Joe Friday wrote on February 20, 2008 06:55 PM: Patty Kelley brings new meaning to the word "dishonest". A few months? Laughable.

Unfortunately she is a good representative for those in her line of business. How low can a realtor go? Wave a dollar in front of one and you might be surprised.

ken wrote on February 11, 2008 01:35 PM: I cannot belive the RJ prints crap like this. It will be at least until 2009 before we see any correction in Las Vega...that's the cold hard fact!! We may in a down cycle for another 12 to 18 months. As a homeowner I wish the case was different, but I live in reality.

Realtors live off commissions, of course they are going to paint a pretty picture.

I work in the planning profession and can tell you first hand that the number of residential subdivision applications we are taking in is nonexistent. When I start to see developers coming back in to our department to get approvals for new residential subdivisions that is when there may be light at the end of the tunnel. Until then we all have to ride this one out.

adam wrote on February 10, 2008 02:22 PM: Anybody who has tried to sell their home in the last year would agree that homes owned by homeowners aren't selling and most haven't sold for the last year. Only ones selling are at deep discounts such as foreclosures. This is real bad for reg homeowners with reg 30yr loans because we won't be able to sell for the next 2 years if we wanted to, and thats just to break even on what we owe, no equity. Hard to find comparables cause nothing is selling in zipcodes like 89121. Blame should be placed on the realtors, builders, investors, media, and related industry for creating an artificially inflated price level. Anyone who thinks the prices are going to magically come back in 6 months need to stop smokin that magic dust. The prices have to continue to come down until demand outpaces supply. This is bad because us reg homeowners are saying how low can it go.

Get Real wrote on February 09, 2008 09:16 PM: "This is a temporary fluctuation in the market that may continue to keep prices artificially low for the next couple of months," she said.

Umm... OK. Why don't you just tell the truth and say the Great Deals from the liquidating that are being snapped up are going to lower the overall values?

"This is a segment of the market where people can purchase homes at reduced prices."

Hello! There is a reason why the prices have been reduced.

How can values go back up this year if the Homes that are being purchased are 20% below neighborhood values?

And my favorite from Mr. Real Estate himself:

"Steve Bottfeld of Marketing Solutions forecast a 10 percent increase in resale prices this year and an 8 percent increase in new home prices at his Crystal Ball seminar in January.

Sources such as Moodys.com and Forbes magazine had predicted a 30 percent drop in Las Vegas home prices for 2007, prompting Bottfeld to take bets at last year's seminar that prices wouldn't drop.

They were right about the direction, but wrong about the number, Bottfeld noted. Median prices dropped 20 percent for new homes and 11.2 percent for resales, according to Las Vegas-based SalesTraq.

"I think prices are actually going to rise this year," Bottfeld said."

What is in his Kool Aid? Anybody who takes these articles seriously has got to get a life and at least read one book in their life time.

Please put a disclaimer at the bottom "For Entertainment Purposes Only".

ah come on folks wrote on February 09, 2008 07:57 PM: It's all temporary, in 2 years we will be talking about how the market is....and uh, it will be similar to how it is now. Just like a few years back. it's one big circle.

dont worry, be happy.

Truth wrote on February 09, 2008 06:35 PM: RJ wont print the cold hard facts because they are beholden to the business interests in this town, no the ordinary folks. So they will continue to peddle the crap from GLVA and the Chamber. Meanwhile Rome is burning! LV Highest Foreclosure Rates in Nation! Case Shiller Housing Index and Merril Lynch predict 50% fall of prices from high 2006 to low 2009,2010,2011,2012????? Hello McFly, Hello, is anybody there???????

LV Renter wrote on February 09, 2008 12:12 PM: Reading the realtor quotes makes me wonder what they are thinking. If each month for the last six months there have been record NOD, why in the world would they consider the repossession market temporary or diminishing. If the repossession market is not declining how will prices increase?

If stockbrokers made such utterances about securities when the facts state otherwise they could go to jail, too bad realtors do not face the same laws.

cas127 wrote on February 09, 2008 12:07 PM: Geez...just when you thought you couldn't hate realtors any more...

Winner wrote on February 09, 2008 11:50 AM: Keep paying rent, folks. Who is complaining?

f. sinatra wrote on February 09, 2008 11:50 AM: "This is a temporary fluctuation in the market that may keep prices artificially low." I don't waste time reading what the realtwh*res, AKA ,used house salesperson's , have to say . Of course any time is a good time to recieve a commission! Prices became artificially high because of loose lending or non existant standards. I am an independant securities trader and can predict with certainty that with the major banks being technically insolvent, the days of loose lending are over for the next 10 years. Without that important part of the equation, salaries have to go up to meet the prices or prices have to go down to meet the salaries. I'm betting on the latter. Have a profitable year, continue renting. This is an opinion and not investment advice. Oh, one more thing, real estate investors use a formula: 100-125 times annual rent equals price of house equals a good investment. Do the calculation, you will be shocked, shocked I say, on how low prices will be. And always try not to let your emotions color your investment decisions. It's only business, the biggest investment decision most of us will ever make. Now get out there and enjoy the nice day.

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