Las Vegas: anyone looking to buy there?

[Orchidflower]

Since the market is so down, is anyone on this board thinking of purchasing a property in Las Vegas where the prices are bottoming out? A couple years ago I did some extensive looking on the net in the Vegas area, but came to the conclusion that anything in a semi-safe area there was beyond what I, personally, wanted to spend; however, now...wowie! Looks like you can have your pick almost.
So, I am wondering if anyone on this board plans to take advantage of these super low prices in Las Vegas. Isn't that supposed to be a geezer paradise to retire in?

 

[crazy connie]

I have debated the Henderson area a bit. I love the lake and all the pretty lights. By the time my home recovers enough though Vegas may be on a tear again. I alternate between what and where I want to be. It may be that as a single there is more fear of change and much more challenging to fit in and find friends.

 

[jug]

I live in Henderson, if you want to buy, do it now, you can get great deals, you never know when the bottom is, but in 5 years, things may turn around. There are many beautiful places to live here, and once the boomers get unstrung and their act together, they will eventually fill this place up. They aren't getting any younger, and they will sell on both coasts once things loosen up, and head for Arizona, Vegas and whereever.

It's safe to buy now.
jug
geezer

 

[ziggy29]

My biggest concern there long-term would be water. Of course, that could be because we're mired in a horrific drought at the moment.

 

[Orchidflower]

I remember when Houston went thru it's 10% unemployment in the early to mid-80's. Lots of empty homes, too. It filled up, and some friends of mine made a killing when they finally sold their homes 15-20 years later. I get your point, Jug.

 

[FUEGO]

What are some typical "good deals" you are seeing in LV?

Last time I was out there in January, we cruised around some neighborhoods way out west near Rampart Blvd and Rampart Casino and the houses seemed ridiculously high priced versus what I am accustomed to in my southeastern US non-bubble area. And wowie are the lots small!! I know the lot size is due to the desert climate and the expensive development costs per acre.

 

[jug]

What are some typical "good deals" you are seeing in LV?

Last time I was out there in January, we cruised around some neighborhoods way out west near Rampart Blvd and Rampart Casino and the houses seemed ridiculously high priced versus what I am accustomed to in my southeastern US non-bubble area. And wowie are the lots small!! I know the lot size is due to the desert climate and the expensive development costs per acre.

You were in Summerlin a more established area. Go to Henderson, an newer area where they just overbuilt and have tons of inventory.
The lots are small, where the new buiidling took place, look the sun cities, you'll see many bargains. Perhaps 2000 sq feet at 230K. Land is not that important to me, a small yard as you get older or are just lazy is fine.

It depends on what you are looking for, living in Vegas which is strange to begin with, dry climate, very little rain. As for water, yeah there is a problem, but keep in mind you are not going to run out of drinking and bathing water, new homes have no grass, drip systems for desert plants.

I like since I live in a quiet area, but if I want action, it's a 20 minute drive, so the best of both worlds. Easy access by car to many southwest scenic areas, to Phoenix, LA and Tucson. Major airport in center of town. You can't get bored here, always something going on in entertainment. Not as big or crowded as other SW cities. No state income tax, but no services either. School suck, but who cares? I dont' go to school.

Medical care is quirky, weird, inconsistant, but that is Vegas, weird as hell. It's a magnet for "immigrants" from the rest of the country, we get the good, the bad, very bad and ugly.

Jug

 

[Orchidflower]

No State income tax in Texas meant mentally ill/indigents are standing on every fourth corner with "Will work for cash" or some other type of sign.
Of course, the very best bum ever was the guy with the sign, "Why lie? I want a beer" sign. However, he was topped with the second guy who had a sign that said, "Why lie? I want a beer and a hooker, too, please." I laughed all the way to Starbucks.

Jug: My friend's sister is a Dispatcher for the Police Dept. there, and said a couple years ago (before the crash) that LV was overrun by gangs. And she has lived there her entire life. Is it still so bad?

