Nevada Real Estate >> Las Vegas Real Estate Specialist: April 2007

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Schools (4/16/2007) Zoned are: Sierra Vista High School, Fertitta Middle School (soon to be Faiss) & Wayne Tenaka Elementary school. With extreme growth in the valley schools change quickly and for no rhyme or reason so it is always best to check online for current zoning with Clark County School District.

There are exactly 291 homes in this neighborhood ranging from 1105-1759 square feet. The builder was Astoria and these homes were built between 2001-2003.

We can help you find rentals, buy or sell in Canyon Trails! As always: we provide no cost buyer's agency and renter's assistance!

Canyon Trails is walking distance from shopping, restaurants and gaming. When minutes matter: Canyon Trails is conveniently located close to two major hospitals.

All the Best,

I have noticed a trend that affordable Las Vegas rentals are disappearing from the rental listings.  I decided to delve a little deeper. 

• Average Rent Prices have gone up from $1295 (Jan 2007) to $1453 (Mar 2007)
  
• Median Rent Prices have stayed stable at approx $1200 since July 2006
• There has been decent penetration in the rental market under $1300/month in February/March 2007

These are only listings in the GLVAR MLS but this is a trend that shouldn't be looked at lightly.  This is more excellent news for the resale market that needs help. 

Several possible things can happen here: 

• Investors may take their homes off of the resale market and rent them out since their ROI has increased
• Long term investor buying speculation will hit the resale market
• Renters will turn into buyers

Welcome Home to Desert Shores Community Located in Northwest Las Vegas!

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Desert Shores is a master planned community developed in 1988 by RA Builders.

There are 3,068 Homes with choices ranging from Condominiums to Lake Front Luxury.

Ducks, geese and swans are prolific residents in the three lakes that are in the middle of the community!

Community Amenities Include: Three lakes with public paddle boat launching areas for the residents, a beach club, picnic areas, volleyball, basketball, playground, clubhouse and fishing.

It is nice to walk the tree lined streets and the lush atmosphere make you forget you are in the desert!

Click here for a virtual tour of the area!

All the Best,

Sierra Ranch is located in North Las Vegas.

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There are many different housing choices from entry level choices starting at 1476 square feet to larger choices of 3803 square feet.

There are five different collections:

• The Apple Creek Collection ranges from 1612-2021 square feet with *some* three story homes. This is my personal favorite collection with some great standard elevations such as stone veneer
• The Butterfield Collection ranges from 1476-1734 square feet
• The Heartland Collection ranges from 2802-3361 square feet
• The Hillcrest Collection ranges from 2140-3803 square feet
• The Orchard Hill Collection ranges from 1867-2307 square feet

Quaint White Split Rail Fences outline the four common areas in this neighborhood. Community amenities include: a playground, soccer fields, picnic & walking areas.

Click here to view a virtual tour of this area!

KB Home is building this area and there are still opportunities (4/18/2007) to build a brand new home here! If you would like some pricing information, floor plans, view current listings, rentals or sell a home in Sierra Ranch please send Renee an email at: Renee@ReneeBurrows.com or call 702-580-1783

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Schools (4/16/2007) Zoned are: Sierra Vista High School, Fertitta Middle School (soon to be Faiss) & Wayne Tenaka Elementary school. With extreme growth in the valley schools change quickly and for no rhyme or reason so it is always best to check online for current zoning with Clark County School District.

Amenities include Pools & Playgrounds

There are exactly 394 homes in this neighborhood ranging from 1246-1421 square feet. The builder was Astoria and these homes were built between 2003-2006.

For More Information and to view the Virtual Tour w/ Floorplans go to www.IndependenceAstoria.com. We can help you find rentals, buy or sell in Independence Astoria! As always: we provide no cost buyer's agency and renter's assistance!

Independence Astoria is walking distance from shopping, restaurants and gaming. When minutes matter: Independence is located less than one mile from St Rose San Martin Campus Hospital.

All the Best,

The Trovas and The Trovas Cove are built by Desert Wind Builders.

It is close to the Eastern 215 Beltway just South of the Stephanie Exit and which gives it great proximity and a quick ride to the airport and south strip! It is also located just North of the Exclusive Guard Gated MacDonald Highlands.

