Las Vegas Real Estate Market News, November 2014
GLVAR reported the median price of single-family homes sold through its Multiple Listing Service during October was $199,900. That’s down 1.3 percent from $202,500 in September, but still up 8.1 percent from one year ago. Meanwhile, the median price of condominiums and townhomes sold in October was $99,000, down 5.0 percent from $104,250 in September and down 1.0 percent from one year ago. “It’s not that surprising to see home prices start to dip as the weather cools off and we head into the holidays,” said GLVAR President Heidi Kasama, a longtime local REALTOR®. “Local home prices have been stabilizing for months, and homes are taking longer to sell. In fact, I wouldn’t be surprised to see this trend of slower sales and prices continue for the rest of 2014 and through the winter months.” Kasama pointed out that GLVAR’s median local home price is still well below the June 2006 peak of $315,000. Single-family home prices bottomed out at a median of $118,000 in January 2012 before increasing by 24 percent per year in 2012 and 2013.
What do do these stats mean to you if you are considering buying a home? In a nutshell, it is a great time to buy a home. Inventory is up and competition is down. As the holidays approach there are less buyers looking for homes this gives you and your agent negotiating power with the seller. We are seeing homes staying on the market longer and very few multiple offer situations.
Call Steven today to discuss your real estate needs.
Summerlin Las Vegas Real Estate
Learn more about Summerlin Las Vegas Real Estate. Visit www.findinghomesinlasvegas.com to search for Summerlin Las Vegas homes.
Summerlin is nestled in the foothills on the western rim of the Las Vegas valley, adjacent to the Red Rock Canyon National Conservation Area. It is approximately 20 minutes from the World famous Las Vegas strip. Boasting 22,500 acres Summerlin is a master-planned community that offers its residents a wonderful quality of life, incredible views of the Las Vegas Strip and the most diverse collection of housing options and real estate in Southern Nevada.
Since 1990 this community has grown to encompass more than 150 parks, 24+ public and private schools, 14 houses of worship, 9 golf courses, 3 resort hotels, world class shopping, dining, entertainment centers and a state-of-the-art medical center
Summerlin is the perfect community for the outdoor enthusiasts. Hiking, biking, walking, rock climbing, golf, and swimming are just a few of the many activities available to the residents.
Currently there are 19 Villages in the Summerlin area, in the future there will be a total of 31. Each Village has its own trail system that connects into the Summerlin master trail network. Summerlin spans over 4 zip codes, 89134, 89135, 89138 and 89144. There are a variety of real estate options available in Summerlin in every price range. From cozy 1 bedroom condos to sprawling estates, there is something for everyone in this fabulous community. For those looking for a place to retire Summerlin is also home to Sun City, an amazing community for those 55 and over. Sun City Summerlin is at a higher altitude of 3000 feet and boasts 7779 homes which includes single family, garden villas as well as patio homes.
Summerlin is a great place to call home and we would be happy to assist you with your research and your home search.
Visit www.findinghomesinlasvegas.com to set up a real estate search for homes in Summerlin or call us and let us customize a search for you.
The Sales Team
Las Vegas, NV Real Estate Market Watch
Have you been watching the Las Vegas real estate market? Are you considering a move? With Spring upon us, it is a great time to buy or sell a home in the Las Vegas valley. Inventory is up, which means there are more homes on the market. A lot of investors have left our market, which means less competition. Mortgage rates have remained low and there are new programs out there for those interested in purchasing a home with only 1/2% down. Traditional sales have taken over from Short Sales and Foreclosures which means faster closings and no hassling with the banks. After a flat start to the year, Las Vegas home prices are on the rise again.
The median sales price of previously owned single-family homes in Southern Nevada in February was $190,000, up 2.7 percent from January and 26.7 percent from a year ago, says a new report from the Greater Las Vegas Association of Realtors.
January’s median, $185,000, the same as December 2013.
If you are interested in buying or selling a home in the Las Vegas area we invite you to visit our website at www.findinghomesinlasvegas.com. On our website you can search for homes, set up listing alerts, subscribe to market news, and request a CMA to get the value of your current home. If you have any questions or need assistance please feel free to contact us at your convenience.
We look forward to speaking with you!
The Sales Team
Las Vegas Real Estate Market Watch!
Tis the Season for House Hunting!
