[rpachigo]

Originally Posted by Rebecca40

If we bought, we would be looking in the $250-325K range - not looking for luxury, but want a 3-4 bedroom home in a good school district with a larger yard so we can have some space for our dogs, a pool, and a non-nazi-ish HOA. I'm just afraid we won't find that in a rental because we have kids, dogs, and cats. We had even thought about looking at one of the older horse properties in the NW, but are afraid it might not re-sell well. We just want a decent place to live with some elbow room and the ability to sell in 3 years and not lose any more money than we would by renting. I guess that may not be a reasonable expectation - we'll see how thing are in a few months when we're ready to find a house I guess. Thanks for the input everyone.

Here's a few random rentals with your specs:
4 Bedroom with Huge Yard (http://lasvegas.craigslist.org/apa/991839406.html - broken link)
Like new 4 bedroom house. Tile and Hardwood throughout (http://lasvegas.craigslist.org/apa/991984379.html - broken link)
HUGE 4 BEDROOM IN THE NORTH (http://lasvegas.craigslist.org/apa/991786823.html - broken link)
2 STORY 2GARAGE 1900SQFT. IN S.W. GRANITE CLOSE TO SHOPPING AND PARK (http://lasvegas.craigslist.org/apa/991743061.html - broken link)
See Pics 180 MIRADOR ST (http://lasvegas.craigslist.org/apa/991640293.html - broken link)

That took all of two seconds to find these rentals - much better than throwing your money away owning.

And here's what Moody's has to say about prices in Vegas next year. They might be a little more informed than our esteemed Olecapt. No disrespect of course. And realize they have been more bullish than many the past two years. This is eye-opening:

"In Las Vegas, where speculation moved out of the casinos and into the property market, prices have another 43% to lose, according to Moody's."

America's 25 Weakest Housing Markets - Forbes.com

[olecapt]

Originally Posted by rpachigo

That took all of two seconds to find these rentals - much better than throwing your money away owning.

Yup.. I believe two seconds. And it takes less than that to suggest that one is close to an area where you may have to duck for serious reasons.

And here's what Moody's has to say about prices in Vegas next year. They might be a little more informed than our esteemed Olecapt. No disrespect of course. And realize they have been more bullish than many the past two years. This is eye-opening:

"In Las Vegas, where speculation moved out of the casinos and into the property market, prices have another 43% to lose, according to Moody's."

America's 25 Weakest Housing Markets - Forbes.com

I know vastly more about Las Vegas than does Moody's. And if you don't understand why that is you should not be offering opinions on this sort of net.

And no we are not going to see another 43% down in Las Vegas....not even if the US economy collapses.

[rpachigo]

Originally Posted by olecapt

Yup.. I believe two seconds. And it takes less than that to suggest that one is close to an area where you may have to duck for serious reasons.



I know vastly more about Las Vegas than does Moody's. And if you don't understand why that is you should not be offering opinions on this sort of net.

And no we are not going to see another 43% down in Las Vegas....not even if the US economy collapses.

You're getting defensive again. I merely point out a reputable source but I'm sure you know vastly more about Las Vegas than does Moody's. How could I possibly think otherwise. My bad.

[olecapt]

Originally Posted by rpachigo

You're getting defensive again. I merely point out a reputable source but I'm sure you know vastly more about Las Vegas than does Moody's. How could I possibly think otherwise. My bad.

Maybe there is hope for you...

[rpachigo]

Originally Posted by olecapt

Maybe there is hope for you...

I'll be ready with your humble pie in 6 months time. Again, never trust realtards. Oops, that slipped out. Back to deference.

