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Old 02-17-2019, 03:59 PM
 
373 posts, read 295,650 times
Reputation: 288

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Quote:
Originally Posted by OmegaSupreme View Post
More than the rest of the market? I don't believe the immediate area around the stadium has appreciated more than the general Las Vegas market.
https://www.reviewjournal.com/busine...-in-las-vegas/
https://www.reviewjournal.com/busine...erage-1542813/
https://www.ktnv.com/news/stadium/de...-vegas-stadium
https://www.thedhs.com/blog/las-vega...estate-impact/
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Old 02-17-2019, 06:22 PM
 
Location: Las Vegas
2,040 posts, read 1,419,981 times
Reputation: 1581
None of that is residential. I was looking for numbers on whether houses nearby have increased in value higher than the market average.
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Old 02-17-2019, 06:42 PM
 
Location: Here and there, you decide.
11,766 posts, read 23,099,212 times
Reputation: 3993
Quote:
Originally Posted by MaryoVilla View Post
Have you tried getting an offer from opendoor or offerpad just to see what they can give you? Plus do the math and see if your time is worth $10K.
Youíd have to pay approx 8% to them and then your realtor. Weather sucks so thatís a lot of it. Iíll negotiate and ďloseĒ on the Vegas house because I know my Florida flip will be a winner
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Old 02-17-2019, 06:45 PM
 
Location: Here and there, you decide.
11,766 posts, read 23,099,212 times
Reputation: 3993
Quote:
Originally Posted by Dltordj View Post
Are you doing FSBO?

I personally wouldn't lower the price. I don't know what it looks like, area etc. but from what I've seen for houses I watch they have an offer in about a month.
Iím only 2 weeks in. Itís wierd because the other house sold in 12hrs
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Old 02-19-2019, 05:59 AM
 
Location: Las Vegas
52 posts, read 79,656 times
Reputation: 43
airics - Who would ever price their home at 254k? Thats a cardinal sin to miss the 250k search cutoff which is one of the most popular search setups.. I'd never suggest or allow that my clients price their home at 254k or 255k.. Absolutely horrible horrible idea
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Old 02-19-2019, 09:19 PM
 
206 posts, read 86,751 times
Reputation: 176
Quote:
Originally Posted by WisconsinVegasHeights View Post
I was told yesterday by a real estate agent who I met while riding in an uber that with 3 new resort casinos opening coupled with the opening of the Raiders stadium that there likely will not be a downturn and that waiting for a buyer's market is probably a mistake.

So I'm on the fence about whether or not to make a move or if I should just continue to save money. Any feedback is welcome.

Realistically, how much do I need to save? I have never owned.
Sorry for late reply on this, IMO with the market being so volatile and jittery, it all depends on your situation if it's worth taking the risk to buy. Is this going to be your last stop/retirement place? Are you just buying so you can hopefully make profit and then move later? Do you have family in the area? Do you live alone? You have to look at the big picture and I say this because I know an old couple that wished they had moved to the state where they have their families. Now they are both alone here and no family to help when they get sick. Nothing beats the help of families when you get older.

Ask yourself those questions above, write down your answers on paper and then go from there. I have to admit I made the mistake thinking I was going to retire here and make this my last home. I was wrong, I have a family that needs to be closer to our bigger families, that's why I'm moving, hopefully for the last time.

20% downpayment is the recommended figure when buying a house, but you have to do the DTI math, I cannot remember now how much they allow for mortgage payment plus debt compare to your income. Instead of saving, I recommend pay off all debt then get a mortgage, you will be in a better position to buy. If you don't have debt, then good on you and continue saving.

I don't recommend basing your home purchase on NFL team or casino's, those things are out of your control.

Hope this helps.

