NorthSideSox72 Posted June 23, 2011 Share Posted June 23, 2011 QUOTE (iamshack @ Jun 23, 2011 -> 10:12 AM) Well there are subdivided plots and then there is acreage for sale. The subdivided plots are generally between a half-acre and three-quarter acres. Them the larger parcels, which are outside the subdivision, are more like 2 acre parcels. The reason for the smaller parcels is because this is all located right up next to the Toiyabe National Forest lands, which is some 6.3 million acres. The one property I looked at actually backs up right into the National Forest land. For me, I don't really care about the acreage much since I can just access the National Forest lands if I want to hike or camp or whatever. It's about 25 miles northwest of the edge of northwest Vegas, about 45 miles from central Las Vegas. OK. Backing on USFS land is really, really nice. Our property is about half a mile from a wilderness area with some trails. Having the larger acreage is all a matter of taste of course, half an acre is still plenty of room for a nice home and not being on top of your neighbors. So... is there actually a cold creek in cold creek? Quote Link to comment Share on other sites More sharing options...
bigruss Posted June 23, 2011 Share Posted June 23, 2011 QUOTE (NorthSideSox72 @ Jun 23, 2011 -> 10:16 AM) So... is there actually a cold creek in cold creek? It's Nevada, the only thing cold there are gambling streaks. Quote Link to comment Share on other sites More sharing options...
iamshack Posted June 23, 2011 Author Share Posted June 23, 2011 QUOTE (NorthSideSox72 @ Jun 23, 2011 -> 09:16 AM) OK. Backing on USFS land is really, really nice. Our property is about half a mile from a wilderness area with some trails. Having the larger acreage is all a matter of taste of course, half an acre is still plenty of room for a nice home and not being on top of your neighbors. So... is there actually a cold creek in cold creek? Yes, there are several year-round creeks and ponds in the area. There is one 2 acre parcel that actually has one running through it. $100k right now. As for the lot sizes, it's really interesting, because the subdivision is all in raw desert landscaping, so it is difficult to see where one person's land ends and another's begins. There are very few fenced properties. I asked if I were to allow my dog off leash if someone would take offense to him if he were to wander in to someone else's yard, and the realtor laughed at me. Said dogs are not an issue, that the wild horses come down into peoples' yards and no one even blinks an eye, so certainly no one cares about your dog (as long as he isn't aggressive or anything). The place honestly sounds like it's right out of Budweiser commercial in the winter. Quote Link to comment Share on other sites More sharing options...
NorthSideSox72 Posted June 23, 2011 Share Posted June 23, 2011 QUOTE (iamshack @ Jun 23, 2011 -> 11:29 AM) Yes, there are several year-round creeks and ponds in the area. There is one 2 acre parcel that actually has one running through it. $100k right now. As for the lot sizes, it's really interesting, because the subdivision is all in raw desert landscaping, so it is difficult to see where one person's land ends and another's begins. There are very few fenced properties. I asked if I were to allow my dog off leash if someone would take offense to him if he were to wander in to someone else's yard, and the realtor laughed at me. Said dogs are not an issue, that the wild horses come down into peoples' yards and no one even blinks an eye, so certainly no one cares about your dog (as long as he isn't aggressive or anything). The place honestly sounds like it's right out of Budweiser commercial in the winter. You probably already know this, especially if you spend time in the backcountry with your dog... but if you live in a place where wild animals frequently visit, and you don't have fences, you need to keep careful track of your dog. Especially at night. Getting into a tangle with a coyote, or mountain lion, or even a horse, could end badly for the dog. Quote Link to comment Share on other sites More sharing options...
iamshack Posted June 27, 2011 Author Share Posted June 27, 2011 Well, I decided against the whole "live in bfe" thing for the time being. The two homes for sale in my price range just need too much work done to them for it to make financial sense. Would be better off saving for a piece of land up there down the road and putting something on it that I actually would like. There was a home in town that I really came to love, nice older home (for Vegas), built in 1965 but updated nicely and with all the selling points I wanted: big lot (again, for Vegas), large inground pool, close to work and close to the Strip. It's a short sale, but what isn't a short sale around here. Put an offer in Friday evening and had the seller/homeowner accept last evening. So now I wait on the bank/lien holder. Pretty stoked though... Quote Link to comment Share on other sites More sharing options...
BigSqwert Posted June 27, 2011 Share Posted June 27, 2011 (edited) Awesome Mark. Good luck! EDIT: And now I definitely have a place to crash in Vegas. Edited June 27, 2011 by BigSqwert Quote Link to comment Share on other sites More sharing options...
iamshack Posted June 27, 2011 Author Share Posted June 27, 2011 QUOTE (BigSqwert @ Jun 27, 2011 -> 12:05 PM) Awesome Mark. Good luck! EDIT: And now I definitely have a place to crash in Vegas. Thanks Marko, and yes you do... And of course the guy from LA just came calling after being conspicuously absent at the end of last week... Quote Link to comment Share on other sites More sharing options...
