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 If you have been looking for a taste of luxury, hurry down to view the new models at The Modern, which should be completed by the end of January! The Las Vegas real estate market is coming to life again with The Modern, the first new Las Vegas luxury condo project to open during the past few years, was developed as a totally unique luxury loft lifestyle focusing on the essentials of what optimized living should be.
The remarkable luxury loft homes of The Modern combine a respect for the light, the color palate, and the natural environment with state-of-the-art technology and a true understanding of how people relate to space. The architecture provides progressive soaring private spaces to call home in the context of a neighborhood social community with courtyards, common areas, spa and pool, and interconnected pathways all complimented by the very finest in amenities and services.
The Modern features five distinct open floor plans with a choice of one, two or three bedroom residences ranging in size from 1138 sf. to 2244 sf. (There are only 83 residences at The Modern, and some floor plans will be in limited supply.) They won't be going to contract until early February with a projected April move-in, but they are now accepting fully refundable advance reservations.
The Modern is located close to the popular master planned community of Summerlin and the Red Rock Conservation area, but just east of the 215 Beltway for easy access to the entire valley. Residence amenities include:
- Exquisitely Upgraded Design features
- European Style Cabinetry
- Travertine & Solid Surface Countertops
- High Ceilings Approx 10 to 21 feet
- Private terraces
Development Amenities include:
- Resort Style Pool & Spa with Cabanas
- Private Two Story Fitness Facility
- Dry Sauna & Steam Room
- Rooftop Sundeck with Wet Bar, BBQ’s & Cabana
- Fire Pits & Water Features
- Pet Parks
- Gated Community
- Subterranean Parking Spaces
To obtain floor plans and pricing or to schedule an appointment to tour the project, call us at 702-985-7654 or email sold@greatlasvegashomes.com.
The pricing on Las Vegas new homes has been drastically reduced over the past few years (along with the rest of the inventory in the Las Vegas real estate market), and it is amazing how affordable some of the luxury new home developments have become. Dunhill Homes has two gorgeous neighborhoods in lush guard gated golf course communities, Tuscany Village and Rhodes Ranch, which are offering some surprising values.
Rhodes Ranch is located in the popular southwest area of Las Vegas near Summerlin. One and two story floor plans in this community range from 1532 sf to over 3600 sf, and are priced from $185k to $329k. The Rhodes Ranch community offers residents a 35,000 square foot recreation center with fitness facility and resort style pools, a Fun Zone Water Park for the kids, an award-winning golf course, and miles of walking trails. The Rhodes Ranch Golf Club, a par 72 championship course named a “Best Value” by Vegas Golfer Magazine, was designed by renowned architect Ted Robinson. Standard features include: Energy Star Certification, granite slab countertops, rich beechwood cabinetry, Whirlpool appliance package, front yard landscaping and paver walks and driveway.
Tuscany Village is located in the southeast area of the Las Vegas Valley, adjacent to the world-renowned Lake Las Vegas master planned community. One and two story floor plans in this community range from 1364 sf to over 2600 sf, and are priced from $130k to $260k. Residents can play the Tuscany Championship Golf Course, work out at the 35,000 sf recreation center with fitness center and resort style pools, or walk for miles among open trails, crystal clear lakes and palm trees. Standard features at Tuscany Village include: Energy Star Certification, granite slab countertops, rich beechwood cabinetry, Whirlpool appliance package, front yard landscaping and paver walks and driveway.
Both communities have standing inventory, or you can pick your own lot and floor plan and have a home built exactly the way you want it from the ground up. And in addition to the low pricing, Dunhill is currently offering buyers between $10k to 20k in incentives that can be used towards closing costs or design upgrades.
Email us now at sold@greatlasvegashomes.com to get floor plans and the latest pricing and buyer incentives for either of these two great communities!
Didn’t think you could afford Las Vegas real estate? Now you can own a condo right on Las Vegas Boulevard for only $125k!
Sneak preview - own your piece of the fabulous Las Vegas Strip for a fraction of the usual cost. Located right between the between the beautiful Bellagio and the vibrant MGM City Center in the heart of all the action, this rare Jockey Club condo is just right for the perfect vacation getaway.
