How Can MultiGenerational Buyers Find Homes with Casitas Online?

 

Statistics show that today 20% to 25% of American families are caring for an aging parent or have an adult child living with them. That's up about 60% from 1990's statistics.

 

Especially in the Vegas Valley, with its rapidly growing retirement population, requirements for a home with a casita are becoming more and more frequent. So Las Vegas new home developers are building all new floor plans with casitas, guest houses or dual master options to accommodate this burgeoning housing trend.

 

The problem: more than 80% of Buyers use the Internet to browse prospective properties. But it can be hard to search by casitas or guest houses online to find the right floor plan. That's why we've set up dedicated pages on our web site to help people purchasing homes in Las Vegas or Henderson, Nevada locate specific properties with casitas or guest houses.

 

To view ALL the resale homes in the Las Vegas Valley offering casitas or guest houses, go to:

 

Las Vegas Homes with Casitas 

 

As of today, there are 205 homes on the market with casitas in a variety of price ranges from $120k to $30M. (The $30M property is Wayne Newton's former ranch. Check it out - it's fun just to view the photos!)

If you know what area you want to live in, we also have resale homes with casitas listed by neighborhood for the 18 communities that most often have that option available, including Anthem, Summerlin, Centennial Hills, Rhodes Ranch, Mountains Edge, Tuscany Village and Lake Las Vegas. 

 

If you are more interested in a brand new home with a casita, just give us a call at 702-985-7654 or email sold@greatlasvegashomes.com and we can send you all the new homes in your price range along with the floor plans. There are 22 new home floor plans currently available with casita options, ranging from $295k to $3M.

 

We also have special customized searches on our site for other frequent requests, including: homes with RV parking, one story ranch style homes, homes with pools, homes by school zone and homes by zip code. To find your dream home with all the amenities you want, go to:

 

Customized Las Vegas Home Searches

 

We hope you find these customized searches helpful, and we look forward to helping all our clients with special needs find just the right home for their families!

Las Vegas Sees Steady Appreciation in 2013

Here's an article from the Las Vegas Review Journal about the overall appreciation for the Las Vegas Valley during 2013. In addition, I have posted a list by zip code of the price changes between 2012 and 2013 for all the zip codes in Las Vegas.

Most ZIP Codes in Las Vegas Valley see growth in home values

By HUBBLE SMITH
LAS VEGAS REVIEW-JOURNAL

After spending years deep in the red, Las Vegas home price appreciation rates returned to the black in 2012 in all but three of the valley’s 58 ZIP codes, SalesTraq housing research firm reported.

The largest gain was in ZIP code 89030, an area of North Las Vegas around Interstate 15 and Cheyenne Avenue, where median home prices increased 21.1 percent last year, to $45,000.

Ironically, 89030 was also one of the hardest-hit ZIP codes for foreclosures, not just in the Las Vegas Valley, but in the nation. That same turnabout is reflected in many of the ZIP codes that posted double-digit appreciation in 2012.

“In terms of rate of price appreciation, select areas that were hardest-hit have seen some pickup in the last year as prices over-corrected in those areas,” SalesTraq housing analyst Brian Gordon said. “They experienced greater-than-average depreciation and they now have some of the greatest demand and lowest availability, which have helped to drive prices north.”

The negative numbers came in outlying areas such as 89085, the northern-most ZIP code in the Aliante master-planned community of North Las Vegas. Prices dropped 3.5 percent there, from $168,000 in 2011 to $162,100 last year.

Buyers are less willing to pay higher prices for homes that are farthest away from their place of employment, shopping centers, parks and schools, Gordon said. Areas closer to the Beltway in Aliante, such as 89084 and 89086, showed 3.5 percent and 2.9 percent appreciation, respectively.

Home values in Boulder City (89005), which was not included in previous ZIP code reports, depreciated 8.5 percent to $151,000 in 2012.

“If you look at the Las Vegas Valley, you’d see that nearly every ZIP code showed positive appreciation,” Gordon said. “The areas that experienced the most significant growth are ZIP codes in and around master-planned communities like Summerlin and Anthem.”

