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Considering the idea of moving to LV

Discussion in 'Living in Sin (City that is)' started by Funkhouser, Sep 12, 2012.

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  1. Funkhouser

    Funkhouser In Charge of the Big Door

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    I have the benefit of a job which allows me to live anywhere in the US.
    My wife is not happy in her career, and the winters here in the midwest are not attractive.

    We are kicking around the idea of relocating to a real estate market where we could get more house than what we have now, or even lower or mortgage.

    FL and NV are attractive as well since there are no state income taxes, although I have heard property is a little higher. Wife hates her job and we are financially in a position where she could afford to make a career change or just do volunteer work in some type of animal related industry.

    Couple of questions:

    Where we live now is a middle class suburban area, low crime, homes are cheap $150K for a 4 bdrm 2 bath split level around 1700 sq feet.

    What area would be comperable in the LV valley?

    What about flooding? Seeing the news last night I was surprised to see a lot of water in neighborhoods. Is most the valley at risk of flooding due to flash rain storms?

    Recreation and shopping nearby. I would love the idea of having a boat and being able to hop in the car to cruise on a lake or river. Is Lake meade the only option?

    Lastly, how bad is the heat really? Wife is aprehensive about moving to a desert climate. Personally I think everywhere has AC so its not that bad, although I have never see the electric bill to cool a home in LV.

    All comments appreciated.
     
  2. BrendanMc

    BrendanMc Tourist

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    Having never lived in Vegas I would be of no help to most of your questions, but I can answer this one as I live in the Phoenix area.

    No, the heat is not that bad. Like you said, everywhere has AC so there is always an escape, and I would assume your home would have a pool. That being said, on the days when it is excessively hot (110+), any minor outdoor activity can become unbearable quickly. If your lifestyle doesn't require being outside a lot, then it is not a problem.

    People tend to only focus on the 3-4 months when the temperature is 100+, but forget about the rest of the year when the temperature is PERFECT.

    I would imagine that a summer time electric bill for a 1700 sq ft home would be $200-300, or more depending on if there is a second level.
     
  3. Turtleman

    Turtleman VIP Whale

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    We've been toying with the idea of moving to Vegas for some time now. Visiting from Atlanta nearly every month is getting old and there are no compelling reasons to stay here. Actually, Ms. Gecko's been the driving force behind a possible move and has spent countless hours researching areas to live and looking at homes on the Internet. (Yes, we've seen some in Vegas too.) I'm not quite as convinced and have been trying to keep an open mind – which for me is a stretch. Fortunately, another board member who lived in Vegas before leaving for "greener pastures," was kind enough to give us the benefit of his experiences and pass along the following link: www.casinotop10.net/10-worst-things-about-living-in-las-vegas-1.shtml

    You might want to go here first: www.casinotop10.net/a-geography-lesson.shtml

    After almost 90 trips, and having spent some time with locals away from the casinos, we think we have a fairly clear picture of the "rest of the city." We realize it's not necessarily the Garden of Eden, but thought we could cope with the downsides. Evidently, there's more to living in Vegas than just the weather.

    Surprisingly, once Ms. Gecko read the above links, she did a total about-face and immediately abandoned any thoughts of moving to Vegas! She said she was already aware of most of the negatives, but somehow reading the material was like a slap in the face reality check! I think such a quick reaction is a bit on the nutty side, but in any case, she's now looking at much more sane retirement places (like where wouldn't be more sane)!

    Did the links scare us? You bet they did - though we could still end up there!
     
    Last edited: Sep 13, 2012
  4. Someone

    Someone High-Roller

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    I would say this needs to be thought through thoroughly

    if you have kids (it sounds like you don't or they have moved on) I would probably say no right off because the schools in Vegas are not great and probably not getting better in the immediate future

    if you need your house to hold some value for the future I would say no or perhaps consider renting for a year or two until things shake out further and or until you really get a feel for where you want to live......renting for 6 months might be a good idea even just to get a feel of where to live

    right now the stories I am reading is that people with a mortgage/bank loan that requires month long closings along with appraisals and the other things that go along with a mortgage are losing out pretty much every time to cash buyers and sometimes they are losing out to cash buyers after making a higher bid than asking and even after making a higher bid than the cash buyer

