Vegas at 1999 Prices

[tmare_IHB]

74% of sales are foreclosures. How long until we read this headline about California?



<a href="http://lasner.freedomblogging.com/2009/05/28/vegas-home-pricing-back-at-1999-levels/23567/">Vegas back at 1999</a>



I don't know why this isn't working, it's definitely right but sorry that it keeps going to a disabled page.



What year are we at here in Orange County? I know it's different for each city. My own area is probably at about Jan. 2003 just from my own estimates of recent sales.

 

[usctrojanman29_IHB]

[quote author="tmare" date=1243749430]74% of sales are foreclosures. How long until we read this headline about California?



<a href="http://lasner.freedomblogging.com/2009/05/28/vegas-home-pricing-back-at-1999-levels/23567/">Vegas back at 1999</a>



I don't know why this isn't working, it's definitely right but sorry that it keeps going to a disabled page.



What year are we at here in Orange County? I know it's different for each city. My own area is probably at about Jan. 2003 just from my own estimates of recent sales.</blockquote>
Many parts of Vegas are currently below rental parity, even with rents having declined about 10-15%. At the trustee sales at the auctions, you can pick up a newer home in a nice part of Vegas for $50-$60/sf. Many of those are getting flipped in short order for about $75-$85/sf from what I can tell on my Vegas MLS.