Las Vegas and Nevada pharmacists and students

Started by StaviZFingerZ
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StaviZFingerZ

StaviZFingerZ

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I know the real estate tanked. Big time. And there are bargains to be had. But what are you hearing? Where would be a good place to live or have a house/condo?

Here is listing near Lake Las Vegas in Henderson.

http://www.realtor.com/realestateandhomes-detail/Henderson_NV_89011_1107868938

How far is this from the strip? Where are the areas to avoid? I've seen condos for $20,000... $100,000 gets a nice one near the strip in a highrise.

If you're a USN student, where do you live and where do most students live? What's the rent like?

Hurry back with a response. :meanie:

TIA.
 
StaviZFingerZ said:
I know the real estate tanked. Big time. And there are bargains to be had. But what are you hearing? Where would be a good place to live or have a house/condo?

Here is listing near Lake Las Vegas in Henderson.

http://www.realtor.com/realestateandhomes-detail/Henderson_NV_89011_1107868938

How far is this from the strip? Where are the areas to avoid? I've seen condos for $20,000... $100,000 gets a nice one near the strip in a highrise.

If you're a USN student, where do you live and where do most students live? What's the rent like?

Hurry back with a response. :meanie:

TIA.
Click to expand...

Just go to craigslist... and see what the market is.
 
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I've found lots of houses for $15K where I'm going... of course some of them are boarded up, but not all!
 
SpirivaSunrise said:
Dude...Vegas gets really old after like two or three days. I can't even imagine buying a condo there and going that often..
Click to expand...


No..the strip and pharmacy convention get really old after 2 to 3 days. There's more to do there...I think. But not even that... will Vegas real estate eventually rise? If so, then it would make for a decent investment.
 
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StaviZFingerZ said:
No..the strip and pharmacy convention get really old after 2 to 3 days. There's more to do there...I think. But not even that... will Vegas real estate eventually rise? If so, then it would make for a decent investment.
Click to expand...

I know where you're coming from, looks like average home there tanked from $317K to $182K from 2006-2009....jeez.

But they built soooooo many condos there, and they still keep popping up. I'd imagine it's going to take you a while to see a decent ROI.


Oh...and I've been there with friends outside of pharmacy convention trips. And it still got old!!
 
Its a possible investment....but as for living there....not too sure about that.

With that price for condos, who knows who your neighbors are...
 
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StaviZFingerZ said:
No..the strip and pharmacy convention get really old after 2 to 3 days. There's more to do there...I think. But not even that... will Vegas real estate eventually rise? If so, then it would make for a decent investment.
Click to expand...

I would bet against the market there. The market was bad back then. I can only imagine it getting worst as the state depends a lot on gambling revenues. With a lot of new casino/hotel projects going dry and gambling down in the recession, they are going to have a hard time funding their schools, police, etc since they dont tax their citizens much. This will only decrease QOL. If they tax their citizens, that will further depess real estate values.
 
SpirivaSunrise said:
I know where you're coming from, looks like average home there tanked from $317K to $182K from 2006-2009....jeez.
!!
Click to expand...

Arizona housing market is pretty much the same. I am looking at a house that sold for 430000, 2 years ago and now is on the market for 220000. You have to remember that the prices two years ago were inflated and should have never been that high in the first place. So you think your getting a great deal but you can't think that because prices will not rise that high again for at least 15-20 years if they ever reach that high again.

That condo you showed a link to looks like an apartment conversion. I would never buy one of those. They are built very poorly and all they did was put in some granite counter tops. Hearing you neighbor whisper and the cat walk across the floor above you is not worth any amount of money.

I would guess vegas is saturated just like every where else. Living in Vegas is not a new idea, so many people moved there in the last 10 years that I am sure there are plenty of pharmacists moved there too. Many probably are working to support their gambling addictions.

There is a new development called city center on the strip. Many different condo high rises and hotels. There is a sales office in many of the casinos on the strip. I stopped in one about a month ago. To get a 500sqft studio on a low floor with no view the minimum price is 500,000. Not to mention there is probably a home owner associtation or concierge fee that is definitely over 1000 per month. A lot of these resort living condos popped up within the last few years and you would think they would be somewhat affordable now... but not the case.

A lot of the awesome deals are gone in AZ. Most have been vacuumed up by investors. Whats left is the destroyed termite infested homes that nobody wants. Anytime a new foreclosed home comes on the market that is in decent shape, it turns into a biddining war with multiple offers and they go for way more than asking price. Its crazy out here and usually the vegas market is very similar to phoenix.
 
If ya got a question re: a specific area/cross street - shoot a PM.

<---- Born and raised there x 18 years
 
museabuse said:
Arizona housing market is pretty much the same. I am looking at a house that sold for 430000, 2 years ago and now is on the market for 220000. You have to remember that the prices two years ago were inflated and should have never been that high in the first place. So you think your getting a great deal but you can't think that because prices will not rise that high again for at least 15-20 years if they ever reach that high again.

That condo you showed a link to looks like an apartment conversion. I would never buy one of those. They are built very poorly and all they did was put in some granite counter tops. Hearing you neighbor whisper and the cat walk across the floor above you is not worth any amount of money.

I would guess vegas is saturated just like every where else. Living in Vegas is not a new idea, so many people moved there in the last 10 years that I am sure there are plenty of pharmacists moved there too. Many probably are working to support their gambling addictions.

