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12-05-2011, 09:15 PM
  #29
MiamiScreamingEagles
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Quote:
Originally Posted by BobbyC16 View Post
Would there be much of a market in Vegas?

They should go back to the old Smythe, Norris, Adams and Patrick divisions
The housing market in Las Vegas is hurting.

http://www.post-gazette.com/pg/11338/1194175-455.stm

"Las Vegas is ground zero for America's housing collapse"

Quote:
Today, even though some streets are still undeveloped, the planned community is already riddled with homes that are up for sale or available for rent. Seven out of every 10 homes on the market there are foreclosures or short sales.

A foreclosure means the bank has taken over the house after the owners defaulted. A short sale means the owner is being allowed to try to sell the house for less than what he owes on it.
Obviously, there is much competition for the tourist dollar. It's an interesting proposition but the risk/reward factor has to be considered.

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