ZIP code 89052, which includes Anthem, posted the second-highest appreciation rate at 20.8 percent, with a median price of $232,000. That’s up $40,000 from 2011.

Read the entire article in The RJ

Is Marijuana the new “Pot of Gold” for Real Estate

Oh happy day!

Since recreational marijuana became legalized in Colorado, hordes of new residents have relocated to the Centennial State, and in Denver alone, more than 4.5 million square feet of space has been dedicated for commercial cultivation facilities, storage and distribution, and retail shops. Talk about your Mile High City - that’s over 78 football fields for you Bronco fans!

Commercial and residential purchasers in Colorado urban areas are scrambling to find new locations, something that is much easier said than done with the restrictions in place for local zoning ordinances. Prices have already zoomed for both residential and commercial real estate, and commercial real estate, in particular, is in short demand.

As a consequence of that shortage, the Las Vegas real estate market is already seeing the early stages of a new boom driven by cannabis consumers. Even though medical marijuana applications have a temporary moratorium in place, experts in the industry expect to have recreational marijuana legalized by 2016 at the latest. After seeing what happened in Colorado, investors are already staking their claim to prime locations in Las Vegas. (In order to accommodate these investors more efficiently, we are already developing our new web site for Las Vegas Marijuana Real Estate. Updates to current zoning regulations should be posted by the beginning of April.)

We have gotten numerous calls from national name brand companies that are diversifying their portfolios into what looks to be a highly lucrative new “field.” (Sorry for all the bad puns, but I can’t seem to help myself!) Quite a number have already tied up commercial warehouse space in Clark County for future cultivation facilities.

But don’t expect to see a boatload of marijuana dispensaries along Las Vegas Boulevard. Though the Strip and downtown Fremont Street would seem logical spots for retail pot shops, marijuana sales are prohibited in any of the gaming corridors, in addition to the normal zoning restrictions about being close to churches or schools.

Another more subjective concern is that local authorities do not want to bring potential crime into what are now low crime areas. That means you won’t be seeing a retail shop near Summerlin homes or close to Anthem Country Club any time soon, even once both medical marijuana and recreational marijuana are legalized. You’ll probably have to drive a bit to get to your favorite dispensary.

And individual homeowner’s associations may/will prohibit growing marijuana crops in private homes. If you want “room to grow” you may need to look for a house outside of an HOA. It actually might not be a bad idea to start looking right now for a potential grow home. We expect to see a residential population shift to the unincorporated areas of Clark County once recreational MJ is legalized, which will drive up prices in the non HOA communities. You don’t want to be priced out of that market and have your dreams go “up in smoke.”

When is the Best Time to Sell A Home?

December is a GREAT month to sell!

If you have been thinking of selling your home in Las Vegas after the first of the year,  here are three great reasons you may want to consider listing right away.  

1.       Even though buyers are much more scarce during the holiday season between Thanksgiving and Christmas, the ones that are out looking are serious.  You get fewer looky loos disturbing your routine. Many sudden corporate relocations take place at this time of year, and the buyers usually have a short time span to purchase before they have to move. They will take advantage of the extra time off from work to make a decision.

2.       Buyers are also more prone to make an emotional spur-of-the-moment decision during the holidays.  It's a great opportunity to decorate your home festively and make it warm and inviting.

3.       There is less competition during the holiday season. Many sellers take their property off the market so they won't be bothered while they are trying to get ready.  Inventory is historically lower at this time of year than any other.

If you are unsure about what your home is worth, just let us know and we will prepare a free market analysis with the latest comparable sales. Just fill out our online form at:

 http://www.greatlasvegashomes.com/home-evaluation.php

We'll get back to you right away!

Affordable Las Vegas Master Planned Communities

There are a wide variety of master planned communities in Las Vegas, with homes in all price ranges, from starter homes to multi million dollar estates. Below are some of the most popular and affordable communities, from one side of the Valley to the other.

 

Aliante is a beautiful master planned community in North Las Vegas, set against the back drop of the majestic Sheep Mountain Range. This huge 1905 acre community has more than 6500 homes as well as commercial centers, shopping, dining, and even a brand new casino, Aliante Station Casino.