It is minutes from Shopping and Green Valley Ranch: Home to "the District".

It is snuggled in the foothills which provides peek-a-boo views of the strip and surrounding mountains.

View a Virtual Tour of Trovas.

If you are interested in buying or selling a home in the Trovas: please contact Renee via email or phone: Renee@ReneeBurrows.com or 702-580-1783

A Zestimate (TM) is NOT an appraisal. It is just computer analytics of tax records (in short.)

With my last week of bumping around and posting four listings I have found that all Zestimates were off, three lower than they should be and one higher. Three were off by less than 10%, one was 26% off (that was the low end of the scale too!)

Now I am not an appraiser nor do I play one on Active Rain, I am a Realtor with access to the same information that Zillow has. It appears that information still needs to be looked at with eyeballs and analyzed by a human brain and cannot be computer generated to arrive at a conclusion.

Oddly enough the listing I have that Zillow ranks 26% under it's real value has two offers sitting on the table well above it's Zestimate (TM) in a category with 36 months inventory. The listing that I have priced below the Zestimate (TM) has nothing in a category with 22 months inventory.

Even though Zillow is free I just want to get a "buyer beware" out there and to take it for what it is: with just a grain of salt. If you are considering selling your home yourself, you should probably still get an appraisal or several Realtor opinions prior to pricing. The National Community Reinvestment Coalition has filed a complaint against Zillow with the FTC. Arizona Appraisers have ordered a cease and desist. You can see in my first point of a post I wrote in December, I could see this coming from a mile away.

David Gibbons is out there setting the record straight that the Zestimate (TM) is not a perfected science. He claims there are 4.1 visitors to zillow a month which makes it attractive to still market your homes on Zillow. I found the hits that I receive on Zillow are OK. Not great, not bad: Craigslist, Localism and Point2 generate more traffic still.

Economic Conditions for the Las Vegas Valley March 2007

Housing Conditions:

• Foreclosure/Short Sale Listings (4/14/2007):  Total Listings (4/14/2007)  23,675; Foreclosures Commenced: 806, 3.4% of all listings; Short Sales: 1104, 4.7% of all listings; Both Foreclosures Commenced AND Short Sales: 305, 1.2% of all listings.
• New Home Sales (February 2007, units sold):  1,142  Year Change -47.3% (excl condo conversions, highrises)
• New Home Sales (February 2007, median price):  $330,070  Year Change -4.4% (excl condo conversions, highrises)
• Existing Home Sales (February 2007, units sold):  2,332 Year Change -27.2%
• Existing Home Sales (February 2007, median price):  $289,000  Year Change:  2.5%
• Single Family Residential Permits (February 2007):  1170  Year Change -51.9%
• Apartment Rental Rate (4 Q 2006):  $850 Year Change +4.5%

My analysis:  New home standing inventory is pretty much non-existent with the exception of a few.  The Single Family Market under $300K is beginning to move with the least amount of inventory ~ only 6 months.  Standing inventory in this market is pretty much wiped out.  Very few building permits over the last six months means very few new homes are being built.  High resales are suffering with a whopping 36 months inventory.  I have watched rental rates rise the last week -2 weeks with lack of inventory.  First and Second Quarter 2007 changes will be interesting.

New Residents/Employment Conditions:

• New Residents (February 2007):  6,782, Year Change -7.4%
• Total Employment (February 2007):  933,300, Year Change +3.6%
• Unemployment Rate (February 2007)  4.3%, Year Change +13.2%

My analysis:  We need more jobs to continue strong growth.  Our employment rate is up from a year ago but has dropped from 4.7% in the last month.

Tourism/Gaming Conditions:

• McCarran Airport Total Passengers (January 2007):  3,669,613 Year Change +5.9%
• Gaming Revenue (January 2007):  $967,777,123, Year Change -2.0%
• Visitor Volume (January 2007):  3,545,886, Year Change -1.1%
• Convention Attendance (January 2007):  780,542, Year Change -5.7%
• Hotel/Motel Occupancy (January 2007):  85.4%  Year Change -0.8%

My analysis:  The gaming/tourism industry is still strong. 