    Vegas has a TON of zombie foreclosures right now that might not hit the market for 2 years or more and when they do finally hit the market it will kill any momentum housing prices might have or it could drive values even lower

    for those that do not know what a zombie foreclosure is it is a house that is usually vacant and the owner has walked away and left it and the bank is going to take it back, but because of the lack of proper paperwork and documentation with the original loans and because of new foreclosure rules in some states (Nevada being one of them) and because the banks see little chance of selling the house any time soon they are not actually foreclosing one them they are just letting them sit there and rot and trash out the neighborhood while they wait to get their crappy bank in order, their crappy bank mortgage department in order, the laws to change yet again or expire (for some states that passes short term foreclosure laws), and for home prices to stabilize or even move up a bit

    the easiest purchase for someone with a mortgage is a new home which Vegas does have some new home construction coming back right now

    and in Vegas this does not even include those stupid massively over priced condos :faint:

    so you have difficulty buying an existing home against cash buyers that are running up the prices, you have thousands of existing homes sitting around rotting waiting for the bank to clear up the title and go through the courts for foreclosure (and junking up some neighborhoods)and you have new homes being built to capture some of the market that can't get into an existing home....not a great sign for a home as investment and then you have all those stupid condos :wave:

    while I am sure many that live there will say to is easy to get away from the "Vegas lifestyle" and live a normal life (and it probably is to a degree) I don't think that is 100% true....you will still have drinks on the road 24X7, Vegas is still pretty much a one industry town (and an industry that will suffer if the economy suffers more), and you still have pretty much a 24X7 job market......with casinos open 24X7 and pretty much everything else open 24X7 to serve the casinos and the casino 24X7 workers that means that if your wife even wants a part time job to get out of the house or for extra income it might be difficult if she is not willing to work odd hours (unless she teaches or is in a few other specific career areas)

    plus you read stories of the Vegas neighborhood home rentals (that has to be great to live next door to) and just about everything else.....if your neighbor likes to work on cars and works odd hours in the 24X7 Vegas lifestyle then he might be working on his car or any of his other hobbies in the off hours as well...lets face it locals casinos are not always locals totally, but a large number of them are for a large number of locals......and they are open 24X7 and do business 24X7....which means people that might be in bed other places are coming and going at all hours of the night in Vegas regularly....if that is for you more power to you, but if it is not then I think you might get a great deal more of it in Vegas than many other places

    and as far as middle class living in Vegas....I see Vegas as the place that would easily go to the most "have and have not" and "lack of a middle class" of any place in the USA if there are further major economic issues in the USA

    so for me if I had kids I would not even think about it.....if I needed my house to hold value or even have some value in the future I would probably not do it.....if I thought I was going to "do Vegas" and then drive a few miles home to Mayberry @ Vegas I think you will be getting a lot less Mayberry and a lot more Vegas (if that is what you want all day every day then great).....if I did not have the financial means to be able to up and walk away from a home investment with little or none of my investment back to live in a better area if the economy declines further, if your job as the bread winner does not bring in as much bread, if casino gambling collapses, if the Vegas housing market takes another hit, or is online gambling and locals casinos in other states keep killing Vegas then I would not do it

    because I see little chance that Vegas will move away from being a one trick pony and I still see the casino companies undercutting themselves and their investment in Vegas and the employees of those investments especially the lower end ones that can least afford to take a hit or get laid off and the ones most likely to already be renting or to have little investment value in a home and the Vegas housing market has a number of issues even if the economy slowly rebounds and casinos stabilize and become better managed especially in regards to their major investments in Vegas

    not a good idea IMO unless you can afford to come, see, live, and walk away without any equity you put in a home especially
     
  5. captainron62

    captainron62 VIP Whale

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    I had a very attractive job offer in LV in 2004, and remember in 2004 they were still printing money in LV and it was considered a very lucrative area in which to work. I did a considerable amount of research which included talking to what would be my colleagues and co workers. I ultimately decided against it due to considerable quality of life issues, many of which are included in the column that was linked by the OP.

    I do think the writer of the "Top 10" list took considerable poetic license and obviously has a flair for dramatic writing, lots of the points are valid. LV was originally built as a gambling destination, get in, get out. Obviously it was poplulated before the gambling days, but lets face it there are no message boards or travel sites for Pahrump. LV is LV because of the gambling and partying.

