Time to buy a house in Vegas!

[dominique]

If you've been thinking of moving to Vegas, now is the best time in years to buy property!

Vegas real estate prices are down 39%! Mortgages are as cheap as they can be.

The average price for a home in Vegas fell to a five-year low of $189,000 in November. Foreclosures make up a mindboggling 70% of the resale market.

There has never been a better time to make the move.


:chipstack:

[vegasnut]

I wouldn't mind living there...but I think the cost of living in vegas, utilities, etc...would be high. And lord knows the food prices are high.

OH and the 100+ degree heat in the summer would kill me!!! LOL

[winbig]

I just found this page that compares Las Vegas' electricity costs compared to several other major cites.....it seems that it is in line, and somewhat cheaper than most..

http://www.insidervlv.com/electricaluseage.html


City Average Usage kwh/mo Average Rate cents/kwh Average
Bill/Month
Las Vegas 3801 $5.85 $222.70
Los Angeles 4274 $9.31 $397.88
New York City 5223 $12.98 $677.94
Vancouver 7512 $3.64 $273.17

[VegasLuvsMe]

That does seem pretty close to the other major cities.

It looks like a lower kilowatt usage in comparison to the others though.

Vancouver is by far the cheapest in that group.
(just noticed the price per kilowatt hour used)

[vegasnut]

I just found this page that compares Las Vegas' electricity costs compared to several other major cites.....it seems that it is in line, and somewhat cheaper than most..

http://www.insidervlv.com/electricaluseage.html

Yeah they are pretty good compaired to other major city's....but since i live in country.....I think it would be higher than what i am used to...lol

[dominique]

I wouldn't mind living there...but I think the cost of living in vegas, utilities, etc...would be high. And lord knows the food prices are high.

OH and the 100+ degree heat in the summer would kill me!!! LOL

Well, everything is airconditioned so you won't do much outdoor walking in the summer, but then there are so many sights to see indoors I doubt one will run out of places to look at anytime soon.

Re. food: If you do some research you will be surprised at the food prices in many areas and restaurants off the beaten track. Mostly what we see is tourist traps. The locals don't even go to the casinos on the strip much to gamble, there are lots of inexpensive small casinos in local neighborhoods.

IMO it's a great place to live, if you can resist the gambling. I think that's where the problem lies, the slots are just a hop and a jump away at any time, night or day, 7 days a week... One would have to seriously budget for this and be very disciplined in adhering to the budget.

[queen of hearts]

I think it would be great to live in Vegas, though I have to be honest I dont think that I could handle the heat in the summer months at all, nor the costs of utilities and other things. Though I bet it is a really great place to take a vacation and to have loads of fun for a short time.:)

[winbig]

Even if you're not up for buying a house, rent is very reasonable in Vegas, considering the location....I've been looking into moving, myself, and a decent 2 bedroom apartment in a gated community will run you (on average) $1000-1300/month....and usually these are close to the strip.

[Chipsahoy]

My son is stationed in Vegas at Nellis Air Force base, and he has been shopping for a new home with his girl, and when he gets back from Iraq they will be buying one, maybe two because they are sooo low right now! i agree Dom, its the right time to b uy

A 4 bedroom house, central air, garage, built in swimming pool, huge deck and patio with built in grill , all the rooms are huge and its only 95,000!?? Can you believe that??

He was approved for a 225,000 load before he got deployed again to iraq, so when he gets back next month, hopefully he will not have to apply again, and this loan stands, but his girl is also military, and she was approved for one to, so they will be taking advantage of these great prices, i told them don't forget about mommy!! lolllllllllllllllllllll

Dom, buy now if you can, you won't regret it.