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Old 02-10-2019, 09:13 PM
 
365 posts, read 292,533 times
Reputation: 282

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Quote:
Originally Posted by BuckeyeNation000 View Post
I’m no troll. In reference to going downhill I’m not just talking about my neighborhood in Green Valley Ranch, Vegas as a whole. I have friends in Silverado Ranch and NLV who have observed the same thing. This town has changed dramatically since I got here. On my street 75% of houses are rentals. The people living in these place are California rejects. These are the kind of people who think nothing of throwing trash out their car in front of my house and letting their dogs run loose throughout the neighborhood. Absolute trash. I can only imagine what it’s like in Sunrise Manor.
I live in NLV and my neighborhood has not changed except houses going up all around me, more people and traffic. You are right about Cali people are buying up all the new houses being built.
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Old 02-13-2019, 01:38 PM
 
53 posts, read 81,731 times
Reputation: 49
I was following along in the last thread before it got derailed.

My question - On a $400K budget in Summerlin or Aliante, would you buy or rent right now? Seems like some are saying everything is about to peak so this would be top of the market that we'd be buying in, but then just as many are saying it's not. We're not looking to be investors or flip a house, just have it maintain it's value +/- $10K if we were to sell it in 3 years.
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Old 02-13-2019, 01:59 PM
 
2,212 posts, read 2,293,498 times
Reputation: 1400
Quote:
Originally Posted by dginnc View Post
I was following along in the last thread before it got derailed.

My question - On a $400K budget in Summerlin or Aliante, would you buy or rent right now? Seems like some are saying everything is about to peak so this would be top of the market that we'd be buying in, but then just as many are saying it's not. We're not looking to be investors or flip a house, just have it maintain it's value +/- $10K if we were to sell it in 3 years.
If you're going to be moving in 3 years, then rent.
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Old 02-13-2019, 02:03 PM
 
Location: Here and there, you decide.
11,750 posts, read 23,072,901 times
Reputation: 3989
Quote:
Originally Posted by dginnc View Post
I was following along in the last thread before it got derailed.

My question - On a $400K budget in Summerlin or Aliante, would you buy or rent right now? Seems like some are saying everything is about to peak so this would be top of the market that we'd be buying in, but then just as many are saying it's not. We're not looking to be investors or flip a house, just have it maintain it's value +/- $10K if we were to sell it in 3 years.
rent, and if you decide to buy, not 400k in Aliante.

I have a house on the market, I think the market has softened considerably.
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Old 02-13-2019, 02:32 PM
 
53 posts, read 81,731 times
Reputation: 49
Quote:
Originally Posted by airics View Post
rent, and if you decide to buy, not 400k in Aliante.

I have a house on the market, I think the market has softened considerably.
I'm interested to see what housing prices there will look like in April as more hits the market. I'm really surprised at some of the homes I see up there - $450K for a 3 bedroom 2196 sq ft house in Club Aliante.
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Old 02-13-2019, 02:44 PM
 
Location: Las Vegas
548 posts, read 499,908 times
Reputation: 452
Quote:
Originally Posted by dginnc View Post
I was following along in the last thread before it got derailed.

My question - On a $400K budget in Summerlin or Aliante, would you buy or rent right now? Seems like some are saying everything is about to peak so this would be top of the market that we'd be buying in, but then just as many are saying it's not. We're not looking to be investors or flip a house, just have it maintain it's value +/- $10K if we were to sell it in 3 years.

Don't forget about the cost to sell. 6% realtor commission and closing costs. House would have to appreciate over 8% for you to not lose money if you sell.

Say you sell it for what you paid after living in it for three years. You will lose $32,000 or more.
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Old 02-13-2019, 03:16 PM
 
Location: Dallas, TX and Las Vegas, NV
5,357 posts, read 4,045,988 times
Reputation: 10810
Quote:
Originally Posted by movin1 View Post
Don't forget about the cost to sell. 6% realtor commission and closing costs. House would have to appreciate over 8% for you to not lose money if you sell.

Say you sell it for what you paid after living in it for three years. You will lose $32,000 or more.
We went through a similar exercise over a property we’d be living in for just a few years. Compared buying and selling costs, taxes, insurance vs. rent for 3 years. It still tipped in favor of purchasing..... oh, but we were paying cash for the place. Still, compare all the costs.....if about the same then decide if you’d rather have the “joy” of doing your own repairs vs. the ease of getting out fast when you want.

Also have to consider having control over the property vs. having a landlord.
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Old 02-13-2019, 03:36 PM
 
53 posts, read 81,731 times
Reputation: 49
Quote:
Originally Posted by movin1 View Post
Don't forget about the cost to sell. 6% realtor commission and closing costs. House would have to appreciate over 8% for you to not lose money if you sell.

Say you sell it for what you paid after living in it for three years. You will lose $32,000 or more.
We actually did sell a house recently that appreciated 8% in 2 years in a different state, and we made a good chunk of money on that sell. So, I don't think you need that much appreciation to break even. But even using your $32K+ loss, what if you rented a place for $2K a month over 3 years? That would be $72K lost after 3 years.
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Old 02-13-2019, 03:56 PM
 
11,590 posts, read 4,236,533 times
Reputation: 5060
Appreciation of more than 8% in three years is a virtual given barring a significant US recession.

So those forecasting a significant recession should rent and hope their jobs survive the drop. Given any sort of reasonable national economy their is little doubt that LV will do more than 8% in three years.

Last views quoted in the RJ were projecting just about 8% in 2019 alone.

https://www.reviewjournal.com/busine...-2019-1538682/
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Old 02-13-2019, 05:01 PM
 
Location: Here and there, you decide.
11,750 posts, read 23,072,901 times
Reputation: 3989
Quote:
Originally Posted by movin1 View Post
Don't forget about the cost to sell. 6% realtor commission and closing costs. House would have to appreciate over 8% for you to not lose money if you sell.

Say you sell it for what you paid after living in it for three years. You will lose $32,000 or more.
heres a better idea.. no on the 6% commission... 1% to seller agent 2% to buyer's agents... bonus $1k each if sold and closed in 30 days...on 200k, thats 8k total including the bonus... 4% is more than enough
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