Hill Gate
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Should I sell or wait on my home in Las Vegas?
I own my home outright but I am concerned with the values of homes not going up in the Las Vegas Valley. I live in 7 Hills, gated community, the house faces the strip with a park for a backyard, and a short walk to schools. Should I take the money what ever I can get for it and run, or wait it out by renting it out since rentals are kind of high in demand for this area?
Tough call, renting out property always leaves you open to having to be a landlord(Not an easy position) and the possibilities of the problems landlords have ie; not getting rent, damaged property, having to chase the rent, having to chase the tenant, having to repair damages, having to be on call 24/7. If you can wait it out or stand being a landlord by all means wait. The recovery is coming I am in a less desirable area of the country housing wise and have been trying to sell a house for the last 3 years and have finally received a reasonable offer that I have accepted because a house needs to be lived in and it has been 4 years since anyone lived in it because I couldn't do the landlord thing. Las Vegas has a housing shortage right? So don't you agree that those renters want to be owners, I see from your description that your house is in a desirable area wait and see I think if you can.
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