 

There are several types of housing in Aliante, from starter homes to retirement homes in the extensive Sun City Aliante. In addition, there are more upscale luxury homes offered in the Club Aliante area.

 

Aliante includes 428 acres dedicated for use by the public and for recreation. There are three parks, a natural arroyo, and a 24 mile interconnecting trail system. The 20 acre Nature Discovery Park has huge grass fields, playgrounds, picnic areas, a large pond, and tennis and volleyball courts. Click here to view Aliante homes for sale

 

Desert Shores is lush community of scenic man-made lakes and canals on the northwest side of the Las Vegas Valley adjoining the Summerlin master plan, and it is one of the few lake communities in the entire Las Vegas Valley. Watch out for the duck and swan crossings!  Feathered inhabitants roam freely throughout the tranquil neighborhoods here.

 

Developed in 1988 by RA Builders, construction was completed in the mid 1990s. Sprawling over 682 acres, there are 22 residential neighborhoods and 3068 residences, with choices ranging from cozy condominiums to lake front luxury custom estates. Click here to view Desert Shores homes for sale

 

Green Valley Ranch is a small resident-friendly master planned community on 1300 acres in the foothills of the Black Mountains of Henderson, Nevada. Green Valley Ranch is noted for its biking trails, parks, walking paths, green belts and wonderful schools with panoramic views of the Las Vegas Valley below.

 

In the heart of Green Valley Ranch is The District, a vibrant outdoor mall of tree-lined cobblestone streets and quaint main plaza featuring more than 50 boutique shops and restaurants. There are approximately 4,000 homes and condos in Green Valley Ranch, divided up into 30 smaller neighborhoods of various sizes and price ranges including custom homes in the prestigious Estates at Green Valley Ranch. Click here to view Green Valley Ranch homes for sale

 

Summerlin is a beautiful master planned community on the western rim of Las Vegas, only 12 minutes from downtown or 20 minutes to the Las Vegas Strip. By far the largest master planned community in the city and rated #1 for growth in the entire nation, Summerlin occupies 22,500 acres and features an extensive array of parks (over 150), biking and hiking trails (more than 150 miles), shops, schools, libraries and business districts, as well as community tennis courts and pools, baseball and soccer fields, recreational facilities and an amphitheater for the performing arts.

 

Currently there are 19 distinct ”Villages” in the Summerlin area, though eventually there will be a total of 31. A “village” is a mini master planned neighborhood with its own parks, shopping, restaurants and trails. Just to give you an idea of the diversity, below are brief descriptions of some of the villages in Summerlin. Click here to view Summerlin homes for sale.

 

Mountains Edge, tucked away in a secluded desert canyon on the southwestern edge of the Las Vegas Valley, is a beautiful master planned community of approximately 12,500 residences on 3,000 acres meandering around 500 acres of community parks and trails. Ancient Indian tribes roamed this area to find water and new hunting grounds, and to this day their petroglyphs remain etched into the canyon walls of the surrounding mountains. Later, during the 19th century, frontiersmen traversed the Old Spanish Trail which passed right by the entrance to Exploration Park.

 

Mountains Edge contains over 30 separate villages by more than 20 different builders, each with its own unique flair and common amenities including: community pools, neighborhood parks, walking and biking trails, playgrounds, and athletic fields. Property types range from easy maintenance condos to large family homes and everything in between. Click here to view Mountains Edge homes for sale.

Homes for Sale in Private Las Vegas Golf Communities

Las Vegas has long been known for its luxurious guard gated golf course communities. Here is a brief overview of five of the most popular private golf country clubs in the Valley. 

