Comments on: Local housing slump near end? http://bridgetmagnus.com/2008/12/09/local-housing-slump-near-end/ Wed, 28 Jul 2010 22:47:39 -0600 hourly 1 http://wordpress.org/?v=3.0 By: Bob http://bridgetmagnus.com/2008/12/09/local-housing-slump-near-end/comment-page-1/#comment-71 Bob Wed, 10 Dec 2008 18:46:49 +0000 http://bridgetmagnus.com/?p=171#comment-71 "Murphy estimates there are about 15,000 REO properties in Las Vegas, including a majority of the vacant homes on the market for sale. With roughly 2,000 foreclosure sales a month, it would take seven months to go through the current supply, assuming no more REOs come on to the market." No More REO's - that is an assumption that I am going to say people should be betting against. There are 2 more big waves of ARM resets over the next 2 years. This is a wonderful thing if you are just now getting into the market. “Murphy estimates there are about 15,000 REO properties in Las Vegas, including a majority of the vacant homes on the market for sale. With roughly 2,000 foreclosure sales a month, it would take seven months to go through the current supply, assuming no more REOs come on to the market.”

No More REO’s – that is an assumption that I am going to say people should be betting against. There are 2 more big waves of ARM resets over the next 2 years. This is a wonderful thing if you are just now getting into the market.

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