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Considering the move.....Things to think about

Discussion in 'Living in Sin (City that is)' started by IWannaBeInVegas, Dec 16, 2012.

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  1. IWannaBeInVegas

    IWannaBeInVegas VIP Whale

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    With the recent passing of my father and not having anything left here in my home state of Ohio, I have been considering relocating to Vegas, which has been a dream of mine since I was a child. I know it would be a huge step, and I am not taking this lightly nor am I planning on doing anything for anther 1-2 years which should give me a chance, as long as things go well at my job to grow a small nest egg. The only thing going for me locally is I do have a house that is paid off and its free and clear mine.

    I currently work security in a local casino but have put in for a transfer as a table games dealer, that will more than double my income with tips and would give me some experience that I think would help me gain employment in Vegas. Not sure what the deal is but I was looking at housing in Vegas and it seems that some really nice newer homes are going for really cheap, not sure why, but its really peaked my interest of moving since I would be able to sell my house and buy one with cash there.

    As for kids, I have a 16 year old who chooses not to see me, I have custody of my 11 year old and my ex-wife has our twins in Texas so it would just be my 11 year old and I moving, he would be around 13 when I would choose to make th trip.

    Anyone have any insight on things like why such nice houses are so cheap and what are some other considerations I should think of?
     
    Tentative Arrival
  2. NickyDim

    NickyDim VIP Whale

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    There were 10s of thousands of home in default but the market is improving and improving pretty fast. We bought our retirement home off Cheyenne in Lone Mountain/Summerlin in June. I was looking for about a year, 2 months very seriously. Retirement is about 3+ years away, but the costs made us figure out a way of getting our hands on a nice home now.

    Make sure you get a nice neighborhood, but basically South of the 215 and east of 15 is Seven hills, Anthem, MacDonald highland and Henderson, but stay west of 515.

    Or you can stay south of blue diamond in southern highlands, Mountains edge in the extreme south west part of the valley, or anywhere on the west (west of Rainbow, but west of Apache is prime.) Your son will be a very impressionable age so finding a nice community away from the temptations of the fast lane is important.

    We bought a 3 BDR 2bath ranch in mint condition for $74 sq ft in June, but now it's more than $90 sq ft, still a good deal for a home, but there are fewer for sale and they go pretty quick. We're renting ours until we can relocate.

    Good Luck.
     
  3. IWannaBeInVegas

    IWannaBeInVegas VIP Whale

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    Thanks for the info. I hope to have a plan in the next few months, going to do lots of research, I am only 34, so I feel I have time but I want to make the decision and not regret it later. Lots of things to consider and think about.
     
    Tentative Arrival
  4. tominiowa

    tominiowa High-Roller

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    You may consider the centenial hills area or the henderson area with a 13 year old. Take a close look at the schools before you buy.
    Houses have gone up 10-20 thousand from the low but are still low. Cash buyer is a must as they always have cash offers and
    tend to shy away from financed offers. I have purchased 4 since March of 2010. I think they are close to be out of the great buy
    then rent out ratio I want. Rentals will lower and you may consider that till you learn the town better and get settled in.

    Beautiful 2000 sq ft plus homes with pools can be rented for 1500-1600 with pool and yard maintanence paid for. Repossed homes
    can have some hidden problems since you are not buying from someone who lived in it. And many times buying a home where the
    previous owner was mad when they moved out. Get a very good home inspection done.
     
  5. vegasbound

    vegasbound Moderator

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    Home prices are rising, but they are still quite cheap. The housing bubble really did a number on Las Vegas. Homes on every block have been short sale or foreclosed. Investors have been buying up property for the last few years which is what has caused the upswing. Many people, including myself, rent homes. When the market went bust, I was selling my condo and buying a house. Talk about poor timing! I foreclosed and shortsaled, and I now rent from Chinese investors that purchased my home short sale. My rent is considerably less than my mortgage was and I could have sat in that home for 40 years and probably still been underwater. It's messed up, but it has been ideal for many with good timing.

    Take a good look at schools and choose where to live based on those results. Our public schools are notorious for low graduation rate, but there are a few winners that rank highly. Our private schools are top notch, if you'd be interested in that route. This is where the celebs and big wigs send their kids.

    Gaming experience will certainly help gain employment upon your arrival. Coupled with security experience, as long as you are upbeat and positive I have no doubt you'll find work quickly. Caesars will be opening a casino in Cincinnati this spring. If you happen to be nearby, you could get in there and then apply for a transfer.
     
  6. rbspartan

    rbspartan Low-Roller

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    Since Hollywood Casino in Columbus and Toledo are owned by Penn National, maybe they could help facilitate a transfer to M-Resort when you are ready to make the move.

    Good Luck
     
  7. 3cats

    3cats High-Roller

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    since the child will be school age at the time of the move, I would recommend searching for a school first, that fits your needs as his parent. Then look for a neighborhood around that school. just a thought.
     
  8. MikeOPensacola

    MikeOPensacola VIP Whale

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    I am considering a move to LV but I've been reading a lot of stories about crime in LV being a major problem. This is a major concern of mine.
     
    Annual Summer Bliss in the Land of Milk and Honey!!!
  9. tominiowa

    tominiowa High-Roller

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    Any major city has it good and bad parts of town. Las Vegas is no different. Crime is usually higher also when the economy is down.
    Las Vegas economy is lower than the average in the USA today.
     
  10. TomTWI

    TomTWI High-Roller

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    We bought a condo 18 months ago. Before we did I checked police records for the area. The condo also has security, gated etc. What I bought is up about 25% I'm guessing. Sunset Rainbow area.

    You can still get 2 bed 2 bath in nice condo communities for around $70. For the OP if I were you I would consider buying a condo now. Rent it out until your ready to move. The cash flow is still there although I see some softness in the rental market I think it would pay for itself.

    TomT
     
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