 

Spanish Trails - When early pioneers traveled by wagon train through the Las Vegas Valley bound for the California Gold Rush, their route became known as the “Spanish Trail.” Today the guard gated Spanish Trails Golf & Country Club is located on over 640 acres in the southwest portion of the city, only 15 minutes from the Las Vegas Strip. Spanish Trails features eleven separate communities with a wide variety of lifestyle choices: from town homes and condos to elaborate multi acre estates. The Sultan of Brunei constructed a lavish 140,000 square foot compound (yes, really 140,000 square feet!) on 15 acres overlooking the golf course with multiple residences and pools. Many of the home sites command scenic double fairway views. Find Spanish Trails Homes for Sale

 

Anthem Country Club - More than 48,000 acres of wildlife preserve borders the tranquil master planned community of Anthem, perched high in the Black Hills of Henderson overlooking the Las Vegas Valley. A variety of distinctive neighborhoods with over 15,000 residences are spread over 4755 acres. Anthem Country Club is a private guard gated golf course community of over 1600 homes centered around a championship Hale Irwin/Steven Foster golf course. The golf course winds through the paseos of the neighborhood, providing outstanding views for residents and players alike. The club house area has a state of the art fitness center, resort style pools, beach volleyball, and tennis courts, plus a gourmet restaurant and sports grill. There are more than 16 unique floor plans to choose from in the semi custom developer models, as well as some of the finest custom homes and home sites in the city. Find Anthem Country Club Homes for Sale

 

Lake Las Vegas - Known as a golf oasis in the middle of the desert and located in Henderson, Nevada near the Lake Mead recreational district, the prestigious master planned community of Lake Las Vegas encompasses over 3,500 acres and caters to those looking for an upscale resort lifestyle. The master plan was developed by Ron Boedekker and the Lake Las Vegas LLC, becoming one of the largest construction endeavors in Nevada history. The lake alone took five years to fill – it was built on top of the Las Vegas Wash which continues to flow under the lake. Construction began in 1987, and today Lake Las Vegas features 19 distinct neighborhoods, and real estate offerings range from custom home sites and waterfront estates to golf villas, luxury condos and town homes. Because of its international reputation as a resort destination community, Lake Las Vegas is home to numerous film stars, TV celebrities, athletes, political figures and a wealth of prominent local business owners. Find Lake Las Vegas Homes for Sale

 

 

Red Rock Country Club - Located within the dynamic master planned community of Summerlin on the western edge of Las Vegas, the guard gated golf course community of Red Rock Country Club is located on 738 acres at the base of the majestic Red Rock Canyon National Conservation Area. Set against a backdrop of majestic mountains and gently rolling terrain, this premier community, noted for its lush landscape and stunning views, features contemporary semi custom luxury homes and executive custom estates with an impressive range of styles and floor plans. Entry to the community is through one of several guard gated entries, providing a high level of security and privacy to residents, and keeping traffic to a minimum within each separate neighborhood. There are just over 1,000 semi custom luxury homes in Red Rock, offering both one and two story designs to choose from. Residences range in size from 2,100 square feet to over 5,000 square feet and many have golf course frontage. Find Red Rock Country Club Homes for Sale

 

MacDonald Highlands - Carved into the base of the Black Mountains on the south side of the Las Vegas Valley is MacDonald Highlands, a secluded private golf course community overlooking the city lights. This elite neighborhood is part of the MacDonald Ranch master plan, and has easy access to the wonderful amenities in the Green Valley Ranch area as well, including The District, a quaint cobblestoned outdoor mall with over 50 boutique shops and restaurants. Lush foliage, Canary Palms, babbling brooks and waterfalls greet visitors at the entry to MacDonald Highlands, one of the most beautiful in the city.  The 24 hour guard-gated entry and roving patrols offer the utmost in privacy and security to all residents. At completion, MacDonald Highlands will have 17 distinct neighborhoods, mostly comprised of large custom estate homes overlooking the Dragon Ridge Golf Course, though Toll Brothers did build a smaller semi custom subdivision of fairway homes ranging in size from just under 3000 square feet to just over 5000 square feet. Find MacDonald Highlands Homes for Sale

Finding Homes by Las Vegas School Zones

Choosing the right school for your children goes hand in hand with buying a home in Las Vegas for your family; Both of which are very important decisions.

