[hubby's girl]

Hi. My husband and I have just moved here from Phoenix, so no worries about weather. We are currently renting a house while we search for a home to buy. The fees and property taxes are a shock to us. For a 320,000 house with country club frontage we paid 1800 a year in taxes and 300 every 6 months for HOA dues. (Oh, and those state income taxes we had to pay that you don't...ran us $272.00 total last year).

Needless to say, we won't be able to afford anything close to what we had back there. The additional fees bring us down to affording a house in the low 200,000s. And forget about houses on a country club out here for that kind of price.


Anyway...long rambling story to ask this question:

We found a house in the Paradise section of town. Around Oquendo and Lamb area/ Russell and Sandhill area.

I don't know what to make of that area. On one side you see homes for 6 million and then a mile away are garbage heaps I wouldn't pay 10k for.

I really love the house we found. It is big. Over 3000 sq ft on a half acre, but I heard the previous owner say the water bill in the summer was over $300! Can that even be possible? (We are only two of us). Then electricity ran around another $300. (That I expected). And the gardener charges 275 a month! Huh? I paid my guys 75 a month in phoenix and they came every two weeks! Our pool guy came once a week and we paid him 100 a month and I have heard quotes out here of 100 a week! Are these prices normal? At this point, we may be down to a one bedroom rental in downtown vegas.

I tried looking up the crime stats and it seems to be in line with other neighborhoods. We are currently renting in Summerlin and to find a house like that up here would be 3 times the price....so totally out of the question.

What can anyone tell me about that area? Is it falling apart or does it have a chance of coming back up? And that water bill? It does have a pool, but not a very big one.

I have looked at over 3000 houses online and about 300 in person. I am so burned out on this whole process and my realtor is a moron. Too late to change since we put in an offer on this house. But I really could use just one person on my side in this whole process. We have a long way to go as it is a short sale (aren't they all?) and who knows what the bank will say. I would just like to have some concept of the area and prices for things out here.

Thank you in advance for helping an overwhelmed wife try to do it all.

[airics]

If you only paid $272 total for State Income Tax in Arizona, you made approximately $13,000 last year...
Arizona Income Tax Rates - Arizona & other state tax rates information. AZ tax calculator.

also, is this house Solar.. Electric in the summer in a 3000sf house for $300, is phenomenal.... my home is 2500sf, my bill is close to 550. but i keep it at 78 degrees.. my neighbor..2200sf.. keeps it at 75..had a 700. bill.. You can call Nevada Power and see what the bills were on the home that you are looking at ... i highly doubt 300.. unless they are on the budget plan (same every month).. if thats the case, my February bill was 75 bucks..

[WestieJeff]

Originally Posted by hubby's girl

The fees and property taxes are a shock to us. For a 320,000 house with country club frontage we paid 1800 a year in taxes and 300 every 6 months for HOA dues.

Not sure what to tell you there. Nevada's property taxes are some of the lowest in the country.

Originally Posted by hubby's girl

I don't know what to make of that area. On one side you see homes for 6 million and then a mile away are garbage heaps I wouldn't pay 10k for.

The area is mixed, like you stated. The problem I have with the area is that the surrounding stores/restaurants/etc are all pretty ghetto. The schools aren't very good either.

There are some bargain nice homes in the area and I have looked in that area too, specifically because we are looking for custom homes on large lots, but having lived near that area in the past, I ultimately decided to rule it out due to the fact the overall feel of the area is ghetto. It might be nice at your house, but when you go to the grocery store, you'll be interacting with all those folks who live in the 10k heaps down the street.

Also, that location will never appreciate to the same degree a nicer area will. You know the real estate saying, location, location, location.

Originally Posted by hubby's girl

I really love the house we found. It is big. Over 3000 sq ft on a half acre, but I heard the previous owner say the water bill in the summer was over $300! Can that even be possible? (We are only two of us). Then electricity ran around another $300. (That I expected). And the gardener charges 275 a month! Huh? I paid my guys 75 a month in phoenix and they came every two weeks! Our pool guy came once a week and we paid him 100 a month and I have heard quotes out here of 100 a week! Are these prices normal? At this point, we may be down to a one bedroom rental in downtown vegas.

A $300 water bill would be a lot. It can happen if you have A LOT of grass that you like to keep green. My water bill on 1/2 acre of desert landscaping with 2 of us and a pool runs about $30/mo.

Like airics said, $300 would be a super cheap electric bill in the summer. In my 2000sf house it runs over $400/mo in the summer.

You can get a pool guy for around $100/mo. Gardener I have no idea.

Originally Posted by hubby's girl

What can anyone tell me about that area? Is it falling apart or does it have a chance of coming back up? And that water bill? It does have a pool, but not a very big one.

It's my opinion that area is down and will be staying down for a long time. The real estate slide has only cemented the fact that down neighborhoods will stay down since price levels have fallen and middle income families who take care of their homes will be moving up to the nicer areas. Any gentrification will be on hold for a long time.

[hubby's girl]

Thanks for the info on the electric bills. I will try to find out. Do you think the power company will tell me? Boy...700...that would definitely take this out of my price range.

And, regarding Arizona state income taxes...you only pay tax on your net taxable amount, not your gross, and you get to deduct all medical bills, the price of health insurance, pharmacy bills, and a dozen other things all come off your gross before you pay a dime of state income taxes.

Trust me....this place is a whole heck of a lot higher cost of living. My car insurance is 30% higher...my health insurance is 50% higher. And the property taxes are at least double what they are in AZ. It is very hard to compare tax rates because they are based on some bizarre mix of figuring out what your house is worth and then a portion of that gets taxed.

