How is the housing market in Mesquite, NV?

[KC Dash]

Might be moving to the area. What is the market like here? Is housing staying strong? Also, how is the rental market? Can you cash flow properties?

Any info on the Mesquite market would be greatly appreciated.

 

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[hakrjak]

*BUMP*

I absolutely LOVE Mesquite, NV -- and would love to retire there one day. 90% of the community there are retired folks, as there are no jobs or major businesses in the area besides the 5 small casinos, liquor stores, etc... So I'd imagine that things are pretty stable -- but I haven't done research there in years.

Last time I did research was about 3 yrs ago, and houses were way overpriced in my opinion, which is what kept me from buying there. I figured I would pick up a retirement home for myself and rent it out until I'm old as soon as we get a serious decline in the market there!

Please keep us updated on your research and anything you find out about their market out there.

Cheers,

- Hakrjak

 

[hakrjak]

p.s. -- If Mesquite is still too expensive -- look into Pahrump, NV. It's smaller, about 30,000 people -- mostly retired as well, and my folks are actually retired there and loving it. Cheaper too I think and about an hour from Vegas, 10 miles from the California border.

Cheers,

- Hakrjak

 

[hakrjak]

I did some searches after my post yesterday and found that the market has come down significantly there since I last researched a few years ago. You can now buy a nice 3 bedroom home for about $180k, which was about $350k last time I checked. Looks like a good entry point to me

- Hakrjak

 

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[KC Dash]

Very nice hakrjak. I have been doing some research and have found that there has been a significant drop in median home pricing there. I would say half of what Vegas has experienced from what I have found at least. It might be a good time to enter there.

 

[hakrjak]

Call some property management companies and see how warm the rental market is there. With no jobs / major commerce, I'm kinda concerned that 85%+ of the population are going to be owners (Retired) and the remaining 15% are casino workers, who are paid pretty low wages since the casinos there are very Mom & Pop (Tiny), and probably are living in single wides, etc

Cheers,

- Hakrjak