 

[REWahoo]

No State income tax in Texas meant mentally ill/indigents are standing on every fourth corner with "Will work for cash" or some other type of sign.

Maybe I'm missing the obvious, but I fail to see the connection between the lack of a state income tax and the number of mentally ill or indigent begging on street corners. Are you saying they congregate in no-tax states to avoid paying taxes on their panhandling incomes?

 

[FUEGO]

You were in Summerlin a more established area. Go to Henderson, an newer area where they just overbuilt and have tons of inventory.
The lots are small, where the new buiidling took place, look the sun cities, you'll see many bargains. Perhaps 2000 sq feet at 230K. Land is not that important to me, a small yard as you get older or are just lazy is fine.

It depends on what you are looking for, living in Vegas which is strange to begin with, dry climate, very little rain. As for water, yeah there is a problem, but keep in mind you are not going to run out of drinking and bathing water, new homes have no grass, drip systems for desert plants.

I like since I live in a quiet area, but if I want action, it's a 20 minute drive, so the best of both worlds. Easy access by car to many southwest scenic areas, to Phoenix, LA and Tucson. Major airport in center of town. You can't get bored here, always something going on in entertainment. Not as big or crowded as other SW cities. No state income tax, but no services either. School suck, but who cares? I dont' go to school.

Medical care is quirky, weird, inconsistant, but that is Vegas, weird as hell. It's a magnet for "immigrants" from the rest of the country, we get the good, the bad, very bad and ugly.

Jug

It's a nice place to visit (and I'll be back in May), but I don't know that I would want to live there. The landscape looks too bleak for me - I'm used to lush green and trees everywhere.

2000 sf for $230k still seems fairly high-priced for me. $230k would buy much more house and yard around my area. I just took a quick peak at my zip code on realtor dot com and saw a couple of beautiful houses near me for under $200k with 2,600-3,000 sf, 5-10 years old, and 4-5 BR with 1/4-1/3 acre yards "in town". I guess low real estate prices are all relative! And my older n'hood is full of 1800-2500 sf houses selling for $140-170k generally (or they were selling for that a year ago - no idea now since I haven't been keeping track of it).

I'll make sure to lose some money out there at the blackjack tables to help support your local economy!

 

[W2R]

I have never been to Las Vegas, but I don't think I would like living there at all. My main objection to living in Las Vegas (other than the cost of living) is that it is so terribly dry.

Besides, the whole Las Vegas mystique is just not me. Drinking, gambling, and going to shows are activities that have little appeal for me.

 

[FUEGO]

Besides, the whole Las Vegas mystique is just not me.

You got to love Las Vegas. Where else can you get a $7 steak dinner that includes salad, baked potato, and a huge microbrew beer, then chase it all down by losing $50 in an hour, all the while swilling down "free" drinks? And the stale cigarette smoke lingering in the atmosphere of every casino? Mmmm...

 

[MasterBlaster]

Here's a real bargain !

If you bargain hard, I'll bet that you can get this for next to nuthin'

 

[FUEGO]

If you bargain hard, I'll bet that you can get this for next to nuthin'

"Great Mountain views all around. Large, expansive acreage. No neighbors within sight. Open vistas. Privacy. Excellent breezes throughout the main living quarters. Rustic, antique appeal throughout. Low property tax. Cozy, with perks! Come see it today! This one won't last long!"

 

[jug]

You got to love Las Vegas. Where else can you get a $7 steak dinner that includes salad, baked potato, and a huge microbrew beer, then chase it all down by losing $50 in an hour, all the while swilling down "free" drinks? And the stale cigarette smoke lingering in the atmosphere of every casino? Mmmm...

Hey, all depends on what is important to you. I'm a retiree, my community has it all, swimming indoor and out, all sorts of clubs, puters club, hiking, riding, card playing, travel. Indoor gym, all for about 90 bucks a month HOA dues.

At first the lack of greenery got to me, but after a while you adjust. It's like any other place, you just get used to it and find out what you like to do.

