Las Vegas Real Estate

Las Vegas Real Estate

The Las Vegas real estate market has been all the buzz in local, national, and global real estate news. Home buyers, home sellers, home owners, investors, and analysts watch its trends and successes as Las Vegas property grows in value. During this decade, through 2015, real estate analysts as well as experts from other industries predict there will be tremendous growth in Southern Nevada, expecting a 50% population growth in Las Vegas alone, which could drive more than a 200% increase in the value of many homes and other properties in the valley. Housing properties have jumped in value in the past 5 years and many home owners have seen incredible gains in their equity. Land in Las Vegas has continued to climb in value and price.

Las Vegas Luxury Living Communities

Amazing luxury communities have become available in Las Vegas. Home buyers have various types of high-end housing to choose from. Large, well-designed homes offer many rooms with many functions. Exquisite flooring, lighting, technology, and design set many of these homes apart as unique residences. Some homes feature large waterfalls, entertainment rooms, exercise facilities, large garages and work spaces, formal dining and living areas, huge backyards with swimming pools and wet bars, pristine landscaping, substantial acreage, wine cellars and rooms, technology rooms, movie theaters, streams, indoor pools, putting greens, and much more.

Las Vegas Pre-Construction Condos

With such an amazing list of amenities in the city, Vegas has become one of the county's leaders in new loft style living and distinct condo development. Pre-construction condos are usually cheaper to purchase then after their completion. Also, many of them are available designer ready. This gives the buyer the option of designing the interior of the condo to their tastes and style.

High Demand Property In Las Vegas

The following are the most desirable and sought after properties in Las Vegas

Southeast Henderson

The city of Henderson Nevada features some of the best views of the strip, Black Mountain and the entire valley, making it one of the most desirable areas to live.
Henderson also touts the exclusive Lake Las Vegas Resort, famous for celebrity sightings, golf, ice skating, high end retail and amazing restaurants and hotels. Luxury Lake Las Vegas real estate starts in the $600,000’s.

There are also fantastic communities which are quite secure and friendly. Prices start in the $400,000's.

While Henderson, Nevada provides many luxury real estate choices, it also offers countless affordable housing options mostly located in the old Henderson area, with homes commonly passed down through generations of families. Homes typically range from 1000 to 2500 square feet and values start in $200,000’s

Green Valley Property
Homes are generally mid-way up the price range, affordable to many, and in a wide variety of modern luxury styles.  Most of the residential property is no more than a couple blocks away vast acres of manicured green space and scenic golf courses offering year round play.

Anthem Property
Anthem is comprised of three Del Webb planned communities, each offering unique home styles and amenities: The community of Anthem Coventry includes approximately 1200 single family homes at affordable mid-range prices. Sun City Anthem is a retirement community, with options for all those in search of a comfortable and safe place to retire.  Moderate homes are priced in the $400,000's and luxury properties are priced in the millions. Custom luxury homes easily can sell for upwards of $3 million.
 

South Las Vegas

The South Strip Property
Many of the land owners in this area are in the process of getting approvals for development.  Plans are being made for several hotel, condo, and casino projects along the South Strip.
Condominiums start in the high $200,000’s and easily reach the millions. If equity appreciation is an important component in your real estate purchase, the South Strip is the best bet in town. Today, housing in this area is still affordable with an appreciation rate of 15-21% last year. Once major development is underway or complete, there is sure to be a strong demand to live on the South Strip and the prices will reflect it.

Northwest Las Vegas

Desert Shores Property
Community of Desert Shores includes approximately 3,300 homes on 700 acres of land. Homes consist mainly of single family residences, although there is a limited selection of town homes in the gated section of Desert Shores Racquet Club. Prices in this highly livable community are surprisingly affordable, but many higher end properties are also available.

Painted Desert Property
Choices in Painted Desert real estate include villas, condos, and single family homes, with prices starting at about 200,000 for condos.

West Las Vegas

Summerlin Property
That raw desert land is now home to over 100,000 residents and is renowned as one of the greatest Master Planned Communities in the United States. Houses in Summerlin typically start in the $400,000's with no cap. Condos start in the high $200,000's for one bedroom with 2 bath and $500,000-650,000 for 2 bedrooms with 3 bathrooms.

Central Las Vegas

Las Vegas Strip Property
As the Strip area (located on Las Vegas Blvd) goes vertical, high rise condos and condo/hotels are becoming very popular with nearly 60 projects in predevelopment or construction stages. The high rise condo projects going up on the Strip include Trump Tower, One Las Vegas, Panorama, Cosmopolitan and Streamline, to name a few. Prices start in the $500,000’s with no end in sight.

Northeast Las Vegas

Sunrise Mountain Las Vegas Property
Northeast Las Vegas is also known as Sunrise Mountain.  Compared to most areas of Las Vegas, Sunrise Mountain real estate is more affordable while at the same time has some of the best appreciation in the valley, above 30 percent last year. It has a wide range of housing options, including custom homes, tract homes and horse property.  Homes in the northeast valley start in the high $200,000 and top out in the millions.    

North Las Vegas

Aliante Property
In the world of real estate, North Las Vegas is famous for the master planned community of Aliante. This community, located on the Aliante Golf Club, is considered to have the friendliest neighbors, a distinguished equity appreciation rate of 15-21% depending of the subdivision and is all around the best place to live.
Aliante homes start in the $400,000’s. Houses in North Las Vegas start in the high 200,000’s! 4 bedroom houses are all above $1000, 000.

Tips On Financing/ Purchasing A Las Vegas Property

Here are some helpful tips to guide you through the whole process

• Determine financing

Getting prequalified lets you know how much money you will be able to spend on a house. Identify the mortgage company you want to work with, and then get prequalified. Typically a prequalification letter accompanies the Offer to Purchase to verify that you are a credit worthy buyer.

• The Offer to Purchase

This document spells out the terms you are willing to offer the seller, like purchase price, earnest money, money down, loan amount, due diligence period, personal property being conveyed with the house, Title Company, closing costs, HOA regulations, close of escrow and possession.

• Seller Signs the Offer to Purchase

Seller after agreeing will sign it and you'll have a legally binding agreement.

• Due diligence period

It starts once the agreement is signed. In Nevada this period is usually 10 days. Within that, all inspections should be completed, financing approved and the buyer approves or disapproves all property disclosures and reports.

• Dealing with your lender

You will need to make sure your lender has all the requested documentation for your loan promptly. They are probably going to impound taxes and insurance, so make sure they are in contact with your insurance provider.

• The final inspection

As the buyer you have the right to make a final inspection, usually within 3 days of closing, to make sure the property is in agreeable condition. The final walkthrough is the buyer's final approval of the property before signing the final documents.

• The final signing

You should have been presented with the Estimated Settlement Statement for review prior to coming in to sign. Reviewing this first will save a lot of headaches during the signing. Once you have signed all the documents, you are ready to take possession on the specified date.

After all of the above, you will be receiving copies of the final closing documents from the Title Company as well as policy information from the Home Warranty Company.

Congratulations!  The property is yours.