Chisoxfn Posted June 27, 2011 Share Posted June 27, 2011 Awesome Mark. Good luck. I assume you aren't looking into the Edison gig anymore? Quote Link to comment Share on other sites More sharing options...
southsider2k5 Posted June 27, 2011 Share Posted June 27, 2011 Good for you Shack! Quote Link to comment Share on other sites More sharing options...
LittleHurt05 Posted June 27, 2011 Share Posted June 27, 2011 QUOTE (iamshack @ Jun 27, 2011 -> 12:00 PM) It's a short sale, but what isn't a short sale around here. Put an offer in Friday evening and had the seller/homeowner accept last evening. So now I wait on the bank/lien holder. Pretty stoked though... Congrats. The house I bought was a short sale as well. Every situation is different, but with me it took the bank two months to counter my original offer, then another month to accept my counter offer. But then they mandated closing in less than 30 days, so at least that gone done quickly. Quote Link to comment Share on other sites More sharing options...
iamshack Posted June 27, 2011 Author Share Posted June 27, 2011 QUOTE (Chisoxfn @ Jun 27, 2011 -> 11:14 AM) Awesome Mark. Good luck. I assume you aren't looking into the Edison gig anymore? Jas, I thought about it and researched the cost of living, the area their office is located in, the surrounding communities, etc., and the cost of living is so great in and around LA that I would have to get a tremendous raise in order to actually increase my disposable income by taking the position and moving there. Housing costs are more than double, probably closer to 2.5 times generally what they are in Vegas. The home I just offered on, if the bank accepts my offer, I will pay about $83.5/sq ft. Prices around LA for similar homes are probably actually in the $500k range, so you're talking something like $270/sq ft. I tried to find areas far enough outside the area where homes were cheaper, but the problem you encounter then is traffic. You start looking at 3 hour round trip commutes at that point, and that just destroys the entire point for me. I am all about maintaining/increasing my quality of life, regardless of whether my salary is 5 figures or 6, and so I figure if I can get in on a home at this price in our market here in LV, it's worth it, regardless of the gaudy salary figures a California utility is willing to pay me. Quote Link to comment Share on other sites More sharing options...
BigSqwert Posted June 27, 2011 Share Posted June 27, 2011 QUOTE (iamshack @ Jun 27, 2011 -> 12:27 PM) Jas, I thought about it and researched the cost of living, the area their office is located in, the surrounding communities, etc., and the cost of living is so great in and around LA that I would have to get a tremendous raise in order to actually increase my disposable income by taking the position and moving there. Housing costs are more than double, probably closer to 2.5 times generally what they are in Vegas. The home I just offered on, if the bank accepts my offer, I will pay about $83.5/sq ft. Prices around LA for similar homes are probably actually in the $500k range, so you're talking something like $270/sq ft. I tried to find areas far enough outside the area where homes were cheaper, but the problem you encounter then is traffic. You start looking at 3 hour round trip commutes at that point, and that just destroys the entire point for me. I am all about maintaining/increasing my quality of life, regardless of whether my salary is 5 figures or 6, and so I figure if I can get in on a home at this price in our market here in LV, it's worth it, regardless of the gaudy salary figures a California utility is willing to pay me. We think alike. Quote Link to comment Share on other sites More sharing options...
mr_genius Posted June 28, 2011 Share Posted June 28, 2011 QUOTE (Steve9347 @ Jun 21, 2011 -> 03:56 PM) I bought a home in 2007. ouch Quote Link to comment Share on other sites More sharing options...
iamshack Posted July 19, 2011 Author Share Posted July 19, 2011 So while I am waiting on the short sale I have a contingent offer on, I have continued looking at properties at the advice of my realtor. I have been stalking an older neighborhood which was home to many of the old school Vegas celebrities in past. The neighborhood is populated with many mid-century modern homes that were designed by the architecture firm of Palmer and Krisel, who were noted for their work in Palm Springs, CA, hotbed of mid-century modern architecture. Anyways, not many of the homes have been preserved well and many have been downright ruined by boring, contemporary remodels. I found one home, however, that is located on the Las Vegas National GC (the centerpiece for this master-planned community when it was first designed). It is truly a money pit. Would be a momentous project. However, it is in the exact location I desire, has golf course frontage, and a pool (although it needs a complete restoration). The inside of the home is somewhat bizarre, with bathrooms built into the design of many of the bedrooms. The master bedroom actually has a shower right inside it. Someone began the renovation and then ran out of patience and abandoned the project, which an investor then bought. It has quite a bit of history to it, being the former home of Sonny Liston and Debbie Reynolds. And also an orthopedic surgeon by the name if Ivan Mindlin, who was part of "The Computer Group," the first collection of bettors to use a computer to predict the outcomes of football and basketball games. Mindlin made millions in the early eighties before being arrested by the FBI for gambling and racketeering charges over interstate lines. The investor that owns it now is holding firm on his price, which is more than I would like to pay considering it is a colossal project in it's present form, but I can't get it off my mind. I am incredibly intrigued by vintage Vegas history, and this home and neighborhood offer both in large doses. Decisions, decisions, decisions... Quote Link to comment Share on other sites More sharing options...
southsider2k5 Posted July 19, 2011 Share Posted July 19, 2011 If it is a once in a life time shot, and you have the money to see it through, take a shot. Quote Link to comment Share on other sites More sharing options...
