U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Nevada > Las Vegas
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 10-28-2017, 09:53 PM
 
10,712 posts, read 3,742,867 times
Reputation: 4690

Advertisements

Quote:
Originally Posted by equid0x View Post
I wouldn't dare to rent a unit in this town below $300/mth. No doubt they probably exist, but I think you are asking for trouble in doing so.

I found some condos up in Northtown that I can buy flat out for $15K with no HOA but would I live there? Hell no.
I do not believe that is possible. A condominium by its very nature requires an HOA.

Cite a source of these 15k condos. I would certainly buy them almost anywhere in Vegas. They would be an absolute gold mind.
Reply With Quote Quick reply to this message

 
Old 10-28-2017, 10:29 PM
 
272 posts, read 136,385 times
Reputation: 178
Quote:
Originally Posted by lvmensch View Post
I do not believe that is possible. A condominium by its very nature requires an HOA.

Cite a source of these 15k condos. I would certainly buy them almost anywhere in Vegas. They would be an absolute gold mind.
Well, you totally can buy a condo without an HOA. There are other legal constructs, such as a co-op. It may be totally uncommon to find a condo sans HOA here but there is nothing legally preventing it, even if there was no HOA or Co-Op at all.

I have no idea if these listings are still there, but I doubt it. I was looking back in 2012-2014 and I have extended family who live here that works for LVMPD who made it abundantly clear that I should not, under any circumstances buy there. To be honest, I wasn't really entertaining the idea, but I wanted to know why they were so cheap because it just seemed completely unreal to me.

That said, I can still find condos here that are plenty cheap like that and I still wouldn't buy there. I was just making a point.

I mean I just recently found listings in Lake Las Vegas in the low 100's. I tried to jump on these right away but did not win the bidding war. Does that mean they didn't happen? How do I prove that? I am not aware of any version of the MLS that will show you all of the historical data on a map, but if you can point that out, I would be greatly interested in it.
Reply With Quote Quick reply to this message
 
Old 10-29-2017, 09:07 AM
 
3,574 posts, read 4,014,298 times
Reputation: 3051
Quote:
Originally Posted by equid0x View Post
I am not aware of any version of the MLS that will show you all of the historical data on a map, but if you can point that out, I would be greatly interested in it.
redfin.com does that
Reply With Quote Quick reply to this message
 
Old 10-29-2017, 11:05 AM
 
10,712 posts, read 3,742,867 times
Reputation: 4690
Quote:
Originally Posted by equid0x View Post
Well, you totally can buy a condo without an HOA. There are other legal constructs, such as a co-op. It may be totally uncommon to find a condo sans HOA here but there is nothing legally preventing it, even if there was no HOA or Co-Op at all.

I have no idea if these listings are still there, but I doubt it. I was looking back in 2012-2014 and I have extended family who live here that works for LVMPD who made it abundantly clear that I should not, under any circumstances buy there. To be honest, I wasn't really entertaining the idea, but I wanted to know why they were so cheap because it just seemed completely unreal to me.

That said, I can still find condos here that are plenty cheap like that and I still wouldn't buy there. I was just making a point.

I mean I just recently found listings in Lake Las Vegas in the low 100's. I tried to jump on these right away but did not win the bidding war. Does that mean they didn't happen? How do I prove that? I am not aware of any version of the MLS that will show you all of the historical data on a map, but if you can point that out, I would be greatly interested in it.
It is simply not possible to have a condo without an HOA. You can change the name if you wish but the organization simply has to exist. The nature of a condo is that you own the air within the paint on the interior of a dwelling. You cannot own that air without a frame to hold it and that frame is owned by the Association.

I am familiar with coops which are in fact the most invasive form of an Association. In a coop you own nothing other than shares in the Association and the right to dwell in a unit. But you personally own nothing physical. It all belongs to the Association.

Five years or more ago you might have found lower limit condos at $15,000. They are now above $50,000. Just setting up to sell a couple of condos for an old client...one was $32,000 in 2011. It is now over $100,000. If you had bought those $15,000 condos you would now have tripled or quadrupled your money. Note that the most lucrative RE has always been slum or near slum. You simply have to have the where with all to manage them or hire someone who does. I would not but that does not change the fact is pays very well.

Lake Las Vegas is an interesting case. Some speculated that might be the place where you could buy properties for nothing. Did not quite happen but got close. The reason of course was very high HOA fees.
Reply With Quote Quick reply to this message
 
Old 10-30-2017, 12:15 AM
 
Location: Las Vegas
30 posts, read 25,696 times
Reputation: 47
No, that sounds like a bait and switch or scam. And rents are going up not down to correct another's comments here.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Options
X
Data:
Loading data...
Based on 2000-2016 data
Loading data...

123
Hide US histogram

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Nevada > Las Vegas
Similar Threads
View detailed profiles of:
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2018, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top