Job offer in Las Vegas

[fintstone]

I was offered a decent job in Vegas last year, but turned it down. I just received another offer that is significantly better. It is at Nellis AFB which is located in the northeast part of Vegas . I will probably accept it. My youngest child is in college (dorms), so schools are not a consideration. Any good pointers/things I should know before deciding/moving? It will probably be at least six months before my wife can also move so I am thinking about initially buying a small fixer-upper home to rent out later. After we sell our current home we could purchase a nicer one there.
Any suggestions for an area near Nellis that would be candidates for either the future rental or a nice area for long term? Is there anything in particular that I should avoid?
Any advice regarding such a move would be greatly appreciated.

[motion]

Be prepared to spend $500k for a nice home that will be worth $200k in a couple years... sorry to be so pessimistic, Flint, but that's what my crystal ball is showing me. But regardless, best o' luck to you!

[fintstone]

Thanks! Couldn't be a bad as CA though...could it? Why do you expect such a big bust?

[motion]

Well, I used to think things would crash here, but now I'm not so sure. Prices have dipped a little in some areas (like mine), but they're not building ocean-front land with the best climate in the world anymore. Demand here far outstrips supply. I'm beginning to think that prices here will stabilize and appreciate at normal levels, like 7-10% per year. Vegas - and Phoenix - are propped up by investor-owned properties. When they start selling, its going to be a rough ride.

[copper]

If you happen to get any free passes to Area 51 in Rachel, let me know...

[tabs]

Hey Fintstone...I got alot to say about LV RE.....I have just settled a Construction defect case against one of the larger Builder, Developers in the area...I can tell you where you can buy relativily cheaply....oh there really aren't any fixer uppers in an area that you would want to live in...remember this town has only been booming in the past 10 years or so...so most of the better stuff is still new...

Motion...No way is LV RE going to collaspe...not with 7 people an hour..or 6000 a month moving here....like the ocean property there is only so much room in the valley..and they are starting to build upwards...condo towers... LV has a lot going for it with regards to business, taxes, weather etc....remember all those aging/retiring Boomers out East who want a warm place to stay in the winter...and this town despite it's hard scrabble under pinnings...offers more ammenties than any town of it's size in the world....BEST entertainment, food, shopping and leaisure activities around... they are even trying to entice major league sports teams to come here... YOu cannot believe the amount of development going on here...and just not new homes but commercial developments...where there was desert dirt a year ago today there is a shopping center before your very eyes...

My guess is that SO Cal RE is more at risk of having a major correction....you have to have business to creat jobs and that requires a government that doesn't try and stifle business through taxation and regulations. otherwise guess where the businesses are going to go... the demographics are changing..AZ and NV are the hot areas to go to, with the largest increases in population in the USA.....with all that white flight from CA...all your going to have left is a bunch of illegals left over there to buy your house Motion... SI Hable Espanol....viva El Norte Mexico....

[motion]

Lol, Tabs... hmmmmm.... I just can't seem to picture illegals buying million dollar plus houses. BTW, the unemployment rate here is 2.9%. Not exactly tough times.

[tabs]

Ohh yeah about those investors....most builders now require that the owner live in the home..and with so many people coming here the investor/speculator is a small portion of the market...One smart investor last fall bought a Pulte Home for 595K a week after closing on it...Pulte dropped the prices on that model home to I think 495K....The RE industry was concerned that Pultes price reduction would effect the LV RE market...guess again it was just a blip on the screen....and while prices have cooled and subsided some..I think partially seasonally...Christmas Holidays etc...we will see what prices do in the spring and summer...


MY PREDICTION:.....CA RE prices will start to decline in general in the Spring....subside...is a better way to put it...some area will move down faster than others....those that moved the fastest upward....OC......

LV RE prices will start to climb a a modest pace....I can see LV becoming very pricey....to rival CA...LV allready is just about equal to San Bernardino/Riverside Counties....303K for LV...311K for SB/RIV....

[tabs]

How about 4 families buying together....ahhhhsoooo you likie egg roll with your chop suey....

[tabs]

One thing that happened in Detroit was that a Black family would move onto a block of white folks and all the white folks would panic and sell out cheap.....Now in OC....land of the lemmings...if one house on a block is sold for 1M.....everybody pats themselves on the back and says what a great investment....but if you put up 3 or 4 at one time on the block how many will be able to be sold at that 1M price tag...once you get to a certain price level it ain't so easy to move the merch anymore cause you just don't have the buyers who can qualify...

[vash]

Originally posted by tabs
How about 4 families buying together....ahhhhsoooo you likie egg roll with your chop suey....

HEY! just because most asian families dont like to be in debt. better to pitch together and in the long run end up way ahead. i work with so many young chinese millionaires it isnt even funny. and for the record, eggrolls AND chop suey are both invented for you white dudes. we dont eat that schit (or say ahhh soo).