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Old 08-31-2008, 10:51 PM
 
Location: Louisiana
157 posts, read 558,109 times
Reputation: 50

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Thanks again for all the advice on Vegas. Now I am researching Foreclosures (not short sales too hard to capture one of those homes) Price ranges (2 houses) Need low crime area and area where it would be safe to raise kids. My daughter is moving with me and may one day get married hopefully and supply me with grandkids. i am buying a house probably around 200-250 want minimum 2000 sqft and absolutely a pool. If it does not have one how much to install a non fancy one.

other house 150-200 (pool hopefully) min sqftg 1900.

Both in nice neighborhoods. Guess Summerlin is too prices I have heard.

Will be working within 3 miles of Summerlin inside the loop 215.

Also, we have 10000 sqft lots where we live. What are we going to find there.

I went on several web sites real estate that showed foreclosures but to drill down I could not figure out where they were in the city.

Do you think the foreclosure prices will continue to decline.
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Old 08-31-2008, 11:01 PM
 
Location: Las Vegas, NV
2,990 posts, read 8,680,541 times
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I'm sure Olecapt can fill you in most of your questions. But if you want to put a pool in a home without an existing pool, it will cost about 40-50K for a nice custom pool. I just had a new customer that installed a 30,000 gallon pool with very good equipment for $45K.
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Old 08-31-2008, 11:15 PM
 
Location: Here and there, you decide.
12,908 posts, read 27,860,829 times
Reputation: 5050
the 150-200 with a pool would be a needle in a haystack... even in my area 89131 northwest, they just had a 2200sf home with a pool that needed at least 50k in work (the backyard was an absolute disaster area - lot size 8000sf) sell for 18,000 OVER list... bank asking was 232,000 sold for 250 and in my opinion, that was cheap..
so in your under 250 price range, i think you are going to be to the east or in an older home...(i know nothing about the older homes, i only looked at 5yrs or younger)
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Old 08-31-2008, 11:30 PM
 
Location: Houston, Texas
10,447 posts, read 49,508,076 times
Reputation: 10614
Foreclosures are all over the place. I dont think there is any way to pin down where the majority are. Perhaps Realtors have a way of isolating a specific area with a criteria box for foreclosures only.

10,000 sf lot in Summerlin? If there were any it would be more then 4 times your price range. 5-6,000 sf is more like it. You can usually stick your hand out your side window and touch the home next to you in most Summerlin tracts.

I would not bet money on it but I venture to guess you can find a decent home with a pool for your price range in Summerlin. Prices have come down so much that I think maybe you can. Dont buy a home and put a pool in. Find a home with the pool already in.
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Old 09-01-2008, 01:16 AM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 38,047,428 times
Reputation: 2661
Quote:
Originally Posted by GoreeGal View Post
Thanks again for all the advice on Vegas. Now I am researching Foreclosures (not short sales too hard to capture one of those homes) Price ranges (2 houses) Need low crime area and area where it would be safe to raise kids. My daughter is moving with me and may one day get married hopefully and supply me with grandkids. i am buying a house probably around 200-250 want minimum 2000 sqft and absolutely a pool. If it does not have one how much to install a non fancy one.

other house 150-200 (pool hopefully) min sqftg 1900.

Both in nice neighborhoods. Guess Summerlin is too prices I have heard.

Will be working within 3 miles of Summerlin inside the loop 215.

Also, we have 10000 sqft lots where we live. What are we going to find there.

I went on several web sites real estate that showed foreclosures but to drill down I could not figure out where they were in the city.

Do you think the foreclosure prices will continue to decline.
Well let us see...

There are around 4000 homes with pools for sale in Las Vegas.

On the west side..west of Decatur...there ae 1458

Minimum of 1800SF there are 1263 left.

Below 250K there are 70.

Of the 70, 1 is in Summerlin, 2 are in Desert Shores, 2 are in the Lakes and one is in Pecole Ranch. The rest are scattered many in older neighborhoods.

Of the 70 homes 24 are pre 1980, 14 from 1981 to 1990, 21 are from 1991 to 2000 abd 11 are built since 2001.

Around half appear to be repos though I did not count them precisely.

Below $200K there are 15 pretty much all undesirable. If however you drop the size criteria there are 103...so actually better than the bigger more expensive house.

I would think you can sort the 70 to 12 or 14 in a couple of hours. And then see them all in a day. So go do it. If you don't find anything suitable then you can start sweating the alternaitves .
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Old 09-01-2008, 02:15 AM
 
Location: Nevada
2,071 posts, read 6,673,625 times
Reputation: 1242
Default sucks

thats bad! For those who have to move, want to move , they cant! How could anyone sell in a market like this? On our street in Henderson we have 2 foreclosures alone.

In my opinion we are years away from seeing or homes raise in value!
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Old 09-01-2008, 10:48 AM
 
Location: Here and there, you decide.
12,908 posts, read 27,860,829 times
Reputation: 5050
before the values rise, you have to clear the foreclosures..

do i see the prices dropping much more, not really
do i see prices rising on the repos, slightly
do i see prices rising on the owner occupied, not for a while (2010)

just my opinion
now is the time to buy, definitely not to sell
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Old 09-01-2008, 04:46 PM
 
Location: Houston, Texas
10,447 posts, read 49,508,076 times
Reputation: 10614
Quote:
Originally Posted by Positiveone View Post
thats bad! For those who have to move, want to move , they cant! How could anyone sell in a market like this? On our street in Henderson we have 2 foreclosures alone.

In my opinion we are years away from seeing or homes raise in value!
What Olecapt said was actually good....if your a buyer. But there ain't none of those hanging around. You only have 2 foreclosures on your block? You lucky dog. Most of us have much much more. Seems like every night I walk my Aussie we see another new bright yellow sign in a window.

Your opinion is pretty close to fact. It will be quite a few years before this housing market changes. A whole lot of loss has to be swallowed and us average joes will not be doing much swallowing. The damn banks we all love to hate will be doing the vast majority of that swallowing. I hope they swallow so much loss that their bellies explode.

I say 3 more years before we see any uptick in housing prices. Maybe more. Look at the many thousands of ex-homeowners who walked away from their homes. They will not be buying for 3 or more years with the credit they now have. That is removing a whole lot of buyers from the home buyer pool. I will save this post till 3 years are up. Those who are saying next year or even more hilarious, those who say after the election things will change will remember their boo boo forever.
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Old 09-01-2008, 04:49 PM
 
Location: Beautiful Upstate NY!
13,814 posts, read 28,389,201 times
Reputation: 7615
3 years at today's LV foreclosure rate would be catastrophic for LV.
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Old 09-01-2008, 04:59 PM
 
Location: Houston, Texas
10,447 posts, read 49,508,076 times
Reputation: 10614
Quote:
Originally Posted by jfkIII View Post
3 years at today's LV foreclosure rate would be catastrophic for LV.
You ain't kidding about that. Even working class middle and upper class families will start abandoning their homes too. 60% of the cities homes will be bank owned !!!

Dont even think it. But it could happen.
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