Just listed - lovely 9th floor unit with one bedroom one bath unit and full kitchen is fully furnished with everything you need in a holiday home. As an owner, you can take advantage of the Jockey Club’s fitness center, pool, sauna or business center, and then stroll casually out the front door to the finest restaurants, shops and shows in the city.
Want to know how great of a deal this is for Strip front property? Next door the MGM City Center condos start at $400k plus. The Jockey Club was actually built as a timeshare project, but a few of the units are privately owned, and this is one of them. They don’t often come on the market, and this will truly go fast once the photos and description are posted in our MLS.
So call us fast at 702-985-7654 – first come, first served!
For the past three years clients have been telling us they want a “steal of a deal” on Las Vegas real estate. So how come most of them stop looking in December? All month long, December is the Black Friday of real estate!
Savvy shoppers know that December is the best time of the year to buy property for a number of reasons. And that has never been more true of homes for sale in Las Vegas at the end of 2011 with interest rates and prices at an all time low already.
1. Motivated sellers! Many sellers will take their home off the market until after the holidays. This indicates a seller who is less motivated to sell. A seller who keeps their home on the market and easily available for showings wants to make that deal.
2. More negotiating room! Banks and other companies holding Las Vegas foreclosures want to clear their books so their year- end bottom line looks better to stockholders.
3. Less competition! There is less competition from other buyers who are distracted with holiday shopping and company parties. Or they may be waiting for more inventory to come on the market with the New Year. Yes, there will definitely be more listings after the first of the year, but again, these are likely sellers who are not as motivated to sell and may have until late spring or early summer to move.
4. Undivided attention! Real estate agents are less busy during December and have more time to hunt down that really special deal on your behalf. Listing agents are more willing to present lower offers to their sellers. Real estate agents may literally become your best friends during these slow months as they try to keep their sales moving.
5. Easier financing! Federal regulators have been threatening to tighten up mortgage guidelines yet again in 2012, and may also raise the amount of down payment required for FHA buyers. Not to mention that interest rates may also rise. A small percentage of increase in the interest rate means less buying power.
So this holiday season you have a choice: plan for the holidays, or take advantage of real estate’s annual Black Friday deals and plan for your future.
'Where in Canada can you buy a $50,000 property and rent it for $1,000 a month?' was the lead-in for an article on the Las Vegas real estate market in the Montreal Gazette this past Friday. The article implied that paying $50k for a property and being able to lease it out at $1k per month was easy in Las Vegas and other distressed US markets.
If so, I would sure like to know where these properties are! I can’t seem to find any listed in our local Las Vegas MLS system. I would be more than happy to buy at least 10 of them this week myself. Already our phones are ringing off the hook from Canadian buyers who saw the article and don’t believe us when we tell them it was all hype. They think we are “hiding” the listings from them! (I have yet to see a real estate agent that can afford to “hide” listings and stay in business.)
Unfortunately, many buyers read these press reports and make poor buying decisions because of them.Where does the press come up with these statistics?? They seem to have little or no basis in fact. (Another recent news article said that the Las Vegas real estate market was going to go down another 10% to 12%. Again, this was reported with no supporting documentation, just a gobbled gook of random statistics that had no bearing on what was reported.) But because of articles like these, we have to spend a lot of time re-educating buyers on fact vs. fiction and what is actually possible.
Sure, we absolutely have low cost homes for sale in Vegas. But they are in neighborhoods where the purchase price reflects the potential rental income as well. (And Buyers, please check those Metro crime statistics before making a purchase.) True, many of the short sale properties are listed way below market just to get someone to put in an offer. But the banks always do their own appraisal before approving a short sale, and will usually counter with a price that is within 5% of the actual market value.
That is not to say that you can’t get a terrific return on Las Vegas investment properties. It is absolutely possible to buy a cute newer home for around $100k and get $1k or more per month rental income. This is actually a great time to buy, as the latest statistics are finally showing a small upward trend in Las Vegas sales prices (see Las Vegas real estate weekly trends) and inventory has come down to a five year low. Just between October 1st and November 1st single family home inventory went from 11,500 active listings down to 10,500 active listings. (For homes under $200k we are once again experiencing multiple offer situations because investors and second home buyers from all over the world are trying to take advantage of the low cost to own.)