[Daddys///M3]

Originally Posted by rpachigo

Here's a few random rentals with your specs:
4 Bedroom with Huge Yard (http://lasvegas.craigslist.org/apa/991839406.html - broken link)
Like new 4 bedroom house. Tile and Hardwood throughout (http://lasvegas.craigslist.org/apa/991984379.html - broken link)
HUGE 4 BEDROOM IN THE NORTH (http://lasvegas.craigslist.org/apa/991786823.html - broken link)
2 STORY 2GARAGE 1900SQFT. IN S.W. GRANITE CLOSE TO SHOPPING AND PARK (http://lasvegas.craigslist.org/apa/991743061.html - broken link)
See Pics 180 MIRADOR ST (http://lasvegas.craigslist.org/apa/991640293.html - broken link)

That took all of two seconds to find these rentals - much better than throwing your money away owning.

And here's what Moody's has to say about prices in Vegas next year. They might be a little more informed than our esteemed Olecapt. No disrespect of course. And realize they have been more bullish than many the past two years. This is eye-opening:

"In Las Vegas, where speculation moved out of the casinos and into the property market, prices have another 43% to lose, according to Moody's."

America's 25 Weakest Housing Markets - Forbes.com

If the rental properties you listed above were to sell for $100 a sq ft, the first one, considering 100% financing for simplicity even though it does not exist aside from VA loans, at a loan amount of $265000 and a rate of 5% the principal and interest payment would be I will admit would be cheaper to rent than own but not by much when you factor in the tax deductions. The principal and interest payment would be just over $1400 a months, so about $1700 a month including taxes and insurance. I can't help but concede that (see, I am objective). However the second one would be much cheaper to own than rent. The P&I payment would be 939.44, so expect the monthly outlay to be around $1200-$1250, dependent on tax and insurance. After tax benefit would only add to that. The third one is on Alexander and Commerce, not exactly where I would want to raise my kid and certainly not the school I would want my child to attend. The other 2 have no rent price listed, so I cannot comment. Keep in mind that many bank owned homes are selling for less than $100 a ft currently.


So again, one size does not fit all. I personally would rather own than rent, even if I am losing some perceived value. Of course I am not asking about a 2-3 year timeline either which does complicate things. That being said I cannot believe that we are going down another 43%, that is ridiculous. Median right now is at just over $170K I believe. I think that you would have to be nuts to believe that the median will get down to $85K. Barring Great Depression 2.0, it's not gonna happen. Another point where olecapt and I have differing opinions. I do believe that an economic collapse would absolutely destroy housing out here and everywhere else. Oh sure, someone would end up buying all that property which I suppose is why the rich keep getting richer.

[Daddys///M3]

Originally Posted by rpachigo

I'll be ready with your humble pie in 6 months time. Again, never trust realtards. Oops, that slipped out. Back to deference.

Uncalled for, and makes your bias and agenda transparent.

[jfkIII]

Originally Posted by rpachigo

You're getting defensive again. I merely point out a reputable source but I'm sure you know vastly more about Las Vegas than does Moody's. How could I possibly think otherwise. My bad.

As noted in the Forbes article, they based their LV analysis on Zillow.

Zillow.com is not reputable source.

[jfkIII]

Originally Posted by rpachigo

I'll be ready with your humble pie in 6 months time. Again, never trust realtards. Oops, that slipped out. Back to deference.

So sense in bucking olecapt. Many before you have tried...and failed. On this board (and to its posters) his advice is well respected and appreciated.

[airics]

gee zillow still says my 252k house in vegas is still worth 400k.. love it... (that's the kind of source zillow is) And my house in cleveland my house is worth 120k (there hasnt been a house sold on my street in the last 10 years for that amount...

anyway... if i remember, a few months back i think forbes recorded vegas as one of the quickest to recover.. (it may have been money magazine also, can't remember)

funny thing, according to the mls results, the house i bought in february here at 252k is still the cheapest sold and the only one which went under list (asked 259).. all the others sold for 10-30k over list.. and mine is bigger... hmm must have been the putting green in the backyard that drove them away..

in all seriousness, ignore the posters that aren't from las vegas.. all they can do is go by what the media says.... and also.. isn't the economy tanked everywhere?