BigSqwert Posted July 19, 2011 Share Posted July 19, 2011 QUOTE (iamshack @ Jul 19, 2011 -> 01:35 PM) So while I am waiting on the short sale I have a contingent offer on, I have continued looking at properties at the advice of my realtor. I have been stalking an older neighborhood which was home to many of the old school Vegas celebrities in past. The neighborhood is populated with many mid-century modern homes that were designed by the architecture firm of Palmer and Krisel, who were noted for their work in Palm Springs, CA, hotbed of mid-century modern architecture. Anyways, not many of the homes have been preserved well and many have been downright ruined by boring, contemporary remodels. I found one home, however, that is located on the Las Vegas National GC (the centerpiece for this master-planned community when it was first designed). It is truly a money pit. Would be a momentous project. However, it is in the exact location I desire, has golf course frontage, and a pool (although it needs a complete restoration). The inside of the home is somewhat bizarre, with bathrooms built into the design of many of the bedrooms. The master bedroom actually has a shower right inside it. Someone began the renovation and then ran out of patience and abandoned the project, which an investor then bought. It has quite a bit of history to it, being the former home of Sonny Liston and Debbie Reynolds. And also an orthopedic surgeon by the name if Ivan Mindlin, who was part of "The Computer Group," the first collection of bettors to use a computer to predict the outcomes of football and basketball games. Mindlin made millions in the early eighties before being arrested by the FBI for gambling and racketeering charges over interstate lines. The investor that owns it now is holding firm on his price, which is more than I would like to pay considering it is a colossal project in it's present form, but I can't get it off my mind. I am incredibly intrigued by vintage Vegas history, and this home and neighborhood offer both in large doses. Decisions, decisions, decisions... Damn. Sounds like an intriguing project to take on. If it were to somehow work out, you'd have some awesome stories to tell at your dinner parties. Please keep us posted. Quote Link to comment Share on other sites More sharing options...
bigruss Posted July 19, 2011 Share Posted July 19, 2011 Sounds like a fun but almost overwhelming choice. I would bring in a contractor if possible to see if you can get an estimate in how much it would take to fix the place up, then find a price your comfortable paying and go from there. I would set a limit and stick to it, otherwise you could get in some financial trouble. Quote Link to comment Share on other sites More sharing options...
iamshack Posted July 19, 2011 Author Share Posted July 19, 2011 QUOTE (bigruss22 @ Jul 19, 2011 -> 01:44 PM) Sounds like a fun but almost overwhelming choice. I would bring in a contractor if possible to see if you can get an estimate in how much it would take to fix the place up, then find a price your comfortable paying and go from there. I would set a limit and stick to it, otherwise you could get in some financial trouble. They had an FHA inspector go through it and say it needs $50k worth of work. A house flipper went through it and estimated $125k for a full restoration. I don't doubt either number. If I was to get it at just under the list price, which is probably what it will take, I can stomach putting about $75k into it within the next 6 months. Further work would require me to put in $10-15k annually. To reach the point at which the flipper is estimating, it would probably take 3-4 years for me to reach, in my estimation, which is ok by me. I am very particular, and so I realize I am going to be dumping money into any home I buy for a few years. This isn't going to be a "starter home," as the market in Vegas will likely be depressed for years to come and seeing any kind of profit in the immediate future is probably unrealistic. So it's going to be my home for many years, barring some job offer or other event which is enticing enough for me to move. The risk is that the value of homes in the neighborhood continues to drop to the point where I become vastly underwater due to the cost of renovations/remodeling. However, at this price, and with the money I am looking to put into the home, I think it will increase it's value to something similar to what I will have into it. There are several amazing homes on the same block, and very close by are the previous homes of Johnny Carson/Joe Louis, Frank "Lefty" Rosenthal, and several other celebrities from the past. The home has golf course frontage on the course that partially hosted Tiger Woods' first PGA victory. It was the home course of the Rat Pack back in the day, where they used to gamble and hang out afterwards in the clubhouse. Just some really cool history, and I would think even in Las Vegas, there will always be people who choose to honor those memories. Quote Link to comment Share on other sites More sharing options...
iamshack Posted July 23, 2011 Author Share Posted July 23, 2011 Well, put in the highest bid I felt comfortable with, and it went down to the wire, but lost out on the Sonny Liston money pit to a cash buyer. Hopefully the buyer puts the money into the home to restore it (and restore it somewhat originally). Back to the drawing board...grr Quote Link to comment Share on other sites More sharing options...
BigSqwert Posted July 23, 2011 Share Posted July 23, 2011 Damn. Sorry Mark. Quote Link to comment Share on other sites More sharing options...
iamshack Posted July 23, 2011 Author Share Posted July 23, 2011 QUOTE (BigSqwert @ Jul 23, 2011 -> 07:18 AM) Damn. Sorry Mark. No worries...was kind of nervous about getting it...kinda disappointed about not getting it...it would have been a massive project...might have just narrowly avoided a big mistake. I'll end up with something good, I know that much. Quote Link to comment Share on other sites More sharing options...
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