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Answers (17)
Best Answer
- SoCal_Engr
- Contributions:5666
Is it possible that a reaonable question could also be...
"Is it safer to rent or buy?"
Check out the article on this post.
"Is it safer to rent or buy?"
Check out the article on this post.
- Linda Strasberg, "L Strasberg"
- Contributions:2315
- Linda Strasberg, "L Strasberg"
- Contributions:2315
the selection has never been better
- Mac Rogers, "brokermac2010"
- Contributions:14
I wonder if this is also true in Norcal? The video about the mortgages.
- Tug of War
- Contributions:1969
Prices have dropped 60%, still dropping, more Foreclosures on the way, because of Fraud, Bogus Paperwork 9 out of 10 people in Nevada may not actually own their home.
BTW the Reporter who investigated the Story about 9 out of 10 found out he didn't own his home..A Foreclosure he bought 3 years ago
Truly sounds like a Good time to Buy
Video News Report from Channel 8 Nevada
Desert Underwater: Who owns your Home?
BTW the Reporter who investigated the Story about 9 out of 10 found out he didn't own his home..A Foreclosure he bought 3 years ago
Truly sounds like a Good time to Buy
Video News Report from Channel 8 Nevada
Desert Underwater: Who owns your Home?
- Jim Fong, "Jim Fong"
- Contributions:9
The prices have dropped so much that the price to buy is much lower than rental rates.
I have many examples of actual homes I have sold and rented out for investors. Other advantages of owning rentals in Las Vegas include favorable Landlord laws and no state income tax.
So I say, buying is not just a way to save but also generates income for you.
I have many examples of actual homes I have sold and rented out for investors. Other advantages of owning rentals in Las Vegas include favorable Landlord laws and no state income tax.
So I say, buying is not just a way to save but also generates income for you.
- Tug of War
- Contributions:1969
Amazing
- Linda Strasberg, "L Strasberg"
- Contributions:2315
As Las Vegas real estate values have plummeted 60% since the peak of 2006...and mtg rates have also been cut in half since the peak...
If you thought it was great buying at the peak...
many realize it's a really great time to buy now while prices and rates are at historic lows not seen in over a decade!
If you thought it was great buying at the peak...
many realize it's a really great time to buy now while prices and rates are at historic lows not seen in over a decade!
- Tug of War
- Contributions:1969
Unless of course it turns out you don't own it after all...people do read the news
Which explains the Best Answer:
"Is it possible that a reaonable question could also be...
"Is it safer to rent or buy?"
Video News Report from Channel 8 Las Vegas, Nevada
Desert Underwater: Who owns your Home?
Which explains the Best Answer:
"Is it possible that a reaonable question could also be...
"Is it safer to rent or buy?"
Video News Report from Channel 8 Las Vegas, Nevada
Desert Underwater: Who owns your Home?
- Linda Strasberg, "L Strasberg"
- Contributions:2315
If you bought at the peak and currently own, it is cheaper to rent!
If you are renting currently, it is far less expensive owning vs renting!
If you are renting currently, it is far less expensive owning vs renting!
- sunnyview
- Contributions:25139
Many of the newest numbers that I have seen in seem to indicate that with interest rates where they are right now that it is cheaper to buy than rent in Las Vegas. From what I hear, it can also be hard to get a nice rental there.
- John Dietel, "MN Broker"
- Contributions:82
I have a buddy buying in LV. His rent for a nice 2bd condo is $1500/month. They just made a $103k offer on a nice, move in ready, 2bd plus den, single family home about a mile from their apartment.
Their new payments will be about $600 for PITI, PMI and HOA will bring the payment to around $850/month.
Many people have lost their homes in LV and cannot buy which is why the rental market is so strong there.
Their new payments will be about $600 for PITI, PMI and HOA will bring the payment to around $850/month.
Many people have lost their homes in LV and cannot buy which is why the rental market is so strong there.
- SteadyState
- Contributions:787
We should not advocate a single metric for buy vs. rent decision. For example, even if it is cheaper to buy today than rent, the buyer of the home may have a loss if the home goes down in value further. I do not know the Las Vegas market enough to predict if home prices will decline further. Additional factors that will influence pricing and hence is material to buyers includes:
1. Shadow inventory in Las Vegas
2. Household formation in Las Vegas
3. Unemployment in Las Vegas
4. Impact of FED policies on interest rates
5. Impact of government action on home mortgage deduction and primary home sale capital gains.
1. Shadow inventory in Las Vegas
2. Household formation in Las Vegas
3. Unemployment in Las Vegas
4. Impact of FED policies on interest rates
5. Impact of government action on home mortgage deduction and primary home sale capital gains.
- Vince Curtis, "SoCal Appraiser"
- Contributions:4699
Many clients have payments of $500 to $ 800 a month. Investors can purchase homes and rent them out and have all their investment back in 6+ years depending on what the purchase amount is.
...assuming rents remain the same, (haha) but rents should go DOWN if its cheaper to buy, correct ?
- Suzie Marquardt, "NevadaShortSales"
- Contributions:91
Vince
I have seen that it is usually cheaper to buy versus rent in Las Vegas. These homes are priced so low you can hardly go wrong. Many clients have payments of $500 to $ 800 a month. Investors can purchase homes and rent them out and have all their investment back in 6+ years depending on what the purchase amount is. Also when you figure the tax advantage for the owner occupied properties it is a no brainer. I just am closing on a home that sold for $800,000 a few years ago. It is closing at $324,000($69.00 a Sq Ft). Thank You for the question. I am always available to help.
Thank You
Suzie Marquardt
I have seen that it is usually cheaper to buy versus rent in Las Vegas. These homes are priced so low you can hardly go wrong. Many clients have payments of $500 to $ 800 a month. Investors can purchase homes and rent them out and have all their investment back in 6+ years depending on what the purchase amount is. Also when you figure the tax advantage for the owner occupied properties it is a no brainer. I just am closing on a home that sold for $800,000 a few years ago. It is closing at $324,000($69.00 a Sq Ft). Thank You for the question. I am always available to help.
Thank You
Suzie Marquardt
- Matt Kammeyer, "BrokerSalesman"
- Contributions:26
Very much so. As an example of a 1400sf 3 bedroom 2 bath property I just sold in a newer are of town, the rents are about $1100-1200/month. The overall costs including HOA, taxes, insurance, and mortgage payment (20% down) is $620/month.
This is the case across the board for most properties priced under $250k, then it goes on a case by case basis.
Let me know if you have any specific questions about specific products.
This is the case across the board for most properties priced under $250k, then it goes on a case by case basis.
Let me know if you have any specific questions about specific products.
In Las Vegas - is it cheaper to rent or buy ?
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