[vegaslocal55]

Originally Posted by volfanga

Look into real estate auctions make sure you do your due
diligence and there are many great deals to be had. I bought
my place through an auction in Feb.

What auction company held that auction?

[sdreloc]

So what about the Lone Mountain area west and mostly north of Centennial Hills Hospital zip 89149? I noticed, not just a few, but actually quite a large number of newer homes priced under $100K in 89149.

I'm thinking there is a catch to these prices, but I don't see it other than I see almost no single story homes and some of those homes are tri-level and only have 1 car garages even in some larger floor plans. Many of them are quite a long trek from the hospital, but there are some that are close enough that you could actually walk to Montecito Marketplace with Smiths supermarket and other shopping and restaurants as well as walk to the Centennial Hills Transit Center for an easy express bus ride to downtown Las Vegas and the strip. Those very close to the shopping were listed in the $99K range, so maybe all of those are just falsely low list prices that will be bid up to higher prices, but once you go a mile or so north from the shopping center, there is a much bigger selection of homes priced even under $80K. That leaves a lot of room even if they are bid up higher, but from the age of some of these listings, they don't appear to be selling super fast.

There is a house at 8925 Sally Rose Ave (near the shopping center) that looks great in photos and had the asking price reduced to $99,900 which suggests it wasn't selling at the previous asking price. As far as I can tell, the HOA fee is only $25 per month. There was another in the general area that had a central vacuum system and was listed in the same price range.
I'm not very interested in multilevel homes due to the hassle of stairs and the higher utility bills, but if that was a realistic price, I might think twice and start looking around there instead of getting a condo.

What are opinions on single family homes in those areas?

[airics]

check the comps... i've been trying to buy there for a few months now and getting outbid all the time.. and i'm not going below list either

[sdreloc]

Originally Posted by airics

check the comps... i've been trying to buy there for a few months now and getting outbid all the time.. and i'm not going below list either

There is a house listed for $100K at 9573 Sandybuck that has been on the market since 2008 and has had around 10 price reductions. I wonder why there was no bidding frenzy there when it dropped to 104,800 in February? They had to reduce it again to $100K.

[airics]

there are some strange things happening... the last condo i bid on was on the market for 300+ days...price started at 160 then 140, 120, 100, 80, then 59... i bid 65 - sold for 93k.. weird... i also bid on a 3br at grand canyon... listed at 40k (needed work)... bid 47k was told i was second... sold for 71k

[sdreloc]

I wonder why no one bid $93K when it was listed for 100K and when it was 80K? Did the person pay above comps when they paid $93K for it?

Since I will be an owner occupant, I might buy a home that's in the Homepath program. If you make an offer during the first 14 days of a new Homepath listing, you don't have to bid against investors.
If I buy a condo, I will only buy one in a development with restrictions to prevent investors buying them.

[macgeek]

Originally Posted by sdreloc

I wonder why no one bid $93K when it was listed for 100K and when it was 80K? Did the person pay above comps when they paid $93K for it?

Since I will be an owner occupant, I might buy a home that's in the Homepath program. If you make an offer during the first 14 days of a new Homepath listing, you don't have to bid against investors.
If I buy a condo, I will only buy one in a development with restrictions to prevent investors buying them.

With Homepath do you HAVE to finance it, or can you make a cash offer?

Jonathan

[olecapt]

Originally Posted by sdreloc

I wonder why no one bid $93K when it was listed for 100K and when it was 80K? Did the person pay above comps when they paid $93K for it?

Since I will be an owner occupant, I might buy a home that's in the Homepath program. If you make an offer during the first 14 days of a new Homepath listing, you don't have to bid against investors.
If I buy a condo, I will only buy one in a development with restrictions to prevent investors buying them.

It is a short and likely a compex one. Appears to have gone to contract at least twice and fallen out. These transactions are simply undecipherable without direct knowledge of the liens and the banks and the financial status of the seller.

You can do a cash deal on a homepath. Finance any old way. The requirement in the initial period is that you be an owner occupant.

[sdreloc]

Originally Posted by macgeek

With Homepath do you HAVE to finance it, or can you make a cash offer?

Jonathan

You do not have to use financing.

[sdreloc]

Originally Posted by airics

there are some strange things happening... the last condo i bid on was on the market for 300+ days...price started at 160 then 140, 120, 100, 80, then 59... i bid 65 - sold for 93k.. weird... i also bid on a 3br at grand canyon... listed at 40k (needed work)... bid 47k was told i was second... sold for 71k

What do you mean you were "second?" Does that mean if the purchase at 71K fell through, you could have got it for your 47K bid?