House Shopping In Las Vegas
written by John Chow
We had some time to kill before hopping on our flight back to Vancouver so we decided to do a little house shopping. It’s always interesting and fun to see what is available in other markets and compare it to the home market.
The development we saw was call Finisterre, an exclusive private, gated, infill community featuring 95 large lots ranging in size from 7,000 square feet to over 1/4 acre. Located between Warm Springs and Windmill on Bermuda, Finisterre is just minutes from the Las Vegas strip.
The community features one and two story homes ranging from 3003 square feet to 4086 square feet. The four floor plans have up to five bedrooms and three and a half bathrooms and offer a wide array of standard features, including raised panel maple cabinetry, maple hand rails, four-bay garages, covered patios and walk-decks, granite countertops, and upgraded flooring. This video features a 4 bedroom, 3,500 square foot home.
Buying a home in Vegas really isn’t a bad idea. Many of the major conventions that I attend are held there. Sarah said it would make a good winter home. One thing for sure, I wouldn’t want to spend summer in Vegas. There is hot and then there is Damn Hot!
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(9 votes, average: 3 out of 5)
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So, did you actually buy it? :p
He might be just thinking.
But after all, whats wrong on hot and damn hot John? I mean, there is HOT even if you walk through the streets and becomes damn hot from the hotties walking the streets?
No I didn’t buy it. We had to catch our flight. I’ll look at them again when I’m down there in Jan.
Would be a good idea anyway, especially if you changed some savings to canadian dollars… the US dollar seems to be on a slippery slope, maybe your money will be worth even more in January.
Very sound advise. The Canadian dollar will buy many more US ones than now and to that extent, for Johh it will be cheaper!
What does a 3,500 sq. ft. house go for in Las Vegas, anyway? I live about 20 miles north of the city in Atlanta and I’ll bet it would be half price.
Price?
Nevermind. I just watched the vid.
I don’t think so he’s not that rich remember you can’t depend to mush on online money “it comes and then it goes” as they say
Geez my family house in Croatia costs that much and it is no where at par to that…
Croatia is beautiful, is the house near the coast? You are right tho, even tho Croatia is walking toward EU and has beautiful touristic places it is really damn expensive.
It’s in wide-area commercial place, the house is near the one of the main streets in the city so the land is pretty expensive. If it was near the sea it would be worth several millions of dollars.. Even now the house is reaching cca. 600-700k$US and it’s not it’s best condition, with the popper future investment and refurbishing it will probably reach over one maybe even two million dollars (the house has the similar 3500 sq ft + 14000-18000 sq ft of surrounding lot). The properties here are pretty darn expensive and they will surely not go down in the near future esp. when Croatia enters EU.
Whoa! Didn’t have any idea on that part
ill check out croatia when I’m going to take a trip to europe.
You sure do! The coastal area is beautiful, esp. the islands although the continental area isn’t that bad either but i like more the coast(everybody loves the coast
).
Yes, all my friends that have been to Croatia have loved it. I live in the Uk so it is not that difficult to get there at all!
So where you have this house?
The prices of the parcels of land in Zadar (coast) increased more than 400% since 1995.
Best regards
Rijeka. The prices are going through the roof… But this is the global phenomenon, there are few countries in the world now where you can get cheap housing now.
No, actually, with the US subprime problem cropping up the market for real estate, almost everywhere have become static or even declined. The drop in dollar value has contributed to this also. Your place must be an exception due to some other factors.
Nope, everywhere else but US and old EU member states (depends) the prices are going up. The “transition” countries are going into boom time, it will surely go into saturation some time soon but it will be delayed by few years. Here in Europe we do not have cheapy-cheap loans for housing (but it is going to trend), we have lots of savings here, although the avg. monthly paycheck here is cca. 600-700$US we have in bank savings cca. 15-20 billion dollars on total of 4,5 million citizens of that are under 700 k active workers, but we have external debt of almost 40 billion dollars of foreign debt so this could crash the economy here but i doubt it would happen some time soon. The fact is just that in most of Europe you got to vouch it with quality paycheck or/and good savings account.
All this sh#t in US would not happen if there were the proper measures for getting loans. Wikipedia: “Subprime lending, also called B-paper, near-prime, or second chance lending, is the practice of making loans to borrowers who do not qualify for the best market interest rates because of their deficient credit history. “
Umm i must mention that here is speculative market but the prices wont drop that sharply after the bubble will burst. Good development property land in quality area will not drop here in Croatia under 200-500$ per 10 sq ft in coastal area or in bigger cities, of course you will still find cheap devel. land outside of centers of cities but here we like to have all necessities 10 mins. from our home and for that you have to pay premium, the show house that John visited is pretty close to the center taking the price so it’s a good buyers market there.
