 Vegas RE Bubble (by Livethedream [AZ]) Jun 14, 2018 2:07 PM
 Vegas RE Bubble (by Mike45 [NV]) Jun 14, 2018 2:23 PM
Vegas RE Bubble (by Deanna [TX]) Jun 14, 2018 2:53 PM
Vegas RE Bubble (by Jim in OC [CA]) Jun 14, 2018 3:03 PM
Vegas RE Bubble (by Robert J [CA]) Jun 14, 2018 4:23 PM
Vegas RE Bubble (by Livethedream [AZ]) Posted on: Jun 14, 2018 2:07 PM
Message:
Wow! Vegas is going nuts again. 24% over valued. Now I wish I'd held onto the two houses I had there a few years back, and had bought more.
Apparently nobody is concerned about the lack of water and insane crime rate.
www.reviewjournal.com/business/housing/las-vegas-home-prices-most-overvalued-in-us-report-says/
- --47.216.xx.xxx |
Vegas RE Bubble (by Mike45 [NV]) Posted on: Jun 14, 2018 2:23 PM
Message:
The article does NOT specify how they have made that determination of "overvalued." The present market values reflect the amounts that willing buyers are paying to willing sellers -- so how can the properties be "overvalued"?
Based on the rate of return for rentals, I have dropped out of the market to buy properties -- so I think of the properties as overvalued. I won't pay $200,000 for a property that might have a $1,500 monthly rental value, gross of taxes, insurance, management, repairs, vacancies, .... But that is a very personal business decision.
I do not think we are about to break a bubble.
--71.38.xx.xx |
Vegas RE Bubble (by Deanna [TX]) Posted on: Jun 14, 2018 2:53 PM
Message:
I liked the analysis on the "Flipping Profits" thread you had posted in December about the article at:
www.reviewjournal.com/business/housing/las-vegas-house-flippers-see-rising-profits-report-says/
I remember how terrible the writer's math was when calculating "profits", and we all chewed him up over it. :) Today's article was from the same guy-- hopefully his analysis is a little more realistic today. :P --96.46.xxx.xx |
Vegas RE Bubble (by Jim in OC [CA]) Posted on: Jun 14, 2018 3:03 PM
Message:
My LV property is still upside by less than 5% from 50%. --75.22.xx.xx |
Vegas RE Bubble (by Robert J [CA]) Posted on: Jun 14, 2018 4:23 PM
Message:
Many years ago A lady friend of mine purchased 11 homes in the Vegas area at a boom/bubble cycle. The homes ranged from $150K to almost 300K, with a 5-10% down payment. She was pleased she earned real estate assets over half a million dollars.
Then the market collapsed. She was guaranteed by the developer that no property, even when foreclosed on, would ever be re-sold for under market value! The averaged "cost" to home owners in those development was around $250,000. At auction homes sold for $187,000 -- since that was the price at auction, then that was the "market value".
My friend went from 11 homes with equity of $500,000, to a person in bankruptcy now owing hundreds of thousands of dollars. She went back to her home in the trailer park, evicting her tenants.
There is a time to enter the market and a time to exit it.... know your timing and limitations....Eventually things go back up, you just have to wait out the storm.
--47.156.xx.xx |
Reply:
|
|