[ddrhazy]

Originally Posted by von949

I'm in your exact shoes. I am active duty also. Been here for over 4 years and purchased 2 years ago. I have thought about this a lot. If we got orders tomorrow then my home turns into a great rental. My mortgage is half of what me neighbors pay for rent($700/$1400). 4 bedroom, built in 2007.

My home has supposedly increased by about $25K since we purchased 2 years ago. But that's not even a factor for us. What matters most is that we are stuck with a $700 mortgage whether our home is worth what it was during the boom($390K) or if our values drop to its lowest point ever($115K). We didn't purchase at the lowest point. We got in at $125K while prices were still falling.

When we purchased, family members told us we jumped in too early but now they are on the sidelines still waiting on the bottom to hit or trying to jump in and find a deal.

To answer your question. NLV. Diamond in the rough.


Motorola DynaTAC 8000x

I agree, NLV is still undervalued. Probably the last place left for flippers and pump and dumpers to go.

[ddrhazy]

Originally Posted by NoMoreRJ

Show me what the market up there looks like I know southwest/mountainsedge/south summerlin but not north las vegas.

You will have jets flying over you from Nellis Air Force base. Some parts of NLV are ghetto, other parts are newer and nice.

Each square mile is different, people need to drive through the neighborhood at different times of the day to get a sense of if they would like living there for the next 5 years.

[von949]

Originally Posted by NoMoreRJ

Unlike YOU I don't have a fancy phone to use the web/type while taking a drive. I'll go viewing homes from the comfort of my home using my just as fancy Apple IIe with color monitor and dot matrix printer.

...but you do live in Las Vegas Nevada right?


Motorola DynaTAC 8000x

[ddrhazy]

Originally Posted by NoMoreRJ

Show me what the market up there looks like I know southwest/mountainsedge/south summerlin but not north las vegas.

Summerlin is a desirable area, you're looking at spending a minimum of 150/sqft right now for a Summerlin home. While the same house built in North Las Vegas might be 25-60% less depending on where exactly it is. Some parts of NLV are really nice such as 215 & Aliante, while other parts such as MLK & Lake Mead have more crime.

[esas]

^Summerlin is not $150/sf...more around 120 without pool, 125-130 with pool. I wish it would go to $150!

[von949]

Originally Posted by esas

^Summerlin is not $150/sf...more around 120 without pool, 125-130 with pool. I wish it would go to $150!

Looking to sell?


Motorola DynaTAC 8000x

[icarian]

Originally Posted by ddrhazy

@icarian

TLDR; If location, lot size and lack of HOA are important, buy an older house. If you want to avoid the headache of home repairs buy a new house while the prices are still reasonable(those developers are not making much by offering a house at $100/sqft right now, it won't last forever).

Thank you for the info. I don't want to thread drift the manipulation thread (more than I knowingly already have), so I'll start a new thread momentarily if I can't find what I want via search. As far as older, not really an issue with small repairs as you live in the house. Walking in a foreclosure (and while being slightly disgusted) and having to think "we can spend 30k with a contractor and make this liveable before move in" is what I want to avoid. Obvious damage, popcorn ceilings, window/kitchen/Brady Bunch colors, gold fittings, and shag carpet are definite "no thank yous". Older or newer houses that have kept up to date are okay by me. That said, if the right new house/neighborhood can be found where 15-30k of your own custom touches can be done as it is finished, that is definitely okay too. Noted on the square footage prices. I'm going to search for builder reputations and if I don't find relevant info on here, I'll request it in a new thread. BTW, TY!

Von,

Good copy on N. Vegas. Good to know that it does have options. Between the guy I'm replacing and several other thread perusals on here, I had pretty much written it off. We need to get over to Vegas metro and drive around, but it will be the first of May before work shall allow it. TY, too.

[ddrhazy]

Originally Posted by esas

^Summerlin is not $150/sf...more around 120 without pool, 125-130 with pool. I wish it would go to $150!

Well like any city, there are more expensive parts of Summerlin and less expensive. You can find houses listed at 200/sqft and some at 110/sqft. The market is so fluid that next month those numbers will be worthless. Using trulia and zillow is futile, all those listings are sold before they even hit those sites.

[lvoc]

Originally Posted by esas

^Summerlin is not $150/sf...more around 120 without pool, 125-130 with pool. I wish it would go to $150!

Right now there are 116 for sale which claim the community as Summerlin. The median is $138 per SF the average is $184 per SF. I would think there are a number of multi million places influencing the average.

Solds for the last 90 days are 246 with a median of $114 per SF and a mean of 118.

With pools gives 79 at median of 132 and mean of 139

[ddrhazy]

I think Sun City is throwing off the averages of Summerlin. Those places are good deals for people looking to retire but tough luck to all the people below the age of 55.