Thinking about moving to Vegas - thoughts?
Quote: AZDuffmanMany condos do, but they are small and just hold the car for the most part. Point is it is not like a house with a garage where you might do regular projects.
You really have no idea what you are talking about here. Many Vegas Condos have two and three car garages. I even looked at one that each unit had a three car garage plus a pull down stair ladder into a loft/attic.
One member here uses his two car garage as a workshop for his carpentry hobby.
Perhaps condos with garages are rare in other places but not in Vegas.
Quote: AZDuffmanBut an issue on a condo is if the HOA decides to make improvements and charge extra you gotta pay. If the HOA defaults you are liable.
And now if my fancy garage floor needs to be redone. $3k
Roof. $15k
AC unit. $3k
Sewer line. $6k.
Etc.....
Maintaining a house is not cheap.
Quote: SOOPOOYou do realize that if it was 100% sure that you would repay the loan, paying 2% over say the next year, you would get access to thousands of investors willing to loan you that million. The federal government, who can just print more money, only pays less than 0.25% now.
Your premise is that Ace2 will need to invest in stocks, or bonds that carry default risk. I agree with you that doing so the EV is substantially over 2%. But comes with substantial variance.
I am retired.... and depend on the income from my saved money like Ace2 will. Exactly what % to ‘depend’ on is a very complicated decision.
As far as condo versus house.... condo fees are X. Upkeep on a house is Y. Sometimes X>Y. Sometimes Y>X.
I've been living off the income my nest egg generates since 2015. Some of it is locked in, some of it varies. I made a decision years ago to buy ATT stock. While I know what I paid for it, it doesn't really matter, nor do I care what it is selling for today. All I care about is it pays about $16,000 a year in dividends and has never lowered them. Now that I hit 62 and will start getting SS in two weeks, I have my basics covered. $30,000 a year without touching my principal means I should never have to live near poverty, nor outlive my money. I currently have several other income streams and even though I strongly suspect I have much more than I'll ever need, I still try to save 15-20% of my income.
In Eighth grade, we learned in school that one's retirement should be a three legged stool, with SS as one of the stools. I remember telling my uncle that and him laughing. He said picture retirement as a Viking ship with many oars in the water. Build your ship, man the oars and when you hit the open ocean let the sails do all the work.
You are about the same age as me. Just because you retired from being a Doctor doesn't mean you can't earn more money.
My Cardiologist retired a few years back, was always into classic British sports cars and soon realized he could make serious money by flipping them. While I'm sure he isn't making anywhere near what he did before, he enjoys it, it pays for a couple vacations a year and instead of drawing down his retirement funds, they are still growing.
Quote: billryanInvestors Business Daily had an article on Monday about how to get $100,000 a year out of a $1,000,000 nest egg. They offered several options and the worst came in around $60,0000 a year and the best was about $120,000.
All presuppose no market severe downturn. I far exceeded both those rates of return last year. I in no way would expect to do that again this year.
Your AT &T example... What if you had picked Boeing? Or Delta? Or GE? Or Citibank? All 4 of those a few years back seemed invincible, with good dividend pays. My point is ANY stock has some risk.
Some people are naturally entrepreneurial (you). Some are not (me). I was REAL GOOD at running my anesthesia group, maximizing income, negotiating contracts with insurance companies, hospitals, surgicenter, etc... But I don’t think I’d want to put the effort and work into flipping cars... or comic books... or real estate....
I planned on saving X. With a pension of Y. And living off the combination of income generated from X + Y. Add SS at some point. I’m there.
If you have a minimum 30 year timeline, you MIGHT be able to get that average 10% per year in the stock market, with several negative years. 8% is more realistic, call it 5% after inflation. However, that is for a young person, not a retiree with a shorter timeline and a large portion of his portfolio in very low-risk fixed income (on which he earns close to zero )Quote: billryanInvestors Business Daily had an article on Monday about how to get $100,000 a year out of a $1,000,000 nest egg. They offered several options and the worst came in around $60,0000 a year and the best was about $120,000.
