Excitement builds in Summerlin!

Shoppes at Summerlin

Shoppes at Summerlin
After an almost three-year hiatus (work stoppage), I have heard that the Shoppes at Summerlin has obtained building permits to resume construction on this 1$ Billion Dollar lifestyle mall!  My post of September 4, 2008 detailed why the work was stopped and that it was predicted to restart in one year. 
Almost three years later, I have learned that the permits were pulled and that they have six months to restart work.  I am sure that they will have a grand re-ground breaking ceremony or announcement and or celebration to mark the occasion which I will absolutely cover here! Resumption and soon subsequent completion of the Lifetime Fitness Diamond facility in Summerlin Centre  is underway with completion on May 15,2011.  This should be a good indication of demand for higher end products and services which should be a signal for the Howard Hughes Corporation to pull the trigger and restart the Shoppes! 
 
Restarting construction of the Shoppes is a big milestone for the area because the closest mall, The Meadows, is around 30 years old and the Fashion Show on the Strip is around a 25 minute drive.  We are in need of an upscale shopping experience close to Summerlin!  Completion of the Shoppes will take about 2 1/2 years when most predict economic conditions will be greatly improved from today.  The Shoppes will be an 1.6 million square feet  outdoor, regional mall with committed tenants including Nordstrom, Dillard’s, Macy’s and Crate and Barrel.  This will be a fabulous addition to the area and will be great for area real estate values as well.    When  people from around  the Valley and out-of-town see this incredible development and how it is so close to the homes in the area, I believe it will increase sales and values!   What do you think?  Please leave me a comment or two and contact me for more information about Summerlin Real Estate!

Shoppes at Summerlin

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I want to give a shout out to a new business in Las Vegas!

I have heard that people who open businesses in recessions put themselves ahead of the game when the economy recovers because they have weathered the storm.  So anyone who starts a new business in this economy must be a genius!  I recently met a young entrepreneur who has done just that and I wanted to give her some well deserved credit!  Kelly Villatoro started a design and home staging company called Luxurious Living here in Fabulous Las Vegas!  I love design and architecture so I decided to take a look at her portfolio and was very impressed!  Educated in design at UNLV and CSN, Kelly went to work for a firm here in Las Vegas that was based in Canada called Haverhill Home Staging before striking out on her own.  Kelly maintains membership in the Association of Design Education and is studying to be a Leed Accredited Professional.  I have found her to be very practical in her use of space and how it relates to the design and the elements within it. 

A home stager gives potential buyers ideas how to set up a space as well as making homes more attractive through incorporating colors and pieces that make it unresistable to buyers!  Home builders do the same thing with their model homes and as you can imagine the homes sell quicker and for more money when they are perfectly staged!    Kelly and Luxurious Living do it better than I have seen and I heartily recommend them for both impeccable design as well as home staging when selling your home!  So when you are ready to sell you home give me a call and we will put Luxurious Living on the job! 

Make sure to watch for upcoming posts about the recovering Las Vegas Real Estate Market as well as new developments in Summerlin!

What is going on in the Las Vegas real estate market you ask?

Las Vegas Lifestyle

Las Vegas Lifestyle

I get this question quite frequently and most people who ask are very surprised at the answer.  Las Vegas is experiencing tremendous sales activity and in the month of June an all-time sales record was exceeded.  The number of resale homes available to be purchased is around a three months supply at the current consumption rate.  Clients of mine who travel to Las Vegas from out-of-town are amazed at the quality of life here and the low prices of homes.  The local Las Vegas Review Journal recently reported that Nevada is in the top ten states in the Nation for the best Economic Outlook.  Right now in Las Vegas we have more resale homes under contract then are available to purchase and it costs less to own a home than it costs to rent!  These are both indicators that the current housing market is undervalued because when you consider the tax benefits and appreciation potential of owning a home it should cost more than renting.  You also must insure a home in Las Vegas for more than the current prices because it will cost more to rebuild if damaged! 

I think that our low tax structure will most assuredly be a driver of our economic growth as is our warm climate since 7918 people in the US turn 60 every day(according to the US Census Bureau) !  When the Baby Boomers retire they will be looking for warmer climates and environs that have low tax structures which Nevada and especially Las Vegas have.  This is not a political blog but with the Bush tax cuts expiring next year and the current Administration’s expansion of government higher taxes is a certainty!  Those in the highest tax brackets in the higher tax states like New York, New Jersey and California may be facing tax bills in excess of 50% including property, income and business taxes.  Nevada is one of the states with the lowest tax burden and we just FELL a notch and are now number four in the Nation for lowest business tax environment!  And as proof of this more high net worth individuals are moving to Nevada and relocating their businesses here in growing numbers. 

Major Institutions are also investing in the Las Vegas community:   the prestigious  Brookings Institute just announced a joint initiative with UNLV to improve the quality of life in the US Southwest with an emphasis on Las Vegas,  and the World-Renowned Cleveland Clinic, partner in the Lou Ruvo Center for Brain Health  in  Symphony Park in Downtown Las Vegas is starting a feasibility study on head-quartering a Clinic location within Symphony Park. 

Las Vegas is a great place to live and will make a great place to relocate, purchase your second or vacation or investment property!  Please leave me any questions or comments in the space below and make sure to visit Vegasdreamsellers.com!

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!

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!

I just attended the Southern Nevada Housing Day…

Dennis Smith, President of Home Builders Research (Courtesy of Las Vegas Review Journal) I just attended the Southern Nevada Housing Day 2008 conference for members of the local home building industry.  This event was attended by myself and about 700 real estate, building and development professionals.  I was there to hear the economists speak on the health of the local economy and real estate market.  The keynote speaker was Bernard Markstein, director of forecasting and analysis for the National Association of Homebuilders.  Mr. Markstein is a very knowledgeable man and spoke mainly about the National economy and housing market -I however,  was there to hear the local perspective.  Mr. Dennis Smith, President of Home Builders Research, Inc.of Las Vegas delivered just that,  a detailed analysis of the local housing market and when or if a bottom has been reached. 

Mr. Smith said that since the supply of both resale and new housing are contracting and the demand being steady we are either at the bottom or very near it.  “Any recovery will not be in a “V” shape but a flat bottom “U”!”  Meaning that we could be here in the bottom for a while before sales and prices pick up but it may take until end of 2008 or 2009 before we see much in the way of relief!  So if you are a buyer or thinking about buying real estate in Las Vegas your time is slowly ticking away to take advantage of the current price levels!  Like I have said before, the time to buy is now and we may never see prices this low again in Las Vegas!  Even a recent post on the Trump Blog states “The truth is, now is a great time to invest in real estate! Whether it is for your primary use or investment, there are great deals to be had.“!  (Remember about the data in my recent post)  So search for real estate on Vegasdreamsellers.com and leave me a comment, ask questions or just chat!

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