Stevemic

I'm a:	Just Looking
Location:	Las Vegas

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Will prices continue to fall in 2008? If so, what could be the percentage range?

Asked Tue Oct 30 2007, 10:02 by Daniela - 91915 - Foreclosure - 12 answers

Stevemic answered:

I suspect the California market is similar to that in Las Vegas. Here's what was reported last week:

"Locals who have tired of real estate's roller-coaster ride will have to hang on a little longer: Southern Nevada is at least several months away from stabilized home prices and sales, two analysts said at a housing-industry outlook Thursday. Homeowners can expect a sustained slide in property values at least into early 2008, and perhaps into 2009."

Buyers are hesitant because they're not sure where the BOTTOM is! Too many people here are living in houses that they paid hundreds of thousands of dollars more than the market value today. Nobody wants to be in that situation.

Home Buyer, I would definitely recommend renting until the dust settles on the pricing issue. - Tue Oct 30 2007, 10:20

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