Sources:  Salestraq, Home Builder's Research, Greater Las Vegas Association of Realtors, Nevada State Gaming Control Board, Nevada Department of Motor Vehicles,  McCarran International Airport, Las Vegas Convention & Visitor's Authority, Nevada Department of Employment, Training and Rehabilitation

*WOW* A MUST SEE former Pardee Model Home with many upgrades!

Granite Countertops, Built ins, Tile, Foyer Medallion, Skylight, Upgraded Carpet, Stainless Appliances, Cabinet Uppers, Volume Ceilings and Exterior Doors, French Doors from both Master and Dining area that Lead to a Backyard Oasis. 

Great Room and Master both wired for Surround.

Clean, Turn Key and Ready for Immediate Move-in! 

For more information on this great home and to view the virtual tour visit:

www.5314AzureView.info

If you would like to view this property:

• If you are already working with a Realtor, please tell them you would like to view ML# 708927
• If you are not working with a Realtor, please call 702-580-1783 to schedule a viewing with one of my Buyer's Representatives.  You will be required to sign a Buyer's Agency Agreement prior to viewing the property!
  

The District at Green Valley Ranch is located at the intersection of Village Walk Drive and Green Valley Parkway in Henderson. It is right off of the eastern 215 beltway.

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The District is a Mixed Use Development that contains Restaurants, Retail Shopping, Professional Offices, Gaming and Residential Loft Living.

Restaurants Include some large chains such as PF Changs and Cheesecake Factory. Small local favorites are: the Elephant Bar, Al's Garage, Kennedy's and Lucille's.

The retail shopping includes small boutiques along with large anchors such as Coach, Sharper Image and Williams Sonoma.

Green Valley Ranch Station Casino is right on property and not only does it provide gaming but every amenity you would expect from a strip casino: Hotel, Nightclub, Bars & Restaurants!

For More Information/Loft Floorplans/Virtual Tour click here.

If you are interested in Residential Rentals, Buying or Selling at The District please email: Renee@ReneeBurrows.com or call 702-580-1783. We can do Commercial Leases at The District also!

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Schools (1/292007) Zoned are:  Sierra Vista High School, Fertitta Middle School (soon to be Faiss) & Wayne Tenaka Elementary school.   With extreme growth in the valley schools change quickly and for no rhyme or reason so it is always best to check online for current zoning with Clark County School District.

Amenities include a Clubhouse, Pool, Spa, Basketball Court & Playground

There are exactly 360 homes in this neighborhood ranging from  843-1237 square feet.  The builder was Rhodes Homes and these homes were built between 2003-2005.

For More Information/Floorplans/Virtual Tour go to www.TheFalls411.com.  We can help you find rentals, buy or sell in The Falls!  As always:  we provide no cost buyer's agency and renter's assistance!

The Falls is walking distance from shopping, restaurants and gaming.  When minutes matter:  The Falls is located less than one mile from St Rose San Martin Campus Hospital.

I cannot begin to tell you how many non-motivated sellers have listings on the Las Vegas Real Estate market.

First off let me define a non-motivated seller. It is a seller who has their home on the market just because they "can"! They don't have to sell. They are just trying to see if they can get their price, are afraid the market is crashing and panic selling or just because.

So far, I believe it is our high inventory levels and the lack of motivation by so many sellers that has kept our home prices at stagnant levels. I do believe this is changing though!

For a motivated seller to make their property get some traffic & get sold, they are now pricing it WAY low. This is NOT good news for the listings out there that are just fishing for their unreasonable price & terms. Here is why: those homes sell for the low amount and then good luck on an appraisal when you finally do get a contract in!

Here are some possible solutions to our problem:

1. We as Realtors (R) need to be responsible and not take every listing that comes our way. We need to make sure we screen our potential listing clients to make sure they have the motivation and drive to do what it takes to get it sold.
2. We as Realtors (R) need to educate our sellers about market changes. A subdivision AND area Market Analysis every week or two weeks would definitely not hurt.
3. Investors and Speculators that aren't bleeding bad should consider renting out the homes. We only have 3 months of rental inventory compared to 12 months of resale inventory. Prices for rentals are being driven up.
   
4. Hold off on selling if you really don't have anywhere to go soon or quick. Be patient, wait it out!

All the marketing in the world is NOT going to sell an overpriced house where the sellers really don't have the energy or drive to make it happen. Right now, more than ever, pricing correctly will make it happen!

