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Houston Builder
Dyn-o-mite!


Joined: 09 Jan 2009
Posts: 351

Las Vegas update
PostPosted: Sat Dec 03, 2011 2:01 am Reply with quoteBack to top

good move by Meritage - cut bait and run!!

the public's are dying a slow death and you will see more of these moves -

79 deliveries this year in Vegas - they probably stand to lose over $200MM in Inspirada alone - Oh.My.God.

Too bad they didn't try to hire Kyle Davison/Catch 22 and invent their own I phone!!!!!

Friday, December 02, 2011

Homebuilder understatement of the day

by CalculatedRisk on 12/02/2011 07:28:00 PM

From Steve Green at the Las Vegas Sun: Homebuilder pulling out of Las Vegas market

Arizona-based Meritage Homes Corp. announced it was winding down operations in Las Vegas and would exit the struggling market in early 2013.

“It’s a sad state of affairs there,” executive Brent Anderson said during an interview Friday.

He said home sales by Meritage had fallen to 79 last year from 653 in 2005.

“When the market crashed, it crashed hard,” he said.

I'm surprised to hear the Vegas market is so tough (sorry for sarcasm). Prices are only down 60.6% from the peak, and Nevada still leads the nation with 58% of all mortgaged properties underwater.
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Floorpop
Dud?


Joined: 26 Nov 2011
Posts: 12
Location: DFW, Texas

Re: Las Vegas update
PostPosted: Sat Dec 03, 2011 5:44 pm Reply with quoteBack to top

Yeah I just got off the phone yesterday with a realtor who was a Sales Consultant with Meritage in Vegas and just re-located to DFW. She described it as watching "a train wreck in slow motion".
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catch22
Flash in the pan


Joined: 06 Sep 2008
Posts: 74
Location: houston

Re: Las Vegas update
PostPosted: Thu Dec 08, 2011 2:11 am Reply with quoteBack to top

You should move to Vegas and the market . I think you are so qualified you could turn it around in 3 to 6 months. You are just like Obama. Bashing others for doing things you dont have the balls to stomach.
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