[radraja]

I agree with olecapt...there are many great schools in Summerlin! If you're willing to consider these other schools, it may open up your options quite a bit.

[owelles]

Originally Posted by ScoopLV

But when you get down to it, it IS "only money." We paid way too much for our house because we bought in 2007. I knew the market was going to crash. (But I didn't expect it to get THIS bad.) The house has lost half its value in four years.

That's one way of looking at it.

The other way of looking at it is, "We've got a great house."

I'll ignore the bath we took on the place, because it will eventually bounce back. We need SOMEPLACE to live while we ride this depression out. It may as well be a nice place.

And when things do bounce back, we STILL have a nice place. There is more to "value" than just dollars and cents.

This post really hits home. We had some specific floor-plan needs and recently bought a brand new house that fit our requirements for more than $300,000, and we honestly aren't worried about the short-term value dropping, though I expect it will. We're in it for the long haul - hopefully at least 20 years - and expect to do just fine over that period.

In the meantime, we absolutely love our house.

[Scott456]

Originally Posted by cgarcia112

I actually agree if you are going to make it your home, and we made our highest and best.
The $$@&$ thing about the deal is, that we can afford the payments on WELL above that amount, just don't have anywhere near the needed down payment.
Also, with small kids and family here, we are reluctant to leave. But for us, what we value in a home is SOOO hard to find for under $$$$$$. Large lots, large home in nice area/ good of schools as you can get.

I work in Henderson so living in NW is a real difficult commute.

You don't have enough money to put down = You CAN NOT AFFORD that house.
Why are you trying to buy something you can not afford? Why are you crying over the lost of the bidding war that you can not afford anyway?
I can't believe after the RE bubble, there are people still maxing out their money on a house just because they love THE house.
You need to check with Suzie Orman now.

[cgarcia112]

Originally Posted by Scott456

You don't have enough money to put down = You CAN NOT AFFORD that house.
Why are you trying to buy something you can not afford? Why are you crying over the lost of the bidding war that you can not afford anyway?
I can't believe after the RE bubble, there are people still maxing out their money on a house just because they love THE house.
You need to check with Suzie Orman now.

Actually...
I will be nice since my situation is not at all typical.
I am a new physician and have plenty of monthly income, just not a lot saved (been working as a slave/resident for 3 years and school until that)

My wife and i have been students for ever and we want a house and we will find one with perseverance, and I don't believe one needs to, or SHOULD, shell out a crap load of cash into a home unless that's something they really want to do. I am ready to go with financing etc.

Cant I get 100K plus to get a home, sure. Am I going to, no. just a decision I have made. Will it make things harder, i guess. But people are doing it all around us, so we will wait for our time. We made a family choice that settling down in OUR OWN place is very important and that is what it is.

While that advice is likely a safe generalization, it is actually not true in my case...and to save being rather uncouth, I will leave it at that.

[von949]

Originally Posted by cgarcia112

Actually...
I will be nice since my situation is not at all typical.
I am a new physician and have plenty of monthly income, just not a lot saved (been working as a slave/resident for 3 years and school until that)

My wife and i have been students for ever and we want a house and we will find one with perseverance, and I don't believe one needs to, or SHOULD, shell out a crap load of cash into a home unless that's something they really want to do. I am ready to go with financing etc.

Cant I get 100K plus to get a home, sure. Am I going to, no. just a decision I have made. Will it make things harder, i guess. But people are doing it all around us, so we will wait for our time. We made a family choice that settling down in OUR OWN place is very important and that is what it is.

While that advice is likely a safe generalization, it is actually not true in my case...and to save being rather uncouth, I will leave it at that.

I understand your situation 100%. Plus I have never heard of a starving doctor. lol

Me and my wife chose not to cash in our stocks/bonds, empty savings, or liquidate assets(property) just for a down payment on a home. We would rather let them mature and cash in at a later date. If there is any way around not putting down a down payment on anything...why not??? That is more money in savings. There are tons of people out there that can afford payments but can not afford the 20% down.

For the past 12 years I have been paying about $800-1500 for rent all around the world. It seems obvious that I can afford a $830 mortgage now. If I maintained this price range for 12 years with gradual pay increases, doesnt it seem easy to do this for another 12? And if I can keep the 20% down payment in my pocket...why not??? May help out with a major issue with the house later down the line.

[von949]

Originally Posted by Scott456

You don't have enough money to put down = You CAN NOT AFFORD that house.
Why are you trying to buy something you can not afford? Why are you crying over the lost of the bidding war that you can not afford anyway?
I can't believe after the RE bubble, there are people still maxing out their money on a house just because they love THE house.
You need to check with Suzie Orman now.

She damn near denies everyone.

[SportyandMisty]

Originally Posted by ScoopLV

... I'd love to live in MacDonald Highlands. But the seven-figure prices are out of my reach...

It's those eight-figure prices that have me scratching my head.

[radraja]

Originally Posted by SportyandMisty

It's those eight-figure prices that have me scratching my head.

The high-rollers gotta live somewhere.

[airics]

Originally Posted by cgarcia112

I work in Henderson so living in NW is a real difficult commute.

I live near Aliante (NW), and work in Henderson... its not that bad.. 40 minutes

[Scott456]

Here is my advice. If you find a desirable property yourself, not by your realtor, you should buy it from the listing agent, and not through your buyer agent. This is especially true in a multiple offer situation. And no buyer agents will tell you this.