    In my selection in 2004 out of the three cities I actually had Miami rated ahead of LV for quality of life.

    Also, there are two concerning articles in the LV SUN today, one states that foreclosures are again on the rise. The second article states that nearly 1/3 of LV residents use pawn shops, pay day loans, etc as a form of banking. The first article is not suprising, the second is very disturbing.
     
    Last edited: Sep 13, 2012
  6. vegasbound

    vegasbound Moderator

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    Life anywhere is what you make of it. Some places just make it easier to live the life you want.

    I've lived in Las Vegas for nearly a decade. Prior to the move, I lived in Chicago. Life in Vegas was a dream before reality. We moved without jobs, savings, we were young and had nothing to lose... I have weathered the highs and lows. There is still no place I'd rather live. I visited family in Chicago last week and I was miserable. You couldn't pay me million dollars to move back. I love to travel, and every place I visit I think "can I live here?" I haven't said, "yes" yet. San Diego at least gets a "maybe?" but cost of living is higher and I'd have to give up off-road adventures and my pool. California laws are too strict to enjoy what I love. While I love seeing the ocean, but it's too cold to enjoy, and I'd never afford a lot with a pool. May Grey and June Gloom might just kill me too. I need sunshine. Copious amounts of sunshine.

    When I moved to Las Vegas my top three reasons were weather, location and opportunity.

    I still think they are the greatest aspects of life in Vegas.

    Living in the midwest, it was freezing Oct-Mar. Sweltering Jun-Sept. That's eight months of misery. We'd be left with four months of decent weather. We just had to hope that floods, tornadoes, heat waves or freak blizzards didn't strike. Most years, you might be left with two ideal months of weather, which at least half of is filled with cloudy days. So, there is really only 30 or so beautiful days. Chances are they'd never fall on your day off. Said and done you might only enjoy one week a year. Better hope that's not when you planned vacation.

    Weather in Vegas really only hot three months a year. A/C makes it completely bearable and even though the days are scorchers the nights are beautiful. Our rain falls in the summer when it's hot. So, it doesn't often affect us the rest of the year. We have two months that are cold. Some may even argue that they're not really cold, but I'm a wuss and I don't like highs in the 50's. So, that's five months of hot and cold. That leaves about seven months of nice weather. We have strong winds in spring and fall, in my opinion the worst part about living here, weatherwise. Taking that into account we have about five months of perfection, and our cloudy days are those with blue skies and white puffy clouds.

    Location, I grew up in the SW 'burbs of Chicago. It was a 20 minute drive to the city with no traffic. Traffic could means hours. To visit anywhere else you'd find nothing but corn or prairies in 8 hours in any direction. Family still tells me isn't all the green beautiful? Green? It's nothing but a bunch of overgrown weeds, broken up by lines of planted corn.

    In Las Vegas sure we're surrounded by desert, but we have access to the ocean, snow in the mountains in less than 3.5 hours. You can experience practically every terrain in four. We love the outdoors and with our climate we can enjoy it more than half the year. While it is icky here, we travel to neighboring states to warm up or cool down.

    As for opportunity, when we left Chicago my husband was laid off, I quit my job of 5 years, after all those years I didn't even clear $10/hr. If I wanted to make a decent wage, I'd have to travel to the NW burbs and deal with long and costly commutes. My family that remains struggles. Those that are employed constantly face strikes and layoffs. Sadly, majority work odd and ends jobs to make ends meet. If I stayed, I probably have 15 years I might clear $12/hr. If I were really lucky.

    In Las Vegas, we had nothing lined up ahead of time, but we both had multiple offers within two weeks. We are both with the same employers today. We started in entry level positions and we worked our way up to management. We make good livings that allow us to travel and take advantage of all the wonderful things Las Vegas offers.

    That said, Las Vegas is not for everyone. You need to be flexible and disciplined. The city is filled with vices that can bring you down if you let them. If you won't compromise it'll be hard to get ahead. Be upbeat and ready to work and you'll go far. Unemployment is still very high in Nevada, but I believe much of it is by choice. People don't want to work $10/hr jobs + tips. Don't rush to buy property. I did, I bought and lost on three properties. I rent now and have no intention of buying again. Unless I could pay cash and buy it outright.
     
