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View Poll Results: The overall LV house and condo market prices in One year (1/2011) be
10% or more lower 18 30.51%
5-9% lower 6 10.17%
2-4%% lower 3 5.08%
Basically the same as today + or - 1% 15 25.42%
2-4% higher 7 11.86%
More than 5% higher 5 8.47%
I am clueless- the future is hard to predict. 5 8.47%
Voters: 59. You may not vote on this poll

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Old 01-09-2010, 02:35 PM
 
Location: Rockport Texas from El Paso
2,601 posts, read 8,524,410 times
Reputation: 1606

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The Thread "Current Update on LV Real Estate market" has become a battle between Olecapt and Soprano. While they make some good points- much of what they argue about is "who predicted what -- when". Airics is just grouchy (only because he says so). Even the moderator cried for help.

Aside from the Soprano - Olecapt battles let's see some real predictions. The recent projected gaming declines and decline in visitors is not positive. Let's break it down to three markets and predict the next 6 and 12 months

Market 6 months change (July 2010 vs now) Jan 2011 (vs now)

Houses -2% -3%

Condos - 3% -4%

Condo Hotels -5% - 7%

I'll put in a poll for everyone but perhaps Olecapt and Soprano can make their points here and start fresh. There is nothing wrong with being wrong but the arguments and revisionism is staggering.

Anyone can add their opinion publicly or in the poll - above you have my best guess.

Last edited by ocean2026; 01-09-2010 at 02:45 PM..
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Old 01-09-2010, 02:39 PM
 
Location: Charleston, SC missing home Reno NV
369 posts, read 1,095,790 times
Reputation: 168
Isn't a poll a yes or no answer? or gives me options? this is way above my head to predict anything. I just predict it being bad still... but HOPING for the best!!!
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Old 01-09-2010, 02:41 PM
 
Location: Rockport Texas from El Paso
2,601 posts, read 8,524,410 times
Reputation: 1606
Verde lol you didn't wait for me to finish- no a poll doesn't have to be a yes or no thing. I did simplify the online poll to the overall market rather than breakdown condos-houses - condo hotels.

Go ahead and take a stab at it-however if you are wrong you will be punished on here severely lol If you're correct your answers will be distorted so that you don't recognize them.

Last edited by ocean2026; 01-09-2010 at 02:49 PM..
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Old 01-09-2010, 03:07 PM
 
9,855 posts, read 10,417,672 times
Reputation: 2881
I don't have hope for the economic recovery of the United States because we are so deep in debt to China but I do not have the knowledge base to predict how the housing market might be affected/manipulated.
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Old 01-09-2010, 03:38 PM
 
Location: Portland, OR / Las Vegas, NV
1,818 posts, read 3,838,313 times
Reputation: 985
I voted 5% higher. No facts to back it up, I'm just hoping since I just bought down there.

Maybe I should have put my money on red (or was it black).
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Old 01-09-2010, 04:42 PM
 
278 posts, read 791,695 times
Reputation: 67
Quote:
Originally Posted by bledsoe3 View Post
I voted 5% higher. No facts to back it up, I'm just hoping since I just bought down there.

Maybe I should have put my money on red (or was it black).

http://www.youtube.com/watch?v=FTDeOPFr9e4
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Old 01-09-2010, 04:58 PM
 
Location: Here and there, you decide.
12,908 posts, read 28,004,431 times
Reputation: 5057
this is hard to predict but here goes...

condos under 50k - stable, no increase
condos 50-125k - drop 5%
condos 125-250 - drop 10% or more
strip condos - massive drop 25%
condo conversions - worthless

homes under 125k - up 5-10%
homes 125-250k - up 5%
homes 250-400k - stable to drop 2%
homes 400-800 - drop 5-10%
over 800 - drop 15-20%
over 1.5mil - large drop 25% or more

remember these are just my opinions, and unlike a lot of real estate agents, i don't guarantee ANY increase.

also i predict the following for AREAS..
NORTHWEST - UP NORTH - STABLE NORTHEAST - DOWN EAST - DOWN WEST- STABLE SOUTHEAST - STABLE SOUTH - STABLE SOUTHWEST - STABLE.......EXCEPT MOUNTAINS EDGE - DOWN
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Old 01-09-2010, 06:17 PM
 
Location: Rockport Texas from El Paso
2,601 posts, read 8,524,410 times
Reputation: 1606
Airics thanks for your well thought-out response. I understand they are opinions about the future which is sometimes difficult to predict. Nevertheless can you elaborate on why you feel strip condos will have a huge drop and why the condo hotels will be "worthless"? I know by "worthless" you meant a huge drop but explain. I personally liked the Platinum Condos but I understand there may be saturation and both prices will have to continue down and occupancy up to make them yield anything at all.
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Old 01-09-2010, 06:33 PM
 
Location: Here and there, you decide.
12,908 posts, read 28,004,431 times
Reputation: 5057
as for condo conversions, i was referring to apartment conversions to condo....
the strip condos are so far overpriced eg.. citycenter that i believe that they will plummet to 150-200k
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Old 01-09-2010, 07:05 PM
 
1,347 posts, read 2,449,312 times
Reputation: 498
Ocean, I'll offer my $.02 soon but I'm headed out the door for the evening. It will be interesting to see what the consensus is...if there is a consensus.
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