Real Estate Market Distortions from a Frustrated Buyer

By
Real Estate Agent with Francis Group Real Estate

Las Vegas Housing Market Distortions

Sunday Morning Reading in the Las Vegas Review Journal.  I normally don't end up at the LVRJ but ended up there looking for the story of Congresswoman Shelley Berkeley's husband buying and flipping foreclosures.

Glancing around for that story I came across this piece wonderfully written by Samantha Stone who has joined the ranks of frustrated Las Vegas Home Buyers.

Market Distortion Explains Why Buying Homes is Needlessly Hard

There's so much right about this article with an excellent question raised.

What is the total value of time and productivity lost in the foreclosure relief fiasco?

That's the Million Dollar Question that more people should be asking.

What say you?

Paul Francis, Realtor®
Prudential Americana Group, Realtors®
Las Vegas Real Estate
702.592.3058

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Rainmaker
1,282,998
Edward & Celia Maddox
The Celtic Connection Realty - Queen Creek, AZ
EXPERIENCE & INTEGRITY - WE TAKE THE HIGH ROAD

I think the real losers are owerns who did nothing wrong, but lost what equity they had in their home.

Oct 14, 2012 01:57 AM #1
Rainmaker
856,798
Elite Home Sales Team
Elite Home Sales Team OC - Corona del Mar, CA
A Tenacious and Skilled Real Estate Team

I agree it is needlessly hard.  We do waist time at the foreclosure relief.

Oct 14, 2012 01:58 AM #2
Rainmaker
135,800
Paul Francis
Francis Group Real Estate - Las Vegas, NV
Las Vegas Real Estate Agent - Summerlin Homes

@ Edward / Celia - The real losers in all of this are the people who paid cash at the peak of the housing bubble created due to reckless lending. They have not received anything... and won't. Meanwhile, there are stories in Las Vegas of homeowners who did cash out refi's at the peak, blew the cash on who knows what AND then they get a principal reduction at today's home values. Cha-Ching!

Oct 14, 2012 02:25 AM #3
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Rainmaker
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Paul Francis

Las Vegas Real Estate Agent - Summerlin Homes
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