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How far is Mesquite from Las Vegas?

JawJa
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How far is Mesquite from Las Vegas?

My Uncle, a mortgage broker for a reputable company in San Jose, CA, was telling my mother about this new condo development in Mesquite, NV that when completed, will be worth an estimated $800,000.

He went on to say that he only had to put down about 3% = $26,000.

I know this isn't right and my mother probably doesn't have all of the details correct, but she insists that he controls the property for only $26K and will stand to make a hefty profit when it is complete.

Are property values that outrageous in Nevada? Can anyone fill me in on the possible details that my mother missed?

Honolulu, Hawaii
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1. Re: How far is Mesquite from Las Vegas?

Mesquite is 77 miles northeasterly of Las Vegas along the Arizona border. It is turning into quite an alternative destination, with half a dozen good to great golf courses and a major resort/casino development on the Paiute reservation.

Now, if the purchase was a "pre-sale reservation" for a single $800,000 condominium unit (which does seem awful high for that area), a $26,000 deposit is reasonable to hold the unit pending the finalization of the purchase & sale contract as the project nears completion.

If he is purchasing an interest in an entire under-construction multi-unit complex, $800,000 is not a lot of money; and then who knows what the terms or motivations may be....maybe the developer is going under and needs cash, or investors to sign for loans, or a partner to make payments. Maybe the $800,000 total selling price is really high and the seller is willing to take a smaller downpayment.

2. Re: How far is Mesquite from Las Vegas?

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Removed on: 19 December 2005, 03:06
Honolulu, Hawaii
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3. Re: How far is Mesquite from Las Vegas?

VE..

Even in at the edge of the world in Mesquite, its probably difficult to buy/finance the land, design improvements, get approvals, prepare the site, extend infrastructure to, and lay foundations for less than $20,000 a unit.

And that's before vertical construction, finish and appliances...

C'mon, they probably aren't just huts.

4. Re: How far is Mesquite from Las Vegas?

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Removed on: 21 December 2005, 06:00
leon valley, tx
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5. Re: How far is Mesquite from Las Vegas?

Mesquite is also becoming a Alternate Lifestyle Location.

JawJa
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6. Re: How far is Mesquite from Las Vegas?

Cool ! I like to listen to Depeche Mode too !

JawJa
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7. Re: How far is Mesquite from Las Vegas?

This was originally posted on December 7th?? I think I have a stalker? Can someone allude to what was said that got the post deleted?

Los Angeles...
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8. Re: How far is Mesquite from Las Vegas?

Another "Vegas Expert"?

Don't we have enough of those already?

9. Re: How far is Mesquite from Las Vegas?

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Removed on: 19 December 2005, 19:02
Seattle
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10. Re: How far is Mesquite from Las Vegas?

VHB: Have you considered that vegasexpert was actually VegasMan, whom many have reported that he was banned, and that is why all his posts were again removed? Just a thought.