Ask Access Vegas

I know you have talked about condos for sale before. Are there any real estate agents you can recommend and that you trust? Also, some good areas to purchase a condo.

Thanks,

Steve Gleason

Ted Responds:

Generally, Las Vegas Realtors won’t work with you unless you’ve pre-qualified for financing or show the cash availability to buy (which you’d need to show to make an offer). My understanding is that banks won’t finance Las Vegas condos right now. If they have to foreclose, they can’t get rid of the property in the current market. However, s a private owner, you can usually rent out a condo to cover your mortgage if you get stuck.

One of the most knowledgeable Realtors in town is Bridget Magnus. I’d watch some of her videos and read her blog at BridgetMagnus.com

Per some good areas: Condos are available all over town. $55k will get you a condo across the street from The Rio http://www.realtor.com/realestateandhomes-detail/… or get you something in the suburbs like Green Valley http://www.realtor.com/realestateandhomes-detail/…

Everybody living here will tell you that their part of town is the best. They have to justify why they chose it!

Quick access to The Strip  and downtown (Fremont Street, Arts District, Pawn Stars shop [just kidding on that last one]) is important to me. I don’t want to drive 15-20 minutes (more with traffic) every time I want/need to hit the tourist areas vital to my job. The time adds up. I’m just south of downtown literally about 7 minutes from Fremont Street and the same from Wynn/Encore and it works for me. But… I don’t mind living in a mid-century home in an older neighborhood.

On the flip side, if you plan to live a suburban lifestyle and don’t plan to visit The Strip or Downtown often, neighborhood area amenities will be important. Close to shopping, restaurants, and some nice local watering holes that appeal to you.

Keep in mind that the Las Vegas Valley is upwards of 20 miles wide (east/west) and 25 miles deep (north/south). If you buy a home in Centennial Hills (far Northwest) and then end up with a job in Green Valley (far Southwest and an area where many corporations are headquartered), you are in for a 30+ mile commute. Each way. Those from Los Angeles may think nothing of that. Others will find it a grind.

I’d rent a car and explore town for 3-4 days on your own (sans Realtor) to get a feel where you might want to live. The agent will be happy you’ve narrowed it down and you’ll be comfortably happy with the locations you choose. Which will then allow you to go online and  view what is available in the specific area you end up liking before getting serious with a Realtor. Condos are available in just about every area of town, so finding one in your chosen area won’t be a problem.

Hope this helps!

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