[AdvancedI]

Hey guys. I was taking a look at websites where they sell houses in Las Vegas. I typed out Summerlin because i know that is a pretty good and safe area to live in Las Vegas from what i read. I"m from New york city and most houses here are very expensive. If you buy a house in queens/brooklyn, it will cost at least $500,000 for a 1 family home that is in a nice area.

I checked out some houses online in Summerlin, Las Vegas and i am shocked. A lot of the pictures of the homes look really nice and most of these homes cost like $200,000 only and they have like 3 bedrooms and 3 bathrooms. I know housing in NYC is the most expensive but how come housing in las vegas is SO MUCH CHEAPER? I just couldn't believe my eyes how good these homes look from the picture and many of these homes are like 1/2 the cost of a home in NY and it wouldn't even look even close as good as the ones in las vegas.

Can someone explain why this is so? I browsed and saw so many houses in Summerlin, Las Vegas and many of these homes cost between $150,000-$300,000 and they look so beautiful. I think if you want to buy a house like this in NY that look close to that would probably cost at least $700,000. And is it me or do the outside of the houses in Summerlin, Las Vegas really look nice? I see most of these real good looking houses has a nice garage and even the inside looks just so amazing.

[MomMom]

Originally Posted by AdvancedI

Hey guys. I was taking a look at websites where they sell houses in Las Vegas. I typed out Summerlin because i know that is a pretty good and safe area to live in Las Vegas from what i read. I"m from New york city and most houses here are very expensive. If you buy a house in queens/brooklyn, it will cost at least $500,000 for a 1 family home that is in a nice area.

I checked out some houses online in Summerlin, Las Vegas and i am shocked. A lot of the pictures of the homes look really nice and most of these homes cost like $200,000 only and they have like 3 bedrooms and 3 bathrooms. I know housing in NYC is the most expensive but how come housing in las vegas is SO MUCH CHEAPER? I just couldn't believe my eyes how good these homes look from the picture and many of these homes are like 1/2 the cost of a home in NY and it wouldn't even look even close as good as the ones in las vegas.Can someone explain why this is so? I browsed and saw so many houses in Summerlin, Las Vegas and many of these homes cost between $150,000-$300,000 and they look so beautiful. I think if you want to buy a house like this in NY that look close to that would probably cost at least $700,000. And is it me or do the outside of the houses in Summerlin, Las Vegas really look nice? I see most of these real good looking houses has a nice garage and even the inside looks just so amazing.

Yes, that's one of the perks of buying a home in Las Vegas. Prices are way down due to the vast number of foreclosures. Maybe that $200,000 beautiful home you saw online was bought in 2005 for $425,000 or even more.

Also, be aware that a 3/3 in a highly desirable area/neighborhood, and is a more pristine, clean, well maintained home with all the bells and whistles still intact probably will have an offer or two or three on them. Those are the ones that go fast and it takes a while nowadays (sometimes months) to go through the closing process, especially if it's a short sale.

Keep looking friend, take a trip here, you'll like what you see, but you won't know till you see it in person. Good Luck!...

[airics]

the prices are so cheap because they do not include the "nobody has a job so we need your money" tax.... you add 125% to the price of the home, and if you are from the midwest, you deduct 5% from the total for the "we like you discount"

[tortoise]

Originally Posted by AdvancedI

Can someone explain why this is so?

Why can't you take the initiative to research at least a few pages of forum topics?

[philmason]

What a home looks like is only a piece of its total cost. The land value here is substantially lower than anything in NY.

Beyond that, there are issues right now with the job market, and supply and demand. (There is too much supply).

Are you looking to move to Las Vegas?

[Scott456]

Originally Posted by philmason

What a home looks like is only a piece of its total cost. The land value here is substantially lower than anything in NY.

Beyond that, there are issues right now with the job market, and supply and demand. (There is too much supply).

And the level of income in LV.

[Vegas Joe]

Most people in New York City work on Wall St and make over $100,000 or more. Most people here don't make that much if anything.

[MSchu]

dont be fooled by many of those pictures you see... a lot of that stuff is either trashed or of really low build quality. due diligence please

[vegaslocal55]

Originally Posted by tortoise

Why can't you take the initiative to research at least a few pages of forum topics?

You get a rep from me for that answer, tortoise. I can't believe how many people are answering this guy with points that've been made 100s of times in this forum the last few years....

[vegaslocal55]

Another entry into my "First Post Hall of Fame" file.