House Prices of Las Vegas Homes?
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Hey guys. I was taking a look at websites where they sell houses in Las Vegas. I typed out Summerlin because i know that is a pretty good and safe area to live in Las Vegas from what i read. I"m from New york and most houses here are very expensive. If you buy a house in queens/brooklyn, it will cost at least $500,000 for a 1 family home that is in a nice area. I checked out some houses online in Summerlin, Las Vegas and i am shocked. A lot of the pictures of the homes look really nice and most of these homes cost like $200,000 only and they have like 3 bedrooms and 3 bathrooms. I know housing in NY is the most expensive but how come housing in las vegas is SO MUCH CHEAPER? I just couldn't believe my eyes how good these homes look from the picture and many of these homes are like 1/2 the cost of a home in NY and it wouldn't even look even close as good as the ones in las vegas. Can someone explain why this is so? I browsed and saw so many houses in Summerlin, Las Vegas and many of these homes cost between $150,000-$300,000 and they look so beautiful. I think if you want to buy a house like this in NY that look close to that would probably cost at least $700,000. And is it me or do the outside of the houses in Summerlin, Las Vegas really look nice? I see most of these real good looking houses has a nice garage and even the inside looks just so amazing.
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Answer:
Location
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Other answers
paul in SD had it partly right; environment; super cold seems more tolerable than super hot. NV has lots of land to build on and 1/4 of the barriers.........[no atty needed to close on a house] vegas is nice, in the nice areas, Summ is rather out there. go visit both cities on a NON casino visit. I live in PHX and houses can now be had for under 35k in some areas!!! 3 yrs ago, they were 125k
has your head been in the sand these last 4 + years? Vegas as well as many parts of the country has lost so much value do to foreclosures that it is not even funny. It is a buyers market in Vegas. Also many areas around this great land have homes that are even cheaper than those and just as nice, It is called the cost of living in every area of the country
There are lots of places you cam get a nice house for less than 200k but they are not bargains. The price of a house is the land plus construction cost, and in these places the land is worth almost nothing but if you are in commuting distance of NYC it is worth a lot. Read this about what has been happening to prices and then check out how much houses sell for in different metro areas using the link at the bottom of the second article before you do anything. http://designandgeography.com/.
Three reasons: Location, location, location. Vegas is a hell hole in summer, where you go from your air conditioned house in your air conditioned car, to your air conditioned job, back into your air conditioned house. And, it's dry, cold, and windy in winter. It's not near anything. Also, since it's so expansive out there, property is dirt cheap. Personally, I would never want to live there.
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