[tijlover]

When I left Las Vegas 2 and a half years ago, Huntridge properties had gotten very popular and expensive and the next upcomer, when I left, was the area bounded by Maryland/Eastern/DI and Flamingo, near the golf course. Have those areas continued to get pricier after I left?

[luckydogg]

Originally Posted by apple92680

The largest chunk of that "20%" is not who you think it is, which is to say upper middle-class tech workers and millionaires clamoring for an income tax shelter.

Las Vegas attracts a very different type of Californian than Reno/Tahoe does.

So here's what I don't get about this. I am one of those tech workers, and I prefer Vegas over Reno-Tahoe (which I considered) for numerous reasons but mostly I like warmer weather and it's closer to friends/family in SoCal. And I know two other tech workers that moved to Vegas over the last couple years (one from SF and one from SD). But lets say we're in the minority - then who is buying all these $300k+ new homes (which isn't exactly dirt cheap) that they can't seem to build fast enough to meet the demand? From talking to realtors many are from California and it's not the flippers and Chinese investors this time. Some are probably people from California cashing out expensive homes, but even if that's true they owned homes there so they must have all least had a moderately good job. I am sure some are also retirees, but retirees also have the choice of going to Reno-Tahoe as well. So who is buying all these new homes that are flying off the shelves?

[WorldKlas]

Originally Posted by luckydogg

So here's what I don't get about this. I am one of those tech workers, and I prefer Vegas over Reno-Tahoe (which I considered) for numerous reasons but mostly I like warmer weather and it's closer to friends/family in SoCal. And I know two other tech workers that moved to Vegas over the last couple years (one from SF and one from SD). But lets say we're in the minority - then who is buying all these $300k+ new homes (which isn't exactly dirt cheap) that they can't seem to build fast enough to meet the demand? From talking to realtors many are from California and it's not the flippers and Chinese investors this time. Some are probably people from California cashing out expensive homes, but even if that's true they owned homes there so they must have all least had a moderately good job. I am sure some are also retirees, but retirees also have the choice of going to Reno-Tahoe as well. So who is buying all these new homes that are flying off the shelves?

That’s like asking who lives in America.....

But, I live in Anthem. In our section (Sun City Anthem) over 60% of our residents come from CA. We have very few houses under $400K, but there are some.... I know Las Vegas is a prime destination for retirees due to warmer weather and proximity to CA, AZ, UT, etc. and of course all the local amenities.

[boatpi]

Richmond American is one, I saw a map 2 weeks ago, 43 homesites, 2 built, just 4 lots left. Nothing under 850K++

[JonathanLB]

Originally Posted by luckydogg

That's a good idea, personally I think backyard landscaping and upgrading the patio adds a lot of value. I like relaxing outside and bbq'ing so if there's nothing in the back but a small concrete slab and dirt it's a negative. On the other hand a great backyard will sometimes offset any negatives with the house itself. That's one of my complaints with the new builds at least the price range I am looking in there's nothing but dirt in the back.... even some basic gravel and one or two desert plants would be minimal expense and make it look a lot more inviting than raw dirt!

No new builds ever have more than dirt. That’s industry standard. There’s NO reason you should ever want more than that, either. Why would you as a buyer want to pay them a markup?!? Why would they believe they could actually make a markup? If my pool and hot tub and fire pit cost $78,000, what would the same cost if the builder put it in? $95,000? $105,000? $120,000? Think about what you’re saying. Also, why would you want the builder to decide for you what goes in your back yard? That literally makes no sense. Some people don’t care about pools, others don’t care about hot tubs, some don’t want a BBQ, etc. It’s a blank slate for you to do with as you please.

When builders have options, it’s always a ripoff. I saw Pardee wanted $70,000 for a home theater. I got the stats sheet out, called 3 local home theater companies and read them the list to get quotes. They quoted me between $25,000 and $35,000! So it was at least a 100% markup. That’s absolutely crazy lol.

[WorldKlas]

Originally Posted by JonathanLB

No new builds ever have more than dirt. That’s industry standard. There’s NO reason you should ever want more than that, either. Why would you as a buyer want to pay them a markup?!? Why would they believe they could actually make a markup? If my pool and hot tub and fire pit cost $78,000, what would the same cost if the builder put it in? $95,000? $105,000? $120,000? Think about what you’re saying. Also, why would you want the builder to decide for you what goes in your back yard? That literally makes no sense. Some people don’t care about pools, others don’t care about hot tubs, some don’t want a BBQ, etc. It’s a blank slate for you to do with as you please.

When builders have options, it’s always a ripoff. I saw Pardee wanted $70,000 for a home theater. I got the stats sheet out, called 3 local home theater companies and read them the list to get quotes. They quoted me between $25,000 and $35,000! So it was at least a 100% markup. That’s absolutely crazy lol.

My only departure from your comments is the buyer who wants to roll the home theatre into his new (currently) 2.5% mortgage rather than sourcing funds at higher interest rates if the ready cash isn’t an option.....

[longviewJoe]

Originally Posted by WorldKlas

My only departure from your comments is the buyer who wants to roll the home theatre into his new (currently) 2.5% mortgage rather than sourcing funds at higher interest rates if the ready cash isn’t an option.....

Plus the buyer that wants done for you. Some of us are lazy. We ended up buying a re-sale home but in looking at new homes I would have had them do a lot of the stuff just so I didn't have to think about it. Just make it move-in ready! To each their own. It's just money!

[OmegaSupreme]

Originally Posted by luckydogg

So here's what I don't get about this. I am one of those tech workers, and I prefer Vegas over Reno-Tahoe (which I considered) for numerous reasons but mostly I like warmer weather and it's closer to friends/family in SoCal. And I know two other tech workers that moved to Vegas over the last couple years (one from SF and one from SD). But lets say we're in the minority - then who is buying all these $300k+ new homes (which isn't exactly dirt cheap) that they can't seem to build fast enough to meet the demand? From talking to realtors many are from California and it's not the flippers and Chinese investors this time. Some are probably people from California cashing out expensive homes, but even if that's true they owned homes there so they must have all least had a moderately good job. I am sure some are also retirees, but retirees also have the choice of going to Reno-Tahoe as well. So who is buying all these new homes that are flying off the shelves?

It's a supply side issue. There simply aren't enough homes listed on the market.

That and prices are also going up because so much money has been printed.

[boatpi]

As noted above I purchased a Pardee home at about 800G two years ago. It was one of 5 remaining homes in a 96 home development. Most every option was set in stone aside from some master bathroom upgrades and colors. I tried to buy it without tile flooring, no go. The tile flooring option was clearly a 100% mark up. I did the math, it was a push so I had them do the upgrade. It is a great house, Pardee Meridian all 1/2 acres high end houses. What continues to astound me is how builders continue to build garages with 8' wide doors, same as in 1940. The "storage" garage is 1' too short for a small car, and I have the 4th garage option. Aside from that, the house rocks. Upgrade your one house, if you have the cash and save huge $$.

[Mariza160]

Originally Posted by apple92680

I cannot remember the exact source right now, but I once read that the San Francisco Bay Area has more colleges and universities per capita than any other part of the U.S.

It's a highly educated population and they value education immensely.

Nope. It's Los Angeles

What city has the most colleges per capita?
Los Angeles, California – 230

What city has the most universities? Hands down, it's LA. You can find approximately 230 colleges and universities in the greater Los Angeles area. Colleges like the University of Southern California and Los Angeles Southwest College all call downtown LA home. Mar 21, 2019