7 replies to this topic

[Dogchew]

I am interested in buying a condo/townhouse in Las Vegas for when my husband and I retire. The market seems at a great time to buy. I am not interested in the condos on the strip as they are way too expensive for so little room. What area of Las Vegas that is a short distance to the strip (maybe 10 min or so) would be the best? Name a town area and if its n,s,e,or west. I am willing to pay up to 350K. What are the nicest areas? Up and coming and so on.

[grocery_mony]

I have been watching the LV market aswell. Right now 350k will buy you alot. iheard of brand new condos in the summerlin area for about 120k. Houses are even more of a value right now. I have seen 5 year old houses 4000 sqf for 350k and under. Just google las vegas real estate and there a lot of good sites that come up.

[aadams_22]

Personally I would wait. The housing slump is far from over, and there will be numerous foreclosures come next summer. Then might be the best time to buy a home.

[AKS]

I think you should wait about a year as Las Vegas has been way overbuilt in regards to real estate and it is now starting to sink in. The prices are dropping all over town. In another 8-12 months or so you should be able to get some really good deals. (Vegas resident here waiting another 12 months or so to pick up a house)

[grocery_mony]

Personally I would wait. The housing slump is far from over, and there will be numerous foreclosures come next summer. Then might be the best time to buy a home.

This is a good theory on the housing market in the US as a whole but things in Vegas might pick up a little sooner. There are 3 new major resorts opening in the next year or so(Pallazzo, Encore, Cosmopolitan). That a whole lot of new jobs for the city. And construction will still be strong with City Centre, Echelon Place and other projects. Very few get timing in the real estate market exactly right and they are usually just lucky. If you find a smokin deal in the next 6 months that you can easily live with I see no problem with taking it. The Vegas housing market started slipping sooner and faster than everywhere else so I think it will pick up sooner than everywhere else.

[dreamcrusher28]

Wow!! I hope what you're all saying is true because I plan on selling my condo and moving to Vegas in about a year and a half. Usually good timing and me don't see eye to eye.

[Flushgarden]

I wish I were in the market to buy right now. Instead I'm stuck with a mortgage that is for more than my house is worth right now.

[CBass1724]

I wish I were in the market to buy right now. Instead I'm stuck with a mortgage that is for more than my house is worth right now.

Sounds like my situation.