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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (566645)	5/17/2010 9:30:17 AM
From: Jim McMannis	Read Replies (2) \| Respond to of 1584048

Las Vegas valley had 74.7% of its houses underwater - Oh... Oh... Ohhhbama Tax credit’s effect peters out, pointing to a lull in housing sales lasvegassun.com The Greater Las Vegas Association of Realtors reported that Southern Nevada sales in April fell 7 percent compared with March and 8 percent compared with April 2009. April was the last month that homebuyers could qualify for a federal tax credit — $8,000 for first-time buyers and $6,500 for others. “The consensus is that real estate activity is going to decline,” said Las Vegas-based Shane Whitmore, Southwest regional manager for Hanley Wood Market Intelligence, a real estate research firm. New-home sales will be hurt in particular, he said, because the tax credit had propped them up. Dennis Smith, president of Home Builders Research, which monitors the Southern Nevada housing market, said he thinks the drop-off in existing-home sales reflects the decline in foreclosures, which lured both investors and first-time homebuyers. “You would think sales would have been stronger with the tax credit in effect,” Smith said. “I just think that’s just a reflection of the decline in inventory.”