Those who live in Vegas

[93B18]

I'm considering purchasing a 1-3 new (4+ bedroom) homes in the LV area. Was wondering if any of you know which areas (north, south, east, west, northwest, etc.) have the highest potential for growth and appreciation? Apologize in advance if this is way off-topic. I appreciate the replies.

 

[PHOEN$X]

I don't live in Vegas, but if I did I would buy in Summerlin.

 

[RyRy210]

I just bought a house in Henderson, NV. The next phase of homes is suppose to be even more expensive than the one I got.

http://www.lakelasvegas.com/

The realtor told me that Celine Dion lives in the same community.

 

[PHOEN$X]

I just bought a house in Henderson, NV. The next phase of homes is suppose to be even more expensive than the one I got.

http://www.lakelasvegas.com/

The realtor told me that Celine Dion lives in the same community.

She does. Lake Las Vegas is a nice secluded community, but the prices are for the millionaire club only (from what I saw when I checked it out a couple of years ago). Of course, coming from the bay area it might not be that much of a shocker.

 

[vegasnsx]

Buy in Summerlin, other places in the valley are nice but none compare to up here.

 

[93B18]

Thanks for the replies. Yes, I've heard of Summerlin. Is this area have the most potential for growth and appreciation out of the other areas? Most every zip code in Vegas is appreciating steadily and looks never ending. I'm looking to purchase 4 bedroom/2+ baths new homes under $200K and looks like there are still a slew of communities still selling at that price. But the demand out there is crazy and I've heard of waiting lists in the hundreds (650+ on one) with a lot of out-of-town investors. Wish me luck.

 

[vegasnsx]

The median price for a house in Summerlin is 235k, the rest of the valley at 205k, the houses are appreciating 40 percent a year in Summerlin.

 

[saxonsaxon]

250K

I wish I could buy a house for that price. Heck I would get two or three. You guys are lucky. In NY 200K is considered a decent down payment at this time.

 

[gheba_nsx]

Same here: 1 mil$ is the amount to get a decent 6-rooms/2 garage spaces house here.

PS: 90% of the Swiss population rents the house for a lifetime...

 

[Factor X Motorsports]

Summerlin

Summerlin is probably one of the best areas to buy in Las Vegas, although the appreciation has been considerable it does not look like it is going to stop in the near term. As vegasnsx mentioned the median home prices are nearing 250k. Still quite a bargain if you come from markets like California. Although we miss the ocean views in Manhattan Beach, we do not miss those mortgage payments