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Old 03-05-2014, 09:42 AM
 
83 posts, read 266,455 times
Reputation: 55

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I've longed to move to the Henderson area for 3 years now. When I began my search 3 years ago, the real estate market seemed to be a buyers market. There were several homes for sale in my price range and I was hopeful that I would get to move out there someday. Now that I am closer to finishing grad school, and potentially moving, I am discouraged by all the posts about the housing market. It seems that if you do find a home on the market, it is snatched up by cash buyers. I do not have that much cash to just buy a home, and would have to do traditional financing, but now I'm worried that I'm wasting my time getting my hopes up for a move to NV. Is it impossible to buy a house in the LV/Henderson area? My budget is 130k, and I know that is not much, but I don't live extravagantly. Just need a home in a decent neighborhood. Am I just way outta the ballpark on this one and focus my attention somewhere else?
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Old 03-05-2014, 10:02 AM
 
Location: North Las Vegas NV
499 posts, read 1,060,478 times
Reputation: 327
Quote:
Originally Posted by mre0609 View Post
I've longed to move to the Henderson area for 3 years now. When I began my search 3 years ago, the real estate market seemed to be a buyers market. There were several homes for sale in my price range and I was hopeful that I would get to move out there someday. Now that I am closer to finishing grad school, and potentially moving, I am discouraged by all the posts about the housing market. It seems that if you do find a home on the market, it is snatched up by cash buyers. I do not have that much cash to just buy a home, and would have to do traditional financing, but now I'm worried that I'm wasting my time getting my hopes up for a move to NV. Is it impossible to buy a house in the LV/Henderson area? My budget is 130k, and I know that is not much, but I don't live extravagantly. Just need a home in a decent neighborhood. Am I just way outta the ballpark on this one and focus my attention somewhere else?
At your price range and decent neighborhood requirement in Henderson, the answer is yes. I'm afraid the ship has already left the pier.
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Old 03-05-2014, 10:05 AM
 
Location: Kissimmee
347 posts, read 512,537 times
Reputation: 508
Prices are way under where they should be and this year will be a continuation of last with large price rises. Expect a large influx of buyers from the northern states trying to escape the brutal winters.
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Old 03-05-2014, 10:21 AM
 
Location: Sunrise
10,864 posts, read 17,010,374 times
Reputation: 9084
Quote:
Originally Posted by mre0609 View Post
I've longed to move to the Henderson area for 3 years now. When I began my search 3 years ago, the real estate market seemed to be a buyers market. There were several homes for sale in my price range and I was hopeful that I would get to move out there someday. Now that I am closer to finishing grad school, and potentially moving, I am discouraged by all the posts about the housing market. It seems that if you do find a home on the market, it is snatched up by cash buyers. I do not have that much cash to just buy a home, and would have to do traditional financing, but now I'm worried that I'm wasting my time getting my hopes up for a move to NV. Is it impossible to buy a house in the LV/Henderson area? My budget is 130k, and I know that is not much, but I don't live extravagantly. Just need a home in a decent neighborhood. Am I just way outta the ballpark on this one and focus my attention somewhere else?
You can still find nice homes in the nice part of Sunrise Manor for around $130K. But even those are becoming scarce. Sunrise is still (and will probably always be) the best bang for the buck in the Las Vegas Valley. But it's not Henderson or Summerlin.

You can either: 1) Hope the economy crashes again; 2) invent a working time machine; or 3) Bite the bullet and buy a house anyway, because it beats renting.

If you really don't live extravagantly, then saving more for a larger down payment shouldn't be that big a deal.
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Old 03-05-2014, 10:31 AM
 
83 posts, read 266,455 times
Reputation: 55
I would have to sell my current home first, so I would hope to have around 30k down payment. I just don't want to get into bidding wars with buyers who have more of a down payment. Thanks for the info.
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Old 03-05-2014, 10:34 AM
 
Location: Sunrise
10,864 posts, read 17,010,374 times
Reputation: 9084
It's not that you get into bidding wars. Your offers simply aren't accepted. Don't fall in love with any particular house and keep putting offers in on houses until one is accepted. It's not like there is a heap of difference between one neighborhood and the next in this valley. (Guard gated communities with insanely-high HOA fees not withstanding. But you're not shopping for one of those.)
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Old 03-05-2014, 11:50 AM
 
Location: Here and there, you decide.
12,908 posts, read 28,021,628 times
Reputation: 5057
at 130, for a house? odds are stacked way against you....
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Old 03-05-2014, 12:23 PM
 
2,180 posts, read 4,541,402 times
Reputation: 1087
even though the ship has left the pier... you should still get into the market.

No secondary market inventory and no cash to buy outright... buy new.
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Old 03-05-2014, 12:41 PM
 
Location: Las Vegas, NV
553 posts, read 1,209,994 times
Reputation: 807
Are you limited to a single family residence; or would you also consider a condo? I am sure that condos are available in your price range. Some, however, are not eligible for financed purchases. We lived in Bella Vista for a short time and really enjoyed it there. The location is fantastic. It is directly across the street from the District. Almost certainly units in Bella Vista are in your price range.
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Old 03-05-2014, 02:00 PM
 
83 posts, read 266,455 times
Reputation: 55
I've never really considered a condo, mainly b/c condos in my current area doesn't have any, but I would consider a condo. I really like that the Bella Vista condos are gated. How much are typical HOA fees on condos out there?
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