My last HOUSE in VEGAS........give you idea of LV HOUSING MARKET

[Fishhead]

A 1700 sq ft home...........




1997........purchased for..... 123,500
2002........sold for .............160,000
2005........zillow value .......334.000
2008........zillow value .......163,000
Current.... zillow value....... 113,000

[tltaylor89]

I was looking at a $375,000 home going for $122,000

[Extra Innings]

You were probably kicking urself in 05....but at the same time you could of been still holging it today for a loss...instead you walked away with a very nice profit.

[tltaylor89]

We aregoing to have anothe housing bubble but in China.

[jackpot269]

That is some big upside down chit !!!!!!!!! and they say a home is the Best investment !!!

[magynuck]

sold my house here yesterday so this is interesting info

at 1 point vegas was my retirement destination but with online offerings no longer holds the same allur

[3PtShooter]

think this is going on all around the US

[tltaylor89]

I want to retire in LA and hav a home in Vegas so many places so little time

[Fishhead]

I want to retire in LA and hav a home in Vegas so many places so little time

Having more than one home is a great thing if one can pull it off............CONGRATS

[sundin4prez]

thats nuts, i guess the stuff in toronto that people where freaking out about is nothing compred to vegas.... houses in T.O. that regularly go for 600k (average everyday house) in 2008 where going for 530-540 ish and people where tripping balls.... now everything is back to normal...

by the way to you guys have like a mls (real esate site where you can see whats for sale and how much) in the states?

[Ralphie1412]

I want to retire in LA and hav a home in Vegas so many places so little time

I barely want to vacation in LA let alone retire there.

[Brock Landers]

A 1700 sq ft home........... 1997........purchased for..... 123,500 2002........sold for .............160,000 2005........zillow value .......334.000 2008........zillow value .......163,000 Current.... zillow value....... 113,000

wow, what a time to buy!

[mathdotcom]

In Canada that wouldn't even buy you a bachelor suite on the edge of any major city's outskirts.

[playersonly69]

FISH, 1700 square feet is not big enough. You have to go 3000 at least and you can afford it.

If you go with the 1700 foot home, then in 9 months you will regret it. GO BIGGER OR DONT GO AT ALL

[StraitShooter]

that roller coaster ride sums it up for the entire nation. Perhaps the value of homes was merely over inflated in 2005. I dont see them reaching those levels for another 20 years. If ever. I think it will stabilize at around 180 for these type homes within the next 5 years

[mrmarket]

Very cheap. Only thing in my city at those prices are 1 bedroom 1 bath basement condos and completely ruined shoe box houses.

[flyingillini]

I barely want to vacation in LA let alone retire there.

Los Angeles is a screwed up place. No way in hell I would ever want to live in LA. Even if you live in Brentwood you still have to deal with other parts of the city. My area is being destroyed with people moving here from LA. Taylor, find somewhere else, LA is a dump!

[gambleballs]

Zillow's "Zestimate" could be one of the worse value estimators i've seen. It said my house was worth 310 when I paid low 200's. I think they weigh sales from years back way too much. Same property went for 440 in 2005

[betyuda]

No way. I was looking for place at $750,000. what can i get in vegas for that price now?

[Fishhead]

No way. I was looking for place at $750,000. what can i get in vegas for that price now?

A very nice 5000-6000 sqft home with a nice pool..........security gated.

[Iceman]

Zillow's "Zestimate" could be one of the worse value estimators i've seen. It said my house was worth 310 when I paid low 200's. I think they weigh sales from years back way too much. Same property went for 440 in 2005

I agree. I admit its useful to get an idea what the neighborhood is like and to compare them but I love it when people get all proud cause their home was worth X amount 5 years ago. Who cares? Its only worth the amount it sells for now.

I remember a few years back when I was house shopping quite a bit a real estate guy told me the problem with the market at that time is everyone thought THEIR house was worth way more cause of something they read or an appraisal that was done from last year or a neighbor sold their home 2 years earlier for ...... Like he said the bottom line is it is only worth what you can sell it for that day and even though people know the market is dropping all around them they don't think it is with their house. Eventually when it sits for months at a time they finally realize it.

[Fishhead]

I agree that ZILLOW is not the definitive answer to evaluating a homes price...........however, if one uses the site and studies it religiously, it defitely gives one a feel for home prices in a certain area.

With so many foreclosures, prices are going to vary differently depending on many factors...........including, but not limited to the motivations of the seller and buyer.

Take the ZESTIMATE in my example, this house DEFINETLY could have been sold for as much as 320,000 at one time and with a ZESTIMATE of 113,000 currently, depending on the factors above plus others,...........it may be had for the 10,000-15,000 less or as much as 135,000..............but overall I have found ZILLOW a very good barameter to gauge prices with on houses in the 100,000-300,000 range.

But again, one needs to investigate properties firsthand and as mentioned, many factors are going to determine the potential selling price of a home, for both the SELLER and the BUYER.

[sundin4prez]

In Canada that wouldn't even buy you a bachelor suite on the edge of any major city's outskirts.

yep..... you can barley get a shit 1 bedroom condo on kingston street (absolute shit neighborhood, where prostitutes come out at night and probably 70% of people that live on that street are either black or middle eastern..

[Iceman]

Spent the past 2 weeks looking at some homes for our move back to LV from SD. Just wanted to see what was out there and boy were we really shocked, sure the prices were affordable and more in line with reality unlike 5 years ago but there was one thing we were not expecting.

