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Old 12-14-2018, 09:31 PM
 
1,954 posts, read 2,151,154 times
Reputation: 2067

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I knew it

We were going to buy a new build, but they were taking longer than I can wait to release the lot.

Our offer was accepted on a house last week so we shall see how it goes.
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Old 12-14-2018, 11:34 PM
 
365 posts, read 175,982 times
Reputation: 602
Quote:
Originally Posted by Dltordj View Post
I knew it

We were going to buy a new build, but they were taking longer than I can wait to release the lot.

Our offer was accepted on a house last week so we shall see how it goes.
I finally pulled the trigger too after agonizing for 1.5 years. Was waiting to see how a few things were going to shake out with my job and it worked out better then I expected then a few weeks later the right house came on the market after looking for many months so decided to go for it. In my mind it will drop 10%, but weíll be out here for at least 3.5 more years and I would have paid more in rent over that time versus what I would lose from a potential 10% drop. I was done with my apartment and renting - nice to have a comfortable space again with a feeling of permanence. This is a place to live, not an investment.

I figured whatever move I made would be the wrong one - if I buy, prices will drop. If I wait they will continue to rise...
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Old 12-15-2018, 07:49 AM
 
Location: Here and there, you decide.
11,653 posts, read 22,862,840 times
Reputation: 3932
I donít think prices are declining. The issue is that the intrest rates are going up. My last Vegas house will go on the market in Feb. itís steadily going up 2% per month
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Old 12-15-2018, 09:06 AM
 
1,954 posts, read 2,151,154 times
Reputation: 2067
Quote:
Originally Posted by airics View Post
I donít think prices are declining. The issue is that the intrest rates are going up. My last Vegas house will go on the market in Feb. itís steadily going up 2% per month
Ive seen a lot of price drops, but many houses are overpriced to begin with. Several we had been watching were eventually just pulled off the market. Others listed, delisted, listed again then delisted. Also noticed redfin, zillow that open door is buying a lot of properties. Sometimes their purchase doesn't even make sense to me. Interest rate was a concern for us. If the feds do those raises and prices go up who wants to buy unless necessary?
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Old 12-15-2018, 09:12 AM
 
1,954 posts, read 2,151,154 times
Reputation: 2067
Quote:
Originally Posted by Cubicle Dweller View Post
I finally pulled the trigger too after agonizing for 1.5 years. Was waiting to see how a few things were going to shake out with my job and it worked out better then I expected then a few weeks later the right house came on the market after looking for many months so decided to go for it. In my mind it will drop 10%, but we’ll be out here for at least 3.5 more years and I would have paid more in rent over that time versus what I would lose from a potential 10% drop. I was done with my apartment and renting - nice to have a comfortable space again with a feeling of permanence. This is a place to live, not an investment.

I figured whatever move I made would be the wrong one - if I buy, prices will drop. If I wait they will continue to rise...

That was our mindset also. We will be in this house a long time. No time is perfect to buy-there will always be a concern of some type. We can pay the mortgage and are good with saving so we'll be fine The only thing that stresses me out is getting the house we are in ready to rent. I do not want to deal with it.
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Old 12-15-2018, 09:48 AM
 
Location: Las Vegas
1,895 posts, read 1,323,504 times
Reputation: 1476
Quote:
Originally Posted by Camaro5 View Post
Not dropping in my neighborhood. We are constantly getting calls from RE agents and mailings about selling our place. The exact house as ours 4 doors down just sold for $80K more that what we paid a little over a year ago and it isn't as nice.

Even though the houses in this area are nice and in a good location I think right now they are a little over-priced versus what we paid. We're not selling any time soon so it doesn't really matter much to us now, but it is interesting.
It won't really matter when you sell, unless you are actively buying and selling properties or moving to a completely different housing market.
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Old 12-15-2018, 09:54 AM
 
Location: Las Vegas
1,895 posts, read 1,323,504 times
Reputation: 1476
Quote:
Originally Posted by Cubicle Dweller View Post
I finally pulled the trigger too after agonizing for 1.5 years. Was waiting to see how a few things were going to shake out with my job and it worked out better then I expected then a few weeks later the right house came on the market after looking for many months so decided to go for it. In my mind it will drop 10%, but weíll be out here for at least 3.5 more years and I would have paid more in rent over that time versus what I would lose from a potential 10% drop. I was done with my apartment and renting - nice to have a comfortable space again with a feeling of permanence. This is a place to live, not an investment.

I figured whatever move I made would be the wrong one - if I buy, prices will drop. If I wait they will continue to rise...
No one in the history of humanity has left Las Vegas earlier than predicted. The general rule of thumb is to multiply the expected time you will stay here by 2.857, i.e. in your case, you will be in this hellish hell-hole of a hole for 10 more years.
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Old 12-15-2018, 10:03 AM
 
Location: Henderson, NV
457 posts, read 357,474 times
Reputation: 597
Did anyone bother to read the article?

Quote:
But prices were still rising up to October thanks to a surge in buyers priced out of California, new jobs in the region from growing data centers, and the planned relocation of the Oakland Raiders football team to Las Vegas in 2020.

The median home price shot up from $265,000 at the beginning of this year to $300,000 in September, according to the Greater Las Vegas Association of Realtors.

In recent weeks the market has shifted, and prices declined to roughly $295,000 in November.
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Old 12-15-2018, 10:28 AM
 
2,156 posts, read 2,232,802 times
Reputation: 1324
If anyone is serious about buying a house, winter is usually the best time to buy. That is because sellers get desperate because that is the slow time of the market and are more willing to take a lower than list offer.
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Old 12-15-2018, 02:14 PM
 
27,313 posts, read 38,548,258 times
Reputation: 35339
Quote:
Originally Posted by 08grad View Post
Did anyone bother to read the article?

Yes. And as I posted our value is continuing to rise.
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