Chateau Nouveau Condominiums is a gated condo community in Southwest Las Vegas near the corner of Peace & Grand Canyon. Amenities include a BBQ area, swimming pool, spa, exercise facilities (gym) and a clubhouse.
Chateau Nouveau is close (and walking distance) to many amenities - Restaurants, Shopping, Las Vegas Athletic Club (popular acronym LVAC here). It is also close to the 215 freeway entrance at Flamingo or Tropicana ~ which provides excellent proximity to either the Summerlin Area or the south "Las Vegas Strip" employment and entertainment centers + UNLV and McCarran airport.
There are exactly 564 condominium homes in Chateau Nouveau Condos ranging from 770-1482 square feet (most have garages too!). Chateau Nouveau Condos were built in 2003.
Foreclosure/Short Sale Listings (10/15/2009): Total Listings 10371; Short Sales: 4591, 44% of all listings; Bank Owned Listings: 2144, 21% of all listings. Short sale and REO listings consume 65% of total listings
New Home Sales (September 2009, units sold): 422 Year Change -53.4% (excl condo conversions, highrises)
New Home Sales (September 2009, median price): $208,240 Year Change -16.5% (excl condo conversions, highrises)
Existing Home Sales (September 2009, units sold): 4168 Year Change +31.9%
Existing Home Sales (September 2009, median price): $125,250 Year Change: -33.7%
New Home Permits (September 2009): 396 Year Change -14.1%
Rental Rate (MLS Monthly Average August 2009): $1477/month
My analysis: Distressed listings (foreclosures and short sales) are 65% of total listings. Credit markets must be watched as underwriting guidelines continue to tighten. Condos are barely financeable. Resale sold units and pendings remain impressive. Builders cannot compete with bank owned listing prices, thus sales remain lackluster. The rental market is softening due to all the investor/first time buyer combination of activity. This adds more supply and creates less demand.
New Residents/Employment Conditions:
New Residents (September 2009): 4669, Year Change -18.3%
Total Employment (September 2009): 854,300 Year Change -6.2%
Unemployment Rate (September 2009) 13.9%, Year Change +80.5%
My analysis: The tourism, gaming and convention numbers need to improve before these numbers improve. New Resident Count will go down if no new jobs are created. Economists are hoping that City Center brings tens of thousands of new jobs. The Las Vegas Valley has lost -72600 jobs since April 2008, however there were 7400 new jobs reported since last month. I am not optimistic that City Center can pull us out of this slump. (see Tourism/Gaming conditions below!)Unemployment rate is painful.
Tourism/Gaming Conditions:
McCarran Airport Total Passengers (September 2009): 3,336,007 Year Change -3.5%
Gaming Revenue (August 2009): $708,130,123, Year Change -6.7%
Visitor Volume (August 2009): 3,402,171, Year Change -5.3%
Convention Attendance (August 2009): 235,841, Year Change -58.9% (OUCH!, proving my point from what I am saying the last year!)
Hotel/Motel Occupancy (August 2009): 81.4% Year Change -7.8%
My analysis: There is marked improvement in this sector from last month (major exception is convention business.) This sector (tourism) needs to see some serious price corrections before we see a comeback. Corporate credit is not coming back any time soon. It will be hard to get convention attendance back up without corporate credit. Glad to see regular tourists are making their way here with the imbalance of the other numbers to replace the convention attendee numbers. Gaming and convention business is big business and those numbers MUST increase for jobs to increase and for our entire economy to stabilize. Any convention attendance decrease of over 10% is extremely painful to this economy and all the overbuilt convention space.
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. Information deemed reliable but not guaranteed. My analysis is my humble opinion
Maravilla at Mountains Edge is a subdivision in the growing Master Planned Community of Mountain's Edge tucked near the mountains in Southwest Las Vegas near the corner of Durango & Pyle.
Miravilla at Mountain's Edge is built by Amstar homes starting in 2006 and they are still building!! Feel free to call or email for current prices or for your free list of current homes for sale (new construction or resale!)
The home style is hard for me to describe as I believe it is a style in the Eastern end of the US. Alleys provide access to your garages so the front of the homes have outline character and detail without the unsightly view of a garage. All front yards are required to have desert landscaping (no grass). Most of the private yards (not all) are courtyard or patio style so these homes may be a perfect fit for someone who is looking for a detached home without all the high maintenance of a large yard.
There are currently 417 single family detached homes in Miravilla at Mountain's Edge ranging from 1480-2471 square feet.
Yellowstone at Mountains Edge is a master planned community tucked near the mountains in Southwest Las Vegas near the corner of Mountain's Edge Parkway & Quarterhorse. Several subdivisions within the master plan are gated.
Master Plan Community Amenities include a swimming pool, spa, exercise facilities (gym), basketball court, playground and a clubhouse.
Yellowstone at Mountain's Edge is built by Meritage homes starting in 2005 and they are still building. Feel free to call or email for current prices or for your free list of current homes for sale (new construction or resale!)
There are exactly 725 single family detached homes in Yellowstone at Mountain's Edge ranging from 1256-3482 square feet.
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.
