[Eeps]

Hi all - Hoping for a good steer - I moved here about 9 months ago and Im currently renting with my wife + 2 dogs + 2 cats. Our landlord is selling so we are looking at purchasing a place around Summerlin.

Is there any major things I need to take care to avoid? Ultimately, I dont think we are going to be here forever, so I'm realistically thinking about things that are going to massively tank in price in the short term because of something I didnt know about (Golf course closing and crashing the house prices etc).

Any top tips? Canyon Gate/Desert Shores/The Lakes all look pretty decent to us so far.

Thanks for any intel you can provide!

[Jeers McGee]

You can't time the market. Now is not the right time to buy......... Lol. Exception is if are buying your 4ever home.

[lvmensch]

Originally Posted by Eeps

Hi all - Hoping for a good steer - I moved here about 9 months ago and Im currently renting with my wife + 2 dogs + 2 cats. Our landlord is selling so we are looking at purchasing a place around Summerlin.

Is there any major things I need to take care to avoid? Ultimately, I dont think we are going to be here forever, so I'm realistically thinking about things that are going to massively tank in price in the short term because of something I didnt know about (Golf course closing and crashing the house prices etc).

Any top tips? Canyon Gate/Desert Shores/The Lakes all look pretty decent to us so far.

Thanks for any intel you can provide!

Originally Posted by Jeers McGee

You can't time the market. Now is not the right time to buy......... Lol. Exception is if are buying your 4ever home.

Actlually it is not the perfect time to buy. That was 3 or 45 years ago. But it also beats the heck out of anything we can see coming. The driver is interest rates. Right now you can get 4% or so...that is not likely to last.

As many know I sell RE here.

First off anywhere in Summerlin is likely OK as long as you like the house. There really is not a bad school district. Stay out of the Pueblo if you have a kid old enough that he may go to high school before you move again.

Looking for a little more house than you can get in Summerlin for your budget? Than both sides of Summerlin. Pecole Ranch or the Lakes. On the other side any of Summerlin the places in Desert Shores or Garehine elementary or Tarr Elementary. And feeding Lied middle rather than Molasky is an up. If you want to go a little further north try those in the scope of Arbor View High School. Pretty much nothing bad there.

If you want to mention your budget it would allow a narrower analysis.

[08grad]

Check out school zoning before you make a purchase. There's a huge drop off (3-5 points on the ACT) between Palo Verde and it's neighbors.

Originally Posted by lvmensch

And feeding Lied middle rather than Molasky is an up.

Lied closed and became a Magnet school this year.

Those previously zoned for Lied south of Ann got re-zoned for Swainston, while north of Ann got Saville.

[JonathanLB]

Originally Posted by Jeers McGee

You can't time the market. Now is not the right time to buy......... Lol. Exception is if are buying your 4ever home.

How do you figure? Rates are fantastic and real estate prices have stabilized. Now is a great time to buy! It’s never a good time if you’re not staying in a house for a long while but when isn’t that true? If rates go back up to historical levels in 4-5 years, it won’t matter for anyone but cash buyers if houses are down 10%.

[Eeps]

Originally Posted by Jeers McGee

You can't time the market. Now is not the right time to buy......... Lol. Exception is if are buying your 4ever home.

Not on a macro level, no - Im more thinking about micro things on a local level - e.g. a mate of mine had a house on a golf course. When they closed the course the prices tanked. Just trying to avoid a situation like that.

Originally Posted by lvmensch

First off anywhere in Summerlin is likely OK as long as you like the house. There really is not a bad school district. Stay out of the Pueblo if you have a kid old enough that he may go to high school before you move again.

Looking for a little more house than you can get in Summerlin for your budget? Than both sides of Summerlin. Pecole Ranch or the Lakes. On the other side any of Summerlin the places in Desert Shores or Garehine elementary or Tarr Elementary. And feeding Lied middle rather than Molasky is an up. If you want to go a little further north try those in the scope of Arbor View High School. Pretty much nothing bad there.