You could always buy it and have a management company keep it rented out for the months/weeks you don’t spend there.
Vegas is great. If you move to the area be sure to check out communities just North of Los Angeles too. Being near L.A. and a couple of hours drive from Vegas, SanDiego, San Fran, Anaheim etc has its definite advantages. Prices are coming back down to earth a little around here now too.
btw - I added a house valuation widget to a local city site I recently launched, it shows a ton of detail for whatever address you enter. Take a look at the houses just 10 minutes from where you were John. House Prices Calculator
(p.s. - the data shows that houses you looked at dropped by $27,000 in the past 30 days, time to buy!)
I have had family in Las Vegas since 1979 and they can’t wait to get out. It is growing out of control, and definitely isn’t what it used to be.
It’s true - The Vegas Housing market has been cool for months. Definitely becoming a buyer’s market. As construction slows and Nevada starts to recover from the sub-prime & interest only fall out, it will be even more appealing to potential buyers.
My advice- Wait a few months.
wow! a really nice house! I like big houses with many rooms. But the furniture I would change….
Nice house. I like the rounded doorways.
Southern California is the place to be. Vegas is only a 45 minute flight away! But if you do buy the house, I know Danielle and I can just go over and take care of it for you during the summer
Three words: No Income Tax
How dare you to make fun of US dollar!
Speaking of winter homes… I’d actually move to Vancouver for my winter. Winnipeg winters are brutal compared to you guys on west. There were a few days when it got to -52°C last year.
Which house felt best, this, or the one you mentioned couple of weeks back, in West Vancouver?
The ones in West Van are built to a higher quality level, but man, you pay for it! I do prefer the West Van ones.
At least is dry heat in the summer. BTW John, what is up with the tiny smiley face at bottom - center of your site.
That’s a Wordpress stat counter.
And how much is a place like that in Vegas?
Sweet house man. Huge house.. cheap price, especially compared to NJ rates!
If you are looking to adopt a 46 year old, out of shape and overweight son, I am available. In fact, I would be glad to live in the house and keep it lived in on a year ’round basis for you.
thirstan
feeling helpful today…
Sub-prime problems won’t go away for a year or so.
OTOH, for Cdn buyers, snowbirds are starting to buy Florida.
As the Cdn dollar trends higher and US housing prices falls further, I think it’s better to wait. If not Vegas, then how about Hawaii?
Jan in Vegas - CES?
Jan in Vegas - AEE!
LOL
Yep - CES.
You think Vegas is hot?
Come down to Arizona.
I live in Las Vegas, and yes the summer is extremely hot. The houses are going down a lot so it might be a good idea to buy one (unless they continue to go down). We’ve lost several thousand dollars because of this.
Yes, if you are free of debt you are alright for some time. The market will pick up. Las Vegas will never see recession as it is understood elsewhere. It will always attract floating population that will keep its economy up!
That would be a pretty cool place to live. Maybe one day, if I become a dot com mogul!
Keep on dreamin’ the good dream!
All the dot com moguls all had to start somewhere as well… and they got there cause they kept on truckin’. Best of luck.
Nice, that’s like a John Chow version of MTV cribs.
Awesome place, but a lot of houses are priced on location - which is why I’m guessing it sells for so cheap. But you’re right, it would make a fantastic vacation home if you had the money and loved the sin city.
You never know… maybe John Chow will have his own MTV show eventually haha. That would be the cherry on the cake.
John,
I love your last sentence. It’s just like saying there’s stupid and very stupid. Summers in Vegas is just horrible…it feels like you’re shoes are going to melt any minute!
-Mike
I would have thought that the houses out there were higher then normal. Maybe its the public water problems they are having out there that lower the values of the homes? Especially with it being close to the strip…I love it out there though.
How much $ are we talking?
600k, less than a million
Vegas is a really nice, clean place to live. Extremely overpriced however. One of the biggest hit areas of the housing bubble.
But also extremely fun. What can I say… we all pay the price for fun sooner or later… in the most weird an wonderful ways. Looks like something that might be a plausible idea anyway given how much John says he travels back and forth… unless he can get a hotel to sponsor him.