[BBMW]

Okay, yes , if you go to a near equivalent. I didn't get that from his post.

How are flippers doing in this market?

Originally Posted by airics

He's referring to a Vegas to Vegas purchase.... Not California to Vegas.... and he's correct... if you are in Vegas, and sell, you're getting less house for the same money... We looked into this... Figured we would sell our 3 floor for around 330 and get a 1 floor... it wasn't even close....

[lvmensch]

Originally Posted by airics

He's referring to a Vegas to Vegas purchase.... Not California to Vegas.... and he's correct... if you are in Vegas, and sell, you're getting less house for the same money... We looked into this... Figured we would sell our 3 floor for around 330 and get a 1 floor... it wasn't even close....

From a nice 2 story you would pay at least 10% more to get a single story. From a 3 story more than 15%.

That has alwsys been true. And if you went for 55+ it would be like 25%.

[MaryoVilla]

Originally Posted by bgrasser

You go guy!

Do it while your young, the years fly by when living your dream.

And you know to be honest, anyone can do it too, you just have to look around with an open mind and live a frugal lifestyle. Texas is the state I will be moving to, mind you, I have 3 young children but I believe bringing them up old school style is the best way to make them realize life is hard work, although they hate this concept lol. The main reason though is that we will be closer to wife's family and all the family in general. Nothing beats being close to family, not too close though..lol.

[MaryoVilla]

Originally Posted by airics

January is the wrong month to sell. According to Zillow, sell it early summer (may- July)

Ok, note taken. Thats actually perfect, right before the school year ends. Thank you.

[MaryoVilla]

Okay so just to lump up my replies:

I live in the Providence area.

It will be a Vegas to west Texas move. It's not really a downsize, its an upsize in fact but because it's such low cost area I'm able to do it even with little money.

I've done plenty of research on the area, the cost of living is really low, the lands/houses are cheap, the weather and terrain is kinda like Vegas (flat lands/desert), University of Texas is close by, the lifestyle is slow pace, most importantly, huge family/relatives close by...I think it meets everything we are looking for so thats why I'm moving.

As a note, custom home is around 109/sq ft.

[airics]

Originally Posted by MaryoVilla

Okay so just to lump up my replies:

I live in the Providence area.

It will be a Vegas to west Texas move. It's not really a downsize, its an upsize in fact but because the it's such low cost area I'm able to do it even with little money.

I've done plenty of research on the area, the cost of living is really low, the lands/houses are cheap, the weather and terrain is kinda like Vegas (flat lands/desert), University of Texas is close by, the lifestyle is slow pace, most importantly, huge family/relatives close by...I think it meets everything we are looking for so thats why I'm moving.

As a note, custom home is around 109/sq ft.

to save money on the move.... use upack.com if you are moving cars, use uship.com

so much cheaper than pods

[JonathanLB]

Originally Posted by NLVgal

Were you here for the crash?

Airics was correct, looking toward next year ideally. A portfolio of investments are selling hopefully this year and so I’m in the waiting game. Once that happens we are moving.

Though the Portland metro area is well more expensive than Vegas (median $420K versus $280K or whatever), we don’t really benefit from the disparity because we’re basically going from nice suburban home to the luxury end in Vegas so it’s not like it matters really that we’re coming from a more expensive market because we’re not buying a similar home.

My two aunts and two uncles have been in Vegas for at least 15 years, I think one set is at 17, the other 25 if I remember.

[airics]

Originally Posted by JonathanLB

Airics was correct, looking toward next year ideally. A portfolio of investments are selling hopefully this year and so I’m in the waiting game. Once that happens we are moving.

Though the Portland metro area is well more expensive than Vegas (median $420K versus $280K or whatever), we don’t really benefit from the disparity because we’re basically going from nice suburban home to the luxury end in Vegas so it’s not like it matters really that we’re coming from a more expensive market because we’re not buying a similar home.

My two aunts and two uncles have been in Vegas for at least 15 years, I think one set is at 17, the other 25 if I remember.

correct...
heres more of how I was figuring things...

lets say you were a buyer in 2011 at the crash....you bought a steal for 180k (maybe a 2500sf in a good area).... so today its worth (hypothetically) 350k... you want to sell..and stay in Vegas..

you are not going to get any "better" home because you sold when it was "inflated" and now are buying with those "inflated" dollars....

I will never understand why people are buying the new builds in the 300-400 range.. maybe its the "new home smell"

the backyards are horrifyingly small and you can touch (literally) the neighbors house..

I don't know the high end pricing and such, so this probably doesn't apply.

the only way to make the money, is to buy cheap (2011), sell now, and then move out of the area to an economical area...

I think it is a huge risk to buy a house in Vegas to flip....

[MaryoVilla]

Originally Posted by airics

correct...
heres more of how I was figuring things...

lets say you were a buyer in 2011 at the crash....you bought a steal for 180k (maybe a 2500sf in a good area).... so today its worth (hypothetically) 350k... you want to sell..and stay in Vegas..

you are not going to get any "better" home because you sold when it was "inflated" and now are buying with those "inflated" dollars....

I will never understand why people are buying the new builds in the 300-400 range.. maybe its the "new home smell"

the backyards are horrifyingly small and you can touch (literally) the neighbors house..

I don't know the high end pricing and such, so this probably doesn't apply.

the only way to make the money, is to buy cheap (2011), sell now, and then move out of the area to an economical area...

I think it is a huge risk to buy a house in Vegas to flip....

This I totally agree, spot on, I'm in this situation and the conditions are about right to sell and I'm not staying in Vegas. Sometimes things just lines up once in a blue moon. Thank you for the insight.

[airics]

Originally Posted by MaryoVilla

This I totally agree, spot on, I'm in this situation and the conditions are about right to sell and I'm not staying in Vegas. Sometimes things just lines up once in a blue moon. Thank you for the insight.

I'm doing exactly the same thing also.... our house that we sold in Vegas closes on the 25th..... we already bought the house in Florida for a steal..

I'm actually considering buying a second house as an investment there, just like a did here...

however, my rental house that I bought here was in 2006, absolutely the worst time (my luck)... it is getting very close to what I paid for it, so next year, that will be sold

the house that we live in, that we just sold, was bought in 2008 so we are definitely making some money on it.... The real estate agents that I interviewed at first, really low balled the house value... I passed on hiring them.... I went with Redfin..... The ones that I interviewed said 320ish..... I sold at full list (well almost $250 less) 384,500

When it sold (on the first day), once again I was told by the others, it will never appraise....it appraised at $386000. Granted, my house is like no other in the development... but I had the naysayers...

So go with your gut... when you are interviewing the potential realtors, if you are thinking that they are lowballing the value, go with your gut and walk away... and whatever you do... do not and I repeat, do not pay a 6% commission in this market.