Rancho Viejo Condominiums is a gated community in Southwest Las Vegas near the corner of Buffalo & Flamingo. It is a community of condominiums. Amenities include a swimming pool, spa, exercise facilities (gym) and a clubhouse.
Rancho Viejo is close (and walking distance) to many amenities - Restaurants, Spring Valley Community park, Local Gaming, Restaurants and Professional offices.
It is a quick drive down Flamingo to get to the center Las Vegas Strip + Palms and the Rio ~ where you can enjoy world class entertainment, restaurants & shopping.
There are exactly 312 condominium homes in Rancho Viejo ranging from 660-1134 square feet. Rancho Viejo Condos were built in 1997 as apartment homes and converted to condominiums in 2004.
Age Restricted (55+) Communities are scattered throughout the valley. Many offer a variety community amenities for Seniors who enjoy active lifestyles.
Sun City Aliante is located in the Aliante Area of North Las Vegas, NV (zip 89084). There are 1829 homes in Sun City Aliante ranging from 1157-2104 Square Feet. Community Amenities Include: Community Golf, Clubhouse, Gym, Pool, Spa, Tennis, Recroom.
Sun City Aliante Market Report:
Listings (10/15/2009): 36
Under Contract (10/15/2009): 32
Sold September 2009: 8
Absorption Rate: 4.5 Months of Inventory
Sun City Aliante is currently enjoying a seller's market.
Renee Burrows carries the SRES (Senior Real Estate Specialist) Designation and has Probate and Estate experience. If you need a referral to a Probate or Estate lawyer, please contact me!
Seniors Real Estate Specialists® are REALTORS® qualified to address the needs of home buyers and sellers age 50+. The SRES® Council awards the SRES® Designation to those members who have successfully completed its education program.
By earning the SRES® designation, your REALTOR® has demonstrated necessary knowledge and expertise to counsel clients age 50-plus through major financial and lifestyle transitions involved in relocating, refinancing, or selling the family home. Your REALTOR® has received special training, gets regular updates, and is prepared to offer the options and information needed in making life changing decisions.
Renters are becoming buyers finally as resale purchase prices drop and economic conditions in the valley are preventing high numbers of new incoming residents to move here. This has softened rental prices slightly as many investors are buying all cash in the market currently and then renting. More homes available for rent (higher supply) and less renters (lower demand.)
Units Leased:
September 2009: 1849
August 2009: 2011
July 2009: 2029
June 2009: 1853
May 2009: 1760
April 2009: 1677
March 2009: 1825
February 2009: 1702
January 2009: 1651
December 2008: 1390
November 2008: 1405
October 2008: 1707
September 2008: 1531
Average Monthly Rental Rates:
September 2009: $1477
August 2009: $1255
July 2009: $1405
June 2009: $1299
May 2009: $1348
April 2009: $1348
March 2009: $1365
February 2009: $1419
January 2009: $2083
December 2008: $1594
November 2008: $1506
October 2008: $1393
September 2008: $1610
Median Monthly Rental Rates:
September 2009: $1150
August 2009: $1150
July 2009: $1195
June 2009: $1195
May 2009: $1200
April 2009: $1200
March 2009: $1200
February 2009: $1200
January 2009: $1200
December 2008: No Data
November 2008: $1250
October 2008: $1245
September 2008: $1250
Absorption Rate has moved upwards a little from last month and remains a Landlord's Market at 2.8 months of inventory in the Rental Sector for the Las Vegas Valley.
If you own a home that needs to be rented out and would like to have a full time, licensed and permitted property manager contact you please fill out this form or call 702-966-2494 and press option 0
Age Restricted (55+) Communities are scattered throughout the valley. Many offer a variety community amenities for Seniors who enjoy active lifestyles.
Sun City MacDonald Ranch is located in the Green Valley Area of Henderson, NV (zip 89012). There are 893 Homes in Sun City MacDonald Ranch ranging from 1020-2489 Square Feet. Community Amenities Include: Clubhouse, Community Golf, Gym, Pool, Spa, Tennis
Sun City MacDonald Ranch Market Report:
Listings (10/15/2009): 16
Under Contract (10/15/2009): 5
Sold September 2009: 3
Absorption Rate: 5.3 Months of Inventory
Sun City MacDonald Ranch is currently enjoying a stable market.
Renee Burrows carries the SRES (Senior Real Estate Specialist) Designation and has Probate and Estate experience. If you need a referral to a Probate or Estate lawyer, please contact me!
Seniors Real Estate Specialists® are REALTORS® qualified to address the needs of home buyers and sellers age 50+. The SRES® Council awards the SRES® Designation to those members who have successfully completed its education program.
By earning the SRES® designation, your REALTOR® has demonstrated necessary knowledge and expertise to counsel clients age 50-plus through major financial and lifestyle transitions involved in relocating, refinancing, or selling the family home. Your REALTOR® has received special training, gets regular updates, and is prepared to offer the options and information needed in making life changing decisions.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
Rate (September 2009) 13.9%, Year Change +80.5% 
Renee Burrows carries the SRES (Senior Real Estate Specialist) Designation and has Probate and Estate experience. If you need a referral to a Probate or Estate lawyer, please contact me!
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