What is going on in the Las Vegas Real Estate Market? Is it a good time to purchase a home? After a one-month dip, Las Vegas home prices are climbing again. The median sales price of previously owned single-family homes in Southern Nevada in October was $185,000, up 3 percent from September and 32 percent from October 2012, according to a new report from the Greater Las Vegas Association of Realtors.
Prices had slipped 1 percent in September from August, marking the first time in almost two years that Las Vegas home prices fell from the previous month.
In a prepared statement, GLVAR President Dave Tina said he would not be surprised if home prices dip again this year, as “prices and sales usually cool off along with the weather and the holiday season.”
Las Vegas was ground zero for the housing crash last decade, but prices have been soaring at one of the fastest rates nationally this year amid limited inventory and strong demand from investors, who have been snapping up cheap homes to turn into rentals.
Inventory levels are up! What does this mean to the buyer? With inventory levels up, there are more homes on the market and less competition. It is easier for a buyer to get an offer accepted. We are seeing fewer multiple offers situations and homes tend to be staying on the market much longer than the previous 3-12 months. The Holidays are a great time to house hunt as the pool of buyers decreases dramatically. Tis the season to house hunt, the perfect gift this season is finding your dream home!
The Sales Team
Keller Williams Marketplace
Welcome to Boulder City, NV
Community & Real Estate Information
Boulder City is located approximately 20 miles from Las Vegas, NV and 8 miles from Henderson, NV. Boulder City is one of only two cities in Nevada that prohibit gambling, yet is close to many casinos for those who wish to try their luck! Boulder City is a quaint town with family values and a lot of charm. While most cities in the American west are relatively “new” compared to older cities in the east and elsewhere, Boulder City, Nevada is significantly historic with regard to its creation and relationship to the Hoover Dam. The city was created by the federal government in the early 1930′s to house the management and construction workers who built and later operated the dam, and the city remained under federal jurisdiction until 1959. Much information about the dam’s creation and the city’s history can be obtained through various media sources such as books, the internet and documentaries on cable television, as well as at the dam itself and the local Boulder City-Hoover Dam Museum.
With a population of approximately 15,000 people Boulder City is home to retirees, families, artists and many others. In the heart of Boulder City is the downtown district which offers an array of restaurants, antique shops, gift shops, lodging, government buildings and many other small businesses.
There are numerous parks throughout the town, a city pool, two golf courses, hiking and mountain biking trails and is only a few miles to Lake Mead. Boulder City is host to many festivals and community events throughout the year including: Art in the Park in October and the Best Dam BBQ Festival in May. Holidays are always a good time in Boulder City with Fireworks on 4th of July and numerous parades throughout the year.
There are many real estate options available in Boulder City, from cozy, affordable condos to sprawling mansions overlooking Lake Mead and everything in between. The current median sales price is $166,500 and $127 per square foot. The historic district consists of several hundred homes and businesses that were built in the 1930’s and 40’s and in 1983 were listed on the National Register of Historic Places. There are some really interesting homes here and some have been completely restored and modernized but the historic features and architecture are still in place.
Boulder City is a great place to call home and offers so much to its residents. Family values, small town feel, low crime rates, affordable housing, location and so much more!
If you are interested in learning more about Boulder City or would like a customized MLS email search set up call the Sales Team today at 702-845-5348, visit us online at www.findinghomesinlasvegas.com or email us at email@example.com.
THE SALES TEAM
Why Retire in Las Vegas, NV?
There is more to Las Vegas than casinos, showgirls and endless buffets. We are proud to be the Entertainment Capital of the World, but the Las Vegas Valley has so much more to offer. If you are considering retiring in Las Vegas, Henderson or Boulder City, we have put this post together to discuss a few of the benefits of living in our wonderful community.
First of all housing is very reasonable in Las Vegas and there are an array of different housing options. From active adult communities, high rise condos, town homes, assisted living, gated communities and luxury living, we have something for every taste and every budget. To get an idea of pricing and neighborhoods visit www.findinghomesinlasvegas.com to search for homes. If you would need assistance in setting up a listing alert, email or call us anytime!
Sun City has many communities throughout the valley. Sun City Aliante and Sun City Summerlin are the Vegas communities and Sun City Anthem and Sun City McDonald Ranch are the Henderson communities. Sun City Anthem has been recently named one of the best places to retire in America. These Master Planned Communities are age restricted, offer many different housing options, have wonderful amenities, golf, clubs, activities and are in close proximity to the Las Vegas Strip and Mccarran Airport.
