THat hot HOusing Market....

I just overheard on CNBC an excerpt on short selling. Hmm, last month they were talking REITS and now they are talking short selling. I think it was yesterday, one of the business shows had an interview with a few people who were now dealing in real estate instead of the market. No more stock market for these folks.

If those are not power contrary indicators, I don't know what is.
 
Originally posted by NasdaqTrader
Anyone here from Las Vegas? I hear it's cheap.Care to comment on the housing prices there,since i'm thinking of relocating there.I found these 2 listings that i liked for the price.Is this a reasonable price for these 2 homes compared to other homes there?

http://list.realestate.yahoo.com/di...ada&cpcy=Las+Vegas&fullnodeid=750007077&intl=


http://list.realestate.yahoo.com/di...ada&cpcy=Las+Vegas&fullnodeid=750007077&intl=
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For the square footage, those two are decent buy. There are many new homes selling in Vegas for under $200k also, that you could probably get a comporable deal for. It really depends on where those two are located. If they're within the vicinity of the agents address, I'd say the area is nice enough.
I don't think anyone would disagree too strongly if I said the best areas in Vegas are Summerlin and Green Valley. Check www.realtor.com for some of the homes in those areas.
 
Originally posted by NasdaqTrader
Anyone here from Las Vegas? I hear it's cheap.Care to comment on the housing prices there,since i'm thinking of relocating there.I found these 2 listings that i liked for the price.Is this a reasonable price for these 2 homes compared to other homes there?
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I moved from Vegas a while ago. I didn't love it.
The houses in your post look like attractive buys, but don't forget the main law of real estate. These houses are on the east side. Not the most desireable neighborhoods. I am not positive of the exact locations, and the surrounding areas.
Basically west is more desireable....The Lakes area, or even Summerilin (which someone else mentioned). But I think of Summerlin as retirees. Used to be, but there is so much building I don't know now.
Schools were a concern for me. The better schools were on the west side too.
 
Originally posted by Rigel
Fannie May and Freddie Mac have been downgraded and are both down today.
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Hmmm, it's beginning to look a lot like excess everywhere you go.
 
A guy at work sugeste that I buy a Co-op in his building. aftrer discussion it turns out that he 's on the upper east side and his building used to have a waiting list to buy and now. There's 4 apt for sale at reasonable prices.

It used to be a sure thing to buy an apt, as an investment in NYC, but now.....
It may be a smart idea rather than rent, but its not an investment.
 
I've heard about these. Its where you get payments from the bank and at the end they get your house. Its considered a new kind of retirement tool. I'd be interested if anyone had an opinion of how that could play into things.
 
Quote from GATrader:

Top ten list on how to hedge against this upcoming collapse. in order of preference?

10. short homebuilders
9. short banks-not as fallible since rising interest rates, which is the strongest factor in the RE market, makes banks more $
8. short agency stocks Fannie Mae, Freddie mac but uncle sam won't let them fail?
7. short bonds to protect against interest rate hike
6. short home depot, lowes,etc
5. long inflation insensitive intruments since only reason for interest to go up is if inlation rears its ugly head.
4. rent and hope you are right but in the meantime watch as the RE prices keep going up 5% a year so when the bubble collapses you were right about the same level when you first rented less the tax benefits.
3. Live w/ Mommy
2. Live in a van down by the river until the houses collapses.
1. Live with In-laws and pay them $250 monthly plus do the dishes and lawn.

Disclaimer: I am a homeowner in N New Jersey where bidding wars are commonplace. I just hopethey are still here when I sell my house! Anyone care to add to my list?
Hopefully more insightful ones Have a great weekend!
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A very interesting read, given all that has transpired in the 11 years since it was written.

It was a bit early -- we all were. We seem to underestimate just the extremes to which a "mass mind" can go.
 
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