[avarice13]

Hey,

Long time reader, first time poster.. Hoping you guys can be of some assistance please!

Looking to buy a house in the LV area and have found one in North Las Vegas. I have read a lot of the negative & positive comments about the area but still am not sure where I stand.

The place I am looking at is 1500 sqft+ and I am getting a great deal on it (less than $95/sqft), of course, pending an inspection. It is built in 2006, and over 3500 sqft lot, 3BR, is within an HOA community (not gated though).

I am concerned about the locale however. The closest intersection is the SW corner of Centennial and N Pecos Rd. It is north of Craig, so that makes it a little less 'rough' but can anyone please give me some more information on this specific area/block?

Not sure how safe/unsafe this area is...

Of course, my other issue is the market.. Will it continue to drop, etc? I don't think this area will get to be less than $95/sqft, but am wondering if I can pick up a place in Summerlin, Green Valley or Henderson for around $100/sqft if I wait another 2-3 months?!?

Oh ya, I will be renting it out.. Have already found a renter that is interested!

Any tips for a first-time homeowner?

Thanks guys!!!

[airics]

the area you are referring to is not rough> the area that is rough is the northern part of las vegas, not north las vegas... this might be close to the pigfarm.. who is the builder? summerline, green valley, or henderson will not be $100 sf for a 1500sf house.. not going to happen.. if you watch the bank repos, the prices are settling.. be careful of renting, many associations have rules regarding this... this must be a very small unit, 3500sf lot is tiny.. proceed with caution

[avarice13]

Thanks for the quick reply and thanks for clarifying...

Pigfarm????????

Builder is KB... It's in a community called Shadow Springs... Other houses in this area have recently (in the past few weeks) gone for $120++ per sqft, so even if there is room to drop, sub-$95/sqft seemed like a deal to me.

Ya, 3500 sqft is not that big, especially since I've seen some 5000+ in that area.

So, the area is decent?

Thanks for the heads up and warnings! :-)

[airics]

is this on brayton mist drive?

[WildWestDude]

The area is safe and lots of big projects are only down the road
UNLV, a veteran's hospistal, big parks and casinos are coming soon!
I would call this area middle class today and down the road.

[jfkIII]

Proper homework should be done before jumping in on such a purchase...sounds like you're buying blindly.

[avarice13]

Not on Brayton Mist Drive... very close though.. the other side of Palmer!!!

Thanks for the tips... Ya, we have tried to do as much homework as possible in terms of what is available, market comparison wise. We aren't really to make any decision just right now, feeling the waters... But, within the next 30 days, we want to make an investment for sure...

Not really buying blindly; I am actually currently in SE Asia at the moment, hoping to make it down to LV in the next few weeks or having my investment partner head down this week to make a decision on it. We won't be buying without taking a look at the property and a clean inspection report...

airics.. where's the pigfarm you talk about? you got direct msg, btw!

[jfkIII]

PS...RC. Farms (pigfarm in Henderson) is well-known, partly due to the fact that it was featured on a show called 'Dirty Jobs'. This was broadcast nationally on cable TV's Discovery Network.

[airics]

is this a bank owned home? seems very cheap... very small but very cheap.. interesting on how high the property taxes are, my north las vegas home cost $280 and my taxes are $1900, this house is actually $2700 in taxes

[avarice13]

Looks like 2008-2009 RP taxable land+imp = 255046, gross assessed = 89266
falls within TD254, so 3.3675 for 2007-2008 is just over 3K... it is quite high.

Actually, looks like the house is already contingent with an offer (that's not us.. lol) so it may not work out; I guess there'll be LOTS of opportunities in the coming month/s... i hope?!?