Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 04-10-2009, 10:53 PM   #41
Thinks s/he gets paid by the post
BunsGettingFirm's Avatar
 
Join Date: Jan 2004
Posts: 1,502
Quote:
Originally Posted by JPatrick View Post
I must say, a life style like that would be hard to turn down

Jug/s, I'm shocked you are not doing promotionals for the Chamber of Commerce
I find that a lifestyle like that is much more possible out West than out East. There just isn't much a of a cycling or non-car commute culture here.
__________________

__________________
BunsGettingFirm is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 05-20-2009, 11:45 PM   #42
Recycles dryer sheets
 
Join Date: Jun 2007
Posts: 316
A close friend just bought a 2 bed, 1.5 bath condo in Henderson last week. He paid $78K with original asking price of $84900. It's in excellent move in cond. He said that he was amazed at how much "junk" he saw even with the relatively new construction.
__________________

__________________
Grizz is offline   Reply With Quote
Old 05-21-2009, 11:17 AM   #43
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
NW-Bound's Avatar
 
Join Date: Jul 2008
Posts: 19,391
We are currently in LV. Two days ago, we took a drive to Lake Las Vegas to take a look, just out of curiosity. It looked like very nice development. Picking up a pamplet at a local RE office, I saw some 1200 sqft condos listed for $120K. The ad said such condos went for $500K originally. While I don't understand the mania that drove the price to the half-million mark, the current price is very attractive.

It would make a good 2nd home for people from colder climate, or a nice retirement home for people who do not mind the summer heat. Not wanting to go with a realtor, we could not see the interior of these condos, only the exterior and then from a distance as they are all in gated-off communities. In all, it's a very nice area, though I wonder what the HOA fee would be.

Elsewhere, judging from a free brochure picked up at a grocery store, I saw that foreclosed houses could be had really cheap, such as the low $100K for a house of 2500-3000 sqft. However, these appeared to be further away from the city (I am not familiar with this area). Closer to LV, foreclosed houses still had asking prices of around $1 per sq.ft.

Seeing house prices like this makes me reluctant to plow more into the stock market beyond my current 55% equity - was 50% two weeks ago but the market god had been giving, and today he is taking.
__________________
"Old age is the most unexpected of all things that can happen to a man" -- Leon Trotsky
NW-Bound is offline   Reply With Quote
Old 05-21-2009, 11:19 AM   #44
Moderator
ziggy29's Avatar
 
Join Date: Oct 2005
Location: Texas
Posts: 15,612
Quote:
Originally Posted by NW-Bound View Post
Closer to LV, foreclosed houses still had asking prices of around $1 per sq.ft.
I assume this is in error? One dollar per square foot? Even Detroit isn't usually that cheap.

Do you mean $100 per square foot, maybe?
__________________
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)

RIP to Reemy, my avatar dog (2003 - 9/16/2017)
ziggy29 is offline   Reply With Quote
Old 05-21-2009, 11:21 AM   #45
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
NW-Bound's Avatar
 
Join Date: Jul 2008
Posts: 19,391
Quote:
Originally Posted by ziggy29 View Post
I assume this is in error? One dollar per square foot? Even Detroit isn't usually that cheap.

Do you mean $100 per square foot, maybe?
Yes, my error. Thanks.
__________________
"Old age is the most unexpected of all things that can happen to a man" -- Leon Trotsky
NW-Bound is offline   Reply With Quote
Old 05-21-2009, 11:37 AM   #46
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
TromboneAl's Avatar
 
Join Date: Jun 2006
Posts: 11,196
We spent one night in Las Vegas on our current trip. So, being an expert, here are my thoughts:

This place is out of control with regard to growth, building, and traffic. At one point I wanted to go one mile to pick something up, but was told it would take 45 minutes by car due to traffic.

Also, I wouldn't want to live somewhere where the climate is less hospitable than that of many planets.

But that's just me.
__________________
Al
TromboneAl is offline   Reply With Quote
Old 05-21-2009, 12:53 PM   #47
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Nov 2007
Posts: 7,526
Quote:
Originally Posted by TromboneAl View Post
Also, I wouldn't want to live somewhere where the climate is less hospitable than that of many planets.
But is is a dry heat. I was amazed at how much more comfortable 95 degrees in the shade out there feels versus 80 degrees and high humidity in the southeast US.
__________________
FUEGO is offline   Reply With Quote
Old 05-21-2009, 03:49 PM   #48
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
clifp's Avatar
 
Join Date: Oct 2006
Posts: 7,450
Quote:
Originally Posted by FUEGO View Post
But is is a dry heat. I was amazed at how much more comfortable 95 degrees in the shade out there feels versus 80 degrees and high humidity in the southeast US.
True but a 105-110 doesn't feel comfortable no matter what the humidity.

