Justin wrote on May 09, 2008 12:22 PM: Where is the bank deal in 7 Hills realtor Steve Hawks has is that vegas or henderson

James wrote on April 29, 2008 08:38 PM: Housing is going to continue to decline for at least another two years. Some of these Realtors quoted in the article need to take an economics course and release demand doesn't increase during a recessionary period. Vegas will not start to see a turn around until at least 2010 when the big projects downtown come to fruition and new workers seek places to live.

charlotte wrote on April 27, 2008 07:57 AM: If you think you can sit back and wait for lower home prices, you are crazy! Americans are now competing, for the first time in our history, for a limited amount of raw materials with the world's largest populations, China and India. The cost of building anything is going to skyrocket beyond anyones ability to buy after this recovery.

Nick wrote on April 24, 2008 12:36 PM: Another interesting article. Talk to you later!

Tom Clemmer wrote on April 23, 2008 05:08 PM: I was shocked at the quality of homes in Las Vegas. They are very low quality ( at least ones under 300K) and based on land size they should be much lower than current prices.

Vegas needed to be cooled off...

In LA there are some home builders trying not to lower the price but instead give 3% on loans. I noticed that lennar is doing this also in Vegas...once the trend starts it will be like car loans and maybe we'll see 0% on homes.

I say wait...at least 20% further drop in current prices..and who knows maybe a lot more and crazy interest rates to come.

dt wrote on April 22, 2008 05:17 AM: People are broke. Thats why they are foreclosing. Everybody who had mortgage lates and foreclosures - you all are screwed for awhile. No bank will give you money to buy a home for years. You can take them out of the picture.

Still, everybody is broke. Prices must come down and stay down, otherwise the market will remain stagnant.

I'm just glad I live within my means. I am just going to wait for a great deal. I think the window is open for at least another 1 1/2 years.

BKsGs wrote on April 18, 2008 05:11 PM: And when you buy..and lose another 20% over the next 15-18 months, it will take years! to be back even in a normal 1-11/2% a year market..EVEN, not ahead. Odd how all these realators predictions don't match any economist's or analylst's predictions. MGM just laid off 400+ and I heard Harrahs is laying off 600...who is buying these homes..the 6000 families moving here every 6 hours??not hardly, quit using 4 year old data. Mega investors are the only ones getting in and your neighborhood is soon to be a no hoa renters trailer park...non of the hoa's in these devolpments are going to survive. I overheard at lunch a few days ago, 3 men talking about trying to get 65$ a foot in Mountains Edge. BTW, where are the rel estate professionals going to get water for these unbeleivable deals. Tough cookies Vegan's you built your mess, now deal with it!!!Thank god we're just passin thru. If you want to build a solid economy here, first you need to come up with something to produce and export..at least across state lines, the only jobs here were people coming to build houses so that the people coming to build more houses had a place to live. Dont even start on the crime problems... we are up 30 times the national average. PS why do you all throw all your garbage out of your cars and stuff? Ever hear of a trash can? They came up with them in the 19th century. Don't say "the wind blows it around" drive south on the 15, when you get in Cali the trash all over stops and thats windy too, NO, I'm not from Ca...

rb wrote on April 17, 2008 10:18 AM: its OK...NACA is coming to help.
www.NACA.com

rightarm wrote on April 16, 2008 03:53 PM: downby50in09

you seem to know it all, so what do you think about this?
the housing market is in a god awful state, and it is being felt hard by the lumber industry. many mills are curtailing production in huge amounts. and we are now beginning to see some mills shutting down. of course, this is a necessary thing at the moment, since construction is at it's lowest level in 17 years, but it won't be forever. meantime, more and more lumber mills will curtail or go out of business completely and when things do turn around, which they will, we are going to have a supply issue to deal with. right now the cost of lumber is historically low, but the cost of green douglas fir lumber, which is what all these houses in las vegas are framed with has been going up for weeks now, and it's getting harder to come by. this will continue as long as the mills curtailing and shutting down. the price isn't driven by need right now, but availabilty. so what does that do to the price of lumber, and the price of homes when the market turns around?

Robert wrote on April 12, 2008 01:42 PM: All this discussion of the macro environment is very fascinating but largely misses the key point: people do not buy "the Las Vegas real estate market." There is not (well not in a form that people would expect) a "Las Vegas Real Estate purchase." People purchase a property, which is either above or below its fair value.

Are there deals to be had out there? There are. The DJIA [Dow Jones] is down 14% in six months. Does this mean that you should not buy any stocks at all at any price? Of course not. It means do your homework, look for value, figure out your time horizon for the investment/purchase and make an educated decision. There was never a time that a Buyer could or should have bought just any house at any price; there has never been a time that people should simply not buy regardless of the value.

The pigs still are going to get fat; the sloppy hogs in this market are still going to get slaughtered.

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