Nevada has no state personal income tax, no inheritance tax, no estate/gift tax, no capital stock tax or corporate income tax. These are all very important factors to consider when deciding where to retire. The State tax in Nevada is 8.1% and food and prescription medication is exempt. Property taxes are based on the assessed value of the home and differ by district.
Las Vegas is in close proximity to the mountains, hiking, skiing, fishing, boating, and many National Parks. Lake Mead is a 30 minute drive away. The Grand Canyon South Rim is 285 miles and we are only 230 miles to the fabulous beaches of Southern California. Our climate is hot in the summer with very little humidity and very mild in the winter. We have very little rainfall and plenty of sunshine throughout the year with an average of 292 days of bright sunshine!
If shopping, dining and entertainment are important to you, we have it all. From top Celebrity Chef restaurants to wonderful locally owned dives there is something for every budget and every craving. Shopping is not only on the Strip, we have wonderful shopping malls and locally owned stores throughout the valley. If you like antiques, Boulder City is a short drive away and offers many antique shops to find treasures. There are top shows on the strip, Broadway shows, attractions, theaters, art exhibits, concerts, museums and so much more. Casinos are plentiful in the valley, from smaller local dives to elaborate luxury casinos on and off the strip.
There are many parks, community recreational centers as well as libraries and churches all over the valley. We also have many anual festivals, parades and other community events going on throughout the year.
There are several reasons to consider retiring in Las Vegas, weather, financial, location and amenities are just a few. We would be happy to answer any specific questions for you, set up a home search on www.findinghomesinlasvegas.com or send you a complimentary relocation package. Email us at firstname.lastname@example.org or call us at 702-845-5348.
Tuscany Village, Henderson, NV, A Wonderful Master planned Community!
May is upon us, Spring is in the air and this months featured community is Tuscany Village! Tuscany Village is a Master Planned Community located in the South East part of the Valley in the City of Henderson, NV. This amazing 24 hour guard gated community features a stunning, state of the art clubhouse, top ranked golf course, golf club and a wide variety of real estate options. Homes in Tuscany range from the mid $100,000′s to over $600,000 and include floor plans from 1200 square feet to over 4000 square feet. There are one story, two story and three story models as well as townhomes available. With award winning architectural designs and meticulously crafted interiors you are certain to find your dream home in Tuscany. Visit www.findinghomesinlasvegas.com to search for homes in Tuscany or call us to set up a customized search for you.
Tuscany Village is located approximately 20-25 minutes from the airport and the world famous Las Vegas Strip. It is just minutes to Lake Las Vegas and a short drive to Lake Mead. Lake Las Vegas offers incredible shopping, dining, accommodations, events, concerts and a casino.
Tuscany’s clubhouse is named La Vita Tuscana and offers an abundance of amenities. This 35,000 square foot, state of the art facility boasts a fitness center, a basketball court, racquetball, badminton, meeting space and offers numerous classes as well as planned activities. Outdoors, enjoy the two swimming pools, relax on the beautiful patio, play beach volley ball, basketball or take the kids to the playground.
Tuscany’s Golf Course has been named number 1 by Golf Magazine for two years in a row for it’s BBQ rankings!(Bang for the Buck Quotient). This gorgeous, 72 par, beautifully maintained public golf course was designed by Ted Robinson and offers players a challenging 18 holes while enjoying the beautiful surroundings.
For information on schools, hospitals, shopping and utility information please visit: http://www.mytuscanyvillage.com/myNeighborhood.html.
Tuscany is still building new homes and offers models for touring a few of the amazing floor plans. There are also many re-sale properties available. If you are considering renting, Tuscany does have rental properties and tenants enjoy all of the wonderful amenities Tuscany Village has to offer. To learn more about the real estate options in Tuscany or any other community call the Sales Team today at 702-845-5348 or visit www.findinghomesinlasvegas.com.
The Sales Team
Green Valley, Henderson, NV
Are you considering moving to the Las Vegas Valley? Do you want to learn more about our wonderful community? You have come to the right place, The Sales Team will be highlighting a different community within our valley each month. April brings: Spring, warmer weather, blooming foliage and Green Valley!
Green Valley is located in Henderson NV in the South East part of the valley. The primary zip codes for Green Valley are 89074 and 89014. This may be helpful to you if you are setting up a home search on our website at www.findinghomesinlasvegas.com. There are a couple other zip codes on the outskirts of GV to consider as well, contact us if you need assistance in setting up a search.
