"Home Rage": Banks are now offering foreclosed homedebtors cold hard cash to not destroy their homes before they clear out

Do you have any comprehension now about how ugly it's getting out there?

Thank you realtors. Thank you mortgage brokers. Thank you housing gamblers. Thank you Alan Greenspan.

This mess is only gonna get messier now. The screwed sheeple are getting pissed.

Buyers' Revenge: Trash the House - After Foreclosure Banks Pay People Off To Deter Home Rage

The stucco subdivisions of Las Vegas are caught up in the nation's foreclosure crisis. These days, bankers and mortgage companies often find that by the time they get the keys back, embittered homeowners have stripped out appliances, punched holes in walls, dumped paint on carpets and, as a parting gift, locked their pets inside to wreak further havoc.

Real-estate agents estimate that about half of foreclosed properties to be sold by mortgage companies nationwide have "substantial" damage, according to a new survey by Campbell Communications, a marketing and research firm based in Washington, D.C.

The most practical way to ensure the houses are returned in decent shape, lenders and their agents say, is to pay homeowners hundreds or even thousands of dollars to put their anger in escrow and leave quietly.

Vegas home for sale: Includes a hot 22-year old model, two cars, and porn star and stripper phone numbers. Cocaine not included.

Man, it's getting ugly out there now. People are trying to sell their life along with their house.

Meanwhile, I think we can now confirm that Vegas is indeed full of hookers, strippers, porn stars, shallow people, unemployed mortgage brokers and screwed homedebtors.

Las Vegas - the cesspool of America. On sale now!

Thanks Richard for the link. I'm going to take a shower now.

Las Vegas Life - House, Benz, and priceless extras

Perfect way to move to Las Vegas and get a head start in your new home. You are bidding on a complete package that includes:

My 2750 sq ft luxury home on the 15th fairway of the prestigious Las Vegas Country Club, right in the middle of everything that is Las Vegas. Granite and Travertine flooring, Granite Kitchen, Euro Cabinets, Stainless appliances, His and her shower and fireplace in Master Suite. House has been completely custom remodeled and has a new automated lap pool and spa, new A/C, Heat, Water softener, too much too mention.

If you like, you also have the opportunity to continue having ( as long as you are cool enough to keep her around) my very cool and gorgeous 22 year old aspiring model, rent paying, best I ever lived with, rock and roll connoisseur roommate(pictured)-This alone is worth the purchase price.

1996 Triple Black Mercedes Benz 500sl Sport Edition(117,000 miles),

2004 Toyota Tundra pickup(20,000 miles, loaded) (Appeared in 2006 Gumball Rally and the movie 3000 miles)

My cell phone number(702) SEL-SEXY, including many stored numbers (and some introductions), highlights include 3 porn stars, one a 2007 AVN award winner, numerous strippers, "VIP girls", bartenders, club hosts, DJ's, and an original member of Guns n Roses, who will even come over and have a drink or two to welcome you.

Sale will be treated as 700,000 for the real estate(less than the most recent appraisal) and the rest as a personal property and goodwill sale. Good luck and happy bidding

Las Vegas Housing Crash Update: August cancellation rate hits unbelievable 53% in August. Wow.

As in wow, I can't believe 47% of the fools who had new home contracts actually went ahead and CLOSED!

Also note in the article that Vegas is the #1 most overbuilt housing market in America. Uh, ya think? HP poster children Phoenix, Miami and Orlando and West Palm are also up there.

Bottom line - there are millions of homes out there that we simply don't need. And even with new home builders going to fire sale prices, the units still aren't moving, since people can no longer get a mortgage. Classic end to a classic mania. Why are some idiots still debating us? It's over. O-V-E-R. The sheeple don't believe the lies anymore.

Home Builders Research released its stats Monday that show the cancellation rate on purchases of new homes in the valley jumped to 53 percent in August.

The rate had been closer to 30 percent two months ago before lenders starting tightening credit. Lenders are requiring higher credit scores, and those who don't have good credit are required to put down a greater down payment or pay higher interest rates.

Even people with good credit are finding it harder to get jumbo loans of $417,000 and above. Those who can't document their income are also having difficulty getting loans.

"Buyers are certainly not canceling because they are changing their minds," said Dennis Smith, president of Home Builders Research. "They are canceling because something has changed in their monthly payments."

The cancellation rates have been evident in homebuilders drastically dropping their prices in the last two to three months.

HousingPANIC Las Vegas Housing Crash Quote of the Day

"‘What are we doing about it?’ Toll asked. ‘We are out there with the rest of the builders in Vegas praying. There’s not much you can do."

-Bob Toll, August 2007, no longer "dancing on the bottom", but crashing right through the floor now

Time to make fun of housing bubble cities. Today's target: Las Vegas

Go ahead HP'ers, have at 'er...

Homedebtorgamblers in Vegas getting slaughtered as Lennar moves to 30%-off-firesale on all unsold homes

Folks, there's no way existing Las Vegas homedebtorgamblers are going to be able to compete with the screwed and desperate new home builders. The builders can keep cutting and cutting and cutting and cutting, even to the point they're below cost.

And comps? Who cares about the comps, which will now be destroyed for a generation. It's firesale time, everyone out of the way!

And how about existing homedebtors, especially the ones who bought in the past couple of years? They already owe more than the home is worth. In order to sell, they'll need to slash their price. Hello foreclosure or a big-time loss.

You'd have to have a really cold night at the craps table to lose the kind of money homedebtorgamblers are losing today in Vegas. Leverage is fun on the way up but it's a killer on the way down.

Housing market analysis: Las Vegas analyst Dennis Smith said the housing market slump is deeper and longer than most expected. It's going to be a painful for a while longer before it gets better, Smiths said.

Smith said one of the big differences in the inventory of new homes and resale homes is that larger home builders will slash prices to whatever it takes to sell their unsold product.

"It's more difficult for the smaller builders to match these price incentives, so it's crucial for them to keep unsold standing inventory at a minimum," Smith said. "It is impossible for home owners to compete with the price reductions of the larger homebuilders. Owners who are leveraged can't cut their price much without losing money on their investment."

Smith said that one of his clients told him that Lennar Homes sent a letter to companies they do business with offering a 30 percent discount on their standing inventory of homes if they closed escrow by the end of May.

"If a home is priced at $500,000, you could get a $150,000 discount and purchase it for $350,000," Smith said. "The discount on a $750,000 home would be $225,000. That is a primary reason that the resale (market) will normally take longer to correct. There are more of them, and they can't or won't lower prices to match the new home discounts."

In his tracking of the median new home price, Smith reported it was $318,346 in April, which is down more than $10,000 or 3.1 percent. When excluding high rises and apartment conversions, the median price is $313,000, a decrease of more than $37,000 or 10 percent.