Real Estate Investing - Condo Outlook in Las Vegas?

Author

Condo Outlook in Las Vegas?

pjbphd

2007-04-07, 5:25 pm

My job will be taking me to Las Vegas for two weeks a month for the next
three to five years. I'm trying to decide whether I should rent an
apartment or purchase a condo. One factor I need to consider is the
projected real estate market, particularly for condos, in Vegas.

I realize of course no prediction is fool proof. The Vegas real estate
market in general has been expanding at an extremely high level the past few
years, but like many other parts of the US, it's flattened out lately. I
don't know if the condo market in particular is overbuilt and what the
projected inventory is or will be over the next few years.

Of course if I talk to the real estate industry they will tell me it's a
great time to buy; if the market is down because it's a buyers market and
if it's up because properties are appreciating so quickly. I'm looking for
a source of some unbiased statistics and projection understanding that any
investment involves risk.

Any help or guidance is appreciate. I already have a realtor so please no
trolling.

Thanks

pjbphd

--
Too many spams have forced me to alter my email. If you wish to email me
directly please send messages to pjbphd at cox dot net

user@127.0.0.1

2007-04-08, 3:25 am

You can get a lot more for your rent money than you can if you bought.

Rent for now.

On Sat, 7 Apr 2007 15:23:17 -0700, "pjbphd" <pjbphdspamsux@cox.net>

wrote:

>My job will be taking me to Las Vegas for two weeks a month for the next
>three to five years. I'm trying to decide whether I should rent an
>apartment or purchase a condo. One factor I need to consider is the
>projected real estate market, particularly for condos, in Vegas.
>
>I realize of course no prediction is fool proof. The Vegas real estate
>market in general has been expanding at an extremely high level the past few
>years, but like many other parts of the US, it's flattened out lately. I
>don't know if the condo market in particular is overbuilt and what the
>projected inventory is or will be over the next few years.
>
>Of course if I talk to the real estate industry they will tell me it's a
>great time to buy; if the market is down because it's a buyers market and
>if it's up because properties are appreciating so quickly. I'm looking for
>a source of some unbiased statistics and projection understanding that any
>investment involves risk.
>
>Any help or guidance is appreciate. I already have a realtor so please no
>trolling.
>
>Thanks
>
>pjbphd

camgere@earthlink.net

2007-04-08, 9:25 am

On Apr 7, 3:23 pm, "pjbphd" <pjbphdspam...@cox.net> wrote:
> My job will be taking me to Las Vegas for two weeks a month for the next
> three to five years. I'm trying to decide whether I should rent an
> apartment or purchase a condo. One factor I need to consider is the
> projected real estate market, particularly for condos, in Vegas.
>
> I realize of course no prediction is fool proof. The Vegas real estate
> market in general has been expanding at an extremely high level the past few
> years, but like many other parts of the US, it's flattened out lately.

Much like momentum stocks, when prices go up money pours in.
Eventually the rise stalls and money pulls out, dropping prices. I
think Vegas has hit the peak. Since us California real estate
investors spend money like drunken sailors we tend to follow nearby
(cheap to us) Las Vegas market. A couple of threads from 6 months ago
from the San Diego Creatirve Investors Association (SDCIA):

http://www.websitetoolbox.com/tool/...highlight=vegas

http://www.websitetoolbox.com/tool/...highlight=vegas

The comment that Las Vegas has lots of low wage workers that need low
cost housing would seem to put a damper on housing prices. I suppose
the Condo/Hotel that caters to tourists is a possibility, but what is
trendy now is last years news, next year.

Since I don't gamble (hvaing taken courses in statistics) Las Vegas
just doesn's have the appeal for me that it has for some.

CalCruiser

2007-04-08, 1:25 pm

>> My job will be taking me to Las Vegas for two weeks a month for the next[color=darkred]

Buy the condo. I assume your employer will compensate you in some fashion,
unless of course you're the employer. 3 to 5 years could build some modest
equity. 3 to 5 years of interest deducted from your income would be welcome on
your income tax returns.

I'd suggest really studying the market to find out what area will stay hot and
likely grow in value. When markets swell in the good times, and then recede,
there are always locations that have a lot of fallout and those that continually
flourish. Find the flourishers.

After you find that area, heavily vet the prices and buy at the lowest price
possible, even considering newer but damaged units. You may have some weekend
time available for sweat equity.

pjbphd

2007-04-08, 5:25 pm

Good responses, thanks. One other factor no one seems to have mentioned is
that because I will become a Nevada resident and this will be my primary
residence, when I sell it I'll be able to avoid capital gains taxes. Does
that alter anyone's assessment?

Thanks

pjbphd

"pjbphd" <pjbphdspamsux@cox.net> wrote in message
news:sRURh.143336$7g3.42368@newsfe14.phx...
> My job will be taking me to Las Vegas for two weeks a month for the next
> three to five years. I'm trying to decide whether I should rent an
> apartment or purchase a condo. One factor I need to consider is the
> projected real estate market, particularly for condos, in Vegas.
>
> I realize of course no prediction is fool proof. The Vegas real estate
> market in general has been expanding at an extremely high level the past
> few years, but like many other parts of the US, it's flattened out lately.
> I don't know if the condo market in particular is overbuilt and what the
> projected inventory is or will be over the next few years.
>
> Of course if I talk to the real estate industry they will tell me it's a
> great time to buy; if the market is down because it's a buyers market and
> if it's up because properties are appreciating so quickly. I'm looking
> for a source of some unbiased statistics and projection understanding that
> any investment involves risk.
>
> Any help or guidance is appreciate. I already have a realtor so please no
> trolling.
>
> Thanks
>
> pjbphd
>
>
> --
> Too many spams have forced me to alter my email. If you wish to email me
> directly please send messages to pjbphd at cox dot net
>

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