Helene M Moore
Windermere Prestige Properties
2012 Vice Chair GLVAR Property Management Committee
Southern Nevada Property Management
8871 West Flamingo Road Suite 202
Las Vegas, NV 89147
The longer AB284 stays around -the bigger backlog we will have of inventory. Once those homes come on the market - more declines!
Just keep an eye on the economies of the world, try to get the real numbers of jobs and laws of supply and demand will effect our real estate market. Vote for: Term Limits, Honest Business Men not attorneys, ballanced budget, conservitive Regan like policies. Why talk about the Deck Furniture when the ship is sinking? We are at war with those who want to destroy the traditional American way of life. A war like we've not seen since 1860. So which side will you be on? Liberal, Socialists, One World, Nany State or the America that is One Nation, Under God who is the only one that gives us our "Rights"...not men. No taxation with out representation. Please don't sit on the side lines and just watch and complain as our rights and way of life are being destroyed.
I want you guys to know this can be the worst thing for real estate agents. Can it bring inventory down? YOU BET!!! Now think...what is our inventory? Is it REO? Short Sales? How many traditional sales have you seen this year? Very few if any, right? I mean traditional, not flips or trustee sales because they will go away as well...no REO, no trustee sales, and the non-paying home owners will learn not to short sell if the NOD is going to be postponed for who knows how long. In the east coast, it takes 3 years to foreclose, and we might be heading that direction. So, what are you going to sell, or buy in this matter if AB 284 results in prolonging the foreclosure process?
Guys 2012 will be a year to pay attention. This year can be disastrous or a lot of things will still change.
I wonder if we will see some prices go up. If Assembly Bill 284 keeps the NOD's at the low levels they are at now who knows. If the inventory goes way down with the reduced NOD's we may see a uptick to prices. Stranger things have happened.
I think prices would have been going up if we didn't keep postponing our foreclosure process with litigations and law suits. At this point I think our prices will not go much lower if any at all, but I donâ€™t think they will go up this year. Most likely next year, which is great for some people to get on the bandwagon while they still can, because the 80â€™s will repeat with double digit interest rate (12% if you have great credit), and high down payments...not to mention more expensive homes.
Encore Realty Group
As YOU know, all any of us can do is speculate. In 2011, none of us knew that the following would occur:
â€¢ Mid-term elections would cause a change of power in the House
â€¢ Japan would have a serious earthquake and ensuing tsunami
â€¢ There would be an Arab uprising
â€¢ There would be shocks in oil pricing
â€¢ Europeâ€™s Sovereign debt crisis would escalate
â€¢ Greece would default
â€¢ We would have our own debt ceiling debacle
â€¢ USAâ€™s long-term debt would cause downgrading of our credit worthiness
â€¢ There would be increased volatility in the stock market
â€¢ There would be threats to remove the interest deduction
â€¢ And so on â€¦
What will happen in 2012? Maybe this is the year California finally falls into the ocean, finally making Nevada beach-front property. Iâ€™m, guessing that would make values go up a wee bit â€¦