Wasn’t that the publication with the article about “positive EV” PowerBall jackpot ?
Sometimes I don't mind being in 107 degrees heat but not for days on end.
Then again, a lot of retired people like Palm Desert, CA which is just as hot if not hotter than LV but the ones who may afford it leave to their other homes during the summer months.
Quote: SOOPOOAll presuppose no market severe downturn. I far exceeded both those rates of return last year. I in no way would expect to do that again this year.
Your AT &T example... What if you had picked Boeing? Or Delta? Or GE? Or Citibank? All 4 of those a few years back seemed invincible, with good dividend pays. My point is ANY stock has some risk.
Some people are naturally entrepreneurial (you). Some are not (me). I was REAL GOOD at running my anesthesia group, maximizing income, negotiating contracts with insurance companies, hospitals, surgicenter, etc... But I don’t think I’d want to put the effort and work into flipping cars... or comic books... or real estate....
I planned on saving X. With a pension of Y. And living off the combination of income generated from X + Y. Add SS at some point. I’m there.
Congratulations . You had a plan,and a goal and you achieved it. You've retired with the assets you wanted. Now what? Playing pickleball and vacationing gets old fast, or at least it did for me. Everything in life comes with some risk. Being retired or semi-retired doesn't change that.
Quote: billryanCongratulations . You had a plan,and a goal and you achieved it. You've retired with the assets you wanted. Now what? Playing pickleball and vacationing gets old fast, or at least it did for me. Everything in life comes with some risk. Being retired or semi-retired doesn't change that.
I'm recently retired
Loving it.
Living the dream
I travel all over the country seeing everything there is to see. Been doing it for 6 months. Having the time of my life. I've barely scratched the surface. So much too see.
Short term heading to Utah for the national parks after I wander around Arizona.
Heard about a massive crater in NE AZ. Definitely want to see that.
I try to visit anything interesting including of course Bisbee. Nice town.
Quote: Ace2If you have a minimum 30 year timeline, you MIGHT be able to get that average 10% per year in the stock market, with several negative years. 8% is more realistic, call it 5% after inflation. However, that is for a young person, not a retiree with a shorter timeline and a large portion of his portfolio in very low-risk fixed income (on which he earns close to zero )
Wasn’t that the publication with the article about “positive EV” PowerBall jackpot ?
The stock market is one egg in a diverse basket. If you are an accredited investor, there are a myriad of better opportunities.
Stick with grandpas investment strategy and you should expect to live out your days as most Seniors did in the 60s and 70s.
If a large portion of your portfolio is in investments that earn close to zero, that's on you.
We are in the middle of a worldwide pandemic, unemployment is high, and a third of the country seems to want a civil war, but the stock market is setting new highs, real estate and housing prices are the best in a decade and sales in the collectible industry are through the roof. Does this seem like a good time to have your money earning zero? Perhaps you should think about why you are so afraid of risk?
It's well over a generation since savings accounts were worth owning, yet the vast majority of people have still them, and think they are a safe investment. You worked for all your money. Now let your money work for you.
I didn’t say I’m all in cash, nowhere even closeQuote: billryanThe stock market is one egg in a diverse basket. If you are an accredited investor, there are a myriad of better opportunities.
Stick with grandpas investment strategy and you should expect to live out your days as most Seniors did in the 60s and 70s.
If a large portion of your portfolio is in investments that earn close to zero, that's on you.
We are in the middle of a worldwide pandemic, unemployment is high, and a third of the country seems to want a civil war, but the stock market is setting new highs, real estate and housing prices are the best in a decade and sales in the collectible industry are through the roof. Does this seem like a good time to have your money earning zero? Perhaps you should think about why you are so afraid of risk?
It's well over a generation since savings accounts were worth owning, yet the vast majority of people have still them, and think they are a safe investment. You worked for all your money. Now let your money work for you.