After my trip last week, I am toying with the idea of buying a timeshare on the secondary market. They can be picked up pretty inexpensively $1,500 -$2,000. Of course the killer is the $500-$600 annual feel. Anybody have experience with Vegas timeshares, or perhaps just as importantly could I actually trade a week in Vegas for another timeshare in another desirable location?
__________________
clifp is offline   Reply With Quote
Old 05-21-2009, 04:21 PM   #49
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Nov 2007
Posts: 7,526
No clue about timeshares. I have heard you can rent them very cheaply and not be on the hook for annual fees and have flexibility to use as you like.

Definitely go secondary market and not new sale though if you do it.
__________________
FUEGO is offline   Reply With Quote
Old 05-22-2009, 08:11 AM   #50
Thinks s/he gets paid by the post
 
Join Date: Mar 2007
Posts: 3,323
However, the Sun City areas are not very reduced at all considering the whoppi'n discounts in the rest of the LV area.
The biggest drawback of that area to me is the lack of medical care. Physicians have been flocking away from LV like lemmings going to the sea. Not good if you get sick or have a major accident...not good at all.
__________________
Please consider adopting a rescue animal. So very many need a furr-ever home and someone to love them! And if we all spay/neuter our pets there won't be an overpopulation to put to death.
Orchidflower is offline   Reply With Quote
Old 05-22-2009, 09:32 AM   #51
Full time employment: Posting here.
 
Join Date: Oct 2006
Posts: 898
Quote:
Originally Posted by clifp View Post
True but a 105-110 doesn't feel comfortable no matter what the humidity.

After my trip last week, I am toying with the idea of buying a timeshare on the secondary market. They can be picked up pretty inexpensively $1,500 -$2,000. Of course the killer is the $500-$600 annual feel. Anybody have experience with Vegas timeshares, or perhaps just as importantly could I actually trade a week in Vegas for another timeshare in another desirable location?
I sold a Las Vegas Timeshare I owned last year; I was really lucky to sell it for $5K and got maximum value out of it for the 9 years of ownership, which I acquired developer-resale. There are incredible deals for timeshares in general. I wouldn't pay anything more than $2K for a 2bedroom TS in Vegas unless it's the Marriott Grand Chateau TS. If you join the Marriott TS family, trading into Vegas is not that difficult so you might want to consider purchasing a Marriott at another location.
__________________
Someday this war's gonna end . . .
ChrisC is offline   Reply With Quote
Old 05-22-2009, 03:40 PM   #52
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
clifp's Avatar
 
Join Date: Oct 2006
Posts: 7,450
Quote:
Originally Posted by ChrisC View Post
I sold a Las Vegas Timeshare I owned last year; I was really lucky to sell it for $5K and got maximum value out of it for the 9 years of ownership, which I acquired developer-resale. There are incredible deals for timeshares in general. I wouldn't pay anything more than $2K for a 2bedroom TS in Vegas unless it's the Marriott Grand Chateau TS. If you join the Marriott TS family, trading into Vegas is not that difficult so you might want to consider purchasing a Marriott at another location.
Thanks for the info Chris. A couple of other questions are there are additional fees on top of the maintenance fee, or does that pretty much cover the cost of staying at the unit. Second, in the 9 years you owned the unit how much did it appreciate and how much did the maintenance fee increase?
__________________
clifp is offline   Reply With Quote
Old 05-22-2009, 10:17 PM   #53
Full time employment: Posting here.
 
Join Date: Oct 2006
Posts: 898
Quote:
Originally Posted by clifp View Post
Thanks for the info Chris. A couple of other questions are there are additional fees on top of the maintenance fee, or does that pretty much cover the cost of staying at the unit. Second, in the 9 years you owned the unit how much did it appreciate and how much did the maintenance fee increase?
There are no other fees associated with routine timeshare ownership, but timeshare resorts do occasionally have "special assessments" to take care of extraordinary incidents or when the homeowner's association hasn't managed the resort/facility well and has to play catch-up on a lot of delayed maintenance and care. Maintenance fees generally increase over time. Depends on the nature of the resort/facility and quality of management, like any other condominium/fractional interest ownership. Some maintenance fees are ridiculous. In general, the cost of maintenance fees should be lower than the cost of renting a week at the timeshare resort.