Houses are selling fast now. It really surprised me. Every agent told us the same thing but then again I think they are trained to tell buyers that. It seemed if we had any interest in a home it was gone within one day. Sellers are so scared and buyers with record low low interest rates are jumping on these bargains. Bottom line Vegas in finally priced right. After a few weeks of having every house we were serious about be gone within 24 hours we gave up and have decided to stay renting for the time being.

Not sure how serious we really were if push came to shove or what this exactly means either for the future.

[Fishhead]

Buy a home ICE..........with a hot tub and pool.


...............and get out of Summerlin and enjoy life in Green Valley, way more +EV oppurtunties close by.

[str]

Please do not take the word of an agent.Like going into a car dealership and asking the salesman for buying advice. Fishhead's old avatar is what you get.
Next one I meet that really knows what they are talking about will be the first one.

[Doug]

Why would FH need over 1700 SF ( PO) ?

FH: Isn't Florida hit just about as hard as LV ?

I'm going to be listing my Condo for sale as soon as tomorrow, been talking with a realter. Paid 160k in 2003. I think it will be listed at 255k. The last comparable one ( 2br/ 2.5 bath) sold in 2006 at about 275k. 1 BR/ 1.5 bath units sell frequently for 180-220 k. Very few 2 br units here.

Realtor wants 5%, should I try to talk him down to 4% ?

Any other Tips for listing it ( like length of contract, etc.) ?

[Fishhead]

Why would FH need over 1700 SF ( PO) ?

FH: Isn't Florida hit just about as hard as LV ?

I'm going to be listing my Condo for sale as soon as tomorrow, been talking with a realter. Paid 160k in 2003. I think it will be listed at 255k. The last comparable one ( 2br/ 2.5 bath) sold in 2006 at about 275k. 1 BR/ 1.5 bath units sell frequently for 180-220 k. Very few 2 br units here.

Realtor wants 5%, should I try to talk him down to 4% ?

Any other tips for listing it ( like length of contract, etc.) ?

Prices higher in Florida Doug, not to mention all the crappy intangibles living here cost wise(insurance, taxes, fees, etc., etc)

A 1700 sq ft home usually has 3 bedrooms and with a nice backyard and two-car garage is more than enough for ONE individual..............Billsfan is in the plans though on the move, so we would be looking at a home 1700 sqft MINIMUM sizewise and no bigger than 3000 sqft.

[Iceman]

Buy a home ICE..........with a hot tub and pool.


...............and get out of Summerlin and enjoy life in Green Valley, way more +EV oppurtunties close by.

Every home we looked at had a pool. We made that as a huge priority and I think that may have been the main reason we had such a hard time finding a home. If anyone wants to buy/sell a home in Vegas, a pool is a huge selling point. The thing is in Vegas most homes look exactly the same, especially in Summerlin area where most were built in last 15 years. They have no real idenity without basements, no yards, etc... Not a whole lot of difference between them as they are all pretty much the same compared to where I am from (the mid-west, where homes and yards are quite different).

Looked at one home right by the M (best casino in Vegas nowadays, IMO) but didn't do it. Sorry FH I know we agree on a lot of things but Summerlin is a way better place to live no doubt in my mind. You are right about the closeness of things though in GV but I kind of like how Summerlin has the "no Vegas" feel to it. Go as far west as you can, preferably west of the 215 or in what they call South Summerlin to be specific,, that area is very nice. Over by the Red Rock area, cooler, nice mountain views and away from the hustle and bustle of it all. Good place to walk a dog, LOL.

[Iceman]

Same here square footage wasnt much of a consideration for us and our family of 2 dogs and a cat. Much more worried about having some kind of yard, maybe a pool, a 2nd story, nice neighborhood that is clean and very safe, 2 full bathrooms a must, 3 bedrooms, certain location being in a certain area.

Though sqaure footage is important its way down there on our list of things. 1,500-2,300 is about right. Heck you give me pool in the neighborhood I want and I will go as low as 1,250 sq ft or so. Actually we had almost a 3,000 sq ft home back in Michigan and it was a joke, didn't use half the rooms in the house. Plus wife had way more to vacuum and keep clean, LOL.

[Fishhead]

We are not ruling out Summerlin................you as a nearby neighbor would be a plus.

[konck]

It will never again hit the peak it was at before but now is a nice time to buy its pretty much the bottom. But be smart eniugh not to be greedy and take a good profit for your retirement when the time is right.

[konck]

Im in the process of buying a home in Florida that sold for 220k in 2006/2007comm Im buying it as a short sale for 130k with...the ajoining lot thrown in which is hard to believe. The hold up is I had a verbal commitment from the selling bank but they havent signed yet only the seller has. Im beginning to worry alot I would like to leave Mississippi.

[Fishhead]

It will never again hit the peak it was at before but now is a nice time to buy its pretty much the bottom. But be smart eniugh not to be greedy and take a good profit for your retirement when the time is right.

Anything I purchase now will be partly for retirement.......im an old geezer.

[Doug]

FH: I have to admit that you have me considering going back to Vegas too !

I'm thinking about several places like ( in no particular order).....

Hilton Head Island SC
Parts of Florida like Daytona Beach, Tampa, Pensacola, etc. It would need to coastal and not Miami
Biloxi
coastal Ala.
maybe Texas
California is too expensive.
Add Vegas now. Few insects are nice, kills the deep South humidity factor too. Winter weather is pretty ideal. Traffic is kind of heavy. I would like a beach but SD is 5-6 hours way. I would like a better job market though.