Some folks never go to the strip or casino, except for a 2 for 1 buffet, and just participate in their little activities to keep them going. Some get jobs in service areas.

jug

 

[FUEGO]

Hey, all depends on what is important to you. I'm a retiree, my community has it all, swimming indoor and out, all sorts of clubs, puters club, hiking, riding, card playing, travel. Indoor gym, all for about 90 bucks a month HOA dues.

Sounds nice! One thing I really like about LV and never knew about it until I traveled there, is that there are mountain ranges flanking both sides of town. Very scenic!

 

[kumquat]

If you bargain hard, I'll bet that you can get this for next to nuthin'

Hey, that's my sister's place. It ain't for sale, she didn't spend 20 years paying it off so someone can pass it of as their own and scam an innocent buyer.

 

[Vinnyfrombrooklyn]

I have been watching the LV market for about 2 years. I almost pulled the trigger on one 3 bedroom house for 150k but at the last minute I decided to fix my house here instead. That same house can be seen for 120k so in a good way I am glad with my decision.

I still get daily emails from my real estate agent out there and see some condos for 60-70k that I might get for a vacation place. Why buy a timeshare

 

[Bram]

Dh & I stayed in LasVegas for about 8 months 2007-8 while he was working there. I loved the climate & thought the desert scenery beautiful. Mt Charleston is about an hour north & has alpine climate, complete with skiing, hiking, etc. Red Rock Canyon is another really neat & beautiful place to visit about an hour outside Las Vegas.

We stayed in an RV park not far from Henderson, near Sam's Town.

Sure, LV has a down side but I think I could live there, but doubt dh would ever agree to it. He likes the 4 seasons & hills & hollows of Ohio.

 

[jug]

If you like living in an insane asylum, it's great, but you have to take your meds everyday.

Just think, you roll out of bed at 2 am, belch loudly, look at your spouse snoring, hop into your car, go to casino, order some cawfee and a roll, whatever, belch loudly again, then go over and play some cards or video game while some nice young thing with a string up her butt is serving you drinks, not so bad.

Jug
like the strings in de thing

 

[Orchidflower]

Jug, does that mean you like living in LV?
Me, I would love the 24 hour everything open. I could pick up my dry cleaning at 3 am? Fantastic.

 

[mh]

Jug, does that mean you like living in LV?
Me, I would love the 24 hour everything open. I could pick up my dry cleaning at 3 am? Fantastic.

i'm not a lv resident but i have some friends that live there.
and i've visited them for 2/3 days at a shot.
if seemed to me that most "everyday" establishments
had regular hours.

 

[Rustic23]

We lived in Vegas during our early years. The nursery on base was open 24 hours a day 6 1/2 days a week. It closed Sunday around 10pm and re-opened about 5am Monday. Vegas also had a great PR machine. The owner of the local paper controlled the United Press outlet so only good news got out of town. Crime and gangs were a problem in North Las Vegas in the 60's. I don't think it has gotten any better, judging from the last time we were through there.

On the bright side, there is, or was, employment for those seniors looking to pick up extra income. Don't know if that is still true now.

I knew an Army full bird that said he was going to retire in Vegas. He said it was his type of town, you could eat, gamble, drink and get serviced 24 hours a day!

 

[jug]

Jug, does that mean you like living in LV?
Me, I would love the 24 hour everything open. I could pick up my dry cleaning at 3 am? Fantastic.

For retirement it's great as far as I'm concerned. The weather is good, sun out most of the time. I don't know about dry cleaning, but if you want something to do at anytime, it's there.

I'm ok here, don't miss the east much. It has a little bit of everything. What are ya looking for?

jug

 

[Rustic23]

Vegas was the last place we used a cloths line. When DW hung out the clothes, the first diaper on the line would be dry before she pinned up the last one. VERY hot dry climate in the summer! So hot we only launched aircraft early morning and late evening in the summer.