I just think you’re way overestimating the amount of income that a million dollars can easily/safely generate these days. Call it 2 million instead since you will have to take on significant risk to get a decent return in any asset class. That way if your investments fall 50% then you still have a million
Btw a major reason the stock/housing markets are so high is because interest rates are so ridiculously low. You can afford a lot more house with a 3% mortgage than 8%. And if you could earn 8% in a risk free CD, there would be a lot less money pouring into stocks
Keeping interest rates too low for too long has gotten us into big trouble more than once. Might be causing another bubble now
Heck, around here, a million dollars could buy you ten duplexes each producing $10,000 a year in rentals.
Quote: billryanCongratulations . You had a plan,and a goal and you achieved it. You've retired with the assets you wanted. Now what? Playing pickleball and vacationing gets old fast, or at least it did for me. Everything in life comes with some risk. Being retired or semi-retired doesn't change that.
The non pandemic part was great! I think in those 7 months I took a cruise, a vacation to Puerto Rico, a trip to Vegas, a vacation in Florida, also went to DC, NYC, probably more I am forgetting. between then and now I played golf on nearly every day that weather and the law allowed. Pre pandemic played a lot of basketball as well. Gym nearly every day that i didn't play basketball. I plan on STARTING pickleball soon. I still do lectures for resident physicians, and do political advocacy as well. I'm certainly not busy now during the pandemic, but once things normalize I think I will continue to be quite happy.
My reading of your posts is that you had a plan, a goal, and you achieved it. Just yours is quite different from mine. WE can add terapined to the list. If I had to live out of an RV I think I'd go batty after a month. But he seems happy as can be.
Quote: DRichMy father retired at the age of 48. He worked in the school system for 27 years and they offered him full retirement to leave. He took it and hasn't work a single day in the last 38 years. My biggest goal was to retire at a younger age then he did. I failed.
Does he also receive Social Security? My understanding is many teachers only receive their pension but not SS (unless the individual also had another job during or after teaching that did participate in SS).
Quote: DRichI am thinking the San Antonio area might be perfect for me to retire. I think the weather would meet my criteria and they have a decent sized airport with a fair number of direct flights. When, or if, I retire I hope to spend at least 3 months a year in the Caribbean.
I lived in SA for many years. It is a great place to live. Airport is ok but most flights connect through Dallas/Houston/Atlanta. If I was to move back, a good spot would be somewhere between San Antonio and Austin like New Braunfels/San Marcos, then you have access to both airports (30-45 minutes away). Winters are mild, but with some hard freezes. Summers are also very hot in Texas (w/the humidity) and you will get the occasional severe weather events. Great food (bbq and texmex), friendly people, tons of pickup trucks, and of course no income taxes.
Back to Vegas. I have enjoyed it here.
I will provide some reasons not to move here. Don't move here if
-you are looking for super friendly neighbors (people generally tend to keep to themselves a bit). I would call it "guarded".
-you like always having the same doctor/specialist. I would describe the healthcare network of Vegas as adequate and not particularly strong. The transient nature of people moving in and out leads to many changes to health systems/health plans.
-you like the sound of rainfall. Heck there was thunder here the other night and the sound of it caught me by surprise.
-you hate windy days. The high wind days are not a lot of fun IMO and frequent enough to notice them.
-you hate the sun. Shade is in short supply (just ask terapined).
Quote: KeeneoneDoes he also receive Social Security? My understanding is many teachers only receive their pension but not SS (unless the individual also had another job during or after teaching that did participate in SS).
I have no idea if he gets SS. I would have assumed so but I have no idea. I would also assume that my mother gets a little SS as she worked for about 10 years.
Quote: Keeneone
I lived in SA for many years. It is a great place to live. Airport is ok but most flights connect through Dallas/Houston/Atlanta. If I was to move back, a good spot would be somewhere between San Antonio and Austin like New Braunfels/San Marcos, then you have access to both airports (30-45 minutes away). Winters are mild, but with some hard freezes. Summers are also very hot in Texas (w/the humidity) and you will get the occasional severe weather events. Great food (bbq and texmex), friendly people, tons of pickup trucks, and of course no income taxes.
