Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Nevada > Las Vegas
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 10-02-2013, 03:01 PM
 
10 posts, read 70,197 times
Reputation: 21

Advertisements

I appreciate folks here helping out!

Just 2 questions related to property in LV

1.I have a 1600 sqft SFR 3Br/2 .5Ba/2car/no pool @ Gomer and Durango 89178. I can either rent it or sell it. I am seeing 13 similar properties to rent in the area asking ~$1050. I am a first time landlord! Do you guys advise me to rent it or sell it? Even @1000/mth, I might comfortably cover my expenses.
The resale market is also slowing down. So not sure if I should rent and see how it goes? Or sell it ?

2.I also want to buy a property in summerlin (tad south of sahara @town center - 89135). Is a rate of $120/sqft good deal for a 10yo home with no pool in the ~2300sqft range/4BR/3Bath/2car? Is the market slowing and rates are coming down? Should I wait? Or are prices only going up through slowly by steadily?
Reply With Quote Quick reply to this message

 
Old 10-02-2013, 03:24 PM
 
390 posts, read 756,865 times
Reputation: 456
I think you should rent it out - giving you time to find a place you love. Renting it out for $50 less than the going rate gives you loads of people to pick that just right tenant. Think about a property manager to run credit and collect rent, factor in their fees plus all other fees, i.e. taxes insurance, THEN make a decision.

2. Who knows where the market is going.....you can guess as well as anyone..
Reply With Quote Quick reply to this message
 
Old 10-02-2013, 03:49 PM
 
Location: Las Vegas, Nevada, USA
280 posts, read 572,789 times
Reputation: 1215
I rent a home near Rainbow & Windmill (89139) and its a touch smaller @ 1527 sqft SFR 3Br/2 .5Ba/2car/no pool. Lot size is 3049sqft. I'm paying $1113 and other homes in the neighborhood are also renting right around $1100 ($1050-$1200 range) and don't seem to have any problems staying full.
Reply With Quote Quick reply to this message
 
Old 10-02-2013, 03:53 PM
 
Location: Paradise Palms, Las Vegas, Nevada
555 posts, read 1,260,398 times
Reputation: 712
Quote:
Originally Posted by Ravenx View Post
I appreciate folks here helping out!

Just 2 questions related to property in LV

1.I have a 1600 sqft SFR 3Br/2 .5Ba/2car/no pool @ Gomer and Durango 89178. I can either rent it or sell it. I am seeing 13 similar properties to rent in the area asking ~$1050. I am a first time landlord! Do you guys advise me to rent it or sell it? Even @1000/mth, I might comfortably cover my expenses.
The resale market is also slowing down. So not sure if I should rent and see how it goes? Or sell it ?

2.I also want to buy a property in summerlin (tad south of sahara @town center - 89135). Is a rate of $120/sqft good deal for a 10yo home with no pool in the ~2300sqft range/4BR/3Bath/2car? Is the market slowing and rates are coming down? Should I wait? Or are prices only going up through slowly by steadily?

IMO,rent the smaller house, plenty of renters so no problem there keeping the rent checks coming in.

Buy the Summerlin home, can never go wrong in Summerlin as far as homes go. Highly desirable area. Good price for it too
Reply With Quote Quick reply to this message
 
Old 10-02-2013, 04:13 PM
 
12,973 posts, read 15,822,396 times
Reputation: 5478
Pretty close to flat month to month - maybe up a percent or less. Sales off a bit from last month. Inventory up. Days on the market up. No big changes in anything.

Certainly calmed down from the exuberance early in the year.

So owners choice. It does not appear you will make a lot of money waiting a year...nor does it show any sign you will lose any.

Do a proper calculation of what you will receive as a return and use that to make a decision.
Reply With Quote Quick reply to this message
 
Old 10-02-2013, 06:19 PM
 
176 posts, read 264,776 times
Reputation: 164
Assuming that the property in Summerlin is in great condition, $120/sq ft would be a steal. For the listings on MLS right now, of the houses between 2000-2500 sq ft in zip code 89135, the lowest $/sq ft among active listings I see is $126/sq ft.