Not to mention, prices have dropped substantially, 50% to 60%, from just a few years ago. With the strength of the Canadian dollar vs. the US dollar, it makes all the sense in the world for Canadians to finally buy that snowbird property in the States. And the Australian buyers are also taking advantage of the favorable foreign exchange rates to purchase second homes and investment property in Las Vegas.
But someone somewhere has got to finally hold the press accountable for what they print. They aren’t doing anyone any favors by not checking the facts first. The client that buys that $50k property and expects to get $1k per month in rent is going to be sadly disappointed. The client that didn’t buy because he/she read that property prices were going to decline further is going to be really upset when they come back six months later and find that the home they wanted is even more expensive.
October 31, 2011 - Want to know where the Las Vegas Real Estate Market is headed? Here are your weekly market statistics from Prudential Americana Group, REALTORS®.
•Your Market Report for Single Family homes in Las Vegas. Homes in Las Vegas.
• Your Market Report for Condos in Las Vegas. Condos in Las Vegas.
•Your Market Report for Single Family homes in Henderson. Homes in Henderson.
•Your Market Report for Condos in Henderson. Condos in Henderson.
•Your Market Report for Single Family homes in North Las Vegas. Homes in North Las Vegas.
•Your Market Report for Condos in North Las Vegas. Condos in North Las Vegas.
While exact details have not yet been announced, it seems that help for some Las Vegas homeowners may be on the way as early as November 15th. Homeowners that have a mortgage loan guaranteed by either Freddie Mac or Fannie Mae may be able to refinance soon, even though they are underwater.
The Las Vegas real estate market was one of the hardest hit when the real estate bubble burst. Yet many Las Vegas homeowners have honored their commitment to lenders by not walking away from their homes and keeping their loans current, even though all around them they saw their neighbors bailing out. Some of those homeowners are about to reap the reward for meeting their obligations if the new plan announced by the White House comes through in November.
Homeowners with Las Vegas mortgage loans that were purchased or guaranteed by Fannie Mae or Freddie Mac on or before May 31, 2009 and have a current loan to value (LTV) of over 80% are eligible. The loan MUST be current with no late payments in the last six months and no more than one late in the last 12 months. There will be no ceiling on the loan to value and possibly an appraisal will not even be needed.
The first step is to determine if your home loan qualifies. Go to either: www.fanniemae.com/loanlookup or www.freddiemac.com/corporate to see if your loan is listed by either Fannie Mae or Freddie Mac.
Even a small decrease in the rate should give homeowners a significant monthly payment reduction. A $200k mortgage loan refinanced from 6% to 4.5% would result in almost a $200 monthly saving. And it may be that under the new guidelines the costs to refinance the loan can be rolled into the mortgage amount so that there is no out of pocket expense.
If your loan is listed and you have been current on your mortgage payments, the next step would be to contact a lender that will be participating in the new refinance program. That way as soon as the exact details are released, you will be notified of the terms and rates. We do have a list of lenders that will be participating in the refinance program, so please feel free to contact us at sold@greatlasvegashomes.com and put “Fannie Mae/Freddie Mac refinance program” in the subject line. We will then forward your contact information on to a participating lender so you can be first in line for the new program.
Then stay tuned for the rest of the details as they are released!
October 24, 2011 - Want to know where the Las Vegas Real Estate Market is headed? Here are your weekly market statistics from Prudential Americana Group, REALTORS®.
Like the mythical Phoenix, Lake Las Vegas is rising from the ashes of the real estate melt down. Still the most unique and beautiful of any of the Las Vegas master planned communities, Lake Las Vegas stands like a Tuscan mirage in the middle of the desert, and once again new home builders are taking the plunge to put it back on the map as one of the most desirable projects in the country.
Set on 320 lush acres with its own private lake, three hotels, a casino, the Lake Las Vegas Marina and home to the prestigious South Shore Golf Club, Lake Las Vegas is an elegant European themed resort destination with 1400 luxury homes and condos surrounding the Montelago Village, a boutique collection of shops and restaurants. Each year over 20 events are featured in the community with wine walks, Shakespeare in the Park, beer fests, dragon boat festivals and more.
