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Old 04-30-2011, 02:33 PM
 
125 posts, read 331,542 times
Reputation: 68

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And no HOA btw, we can't abide that.
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Old 04-30-2011, 03:46 PM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 38,184,186 times
Reputation: 2661
Default New Home Purchase

Here is a thing I came across on a RE channel thait is kind of interesting so I did a blog on it...

//www.city-data.com/blogs/blog2...-home-las.html
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Old 04-30-2011, 06:45 PM
 
Location: Beautiful Upstate NY!
13,814 posts, read 28,484,904 times
Reputation: 7615
Airics...I borrowed this from another thread, originally posted by jukesgrrl...says LV is the #1 major marker to BUY...not RENT. You might the only realtor in all of LV that says rent, don't buy.

On the other end of the spectrum, the majority of cities where buying makes sense are located in the Western United States. Las Vegas comes out atop the buy-here rankings, followed, in order, by Phoenix, Arlington, Miami and Mesa (Ariz).

Where It's Better To Rent A Home Than Buy: Trulia
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Old 04-30-2011, 08:24 PM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 38,184,186 times
Reputation: 2661
Quote:
Originally Posted by PopsNegro View Post
SO let me ask you who have experience in the LV r/e game: What can a good, recent home of say, 1250 sq ft on a roomy lot be had for today? I need to price the market before visiting and I read so much about "cheap LV homes" but I am betting these are all distressed repos or otherwise unsound and not move-in-ready.
How tight is your sphincter? You can get a nice 50 year old concrete block house in the state streets for maybe $35K. 7000SF lot.

YOu can get an old beat up house on a half acre for around 100K.

You can get a reasonable house in a 15 year old area with a 6000SF lot for around 125K. Maybe even a little less if you can do a little fixit.
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Old 04-30-2011, 08:41 PM
 
89 posts, read 232,757 times
Reputation: 83
One of my houses recently had a vacancy and I was slightly worried about filling the vacancy because I had been reading this thread. However, I had over 20 calls on the house on the first day and had an all-day open house the next day. On day 3, great tenants signed a lease. Later that same day, other prospective tenants offered to pay more than I had been asking for rent. From this landlord's perspective, the rental market seems stronger than ever.

This house was bought in '09, the mortgage is $900/mo. The rent is $1200. Just not sure why it's not a great time to buy, then rent. Maybe I'm missing something.
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Old 04-30-2011, 10:03 PM
 
Location: Paranoid State
13,044 posts, read 13,857,850 times
Reputation: 15839
Quote:
Originally Posted by RinVegas View Post
One of my houses recently had a vacancy and I was slightly worried about filling the vacancy because I had been reading this thread. However, I had over 20 calls on the house on the first day and had an all-day open house the next day. On day 3, great tenants signed a lease. Later that same day, other prospective tenants offered to pay more than I had been asking for rent. From this landlord's perspective, the rental market seems stronger than ever.

This house was bought in '09, the mortgage is $900/mo. The rent is $1200. Just not sure why it's not a great time to buy, then rent. Maybe I'm missing something.

Wow. Congratulations; you're clearly doing something right.

What part of town/zip code is this in?
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Old 04-30-2011, 11:26 PM
 
125 posts, read 331,542 times
Reputation: 68
Quote:
Originally Posted by olecapt View Post
How tight is your sphincter? You can get a nice 50 year old concrete block house in the state streets for maybe $35K. 7000SF lot.

YOu can get an old beat up house on a half acre for around 100K.

You can get a reasonable house in a 15 year old area with a 6000SF lot for around 125K. Maybe even a little less if you can do a little fixit.
That's your bargain then who needs bargains?
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Old 05-01-2011, 12:25 PM
 
2,724 posts, read 4,762,043 times
Reputation: 1042
Quote:
Originally Posted by RinVegas View Post
One of my houses recently had a vacancy and I was slightly worried about filling the vacancy because I had been reading this thread. However, I had over 20 calls on the house on the first day and had an all-day open house the next day. On day 3, great tenants signed a lease. Later that same day, other prospective tenants offered to pay more than I had been asking for rent. From this landlord's perspective, the rental market seems stronger than ever.

This house was bought in '09, the mortgage is $900/mo. The rent is $1200. Just not sure why it's not a great time to buy, then rent. Maybe I'm missing something.
A bank (mired in the housing bubble/foreclosure crisis), loaned you @$150,000 to purchase an "investment" property in Lost Vegas? At the very peak (2009) of the debacle??

I'm throwin' the "shaggy-dog" story flag...
<woof-woof>
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Old 05-01-2011, 12:31 PM
 
412 posts, read 915,557 times
Reputation: 166
Quote:
Originally Posted by eventusstultorummagister View Post
A bank (mired in the housing bubble/foreclosure crisis), loaned you @$150,000 to purchase an "investment" property in Lost Vegas? At the very peak (2009) of the debacle??

I'm throwin' the "shaggy-dog" story flag...
<woof-woof>
Prices had already dropped in 2009. Peak is more like 2006.
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Old 05-01-2011, 02:37 PM
 
10,494 posts, read 27,227,900 times
Reputation: 6717
This is interesting:

Median price of a Las Vegas house today....$153,000

Projected median price in 2012....$112,000

Case Shiller: Here Are The 15 Housing Markets That Will Fall The Most By 2012

Here is a satellite view of all the foreclosures. This is very sad:

A Frightening Satellite Tour Of America's Foreclosure Wastelands

I guess Airics is right when he says to rent and not buy.
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