More Great Summerlin Homes News!!

Boulder Ridge Plan 2 Kitchen

Boulder Ridge Plan 2 Kitchen

I was recently asked by Christopher Homes to participate their new education seminar, the Realtor Ambassador program.  I was blown away by these homes and the floor plans, upgrades and the area! First, Boulder Ridge is located in The Ridges in Summerlin , which in my opinion, is the finest place to live in the entire Valley.  These beautiful homes range from 4400sf to 5900sf and start in the upper $1 millions.   The standard upgrades and finishes available here are much more elaborate than I have seen even in most custom homes!  Features like pivot front doors, kitchens with two of everything, slick wall texture, unique door hardware, stone flooring and counters and exotic hardwood cabinetry (like zebra-wood and gum wood)!  All this and home-sites of 1/3acre to 1/2acre at prices that in many cases is lower than building it yourself!  In addition to these incredible homes, Christopher is offering  jumbo financing at 6% with only 25% down.  For those of us who don’t want to sell our homes at the current prices, Christopher has a solution:  sign a contract to purchase a B. R. home but only buy the home-site at that time and then they give you 24 months to sell your home all the

Boulder Ridge Plan One Living Room

Boulder Ridge Plan One Living Room

while your new home is under construction.  So this gives you time to sell your home in a more favorable market and lock in today’s prices on the home of your dreams at Boulder Ridge!   They also offer a sale/leaseback for investors looking for locked in cash flow.  The plan one home is available with out artwork but fully furnished with a lease payment of $19,630/month (8%)  for a guaranteed year!  An investment that yields an 8% return!  Please contact me for more information about these tremendous homes and these incentives!  And remember to contact your Ambassador to schedule a tour of Boulder Ridge!

Ladera Canyon

Ladera Canyon

Ladera Ridge at Ladera Canyon my Richmond American Homes is closing out their community located in The Mesas.  The floorplans are unique for Richmond in Las Vegas and they offer some great spaces!   I got a call from a sales person and they told me that the homes they have left in the Mesa can be purchased with free upgrades!!  So think of this buying a home with the natural stone floors and upgraded finishes for no additional cost!  This is a tremendous opportunity in the Mesas and I love these homes! 
If you are interested in touring Boulder Ridge and seeing these fabulous homes or Richmond American’s models in the Mesa please contact me on my mobile and we will set up an appt!  Please leave me a comment and make sure to visit http://vegasdreamsellers.com!  

Next post: The return of Mira Villa!

America’s Biggest Open House This Weekend In Summerlin of course!

America's Biggest Open House

America's Biggest Open House

Well its back America’s Biggest Open House this weekend in Summerlin!  This is a great event for those who are not as familar with Summerlin as those of us who live here because all of the model homes in all of the communities are open for viewing.  This is a great opportunity to view all of the new construction homes modeled by the builders and have a chance to win prizes while doing it!  If you visit all of the models you get a chance to win a $500 American Express gift card to any General Growth Mall Property and smaller prizes like a $200 gift card for a nights stay for two at the Red Rock Resort, $150 for the fabulous Vinter Grill Restaurant and memberships for the Friends of Red Rock Canyon and a guided hike in the canyon.  
In addition the various builders will have Open House specials and incentives good for only this weekend so if you are thinking about buying a new home this is the weekend to shop!  I am also getting into the Open House spirit and if you contact me it would be my pleasure to give you a guided tour of the community as well as the model homes!  Just give me a call and we will set up a time!  Thank you so much for reading, leave comments and as always visit: Vegasdreamsellers.com

Senior Economist says the Las Vegas Housing Market is poised to rally!!

