August 2013

Found 5 blog entries for August 2013.

Toll Brothers has established themselves as a top luxury home builder in the Las Vegas and Henderson market.  The homes they build tend to have nice standard finishes with an assortment of upgrades to choose from.  Over the past few years, Toll Brothers completed most of their communities.  Over recent months, Toll Brothers has finally started building new subdivisions.

At Savona in Northwest Las Vegas, we find two single story floor plans are being built.  This is a gated community that is just up the hill from the Centennial Hills Hospital.  It's convenient to the 215 Beltway and the 95 Fwy.  Residents can reach the Strip in 25 minutes, the heart of Summerlin in 15 minutes.  When complete, the community will have 64 half acre homes.  Base Prices are

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Beazer Homes - Las Vegas New Home Builders offers nice finishes at a budget conscious price.  If you visit Beazer's website, you will notice in the first paragraph they mention their goal of providing "comfort and savings".

 

Beazer has been building in Las Vegas for decades.  While Beazer has a reputation as a builder for the budget conscious, they have begun incorporating some nice touches into their homes.  Our first time home buyers who purchased a Beazer home in the Summer of 2012, were able to have granite counter tops throughout, a tankless water heater, pavers in the front of the home and ceramic tile floors throughout the downstairs.  Their final price was $149K.  A year later, Beazer is offering similar homes with a starting base price of

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Buyers who are tired of bidding wars and distressed sales are turning to new construction homes.  After you find the new home builder and the floorplan that you like, one of your first steps will be choosing your options.  In other words - upgrades.  It is important to keep your budget in mind.  Most builders will ask for a 50% deposit for the upgrades.  That deposit will be counted towards your down payment at closing.  It can also be at risk if you should change your mind about buying the home.

Keep the appraisal in mind.  Most new home builders have a fairly good idea as to where the home will likely appraise, especially if they've already sold a few of the same floor plan.  If the same home just sold for $400K and your upgrades bring the cost of

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Las Vegas High Rise Market Update - August 2013

The Strip high rise market is showing signs of catching recovery fever.  If we look at activity in our most popular high rise buildings (built after 2000 with at least 10 floors), we sold 53 condos through the Greater Las Vegas MLS during the month of July.  In the same buildings, we currently have 341 condos listed for sale without offers.  That is just over a six month supply which meets the National Association of Realtor's guidelines for a "balanced" market that doesn't favor buyers or sellers.

Veer Towers has recently reported the sale of 70 high rise condos during the first half of 2013 as reported in the Las Vegas Review Journal. The most interesting part of the RJ's article, "But there’s a

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Las Vegas continues to lead the Nation in recovery.  Today's report from Clear Capital out of Truckee, CA, reports that Las Vegas' yearly gains grew to 31.2% in July.  As Clear Capital notes, "While Las Vegas leads the recovery, its median price of $145,000 ranks it below 35 of the top 50 markets. This suggests low price points are in part driving Las Vegas’ gains".

As of this afternoon, we have 4843 single family homes listed for sale in the Greater Las Vegas MLS.  This includes homes listed in Henderson and North Las Vegas.  That is a moderate increase over the available 4014 single family homes we reported in last month's update.  We currently have 1251 condos and townhomes listed.  Combining the two gives us 6094 options for home buyers, not

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