There is a new development called city center on the strip. Many different condo high rises and hotels. There is a sales office in many of the casinos on the strip. I stopped in one about a month ago. To get a 500sqft studio on a low floor with no view the minimum price is 500,000. Not to mention there is probably a home owner associtation or concierge fee that is definitely over 1000 per month. A lot of these resort living condos popped up within the last few years and you would think they would be somewhat affordable now... but not the case.

A lot of the awesome deals are gone in AZ. Most have been vacuumed up by investors. Whats left is the destroyed termite infested homes that nobody wants. Anytime a new foreclosed home comes on the market that is in decent shape, it turns into a biddining war with multiple offers and they go for way more than asking price. Its crazy out here and usually the vegas market is very similar to phoenix.
Click to expand...


Not looking for a place to live nor rent it out. Something to hold and use a few times a year for family and friends. The listing I posted is not an apt conversion, rather it's the Montelago hotel with HOA of $270. It's little too small for me though I don't mind the Lake Las Vegas area. That area is going thru some financial troubles so I don't know.

LV is also seeing bidding wars for the foreclosures and I know Real Estate folks would like to use that as a marketing tool to invoke investor's emotions but I'm not in a hurry and I'm still in a research phase.

I like Phoenix and Scottsdale area. But it certainly doesn't have the worldwide appeal of Las Vegas. It doesn't mean it's not a bad area to invest in.

And I don't gamble. So no worries there.... :meanie:
 
StaviZFingerZ said:
Looking at Lake Las Vegas, Summerlin, and Henderson-Green Valley area. What you know?
Click to expand...

http://www.trulia.com/real_estate/Las_Vegas-Nevada/

Lake Las Vegas - Newest out of the three you listed - condo city here - newest (but not considered best) golf courses. Expensive as hell even post-bubble and really riding on the success of golf + Ritz
http://www.trulia.com/real_estate/Lake_Las_Vegas-Henderson/4890/

Summerlin - fully developed, and one of the first areas to get slammed by the bubble popping - not too much new development going on - verrrry suburbia
http://www.trulia.com/real_estate/Summerlin-Las_Vegas/4910/market-trends/

Green Valley/Henderon - once the armpit of las vegas (that goes to boulder city now), now it's a huffing and puffing suburb with easy access to the main city with the full development of the 215.
Newer houses and good chance for catching a foreclosure
Not as easy to get to golfing as the former two.
http://www.trulia.com/real_estate/Green_Valley_North-Henderson/4886/

General info for general question, I know. Specifics?
 
nikkai said:
http://www.trulia.com/real_estate/Las_Vegas-Nevada/

Lake Las Vegas - Newest out of the three you listed - condo city here - newest (but not considered best) golf courses. Expensive as hell even post-bubble and really riding on the success of golf + Ritz
http://www.trulia.com/real_estate/Lake_Las_Vegas-Henderson/4890/

Summerlin - fully developed, and one of the first areas to get slammed by the bubble popping - not too much new development going on - verrrry suburbia
http://www.trulia.com/real_estate/Summerlin-Las_Vegas/4910/market-trends/

Green Valley/Henderon - once the armpit of las vegas (that goes to boulder city now), now it's a huffing and puffing suburb with easy access to the main city with the full development of the 215.
Newer houses and good chance for catching a foreclosure
Not as easy to get to golfing as the former two.
http://www.trulia.com/real_estate/Green_Valley_North-Henderson/4886/

General info for general question, I know. Specifics?
Click to expand...

Great info!

Leaning towards Green Valley and Seven Hills. What's amazing is that 900 sqft condos appraised at $70,000 in 2007 yet they sold for $220,000. These are apartment conversions. Now they're running around $70,000.. but been on the market for 3 to 4 months. I would like to see it drop another 10 to 20%.

Summerlin is still expensive in my opinion and I hear Lake Las Vegas is drying up.
 
nikkai said:
http://www.trulia.com/real_estate/Las_Vegas-Nevada/

Lake Las Vegas - Newest out of the three you listed - condo city here - newest (but not considered best) golf courses. Expensive as hell even post-bubble and really riding on the success of golf + Ritz
http://www.trulia.com/real_estate/Lake_Las_Vegas-Henderson/4890/

Summerlin - fully developed, and one of the first areas to get slammed by the bubble popping - not too much new development going on - verrrry suburbia
http://www.trulia.com/real_estate/Summerlin-Las_Vegas/4910/market-trends/

Green Valley/Henderon - once the armpit of las vegas (that goes to boulder city now), now it's a huffing and puffing suburb with easy access to the main city with the full development of the 215.
Newer houses and good chance for catching a foreclosure
Not as easy to get to golfing as the former two.
http://www.trulia.com/real_estate/Green_Valley_North-Henderson/4886/

General info for general question, I know. Specifics?
Click to expand...


Great info!

Leaning towards Green Valley and Seven Hills. What's amazing is that 900 sqft condos appraised at $70,000 in 2007 yet they sold for $220,000. These are apartment conversions. Now they're running around $70,000.. but been on the market for 3 to 4 months. I would like to see it drop another 10 to 20%.

Summerlin is still expensive in my opinion and I hear Lake Las Vegas is drying up.

Tell me about Seven Hills?
 
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That seems to be really cheap but I don't think the housing market hits bottom yet... Based on so many articles, they are still going down.

http://www.patrick.net/housing/crash.html

Remember “’The only person that gets hurt on a roller coaster is the one who jumps off when it's still moving"
 
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