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Old 06-24-2013, 06:32 PM
 
12,973 posts, read 15,792,180 times
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Quote:
Originally Posted by Scott456 View Post
There is no under valued properties. Every property is has a fair market value. Older or undesirable properties are simply less valuable, and not "under valued".
It is reasonably clear that the valuation of homes depends on the sales method. That is foreclosures are worth less than non-distressed and short sales are worth less than foreclosures.

So there is property value for things other than its inherent value.

I would also doubt that the intrinsic value of a home can change 30 or 40% in a year.
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Old 06-24-2013, 07:05 PM
 
12,973 posts, read 15,792,180 times
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Quote:
Originally Posted by searchguru2 View Post
My wife and I are thinking of moving to Las Vegas and was wondering if we could get some insight about houses in the area. We don't have kids in school or anything like that.

Are primary goal is to buy a house that is in a nice, safe, quiet family friendly neighborhood. In looking at real estate prices, it seems like there are lots of houses that look decent for $110,000 and some are even much less.

Is this to good to be true?

In terms of the size of house, it doesn't have to be large, 3 bedrooms is fine and I'd prefer 1400 square feet or more. Other than that, I just want a safe, quiet neighborhood that my wife can feel (and be) safe in. Is this possible in the $100,000 price range or are we way off?

Any input would be greatly appreciated. Thank you!!!
It is difficult to impossible to buy a single family home or a townhouse below $110K. There are a few but multiple offer short sales or bankruptcy units. A condominium is possible...But there are still difficulties. Cash will work but financing can be very difficult.

But overall you cannot buy a reasonable house below $100,000.
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Old 06-24-2013, 07:22 PM
 
2,928 posts, read 3,548,972 times
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Quote:
Originally Posted by lvoc View Post
It is difficult to impossible to buy a single family home or a townhouse below $110K. There are a few but multiple offer short sales or bankruptcy units. A condominium is possible...But there are still difficulties. Cash will work but financing can be very difficult.

But overall you cannot buy a reasonable house below $100,000.
In all of Vegas, I see 62 available listings that are SFR that are under 110k, 3 bdrm+ and 1400 sqft+.

Last edited by ddrhazy; 06-24-2013 at 07:33 PM..
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Old 06-24-2013, 07:38 PM
 
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Quote:
Originally Posted by ddrhazy View Post
In all of Vegas, I see 62 available listings that are SFR that are under 110k, 3 bdrm+ and 1400 sqft+.
I cut it off to the NW and SW. You have to get to the central city to find those places. It is certainly debatable though...there are some pretty nice spots buried down there. But if you want your wife to be able to walk the dog in the evening...I don't think so.
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Old 06-24-2013, 07:40 PM
 
Location: Sunrise
10,864 posts, read 16,985,364 times
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Quote:
Originally Posted by lvoc View Post
It is difficult to impossible to buy a single family home or a townhouse below $110K. There are a few but multiple offer short sales or bankruptcy units. A condominium is possible...But there are still difficulties. Cash will work but financing can be very difficult.
Maybe in your neighborhood. Not in mine. There are still good houses in good neighborhoods in Sunrise that hover around $100K. But only cash buyers who are quick on the trigger need apply. Nobody else is going to get these houses.
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Old 06-24-2013, 07:55 PM
 
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Originally Posted by ScoopLV View Post
Maybe in your neighborhood. Not in mine. There are still good houses in good neighborhoods in Sunrise that hover around $100K. But only cash buyers who are quick on the trigger need apply. Nobody else is going to get these houses.
There are absolutely no $110,000 or less homes in Sunrise that meet spec.

Not arguing that you can't buy a nice house in Sunrise for under $110,000. But they won't meet the spec.
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Old 06-24-2013, 09:00 PM
 
Location: Sunrise
10,864 posts, read 16,985,364 times
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3 bedroom, 1400+ sqft for $110K? I see them all the time. I have a couple offers on places like that. There are roughly 50 in Sunrise. 20 of them are in neighborhoods I consider "good."

That meets the spec.

(Mod edit-- orphaned)

Last edited by observer53; 06-25-2013 at 08:09 PM..
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Old 06-24-2013, 09:06 PM
 
16,393 posts, read 30,258,017 times
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Seems that someone is taking Chicken Little a little too seriously.

I will be in line when the prices head down to $25k. (g)
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Old 06-24-2013, 09:28 PM
 
Location: ( ͡° ͜ʖ ͡°) (╯°□°)╯︵ ┻━┻ ̡
7,112 posts, read 13,151,736 times
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$25k for a decent non fixer house? Give me four please. Maybe five. At that price, I doubt we have any renters left in the valley.


(╯°□°)╯ ︵ ┻━┻
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Old 06-24-2013, 10:32 PM
 
12,973 posts, read 15,792,180 times
Reputation: 5478
Quote:
Originally Posted by ScoopLV View Post
3 bedroom, 1400+ sqft for $110K? I see them all the time. I have a couple offers on places like that. There are roughly 50 in Sunrise. 20 of them are in neighborhoods I consider "good."

That meets the spec.

.
No it does not. They meet your spec. That is not the spec in question.
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