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Old 03-15-2009, 09:07 AM
 
Location: West Chester, PA
3 posts, read 5,059 times
Reputation: 11

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My husband and I visit Vegas often, and have decided to buy a second home there since prices have dropped dramatically. We took two trips there last yr, but we were always back up offers on homes and never closed on anything. We are heading back in a couple of weeks to try again, and would like some opinion on areas and how easily it would be to rent it. Based on past trips, we have zoned in on Seven Hills, Anthem, and Green Valley area. We want an area that will rent more easily than others, but still hold its value for resale years down the road. Is this a good choice? How hard will they be to rent? Are there other areas we should consider more? What's a good management company to use? Is buying a home with a pool a good idea for rental? I realize the increased liability, but I have also been told homes with pools are in higher demand for rental, and my husband and I want to use it as a second home in a few yrs and not rent it, so that's another reason we want a home with a pool. Any information, suggestions, or recommendations are welcome, thanks!
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Old 03-15-2009, 05:20 PM
 
1,359 posts, read 2,752,266 times
Reputation: 853
The questions you are asking are best answered by a competent realtor. Do you not have one if you were previously putting in back up offers? I would hate to think you would make a large financial decision just based on what unknown people on a forum tell you. Jane might say having a pool and buying in Green Valley makes great sense while John writes he wouldn't touch anything that wasn't in the northwest. Would you part with thousands of dollars based on that?
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Old 03-15-2009, 05:34 PM
 
Location: Here and there, you decide.
11,575 posts, read 22,673,604 times
Reputation: 3882
Don't you have a realtor or did yours quit on you because you always backed out?
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Old 03-15-2009, 05:46 PM
 
10,485 posts, read 22,550,683 times
Reputation: 6611
Capt Jane,

You might experience a negative atmosphere here due to the fact you are asking people for advice on something that is now generally frowned upon in Las Vegas. People buying up property and renting it out is one of the main reasons we are in trouble.
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Old 03-15-2009, 06:19 PM
 
Location: Beautiful Upstate NY!
13,819 posts, read 24,548,281 times
Reputation: 7615
hmmm...different perspective there LV drunk. Is LV, as a community, really frowning on future investors as potential buyers in this current market?
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Old 03-15-2009, 09:35 PM
 
Location: West Chester, PA
3 posts, read 5,059 times
Reputation: 11
Wow, people sure are friendly here.
First off, we didn't back out on the other two offers, we put in back up offers on homes that already had contingent offers on them, and they ended up going to someone else. It can be difficult when you don't live close to the area you're buying in; to get the early jump on the home you want.
Secondly, based on what we saw when we had visited there, we liked the Henderson area, but that was our opinion. We were just hoping for some local opinions on their preferred locations, etc., since some day we want to live there. That certainly doesn't mean we would take everything said here as gospel, but other opinions are of interest to us; constructive ones anyway.
Third, I didn't realize LV was so hostile to someone out of state buying a home there. I guess I should have posted something more positive on here like, "Vegas, depressing sight to see" or "Vegas, most abandoned city in US."
Anyway, I want to thank the people who have directly messaged me with worthwhile information, your info and time is greatly appreciated.
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Old 03-16-2009, 05:54 AM
 
Location: Beautiful Upstate NY!
13,819 posts, read 24,548,281 times
Reputation: 7615
Las Vegas has been a little grouchy lately, captjane. The economic climate has been very cloudy, if not downright stormy, there.
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Old 03-16-2009, 06:39 AM
 
1,359 posts, read 2,752,266 times
Reputation: 853
Great Captjane, if you've been pm'd, it sounds like you have some realtor help now. They can give you the statistical figures on what areas have been depreciated the most and the background on any existing HOA's. A rental expert can give you the pros and cons of renting with a pool. The areas you mentioned are all very nice and there are in addition, many others. You now are in the same level playing field most everyone else began in and with more time spent viewing the areas, you should be able to make a good financial decision.
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Old 03-16-2009, 06:59 AM
 
Location: Here and there, you decide.
11,575 posts, read 22,673,604 times
Reputation: 3882
you put in offers on houses that were already contingent? you wasted the realtors time!
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Old 03-16-2009, 07:29 AM
 
Location: Fort Worth and Las Vegas
255 posts, read 485,199 times
Reputation: 73
Quote:
Originally Posted by captjane View Post
Wow, people sure are friendly here.
First off, we didn't back out on the other two offers, we put in back up offers on homes that already had contingent offers on them, and they ended up going to someone else. It can be difficult when you don't live close to the area you're buying in; to get the early jump on the home you want.
Secondly, based on what we saw when we had visited there, we liked the Henderson area, but that was our opinion. We were just hoping for some local opinions on their preferred locations, etc., since some day we want to live there. That certainly doesn't mean we would take everything said here as gospel, but other opinions are of interest to us; constructive ones anyway.
Third, I didn't realize LV was so hostile to someone out of state buying a home there. I guess I should have posted something more positive on here like, "Vegas, depressing sight to see" or "Vegas, most abandoned city in US."
Anyway, I want to thank the people who have directly messaged me with worthwhile information, your info and time is greatly appreciated.
Go to sunrise manor. It's an excellent area with excellent resale value.
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