New-home Sales hold steady in LV

New-home Sales hold steady in LV

In today's RJ http :// www .lvrj,com /business/25549439.html

Re: New-home Sales hold steady in LV

On Jul 17, 7:06 am, "Marsha L" <ThoseEye...@gobbledygook.gmail,com >
wrote:
> In today's RJ http :// www .lvrj,com /business/25549439.html

Hi Marsha,
This is a great time to buy in Vegas. The prices will only go up
from the bottom.

Don

Re: New-home Sales hold steady in LV


"Las Vegas Don" <dstrevel@gmail,com > wrote in message
news:41eb6bce-9dcc-4113-8736-7e60e64325ee@y38g2000hsy.googlegroups,com ...
On Jul 17, 7:06 am, "Marsha L" <ThoseEye...@gobbledygook.gmail,com >
wrote:
> In today's RJ http :// www .lvrj,com /business/25549439.html

>Hi Marsha,
>This is a great time to buy in Vegas. The prices will only go up
>from the bottom.

>Don

If you can get a loan. As lenders continue to tighten up and less borrowers
qualify the prices will probably still roll down.

Re: New-home Sales hold steady in LV

Donkeydode wrote:

>
> If you can get a loan. As lenders continue to tighten up and less borrowers
> qualify the prices will probably still roll down.

Before, it was a case of, "If things goes up, the buyer wins and if it
goes down, the lender loses."
We're returning to a more rational time when just the desire to own a
home is (again) coupled with the desire and ability to repay the loan.

The folk bankrupting or walking away will have that hanging over their
heads for a long while. I'd especially like to see a footnote on credit
reports for the folk who deliberately trash a house just before moving
out.

--
Nonny

Nonnymus
I'm not who you think I am. I'm not who
I think I am. I am what I think you think I am.

Re: New-home Sales hold steady in LV


"Donkeydode" <noemail@bye,com > wrote in message
news:4KNfk.17768$RM1.13060@newsfe01.iad...
>
> If you can get a loan. As lenders continue to tighten up and less
> borrowers
> qualify the prices will probably still roll down.

Personally, it doesn't matter very much to me. I have a house here, and I
don't have a loan. The whole thing would only be an issue if I were trying
to sell, and that would suppose that I had somewhere else I'd rather be.

Re: New-home Sales hold steady in LV


"Las Vegas Don" <dstrevel@gmail,com > wrote in message
news:41eb6bce-9dcc-4113-8736-7e60e64325ee@y38g2000hsy.googlegroups,com ...
On Jul 17, 7:06 am, "Marsha L" <ThoseEye...@gobbledygook.gmail,com >
wrote:
> In today's RJ http :// www .lvrj,com /business/25549439.html

Hi Marsha,
This is a great time to buy in Vegas. The prices will only go up
from the bottom.

Don



True but if it's retirement, or your last move, who cares about what
happens with the price in 5-10 years? I say buy now and enjoy!


--
"Money Won is Twice as Sweet as Money Earned" ... Fast Eddie Felson

JK Sinrod
www .MyConeyIslandMemories,com

Re: New-home Sales hold steady in LV


"MetsJetsRangersKnicks" <spam@aol,com > wrote in message
news:48802d9a$0$20910$607ed4bc@cv,net ...
> "Las Vegas Don" <dstrevel@gmail,com > wrote in message
> news:41eb6bce-9dcc-4113-8736-7e60e64325ee@y38g2000hsy.googlegroups,com ...
> On Jul 17, 7:06 am, "Marsha L" <ThoseEye...@gobbledygook.gmail,com >
> wrote:
> In today's RJ http :// www .lvrj,com /business/25549439.html
>
> Hi Marsha,
> This is a great time to buy in Vegas. The prices will only go up
> from the bottom.
>
> Don
>
> True but if it's retirement, or your last move, who cares about what
> happens with the price in 5-10 years? I say buy now and enjoy!
> --
> "Money Won is Twice as Sweet as Money Earned" ... Fast Eddie Felson
>
> JK Sinrod
> www .MyConeyIslandMemories,com

Maybe, but as this comment in the story, timing is important: " The
median resale price in June was $218,000, a decline of $62,000, or 22.2
percent, from a year ago," Even if not planning on reselling, it's 22%
cheaper for buyer this year than last. Might be that much again next year.
Why overpay by 22%?
If money matters, as in stocks: "don't try to catch a falling knife". At
this point lots of speculators - that were buying only 'because it's going
up'. Buy at $X and sell a year late at more than $X. Now value going
down - yet rates are going up - and they're walking. I'm in MA : neighbor
built spec house - just at market peak. After 6 months, it wouldn't sell
(for $500,000). Rented it out for 12 months hoping a rebound. Back on
market - won't sell for $400,000: letting the bank foreclose. I know other
folks in Florida - same thing. You don't know how far is down until starts
coming up. So DO consider - resale price - even if not PLANNING to
resell. If money not an issue - then just pick a good neighborhood and
enjoy.