You’ve found the perfect real estate agent who found you the perfect house, but what is the neighborhood school? Will my child be able to take the school bus? How many students are there per class? Add these things to the long, yet wonderful, list of "Things Parents Need To Know!" I’ll share some of my short cuts with you hoping this information will make your home buying and school search easier.  

There are specific zones within the school district that designate which schools service specific neighborhoods. This information is found on the MLS Listings (Elementary, Middle, Junior HS, and High School), but that information is not guaranteed to be accurate. When a school district changes its ‘zoning’ it does not automatically update the school information on a property that is listed for sale or rent. 

For example, when I was looking to purchase a home in Las Vegas,  I found the perfect house…. but it wasn’t in the same zone so my children would have to change schools. Not good, so I kept looking. From that point on I personally double-checked every address I was interested in so I knew exactly which schools my children would attend if we purchased that particular house.  

A little background information: The Clark County School District, as of 2012, is the fifth largest school district in the United States. It serves all of Clark County, Nevada, including the cities of Las Vegas, Henderson, North Las Vegas, and Boulder City.

I wanted to learn more about the schools in Clark County, so I did some research. I found these types of reports to be very helpful in the school choice for my children: Annual Reports of Accountability, State of Nevada and Specific Schools – Adequate Yearly Progress (AYP), Test Scores on Assessments, and many levels of Demographics. I found all this information at this website: http://www.nevadareportcard.com/   

 

You can find out what schools a property is currently zoned for by visiting the Clark County School website by going to: http://ccsd.net/schools/zoning/search/ 

 

This specific link will bring you to the School Zoning Search by Property Address. When you get to this page, simply type in the Street Number and Street Name. The school results will show you exactly which schools that particular address is zoned for and the Transportation Department’s contact information is found on that page. (Keep in mind, almost ALL school personnel are on vacation during the summer and you probably won't be able to contact them.)

What happens if you find "The Perfect House" but it’s not zoned for the school you want your child to attend? There is a process called "Open Enrollment" you can go through with the school district requesting special permission. There is no guarantee your request to change your neighborhood school will be honored and you cannot even make the request until you can show proof of residence (copy of utility bill in your name at that address, for example). 

If you don't have already have an address, but you have selected a school, you can search homes for sale located in specific school zones by going to: Vegas Homes for Sale by High School or Vegas Homes for Sale by Middle School

 

Do the research in advance and make an educated decision to avoid headaches and/or heartbreaks down the road.

by Lisa Albarian - guest blogger and mother

When Old Becomes New Again in Las Vegas

Whether it’s old houses being renovated or old movies being restored, Las Vegas residents are certainly attracted to both.  Over the past ten years I’ve seen dozens of Home Depots and Lowes stores spring up all over the Las Vegas Valley which includes Henderson and North Las Vegas.  All in very convenient locations for the everyday handy man and/or woman that recently bought a fixer upper house with the desire of turning it into a home…….a classic home to enjoy living in.  Many homebuyers are even purposefully seeking out "old Vegas" homes from the 60s and carefully updating the plumbing and electrical systems while retaining that "old Vegas" retro look in neighborhoods like Rancho Bel Air, Rancho Circle or the Scotch 80s.

A similar scenario has also recently been occurring with vintage classic films.  Digitally restored movies such as “Casa Blanca” and Alfred Hitchcock’s “The Birds” have been brought to our local move theatres throughout the Valley.  And for "one night and one night only" each month, our local residents have thoroughly enjoyed them.  I for one had the pleasure of seeing both of these classics on the big screen with big sound in a theatre packed full of excited movie afficionados.  Young and old alike piled in to fill most of the seats.  It reminded me of the opening night for one of the new blockbusters such as “Transformers”, “Batman”, or “The Twilight  Series”. 

 

These vintage classics have been brought back to the big screen by fanthomevents.com.  I’m looking forward to December when an solid gold classic I’ve never seen will be on the big screen.  I don’t know how I’ve lived to be as old as I am and have never seen “To Kill a Mockingbird,” but I’m looking forward to this vintage film that will be brand new to me.

Patty Annis

Team Manager

The Tonnesen Team

Homeowner Help from Nevada Energy!

