vpFREE2 Forums

LVRJ - Struggling Reno casino delivers clowning blow

#1

In a message dated 4/17/2004 1:51:09 PM Pacific Standard Time,
krallison416@aol.com writes:
too.<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<
I was just in Reno. One dealer told me he'd had to sell his house (divorce
settlement) and was moving to Las Vegas because he can't afford Reno any
more.
I hear that Californians are arriving by truckloads, having sold their homes
and paying whatever it takes to buy a house in Reno
The housing market in NV is reflecting what has become the outrageous,
totally unaffordable CA real estate , both residential and commercial, market. Lots
of homeowners are "cashing out" and buying in Vegas and or anywhere in NV, AZ
and OR. My 1400 square foot home in the Southwestern San Fernando Valley
section of Los Angeles, in a working middle class neighborhood, could easily sell
for $420,000 oh and it is 45 years old. Everyone who has sold recently has done
so and said oh we are moving to Vegas, Portland etc....Houses rent for
2,000+/month. My mom paid off her house, she needs a tax break badly, so she is now
looking for condos in Vegas. I feel sorry for people who want to buy a home in
CA, too expensive.

Liz

[Non-text portions of this message have been removed]

#2

In the Dallas Fort Worth area, one can still find new, well constructed
homes at reasonable prices. It is not difficult to find a 3.000 sq. foot
custom home with a pool, in a golf course community for less than $350,000.
I continue to be amazed at the California real estate prices. As much as
prices have increased in Las Vegas, they still remain a bargain compared to
those in the Terminator State.

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I hear that Californians are arriving by truckloads, having sold their
homes and paying whatever it takes to buy a house in Reno

#3

I feel sorry for people who want to buy a home in

CA, too expensive.

Liz

We're getting way off the VP subject here, but I agree. Housing in
CA is crazed. It's the same here in the Bay Area as down in SoCal.
But what's perhaps more interesting is that it's happening in Las
Vegas as well.

A couple of years ago we purchased a lot in Pahrump, 45 miles NW of
Vegas. We'll build a house and retire there in about 4 years, (pray
the housing market doesn't bust before then). 2 years ago we bought
in phase I. They'd been selling for more than a year and had sold
only ~30% of the lots. One year ago they were selling in phase II
and were about half done. By the end of last year phase II had sold
out and the demand was so great they rushed phase III to completion
and had a lottery for the lots. And today we're getting emails and
letters from agents in the Pahrump valley wanting to know if we'll
sell our lot for twice what we paid for it 2 years ago.

They tell us that housing has become so expensive in Vegas that folks
are moving to Pahrump & Mesquite to get more affordable housing.

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--- In vpFREE@yahoogroups.com, lizntony69@a... wrote: