Henderson
skid...@webtv.net
street from Green Valley Ranch Casino and the Distric. We are semi-
retired and hubby works for the School Distric. We love it here, there
is always some kind of entertainment at the Distric on weekends and some
great Restaurants here. The Pavilion is having concerts every weekend
also. Any of the locals in this Forum live in this area. We are
looking for friends to hang out with.
skidor
spenc...@attbi.com
just off Cosy Hill Circle. I think the street was Goldfire.
Almost bought an extended Brentwood model.
skid...@webtv.net
last six month. Not sure when we first moved if we wanted to live here.
skidor
billb
> last six month. Not sure when we first moved if we wanted to live here.
>
if you have a lot of cash wait until the housing price bubble is over. if
you don't have any cash you can buy now with the 1% no down financing plans
they offer. that way if the prices collapse you can just walk away with no
risk to you.
--
billb
I'm told we share 98.4% of our DNA with chimps. presumably the other 1.6% is
the DNA for buying hats, driving cars, going to the pub and so on.
<skid...@webtv.net> wrote in message
news:23851-42...@storefull-3315.bay.webtv.net...
skidor
>
spenc...@attbi.com
Ray
"billb" <sevenou...@yahoo.com> wrote in message
news:4a35a$4297533b$42f83974$29...@DIALUPUSA.NET...
> > Are you in the Henderson area now?? We have being looking to buy the
> > last six month. Not sure when we first moved if we wanted to live here.
> >
>
> if you have a lot of cash wait until the housing price bubble is over. if
> you don't have any cash you can buy now with the 1% no down financing plans
> they offer. that way if the prices collapse you can just walk away with no
> risk to you.
>
> --
> billb
OK billb I agree that there is probably a real estate bubble. I have thought
this for the past two years. When do you think it will burst, and how big
do you think the explosion will be. I am on the side lines sitting on cash.
flip
>OK billb I agree that there is probably a real estate bubble. I have thought
>this for the past two years. When do you think it will burst, and how big
>do you think the explosion will be. I am on the side lines sitting on cash.
>
>
>
>
I don't understand how there can be a real estate bubble in Las Vegas.
After all, isn't
it one of the fastest growing cities in America? And hasn't this been
the case for the
last decade or two? How can growth not be tied to demand for
land/housing and how
can that demand not be tied to price?
I think that the real estate values in Las Vegas were artificially low
and they recently came
up to the levels experienced in the rest of the country. The low prices
attracted investors, who
may have made the prices raise more quickly--but the market decides the
price, and that market
is still growing despite the "bubble".
Analysts thought there was as national real estate bubble last year, yet
houses appreciated 15%
(nationally) last year.
In my opinion, the only thing that would create a real estate bubble in
Las Vegas would be changes
in NV gaming laws, a (very serious) water crisis or a terrorist attack
that affected tourism/conventions.
--flip,
David Berman
news:MPG.1d012063d...@news.easynews.com...
>
> "NO RISK"?
>
> Gee billyB, I'd LOVE to see your credit rating........
And we'd love to see YOURS, since the number 857 doesn't exist.
--Best from David in NV
billb
were rents would be doubling along with housing prices.
I pay less now for rent than I did when I moved here. Now, I'm the first to
admit I made a mistake in not buying a place when I moved here, but that's
life.
the price "bubble" as they call it, is mostly a reflection of dramatically
lower interest rates. 1.1% instead of 8%. A $500,000 house only costs
$5500 a year in interest and that's less than what I pay in rent.
Eventually the lender wants the whole 500,000 but the key word is
eventually! The buyer is gambling that he will never pay it off and will in
fact sell the property for $1,000,000 in a year or two.
Chuck the chimpchump is an expert on all this, but of course, he's also a
bankrupt little scoundrel so I would not want his advice on very much of
anything. Nor would I ever do business with a person that left others
"holding the bag."