I honestly haven't given much thought to San Antonio but off the top of my head it seems pretty good. I definitely need to be a lot closer to the airport than 30 minutes. Without knowing the neighborhoods I would try to be within 15 minutes.
Quote: Keeneone
Back to Vegas. I have enjoyed it here.
I will provide some reasons not to move here. Don't move here if
-you are looking for super friendly neighbors (people generally tend to keep to themselves a bit). I would call it "guarded".
-you like always having the same doctor/specialist. I would describe the healthcare network of Vegas as adequate and not particularly strong. The transient nature of people moving in and out leads to many changes to health systems/health plans.
-you like the sound of rainfall. Heck there was thunder here the other night and the sound of it caught me by surprise.
-you hate windy days. The high wind days are not a lot of fun IMO and frequent enough to notice them.
-you hate the sun. Shade is in short supply (just ask terapined).
I would agree with all of this and add don't move to Vegas if you have an addictive personality. 24 hour gambling within 5 minutes of your house can be dangerous. Also 24 hour alcohol within 5 minutes of your house.
Quote: DRichI have no idea if he gets SS. I would have assumed so but I have no idea. I would also assume that my mother gets a little SS as she worked for about 10 years.
I honestly haven't given much thought to San Antonio but off the top of my head it seems pretty good. I definitely need to be a lot closer to the airport than 30 minutes. Without knowing the neighborhoods I would try to be within 15 minutes.
I would agree with all of this and add don't move to Vegas if you have an addictive personality. 24 hour gambling within 5 minutes of your house can be dangerous. Also 24 hour alcohol within 5 minutes of your house.
I was a bit concerned about it. I didn't want to end up being the guy playing slots at 7-11 at 3AM but I found it surprisingly easy to refrain from most vices. My dog kept me pretty grounded.
Quote: jjjoooggg
I live in the most boring part of the US, South texas.
You've never been to Florida, then.
Visit there, it will cheer you up
about Texas.
Quote: Keeneone
Back to Vegas. I have enjoyed it here.
I will provide some reasons not to move here. Don't move here if
-you are looking for super friendly neighbors (people generally tend to keep to themselves a bit). I would call it "guarded".
-you like always having the same doctor/specialist. I would describe the healthcare network of Vegas as adequate and not particularly strong. The transient nature of people moving in and out leads to many changes to health systems/health plans.
-you like the sound of rainfall. Heck there was thunder here the other night and the sound of it caught me by surprise.
-you hate windy days. The high wind days are not a lot of fun IMO and frequent enough to notice them.
-you hate the sun. Shade is in short supply (just ask terapined).
Such a short list. Don't move if you:
Don't like tourists.
Don't like seeing homeless people every day.
Don't like traffic.
Don't like brown as the principle background color.
Don't like walking a lot.
Don't like high crime cities. Vegas has a crime rate 62% higher than average other US cities it's size.
https://www.lasvegasadvisor.com/question/vegas-crime/
Quote: billryanYou really have no idea what you are talking about here. Many Vegas Condos have two and three car garages. I even looked at one that each unit had a three car garage plus a pull down stair ladder into a loft/attic.
One member here uses his two car garage as a workshop for his carpentry hobby.
Perhaps condos with garages are rare in other places but not in Vegas.
Then you are not talking about a condo, you are talking about a townhouse. A condo is like an apartment and thus any garage is detached. An attic in a condo is impossible as it would go into the unit upstairs.
Probably not legally this way but in my mind if you live an a SFH where an HOA is required you essentially live in a detached townhome.
Quote: mcallister3200The distinction between a townhome and condo, regardless of what the outside looks like or structure of building is, at least in Minnesota, comes down to land ownership rather than what the structure looks like. If you technically own that .04 acres or whatever it sits on and a proportional amount of the common areas it’s a townhome. If the land is technically yours it’s a townhome. If it looks like a townhome but you have 0% ownership of the land it sits on it’s a condo. I’ve seen few multistories technically classified as townhomes and many townhome style homes legally classified as condos.