Like the rest of the city, Lake Las Vegas was hit hard by the real estate crash. Several of the surrounding golf courses closed, the Ritz Carlton shut its doors and even the casino went dark. But over the past few months, a renaissance has arrived along with international buyers looking for second homes. The “buzz” is back. The Ritz Carlton became the Ravella, the Montelago Casino opened, and The Golf Club at South Shore is offering incredible membership options to homeowners.
Harmony Homes and Woodside Homes are on the band wagon and offering some amazing incentives for Las Vegas home buyers. Harmony Homes has two lovely developments in Lake Las Vegas, and through the end of December is offering to pay two full years of homeowner’s association dues for all buyers that go into contract before December 31st in addition to some upgrade incentives. Homes sizes run from 2300 sf to over 4600 sf starting in the low $300s. Woodside Homes, starting in the low $200s, has standing inventory from 1779 sf to 2361 sf with golf course lot premiums included in the base price. In addition, Toll Brothers is closing out the last few units in their exclusive townhome development with lake and golf course frontage from 1600 sf to 2181 sf.
So if you’d like to be neighbors with Celine Dion, now is the time to take a look at fabulous Lake Las Vegas and take advantage of the great home prices and discounted golf and marina memberships. There are even some great foreclosures in Lake Las Vegas too. You only live once - and what a way to live!
Christmas is coming early to residents of Las Vegas, Henderson, and North Las Vegas this year. Get in on a special Las Vegas HUD auction - only $100 total down payment for owner occupants! This is a spectacular opportunity to buy a Las Vegas real estate with a very nominal investment.
Hudson and Marshall will be conducting two auctions of over 100 HUD properties around the Las Vegas Valley on Saturday November 5th, 2011 at the JW Marriott. Registration for Auction 1 will open at 9 am. Auction 1, starting at 11 am, is open to owner/occupants ONLY. Successful owner occupant bidders will be eligible for special FHA financing with only $100 total down payment (instead of the typical 3.5% down payment). Plus they can ask the seller to pay 3% in closing costs.
Registration for Auction 2 will open at 2pm. Auction 2, starting at 3 pm, will be open to both investors and owner occupants, but investors will not be eligible for special financing.
Open houses of all auction properties will be held prior to the auction sale date. Open house dates are October 22, 23, 29 and 30th from 11 am to 3 pm. They may also be viewed on other days by special appointment with your Las Vegas real estate agent.
Members of the Tonnesen Team are registered buyer’s representatives with Hudson and Marshall. We will walk you through the auction process, provide sales history and comparable sales for any properties you are interested in bidding on, get you totally pre-approved with a lender, and accompany you to the auction. To receive a complete list of the properties being offered for sale, please email us at: sold@greatlasvegashomes.com and put “Hudson and Marshall Auction” in the subject line.
In order to register of Auction 1 or Auction 2, each bidder will be required to submit a prequalification letter or a certification of cash funds which must include:
1. Bidder’s name(s)
2. Amount of prequalification and type of financing (FHA, conventional, etc.) or total amount of cash funds available
3. Verification of income (for financed purchases only)
4. Verification of credit check (for financed purchases only)
5. Bank or lender’s letterhead and contact information
Bidders registering as owner occupants will also be required to certify that they have not purchased a HUD-owned property within the past 24 months, and that they will occupy the property as their primary residence for at least 12 months after the closing. Other registration requirements must include presentation of a valid photo ID as well as a $500 cashier’s check or money order payable to HUD. (For buyers taking advantage of the $100 down payment FHA financing, the balance would be refunded at close of escrow.) The check is not collected unless you are the highest bidder on the property.
Please note that Las Vegas auction properties are sold “as is where is.” You must view the property prior to the auction date to determine its condition, as the sellers will not make any repairs and sales are NOT contingent on inspections or obtaining financing. You are agreeing to close on the property when you successfully bid on it. If you are not certain you want the property or that you can obtain financing, do not bid! The $500 earnest deposit is non-refundable should you not close as agreed in the sales contract.
**All Las Vegas foreclosures offered in the auction will have a reserve. This means the seller must approve the high bid, and the seller has the right to accept, reject or counter the highest bid on a property.
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Diann Tonnesen
Las Vegas,
NV
More about me…
Prudential Americana Group Realtors
Address: 871 Coronado Center Drive Ste 100, Henderson, NV, 89052
Office Phone: (702) 315-7844
Cell Phone: (702) 985-7654
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