Just some thoughts from someone who is working in this market and has to look for the needle in the haystack....

My team understands that most people who relocate to Las Vegas each month do not immediately buy a home!

We work hard to place you in that perfect rental that suits your needs ~ whether you have pets, desire a short term rental or a furnished property ~ until you are ready to buy! Single Family Homes, Condominiums & Townhome Rentals are Available Now!

Our rental assistance does not cost you a penny ~ your landlord will pay us a finder's fee!

We specialize in Rhodes Ranch and "at" Rhodes Ranch Southwest Communities.

Renee lives and works in the Rhodes Ranch area.

Renée has watched this area grow from a desert to a thriving community. She is proud to say she has toured every model in the following subdivisions: Sierra Madre @ Rhodes Ranch (where she resides), Venezia, Liberty @ Warm Springs, The Falls @ Rhodes Ranch, Canyon Trails @ Rhodes Ranch, Vistana, Esplanade, Rhodes Ranch, Huntington, Apache Hills & Richmond American @ Rhodes Ranch. Hiring a Realtor who lives in, works in, cares about and KNOWS the neighborhood will give you a distinct advantage over the rest!

For More Information about Southwest Las Vegas Living go to: www.LivingAtRhodesRanch.com

For More Information about Las Vegas Rentals go to: www.LasVegasHomeRentals.info

Contact Renee by either phone or email: 702-580-1783 or Renee@ReneeBurrows.com to get you started on your home rental search today! We get you started by emailing you listings and then when you know you are coming to town, simply make an appointment with us to view the listings you are interested in!

Welcome home to Las Vegas High Rise Living: Soho Lofts!

Soho Lofts are situated just north of the intersection of Las Vegas Boulevard & Charleston. They are in the middle of the "Strip" and Downtown. They are close to the World Market and located near the Newport Lofts.

Lofts and High Rise living are sure to make great Vacation or Second property for the Las Vegas Tourist!

The lofts and condominium units are all built with: Italian Designed Dellacasa Cabinetry, Granite Countertops & Top of the Line Kitchen Appliances.

Community amenities include: Rooftop pool/spa, First Class Exercise Facilities & a Sauna.

If you have any questions about selling, buying or renting in Soho Lofts please contact us: Renee@ReneeBurrows.com or 702-580-1783

1590 Square Foot Loft Located on Las Vegas Blvd right between the strip and downtown!

This Las Vegas High Rise loft is brand new, never lived in!

It features: 1590 Square Feet of Living Space, One Parking Spot in the Garage, Italian Designed Dellacasa Cabinetry, Granite Countertops, Jetted Tub, North View (facing Downtown.)

Community Amenities Include:   Rooftop Swimming Pool & Spa, First Class Exercise Facilities and Sauna.

For more information on these condominiums and to view the virtual tour, flyer and floorplan visit:

www.900SLasVegasBlvd.com

If you would like to view this property:

• If you are already working with a Realtor, please have them call me for viewing instructions.
• If you are not working with a Realtor, please call 702-580-1783 to schedule a viewing with one of my Buyer's Representatives.  You will be required to sign a Buyer's Agency Agreement prior to viewing the property!
  

Fabulous 2 Bedroom, 2 Bathroom, 929 Square Foot located in Vistana Condominiums in Southwest Las Vegas.

This condo is barely lived in and better than new as it was used as a Vacation Property!

Vistana is a guard gated community which offers tennis, 2 pools, spas, a clubhouse with exercise facilities and MORE!

Vistana is walking distance to retail and grocery shopping, restaurants, local gaming and professional offices. St Rose San Martin Campus Hospital is located less than a mile away!

For more information on Vistana Condos visit:

www.Vistana411.com

For more information on this condominium and to view the virtual tour visit:

www.7155SDurango.com

If you would like to view this property:

• If you are already working with a Realtor, please tell them you would like to view ML# 702665
• If you are not working with a Realtor, please call 702-580-1783 to schedule a viewing with one of my Buyer's Representatives. You will be required to sign a Buyer's Agency Agreement prior to viewing the property!

Located close to Nellis, this home is being sold by it's original owner and it is clean and move in condition!

Three sided fireplace to separate living area and dining room.  

Almost every room is wired for surround sound home theater with infrared remote to change all channels at once!