Probably not legally this way but in my mind if you live an a SFH where an HOA is required you essentially live in a detached townhome.
Any condo I have dealt with you have a proportional share of the common areas. About once a month I get a legal question if something is a condo or a townhouse. Usually we change the term if the lender demands it as the legal description is what matters to us. Unless it is a co-op which is rare and I do not think we even handle. Never buy into one of those, you are asking for headaches.
I have never heard of a person that lives in a townhouse call it a condo. Or vice versa. The common terms are understood. To say a townhouse is a condo interchangeably is like a guy I worked with insisted you could call a split-entry home a split-level. They are not the same thing. He got worked up about it when I explained the difference.
Quote: AZDuffmanAny condo I have dealt with you have a proportional share of the common areas.
I was referring to the land it sits on not the use of common areas. No argument about common usage of the term only the legal definition.
Quote: mcallister3200I was referring to the land it sits on not the use of common areas. No argument about common usage of the term only the legal definition.
Yeah, when you said "0% ownership" of land I took that different than you meant it I guess.
Just never buy a co-op.
Quote: AZDuffmanYeah, when you said "0% ownership" of land I took that different than you meant it I guess.
Just never buy a co-op.
Never use 'never'! Back in 1963 or so, my parents bought a co-op apartment in Queens. From what I can gather it was one of the first co-ops ever. They paid $500. A few years later they moved to another (bigger) apartment in the same development, and had to pay another $1000. So total investment $1500. By the 90's they were selling for nearly $300k. people who owned from the beginning, or nearly the beginning, only got 60% of the sale price and the co-op got the rest. This kept carrying charges (rent) relatively low. My mother sold, not at the peak, for around $200k, netting $120k. Not bad for a $1500 investment.
I just searched.... it would sell for between $350 and $400k now! I think that buyers and sellers do not have to pay the co-op that 40% anymore..... Pretty sure it is 'full equity' now....
Quote: EvenBobSuch a short list. Don't move if you:
Don't like tourists.
Don't like seeing homeless people every day.
Don't like traffic.
Don't like brown as the principle background color.
Don't like walking a lot.
Don't like high crime cities. Vegas has a crime rate 62% higher than average other US cities it's size.
https://www.lasvegasadvisor.com/question/vegas-crime/
I don't think that you have lived in Las Vegas. i rarely see tourists, I don't see homeless people regularly, I rarely get caught in traffic, I rarely walk anywhere. It sounds like you are viewing this based on the Strip. Most locals that don't work on the Strip probably only go there a couple times a year. It would be like visiting Disnet World and waiting in a line for two hours and then saying that Orlando is way too crowded and that you have to wait everywhere.
I do agree that it is very brown and ugly.
Quote: SOOPOONever use 'never'! Back in 1963 or so, my parents bought a co-op apartment in Queens. From what I can gather it was one of the first co-ops ever. They paid $500. A few years later they moved to another (bigger) apartment in the same development, and had to pay another $1000. So total investment $1500. By the 90's they were selling for nearly $300k. people who owned from the beginning, or nearly the beginning, only got 60% of the sale price and the co-op got the rest. This kept carrying charges (rent) relatively low. My mother sold, not at the peak, for around $200k, netting $120k. Not bad for a $1500 investment.
I just searched.... it would sell for between $350 and $400k now! I think that buyers and sellers do not have to pay the co-op that 40% anymore..... Pretty sure it is 'full equity' now....
I will say never. From what I have gathered the idea of a condo came from Puerto Rico in the 1950s. I thought co-ops were older but not for sure there. If you get into a co-op count on it taking twice the time at least to get a mortgage and the board can still refuse. If the co-op goes bankrupt I believe you could lose everything.
We had a co-op team, their part of the office I called "Co-op City" but nobody there got why. We were allowed to answer effectively no questions about them but once I got a resident on the line who worked for the state agency that dealt with co-ops. I get some story about someone's dog or some other thing the kind of story that was beauty parlor gossip and complaining. Yeah, never, ever.
There is a reason few cities allow them. And that some go condo conversion.