Did you ever pay the taxes and penalties on that house chuck? I KNOW
you're reading this chuckies.
billb
> OK billb I agree that there is probably a real estate bubble. I have
thought
> this for the past two years. When do you think it will burst, and how big
>
>
hard to tell so long as Greenspan sits there lending imaginary money at
record speed.
if a Volcker like man ever gets the job, look out below. Until then it's
anybodys guess. See, so long as people can keep borrowing out the equity
the casinos and car sellers will continue to enjoy record profits. After
all, it's "on the house."
I continue to be astonished by the number of people that tell me they gamble
because of all the money they borrowed against the house.
Chuck KY
Chuck.K wrote:
> In article <4a35a$4297533b$42f83974$29...@DIALUPUSA.NET>,
> sevenou...@yahoo.com says...
>
> > if you have a lot of cash wait until the housing price bubble is over. if
> > you don't have any cash you can buy now with the 1% no down financing plans
> > they offer. that way if the prices collapse you can just walk away with no
> > risk to you.
>
> "NO RISK"?
>
> Gee billyB, I'd LOVE to see your credit rating........
>
>
> Chuck
> www.cliffyberman.com (coming again soon)
> www.davidinlv.com (coming again soon)
>
> Sometimes you gotta go, where every Claven is insane!
> Where every Cliffy post spawns flames
> You gotta be where you can see, that Berman is still inane
> You gotta be where Cliffy is still insane!
>
> Cliffy Berman... the most OFF TOPIC poster in avlv.
Generic
"Ray" <some...@over.the.rainbow.com> wrote in message
news:FMKle.13971$eR.1...@fe05.lga...
>
> "billb" <sevenou...@yahoo.com> wrote in message
> news:4a35a$4297533b$42f83974$29...@DIALUPUSA.NET...
if
> > you don't have any cash you can buy now with the 1% no down financing
plans
> > they offer. that way if the prices collapse you can just walk away with
no
> > risk to you.
> OK billb I agree that there is probably a real estate bubble. I have
thought
> this for the past two years. When do you think it will burst, and how big
> do you think the explosion will be. I am on the side lines sitting on
cash.
Prices will most likely not "explode." There could be either stagnation or a
decline. It cannot be predicted with certainty. The current credit market is
unlike anything seen in 75 years, and as long as it holds prices will
continue to rise.
-John
Generic
"flip" <never_send_spam@or_to_me.com> wrote in message
news:QiLle.2263$lI2....@tornado.rdc-kc.rr.com...
> Ray wrote:
> Analysts thought there was as national real estate bubble last year, yet
> houses appreciated 15%
> (nationally) last year.
Read this:
http://calculatedrisk.blogspot.com/2005/05/realtors-economist-bubble.html
http://moneycentral.msn.com/content/CNBCTV/Articles/Dispatches/P119088.asp
Then realize that this man published the book below in February of 2005.
http://www.randomhouse.com/doubleday/currency/catalog/display.pperl?isbn=9780385514347
> In my opinion, the only thing that would create a real estate bubble in
> Las Vegas would be changes
> in NV gaming laws, a (very serious) water crisis or a terrorist attack
> that affected tourism/conventions.
Or, several million Californians who cannot afford to buy in their own
market, or who own and cash out equity, move all about the west speculating
on real estate. They get newfangled 0% down interest only loans, wait for
the paper appraisal to go up $100,000 then use the "equity" to buy a house
in another "undervalued" western town. And so forth. This is behind the info
below:
http://money.cnn.com/2005/03/01/real_estate/buying_selling/secondhomes/
Many small CA towns with no redeeming value have gone up 50% or more in one
year.
http://www.car.org/index.php?id=MzQ5NjE
"Statewide, the 10 cities and communities with the greatest median home
price increases in April 2005 compared with the same period a year ago were:
Reedley, 68.8 percent; Colton, 64.7 percent; Twentynine Palms, 63 percent;
Atwater, 58.7 percent; Rohnert Park, 57.5 percent; Laguna Hills, 53.3
percent; Norco, 51.6 percent; La Canada-Flintridge, 50.9 percent; Adelanto,
49.1 percent; Victorville, 45.8 percent."
Sharp short term increases in investment prices *always* have returned to
their long term averages. Sometimes it happens in a quick burst (NASDAQ 5
years ago), sometimes inflation catches the price and it never declines on
paper. But, if you buy after a rapid rise your long term prospects are quite
bad as an investment--0% real return or worse.