Sale records for 2000-2500 sq ft houses sold in zip code 89135 are:

The past 3 months: $142/sq ft
The past 1 month: $154/sq ft
Reply With Quote Quick reply to this message
 
Old 10-02-2013, 09:07 PM
 
15 posts, read 45,265 times
Reputation: 15
Speaking of Summerlin, I found some really cheap condos there. I was really surprised because I kept hearing what a nice neighborhood it was. I didn't think I would find anything this cheap. One of them was right across from an Albertson's shopping center as well.

The only downside is when I open the crime map it was terrible. Crime after crime in those areas. Mostly burglaries. I just wonder for past and present Summerlin dwellers, how bad is it really and are there any areas I should watch out for?

I just don't want to spend the day looking around or at a casino to come back and see my door got kicked in and my stuff is gone.
Reply With Quote Quick reply to this message
 
Old 10-02-2013, 11:43 PM
 
12,973 posts, read 15,822,396 times
Reputation: 5478
Quote:
Originally Posted by Perdition View Post
Speaking of Summerlin, I found some really cheap condos there. I was really surprised because I kept hearing what a nice neighborhood it was. I didn't think I would find anything this cheap. One of them was right across from an Albertson's shopping center as well.

The only downside is when I open the crime map it was terrible. Crime after crime in those areas. Mostly burglaries. I just wonder for past and present Summerlin dwellers, how bad is it really and are there any areas I should watch out for?

I just don't want to spend the day looking around or at a casino to come back and see my door got kicked in and my stuff is gone.
Sorry? You probably don't know where Summerlin actually is. The only Summerlin Albertsons are the two in 89135. There are 2 total condos for sale in 89135 and the cheapest is $100 psf. The going rate is around $125.

Sahara and Fort Apache is not in Summerlin.
Reply With Quote Quick reply to this message
 
Old 10-03-2013, 04:37 AM
 
176 posts, read 264,776 times
Reputation: 164
Quote:
Originally Posted by Perdition View Post
Speaking of Summerlin, I found some really cheap condos there. I was really surprised because I kept hearing what a nice neighborhood it was. I didn't think I would find anything this cheap. One of them was right across from an Albertson's shopping center as well.

The only downside is when I open the crime map it was terrible. Crime after crime in those areas. Mostly burglaries. I just wonder for past and present Summerlin dwellers, how bad is it really and are there any areas I should watch out for?

I just don't want to spend the day looking around or at a casino to come back and see my door got kicked in and my stuff is gone.
Doesn't sound like these condos are actually in Summerlin. Keep in mind that there's quite a big difference in quality of neighborhood between neighborhoods actually inside Summerlin and neighborhoods adjacent to Summerlin in some areas. The Pueblo village is a good example of this. I wouldn't say the neighborhoods outside of Pueblo is terrible but the difference between inside Pueblo and directly outside of it is very noticeable. This is one of the oldest Summerlin neighborhoods but it's been well maintained. The surrounding neighborhoods however, not as much.

Nearly all of Summerlin would be in 4 zip codes. 89134, 89144, 89138, 89135. All properties in these zip codes would be Summerlin and these 4 zip codes would make up over 95% of Summerlin.

Other than those 4 zip codes, the remaining parts of Summerlin would be a very small section of 89128 (Pueblo) and an even smaller section of 89145.

Last edited by FrostyToasty; 10-03-2013 at 05:37 AM..
Reply With Quote Quick reply to this message
 
Old 10-03-2013, 07:52 AM
 
Location: Camarillo
932 posts, read 2,350,609 times
Reputation: 992
Quote:
Originally Posted by lvoc View Post
The only Summerlin Albertsons are the two in 89135.
There is one in 89138, in the shopping center at Charleston and Desert Foothills. That's definitely Summerlin.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2022 data
Loading data...

123
Hide US histogram

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Nevada > Las Vegas
Similar Threads
View detailed profiles of:

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top