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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: orkrious who wrote (228890)	3/18/2003 11:20:33 AM
From: patron_anejo_por_favor	Read Replies (1) \| Respond to of 436258

I was surprised you bought a second house. you don't think you'll get a better deal in the future? Maybe, but it's a special situation. There's a major bubble in condo associations suing builders now in Vegas, so very little new supply is coming on the market. It's one of the markets where buildable land IS constrained (the Feds own almost all of the RE immediately surrounding the town). We researched the market for months. The place we bought is one of the only developments where no suits have been filed or are contemplated. We put in a low-ball bid, and the seller accepted. I guess he was more motivated than I thought he'd be...<G> Then there's the issue of record low rates...it DOES have an impact (we locked in a 30 year fixed at 5.75, which isn't bad for a 2nd home). It isn't a huge place, the payments overall including association fees will be around a thou a month. Besides, I spend so much time there that it makes sense to get a place. Hotels are nice (in LV, VERY nice, especially when comped), but it's still a grind to pack and unpack, and check in and check out every friggin' trip. Besides, cash flow from poker will pay for it.<G>