Tips from a Las Vegas Homeowner about what to do with old appliances 

What do we do with our old appliances? My old frig wouldn’t fit in the backseat of my sedan, so I really needed to figure out what to do. After asking a number of local appliance companies about "Delivery Of The New and Haul Away The Old" fees, I ran across a little known secret about Nevada Energy. Nevada Energy has a rebate program where they will not only come pick up the refrigerator, but they will mail you a rebate check for $50!!! 

If your refrigerator still gets cold and is between 10-30 cubic feet in size, you can call 1-877-289-8260 to schedule a pick up. You need to have it plugged in so they can verify at time of pick up that it still gets cold, and they will mail a check for $50 to you in about four weeks. And since they have a 4 hour window for pick-up, I was told I can simply run an extension cord to the Refrigerator, set it out on the driveway with a note giving them permission to haul it away, and when I get home from work – it will be gone! I love it! And it worked like a charm.

 

Now I need to find out what to do with an old stove and microwave….. I’ll let you know.

 

by Lisa Alberian
Tonnesen Team Administrator Extraordinaire

Las Vegas - the Gourmet Capital of the World?

Back in the day, the all-you-can-eat buffet for $2.99 is what everyone talked about when they came to visit Las Vegas. After a night of carousing on Fremont Street, we would pile into the Golden Nugget for the late night steak and lobster special for only $5.99 or the 50 cent shrimp cocktail. But our tastes and expectations have changed a bit.

 

It all started back in 1992 when Wolfgang Puck opened Spago at Caesars Palace. Now he has seven restaurants in Vegas, including one at McCarren Airport.

 

Eight years later in 2000, there were still only two more adventurers: Emeril Lagasse and Bobby Flay. Today there are many more famous chefs opening signature restaurants and trying their luck at new culinary ideas. I’m thankful so many wonderful chefs have decided to use Las Vegas as a “tasting ground” for their innovative ideas. The service quality is usually remarkable along with the unique food combinations. (It's one of the things that makes living in Las Vegas so amazing. We have more five star gourmet restaurants and chefs per capita than any other city in the world.)

“What’s THAT!?!?!” has become a key phrase based on Kitchen Nightmares, and many people watched Chef Gordon Ramsey choose his executive chef on Hell's Kitchen for his recently opened Steak House at the Paris Hotel. There’s a sign on a wall at Caesars Palace touting a new restaurant coming soon (Love the pig silouette covered in a UK flag design). We all wonder how Gordon Ramsey finds the time to do it all (and many of us now fear searing scallops).

 

Also at Caesars is Mesa Bar and Grill owned by Bobby Flay. The outer wall is made of glass so you can see across the tables into the kitchen. One word: Tapas! 

 

Turn to the right and down the hallway you’ll see another sign on a wall stating only one word: NOBU. Hard Rock Hotel hosts one of Nobu’s Japanese fusion restaurants which offers zen-like décor with excellent customer attentiveness, but what’s in the works at Caesars is nothing short of spectacular! Nobu is opening an exclusive restaurant AND his first ever Nobu Hotel. It’s so beyond words, I can only share the link: https://www.totalrewards.com/nobu/ 

BAR, BOOK and BAM? Check out Emeril Lagasse’s Stadium at the Palazzo or Emeril’s New Orleans Fish House at the MGM Grand. The list goes on and on, so if you’re a Food Network fan, Wanna Be Chef, Foodie, or just want a glimpse of a Famous Chef – be sure to make reservations and expect to pay a high price for a high quality dining experience in the “tasting ground” of Las Vegas.

 

by Guest Blogger and Food Junkie
Lisa Albarian
Writer for the Las Vegas Real Estate Market News Blog

 

What Foreign Buyers Need to Know

We have received several requests lately from overseas buyers about what the requirements are for foreign nationals who want to purchase property in Las Vegas. Actually the process is pretty simple - we have listed the guidelines below:

1.       Except for Canadian citizens buying second homes in the States, most foreign nationals will need to purchase with cash because the financing for foreign nationals has really dried up. They will need to bring proof of funds, a current bank statement or a bank letter of credit, in order to submit an offer.