Last edited by MaryoVilla; 02-19-2019 at 09:38 PM..
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Old 02-19-2019, 09:26 PM
 
206 posts, read 86,751 times
Reputation: 176
Quote:
Originally Posted by airics View Post
You’d have to pay approx 8% to them and then your realtor. Weather sucks so that’s a lot of it. I’ll negotiate and “lose” on the Vegas house because I know my Florida flip will be a winner
Yeah, bummer, once you get a realtor you can't break that contract without paying them. My neighbor sold their house via opendoor, they got market price for it, but yeah the freaking 7.5% fee is a killer. But compare to say 6% traditional fee, open-door is about $15k more in fees. So yeah, it really is a question of how much you are willing to pay to save time and hassle.

Can't wait to sell in April. I haven't decided if I should go open-door or realtor, though I found a realtor and he said his fee is only 1% plus buyer's fee of maybe 2-3%, sounds like a good deal but I'll have to see.
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Old 02-20-2019, 08:27 AM
 
Location: North Las Vegas, NV
275 posts, read 86,807 times
Reputation: 187
Quote:
Originally Posted by MaryoVilla View Post
Sorry for late reply on this, IMO with the market being so volatile and jittery, it all depends on your situation if it's worth taking the risk to buy. Is this going to be your last stop/retirement place? Are you just buying so you can hopefully make profit and then move later? Do you have family in the area? Do you live alone? You have to look at the big picture and I say this because I know an old couple that wished they had moved to the state where they have their families. Now they are both alone here and no family to help when they get sick. Nothing beats the help of families when you get older.

Ask yourself those questions above, write down your answers on paper and then go from there. I have to admit I made the mistake thinking I was going to retire here and make this my last home. I was wrong, I have a family that needs to be closer to our bigger families, that's why I'm moving, hopefully for the last time.

20% downpayment is the recommended figure when buying a house, but you have to do the DTI math, I cannot remember now how much they allow for mortgage payment plus debt compare to your income. Instead of saving, I recommend pay off all debt then get a mortgage, you will be in a better position to buy. If you don't have debt, then good on you and continue saving.

I don't recommend basing your home purchase on NFL team or casino's, those things are out of your control.

Hope this helps.
Thanks. Great insight. The family issue is a valid point. I do not have any children to help me when I get older. I have two younger siblings in Wisconsin that I am close to and hopefully will never have to burden them but there really won't be anyone else in the picture.

I am single with zero debt and no vehicle expenses or loans. According to someone's reply and their income calculations in proportion to house costs, I could only afford 150,000. Are there condos at that price? Some weeks I actually log 60 plus hours between my two jobs but I am not making six figures.

I am nowhere near 50k in savings although that is an amount that is certainly attainable.

Last edited by WisconsinVegasHeights; 02-20-2019 at 08:36 AM..
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Old 02-20-2019, 04:37 PM
 
19 posts, read 4,963 times
Reputation: 17
Interesting I’m seeing new construction and resale homes not moving or prices dropping since November to date, wonder if this is a temporary thing or signs of things to come later this year.

As I shared on the contrary I’m getting into a new build at Inspirada in Henderson and the builder was not even willing to budge or give incentives despite all this ..scratching me head
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Old 02-20-2019, 04:45 PM
 
11,644 posts, read 4,270,549 times
Reputation: 5080
Quote:
Originally Posted by WisconsinVegasHeights View Post
Thanks. Great insight. The family issue is a valid point. I do not have any children to help me when I get older. I have two younger siblings in Wisconsin that I am close to and hopefully will never have to burden them but there really won't be anyone else in the picture.

I am single with zero debt and no vehicle expenses or loans. According to someone's reply and their income calculations in proportion to house costs, I could only afford 150,000. Are there condos at that price? Some weeks I actually log 60 plus hours between my two jobs but I am not making six figures.

I am nowhere near 50k in savings although that is an amount that is certainly attainable.
You a vet? VA finance is still the best deal around. Note though that both VA and FHA financing on condos can be tricky.


There are lots of reasonable condos available in the $150,000 region. Note that "condo" can be misleading. Many town homes are quite similar and basically legally the same as condos. There are a set of both around the area where you now live.
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