Las Valley 702

A February 17th MSN Money article by Tim Middleton
http://articles.moneycentral.msn.com/In … lling.aspx

Seems there are some sales that are making sense, but overall the pricing of these transactions is well below most homes listed price.  Unfortunately sellers and the Real Estate Industry in the Vegas Valley still has not gotten a firm grasp on realistic pricing that will tempt buyers back into the market.  In some situations the sellers can't put their homes on the market, they are upside down and can weather this time and use the home as home instead of an investment.  Looking in the other directions many sellers are unable to bring money to escrow, and are forced to sell a home they can not afford because of the adjustable rates? 

If a seller can sell their existing home and purchase the bigger/smaller, energy efficient, newer house in the neighborhood, it does not mater what their house sells for if they can step into a great deal.  Leaving yesterdays equity in a current home does not matter because the yesterdays equity is also not in the home you are purchasing today!

Selling a low priced home to acquire another low priced home that will appreciate more rapidly when the market returns value is a good purchase today if it fits your needs better.  Until there is a great amount of inexpensive Solar created electrical power in this valley it is worth a lot to have the newer house that does not cost an arm and a leg to heat and cool...

My three cents, since two cents is not worth much any longer...

JR