2.      They will need to have a US bank account with cleared funds. So all money for the purchase should be placed in a US bank with enough time for the funds to clear. If they wire in the money, it will only take a couple of days for the funds to clear.

3.       There are no special taxes or fees for foreign homebuyers using the property as a primary or secondary residence. Rental properties would be subject to US federal income taxes annually.

4.       When they go to sell the home, the escrow company will withhold a percentage of the sales price for US federal taxes until the foreign buyer has filed and paid the US taxes in total. I can’t give you a specific percentage, because it depends on the sales price, if there has been a gain on the home, and what laws are in place at that time. Right now most escrow companies are withholding 10%.

And that's about it. There are a few countries whose citizens are not eligible to purchase homes in the States (usually terrorist related), but that is a very small number. And currently with the great rate of exchange against the US dollar and record breaking low prices on Las Vegas housing, it makes all the sense in the world for foreign buyers to take advantage of our real estate market.

 

 

 

Great Golfing in Vegas!

By Diann Tonnesen

Whether you’re looking for a weekend getaway or you're a golf addict like me, Las Vegas has some of the best and most luxurious golf courses around. In the summer when I was a kid and school was out, I used to play in the SNGA junior golf program, and we always played a different course each week. Due to there being over 50 golf courses in Vegas, it was never a challenge to find a new track.

All of the courses have a unique design that separates each from the other. The price ranger differs for public golfers, depending on the golfer’s choice of 9 or 18 holes. The medium price on a public course for a full 18 holes is about 75 dollars with a cart. Some of the prices for the more prestigious courses might be from $150-$300.

My favorite courses to play is tied between Dragon Ridge, Rio Secco, the Lake Las Vegas South Shore course and Anthem Country Club, keeping in mind that there are very few local golf courses I have not played. These particular courses contain hidden greens and obstacles that can challenge the best of players. When I was in high school, we were forced to walk the Rio Secco golf course in Seven Hills  (which anyone who has golfed there can tell you it’s not easy to play even WITH a  cart), so remember to bring a compass and a rope. Some of the sheer edges can be difficult to walk up (or should I say scale) and quite dangerous as well.

So be careful which ever courses you are visiting and remember to bring some water with you - this is Vegas after all, nothing but dry heat!

PS... My parents always came to watch me play, but I am still not sure whether they were really watching or checking out some of the fabulous homes that surrounded the courses. Ah well, at least they showed up! LOL

 

Shocking Facts About Appraisals!

Last month we had a guest speaker at our team meeting who has been doing appraisals in the Las Vegas Valley for more than 20 years. She has a stellar reputation in the industry, and usually comes to speak to us at least once a year to update us on appraisal formulas, how adjustments are made, the value of specific improvements to real estate in Las Vegas and trends in appraisal values.

But this time, a random question about how appraisers are chosen by the banks led to some shocking discoveries!

First: a little background. Because of the “mortgage meltdown,” the federal government passed specific laws requiring mortgage lenders to order appraisals through a “neutral” third party. Appraisal management companies were formed. These companies receive the appraisal order from the mortgage lender and then assign an appraiser from their “approved” list. The mortgage lender cannot ever speak to the assigned appraiser, and all communications must go through an online portal to the appraisal management company.

The general population, Las Vegas Realtors included, have been under the assumption that these appraisals were assigned in rotation to the next appraiser in line to preserve the integrity of the process. Not so!

The appraisal management company charges a fixed fee to the mortgage lender for each appraisal. When the management company receives an appraisal work order, they send out a “first come, first served” type email to all the appraisers on their list. From the responses, the management company then selects the appraiser that is willing to complete the appraisal in the shortest possible time for the lowest possible price!

So if ten appraisers respond with the same general timeline, the management company will then select the CHEAPEST appraiser. Say the appraisal fee the management company is charging the lender is $450. If one of the appraisers that responds is willing to charge only $200 and the rest are charging more, the management company gives the order to the least expensive appraiser and pockets the difference.