    Last edited: Sep 13, 2012
  7. vegasbound

    vegasbound Moderator

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    You could get more sq ft for that price in Spring Valley.
    Flash flooding occurs during monsoon season. This is my 10th rainy season, only three years have bought damaging floods. That's really the only natural disaster we worry about. Those who live in flood channels are required to buy flood insurance. There is some risk for others, higher for those on the east side where elevation is lower and water naturally travels. One year, 03 I think? the NW had flooded but they've since built retention channels to help control water flow.
    Lake Mead is most popular. If I had a boat, I'd probably go to Cottonwood Cove on Lake Mohave, it's not much further (well depending on where you live) and it's far less crowded.

    You will adjust. After your first summer cool temps will feel colder and heat won't seem so bad. You do go from A/C to A/C all day long so as long as you don't work outside for living you really are unaffected. Summer electric bills are high. My 2,600 sqft home with two A/C units is $280+ during the hottest months.
     
  8. suecasey

    suecasey Low-Roller

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    I, too, was in Chicago last week visiting family (in Deerfield -- northern suburbs). It was beautiful -- good weather pretty much the whole time. There was one thunderstorm, but it was while I was sleeping at night, lol.

    I've lived in Vegas nearly 7 years, and I miss Chicago -- except for the winters. One thing I miss is all the trees -- huge trees, with trunks too big to reach my arms around.

    We don't get flooding in North Las Vegas where I live. Most flooding seems to be in Henderson, usually.

    I live in a 3-bedroom home, 1,424 sq. ft. My highest electric bills this summer were around $150. Not too bad.
     
  9. blackjacknut

    blackjacknut VIP Whale

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    I've never lived in Vegas but come on, I think the one article was a little harsh....a "police state"....if you live in a neighborhood full of drug dealers or a house that was once owned by a drug dealer then you should expect some police intervention. Like I said I have never lived in Vegas but have spent enough time in Vegas. I just think the one article was a little over the top in my opinion.
     
  10. smartone

    smartone VIP Whale

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    I love my visits to Las Vegas, but could NEVER be happy living there... in addition to much of what has already beed stated, I've never seen a place where seemingly everyone of a certain class of people lurk almost everywhere and watch what you do. I feel like I'm being "cased" every time I get out of a car to go in somewhere. I'm a large guy and not easily spooked, but in Vegas I NEVER let my guard down when out and about. There's just sooooo many out there tryin' to get their hustle-on and steal from others... it's Bad there.
     
  11. momto3

    momto3 Newbie

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    I live here and love it

    I'm surprised to read a lot of what is on this board from people who don't live here, or think the strip represents living in Las Vegas.

    First, home prices are great, but everyone is trying to buy. Deals can be found, but it take some time and a lot of homes are in need of a lot of repair. It can take some time to find a good place. Prices are good though.

    It is hot here for 3-4 months per year, Indoors is fine, outdoor time should be limited. The rest of the year is beautiful.

    Lots of stuff to do besides the strip, check out websites geared toward locals www.lasvegasfamilytime.com/ or this one http://vegasfamilyevents.com/.

    Flooding is not much of an issue, our ground is hard so water does not soak in. Water damage is rare, I've never had or seen a problem and I'm on the west side of town. While looking at homes, you can ask your agent about what areas of town to avoid. I'm not sure where they would be though.

    Lake Meade and the surrounding water is great, Lake Havasu (sp?) in Arizona isn't too far either.
     
  12. billduhcat

    billduhcat Low-Roller

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    Maybe move closer to LV, eg) Phoenix? Air fare on Southwest (for example), is only 160/round trip for a Fri-Sun flight in 2 weeks. Combine that with the comped rooms I'm sure you already get, and I think you would get 95% of what you're looking for, and much less of the downside discussed earlier.
     
    Big Game 2017 == Vegas XXVI
  13. jrinct1

    jrinct1 VIP Whale

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    There is a LOT to consider.......I did consider it few years back ( call it my mid life crisis...LOL!!) andat SOME point WILL move out of CT.. grown VERY tired of the northeast lifestyle( the ultra liberal mentality, high cost of living taxes , fast paced lifestyle crappy weather, know it all people, etc.. ad nauseum) at some point but NOT to a "gambling " town, although NV does have its positives. But my move will not happen for at least a decade... if not more.
     