If you want to trade or exchange your timeshare, you generally need to join a timeshare exchange company that has the resort in its inventory. There's an annual membership fee and a trade/exchange fee as well. RCI and Interval International are the two biggest exchange companies. Exchanges or trades depend on value and demand of the week or "points" your timeshare attracts. There are two type of timeshare programs: weeks-based and points based. Marriott, for example, is weeks-based; Disney is points-based.

The Timeshares Users Group (TUG) is the best place to learn about timeshares: Timeshare Users Group - The first and largest online community of timeshare owners providing timeshare resort reviews, timeshare ratings, FREE timeshare advice and FREE Timeshare Classified ads!. It has an active forum, where friendly and good advice is dispensed.

Timeshares don't really appreciated unless you bought at rock-bottom resale prices or rock-bottom preconstruction prices from a reputable developer. Typically, timeshares depreciate in value and are generally a depreciating asset. However, if you buy resale, there are some who have made money off resale purchases.

Most people who are active in timesharing believe timeshares result in great prepaid vacation experiences -- they are not viewed by most of us as "investments" despite the fact that timeshares are interests in property.

My unit did not appreciate from an "investment" standpoint; I overpaid for the unit from the developer's resale inventory; I got back over half of what I paid, but I used the unit to trade into top notch resorts in Hawaii, Florida, Cancun, among other places; I got lots of "bonus trades" on this unit for many years; my maintenance fees were reasonable for many years. After Marriott built its timeshare in Vegas, I really didn't need my unit as I could always trade into the Marriott Grand Chateau timeshare. My maintenance fees went from $395 to $550 during my ownership period, with one major special assessment of $700. The resort started having quality issues and it no longer exacted a high trading premium especially after Marriott built its timeshare resort. BTW, now is a great time to buy Marriott timeshares on the resale market because Marriott has generally not been exercising its right of first refusal for these sales. The timeshare resale market is depressed like the overall real estate market. There are quite a few threads on TUG about these issues.
__________________
Someday this war's gonna end . . .
ChrisC is offline   Reply With Quote
Old 05-24-2009, 08:34 PM   #54
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
NW-Bound's Avatar
 
Join Date: Jul 2008
Posts: 19,391
Quote:
Originally Posted by TromboneAl View Post
We spent one night in Las Vegas on our current trip. So, being an expert, here are my thoughts:

This place is out of control with regard to growth, building, and traffic. At one point I wanted to go one mile to pick something up, but was told it would take 45 minutes by car due to traffic.

Also, I wouldn't want to live somewhere where the climate is less hospitable than that of many planets.

But that's just me.
Yes, it's just you, as I have seen plenty of people of the opposite opinion as evidenced by the houses there.

Seriously, this being the only time I have been in Las Vegas long enough to drive around exploring away from the strip, I have seen enough that I'd rather stay in my corners of Arizona. But that may be just me.

But I'd like to mention the area of Lake Las Vegas again. The only unknown in my mind is the HOA fee to maintain its upscale look. If I didn't have two houses already, I would seriously enquire in this area.

See the enclosed youtube video of Bocelli's concert with the lake as the backdrop. The Ponte Vecchio knockoff you see is part of the Ritz-Carlton resort. The $120K condo I referred to in an earlier post of this thread was on the hill on the far side of the lake, not seen in the video.



And by the way, I knew of the song "Besame Mucho" some time in my early teen years, as sung by Connie Francis. The song writer was a young Mexican girl, not a Spanish man as I had imagined. From Wikipedia,
"Bésame Mucho" is a Spanish language song written in 1940 by Mexican Consuelo Velázquez before her sixteenth birthday. The phrase "bésame mucho" can be translated into English as "kiss me a lot". According to Velázquez, she wrote this song even though she had never been kissed yet at the time. She was inspired by the aria "Quejas, o la Maja y el Ruiseñor" from the Spanish 1916 opera Goyescas by Enrique Granados.
__________________

__________________
"Old age is the most unexpected of all things that can happen to a man" -- Leon Trotsky
NW-Bound is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Was Going to buy in Las Vegas Vinnyfrombrooklyn FIRE and Money 14 08-11-2008 12:45 AM
Vegas...eh bright eyed Travel Information 46 07-04-2008 11:35 AM
a photogram from fort lauderdale part 2: las olas isles & the beach lazygood4nothinbum Life after FIRE 14 05-16-2008 04:02 PM
Las Vegas --Any Board Members Familiar With Condo Market? haha Life after FIRE 7 03-09-2007 10:36 AM
Cheap Las Vegas Lodging? BigMoneyJim Other topics 15 02-07-2005 03:45 PM

 

 
All times are GMT -6. The time now is 04:37 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.