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

This Rhodes Ranch Area market report was generated on May 20, 2007:

Active Listings, Under Contract, Sold and Rental Reports for the "at" Rhodes Ranch Area!  
Includes:  Apache Hills, Apache Springs (The Falls), Astoria Homes at Rhodes Ranch
(Independence), Canyon Trail, Huntington, Liberty @ Warm Springs, Maplewood, Rhodes
Ranch, Richmond@ Rhodes Ranch, Sierra Madre, Venezia, Vistana.

PDF Reports are easy to read and are divided by subdivision but it is not clearly marked.  
Notepad Reports are harder to read but the subdivisions are clearly marked.  Statuses are
as followed:  EA/ER = ACTIVE LISTINGS, C/P = UNDER CONTRACT, S = SOLD     

Active/Under Contract/Sold PDF Report.

Rental PDF Report

For More information on the Rhodes Ranch Area:  www.LivingAtRhodesRanch.com 

For Subdivision Virtual Tours/Floor Plans and Information:

Canyon Trail

Sierra Madre

Apache Springs "The Falls"

Vistana

Esplanade

Independence

Rhodes Ranch 

When looking to buy, sell or rent in the Rhodes Ranch Area, make sure you work with the Las Vegas Realtor who knows, lives in and works in the area!

It is officially pool season in the Las Vegas Valley!

Here are some green awareness tips to keep your swimming pool clean and save you some green!

1. Use a solar cover to keep water from evaporating and to keep it toasty warm at the same time. Rooftop solar heaters require you to circulate your pool constantly during daylight hours while solar covers do not require so much electricity. The pros are: saving electricity and water. Southern Nevada Water Authority offers instant rebates on solar covers for your pool. Check to see if you are eligible. The cons are: ugliness and time consuming to add and remove the cover.
2. Cut down on water circulation. Pool filters cost just as much to run as air conditioners do! One way to cut down on circulation and still keep your pool clean is to divide your circulation time into several timed increments. Install a timer box and use the simple screw on timers to set the times you wish to circulate your pool. Make sure you always hook up your vacuum when you circulate so you can suck out the algae and debris out of the porous material.
3. Keep your chemicals balanced. The warmer your pool is, the more chemicals you will burn! Keep your pool temperature as cool as tolerable. The sun also burns chemicals so keeping a solar cover on during part of the day will help! Leslie's Swimming Pool Supplies will test your pool water for free and give you advice on what chemicals you need to add if you know how many gallons your pool is.
4. Consider switching to a salt water system and using alternative cleaners. Baking soda is a natural pool "chemical" that purifies the water, makes the water soft & clear and helps cut down on acidity. Make sure you don't use too much otherwise the chemicals will become unbalanced.

Leslie's Swimming Pool Supplies offers some other great tips:

• Pool Cleaning
  
• Pool Equipment
• Pool Basics
• Pool Safety
• Water Balance

All the Best,

Economic Conditions April 2007

Housing Conditions:

• Foreclosure/Short Sale Listings (5/23/2007):  Total Listings (5/23/3007)  24,996; Foreclosures Commenced: 911, 3.6% of all listings; Short Sales: 1353, 5.4% of all listings; Both Foreclosures Commenced AND Short Sales: 284, 1.1% of all listings.
• New Home Sales (April 2007, units sold):  1,162  Year Change -46.9% (excl condo conversions, highrises)
• New Home Sales (April 2007, median price):  $313,000  Year Change -10.7% (excl condo conversions, highrises)
• Existing Home Sales (April 2007, units sold):  2353 Year Change -36.6%
• Existing Home Sales (April 2007, median price):  $285,000 Year Change:  .5%
• Single Family Residential Permits (April 2007):  1587  Year Change -22.9%
• Rental Rate (MLS Monthly Average April 2007): $1537/month Month Change +$84/month

My analysis:  The rental market has been consistenly rising since November 2006.  Monthly rents are up an average of $274/month since January 2007.  

New Residents/Employment Conditions:

• New Residents (April 2007):  6,195, Year Change -8.7%
• Total Employment (March 2007):  940,100, Year Change +3.3%
• Unemployment Rate (March 2007)  4.2%, Year Change +13.5%

My analysis:  We need more jobs to continue strong growth.  Our employment rate is up from a year ago but has dropped considerably in the last couple of months!

