[Spunkyasp]

Hello,

I am new to home buying and this will be my first home. I've always rented before. I was wondering if it is at all possible to get a livable home in Henderson, NV for under $100,000. By livable, I mean a home that doesn't need any major repairs. Since I've never had a pool before, I would really like a home with a pool. I've looked at various websites and I've seen great homes available at that price range. However, they are all either "pending" or "contingent offer" so I'm not sure if they are really for sale or if it was uploaded by mistake. I'd settle for anything decent, preferably 3 bedroom but 2 bedroom will do. This will only be for me, however I need the extra bedroom(s) for my home office.


If at all possible, could you guys recommend where I can find an expert to help me out with this as well. I've thought of contacting realtors but I believe that they could be biased because after all they're trying to sell their homes.

I'm mostly looking to just know if my requirements are realistic. If not, I will begin looking for a different area as I won't be able to afford something more expensive.


Thanks in advance for your time.

[cre8lite]

i don't think so but there's a few real estate people here....paging LVOC

[Spunkyasp]

Thanks for the reply. I am having trouble navigating the forums, so if possible please post some links. What I'm looking for is a consultant who can help me out with this buy. This is my dream home and I am an easy client to work with. However, I am planning on moving in April 2014, I am posting so far in advance so I can make a good purchase.

[lvoc]

Originally Posted by Spunkyasp

Thanks for the reply. I am having trouble navigating the forums, so if possible please post some links. What I'm looking for is a consultant who can help me out with this buy. This is my dream home and I am an easy client to work with. However, I am planning on moving in April 2014, I am posting so far in advance so I can make a good purchase.

Here is the deal. You can buy a reasonable home in Henderson for around $100,000. The area will be around Boulder Highway/Lake Mead. In general they will be a minimum of 25 years old and some 40 or 50. I do not expect the schools will be very good so think three times with kids.

A pool is unlikely but not impossible. There is one at the moment a homepath deal that might be reasonable. Go to the Homepath site and you should find it. Just below 100,000.

Note that you will have the standard problem of a first time home buyer. The deck is stacked against you on the really nice homes unless they are HUD or Homepath. You simply can't bid against cash investors unless you have a few thousand in additional cash available. Nothing wrong however wit Homepath or HUD other than having to wait until something suitable comes up.

Your other options include looking more widely than just Henderson and looking at townhouses or condos which will give you a much better shot at a newer home.

[observer53]

Originally Posted by Spunkyasp

Hello,



If at all possible, could you guys recommend where I can find an expert to help me out with this as well. I've thought of contacting realtors but I believe that they could be biased because after all they're trying to sell their homes.



Thanks in advance for your time.

People will not be able to recommend realtors in the forums. There are real estate professionals who post here, and recommendations can be made by direct message.

[EA]

I went into a real estate office and asked about buying a home. He laughed at me. The investors are snapping everything under 175~ up. I did find that some of the builders, like Lennar, are selling and helping finance sub 200k homes. I found some brand new nice houses for 150k. With homepath and a decent down payment, that's a mortgage payment around what you'll pay for rent.

[von949]

Originally Posted by extremeatheist

I went into a real estate office and asked about buying a home. He laughed at me. The investors are snapping everything under 175~ up. I did find that some of the builders, like Lennar, are selling and helping finance sub 200k homes. I found some brand new nice houses for 150k. With homepath and a decent down payment, that's a mortgage payment around what you'll pay for rent.

They laughed at you because you were not an investor?

[EA]

Because I asked about buying a house around 100,000 with financing.

[localinsight]

They shouldn't have laughed. That said, I was looking around that same range. It's difficult. Appraisals & bidding wars are a problem - and I actually did not want a pool.
I purchased a homepath condo - a 1 bdrm. Would have loved a 2nd one but the resale stock is just that low that there aren't many.

Perhaps luck can still be a factor. If so, get on MLS listings & diligently scrutinize on a daily basis if possible. There are many speculations about what the market will do but if someone tells you he/she knows you probably shouldn't believe them.

Keep an eye on the homepath & HUD websites as investors generally can't buy them. Google Las Vegas HUD & homepath.
Good luck!!!

[Willy702]

A 3 bedroom home for 100k? I'm not going to laugh at you, but will say good luck. It's not just Las Vegas, any metro area with 2 million people or more does not have such homes right now unless it's a fixer or in an unsafe area.