[Behmalia]

Hello everyone,

My husband has been offered a job in Las Vegas, which he really wants to take. I on the other hand don't want to move, due to the state of the current houseing market. We currently live in ABQ, NM and I am quite happy with the home I own and the weather. However, if my husband does not take the job in Las Vegas we will probably have to move anyway in another year (military). So I guess, I am considering this move to NV. We will probably only be there for three to four years. So my questions are:

1) Can you buy a decent size home in a decent neighborhood in NV for 200K? or should we just rent a home?
2) Are the any good rental homes, in decent neighborhoods, for like 1K a month.
3) What is the job marketing like?
4) How do you currently feel about living in Las Vegas.

Thanks for any input.

[cjski21]

Yes, yes, and the job market is so so at best.

How do I CURRENTLY feel about living here? Bloody hot! My car thermometer hit 117 on 515 at Sunset on the way home.

[Daddys///M3]

Originally Posted by Behmalia

Hello everyone,

My husband has been offered a job in Las Vegas, which he really wants to take. I on the other hand don't want to move, due to the state of the current houseing market. We currently live in ABQ, NM and I am quite happy with the home I own and the weather. However, if my husband does not take the job in Las Vegas we will probably have to move anyway in another year (military). So I guess, I am considering this move to NV. We will probably only be there for three to four years. So my questions are:

1) Can you buy a decent size home in a decent neighborhood in NV for 200K? or should we just rent a home?
2) Are the any good rental homes, in decent neighborhoods, for like 1K a month.
3) What is the job marketing like?
4) How do you currently feel about living in Las Vegas.

Thanks for any input.

1. Yes, there are quite a few REO's that are actually listed at closer to $100 a sq ft. In my neck of the woods (89131) there are a few that are actually listed under $200K. At $200K your mortgage payment assuming a 3% down FHA loan at 6.25% would be around $1350 a month dependant on assessed value (for taxes) and any HOA dues (if applicable).

2. Although I'm sure there are, most of the better areas will be running closer to $1200 a month. You should also be aware that many would-be landlords have absolutely stopped paying their mortgages. It is actually becoming a bit of a problem out here. Opportunism at it's finest. A realtor I work with has a website that will tell you if the home you want to rent (or are currently renting) is in foreclosure. You can also check with the county recorder to see if a notice of default has been filed.

3. That all depends. The job market for construction workers has dried up quite a bit. The job market for health care workers, on the other hand, is absolutely booming. They have many positions that need to be filled, mainly in nursing but also special practice.

4. Absolutely love it. There are only 2 places I would rather be right now, San Diego and Seattle. San Diego, and SoCal in general, will have a longer recovery period than Vegas so for the next 5 years at least that is out. Seattle is just starting to see their bubble burst, so I wouldn't think about that place for another 5 years at least either. That being said, I don't know that even if both spots recovered that I would leave Vegas. The cost of living is still very, very low compared to either city. Housing is much more affordable. Plus, there is just so much going on in Vegas right now. I've always been kind of adventerous and the thought of living in a relatively young city as it comes into it's own excites me, not only because of the desire to see what the growth will bring, but the opportunities that it will afford as well.

Hope this helps.

[olecapt]

200K is reasonably doable. I have been working a 140K client this week and it has been fine. 200K is reasonably easy.

Residental Construction has gone away. Commercial is still booming.

In general it is an adequate job market. Not as good as a year ago but better than most places.