Backyard is perfect for entertaining with lush, mature landscaping, large covered patio, 2 ceiling fans and surround sound!

Minutes to Nellis and not far from Lake Mead National Recreation Area! 

 



For more information and to view the flyer & virtual tour visit:

www.6362RoseTreeLane.info

If you would like to view this property:

• If you are already working with a Realtor, please tell them you would like to view ML# 685224
• If you are not working with a Realtor, please call 702-580-1783 to schedule a viewing with one of my Buyer's Representatives.  You will be required to sign a Buyer's Agency Agreement prior to viewing the property! 

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Schools (1/292007) Zoned are: Sierra Vista High School, Fertitta Middle School (soon to be Faiss) & Wayne Tenaka Elementary school. With extreme growth in the valley schools change quickly and for no rhyme or reason so it is always best to check online for current zoning with Clark County School District.

Amenities include a pool and clubhouse.

They are still in new construction phases Esplanade and prices start in the mid 100's with many floor plans to choose from. We provide free buyer's representation at no cost to you!

View a Virtual Tour for Esplanade!

Esplanade is walking distance from shopping, restaurants and gaming. Esplanade borders the proposed Station Casino and Rhodes Family park. When minutes matter: Esplanade is located less than one mile from St Rose San Martin Campus Hospital.

For More Area Information View:

www.LivingAtRhodesRanch.com

www.Esplanade411.com

Renée has watched this area grow from a desert to a thriving community. She is proud to say she has toured every model in the following subdivisions: Sierra Madre @ Rhodes Ranch (where she resides), Venezia, Liberty @ Warm Springs, The Falls @ Rhodes Ranch, Canyon Trails @ Rhodes Ranch, Vistana, Esplande & Richmond American @ Rhodes Ranch. Hiring a Realtor who lives in, works in, cares about and KNOWS the neighborhood will give you a distinct advantage over the rest.

Do homeowner's associations in Nevada have too much power? Proposed Senate Bill 362 is designed to take some of that power away from them.

Definitely a pressing question! People do buy in homeowner's associations for peace of mind and to help retain their values.

~BUT~The pressing questions remains: Should homeowners be fined for the actions of their guests? Should energy efficient products really require HOA blessings?

I would say the answers depend on the extent: of the guests actions and what type of energy efficient products you are putting in.

According the Las Vegas Review Journal's story a homeowner was fined because their pizza delivery guy was speeding throughout the community. Another homeowner had to paint their solar panels a terra cotta shade ~ which would reduce the effectiveness of the solar panels.

Now those things appear to border along the lines of ridiculous but are they really? When you purchase residential real estate in Nevada you are required to sign a "Certificate of Resale" which states that you have received the following documents:

• Declaration of Restrictions (CCR's)
• Association Bylaws
• Rules & Regulations of the Association
• Statement of monthly assessments for common expenses and any unpaid assessments
• Current Operating Budget
• Current financial statement of the Association, including a summary of the reserves study
• Statement of any unsatisfied judgments and the status of any pending legal action against the Association or relating to the Common Interest Community of which the Seller has actual knowledge.
  

Homeowner's associations SHOULD enforce their rules in a UNIFORM manner but sometimes they DON'T! If you have issues with your HOA make sure you check out the regulations/laws/rules within the Nevada Real Estate Division.

Pet-a-Palooza is an annual Las Vegas event sponsored by Mix 94.1 held at the Sam Boyd stadium side field. It is a gathering of animal related vendors, local meet-ups, animal rescues and more! More = stuff for humans like human food and music. Admission was $5 donated to local animal rescues.

Overdrive, Bowling for Soup and HelloGoodbye were the bands that played yesterday.

My boyz seemed a little overwhelmed by so many people and so many dogs and so many things that they couldn't wait to get out of there ~ even though they are very well socialized and love to be around other doggies!

I cannot venture to guess (as I am not an "official") what the turnout was other than saying it was "in the thousands."

We were only there for a couple of hours because it was too hot for the boyz and they were ready to GO! I think they would have rather been at the doggie park hanging out with their buddies!

The picture at the top is only a partial snapshot of the magnitude of the event. I would call it only about 1/3 of all the vendors that participated.

The picture at the bottom is Overdrive performing on stage!