Home Buying in Summerlin>Question Details

Adrian Florea, Home Buyer in Las Vegas, NV

condo versus house as a investment in summerlin

Asked by Adrian Florea, Las Vegas, NV Wed Sep 26, 2012

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0 votes Thank Flag Link Fri Aug 9, 2013
Hi Adrian Florean

If you can afford the home It would proably be better choice because from what Mortgage
Brokers tell me that homes are easy to ge financed and down the would be easier to sell.

If I can be of further assistance and answer
Any of your other questions please contact me

Thanks
Jimmy Balsano
Realty One Group
702-281-2225
Fax 1-866-371-8421
Email: jimbalsano@gmail.com


I KNOW LAS VEGAS AND HAVE FOR 40 YEARS
http://www.jimmybalsano.com
http://www.salestraq.com/las_vegas/newhomesearch/index.cfm?id=4780(New homes)
0 votes Thank Flag Link Thu Sep 27, 2012
HOA fees for condos in Summerlin make the ROI less than what I consider acceptable, and they have lots of restrictions for renting out the condo. Summerlin is NOT my first choice


avid Cooper Investor 702-499-7037
0 votes Thank Flag Link Wed Sep 26, 2012
If you can afford the house comfortably, GO FOR THE HOUSE. Condos and townhomes, historically, are the first real estate types to fall in price during a crash and the last to recover in a boom. Plus their always rising HOAs really cut into profits.


Sincerely,


James Bellile
iProperties International
702-222-0815
http://www.LasVegasRealEstateConnection.com
0 votes Thank Flag Link Wed Sep 26, 2012
Hi, Adrian,


I would not buy a condo at this time. I might consider a Townhome, though. My name is Diane and I am a Realtor, but for 23 years I have been an Investor/Landlord. You didn't say if you were buying the unit as a resident or an investment, but the answer is the same.

Here is the scoop on condo's. Resale is difficult and getting a mortgage is hard as well, because many condos are used as investments. If a condo complex has more than 50-65% rentals in it...FHA will not finance you. Second, is the resale. A condo is simply the purchase of space. It contains no land and...although this is unusual, if the Association (the other owners) decide to sell out to a builder who wants to put up a high rise...you will be forced to sell along with them. A home or Townhome has land under it, and it is decidedly better if you are looking for value. and it is possilbe especially in Summerlin to purchase a home that is smaller which would save on power and heat and one with little or no landscaping headaches. Many complexes also have pools and Summerlin itself has many amenities including a community pool. Hope this helps.

Sincerely
Diane Reinstadtler
Elite Realty
702-460-1900
0 votes Thank Flag Link Wed Sep 26, 2012
We manage close to 350 Homes, Condos, Townhouses for our investors. 85% of them are single family homes for a reason. You will have a much higher rate of return and less chance for legal issues focusing on SFH. If you'd like to know some of the other reasons, please call. If you would like help finding a good deal in the right area please call. Thanks, Kim and Matt

Matthew and Kim D’Ercole
Buyer / Investor Specialists
One Source Realty and Property Management
Cell - 702.501.0973
Website - http://matthewsellslasvegas.las.mlxchange.com
0 votes Thank Flag Link Wed Sep 26, 2012
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