Green Valley Ranch is one of the finest master-planned communities in the Greater Las Vegas area. Because it was well established before the "boom" period, it hasn't had the level of foreclosures. The property values are holding up well. Buyers who are looking for a one-story home are going to be surprised that the market value is around $123 a foot. The rest of Henderson is around $90 a foot. The discrepancy reflects the lack of foreclosures, as well as the general beauty, ambiance and convenience of Green Valley Ranch.
If you're looking to buy a home in Green Valley Ranch, be prepared to pay list price. If there are multiple offers (which there usually are), be prepared to go above list price. Keep a close eye on what has closed and what the sale prices were. Sellers are looking at the statistics and they know what their homes are worth. Other buyers are studying the sales and they know what they have to bid to get a house.
Don't believe the media if it says this is a buyer's market. As always, it is a balanced market. Supply and demand determine sale price. If a buyer thinks he's the only one out there looking and he's going to get a steal of a deal, he is mistaken. The sales statistics show the clear picture, so study the statistics.
Rumor has it that Bank of America is going to be releasing 500 homes a month in the Vegas market. So what? We've been selling more than that each and every month for years. In a city of almost two million, 500 is a drop in the bucket. Don't let the media frighten you, and don't let them force you into buying or not buying. Do your research. Let your realtor do the research and explain it to you. Then you can make an informed decision, not a wishful-thinking or rush-ful thinking decision.
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