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Old 06-12-2009, 06:31 PM
 
9,855 posts, read 10,372,090 times
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We are planning to retire in Las Vegas in approx 5 years or so and want to make an offer now on a house in the Iron Horse Est subdivision. The listing shows no HOA or Master Plan Fee, also no SIDS or LIDS. This is a bank owned property. I hope to be able to come in with a cash offer for the property but want to make sure this is a decent area. Thank you in advance for your information and advice.
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Old 06-12-2009, 08:29 PM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 38,047,428 times
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Quote:
Originally Posted by pommysmommy View Post
We are planning to retire in Las Vegas in approx 5 years or so and want to make an offer now on a house in the Iron Horse Est subdivision. The listing shows no HOA or Master Plan Fee, also no SIDS or LIDS. This is a bank owned property. I hope to be able to come in with a cash offer for the property but want to make sure this is a decent area. Thank you in advance for your information and advice.

It is a decent area. Very convenient to the strip and airport.

Enjoy...there are few places better if you like the strip.
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Old 06-12-2009, 08:42 PM
 
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That is great news! Thank you. My brother in law has committed to rent with an option to buy into the property with us. We were concerned about buying and renting to a stranger.
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Old 06-13-2009, 07:31 PM
 
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The property you are referring to was just sent to me today by a realtor as a hot reo. I would imagine everyone and their brother is aware of it now and jumping on it if that's what they are interested in.
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Old 06-13-2009, 07:46 PM
 
9,855 posts, read 10,372,090 times
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Originally Posted by jjameson922 View Post
The property you are referring to was just sent to me today by a realtor as a hot reo. I would imagine everyone and their brother is aware of it now and jumping on it if that's what they are interested in.
And your point is......................?
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Old 06-13-2009, 07:59 PM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 38,047,428 times
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Originally Posted by pommysmommy View Post
And your point is......................?
YOu got 30 minutes to buy it or it is gone...once one hits the viral net they do not last long.
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Old 06-13-2009, 08:04 PM
 
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I will pass. I sure as H am not getting into a bidding war.
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Old 06-13-2009, 08:12 PM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 38,047,428 times
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Quote:
Originally Posted by pommysmommy View Post
I will pass. I sure as H am not getting into a bidding war.

Don't sweat it...there will be another..and another...and..well you get the idea.

We had a client go after one on the market a day two weeks ago at 390K. In 48 hours it was in multiple bid mode. We went over around $70K. May not get it. We still don't know.

This is not a rational market...and it can get competitive. You need to make an upfront decision on how much you will pay. You can offer a whole lot less...but be prepared to bid what it is worth to you if it gets competitive.
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Old 06-13-2009, 08:17 PM
 
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I think that this a sign for me not to buy.
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Old 06-14-2009, 01:18 AM
 
1,365 posts, read 4,456,076 times
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That is the norm now. I found our home after being listed for only 6 days, we were going back and forth with the bank, but in the mean time about 5 more offers came in. We were lucky to get it. I was on pins and needles for a couple of days. LOL
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