[vegaslocal55]

Originally Posted by eventusstultorummagister

Selling one of those condos in the future will be a bear given the high ratio of renters vs. owner occupants, a large percentage of the condos in Vegas have had their approved status withdrawn by FHA/VA/HUD.

FHA Approved condos and townhomes in Las Vegas Nevada

Not a problem selling at all. Cash buyers represent more than 50% of sales now. The complexes we've been talking about have only one problem right now: almost no units available for sale because they're so popular.

[eventusstultorummagister]

Originally Posted by eventusstultorummagister

Selling one of those condos in the future will be a bear given the high ratio of renters vs. owner occupants, a large percentage of the condos in Vegas have had their approved status withdrawn by FHA/VA/HUD.

FHA Approved condos and townhomes in Las Vegas Nevada

"Selling one of those condos in the future"

fu·ture (fychr)
n.
1. The indefinite time yet to come: will try to do better in the future.
2. Something that will happen in time to come: "The future comes apace" (Shakespeare).
3. A prospective or expected condition, especially one considered with regard to growth, advancement, or development: a business with no future.
4. futures Business Commodities or stocks bought or sold upon agreement of delivery in time to come.
5. Grammar
a. The form of a verb used in speaking of action that has not yet occurred or of states not yet in existence.
b. A verb form in the future tense.
adj.
That is to be or to come; of or existing in later time.

[lvoc]

Originally Posted by eventusstultorummagister

"Selling one of those condos in the future"

.

It is a rule. In the right set of conditions they will simply change the rule.

[eventusstultorummagister]

Originally Posted by lvoc

It is a rule. In the right set of conditions they will simply change the rule.

I am aware of that however, it is totally governed by the ratio of renters vs. owner occupants which is a variable that will not change for a very long time (if ever).

[lvoc]

Originally Posted by eventusstultorummagister

I am aware of that however, it is totally governed by the ratio of renters vs. owner occupants which is a variable that will not change for a very long time (if ever).

That rule gets tight sometimes and is very loose others. And is easily modified in a tight market.

If there is no other good source of lower end housing they will change the rule.

[eventusstultorummagister]

Originally Posted by lvoc

That rule gets tight sometimes and is very loose others. And is easily modified in a tight market.

If there is no other good source of lower end housing they will change the rule.

I agree that the FHA guidelines are continuously in a state of flux however, in June of last year they issued what they referred to specifically as a "definitive" list of restrictions. This leads one to surmise that there will be no more relaxed standards. Some of the more notable inclusions (or exclusions depending on how you view it) of these new provisions:

No more than 10 percent of the units may be owned by a single investor or entity.


No more than 15 percent of the owners may be delinquent in payment of condo association
assessments.


At least 50 percent of the units must be owner-occupied.

[Swigchow]

Originally Posted by eventusstultorummagister

Selling one of those condos in the future will be a bear given the high ratio of renters vs. owner occupants, a large percentage of the condos in Vegas have had their approved status withdrawn by FHA/VA/HUD.

FHA Approved condos and townhomes in Las Vegas Nevada

That was said a couple of years ago when purchasing but haven't had any problems selling. Although there has been a nice appreciation, the cost point is still reasonable for cash buyers.

[eventusstultorummagister]

^^^
"Investors" are busy playing "a cold when blows". Their reasoning is shortsighted and does not readily align with those of an owner/occupant.

They are consummate gamblers but do so with a firm grasp and deep understanding of "bankroll management".
Most win but in the game someone has to lose and the big question remains unanswered, when the price threshold is surpassed and investor interest declines who will be purchasing these properties? Historically speaking, 30% of condos are purchased with FHA financing, that translates to potential problems (in the FUTURE) does it not?

[vegaslocal55]

Originally Posted by eventusstultorummagister

^^^
"Investors" are busy playing "a cold when blows". Their reasoning is shortsighted and does not readily align with those of an owner/occupant.

They are consummate gamblers but do so with a firm grasp and deep understanding of "bankroll management".
Most win but in the game someone has to lose and the big question remains unanswered, when the price threshold is surpassed and investor interest declines who will be purchasing these properties? Historically speaking, 30% of condos are purchased with FHA financing, that translates to potential problems (in the FUTURE) does it not?

I would say "historically speaking" is no longer relevant in today's market.

[eventusstultorummagister]

Originally Posted by vegaslocal55

I would say "historically speaking" is no longer relevant in today's market.

I could not agree more...