Las Vegas Real Estate Update-Where are all of the bank owned properties?

[Burgoon123]

Check this book out. "REO BOOM" is the best REO book in the market. It explains step by step on how to manage your REO listings. Follow the "REO FARM" method and become a successful REO agent.

[hbloch1]

Never buy a Fraudulent Toll Brothers Home.........Must View: YouTube......................

Looking For Schmucks

[spectrum0590]

Nice video! It was very informative. Hope you post more video like this to be able to make people how real estate industry work.

[shades2]

Banks aren't going to flood the market and destroy value for themselves.

[ajonate]

This clip explains a lot.

I was also having difficulty finding a bank REO on the market. I made cash offers in 6 properties through a traditional realtor. All offers were at least the asking price, and one was $12K over asking price. All of my offers were rejected.

I eventually went to the trustee sale held at the Nevada Legal News building. They sell approximately 500 properties each weekday at that sale in an auction-style format. I found what I was looking for there.

[Croorda63]

So, let's see if I have this right. A bank has a house it took back because the loan holder defaulted. If they were to sell the house they would get 100K. But because they are not going to sell it they can say it is worth 300K.

Boy really can't see any problems with that.

So following the same logic, I can tell my wife that the crappy Pontiac I am driving that leaks oil, and has body damage is really a top of the line BMW.

[ajonate]

This clip explains a lot. Thanks.

I had a lot of difficulty finding a house in Las Vegas. I made cash offers on 6 REO properties through a realtor, one offer being $12K over asking price, but got turned down on all 6 offers.

I finally started attending the trustee sale at the Nevada Legal News building. Typically, 500 properties come up for bid every weekday at that sale. I found a suitable property there at the price i wanted to pay.

[Pepelectro]

Well, what happened to the payments people made before they got kicked out of those houses?

where did that money go?

[siraywat]

Think its hard to buy now? Wait and see how hard it will be to buy a house as soon as the Neighborhood Stabilization Program gets into full force. The City of Las Vegas already owns 10,000 homes and plans to buy another 40,000.

Any comments gentlemen?

[siraywat]

Nice info on the new rules. I simply thought it was market manipulation. Market manipulation describes a deliberate attempt to interfere with the free and fair operation of the market and create artificial, false or misleading appearances with respect to the price of, or market for real estate. Market manipulation is prohibited in the United States under Section 9(a)(2)[2] of the Securities Exchange Act of 1934,

A quick new rule to override the fraud.

[jertjitzboo]

Good Job Guys! Are you planning a follow up?

[dianadupre]

Great Information! Thanks!

[NWObusters]

Great video guys. I don't trust the banks. It's a conspiracy!