Did we learn anything? From the Last Bubble that Burst…..

The Las Vegas Home Market is still reeling from “The Real Estate Bubble” and yet we might be repeating history.  Everyone can read Headlines and knows that many indicators are up and creating excitement.  Homebuyers that had to sell short are already back in the home buying process.  Investors have been speculating with Flips and have already seen profits from properties that they purchased right after the bubble burst.  With inventory tightening this is pushing prices up and we again are seeing the “Offer” Frenzy, with multiple offers on much of the new listings on market along with Builder’s starting the lottery system with small phase releases.  We get it, everyone wants the highest and best price.  However, this may be short-lived or will at least stabilize as LPS reports over 1.2 Million homes are in foreclosure, down from 1.5 YoY, this is still a great deal of inventory to absorb along with 900,000 housing starts throughout the nation.  This is further complicated by inflated BPO’s (Broker Price Opinion) as outlined in our previous article, “Are Banks Stealing Homes?”, which will, if allowed to happen, push more homeowners into foreclosure and not allow the market to fully recover prior to over inflated home values as was experienced when no one thought it possible.  As Nike’s controversial new Ad stated, “Winning takes care of Everything,” this may be fine for those on the winning side of this recovery, what about the homeowners left behind with bad loans from predatory lending and exaggerated values resulting in over-leveraged property.  Lets not let this happen again.  Be an informed Seller, Buyer, or Investor, weigh your options, and know what is best for you.  The Neighborhood Home Rescue Workshop Video series has released chapter one with our next Chapter, “Homeowners Options“, being released the first week of April, which will assist you in better understanding the market, what placed us in this circumstance and how a healthy recovery will include help for homeowners impacted by deregulation of the Credit Derivatives in the 2000’s.  For notification of our next video release email us at info@platinumelite.com or call 702-869-9999.

The Platinum Elite Group

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