Green Valley was one of the first master planned communities built off the Strip in the later 1970′s. It is one of the most desirable places to live in the entire Las Vegas Valley. Green Valley boasts over 8400 acres and consists of: beautiful parks, lush landscaping, walking trails, amazing views, fabulous shopping, tasty dining options, great schools, churches, theaters, casinos, an outdoor amphitheater and so much more! Green Valley has easy freeway access and is a short drive to the Las Vegas Strip, Charming Boulder City and Lake Mead Recreational Park. Henderson offers a great sense of community and offers its residents a high quality lifestyle.
Green Valley offers an abundance of Real Estate options to choose from. From budget friendly condos and town homes to exquisite estates and everything in between. Prices range from under $100,000 to well over $1,000,000. There are also many choices for those wishing to lease, from apartment complexes to single family homes, there is something for everyone in every price range. We would be happy to set up a search for you or to answer any questions that you may have about Green Valley or any other community in the Valley.
Public education is provided by the Clark County School district and there are private school options as well.
In the heart of Green Valley you will find The District at Green Valley Ranch, a mixed use metropolitan community consisting of a great shopping and dining district, beautiful condos, offices, and the vibrant Green Valley Ranch. Green Valley Ranch is a Station Casino property and boasts exciting gaming, lounges, wonderful dining, lively entertainment, meeting space, beautiful accommodations and a movie theater.
The Henderson Pavilion, nestled across the street from the District is the largest outdoor theater in Nevada and offers a breathtaking venue for arts and entertainment. With seating for over 4000 patrons, this covered venue offers a great experience to see your favorite concerts, plays, and many other events. They also host large conventions, community events as well as corporate functions.
There is a large mall minutes from Green Valley, The Galleria Mall, which offers shoppers a variety of stores and dining.
There are an array of medical choices in or near Green Valley, the closest hospital is St. Rose Dominican Sierra Campus and is just minutes away. To learn more about this hospital visit: http://www.strosehospitals.org/index.htm
Green Valley offers a bit of everything for everyone. From great schools, incredible shopping, dining, amazing parks, spectacular views to vibrant nightlife, Green Valley is a great place to call home! To learn more about Green Valley, the Las Vegas Valley or if you have any questions at all, please feel free to call us at 702-845-5348. We are here to help!
The Sales Team
Local attorney Robert Massey reported this morning on the Las Vegas Channel 5 morning news that a proposed bill to extend the Mortgage Debt Forgiveness Act of 2007 is currently hung up in the United States House Ways and Means committee due to disagreements among various members as to whether or how the this law should be extended. He said this is extremely important for states like Nevada and Florida where the volume of foreclosures has been tremendously high. He said that he believes failure to extend the law will cause a huge spike in the number of individual bankruptcies that will be filed.
A bill to extend the law had passed the United States Senate Finance Committee before Congress adjourned to campaign for the November election. The Senate has so far taken no further action.
The Mortgage Debt Forgiveness Act of 2007 allows borrowers who have been forgiven the “under water” amount they owed on their mortgages by their lenders(s) when they Short Sold their home or were foreclosed upon to avoid paying income tax on the amount forgiven. Typically, under U.S. Tax Code, the amount forgiven would be classified as “phantom income” to the borrower/taxpayer. This means the borrower/taxpayer would have to pay income tax at the ordinary income tax rate (not the capital gains rate) on the amount forgiven as if the borrower/taxpayer had received a check for that amount. This is why Mr. Massey expects that bankruptcy activity would mushroom if the Mortgage Debt Forgiveness Act of 2007 is not extended.
There have been recent rumors that the Mortgage Debt Forgiveness Act of 2007 will be extended for two years, but they are only rumors at this point.
Please contact your U.S. Representative and your U.S. Senators to ask them to act on an extension of Mortgage Debt Forgiveness Act of 2007, during the Lame Duck session of Congress, before the end of 2012. The act is currently scheduled to expire December 31, 2012.
Members of the Nevada Congressional delegation can be contacted as follows.
- Senator Harry Reid -> 702-388-5020
- Senator Dean Heller -> 702-388-6605
- Representative Shelly Berkley ->702-220-9823
- Representative Mark Amodei ->775-686-5760
- Representative Joe Heck ->702-387-4941
If you have questions about this or other real estate related matters, please contact The Sales Team.