im tryin to move from durant oklahoma to vagas with 7kides and a boyfriend we are lookin for a 4 bedroom home

Asked by Olivia, Tue Apr 8, 2008

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7
Rob Anderson, Both Buyer And Seller, Henderson, NV
Wed Apr 23, 2008
Unbelievable!!!

What a feeding frenzy from the realtor posts. Its actually quite funny...

I am currently looking myself (I have a realtor, thank you) and have been looking at foreclosures and REO's in the 200 to 300K range. There are some deals out there, but if you find something in good shape with all the appliances, cabinets, toilets, and hot water heaters still in the house, and something that does not need a whole house cleaning and painting, you need to jump on it quick. Then if its an REO, expect the bank to want a deposit of 8000 to 10000 dollars and then sit and wait while the REO agent collects multiple offers to send to the bank for approval. The one with the best offer wins.

It is a slow process in the REO market now which is the bulk of the sales. Anyone doing a regular resale is overpriced relative to the REO properties and just can't sell. We tried, but there was no way we could lower our 4 bedroom home 80K to compete with what is out there now. Hence, we are going to rent it when we find something we like.

Most of the realtors out here are in the "its never been a better time to buy" mode. They said that back in October too before prices dropped 20%. Those are the ones to watch out for because they need the commission to survive.

My advice, get a realtor who is realistic about the market and will tell you that there are another 8000 properties going into default soon, that the market hasn't hit rock bottom yet, and that it will remain slow for the remainder of 2008 and into 2009. Once you get someone who will be straight with you, you will better understand the market here.

the person below who suggested renting is also correct. Rental rates are down and you can get a lot of house for less money, only you don't own it. Not a bad strategy for the next year.

As mentioned, we are looking to rent our 4 bedroom house in henderson after we find a house we like tha better suits our needs personally. Not in any hurry though so we can look at a wide variety of homes and take our time.

Back when we moved here in 2006 (PEAK) the best we could find is what we have now for 342000. Our house is probably worth 240000. The 450K house we wanted back in 2006 are now 280 to 300K. That should give you an idea of how bad it is here,
0 votes
Kenneth Kenn…, , Las Vegas, NV
Wed Apr 23, 2008
Dear Olivia: As you know Las Vegas is a beautiful place to live and it is an excellent time to buy! Please take advantage of my FREE Home Finders Search Service where you can shop like a Realtor 24/7/52 without being disturbed. Just sign up and in 24hr you will be able to search the system like a Realtor! When you find the home of your choice please let me know and I will assist you to a successful, happy and pleasant home buying experience! Thank You! Go to the web reference .... Kenneth 702-563-7662
0 votes
Mike, , Las Vegas, NV
Mon Apr 21, 2008
Of course the ramen eaters are going to tell you "it's a great time to buy...but seriously who's smarter

* renter who's living in a great home for a fraction of the cost of owning
* homedebtor who's paying a bank for the right to live in a depreciating asset
*person that owns his home free and clear
0 votes
Tom Clemmer, , South Valley Ranch, Henderson, NV
Thu Apr 17, 2008
First off - the Las Vegas public school system is one of the worst.

Second - take my advise and just rent - it's not a good time to buy.

Times were good a few years ago and now Las Vegas is in a recession...take a look at the last few headlines of the Las Vegas paper...most have to do with layoffs.

The weather is very hot and those kids will have to stay inside most of the summer.

Moving to Vegas - not a smart move with 7 kids.
0 votes
Marilyn Orcu…, , Las Vegas, NV
Wed Apr 16, 2008
Hi Olivia,

You didn't mention what price range you might be looking at. Do you or/and your boyfriend have employment here already and would that employment be in the same field you presently work. It will be important to work with a quality lender as well as a quality agent. I'm a great listener with knowledge that will help you achieve what you are looking for. Please feel free to call me and let's discuss how I can best help you in making a decision on where to live, what you like, what you need and what you can afford.

Marilyn-702-348-7146
Web Reference:  http://www.MarilynOrcutt.com
0 votes
Chris Shouse, Agent, California City, CA
Sat Apr 12, 2008
Now is a great time to find anything you could ever dream of. I would love to help you rather you want to start out renting or want to buy. Please email me and we will find you exactly what you want and need.
Chris@ChrisShouse.com
Web Reference:  http://www.ChrisShouse.com
0 votes
La Shelle Wa…, , Las Vegas, NV
Thu Apr 10, 2008
I will be happy to email you properties that you can review at your convience. This is a good way to search Las Vegas and the surronding areas. If you are not familiar with the city, this will show you where you can get more bang for your buck. Just email me with your price range and anticipated maoving date and we can get started!
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