Your guess about the outcome this time is as good as mine.
This is not to say that lots of people haven't made money. Those who bought
several years ago and sell now will make out like bandits. Those who buy now
are locking themselves into a huge risk.
-John
skid...@webtv.net
We moved here from Colorado, my husband is twice retired ( Air Force &
Lockheed Martin). When we got here he wanted to do something part-time.
I guess he is never going to retired LOL. Anyways he got a job as a
School bus driver.. week-ends, holidays and summers off. Perfect for our
lifestyle. We travel back to Colorado At list 6 times a year..family and
grandsons live there.
Maybe been a part time resident is a great idea. Buying a condo here and
one in Colorado. It's just the two of us, we don't need the big house
anymore, being there-done that.
We look at the new Condos in the District, but the prices are a bit
outrageous for what they offer. Heard rumors President Clinton is buying
there. Don't know how true this is. Too rich for our blood.
Prices here are ridiculous. Denver was the same way 5 years ago.
Now people are giving their houses away there. We were lucky we sold
ours when we moved here. I have no doubt something like that is going
to happen here, but how long will it take??
Thanks for your answer.
Chuck KY
Chuck.K wrote:
> In article <FMKle.13971$eR.1...@fe05.lga>,
> some...@over.the.rainbow.com says...
>
> > OK billb I agree that there is probably a real estate bubble. I have thought
> > this for the past two years. When do you think it will burst, and how big
> > do you think the explosion will be. I am on the side lines sitting on cash.
>
>
> Ohhhhhh.... THIS ought to be good for a laugh.
>
> billyB (and John)....COME on DOWN!
>
> I'd LOVE to see a prediction from these two geniuses for EXACTLY WHEN
> this "housing bubble" is going to "BURST" in Las Vegas (or anywhere
> in the US southwest, for that matter).
slaz...@stargate.net
flip wrote:
>I don't understand how there can be a real estate
>bubble in Las Vegas. After all, isn't it one of
>the fastest growing cities in America? And hasn't
>this been the case for the last decade or two?
>How can growth not be tied to demand for
>land/housing and how can that demand not
>be tied to price?
>
>I think that the real estate values in Las Vegas
>were artificially low and they recently came
>up to the levels experienced in the rest of the
>country. The low prices attracted investors, who
>may have made the prices raise more quickly--
>but the market decides the price, and that market
> is still growing despite the "bubble".
>
Well Flip it's only my opinion: There is a bubble inside
a bubble here in Vegas. As a city that borders with the
nation of "California" that is more prosperous than it's
distant Scandinavian cousins, effects our lives here,
throwing it out of kilter.
The bigger fool theory, much the same as the dot/com
explosion/implosion is in full swing today. Buy the
property with 1% down and wait for a bigger fool
to take it off your hands tomorrow.
This is is all amazing considering they build 10 houses
on an acre, have no back or front yards, put a layer
of stucco over chicken wire (like bubble wrap over a
ten cent glass from China) and call it a Villa available
in five floor plans with granite counter tops. Put in a two
or three car garage attached in the front of the house
to store all your junk as you have no attic or basements.
This is not meant to be a knock on our Sun City residents,
but for outsiders who want to be informed, Sun City is no
different than a 1000 other communities in Vegas, they all
look a like, communities of 1000's of houses that are
almost identical and cheaply constructed.
What may set Sun City apart is that they sit on a higher
elevation with a view and their community landscaping
is outstanding.
Vegas housing is warehousing of the middle class (faux rich),
typical of the new section 8 housing in the inter cities of
the east, but for the middle class of the west. Welcome to the
Cabrini Green of the 21st century.
Fastest growing city?, 1000 seek their fame, fortune or
retirement each week come to Vegas passing the 400 that
are leaving.
20% of the cars are from California, a quarter of those have
expired plates/stickers, another quarter are hi/lo riders,
another quarter is checking out real estate and the last
quarter are avlv posters.
It's a double bubble, chew on that for a while folks.
dr. Baf