Quote: SOOPOONever use 'never'! Back in 1963 or so, my parents bought a co-op apartment in Queens. From what I can gather it was one of the first co-ops ever. They paid $500. A few years later they moved to another (bigger) apartment in the same development, and had to pay another $1000. So total investment $1500. By the 90's they were selling for nearly $300k. people who owned from the beginning, or nearly the beginning, only got 60% of the sale price and the co-op got the rest. This kept carrying charges (rent) relatively low. My mother sold, not at the peak, for around $200k, netting $120k. Not bad for a $1500 investment.
I just searched.... it would sell for between $350 and $400k now! I think that buyers and sellers do not have to pay the co-op that 40% anymore..... Pretty sure it is 'full equity' now....
I paid $19,000 for a co-op in Jackson Heights in the early 90s. It was a foreclosure that originally sold for $79,000 a few years earlier.
It's worth well over $200,000 today and is rented to friends for $1500 a month, which is well below the market rate.
Co-ops are very popular in NYC. In Jackson Heights, there is only one condo that I'm aware of.
In Nevada, I've yet to see a Co-op, just thousands of condos that mostly have crazy carrying charges.
The complex with the garages and attics was pretty unique, laid out so your front door was on the east side of the building and your neighbors would be on the west side. Your garage would be back to back with your neighbors while their apartment was on top of yours. The attics are on top of the garages. A former member lives in one, and I'm pretty sure several members here have visited it.
Quote: SOOPOONever use 'never'! Back in 1963 or so, my parents bought a co-op apartment in Queens. From what I can gather it was one of the first co-ops ever. They paid $500. A few years later they moved to another (bigger) apartment in the same development, and had to pay another $1000. So total investment $1500. By the 90's they were selling for nearly $300k. people who owned from the beginning, or nearly the beginning, only got 60% of the sale price and the co-op got the rest. This kept carrying charges (rent) relatively low. My mother sold, not at the peak, for around $200k, netting $120k. Not bad for a $1500 investment.
I just searched.... it would sell for between $350 and $400k now! I think that buyers and sellers do not have to pay the co-op that 40% anymore..... Pretty sure it is 'full equity' now....
I paid $19,000 for a co-op in Jackson Heights in the early 90s. It was a foreclosure that originally sold for $79,000 a few years earlier.
It's worth well over $200,000 today and is rented to friends for $1500 a month, which is well below the market rate.
Co-ops are very popular in NYC. In Jackson Heights, there is only one condo that I'm aware of.
In Nevada, I've yet to see a Co-op, just thousands of condos that mostly have crazy carrying charges.
The complex with the garages and attics was pretty unique, laid out so your front door was on the east side of the building and your neighbors would be on the west side. Your garage would be back to back with your neighbors while their apartment was on top of yours. The attics are on top of the garages. A former member lives in one, and I'm pretty sure several members here have visited it.
It pretty much gave people who had been renters some skin in the game where they paid a small fee and the longer they stayed, the more ownership they got. After a lengthy residence, they owned the whole thing and the building's previous owners faded away. It was a complex formula made possible by Federal loans and tax breaks. I think that system is now defunct but it resulted in thousands of renters ended up owning their apartments and helped a whole generation of people not eligible for VA loans to gain homeownership.
For reasons unknown, the kids who lived in my neighborhood looked down on the Mitchell- lama residents, an attitude that must have come from their parents. The original residents made out like bandits, ending up with apartments worth hundreds of thousands of dollars for a pittance. The only downside was it made you stay in the same complex or you lost your equity. An unexpected side effect was it kept white neighborhoods white as the residents tended to stay and protect their equity. Once the residents were there long enough, they could sell and many did, but the new residents were paying market price and for unknown reasons attracted a very large Asian population.
It seems to have been a pretty good program as the projects that went Mitchell-Lama are thriving today's where projects nearby that remained rentals are considered "ghetto".