  14. ken2v

    ken2v This Space For Rent

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    With any move, you need to critically and rationally assess the what, why and how of both the push and the pull; you gotta wanna leave and you gotta wanna go.

    We made one serious and one lesser run at relocating to Vegas some time ago. Obviously the move never came. There were both professional and personal/aesthetic reasons why, and on both we didn't feel we were gaining anything in Vegas over what we had in So Cal. What we really enjoyed about the valley we could enjoy during our visits, and we avoided what didn't appeal to us -- traffic, weather, bad land-use planning, relative isolation -- some of which we already had in So Cal. We knew we'd leave So Cal at some point, even wanted to (and lo and behold we did).

    My job can be done anywhere. Vegas simply did not offer the professional outlets and steps for my wife's career, even as a stepping stone to a subsequent change. Lacking the lifestyle attributes that go with the career side of a move, we passed.

    Gobs of people are happy in Vegas, and understandably so. There are people who are miserable in, say, San Diego. So of course one size does not fit all.

    Something that all relocators should keep in mind: You never really know what you are gonna get until you get there. Our relocation happened over a relatively short span of time, and we never in a million years would've sat around planning to end up where we did, which obviously is a far bit different than those who plot for years as to how to get to Vegas (or wherever). Ain't a place in the world without warts. But, wow, how the lifestyle leaps of this career move paid dividends we never imagined. I don't know that we yet have a terminal locale in mind, though we have plenty of places we think we like, and I can see a couple more steps with career being the primary driving force. But when you are open-minded, adventurous and a bit of a risk-taker, you can end up in some pretty cool places.

    For many, that is Vegas.
     
  15. vegasnut

    vegasnut Low-Roller

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    Yeah vegas is cool to be for 3 weeks but not more
    Also its too hot in the summerperiod
     
  16. vegasnut

    vegasnut Low-Roller

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    I must say that although its hot in the summerperiod its doable as its dry heat and not humid which i hate

    If people considering moving to vegas you have to have self discipline concerning the gambling
     
  17. ajonate

    ajonate Low-Roller

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    It's not so much the price, it's the financing. About 60% of Las Vegas home sales are still cash. Mortgage purchases are difficult to make. In this market you'll need to prequalify your mortgage so you can move as quickly as cash customers.

    I had the advantage of having cash, but the competition was still difficult. Houses are selling for way above asking price. What I did was to go to the trustee sale, which is the public auction for foreclosed homes. I attended for about 2 months before I found what I wanted for the price I wanted to pay.

    They sell between 300 and 700 residential properties every day, averaging around 500. About 95% of the houses revert to the bank because nobody bids the minimum that the bank sets, but really great deals are there every day. You'll have to research the properties online before you bid. I did it all online. I looked at the houses with Google Street View, checked online for liens at the recorder's office, looked for back taxes at the treasurer's office, and got the particulars about the house at the assessor's office. I usually prequalified about 50 houses for each auction day.

    The residential auction starts at 10 am every day in front of the Nevada Legal News building, 930 S. Fourth Street. The auction runs until they get through calling all the properties, usually until around 2 pm or so. You'll need to subscribe to the Nevada Legal News online service to know which properties are coming up for auction the next day. Bring your own lawn chair, you'll need it.
     
  18. TomTWI

    TomTWI High-Roller

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    This is very good info. I'm not going to do it but I always wondered how it was done.

    Thanks

    TomTWI
     
  19. jon95616

    jon95616 Low-Roller

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  20. ajonate

    ajonate Low-Roller

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    I don't know that I can agree with all of that, but I understand why he wrote what he did. Conditions in Las Vegas are difficult right now.

    What he's missing about employment opportunities is that a not-so-small contingency of retired people is drawn to Las Vegas. Mostly they come from California where real estate prices are much higher. Those people can sell their California homes and buy a similar Las Vegas home for a lot less, leaving them with six-figure nest eggs.

    Retire people don't need employment, and even create jobs by their very presence. I expect the retired population in Las Vegas to continue to grow. After all, this is the senior citizen discount capital of the world.
     
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