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March 31, 2007

The Las Vegas Real Estate Search

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Everyone has been saying that the Las Vegas Real estate market is a buyers market. I didn’t really believe them. Now that we’re searching for a home, I’m becoming a believer. About a year ago, the cheapest home we could find was $270,000 and that was not negotiable. You just had to take the price they gave you. Our realtor has now done a search for Las Vegas homes and she got like 171 to choose from. That’s a decent number of homes to choose from. Plus, it looks like we can bargain with the price too. My guess is we should be able to negotiate somewhere between $10-15k off the listing price for the home. I guess we’ll see how it goes. Some people probably won’t budge.

We’ve already gone to see 4 homes in Las Vegas and Henderson. There was one home that was on the higher end of our price range and also had $150+ a month in home owners association fees. I knew that it wouldn’t be a place we’d want to live. Turns out I was right. The bad part was that the home had one of the most incredible views. Not to mention the hot tub in the back yard. I could just see Kristine and I sitting in our new hot tub in our backyard enjoying the beautiful view. Oh well, there were a ton of other things wrong with the house. It’s too bad that such a wonderful view has to be wasted on such a crappy house.

I must admit I’m still very nervous about buying a home. There are so many factors that you have to consider when buying a house. Price being number 1. I expect with the Las Vegas Real Estate market, we are almost guaranteed an increase in equity in 3-5 years. I guess we just have to have faith. I am a little concerned about the Las Vegas high rise condos that are popping up like rabbits. I would never want to live their personally. I want a home, but that doesn’t mean that a flood of high rise condos won’t affect the price of my future home.

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