[pommysmommy]

I don't want to engage in bidding wars. I do believe that real estate in Las Vegas has not hit bottom yet. We are firm about retiring in Las Vegas but do not want to get caught up in bidding too high in a likely falling market. What say all of you?

[airics]

you stated this in your previous posts.. reread

[jjameson922]

If you're talking about bidding wars, that must mean you are focusing on only repo's. And if you are focusing on repo's, that must mean you are looking more for a good deal than just simply buying a retirement home. I intend to purchase a retirement home but I am more concerned with getting exactly what I want and not the deal. I figure I am fluent enough with what should be the realistic and fair price according to available comps and then going a step further, when the time comes that home has to be sold, what effect will it have on me whether a killing is made off of it or it breaks even?

[pommysmommy]

Originally Posted by jjameson922

If you're talking about bidding wars, that must mean you are focusing on only repo's. And if you are focusing on repo's, that must mean you are looking more for a good deal than just simply buying a retirement home. I intend to purchase a retirement home but I am more concerned with getting exactly what I want and not the deal. I figure I am fluent enough with what should be the realistic and fair price according to available comps and then going a step further, when the time comes that home has to be sold, what effect will it have on me whether a killing is made off of it or it breaks even?

We really don't care if it is a bank owned or not. The problem we have now, (I posted on another thread) is that my b in law has backed out of renting the property we buy until we are ready to move.

[pommysmommy]

Originally Posted by airics

you stated this in your previous posts.. reread

Sorry Airics, must be old age. My apologies for being repetitive.

[jjameson922]

My suggestion, as you asked on the other thread but I did not want to answer there, is, take the coming years to learn all you can about the city and it's neighborhoods and then buy in LV when you are retired. Buying now and renting suggests you are looking for a deal. Deals mean bidding wars. The strong repo market has caused a broad price decrease across all the houses that are for sale. Buy what you want, where you want, when the time is right and forget about that flakey bil who considers Sun Cities being one foot into the grave and remember when the time comes to sell this place, appreciation and depreciation is probably not something you are going to be one bit worried about. The most important thing is to be happy and content with what you have purchased while enjoying the neighborhood and city you have chosen for the next 10 - 20 years. About all depreciation or appreciation means to me at that point is, the assisted living center I have gone to doesn't have as many ammenities as I had hoped (never will let that happen) or, my kids didn't land in as deep a tub of butter as they were hoping. Since they live even nicer than I do now, that's another one of my least concerns.

[pommysmommy]

Originally Posted by jjameson922

My suggestion, as you asked on the other thread but I did not want to answer there, is, take the coming years to learn all you can about the city and it's neighborhoods and then buy in LV when you are retired. Buying now and renting suggests you are looking for a deal. Deals mean bidding wars. The strong repo market has caused a broad price decrease across all the houses that are for sale. Buy what you want, where you want, when the time is right and forget about that flakey bil who considers Sun Cities being one foot into the grave and remember when the time comes to sell this place, appreciation and depreciation is probably not something you are going to be one bit worried about. The most important thing is to be happy and content with what you have purchased while enjoying the neighborhood and city you have chosen for the next 10 - 20 years. About all depreciation or appreciation means to me at that point is, the assisted living center I have gone to doesn't have as many ammenities as I had hoped (never will let that happen) or, my kids didn't land in as deep a tub of butter as they were hoping. Since they live even nicer than I do now, that's another one of my least concerns.

Thank you. Vegas is our kind of town and I know we will find just the right property to spend our "golden years". We are coming back in Nov for our anniversary. We can look at some communities at that time. It will certainly be much cooler.

[new2lv]

Anything bank-owned sub 100k will most likely ensue a bidding war. Realtors are looking at these property much like eBay. They'd rather unload them to the highest bidder and each walk with their 3%. Just be sure to read the writing, especially on any counters. They just love to nickel and dime.

[pommysmommy]

The realtor we were working with told us to be prepared to offer on at least 10 properties over the asking price. Not our cup of tea. We are not in a hurry.

[jjameson922]

I guess that makes sense if one is looking to buy investment property for rental but find 10 properties you love enough to want to call "home?" Sounds impossible. I walk even if the house is on a street with a stupid name or has the wrong sun exposure.