Tourism/Gaming Conditions:

• McCarran Airport Total Passengers (March 2007):  4,175,282 Year Change +3.3%
• Gaming Revenue (March 2007):  $889,674,013, Year Change -2.1%
• Visitor Volume (March 2007):  3,915,401, Year Change +0.5%
• Convention Attendance (March2007):  682,824, Year Change +4.5%
• Hotel/Motel Occupancy (March 2007):  93.9%  Year Change -0.2%

My analysis:  The gaming/tourism industry is still strong. Gaming revenue/Occupancy is not in sync with Airport Passenters/Visitor Voume and Convention Attendance!

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

Las Vegas Valley Rental Prices saw another serious upward tick in April ~ Monthly Rents are up $84 since March.  Average Monthly Rents are up $274 since January 1, 2007.  Average Monthly Rents were $1453/month in March and in April they were $1537/month.

Median Rent prices rose $95 from $1200/month to $1295/month in April.

This could just be a seasonal adjustment for pool homes that are in high demand this time of year but the spike is more consistent and starts earlier than previous years.  Unusual for a cool spring.

Other factors may include:  Displaced families from foreclosed homes, buyers waiting out the market to see if it will get "better", the steady inflow of 6000+ new residents per month.

If this trend continues over the next several months along with disappearing new construction standing inventory & low interest rates we could see a shift in the resale market earlier than expected.  

The disparity gap between rental prices and a mortgage payment is narrowing ~ very quick!

View Map (Satellite Hybrid)

Rhodes Ranch is bordered by the North/South Streets of Durango & Fort Apache and East/West Streets of Just South of Warm Springs & Just North of Wigwam.

Community Amenities Galore make your HOA fee a bargain!   Discounted golf, a water park, racquetball, basketball, volleyball just to name a few.

Rhodes Ranch is still building new construction! Buyer's Representation is at no cost to you, so call today to get started with your search.  

Market Information and Rentals are posted here weekly! 

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

Rhodes Ranch is close to shopping, restaurants, professional offices, a new medical corridor and local gaming.  When minutes matter: Rhodes Ranch is conveniently located close to two major hospitals.

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, Independence Astoria, Huntington, & Richmond American @ Rhodes Ranch. Hiring a Las Vegas Realtor who lives in, works in, cares about and KNOWS the neighborhood will give you a distinct advantage over the rest.

Please visit:  www.LivingAtRhodesRanch.com for more information & market reports!

The much anticipated Fun Zone Water Park built for Rhodes Ranch residents will Open May 28 at 10:00 AM! 

The water park will feature 

• 13,000-square-foot lagoon pool with wading areas
• a 25-meter lap pool
• two eight-person spas
• 12-person group spa
• four large covered cabanas
• two sand volleyball courts
• children's play area with activity structures

For More Information on Rhodes Ranch Real Estate (New Construction/Rentals/Resales) contact Renee Burrows at:  702-580-1783.

www.LivingAtRhodesRanch.com 

This Rhodes Ranch Area market report was generated on May 20, 2007:

Active Listings, Under Contract, Sold and Rental Reports for the "at" Rhodes Ranch Area!  
Includes:  Apache Hills, Apache Springs (The Falls), Astoria Homes at Rhodes Ranch
(Independence), Canyon Trail, Huntington, Liberty @ Warm Springs, Maplewood, Rhodes
Ranch, Richmond@ Rhodes Ranch, Sierra Madre, Venezia, Vistana.

PDF Reports are easy to read and are divided by subdivision but it is not clearly marked.  
Notepad Reports are harder to read but the subdivisions are clearly marked.  Statuses are
as followed:  EA/ER = ACTIVE LISTINGS, C/P = UNDER CONTRACT, S = SOLD     

Active/Under Contract/Sold PDF Report.

Rental PDF Report

To View Notepad Reports 

For More information on the Rhodes Ranch Area:  www.LivingAtRhodesRanch.com 

For Subdivision Virtual Tours/Floor Plans and Information:

Canyon Trail

Sierra Madre

Apache Springs "The Falls"

Vistana

Esplanade

Independence "Astoria at Rhodes Ranch"

When looking to buy, sell or rent in the Rhodes Ranch Area, make sure you work with the Las Vegas Realtor who knows, lives in and works in the area! 

Super Open House Event!

Four Homes to choose from with price ranges from $175,000-699,000 ~ all over the valley ~ Henderson, North Las Vegas, East Las Vegas, Southwest Las Vegas! 

Register to win prizes that include:

• 4 Thunder From Down Under Tickets
• A Home Teeth Bleaching Kit
  
• A $50 Gas Card

A little something for everyone:  Participating Storage One facilities all over the valley are including a coupon for 25% off your first three months storage ~ no contracts!!!!!!!

For more information on the homes and rules for the drawing go to:  www.SuperOpenHouse.com