Las Vegas Real Estate Market is Heading to a Buyer's Market in 2014

Quote

Originally posted by: snidely333
does the Vegas area have any of those 1000+ home 55+ communities with golf course and pool?


Yes there are several communities that offer this. Here is a link to 32 single family homes that match that criteria (if you give me more search criteria I can narrow it down for you): CLICK HERE to see the matching homes

If you would like more info on any of these 32 homes or if you have any further questions, please let me know.
Quote

Originally posted by: DonDiego
Quote

Originally posted by: snidely333
does the Vegas area have any of those 1000+ home 55+ communities with golf course and pool?
DonDiego isn't certain if it meets the 1000+ home threshold, but Del Webb's Solera at Stallion Mountain offers a pool, golf course, tennis courts, fitness center, and - judging by the GoogleMap - bocce ball courts. If DonDiego lived there he'd immediately replace the bocce ball courts with cornhole courts.


This community is on the eastside of town by Sam's Town. If you buy in this community I recommend going with a resale and NOT a "New" build. When the market softens the resales will maintain their value better. For instance if you buy a resale home for $300k and let's say that same home brand new would be $320k (most likely a little more than this). Now let's say the market softens next year. And the new resale value of your home is $280k. In this example the person who bought the resale for $300k would be negative $20k. The person who bought the new home would be negative $40k because their "New" build home is now a resale worth $280k. If you are going to buy according to this example you would want to make sure you buy a resale for a maximum of $280k so you are not negative next year. (This is just a rough example to show why I would NOT buy a new home right now.) People that are buying for top dollar right now will be hurting this time next year.

Quote

Originally posted by: DRich2
Does a real estate agent ever say it is a bad time to buy? That would surely impact their commissions.

I would like the real estate agent to tell me that it is such a good time to buy that if in two or three years they would buy the house back from me for the price I paid if it is underwater. Personally, I think real estate agents will say anything (not unlike many sales people), they will do or say anything to make a sale.


I can understand why you think this but I can assure you that not all agents are the same. I generate majority of my business from referrals and repeat business. If my clients do not make money they will not refer anyone to me. If it is not the time to buy then I tell people they should be patient and wait or only buy if the proper deal presents itself. The market is constantly changing and it is very important to either be in tune with the trends or hire someone that can keep an eye on these trends for you. This is where I like to think I come in. My article's main point was to warn people about paying top dollar for homes and banking on high appreciate rates. Last year you could use that formula and it paid. But a lot of people are not realizing that the market is shifting so I am trying to spread the word.

Quote

Originally posted by: Roulette Man
When driving into Vegas, on the outskirts of the city you see housing tracts where many of the houses are duplexes that share a common wall and most of them are spaced no more than 10 to 15 feet apart. They are all painted the same color. They all appear to have tiny back yards. None of them have any front yards. I call them "cookie cutter" houses. I think the builders use the minimal quality building materials, including formica counter tops, cheap prefabricated cabinetry, and cheap appliances.

To me these are nothing more than the equivalent of an apartment, except you own them instead of renting them.

Are builders still building these kind of homes or are they looking to cater to upper middle class and build something a little different?


The age restricted communities are "tract" homes which means they have several models to choose from but then they build hundreds if not thousands of them. So in that regard they are "cookie cutter" looking. In regards to lot sizes and upgrades you can pick from basic appliances, counter tops, flooring, fixtures etc, or you can go with high-end everything. If you are going with a resale you just need to find a homeowner that has already picked the larger lot and/or upgrades that you desire. Some of the neighborhoods have some plumbing issues but in that case there is money set aside from a class action suit to repair the items. You can look this up prior to purchasing the home to see whether the repairs have been made or not yet.

If tract homes are not for you then there are lots of custom home communities in Vegas and Henderson but chances are they will not be age restrict nor offer the amenities of an age restricted community.

Quote

Originally posted by: LVrealestateHELP
Supply Side of the Las Vegas Real Estate Market
I love these guys who want to help us make money buy buying stuff from them.



If Vegas is becoming a buyer's market, just go buy a bunch of homes and make your fortune that way. You don't need to turn this website into your personal advertising zone.

Just borrow a bunch of money, flip some homes, and live on a beach somewhere!

(Unless of course you don't really believe what you're telling us.)
I'm fine with a track home. I'm more interested in the community. The Villages in Florida really appeals to me but my wife wants the southwest instead of the south or southeast. A place were you can use a golf cart as transportation is ideal. Golf cart to the grocery store, restaurants, gym, club house, golf course, bingo night, etc. I'm ready now but realistically, it will be another 7 to 12 years until I can retire.
Quote

Originally posted by: Chilcoot
Quote

Originally posted by: LVrealestateHELP
Supply Side of the Las Vegas Real Estate Market
I love these guys who want to help us make money buy buying stuff from them.



If Vegas is becoming a buyer's market, just go buy a bunch of homes and make your fortune that way. You don't need to turn this website into your personal advertising zone.

Just borrow a bunch of money, flip some homes, and live on a beach somewhere!

(Unless of course you don't really believe what you're telling us.)


I do follow my own advice. I don't need to borrow money, and I do flip houses...lots of them. But thanks for the condescending post your character is showing through!

Tract home. The developer buys a tract of land, subdivides it, and builds similar homes on it.

Quote

Originally posted by: snidely333
I'm fine with a track home. I'm more interested in the community. The Villages in Florida really appeals to me but my wife wants the southwest instead of the south or southeast. A place were you can use a golf cart as transportation is ideal. Golf cart to the grocery store, restaurants, gym, club house, golf course, bingo night, etc. I'm ready now but realistically, it will be another 7 to 12 years until I can retire.


My dad lives in a Sun City community here in Vegas and does just that. He drives his golf cart everywhere...lol...Living the good retired life! If you ever need my assistance please let me know I would be happy to help.
Great commentary Robert. If'n I were in the market for a place in LV at the moment, I wouldn't hesitate to give you a shout and who knows, the future may hold a different story than the plan right now.

JOHN
Already a LVA subscriber?
To continue reading, choose an option below:
Diamond Membership
$3 per month
Unlimited access to LVA website
Exclusive subscriber-only content
Limited Member Rewards Online
Join Now
or
Platinum Membership
$50 per year
Unlimited access to LVA website
Exclusive subscriber-only content
Exclusive Member Rewards Book
Join Now