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Old 05-16-2013, 12:25 AM
 
5 posts, read 5,474 times
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Default This condo looks to good to be true, what gives?

I'm living in Spain but looking to move back to the States. I can't afford to move back to SoCal because the housing prices are still too high. The prices in Vegas though seem to have really come down since I left the States 5+ years ago. Some just seem to good to be true, like this listing...

http://www.trulia.com/property/30831...Vegas-NV-89103

That looks like a nice condo for $50,000, am I missing something here? There seem to be a least a few dozen decent condos in the price range and houses for not too much more than that.

http://www.trulia.com/property/30849...Vegas-NV-89110

I'm visiting family in San Diego at the moment and thinking of taking a trip out there to see some of these properties. I just want to get the scoop from you all first. If it seems to be good to be true it probably is.
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Old 05-16-2013, 12:44 AM
 
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Industrial area but pretty much near the Strip. Nothing in the area but warehouses, railroad tracks. No parks nearby, nor grocery stores. Nearest grocery store would be around the China town area or up West on Flamingo and Decatur. If you like to be near the Strip then it is very close to the Strip. It is in the town of Paradise. Walking distance to Rio, Gold Coast and the Palms. You can find a better condo in a better location.
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Old 05-16-2013, 12:51 AM
 
184 posts, read 180,504 times
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Google las vegas crime map by zip code and check the crime stats for the area. Do yourself a favor, check with a Realtor about this complex and others in your price range. Make sure the condo complex doesn't have a lot of units that are not
having their HOA dues paid....someone (other owners that include you) might have to make up the difference.

I have read and been told that financing is almost impossible for condos. Most importantly come out for a visit and check any condos your Realtor might have lined up for you to see. Good luck.
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Old 05-16-2013, 12:56 AM
 
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Thanks for the quick reply. What areas of LV would you recommend? Being close to the strip is not important to me. Just something safe, i.e. not in a gang invested part of town is good enough.
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Old 05-16-2013, 01:15 AM
 
1,450 posts, read 775,793 times
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Quote:
Originally Posted by SpainGuy View Post
Thanks for the quick reply. What areas of LV would you recommend? Being close to the strip is not important to me. Just something safe, i.e. not in a gang invested part of town is good enough.
--

Last edited by Clarkcty; 05-16-2013 at 02:27 AM.. Reason: Double Post
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Old 05-16-2013, 01:26 AM
 
1,450 posts, read 775,793 times
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Quote:
Originally Posted by SpainGuy View Post
Thanks for the quick reply. What areas of LV would you recommend? Being close to the strip is not important to me. Just something safe, i.e. not in a gang invested part of town is good enough.
You can find many properties online, post some here and people will give you their opinions.
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Old 05-16-2013, 01:33 AM
 
5 posts, read 5,474 times
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Quote:
Originally Posted by Clarkcty View Post
You can find many properties online, post some here and people will give you their opinions.
Here is a HUD home for $56,000... looks like it needs a little bit of work but still in nice condition.

http://www.trulia.com/property/10626...Vegas-NV-89156

If that is not in a bad area of town and there are no strings attached, that looks great to me.

Last edited by SpainGuy; 05-16-2013 at 01:57 AM..
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Old 05-16-2013, 03:25 AM
 
881 posts, read 497,485 times
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The first property might actually be a condo that is in an association with the intention of being rented through Palms Casino. Not the nicest parking lot but you could have the option of renting it on a daily/weekly/monthly basis as a furnished rental if you decide you do not want to use it yourself.

The next two are near Nellis Air Force Base and are on the east side of town. Some people here will tell you to avoid Sunrise Manor. Otherwise will say certain areas are nice but you must pass through the bad areas to get to the nice areas. Either way Sunrise and NLV are some of the only places left where you can find properties at ~$50/sqft. If you're not hung up on the location and want a house instead of a condo it could be an option for you.

The one on Tabitha looks like an older unit but you get more sqft. However, the extra 150 sqft is negated by it being a 2 story as your sqft are wasted on a stairway.

Try to inspect the neighborhood during different parts of day to see what it's like. Do the houses around you have families with 6 adults all driving cars and parking on the driveway and curbside? Do kids walking home from school litter or try to hop people's fences to take shortcuts? These are just some examples of little things you may not see by just one viewing. Be cautious and never rush into a purchase unless you feel very good about it and it makes sense for you.
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Old 05-16-2013, 03:34 AM
 
5 posts, read 5,474 times
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Quote:
Originally Posted by ddrhazy View Post
The first property might actually be a condo that is in an association with the intention of being rented through Palms Casino. Not the nicest parking lot but you could have the option of renting it on a daily/weekly/monthly basis as a furnished rental if you decide you do not want to use it yourself.

The next two are near Nellis Air Force Base and are on the east side of town. Some people here will tell you to avoid Sunrise Manor. Otherwise will say certain areas are nice but you must pass through the bad areas to get to the nice areas. Either way Sunrise and NLV are some of the only places left where you can find properties at ~$50/sqft. If you're not hung up on the location and want a house instead of a condo it could be an option for you.

The one on Tabitha looks like an older unit but you get more sqft. However, the extra 150 sqft is negated by it being a 2 story as your sqft are wasted on a stairway.

Try to inspect the neighborhood during different parts of day to see what it's like. Do the houses around you have families with 6 adults all driving cars and parking on the driveway and curbside? Do kids walking home from school litter or try to hop people's fences to take shortcuts? These are just some examples of little things you may not see by just one viewing. Be cautious and never rush into a purchase unless you feel very good about it and it makes sense for you.
Thanks for the reply and the great info. I'm not really in a rush, but would not want to miss out on a deal at the same time.

I do see a lot of places in the lower price range in Sunrise Manor. You say some would tell me to avoid that area, why is that?
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Old 05-16-2013, 04:14 AM
 
881 posts, read 497,485 times
Reputation: 528
To be blunt, "lots of poor mexicans".
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