Quote: DRichI don't think that you have lived in Las Vegas. i rarely see tourists, I don't see homeless people regularly, I rarely get caught in traffic, I rarely walk anywhere. It sounds like you are viewing this based on the Strip. Most locals that don't work on the Strip probably only go there a couple times a year. It would be like visiting Disnet World and waiting in a line for two hours and then saying that Orlando is way too crowded and that you have to wait everywhere.
I do agree that it is very brown and ugly.
Just don't live anywhere near Bonanza Ave
I once picked up my cousin at JFK as his flight from Australia to Ireland had a six-hour layover. I picked him up at rush hour, drove into Manhattan, and drove around Times Square, Central Park, and stopped for a moment at The Dakota before grabbing some hot dogs at a Papaya King.
I can only imagine what he tells his friends about what America is like.
Someone mentioned the people aren't friendly or keep to themselves. It is that way in a lot of cities. City folks do their own thing. In Philadelphia, I lived in the same 3 story walk up for 6 years and didn't even know any neighbors. Maybe a hi as you walk by. No names. No situations.
Homelessness. Yes Vegas has plenty. Again, no different than all major cities of late (and getting worse everywhere).
Weather, well of course. Las Vegas is in the desert. If you are someone who likes snow, maybe not for you (although I went snowboarding just yesterday up the mountain). If you don't like heat, again, maybe not for you. Although I don't find the heat intolerable. 105 degrees is like upper 80's or 90 back east. 115, yeah, that is getting warm and uncomfortable. But we only have a handful of truly 115 days. And you work your schedule around it.
Lack of green. (grass and trees, not money). This one does bum me out a little. There are parks and places you can go though. There is a little spot up near Alainte Casino, with a lot of grass, trees, pond ducks and geese. Sunset Park is big and nice and green. I play volleyball there a lot on sunday mornings. Everyone is welcome; I also like to walk the grounds of UNLV. It's beautiful and green. Will make you forget you are in Vegas and only a mile from the strip.
Traffic. I don't find it that bad. No worse than other cities except there is always a lot of construction. ALWAYS.
There definitely are good and bad neighborhoods, just like anywhere. One difference in Vegas is boy, that change from a good to bad neighborhood can be abrupt. It might be one side of a major street is decent, while the other not so much.
One thing not mentioned much is cost of living. Real Estate, both rental and purchasing is on the rise, but if you are coming from California, the east coast, or just about and major city, you will think Vegas real estate VERY reasonable.
Quote: kewlj
Someone mentioned the people aren't friendly or keep to themselves. It is that way in a lot of cities. City folks do their own thing. In Philadelphia, I lived in the same 3 story walk up for 6 years and didn't even know any neighbors. Maybe a hi as you walk by. No names. No situations.
There definitely are good and bad neighborhoods, just like anywhere. One difference in Vegas is boy, that change from a good to bad neighborhood can be abrupt. It might be one side of a major street is decent, while the other not so much.
I think this is a thing in the American Southwest in general as it was much the same in Phoenix. Cinder block fences in backyards. A few blocks from good neighborhood to bad. Part of this IMHO is how quick some of these cities went up. Developer has a 160 acre quarter-section to develop. They got developed uneven. In the east it was slower as farms subdivided over more time. Just how I saw it anyhow.
But the "friendlieness" is different. Phoenix was the same way. For the most part you do not know your neighbors and you do not care. People move in and out faster. Hot weather keeps you inside.
Other thing is property crime, it seems so much higher in the southwest. Various reasons. But it makes a "good" neighborhood bad.
Now back on the east coast -- like I never had a problem, no medications at all.
Quote: DRichI don't think that you have lived in Las Vegas. i rarely see tourists, I don't see homeless people regularly,
I can't imagine living in Vegas
if my goal was not to go to
the casinos everyday. It's
such a depressing ugly place
why would you live there on
purpose for any other reason.
Quote: rxwineOne thing I didn't foresee in moving to Vegas, is I developed the worst allergies of my life. Horrible in the summer even on multiple prescription medicines. I don't remember it starting right away, but it was bad for all the last years I was there.
Now back on the east coast -- like I never had a problem, no medications at all.
