Home Buying in Las Vegas>Question Details

LA Resident, Home Buyer in Los Angeles, CA

Current Los Angeles resident and looking for a condo purchase in the Las Vegas area

Asked by LA Resident, Los Angeles, CA Sat Sep 22, 2012

Looking for advice at how to proceed (best way to purchase out of state). I would be a first time home buyer and could conceivably, "move" to Vegas since I work remotely from home, but more likely splitting time between LA and LV, so I wouldn't consider it an investment purchase. I have about $35k cash and looking for something in the range of $70-85k in an adequate neighborhood and/or gated community. Thanks!

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John J. Longeway’s answer
Hi LA Resident,
After reading your comments you are probably looking at a second home purchase. Your full time residence would be based on where you spend the most time either LA or LV. As someone mentioned earlier condos are a little tricky to get financed. I would suggest you look at townhouses or single family residences. I would be happy to help you proceed with your plans.
Please call, text or email me and we can move forward.
Thanks,
John J. Longeway
Realtor®
Keller Williams Realty Southern Nevada
Office 702-777-0002
Cell 702-325-4833
Fax 702-777-9815
http://jjlongeway.kwrealty.com
0 votes Thank Flag Link Sun Sep 23, 2012
Hi,

You should also check into new homes at Harmony Homes Bella Fiore & Tremezzo Communities in the Lake Las Vegas Master Plan. They are a little above your stated price range but are well worth the look. Starting at $298,990 plans go from 2307 sq ft thru 4615 sq ft. - both communities are gated with security patrol included.

Lake Las Vegas is a peaceful Master Plan Community only 15-20 minutes from the strip. You can check out the community specific websites at http://www.bellafiorellv.com and http://www.tremezzollv.com or contact me direct at 702-324-9281 or email Mdutchess@HarmonyHomes.com.

Thanks,
0 votes Thank Flag Link Sun Oct 7, 2012
Hello,

I was born and raised in Los Angeles and can provide comparables of the various neighborhoods. You can inform me where you currently live in Los Angeles or where you would like to live and I can provide you with what the comparable neighborhood is in Las Vegas. I can be reached at 702-318-1244 or NakiaWoodson@yahoo.com.

Thanks,

Nakia Woodson
Wardley Real Estate
0 votes Thank Flag Link Sun Sep 23, 2012
Community neighborhood information and a great search engine for local searches is availble at my website below-
The only issues we are having with condo purchases in vegas is the ablilty to obtain financing due to various issues that most condo communities have - ie litigation, tenant ratio's being too high and other factors-
But there are ways to overcome these issues-
contact me and we will talk about them.
Sincerely,
Paul May
Web Reference: http://www.mayteamlv.com
0 votes Thank Flag Link Sun Sep 23, 2012
Hi,

My name is Thomas Doble and I have been a Real Estate Broker for 12 years in Las Vegas. The Las Vegas housing market is changing very fast as prices are starting to climb and inventory is the lowest in 4 years. This is a great time to purchase here in Las Vegas as it appears we have hit bottom and home prices are on the rise. I can find you a great property in your price range. I have bank owned properties, short sales and conventional sales available for you to look at. Please let me know if you would like to receive more information let me know I can start sending you property listings.

Thank you,

Tom Doble
Horizon Realty Group,
702-683-1337: Cell
TGDOBLE@HOT MAIL.COM
0 votes Thank Flag Link Sun Sep 23, 2012
We would strongly suggest that you purchase a Townhouse or Single Family Residence. Please call and we can share with you why and what options you have. Thanks, Matt and Kim.

Matthew D’Ercole
One Source Realty and Management
Cell - 702.501.0973
Website - http://matthewsellslasvegas.las.mlxchange.com
0 votes Thank Flag Link Sun Sep 23, 2012
The government foreclosure program has 10% down for investors, if you don't show a paycheck in Las Vegas, you are NOT a first time homebuyer. There are some nice 2+2 Condos at deep discounted prices
http://tiny.cc/95p2kw
Web Reference: http://tiny.cc/95p2kw
0 votes Thank Flag Link Sat Sep 22, 2012
Few condos in Las Vegas qualify for a mortgage as most of them have litigation against them. Additionally, most banks will not make a mortgage for amounts less than $65,000. There are some who may, but you will be paying 8.5% interest when most loans nowadays are being written for 4%-4.25%.

You would have to buy a home in order to get a mortgage. Whether you consider it an investment or not is totally immaterial. If you work in LA, and you move here and you are not working here, it is an investment. The only way it is not an investment is if your company transfers you, but you still work for the same company. Since you are not being transferred, then it is still an investment. Hence, it is 10%-20% down depending on who qualifies you.

There are nice townhomes and condos that you can get in Las Vegas for around $120. Townhomes will be more mortgageable than condos so that is the way to go. Houses in this price range are very difficult to get as everything is selling quickly. Homes in this pricerange don't stay on the market for very long. The competition is quite fierce. Some homes are receiving more than 15 offers.

Here is how you get started: (1) go to a bank or mortgage company who is licensed to do loans in NV. Get prequalified. Then choose a realtor and search for homes either among what is sent to you or online. The realtor will take care of the rest.
0 votes Thank Flag Link Sat Sep 22, 2012
How wonderful, send me a direct message and I'll lead the way toward your first home purchase.

Have a great weekend,

Christopher L. Romero
702.787.1167
ImYourLVAgent@Gmail.com
Realty ONE Group
0 votes Thank Flag Link Sat Sep 22, 2012
There are financing options for owner occupier and 2nd home condo purchases...Let me know if I can help you...ByronKacheris@aol.com
0 votes Thank Flag Link Sat Sep 22, 2012
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