I may not be able to buy a house out here at all. Those master planned fees are crushing my dreams of most of the neighborhoods I feel are safe. No wonder the housing market out here is so bad.

WestieJeff, I really appreciate your take on things. I might have to go shopping in the supermarkets around there in the middle of the night to get a good idea of what things would be like for me if I moved there. I so appreciate your candor. The last thing I want is tempered PC responses! I can't thank you enough for your honesty.

Seems like you want the same kind of home I do....nice lot...interesting design...custom home that might hopefully be made well...and not have to pay a million for it. Have you found any other areas to look in? What about Warm Springs and Valley View and there abouts? Nice lots over there. I have also been peeking around Lone Mountain. And then there is an interesting little area around Pebble and Bermuda. I keep finding little pockets around town. Have you checked into any of those areas?

Thank you for helping me! It has been very tough to do this all alone!!!

(Oh, and I am a desert rat. I keep the house around 78 - 80 in the summer and this house is a one story so I was hoping the bills would be a tad lower)

[PinkString]

hubbysgirl, if you go to those stores in the middle of the night, make sure you take your husband with you. I wouldn't recommend it though. Just go during the daytime and you can get a good feel for it.

[hubby's girl]

Thank you PinkString. I was planning on it, but it was very nice of you to suggest it too.

[cecnj]

This thread is an eye-opener. I've accepted a job in Summerlin, to start in August. (Hope that wasn't a mistake!) We are selling our New Jersey home and hope to buy in Summerlin. But reading this thread has me worried. It seems the more I read and research, the more confused I become. I've spoken with several LV realtors and have not gotten a positive feeling at all. The three I've spoken to were both vague and aggressive. So I'm back to researching on my own---for now.

So, here's a question for anyone who feels they honestly know and understand real estate in LV:

Assumptions--We can make a $110,000 to 120,000 cash down payment and would like monthly mortgage payments (with taxes and HOA included) of no more than $1000. We would like a 2 or 3 bedroom home, under 2,000 sf. A pool would be nice. We don't need or want anything fancy. Is it possible to buy a home in Summerlin (within Summerlin, not across the highway from or adjacent to) given these assumptions?

Honest, helpful responses appreciated.

[Exaday]

MY 3100 sq foot house has only once had an electric bill over a hundred. Why higher a gardener when I do that stuff myself?

For people who have much higher bills, your're doing something wrong. I am not saying they can't be that high.

275 a month for a gardener? No! lol

Don't fall in love with a house, always be willing to walk away.

[007 license to sell]

Originally Posted by cecnj

This thread is an eye-opener. I've accepted a job in Summerlin, to start in August. (Hope that wasn't a mistake!) We are selling our New Jersey home and hope to buy in Summerlin. But reading this thread has me worried. It seems the more I read and research, the more confused I become. I've spoken with several LV realtors and have not gotten a positive feeling at all. The three I've spoken to were both vague and aggressive. So I'm back to researching on my own---for now.

So, here's a question for anyone who feels they honestly know and understand real estate in LV:

Assumptions--We can make a $110,000 to 120,000 cash down payment and would like monthly mortgage payments (with taxes and HOA included) of no more than $1000. We would like a 2 or 3 bedroom home, under 2,000 sf. A pool would be nice. We don't need or want anything fancy. Is it possible to buy a home in Summerlin (within Summerlin, not across the highway from or adjacent to) given these assumptions?

Honest, helpful responses appreciated.

I posted this on another blog, this will give you an idea of what the average selling price is in the different master plan communities this should give you more of an idea of what area's are more affordable for you.

Here is some data to give you and idea of what the average selling price is for different master plan communities.

Top-selling master plans Community2010 resalesAverage priceAverage ageAverage lot sizeSummerlin2,651$314,40810.86,738Mountain's Edge1,182$208,3694.55,073Anthem998$309,4687.28,101 Southern Highlands956$264,6887.76,346Aliante819$188,5695.86 ,180Coronado Ranch721$204,9846.53,667Rhodes Ranch765$188,6076.84,136Silverado Ranch657$167,73010.44,914Eldorado421$150,16112.36, 356Green Valley432$218,16021.88,044The Lakes435$195,42523.16,223Spring Valley441$136,31129.56,170Spring Mountain Ranch433$158,1478.44,865
Source: Home Builders Research

[olecapt]

Originally Posted by cecnj

This thread is an eye-opener. I've accepted a job in Summerlin, to start in August. (Hope that wasn't a mistake!) We are selling our New Jersey home and hope to buy in Summerlin. But reading this thread has me worried. It seems the more I read and research, the more confused I become. I've spoken with several LV realtors and have not gotten a positive feeling at all. The three I've spoken to were both vague and aggressive. So I'm back to researching on my own---for now.

So, here's a question for anyone who feels they honestly know and understand real estate in LV:

Assumptions--We can make a $110,000 to 120,000 cash down payment and would like monthly mortgage payments (with taxes and HOA included) of no more than $1000. We would like a 2 or 3 bedroom home, under 2,000 sf. A pool would be nice. We don't need or want anything fancy. Is it possible to buy a home in Summerlin (within Summerlin, not across the highway from or adjacent to) given these assumptions?

Honest, helpful responses appreciated.

A 235,000 purchase will require a loan of $115,000 leading to a mortgage payment of about $617 @5%. Taxes would be $196 and the HOA $45. That would total $858 per month. There are 241 such homes for sale in Summerlin.

If you want a pool and no short sales there are 12. No short sales there are 104.

I don't see why you would have a problem.