Tony Depasquale

Gene:

I appreciate your confidence and would be happy to find you a competent agent here in Las Vegas. As of now, I only represent current clientel and very unique transactions when it comes to real estate. That being said, when the time is right, feel free to contact me and I will be more than happy to assist you.

Tony - Tue Aug 26 2008, 20:16

The will rent because a lot of people can't afford a down payment, or they have recently lost their home and still need a place to live, or they simply don't think now is the right time to buy....like you nonrealtor.

BTW, every community in my neighborhood is either guard gated or gated...Every country club is gated, does that mean it's a bad area and you can't walk down your street at night? - Thu Aug 21 2008, 07:09

Martin:

Did you buy cash or did you finance? The only reason I ask is because I have a forign national looking to buy right now from the United Kingdom. Just wanted to see how your experience was.

BTW- That area of town is not the best, but it is certainly is not the worst either. I think for over 1000 square feet, for 60 grand on a rental property, you should be just fine.

Thanks,

Tony

Thanks,

Tony - Wed Aug 20 2008, 16:01

Gene:

You would be surprised what's out there right now. My firm had a clieny that tried to purchase a 3,100 square foot 4 bedroom home in Southern Highlands. It was a ona 9,000 square foot lot with a pool. It was a banked owned home and was listed for $274,000. The home was in very good shape. Our client put in an offer at $288K. The home had been on the market for only 4 days and the property already had 10 offers on it! I don't know what the actual sales price was, but at a bid of 10K over, I don't think our client was close. I would be willing to bet that the home went for around 300K.

Check out http://www.VegasUnder200K.com

There are a lot of homes on that website around 60K, and in not bad areas.....Like I said, you would be surprised.

Tony - Wed Aug 20 2008, 14:23

Paul:

Thank you for the comment. We try very hard to give people honest, ethical advice that fits their circumstances.

Regarding your situation, I do not personally deal in real estate brokerage activities, with the exception of some of our high net worth clients whom I have had a relationship with for a long time. However, I would be more than happy to meet with you and learn more about what you are trying to accomplish. We have very good people here and I can refer you to one of our agents who will take good care of you. My website is below, feel free to contact me whenever the time is right.

Thanks,

Tony - Tue Aug 19 2008, 07:59

Nizar:

In my opinion, the short answer to your question is that if you do not have a lot of money to invest, you should probably not be investing in real estate at this time. Real estate is a highly illiquid investment. You should have a substantial down payment prior to purchasing a property, while maintaining a balanced portfolio. Also, real estate can dgo down in value, and can be difficult to liquidate if you need access to the assets you have put down on the property.

If you have a solid base of investments including at least 6 months worth of you monthly liabilities in a savings account, a sound retirement plan, few debts, and a comfortable amount in other investments such as stocks, bonds, mutual funds etc...then investing in real estate may be a good fit for you.

If you are not at this level, you should work on your financial foundation first. In m opinion, real estate in Las Vegas is a sound, long term investment, but it is certainly not a fit for everyone.

If you need any help, or have any questions, feel free to contact me.

Tony DePasquale - Sat Aug 16 2008, 17:25

So let me get this straight...You take issue with an agent discussing a goldren rule of investing, buying low and selling high. You tell everyone that the correction has brought the market back to reasonable pricing. Then you admit that there are some good deals in Lake Las Vegas???? I love your way of thinking, because you can never be wrong!

The fact that you now believe Las Vegas was overpirced is an amazing piece of analysis....I think it is pretty clear that most people at this point feel the market was overpirced, it has corrected, and there is value to be had at this point.

By the way, in any market there are SOME good deals and SOME bad deals. Do you think were back to even, or do you think there is value??? Can't have it both ways. - Tue Aug 19 2008, 07:51

Anyone who actually believes that the Wall Street investors, the City of Henderson, the State of Nevada, The Ritz Carlton, and the influential homeowners who reside in Lake Las Vegas would actually let the entire project turn into a ghost town needs to have their head examined. - Tue Aug 5 2008, 23:51

Fortessa:

Some people are so wrapped up in the investment side of property aquisition, they forget that you and your family actually need and want a roof over your head! Prices may continue to drop, they may not, but if you are looking for a primary residence, this is a good time to buy a home.

The tax benefits of home ownership, the current interest rate environment, and a stable place to live for you and your family are all considerations you must take into account. Plus, if you hold the property long term, history tells us that you will see an increase in value.

Now, if you are a real estate investor, your personal financial situation is as important as the market in which you are looking to purchase.

As for asking agents which clients have made money since 2005....It is no secret that the market has dropped and is significantly lower than 2005 levels (nationwide). It certainly does not take an economist to realize this truth. But, trying to predict the bottom of any market is a tricky game that even the best investors do not predict accuruatly. Anyone who is telling you the market will definitly go up, or will definitly go down over the next year or so are simply speculating. They may be proved right, they may be proved wrong, but that is not because they can predict the future.

In my opinion, over the next year or so, the market will continue to hover around current valuations, moving up or down a maximum of +/ - 5%.

You should probably ask yourself if a 5% or so drop, or increase in value will affect your decision to purchase or rent once you move here.

By the way, most areas of Las Vegas are quite well maintained and are very nice place to live and work.

Thanks,

Tony

you - Sat Aug 16 2008, 18:18

Fortessa:

Check out this website. It has every home available in Las Vegas that is $200,000 and below. This includes resales, new homes, forclosures, condos, etc. You can search by area of town, and even by zip code. The agent is very good. She was born and raised here, so she knows the city very well. Also, I know that her mother is a Clark County School District teacher. I know that she understands the Clark County School District very well. She can also do custom searches for you, just in case you are looking for something a little higher in price, or if you don't see what you are looking for on the website.

The website is:

http://www.VegasUnder200K.com

Thanks,

Tony DePasquale
Owner / CEO
The America Consolidated Companies
CEO@AmericaConsolidated.com - Wed Aug 13 2008, 10:33

Tony:

I know it is hard, but it would be best to wait it out right now. Bill is correct in saying that a lease option is about the best solution for this situation, if you HAVE to get a new home. But keep in mind that people who are doing a lease option to buy right now could simply walk away and usually cannot get a tradtiional loan right now, reflecting poor credit history. You do not want to be stuck with two mortgages if all of the sudden two years from now (or sooner) they decide to walk away from the contract, and leave you with the tab.

You could sue in this situation, but if they don't have any assets, then you will be stuck with the bill.

Wait it out. Home values will increase again.

Tony DePasquale - Sat Aug 16 2008, 17:49

John:

I am a licensed Realtor, however, due to the nature of my responsibilities I no longer activly engage in residential real estate brokerage. However, I can refer you to one of our agents who would be happy to assist you.

Our firm specializes in overall financial planning and asset management. We can help you secure a home, finance it, balance your investment portfolio, and address your insurance needs if required. Also, by utilizing the breadth of services provided by our firm, we can save you thousands of dollars in fees and commissions, while streamlining your unique situation and making your experience easier.

Please feel free to review my companies website, and feel free to contact me personally for assistance.

Regards,

Tony DePasquale
President/ CEO
The America Consolidated Companies
email: CEO@AmericaConsolidated.com - Sat Aug 9 2008, 12:05