Oct.04, 2006
Hello Again,
The link below is a Housing article in today's paper that suggests we might see up to a 13% decline in Real Estate prices here in Las Vegas. As hard as it is for me to say, I happen to agree. I myself have been predicting that we will see prices decline somewhere between 10-12%. However, we will just have to wait and see where we actually end up.
Please don't panic - remember it's just on paper and most of you plan to stay in your homes long enough to see a comeback. However, I question whether we will ever see appreciation like we did in 2004 and 2005, but our homes will eventually start to appreciate again. Hope you enjoy the articles!!
http://www.reviewjournal.com/lvrj_home/2006/Oct-04-Wed-2006/business/10028528.html
...
Here is another good one from Bloomberg. It relates more to new home sales, but I would like to point out one paragraph in particular:
"Simply put, cancellations are rising, and they aren't being captured in the aggregate statistics because of the way the survey is designed. Hence, sales are being overstated and inventories understated."
Please - "Buyer's Beware"!! If you are in the market to purchase a new home I believe you should still seek representation from a professional Realtor. I know it's easy as you drive around town to just walk into the new home sales offices and fall in love with any number of their beautifully furnished models. However, I would advise that you find a Realtor first in order for the Realtor to pull the comparable sales in that area to make sure you are not overpaying for your new home before you pull up in the driveway with your moving van. Click on the link below for the full article. Enjoy!
http://www.bloomberg.com/apps/news?pid=email_en&refer=columnist_baum&sid=aFll0Y8wJuVQ
My Previous Real Estate Articles