If you want to mention your budget it would allow a narrower analysis.

Thanks mate - We dont have kids, so its not an issue personally, but as far as I understand it there's a pretty wide spread of school quality around Vegas so I imagine it would affect the resale. Budget wise, we're thinking c. 850k so should have a decent selection based off some quick scans over Zillow etc as we are looking for 3 or maybe 4 bedrooms places.

Originally Posted by 08grad

Check out school zoning before you make a purchase. There's a huge drop off (3-5 points on the ACT) between Palo Verde and it's neighbors.

This makes a lot of sense - Is there a map somewhere that shows what the school catchment areas are?

[palepeople]

Also, be aware that part of Summerlin is in the City of Las Vegas and part of it is in unincorporated Clark County - (different ordinances/codes, property taxes, etc)

[airics]

Originally Posted by JonathanLB

How do you figure? Rates are fantastic and real estate prices have stabilized. Now is a great time to buy! It’s never a good time if you’re not staying in a house for a long while but when isn’t that true? If rates go back up to historical levels in 4-5 years, it won’t matter for anyone but cash buyers if houses are down 10%.

You said it. Prices have stabilized. At the highest they have been in this upswing. If anything it will be 3-4% increases here on out. With that said... it’s NOT the time to buy. Both homes that I have sold have been the highest priced in the subdivisions. Last year, I sold at 385. Highest in the subdivision since has been 340 and it was biggest. One even sold at 260, granted it needed 15k in work.

I wouldn’t be buying anything over 400 right now and I certainly wouldn’t be building as you lose 10% out the gate. And if for some impossible reason, the dems get the whitehouse, expect a crash and civil war. I don’t think the dems have the slightest chance

[lvmensch]

Originally Posted by airics

You said it. Prices have stabilized. At the highest they have been in this upswing. If anything it will be 3-4% increases here on out. With that said... it’s NOT the time to buy. Both homes that I have sold have been the highest priced in the subdivisions. Last year, I sold at 385. Highest in the subdivision since has been 340 and it was biggest. One even sold at 260, granted it needed 15k in work.

I wouldn’t be buying anything over 400 right now and I certainly wouldn’t be building as you lose 10% out the gate. And if for some impossible reason, the dems get the whitehouse, expect a crash and civil war. I don’t think the dems have the slightest chance

Actually you have it upside down. Over the last year the mean sale price has done better than the median price. That indicates the more expensive homes are selling better than the less expensive ones ones. The crystal ball guys are still talking about 5% on the mean.

Anecdotally we have been working Siena with a client. That is the high end of the 55+ communities. The things are selling faster right now than in a long time.

The interest rates are a very good reason for buying now. Get under 4% on a buy. Don't think that is going to last.

[lvmensch]

Originally Posted by Eeps

Not on a macro level, no - Im more thinking about micro things on a local level - e.g. a mate of mine had a house on a golf course. When they closed the course the prices tanked. Just trying to avoid a situation like that.



Thanks mate - We dont have kids, so its not an issue personally, but as far as I understand it there's a pretty wide spread of school quality around Vegas so I imagine it would affect the resale. Budget wise, we're thinking c. 850k so should have a decent selection based off some quick scans over Zillow etc as we are looking for 3 or maybe 4 bedrooms places.



This makes a lot of sense - Is there a map somewhere that shows what the school catchment areas are?

At $850K you can look at good Summerlin or the NW half acres. With four pets an expansive yard is nice to have. That will also get you lakeside in Desert Shores with a reasonable home.

The school zoning is at...

https://www.ccsd.net/schools/zoning/

I would not sweat the school thing a lot. At that level of housing the problem is easily dealt with.

The only guaranteed way to avoid the golf course fiascos is to stay off the course. In Silverstone Ranch they did everything correctly and still got the problem. A municipal course is likely safer but still no guarantee. Sun City Summerlin owns their courses and is able to pay the losses that occur without too big a problem. Note though the non golfers do not like supporting the courses so that could potentially blow up at some point.