WELCOME TO RIVER DAVES PLACE

***VEGAS HOME PRICES...IS THIS A SIGN???***

2FORCEFULL

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2 of my sons are on the move and want to get up graded homes...I've try'n to help them out a little and looking around.... last time this came up,.. everytime they found something it was sold the next day...lots of full price cash buyers.... now... I'm looking at home that the price has been dropped, and the house on the market for 30 days...did the price's jump up too quick and now adjusting???? or is the sky falling..it would be cool for my sons if it hit bottom again...they own their homes no mortage...so buying power would be the same at the lower level, but would save them a bunch on property tax...
 

NicPaus

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I went to 3 properties today with realtor. Market still strong here. One 940 sq ft condo in Torrance sold for 510k off market deal. Another 2500 sq ft house by it getting ready to list for 1.3. One in Lomita which might be a deal if sold as is trying to see if a buddy can get it. $650K as is 1700 sq ft with a pool. Or we fix it and list for $739K.
 
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LHC30

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In a week or less we’re going to be listing our Upland 1500 sq ft 3 be. South Upland, great neighborhood etc. looking at 485K$
 
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Mandelon

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San Diego market has cooled a bit. Prices have been reduced on those listings that were too aggressive. Market times increasing.

This is more of a return to sanity than the beginnings of any sort of crash.
 

185EZ

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We sold our home May 2018 in a nice area of Summerlin.
Barely broke even on one condo and gave our ass to sell another condo
They flipped our home but it's still for sale and keep lowering the price
We were just in Vegas and so many new homes and apartments being built.
New homes are a bargain compared to buying used.
Apartments are a bargain with all the nice ammenities without dealing with home buying or worrying about a meltdown
If i was going to buy again in vegas it would just be an apartment
But I'll NEVER do either in Vegas EVER again. Not worth the gamble
Stayed at Red rock casino and left with a smile on my face
 

WhatExit?

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Time of year. Once families put the kids in school, they don’t want to move till next summer. That’s one big reason the market heats up in the spring

^^^ THIS ^^^
 

Havasu blue label

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We are thinking about Vegas summerland is it the people are just boring town besides the strip or the havasu rivera another choice
 

Tbrownski

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I don’t know about Vegas but Reno has a ton of inventory and rentals available. 49% of homes on the market have had a price reduction. The market looks like it’s leveling out but usually this is one of the busiest times of year.
 

CoolCruzin

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Damn buyers are paying more than the market
Stupid as hell , you offer less is how I work
 

185EZ

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I heard 50 per month hoa summerland. And then community has there's
yep, get into a condo and it's 3 HOA dues.
We were up in Desert Shores. Cool area with the connecting lakes
maxresdefault.jpg
 

boatpi

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Southwest Vegas!! No big traffic very quiet view of the mountains and everything is no more than five years old other than the acreage with horses on them still . Look at 89113 in this area south of the 215 loop.

Fabulous new and existing houses if you can find one that used good luck , not many. Neighbor just sold hers in 55
Days 900k. For an4,200 sq fr house in 1/2 acre 2 years old.
 

grumpy88

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We showed our house in Los Angeles yesterday and already have 2 full price offers and one 10k lower all within 24hours . We are looking in boulder city and I agree that a lot of homes are either sitting or dropping in price and new homes are hitting the market daily . Makes me worried I will be buying at a peak in Vegas
 

GRADS

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2 of my sons are on the move and want to get up graded homes...I've try'n to help them out a little and looking around.... last time this came up,.. everytime they found something it was sold the next day...lots of full price cash buyers.... now... I'm looking at home that the price has been dropped, and the house on the market for 30 days...did the price's jump up too quick and now adjusting???? or is the sky falling..it would be cool for my sons if it hit bottom again...they own their homes no mortage...so buying power would be the same at the lower level, but would save them a bunch on property tax...
Oh no you didn't..... @OldSchoolBoats is going to be throwing chairs and shit over this thread.:eek::D
 

blue wonder

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I have a house for sale in the area, 1198 Macdonald ranch drive, open to offers :)
 

Flying_Lavey

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Anybody want to buy a nice house in Heritage Ranch at Nacimiento? The market has damn near flatlined as soon as we moved away. We have ours listed below what really its value should be for the updates it needs and not a single offer

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boatpi

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Lake Las Vegas has almost 100 homes being built, but it like Boulder City is way out from main part of valley, yet very quiet. This is a diverse area, so look around a lot. if you are employed, find a house within 20 minutes of your job, generally the Vegas resident commute limit. Depending on your budget, in the NW and Sw, there are many new and nearly new houses for sale, and many on large lots, up to 1/2 acre. Or you can buy a house on an acreage, they do exist and often on horse land.

As an example, if you are employed downtown or on strip, then look at the Rancho and Okey area. Older, but some really nice places with much less property taxes as the houses are older.

