Comments by karnenl42 - Las Vegas Sun

Comments by user: karnenl42

Posted on: Home prices continue to tumble

We all understand that the economy has taken a tumble,and that many as a result have suffered great financial loss, especially people who have invested in homes in the past year. I'll explain; in Las Vegas there is a growing phenomena of builders attracting new homeowners to new developments with wonderful idyllic promises of a master planned community etc., to be completed and ready at a certain date! Thousands of innocent buyers such as myself have bought into this promise, only to find out that the builders have left the neighborhoods incomplete and have no future plans of actually completing them, and as a result the promised parks etc. look like deserted grounds. When my toddler grows up those parks will not be as important to me anymore, I was promised them now!I didn't give away my money to look at empty lots with half built walls and iron wires sticking out everywhere. The serious problem that I'm having is that these very builders then go off and begin another development elsewhere, which in turn they leave incomplete. The entire North West side of Las Vegas is a joke, it's made out of half (or less) built neighborhoods. People who have put their life savings into Pardee homes which within a few months of purchase dropped by 200k are now stuck with negative equity, and a home in an incomplete neighborhood. Those who think that they want to move to Las Vegas should bare in mind that they will be moving into what seems to be a lawless state, one which rewards the unscrupulous and strong. Shame on you Mayor Goodman that you have no interest in curtailing the actions of these builders and bringing back hope and dignity to the lives of people who put all they had into their homes. If anyone reading this feels the same way and wants to fight the system and help change the laws pertaining to builders in this state, please send a comment too.

(Suggest removal) 1/9/09 at 2:32 p.m.