(Closed) Home buying in Las Vegas or Phoenix?

posted 7 years ago in Home
Post # 3
Member
283 posts
Helper bee
  • Wedding: July 2011

I don’t know about LV, but you can definitely find a nice home in PHX for around $200k. There are more suburban areas (Tempe, Chandler, Mesa) that are not smack dab in the middle of the city. I see you are living in San Fran and wedding in New Husband… have you ever been to PHX? Obviously the climate is worlds away from that in SF/NH. It is definitely not for everybody.

I am a native Arizonan myself, and I relish the heat, but Phoenix is 10 degrees warmer than where I’m from and even I can’t handle that. It is a beautiful place, but the summers are literally stifling. If you are not familiar/comfortable with a very, very hot, dry climate I would think twice about spending some time there before you make any big plans. People either LOVE it, or they HATE it. There’s not much in between.

Post # 5
Member
10366 posts
Sugar Beekeeper
  • Wedding: September 2010

Las Vegas is having a major foreclosure crisis at the moment, so i’d choose my neighborhood there very carefully. It also means there are a lot of good deals….so long as you are ok with the market not bouncing back for the foreseeable future and with the possibility that some neighborhoods may never come back in the same way. Current projections for Las Vegas see home values ther continuing to fall as much as another 15-20% over the next 1-2 years. Be careful.

Post # 6
Member
10366 posts
Sugar Beekeeper
  • Wedding: September 2010

Las Vegas is having a major foreclosure crisis at the moment, so i’d choose my neighborhood there very carefully. It also means there are a lot of good deals….so long as you are ok with the market not bouncing back for the foreseeable future and with the possibility that some neighborhoods may never come back in the same way. Current projections for Las Vegas see home values ther continuing to fall as much as another 15-20% over the next 1-2 years. Be careful.

Post # 7
Member
10366 posts
Sugar Beekeeper
  • Wedding: September 2010

Las Vegas is having a major foreclosure crisis at the moment, so i’d choose my neighborhood there very carefully. It also means there are a lot of good deals….so long as you are ok with the market not bouncing back for the foreseeable future and with the possibility that some neighborhoods may never come back in the same way. Current projections for Las Vegas see home values ther continuing to fall as much as another 15-20% over the next 1-2 years. Be careful.

Post # 8
Member
961 posts
Busy bee

I have lived in LV for the past 14 years.  We just purchased our third home here in January 2011 so I’m very familiar with the market conditions here.  There are a glut of foreclosures here so it is driving the prices of homes down.  However, we have seen the market stabilize over the past quarter.  It is possible to get a nice home for under $200k.  That said, big rural yards with rustic homes are rare here unless you want to be on the outskirts of town and this is the desert (i.e., grass doesn’t naturally grow here).  Some of the older homes, in older developments, may have larger lots with mature landscaping but the homes here tend to be in the Southwest, Mediterranean, Tuscan architectural styles.  And it’s HOT here in the summer! lol.

Post # 9
Member
349 posts
Helper bee
  • Wedding: June 2011

Mr. R works for a mortgage company. He often travels for their auctions. You can find a lot of forclosure properties here: http://www.homepath.com

Their company has a “cash for keys” program.. which is kind of sick, but they pay people to not destroy the house before they are forclosed on, so the homes are in really good condition.

Edit: You can also really lowball these prices too, since most of them are owned by banks who just want to get them off the books.

Post # 10
Member
1876 posts
Buzzing bee
  • Wedding: October 2014

Wait – how often would you have to commute to San Fran? And is there a limit on how much you can expense? You might want to make sure you have all the facts before you up and move somewhere far. Would you consider somewhere in Cali that’s no San Fran but also not as far? Or what about Portland? I personally would like to be closer to the water but if you prefer the desert Phoenix would be great.

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