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Las Vegas Home Prices Falling !!! - Or are they?
You hear it in the news, Las Vegas home prices and those across the nation continue to fall into the abyss. This perception is keeping the value of the dollar down, something that we all pay for at the pump and the grocery store, to name a few. Worse yet for the home buyer, is what it may cost them by using these news blasts trying to find the 'bottom of the market'. Are these reports true, or is a good deal of the mainstream media misleading the pubic, either intentionally for attention and ratings, or simply passing along half truths by failing to check sources and be objective? I'll let you decide.
There are median price reports from typically reputable sources such as Standard & Poor's, and the National Assn. of REALTORS®. Their methodologies and results are different, but they both have listed falling home values nationwide. The problem is what you're NOT hearing about those numbers. Both say their reports are flawed in current market conditions, and overstating price declines. They were interviewed here in the Wall Street Journal Marketwatch.
If you look closely into the Marketwatch story, what are they telling you? The reason their results are being skewed is from the increase of sales of lower priced homes, primarily foreclosures. These homes are typically in the price range that the average home buyer would be looking for. Yes, and those Las Vegas home bargains are selling. They're also telling you ... more

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