Or new way new upscale places; In general if you have a new house with a view on the hill, it will NOT come with much of a lot and be 1 Mil++. In my hood we have large lots, mountain and strip views on many. See this in my hood:https://www.redfin.com/NV/Las-Vegas/8255-Canyon-Tree-Ct-89113/home/113713536

Or just 1/2 mile away, this: https://www.redfin.com/NV/Las-Vegas/7796-Victoria-Falls-Ct-89113/home/28990864
 

OldSchoolBoats

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Oh no you didn't..... @OldSchoolBoats is going to be throwing chairs and shit over this thread.:eek::D
Hahaha!!
Like mentioned earlier in the thread, it is the time of year and every market is different. We are most likely going to list our Havasu house within the next week or so, as I found a place in the Islander that we are interested in. I think listing in Havasu right now is a good move, as the buyer pool for homes out there is different this time of year.

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OldSchoolBoats

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Anybody want to buy a nice house in Heritage Ranch at Nacimiento? The market has damn near flatlined as soon as we moved away. We have ours listed below what really its value should be for the updates it needs and not a single offer

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Damn man, sorry to hear that. Buyer pool has to be pretty small up there. Hopefully you guys get it sold soon.

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grumpy88

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That su
Anybody want to buy a nice house in Heritage Ranch at Nacimiento? The market has damn near flatlined as soon as we moved away. We have ours listed below what really its value should be for the updates it needs and not a single offer

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That sucks . Like selling anything it's either price or marketing . Good luck
 

02HoWaRd26

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People are still asking stupid amounts, however they are no longer getting the stupid immediate offers, so those that actually would like to sell are lowering their asking prices those that only wanted to see so they could make the money are staying there. However the market all around has cooled greatly, homes and toys. As well we are just stepping into the next election season, already so well people are preparing for that and buttoning up.
 

Flying_Lavey

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Damn man, sorry to hear that. Buyer pool has to be pretty small up there. Hopefully you guys get it sold soon.

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It wasn't a small pool when we first listed. Houses were flying off the market. Then it all just stopped.
That su

That sucks . Like selling anything it's either price or marketing . Good luck
Unfortunately nothing is really selling in Paso Robles right now. Even in town

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DirtyWhiteDog

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Vegas market has just stabilized, houses selling in 30-75 days like they should, with normal reductions. Building permits for new housing have been pretty stable for the last 3 years
 

EBT531

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PHX is still strong. My neighbors house sold in 7days, full price offer. I've been watching for another rental home and the ones I see are gone within 30 days.
 

PaPaG

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2 of my sons are on the move and want to get up graded homes...I've try'n to help them out a little and looking around.... last time this came up,.. everytime they found something it was sold the next day...lots of full price cash buyers.... now... I'm looking at home that the price has been dropped, and the house on the market for 30 days...did the price's jump up too quick and now adjusting???? or is the sky falling..it would be cool for my sons if it hit bottom again...they own their homes no mortage...so buying power would be the same at the lower level, but would save them a bunch on property tax...
Everything in Vegas is moving much slower, I think prices are going to stay stagnant and even adjust a bit lower cooling off a bit for a while and that may be the time to buy. Luckily I just sold one I owned for 16 years and after I did a complete remodel inside and out it sold in 2 weeks without negotiations at full asking for highest price in the neighborhood.
 

PaPaG

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Lake Las Vegas has almost 100 homes being built, but it like Boulder City is way out from main part of valley, yet very quiet. This is a diverse area, so look around a lot. if you are employed, find a house within 20 minutes of your job, generally the Vegas resident commute limit. Depending on your budget, in the NW and Sw, there are many new and nearly new houses for sale, and many on large lots, up to 1/2 acre. Or you can buy a house on an acreage, they do exist and often on horse land.

As an example, if you are employed downtown or on strip, then look at the Rancho and Okey area. Older, but some really nice places with much less property taxes as the houses are older.

Or new way new upscale places; In general if you have a new house with a view on the hill, it will NOT come with much of a lot and be 1 Mil++. In my hood we have large lots, mountain and strip views on many. See this in my hood:https://www.redfin.com/NV/Las-Vegas/8255-Canyon-Tree-Ct-89113/home/113713536

Or just 1/2 mile away, this: https://www.redfin.com/NV/Las-Vegas/7796-Victoria-Falls-Ct-89113/home/28990864
BOULDER CITY IS CLOSED :)
 

2Driver

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So you are never selling in your lifetime LOL.

But my neighbor said the equity in my home is like cash going to waste.

He suggested freeing up the equity and use it to put a downpayment on 2 or 3 rentals properties and if there was any left over it’s like a free RV or boat just sitting there.
 

beaverretriever

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But my neighbor said the equity in my home is like cash going to waste.

He suggested freeing up the equity and use it to put a downpayment on 2 or 3 rentals properties and if there was any left over it’s like a free RV or boat just sitting there.