NAR Senior Economist Lawrence Yun

NAR Senior Economist Lawrence Yun

The National Association of Realtors’ Chief Economist made a statement at the Realtor’s Rocky Mountain Regional Conference in Las Vegas last week that may surprise you.  He not only said what I have been saying all along that “Low mortgage rates combined with first-time home-buyer assistance from the stimulus package, will push buyers off the fence and into affordable homes”, Mr Yun said.  I paraphrased most of his speech as reprinted from the Las Vegas Review Journal.   “I think Vegas will be the bell weather of how the nation will recover”, he said.  “Rising sales could help stabilize prices by the end of the year.  Vegas is a leading edge and portends what’s coming for the rest o f the country and also for financial institutions.”  He went on to say that “…monthly sales of existing homes have doubled for the past few months, a precondition for prices to stabilize.  The long-term prospect for Las Vegas is bright because baby-boomers reaching retirement age are migrating to cities with warm climates and favorable tax structures, the economist said. (see my post National Publications are Buzzing about Las Vegas)  ”  The home buyer tax credit accounts for less than $10 billion of the new $787 billion stimulus package, a rather small amount, but nonetheless sufficient to help spark a comeback, Yun said.  “I’m a little disappointed that it didn’t address as much as it could have, given the size of the bill,’ he said.  The plan features an $8000, non-refundable tax credit for first- time home buyers and it raises FHA limits to $400,000 in Las Vegas.  The media has led us to believe that new home sales have totally collapsed but their production has been cut way back, which is keeping inventory levels in check so naturally fewer sales will result. 
So prices are low and a PHD in economics predicts that Las Vegas will the first to emerge from the housing crisis!  So what have we learned?  The window of opportunity to take advantage of the current price levels is slowly closing and recovery is coming in the near future!   If you have questions or comments please leave them in the space below and make sure you visit my website Vegasdreamsellers.com to search for homes and to contact me directly for more information! 

New Residential Opportunities in Summerlin!

Boulder Ridge by Christopher Homes

 

 

I recently toured the models at Boulder Ridge by Christopher Homeslocated in the Fabulous Ridges Village in Summerlin.  The Ridges is a large multi-neighborhood, guard-gated custom home community which was named the Third Most Expensive Gated Community In the US by Forbes.com.  Christopher homes is building this small neighborhood of 46 Frank Lloydesq palaces nestled in the hillside bordering the Red Rock Canyon National Conversation Area to the west and the glittering Las Vegas Strip to the East.  Bordering Red Rock is a very uncommon and rare feature of these beautiful homes because nothing will be built behind this community, so put on your hiking boots and grab the Camelback and enjoy hiking in one of the most spectacular places in the world right from your back yard gate!

Christopher Homes is taking the headache out of building a custom home in Boulder Ridge but still allowing buyers the flexibility to customize the home to match their uses and tastes!   The design is contemporary and they are so full of features they are hard to describe.  These home are perfect for entertaining or large family because they have huge kitchens with two of everything, butlers pantries and formal dining rooms.  The floorplans have large open areas that can be customized as family or living rooms or home theaters. 

Torino Model

Torino Model

Villa Trieste by Pulte Homes located in Summerlin Centre.  Pulte has done a fabulous job of designing and building LEED Certified homes here in Las Vegas!  These are very energy efficient and incorporate roof tile solar power units, tankless water heaters, bi-flush toilets, high efficiency a/c units and the Pulte insulation and quality we expect.  These homes are located in a small neighborhood in West Park in Summerlin Centre directly to the west from the Red Rock Resort and the now stalled Shoppes at Summerlin Centre. 
These are VERY UNIQUE HOMES that are different from every product available in Las Vegas at this time!  What makes them different is the power generating capability of the solar cells and all of the energy and water conserving features that are all part of the base price of the homes in addition to courtyards and small, low maintenance rear yards with just enough space for a small barbecue or cocktail party.  So the bottom line is dramatic energy savings,  high quality construction, appealing, well designed floorplans in a very low maintenance, efficient package!  Best of all, these homes start in the low $200,000s (prices not currently available for new single family residences) and will be within walking distance to the new mall!  What a tremendous opportunity this is for primary residents, a second or vacation home or even as  an investment property!  It would be my pleasure to answer any questions you may have so leave me a comment, contact me directly or visit Vegasdreamsellers.com!

