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Buying a first home: Las Vegas
I've been doing very well in poker recently and have decided to pursue a wise professional gambler ivesting strategy: spend your money before you lose it. I’m decided purchase a single family home/condo/townhouse in Las Vegas and am looking to spend 300-400k. I choose Las Vegas simply because I am a professional gambler.
-I am basically a total real estate noob and could use any advice I could get (along with book recommendations). -I plan on putting down 100-130k. My credit score is around 740 and I only have a tax return for 2006 (with my own records for 2007). Will I have any problems getting a loan? Will my parents have to cosign? I am looking for in order: safe area, baller factor (pool, hot tub, tile floors etc), closeness to strip. I sincerely appreciate any help. |
#2
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Re: Buying a first home: Las Vegas
[ QUOTE ]
am looking to send 300-400k. [/ QUOTE ] stars account stinkypete13 plz |
#3
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Re: Buying a first home: Las Vegas
don't know much, but it seems like putting down 20%+ and having a 740 score should be enough to get the mortgage you need
wherever you live, you can just make renovations to make it baller, so that's not really an issue. |
#4
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Re: Buying a first home: Las Vegas
I think you should hold off buying for a few more months. I have a feeling vegas RE hasnt gone down nearly as far as it will.
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#5
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Re: Buying a first home: Las Vegas
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I think you should hold off buying for a few more months. I have a feeling vegas RE hasnt gone down nearly as far as it will. [/ QUOTE ] Have you been to michigan in decemeber? |
#6
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Re: Buying a first home: Las Vegas
[ QUOTE ]
[ QUOTE ] I think you should hold off buying for a few more months. I have a feeling vegas RE hasnt gone down nearly as far as it will. [/ QUOTE ] Have you been to michigan in decemeber? [/ QUOTE ] I live in canada lol, you get no pity from me. You can always rent for a few months. |
#7
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Re: Buying a first home: Las Vegas
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I think you should hold off buying for a few more years. I have a feeling vegas RE hasnt gone down nearly as far as it will. [/ QUOTE ] FYP |
#8
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Re: Buying a first home: Las Vegas
http://macromarkets.com/csi_housing/MSA/las_vegas.asp
Check out where prices are headed in Vegas. You might want to wait awhile. |
#9
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Re: Buying a first home: Las Vegas
wait like 2 years
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#10
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Re: Buying a first home: Las Vegas
[ QUOTE ]
http://macromarkets.com/csi_housing/MSA/las_vegas.asp Check out where prices are headed in Vegas. You might want to wait awhile. [/ QUOTE ] I respectfully disagree that that chart shows "where prices are headed", although it is my opinion that median prices will continue to decline for another year or so. On a 5 year chart, RE appreciation in LV is in line with commodities and nearly in line with stocks. On a 10 year chart, you're normalizing against the dead bottom of the fallout from the 1990 RE crash, circa 1997, and near the blow-off top of the stock market. Of course it's going to look silly when you pick those as "equal" starting points, because they were not. These charts that average over everything in an entire area also miss the point that there are currently very wide differences in value at the same point in time. You could easily get ripped off in LV, in fact most properties are almost certainly rip-offs at current asking prices. That doesn't mean there will be zero opportunities for a good entry point for the long haul. eastbay |
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