[Coolcopacetic]

So I just purchased an existing remodeled home in Upper NW 89143 between Skye Canyon and Durango exits just below 210k sight unseen. 4Br, 3Ba, 2 car garage about 1600 sq ft. But the kicker is I paid full list price without any concessions or closing cost assistance, not to mention a refrigerator or washer/dryer which I've since shelled out an additional 5k for. Has HOA about $50 month, but no pool or gated community. I don't have buyers remorse as I like the neighborhood, area, schools, and feeeway access. Closed in beginning of June.

I'm questioning is the market really that hot at this price point where sellers are getting multiple full list offers on a regular? Looking for discussion and others to share their recent home buying experiences with zip, roundabout price, property type and description, HOA amenities, and if any seller concessions whether down payment or closing cost aaaostance etc.

[lvmensch]

Originally Posted by Coolcopacetic

So I just purchased an existing remodeled home in Upper NW 89143 between Skye Canyon and Durango exits just below 210k sight unseen. 4Br, 3Ba, 2 car garage about 1600 sq ft. But the kicker is I paid full list price without any concessions or closing cost assistance, not to mention a refrigerator or washer/dryer which I've since shelled out an additional 5k for. Has HOA about $50 month, but no pool or gated community. I don't have buyers remorse as I like the neighborhood, area, schools, and feeeway access. Closed in beginning of June.

I'm questioning is the market really that hot at this price point where sellers are getting multiple full list offers on a regular? Looking for discussion and others to share their recent home buying experiences with zip, roundabout price, property type and description, HOA amenities, and if any seller concessions whether down payment or closing cost aaaostance etc.

Spring Mountain Ranch? Going up like a house on fire. Almost $20 per SF every quarter. Virtually no inventory. You can likely sell out at a profit already. Those homes are up at the peak prices of the 2007/2008 era. And they have doubled or more since the bottom in 2012.

I would suspect it is close to the hottest tract in Vegas at the moment. Lots of good Summerlin is no where near the peak...maybe 75 or 80%.

Just did a quick check of new home tracts. The only one below $200k is a tract just above the Nellis gate. All the others start at $200K. There are homes listed for less but in Pahrump or Laughlin.

[SGtoLV]

I remember in 2011 and 2012 when homes in that zip code were selling for $70 per square foot...ah the good ol days.

[OmegaSupreme]

this thread should be merged with "current update on the real estate market"

[irisheyzs]

We just moved into a house in the 89183 Silverado Ranch area last month. Paid asking price of $269,000.00, appraised at $271,000.00 No concessions except $500.00 for repairs that were found in the inspection report. Still making repairs $2000.00 later. Came with all fairly new Maytag appliances and a home warranty. It is a nice area, and the house is perfect for us. Split level, 1600 sq, ft, beautiful pool/spa and close to everything we need and no HOA.

We put offers in on about 8 different houses in the Henderson/SE Vegas area for asking price and lost every one of them. One of them actually went $15,000.00 above asking price.

[soclose]

Don't rip yourself off when the housing market crashes.

[Camaro5]

Originally Posted by soclose

Don't rip yourself off when the housing market crashes.

What's that supposed to mean? The market, like the economy, goes up and down. Unless something catastrophic happens like the subprime mortgage crisis or a severe recession, nothing is going to crash like it did in 2007.

Prices are kind of high right now, but I'm seeing them being reduced since it's getting towards the end of the summer selling season. We have seven houses we're looking at. Prices are okay. They were less a few years ago, but if a person needs a place to live and doesn't want to rent, you just have to go with it.

It's different for an investor, and if that was my objective, maybe it isn't the best time to buy. But as someone looking to put a roof over my head for a good long while, it's a different story.

[foundapeanut]

3 years out, an agent told me a low end house, not in a good area will start at $300,000. Which is why all the apartments going up now. Thinking eventually the luxury ones will sell as condos. But you know what they say about opinions.

Every real estate agent in this town will tell you something different. I know one that will say the Summit is the hottest buy in town. Doesn't mean a thing, most can't or won't spend that on a house.

If the OP's happy that is the only important thing.

I can guarantee that house was a repo, was a ripped up mess before some flipper bought it, fixed it and sold it to you. Hope they did quality work on it.

[NaturalBowler]

How may thousands of homes are still bank owned in Vegas? I've heard over 5000. Hedge funds own some 10,000 as rentals. There is plenty of future slack, but the criminal organizations and central bankers did a great job artificially tightening the Vegas market. Kudos.

[Cold Warrior]

the criminal organizations and central bankers did a great job artificially tightening the Vegas market

Which criminal organizations would those be?