Two of Las Vegas top real estate analyst Kendall Trotter and Steve Hawks discuss the future of the luxury home market in Las Vegas.Steve Hawks states the semi custom million dollar luxury homes in guard gated communities is going to be hit the hardest. “We already see some homes that were one to two million selling between 600 thousand and 800 thousand” The high rate of cash back mortgage fraud in the million dollar market will cause the highest rate of million dollar foreclosures in history. The jumbo loan market has all but dried up. Jumbo loans are now requiring 15-25% down and usually a point or two higher on the rate. The two forecasters would like to report better news but the facts are the facts, prices are getting butchered in the million dollar market! Buyers get ready to have a feast grander than any Las Vegas buffet.
Duration : 0:8:10
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