After yesterday’s post regarding a regional conference on the state of the housing market, I ran across this: read it Seriously, it’s like an echo. They may as well have plugged in the words "Reno Sparks" in every other paragraph, because it’s like they were writing about our market. It will be interesting to see what the speculators do.
On the flip side, vacation properties continue to do well: read it And let me tell you… Intrawest really knows what they’re doing. They know how to build, market, sell and create value around the Village Condotel concept better than anybody I’ve seen. I once bought an Intrawest condo in Mammoth, waited 9 months for them to build it, used it for another six months, and sold it for a huge profit right in the middle of ski season. Intrawest, so far, is almost always a good bet.
And talk about scary… 43% of new homeowners are buying 100% down. Meaning, they have no skin in the game if values go south. Making it a lot easier for things to go south: read it
