[Hal Roach]

Most of the Zillow complaints were from folks, who were in denial about what a foreclosure or three within 500 feet does to their property value. Other problems exist because assessor dates is wrong. It does allow the owner to provide input. A former GF has a 1924 house that is 960 sf, 2/1/1 cg on 4100 sf of land. I looked at Zillow as I have tracked her home value for years. Zillow now says 981,711....or rent for 3500. It would be worth more without the house. Maybe it will hit a million for the first time, ever. It previously peaked at 905k in 2006. Her uncle was a school custodian, and immigrant. 94703.

[jadedlady]

The problem with Sun City Summerlin homes is that a large number of them are only 2 bedroom houses with maybe 1100 to 1200 square feet and the HOA dues are horrendous. I've seen some as high as $500 a month for the HOA. Even the small homes most of them have over $200 a month dues.

[lvmensch]

Originally Posted by jadedlady

The problem with Sun City Summerlin homes is that a large number of them are only 2 bedroom houses with maybe 1100 to 1200 square feet and the HOA dues are horrendous. I've seen some as high as $500 a month for the HOA. Even the small homes most of them have over $200 a month dues.

No. Wrong data - Max and uniform HOA fees are $108 for all single family residents. The attached homes have two with the second fee going up to $200 per month on top of the standard $108. That is actually not a terrible deal and full landscaping and all major maintenance for the building is included. If you work through the likely expense the second HOA costs under $50 a month.

The homes in Sun City Summerlin are all two bedrooms until they get above 2,000 SF. There are lots of three bedrooms though two is the standard.

[Tek_Freek]

Thanks. I was going to correct that post. Where do people get these numbers?

It has been announced that our dues will be going up, but it is such a small amount that no one cares. When you've got almost 8,000 houses it doesn't take much to raise a decent amount of money.

[jadedlady]

To those who think I am wrong on the amount of HOA dues in Sun City Summerlin, here are a few current listings that show higher amounts.

https://www.redfin.com/NV/Las-Vegas/.../home/29148161 HOA $307

https://www.redfin.com/NV/Las-Vegas/.../home/29106445 HOA $279

https://www.redfin.com/NV/Las-Vegas/.../home/29106427 HOA $217

https://www.redfin.com/NV/Las-Vegas/.../home/29151973 HOA $176

[Michael2016]

As the house values have gone up a lot already, is the party soon over or will homebuyers in 2017 or 2018 still enjoy increasing values without a steep correction? What is the outlook?

[LuisSuarez]

Originally Posted by Michael2016

As the house values have gone up a lot already, is the party soon over or will homebuyers in 2017 or 2018 still enjoy increasing values without a steep correction? What is the outlook?

With the Raiders stadium and resorts world jobs, Prices will continue to rise.

[jadedlady]

From what I have read and see for my own self, there is only a 2-3 month supply of homes for sale. That is considered to be a shortage. So on that basis, prices should remain steady or continue to increase. However, the market is flooded with lower end condos (under $100K) and they are going into contingent status (an agreement for sale has been entered into and the sale is contingent upon findings in the due diligence period) right away. Many of these properties are even raising their initial sale price after going on the MLS. Cash buyers (investors) are reigning supreme to sellers, who are accepting listing price or greater cash and as-is offers with no contingencies. So home buyers in this lower end of the property spectrum are at a disadvantage, since most of them need financing to buy and the cash buyers are winning the sale. But with all these properties being bought by investors, there will be an even greater glut of rentals available. Also, my calculations indicate that these low end condos are overpriced. Investors like to flip them too, so they may come back on the market in a few months perhaps with some remodeling at a higher price to get a higher yield on their money. That's called fix and flip.

I haven't paid as much attention to the rest of the market lately, but it seems that the higher end homes are moving much more slowly with fewer buyers. and the middle market properties seem to be selling somewhat steadily. So each segment of the market is seeing different outcomes.

Perhaps someone will add their opinions to mine which is ok. As I stated, these are my observations and opinions. I'm not saying I know the entire market conditions or can foresee the future.

So to answer your question, is the party over? No one really knows. The best you can do is take a calculated guess. I mean, anything could happen. We're also facing the fact that it is known that the terrorists have Las Vegas on their radar and should anything happen, I'm fairly certain the housing market would be terribly hindered.

[Katie the heartbreaker]

Originally Posted by LuisSuarez

With the Raiders stadium and resorts world jobs, Prices will continue to rise.

They will continue to rise until the bubble pops. All bubbles eventually pop, and this one will be no different.

[tijlover]

I've stopped looking at this balloon that doesn't seem it can take one more puff of air before it explodes!

And not just here! In both Australia and Canada, it will be pop, pop, pop!

Those sitting it out in rental apartments will be the big winners, buying houses at half-price after the pop!