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Las Vegas 2 bedrooms won't sell at 25k
- Thread starter wilburbear
- Start date
Quote from peilthetraveler:
"Did some digging...found about 11 of them in the same complex for sale. Forget the one that costs $25k. Buy this one that was listed a week ago for $720."
http://www.zillow.com/homedetails/2.../7028296_zpid/#{scid=hdp-site-map-bubble-address}
"nice. if you take 30Y mortgage at 3.96 you end up paying $3 (three) dollars a month, i.e. about one 2-pound coin..."
Than how serious are the price tags on this website ? is the 25K house a genuine offer ?
"Did some digging...found about 11 of them in the same complex for sale. Forget the one that costs $25k. Buy this one that was listed a week ago for $720."
http://www.zillow.com/homedetails/2.../7028296_zpid/#{scid=hdp-site-map-bubble-address}
"nice. if you take 30Y mortgage at 3.96 you end up paying $3 (three) dollars a month, i.e. about one 2-pound coin..."
Than how serious are the price tags on this website ? is the 25K house a genuine offer ?
Second cheapest listed house in Toronto just went for $221k. One bedroom ( 950 sq feet ), one bathroom in the basement, big hydro tower in the backyard, train station near by.
Location is everything in real estate.
Location is everything in real estate.
\Quote from luisHK:
Insane :eek: The appartment across mine was for sale a couple of months ago and you could afford only quite a bit less than a single sqm with the 25kusd !! The sign disappeared, so they might have sold it !!!
LV sounds cheaper than many cities in the developping world at the moment - weird !
not wierd. ever hear of supply and demand? when the UN showed up in Kabul the demand for secure western style housing put some rents at above $10000/month.
Quote from zdreg:
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not wierd. ever hear of supply and demand? when the UN showed up in Kabul the demand for secure western style housing put some rents at above $10000/month.
Yes, I heard about supply and demand. Kabul's example is not really relevant, the price of a house in Vegas appears lower than those of flats with local standards in secondary cities in the developping world, where there is no particular safety issue. Certainly *much* lower than in Macau, where I hang out regulary, which shares quite a few similarities with Vegas - among them belonging to the first world, or so I thought for Vegas
I'm surprised if the owner really needs 25K that he doesn't sell the house in seperate elements and holds on the land, or just holds on all of it until better days. Besides the 250 or so usd house sale advertisement has me wonder how serious this all is.
Weird
Quote from luisHK:
Yes, I heard about supply and demand. Kabul's example is not really relevant, the price of a house in Vegas appears lower than those of flats with local standards in secondary cities in the developping world, where there is no particular safety issue. Certainly *much* lower than in Macau, where I hang out regulary, which shares quite a few similarities with Vegas - among them belonging to the first world, or so I thought for Vegas
I'm surprised if the owner really needs 25K that he doesn't sell the house in seperate elements and holds on the land, or just holds on all of it until better days. Besides the 250 or so usd house sale advertisement has me wonder how serious this all is.
Weird
kabul is an example of what happens when there is an outlandish shortage of supply. it was not meant to show that the two cities are polar opposites or are parallel in anyway. my recollection is that there were additional costs of $150,000 to connect water or electicity. this cost was a total fixed cost whether you were connecting 1 apt. or 10 apt.
LV is a dump. All the money goes into the strip and never leaves the strip. The moment you step out of sincity it is all a dump.
Quote from EdwardMBlake:
Put in an all cash bid at 15% discount in a nice building unit that you want to own, with a one week expiry, and wait for a desperate guy or bank to hit you. If they don't then the bid expires and you place the same extorting bid in another building that you like. Or go around banks in the area and speak with their RE foreclosure departments and offer them to relieve them of one of their "problems"...for a price. Aim at 15-25% instant profit depending on the unit.
Thanks for the useful advice Edward!