Home equity line of credit rates are usually higher than just a conventional home loan. Even with less than 20% down and PMI, the rates will usually make up for the higher rate you will get pulling equity out of your home to purchase an investment property. So buying a rental with little down or nothing down vs. pulling money out of your main residence doesn't make financial sense. Plus you are risking your personal home for an investment property which isn't a risk you don't want to take if thing go financially awry.

As for home prices; I guess it's all relative in terms of pricing seeming high in Vegas. My wife and I throw around the idea of moving back every time it gets cold here in NorNev and we always say how much you can get for your money in Vegas. We would have a way nicer home in a comparable neighborhood than what we have here for around the same price.
 

D19

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Every single area is different but two points seem to remain true during the fall/winter for sellers.

1) There are a lot less homes on the market in the fall/winter, which means less competition.

2) There are less buyer's out there looking, however the ones out there are usually very serious. They have to or want to move now.

This time of year is a great opportunity to move a property without a bunch of tire kickers wasting your time, having several other homes to compete with and since inventory is usually limited during the fall/winter, you can be a little more firm with your list price.
 

LargeOrangeFont

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But my neighbor said the equity in my home is like cash going to waste.

He suggested freeing up the equity and use it to put a downpayment on 2 or 3 rentals properties and if there was any left over it’s like a free RV or boat just sitting there.

Your neighbor went BK in 2008 huh? :)

You could do that if the rental market you were looking at was good, if you had a sizable savings, and the home to rent prices were favorable. Too many variables to hazard a guess without specific info, but it could be done.

You’d have to net quite a bit in rental income to offset the increase of your primary residence, and you are on the hook for the maintenance, payments and taxes of multiple properties.
 
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pronstar

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But my neighbor said the equity in my home is like cash going to waste.

He suggested freeing up the equity and use it to put a downpayment on 2 or 3 rentals properties and if there was any left over it’s like a free RV or boat just sitting there.

There are lots of variable to consider...but IMHO your neighbor is right.

Money is a tool best used to make more money.



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2Driver

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On a serious note I keep tabs on this site for raw data. At the end of the July report, attached, is a good write up of a comparison to 04. This is the Phx market. Not sure if the metro MLS does this in other areas, but its great data

http://armls.com/docs/2019-July-STAT.pdf
 
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DC-88

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Unfortunately nothing is really selling in Paso Robles right now. Even in town

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Yours will sell. Buddy and I had a house in the old Harrod tract off Charolais Rd that we had rented out since we bought it in 10'. Cleaned it up in May, listed it, and had it in escrow in about 35 days. We were aware of a few other similar ones for sale at the same time, and the next door neighbor with a single story painted his and listed it a few weeks after ours. Ours closed about 60 days after the initial listing (approx July 1st), and all the others including the one story next door have all sold over the last 6 weeks or so---
 

2FORCEFULL

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Anybody want to buy a nice house in Heritage Ranch at Nacimiento? The market has damn near flatlined as soon as we moved away. We have ours listed below what really its value should be for the updates it needs and not a single offer

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I'd be in in a heart beat,... but, my wife would never move away from her Mom and Boys.....the quality of life and real living is right there... one of the best "Talk shit get hit area's I've ever lived in,... had 20 acre's of almonds about half way out to the lake from town...
 

2FORCEFULL

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Funny,... the vegas news must have read this thread.... they said that vegas housing is "Normalizing"
 

Flying_Lavey

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I'd be in in a heart beat,... but, my wife would never move away from her Mom and Boys.....the quality of life and real living is right there... one of the best "Talk shit get hit area's I've ever lived in,... had 20 acre's of almonds about half way out to the lake from town...
The absolute greatest area to line in bar none. If you can afford it. It's gotten quiet expensive there and it's not the area like you remember as far as the mentality. Still some of the overall nicest neighbors anybody could ask for (and by neighbors I mean the entire community). If there weren't several factors that forced us away (several new laws in the state that will have a direct negative impact on my 2 youngest amongst other things) I would have never left.

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TCHB

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2 of my sons are on the move and want to get up graded homes...I've try'n to help them out a little and looking around.... last time this came up,.. everytime they found something it was sold the next day...lots of full price cash buyers.... now... I'm looking at home that the price has been dropped, and the house on the market for 30 days...did the price's jump up too quick and now adjusting???? or is the sky falling..it would be cool for my sons if it hit bottom again...they own their homes no mortage...so buying power would be the same at the lower level, but would save them a bunch on property tax...
One thing their is a lot of new homes going in the Henderson area competing with older homes.
 

TCHB

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2 of my sons are on the move and want to get up graded homes...I've try'n to help them out a little and looking around.... last time this came up,.. everytime they found something it was sold the next day...lots of full price cash buyers.... now... I'm looking at home that the price has been dropped, and the house on the market for 30 days...did the price's jump up too quick and now adjusting???? or is the sky falling..it would be cool for my sons if it hit bottom again...they own their homes no mortage...so buying power would be the same at the lower level, but would save them a bunch on property tax...
 
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