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Old 12-20-2018, 11:32 PM
 
2,172 posts, read 2,245,472 times
Reputation: 1339

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Quote:
Originally Posted by BBMW View Post
How many houses out there are still stuck in limbo from the '08 implosion?
Do you mean underwater?
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Old 12-22-2018, 03:35 AM
 
116 posts, read 88,344 times
Reputation: 129
Quote:
Originally Posted by OmegaSupreme View Post
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.
We managed to do the reverse! Initially we thought we’d be in Vegas for 10 years, but got out after 3.

Back on topic, we are looking at selling our place in Desert Shores and I received an Opendoor offer yesterday.

Apart from the high fees they charge I thought the offer was very fair.
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Old 12-22-2018, 03:51 AM
 
13,548 posts, read 9,804,812 times
Reputation: 17518
Quote:
Originally Posted by Bulwara Road View Post
We managed to do the reverse! Initially we thought we’d be in Vegas for 10 years, but got out after 3.

Back on topic, we are looking at selling our place in Desert Shores and I received an Opendoor offer yesterday.

Apart from the high fees they charge I thought the offer was very fair.
Take the money and run.

The Dow is at its lowest in many years, and the govt. officially shut down today.
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Old 12-22-2018, 03:59 AM
 
116 posts, read 88,344 times
Reputation: 129
We will as soon as we can get things rolling.
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Old 12-22-2018, 10:15 AM
 
Location: Dallas, TX and Las Vegas, NV
5,187 posts, read 3,911,857 times
Reputation: 10367
We bought our Anthem area house in June 2017 and paid waaaay more than an equivalent house in our home state. I believed then (and now) that its market value will likely drop in the next 5 years. But I bought it to live in. It is of no interest to me what its market value is today, or next month or next year. I bought when I wanted/needed a place to live and agreed to the price. Improvements I make to this house are done for my personal enjoyment. I spend money on my home because I want a firepit/pool/fencing/kitchen gut, etc. When I need to sell it, the same will apply. Its not an investment for me; its a domicile.

Last edited by WorldKlas; 12-22-2018 at 10:27 AM..
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Old 12-22-2018, 11:59 AM
 
10,245 posts, read 8,684,471 times
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Abandoned and not recycled into the market. Houses with delinquent mortgages that can't be foreclosed because of lost paperwork. That type of thing.

Quote:
Originally Posted by ddrhazy View Post
Do you mean underwater?
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Old 12-22-2018, 12:55 PM
 
334 posts, read 281,392 times
Reputation: 263
We will hit the 10 year mark of living in Vegas next spring. Time sure flies fast when you're enjoying life.
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Old 12-22-2018, 04:34 PM
 
13,548 posts, read 9,804,812 times
Reputation: 17518
Quote:
Originally Posted by BBMW View Post
Abandoned and not recycled into the market. Houses with delinquent mortgages that can't be foreclosed because of lost paperwork. That type of thing.
Practically none left. We are now working on a new bubble.
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Old 12-23-2018, 03:22 PM
 
4,550 posts, read 5,430,620 times
Reputation: 4731
Quote:
Originally Posted by NLVgal View Post
Take the money and run.

The Dow is at its lowest in many years, and the govt. officially shut down today.
Wow, uhh what? Lowest in about a year and a half. The sky is not falling. The shutdown has zero to do with the economy at all, whatsoever. What you just wrote is like saying, “Safeway closes early on Christmas Eve. Amazon no longer ships knives.” Like two unrelated things completely unrelated making no sense at all.

The stock market has little to do with the wider economy honestly, which is healthy.
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Old 12-24-2018, 11:54 AM
 
155 posts, read 80,643 times
Reputation: 211
Quote:
Originally Posted by AA702 View Post
I totally agree with what your are saying. I don't know if this can be done with the majority of people out there. People want to be perceived as successful just like in social media and will buy what ever they think they can afford. I've seen people buy cars that are way out of their league because they think "they deserve" that luxury car because they work hard for it. Having that nice house with nice toys to park on the driveway is the American way. I see this quite a bit here in Las Vegas and I really think a lot of people just have too many bills for the amount of income that comes in. I know someone who max out their credit cards just so they can buy all kinds of Christmas presents. Its an endless destruction cycle.
I agree with you 100 percent. The reality is most people aren't looking at what home you live in or what car you drive. They aren't thinking of you. The marketing in America really gets to people. I will never deny that.

What's great about Vegas is that if you are a serious entrepreneur or business person, you can do well here if you aren't controlled by the vices.

If you think the housing market is going to fall here, then wait to buy at a lower point. When you're buying a home, three things should matter:

1. Do I have the money to buy the home to begin with?
2. Can I afford the monthly payment with HOA if you have it, fees or whatever?
3. Do I have some money leftover in case of Emergency expenses on my new home and with my other expenses, what do I have leftover at the end of the month?

Whether you buy high or buy low, everyone's time range is different. The rent prices seem to continue to go up here. Do people really like living without knowing their fate when you rent?

But I understand people are unrealistic in what they can afford and most people in Las Vegas couldn't come up with $500 if you asked them to on the spot. I get that as well.
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