Las Vegas info for Jax
Posted by
ceregon
Jan 19 '10, 16:34
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Couple things to be aware of. Expect a lot of delays with your financing and paperwork. The banks and loan offices laid off a lot of people when financing crashed and the market is picking up there again, so they don't have enough people to manage the demand. Same goes for the county offices that have to record the deed.
Stay away from newer homes. When Las Vegas was growing at a slow rate and adding a couple thousand homes a year, they were built well and companies weren't cutting corners or using cheap labor. These are the places that are having a lot of problems now. Unless you like fixing stuff. A lot.
Check the foreclosure rates in the area. You don't want to live in a place with a lot of empty homes around. When I did my big analysis before I bought a place there it seemed like the newer homes were foreclosing at a much higher rate than older ones. Some neighborhoods don't have any and some have half the homes vacant.
Get your financing pre approved and put 20% down if possible. There were a lot of offers on the house I bought, but I got it because I was the only one to have 20% down even though others offered to pay more than me.
Let me know if you have any questions or need a realtor or financing recommendation.
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