Homes for sale in Lusk, Wy (Torrington: real estate, rental, condo)

[KatCooper]

We are looking at relocating to Lusk,Wy. I have noticed that there are many homes for sale and not many have moved over the last 4 months. While I realize that the economy is bad, it has suprised me that none of homes have moved. Are folks leaving in search of work or are the houses overpriced for the market?? Any input would be appreciated.
Thanks so much,
Kat

[sunsprit]

It's in an area that's mostly an agricultural and ranching based economy.

Without having a job lined up there in advance, there's not much employment in the area which would have folks moving there.

It's also in a tornado area, and it's not uncommon for farmers to see entire crops wiped out for a year. With the recent drought cycle in Wyoming, water has also been a big issue ... functional water has been in very short supply.

I don't know the specific houses you're looking at, but there's a similar pattern in many of the older small ag towns on the plains that were essentially based as railroad service worker towns ... more housing there than is needed in the current economy and more efficient modern equipment for farming needing fewer workers. There's not a lot of amenities to attract people there, and it's not very close to shopping, restaurants, or other attractions of a larger community. Like other isolated prairie towns close by the mineral/extractive industries, it's a pretty stark existence to be there.

[KatCooper]

Thanks for the response. I was not aware of the drought issues. My husband and I are both nurse practitioner who have interviews at the local hospital, which was reopened a few years ago. We hope to relocate for a minimum of 2-3 year, but could be permanent. Our 9 year old will be with us as well. We live in a rural area in MS with a pop of 500. Everything is at least an hour from us, so I think from that aspect we will be fairly well prepared. The weather will be a different issue. Preparing for large snowfall (we get maybe 3 inches here) will be a challenge, but one we are looking forward to. Thanks again for your response!

[StealthRabbit]

Do be careful about buying a home in a rural (quite rural) town. It may be very hard to sell, I've seen them sit vacant for years due to no buyers. If you aren't positive you will stay forever, then rent (usually very cheap). Sometimes you can work out a deal on a 'fixer' so you can live there cheap or free for fixing it up. If you are concerned about real estate equity losses (a very probable issue in the 'new economy' / post recession = high inflation), you will be better off to invest your current home equity proceeds into 'cash positive' income properties in a town with solid real estate values and be an 'absentee' landlord. That way you can sell it when / if you need the equity, and in the meantime it is 'working' for you (hopefully paying its mortgage and YOUR rent. I would consider a condo or rowhouse that didn't require maintenance. Give a small discount for direct deposit rents, and you shouldn't have many worries. (Maybe Ft Collins, CO, as you will be heading that way occasionally, or better yet a destination location in WY (tax free rental income, state tax...) that way you can write off your travel expenses.

If you get to Lusk, try to keep the Lusk Plunge alive. It is a godsend on the hot summer days (especially for motorcyclists enroute from CO to SD). I've camped in the park many times.
Lusk Herald Online

You may not have more than 3-4 inches of snow on the flat areas in Lusk, but it might be 4'-6ft on the leeward side of the house. Be sure you don't end up with a garage and driveway on the leeward side you could be snowed in for awhile.

[sixofone]

Originally Posted by KatCooper

Thanks for the response. I was not aware of the drought issues. My husband and I are both nurse practitioner who have interviews at the local hospital, which was reopened a few years ago. We hope to relocate for a minimum of 2-3 year, but could be permanent. Our 9 year old will be with us as well. We live in a rural area in MS with a pop of 500. Everything is at least an hour from us, so I think from that aspect we will be fairly well prepared. The weather will be a different issue. Preparing for large snowfall (we get maybe 3 inches here) will be a challenge, but one we are looking forward to. Thanks again for your response!

Have you considered relocating to nearby Torrington?? Community Hospital has several NP vacancies as the hospital will be expanding to include a new Alzheimers unit this summer. Unlike Lusk, we happen to have some rental housing available.

If you don't know the area, renting is far preferable at first, as not everyone who comes here ends up staying. Just a thought

[Wyogirl]

Community Hospital in Torrington is in need of Nurse Practitoners, RN's...a little bit of everything. The new alzhiemers unit opens in April i believe. https://www.bannerhealth.com/ click on careers.