That is one of the main reasons I left. I had never had allergies in my life. Suddenly I couldn't breathe. Not realizing why, I opened all the windows thinking fresh air would help. I ended up in urgent care three times before the doctors figured it out and got me on the right medicine. A month is Bisbee and I was weaned off the medicine. Now that I'm aware of the problem, I think I can handle it.
Where do you live ?Quote: EvenBobI can't imagine living in Vegas
if my goal was not to go to
the casinos everyday. It's
such a depressing ugly place
why would you live there on
purpose for any other reason.
A 2 bedroom, 2 bath condo with a small attached garage and a small backyard for less than 200K near Palms. Good enough. So you can park your car and squeeze in some junk/hobby. Small backyard for BBQ and sun bathing? It is not great like Summerlin but safe and decent.Quote: AZDuffmanLowered the rent to $2100 a month?
I honestly do not get how people in these parts of the country survive.
But to the thread, the condo/house decision comes down to what you want. In a condo you give up a garage and doing any kind of hobby that is not sitting inside the house. For some people that does not matter, for others it does. OTOH a condo you leave and lock and no worries. This is nice if you plan to be gone for a few weeks at a time.
IMHO we have a housing crash coming the next year or two. Valuations are insane. A jumbo over $409,000 was very rare 10 years ago, now I see that kind of valuation many times a day. Are enough people making over $150000 to sop up this supply?
Quote: speedycrapA 2 bedroom, 2 bath condo with a small attached garage and a small backyard for less than 200K near Palms. Good enough. So you can park your car and squeeze in some junk/hobby. Small backyard for BBQ and sun bathing? It is not great like Summerlin but safe and decent.
what are the monthly carrying charges? I'm going to guess somewhere north of $500.
I think its 200-300/month. I have been monitoring Vegas condo prices for over 2 years. For the last 3-4 months, price is going up. But rent is coming down for at least a year.Quote: billryanwhat are the monthly carrying charges? I'm going to guess somewhere north of $500.
I think its 200-300/month. I have been monitoring Vegas condo prices for over 2 years. For the last 3-4 months, price is going up. But rent is coming down for at least a year.Quote: billryanwhat are the monthly carrying charges? I'm going to guess somewhere north of $500.
Quote: speedycrapI think its 200-300/month. I have been monitoring Vegas condo prices for over 2 years. For the last 3-4 months, price is going up. But rent is coming down for at least a year.
That's a borderline crappy neighborhood. I might rent there, but if buying there are many other places to choose from.
https://downtown.vegas/maps/
Quote: KeeneoneIt would take me at least 20 minutes of driving to find myself in a sketchy area I might be uncomfortable in. I tried to think of any "sketchy" area south of the 215 beltway (where I happen to spend most of my time) and wasn't able to come up with one.
https://downtown.vegas/maps/
I would think there are many of them south of the 215 in North Las Vegas. I can't think of any south of the 215 on the south loop.
I live at the 215 and Green Valley and nothing scary in this neighborhood.
Quote: DRichI would think there are many of them south of the 215 in North Las Vegas. I can't think of any south of the 215 on the south loop.
I live at the 215 and Green Valley and nothing scary in this neighborhood.
Good point, it does loop back around up north.
Quote: billryanThat is one of the main reasons I left. I had never had allergies in my life.
Had that in SoCal. Came from
the Midwest and never had
a problem. Sniffled and
snuffled the whole time I
lived in Santa Barbara.
Somebody mentioned property
crime in Vegas. It was that way
in SoCal. People wandering the
streets looking to steal from
cars and break into homes
to finance their drug habit.
This was 40 years ago, I can
only imagine what it's like now.
Quote: KeeneoneGood point; it does loop back around up north.
When I used to frequent the Emerald Island, I was surprised how sketchy the blocks around it were. Almost every night, I'd see cops having a pedestrian, or a guy on a bike, in handcuffs. Other than that, I can't think of anything south of Sunset and east of the strip that I wouldn't live in. I went to the Eagles Nest twice, and both times someone had their car broken into.