Re: New-home Sales hold steady in LV


"- Bobb -" <bobb@noemail.123> wrote in message
news:Lq2dnfQS87gUPBvVnZ2dnUVZ_hidnZ2d@comcast,com ...
>
> "MetsJetsRangersKnicks" <spam@aol,com > wrote in message
> news:48802d9a$0$20910$607ed4bc@cv,net ...
>> "Las Vegas Don" <dstrevel@gmail,com > wrote in message
>> news:41eb6bce-9dcc-4113-8736-7e60e64325ee@y38g2000hsy.googlegroups,com ...
>> On Jul 17, 7:06 am, "Marsha L" <ThoseEye...@gobbledygook.gmail,com >
>> wrote:
>> In today's RJ http :// www .lvrj,com /business/25549439.html
>>
>> Hi Marsha,
>> This is a great time to buy in Vegas. The prices will only go up
>> from the bottom.
>>
>> Don
>>
>> True but if it's retirement, or your last move, who cares about what
>> happens with the price in 5-10 years? I say buy now and enjoy!
>> --
>> "Money Won is Twice as Sweet as Money Earned" ... Fast Eddie Felson
>>
>> JK Sinrod
>> www .MyConeyIslandMemories,com
>
> Maybe, but as this comment in the story, timing is important: " The
> median resale price in June was $218,000, a decline of $62,000, or 22.2
> percent, from a year ago," Even if not planning on reselling, it's 22%
> cheaper for buyer this year than last. Might be that much again next year.
> Why overpay by 22%?
> If money matters, as in stocks: "don't try to catch a falling knife". At
> this point lots of speculators - that were buying only 'because it's going
> up'. Buy at $X and sell a year late at more than $X. Now value going
> down - yet rates are going up - and they're walking. I'm in MA : neighbor
> built spec house - just at market peak. After 6 months, it wouldn't sell
> (for $500,000). Rented it out for 12 months hoping a rebound. Back on
> market - won't sell for $400,000: letting the bank foreclose. I know other
> folks in Florida - same thing. You don't know how far is down until starts
> coming up. So DO consider - resale price - even if not PLANNING to
> resell. If money not an issue - then just pick a good neighborhood and
> enjoy.
>


Everything you say is true, but I've seen folks wait and wait until the
"timing is right", and then miss the boat when it starts going the other
way, and/or die waiting. If you're retiring to Vegas, in my opinion the
prices are low enough now to take the plunge, and let your kids worry about
the value when they inherit. Life is too short to worry about another 22%
that may never happen while your arteries are hardening, and your freezing
your ass off. If you can afford to retire to Vegas, I'm guessing that a
possible few thousand dollars isn't worth waiting a year for. JMHO


--
"Money Won is Twice as Sweet as Money Earned" ... Fast Eddie Felson

JK Sinrod
www .MyConeyIslandMemories,com

Re: New-home Sales hold steady in LV

On Jul 17, 10:06 am, "Marsha L" <ThoseEye...@gobbledygook.gmail,com >
wrote:
> In today's RJ http :// www .lvrj,com /business/25549439.html

My question would be this.
How can the analyst know where the bottom of this recession is?
It is my suspicion that we will have another 12 - 18 months of this.
We still have banks and lending companies going belly-up .
I don't understand.

DD

Re: New-home Sales hold steady in LV

On Jul 23, 9:20 am, DocDice <steve johns...@bellsouth,net > wrote:
> On Jul 17, 10:06 am, "Marsha L" <ThoseEye...@gobbledygook.gmail,com >
> wrote:
>
> > In today's RJ http :// www .lvrj,com /business/25549439.html
>
> My question would be this.
> How can the analyst know where the bottom of this recession is?
> It is my suspicion that we will have another 12 - 18 months of this.
> We still have banks and lending companies going belly-up .
> I don't understand.
>
> DD

Right now we are seeing the slowness due to foreclosures. Next up are
the quit-claimers. These are people that got no money down deals, are
now very negative on the balance sheet, and will simply hand the keys
to the bank and take the hit on their credit rating. The walk away
analysis is tricky since there is no pressure to walk away from their
loss, but the sooner you take a hike, the sooner your credit is
restored.