Is Water a reason not to buy real estate in Las Vegas? (part 2)

Hoover Dam, Lake Mead and the Colorado RiverHow does the Las Vegas Valley and Clark County continue to grow if we are running out of water from our main source the Colorado River?  I am very impressed with Mrs. Mulroy and the Southern Nevada Water Authorityand the manifold methods in which they have searched for solutions to this problem!  First and most obvious way to find new supplies of water is through conservation.  I know most people do not think that this is possible but the SNWA started conservation campaigns that offered to pay property owners $1-$3  dollars per square foot of grass they removed and converted to drought tolerant or low water use shrubs and trees.  Mrs. Mulroy estimated that enough grass was removed in the Las Vegas Valley to almost encircle the globe!  Through this very successful program and conservation awareness in general Las Vegas is now using the same amount of water than it did in 1995! 

In addition to conservaton, the Authorityhas won battles to include the water from the Virgin River flowing into Lake Mead to the acre feet per year that can be taken from the River.  In addition to this new source of water the Authority has entered into water banking agreements with California and Arizona which will allow the states to bank their unused or uncommitted water in the other’s share adding to their allowed amount.  Both of these strategies effectively add to the allotment of Colorado River water that Southern Nevada can draw from. 

The last strategy and the most controversial is the SNWA’s plan to build a pipeline from Northern Nevada to Southern Nevada to tap the unused portion of aquifers in rural White Pine and Lincoln counties.  The ranchers in these valleys are envoking the memories of Los Angeles Water and Power’s stealing of the water from the now dried up Owens River and Owens Lake.  However, the Nevada State hydrologisthas granted the majority of the Authority’s requests for this “unused” water and when this supply is available it will ensure Southern Nevada’s growth for decades to come!  So don’t let water be an issue when considering a purchase of real estate in the Las Vegas area as Pat Mulroy says “We won’t run out of water, it will just cost more!” I hope you enjoyed this piece please leave me a comment and visit my website Vegasdreamsellers.com

Is Water a reason not to Buy Real Estate in Las Vegas? (part 1)

Pat Mulroy, General Manager of the Southern Nevada Water Authority

Is water really a reason not to buy real estate in Las Vegas?!  I hear this all the time from people who do not live in the Valley.  It is a valid question especially considering all the media attention given to global warming and the changing climate.  To start the discussion its important to know that when the Colorado River Compact was signed in the 1922 no one realized that lowly Las Vegas would grow to the extent that it has and our city was only allocated 4% or 300,000 acre feet of water per year of the total lower basin allocation.  In comparison, Arizona was granted 37.30% or 2.8 million acre feet and California was granted 58.7% or 4.4 million acre feet per year that can be drawn from the lower Colorado. 

So we start with a deficit!  In 1922 the population of Clark County was less and 5,000 people and now in 2008 we have more than 2 million and the allocation is still the same!  By the way, an acre foot of water is equal to an acre of land covered by water one foot deep or 325,851 gallons or what is considered the annual usage by a family of four for a year.  Family’s in the Southwest use only .25AF/year.  Since the compact is not changeable Mrs. Mulroy needed alternatives to ensure that Southern Nevada had enough water now and into the future assuming that we will have another million people residing in Las Vegas by 2030.

Part two next time…   In the mean time ask questions or comments!  Please visit my website as well!

Why does the media give Vegas the “bum rap”?

CNBC's Jane Wells

CNBC

I have been showing you several articles of late that see the value of  buying real estate in Las Vegas for investment or for second or vacation home purposes.  Some periodicals have however, been telling readers to expect “prices” to decline in Las Vegas another 20-30% over the next year and not to expect any improvement until 2010 or even later. 
These periodicals like Money magazine tell readers if they were to buy in Las Vegas to offer “30% less than asking price”!  Most bank owned properties list at well below current market value to attract multiple offers and then counter the highest few  and then settle on a price higher than originally asked.  In these situations, I tell my clients that if they want the property they need to offer more than the asking price since they will be competing against many other buyers for the home. 
So how does this jive with offering 30% less than asking on any property in Las Vegas- It does not work!  Maybe compared to the original price but not in this market!  This has only created confusion and misunderstanding among potential buyers and sellers in this crazy market.
Check out the Video about the Vegas market with Jane Wells:
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