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Old 01-24-2021, 01:08 PM
 
228 posts, read 147,782 times
Reputation: 276

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See Richmond American Homes, Galaway Grove
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Old 05-02-2021, 10:57 AM
 
Location: Irvine, CA
332 posts, read 191,599 times
Reputation: 955
Well so much for buying a new build, when I started this thread in January there were a few under $400k in the areas I was looking and now it doesn't seem there's much of anything except townhomes.

I am now looking at existing homes, but being a buyer of anything in this crazy market is brutal.... there's so much demand and not enough supply. I was even reading an article the other day that said LV is currently in the top 10 US housing markets with the most % of homes being bid up higher than list. When will it end?
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Old 05-02-2021, 11:18 AM
 
Location: Dallas, TX and Las Vegas, NV
7,038 posts, read 5,951,413 times
Reputation: 15851
Where are you looking? There are still some decent places under/about $400K in Inspirada.... a very nice community in Anthem area.
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Old 05-02-2021, 11:50 AM
 
Location: Irvine, CA
332 posts, read 191,599 times
Reputation: 955
Quote:
Originally Posted by WorldKlas View Post
Where are you looking? There are still some decent places under/about $400K in Inspirada.... a very nice community in Anthem area.
I was looking in the SW area primarily because of the convenient location to where I would need to be for work. I had browsed some listings for Inspirada and thought I only saw townhomes, but I will check again maybe I missed some things.
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Old 05-02-2021, 12:07 PM
 
Location: Dallas, TX and Las Vegas, NV
7,038 posts, read 5,951,413 times
Reputation: 15851
Quote:
Originally Posted by luckydogg View Post
I was looking in the SW area primarily because of the convenient location to where I would need to be for work. I had browsed some listings for Inspirada and thought I only saw townhomes, but I will check again maybe I missed some things.
I also see houses in your price range in Southern Highlands, which is a beautiful area on the west side of 15 in the southern part of the valley.

https://www.homes.com/las-vegas-nv/s...n=1|nv&sort=1|[score|asc]
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Old 05-02-2021, 12:28 PM
 
Location: Irvine, CA
332 posts, read 191,599 times
Reputation: 955
Quote:
Originally Posted by WorldKlas View Post
I also see houses in your price range in Southern Highlands, which is a beautiful area on the west side of 15 in the southern part of the valley.

https://www.homes.com/las-vegas-nv/s...n=1|nv&sort=1|[score|asc]
Yes I also really like Southern Highlands, and am looking there was well. I am pretty much only looking at existing homes at this point, and that's one of my target areas. The one benefit of a resale is at least I know up front what I am getting....
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Old 05-06-2021, 12:41 PM
 
Location: Orange County/Las Vegas
1,895 posts, read 2,162,183 times
Reputation: 1785
The new houses being built in Las Vegas are a ripoff being built by greedy Ca. land developers.

You are better off buying a resale. You will get more landing and spacing between the houses the older it is. Some of the new homes have driveways that you can't even fit your car on it. Seriously?

Of course the most obvious is that it will already be landscaped which is very expensive if you have to do it yourself.
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Old 05-06-2021, 09:14 PM
 
Location: Henderson, NV
7,006 posts, read 7,233,476 times
Reputation: 9642
There are advantages and disadvantages to anything, but I wouldn’t have wanted an existing home personally. I’ve done that before and it’s fine but I wanted to be able to build out my own backyard the way I wanted it done and to my quality expectations. Same with the interior, existing would have been fine if it were built modern but most houses in Vegas are dated, very few modern homes available sadly. And I wouldn’t call new houses overpriced at all, you get what you pay for - everything is new and doesn’t need replacing. So you can replace / upgrade what you want but it’s not required. I agree that one benefit of most older homes is you get a larger lot, but I’d want to tear down most of the houses on those lots. They’re poorly built. They made waaay too many houses here with 2x4 construction in the past and poor insulation. You know when people are saying their summer electric bill for a house only 2,000 square feet is $500, something is really, really wrong with that house.
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Old 05-07-2021, 07:38 AM
 
220 posts, read 97,672 times
Reputation: 475
One reason why your seeing a flood of new Wall Street money and investors buying sfh in Las Vegas is the likely change to the 1031 exchange.

Putting a 500k cap incentivizes buying more smaller properties than one or two larger deals in commercial property.

You think demand is strong now, it’s only going to get much worse once the details are finalized and confirmed.

https://www.google.com/amp/s/thereal...e-experts/amp/
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Old 05-09-2021, 01:17 AM
 
Location: Henderson, NV
7,006 posts, read 7,233,476 times
Reputation: 9642
That would be an absolute nightmare and I’m sure when the clowns are out of the government, the adults will restore order. It would destroy the real estate industry entirely. That’s literally how our family made a fortune, by buying and trading assets over the years. If you can’t do that, nothing will ever change hands except under desperate circumstances. There would be no benefit at all to selling, you lose too much because any older building even 10 years has too low of a basis after it’s been depreciated so you’d lose most of the profits to taxes. A total disaster. When you trade, you can start the clock all over again on a new property. I wouldn’t have my best investments without 1031 exchanges. Let’s hope any proposal with that nonsense is filibustered or voted down better yet.
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