This means that every appraisal that is being done is being awarded to the appraiser that is willing to charge the least. YOU GET WHAT YOU PAY FOR. In most instances (though not all), these are the less experienced appraisers. (Well established appraisers like our guest speaker will not even sign up to be on the list with appraisal management companies!) In addition, because these appraisers are earning less per appraisal, they have to make up in volume for charging less, which means that they are less likely to spend the extra time to truly evaluate each subject property. They are also less likely to “reconsider” the value of an appraisal that is contested.

So it is no wonder that over the past couple of years homebuyers, sellers and Las Vegas lenders are more consistently experiencing “bad” appraisals that do not truly reflect current market value.

Top Four Golf Communities in Las Vegas

Want to know where to buy golf course property in Las Vegas? Serious golfers all have different criteria when it comes to what they want in a golfing neighborhood - it's not one size fits all. This list is only my opinion, but I think the four neighborhoods below offer a diversity of lifestyles and represent the best of each type of development: from livability of the community, to affordability of the housing, and last, but certainly not least, the quality of the course itself.

Anthem Country Club Listings – I will say right off the bat, that I am prejudiced about Anthem being the best golf community in Vegas. Our family was actually the first to move into it when it was brand new, and I can’t imagine living anywhere else. The atmosphere is more laid back/down to earth in Anthem than some of the other communities (think high desert quiet elegance rather than Palm Springs ritzy), and there is no particular age demographic. There is a state of the art fitness center, gourmet dining and stadium tennis facilities as well. Prices fall in the median range for private golf living, and the course itself is definitely championship quality. 17 out of 18 holes offer a spectacular view of the Strip, and the placement of the different tee boxes seriously challenge low handicappers, but also allow novices to enjoy the course too.

Lake Las Vegas South Shore Listings – Lake Las Vegas is without a doubt the most beautiful of all the golf course communities in the Valley. From the moment you enter, you will feel like you have entered a charming Tuscan lake-side retreat in the hills of Italy. The heart of the community is the Montelago Village with its cobblestoned streets, boutique shops, hotel, casino and dining. The community actively promotes special events – wine walks, beer festivals, concerts, etc. For many of the owners, a place in Lake Las Vegas may be a second, third or even fourth vacation residence rather than a primary home so there aren’t a lot of families. And it is located a bit off the beaten track. But the golf course is superb, and has been home to the Wendy’s Three Tour Challenge a number of times.

Spanish Trails Listings – Spanish Trails is one of the oldest private golf communities in the city, starting construction in the mid 1980s. A lot of high end local executives built custom homes in Spanish Trails at that time, including the iconic Steve Wynn and even the Sultan of Brunei. This is the only private course that boasts 27 holes of great golf, and many of the homes have fantastic scenic double fairway views. And there is plenty of challenge for even the best of golfers. (Take plenty of  balls for the Lake 9.) The clubhouse and facilities are smaller than some of the newer courses, but the ideal location close to the Strip and lush park like setting makes this a favorite with locals.

Rhodes Ranch Listings – Rhodes Ranch is the only community listed here that is not a private country club, though the elaborate gate guarded entry could fool anyone. The neighborhood itself is beautiful, with tree lined streets and lots of greenery. Plus they have a truly incredible community center offering everything from tennis to work out facilities and lounges, to their own private water park. This is a very family friendly neighborhood, and the pricing and monthly HOA fees are more affordable than the private country club communities. Plus they give discounts on golf for residents, and many charity events are held here. For the price and amenities, you can’t beat this neighborhood for a golf environment without the higher price tag of a private country club. 

Las Vegas Shadow Inventory - Foreclosure Fact or Fiction?

"Where have all the homes gone?!" In the Las Vegas real estate market it's like the clock has suddenly been turned back to the year 2004. Within hours there are multiple offers on everything listed under $250k, often sight unseen, and most accepted contracts are going above list price. New home builders are warning real estate agents about imminent price increases.

At the beginning of November there were approximately 11,500 single family homes actively on the market that were not yet under contract. Today, less than 6 months later, there are only 5,074 active single family listings in the Las Vegas MLS. That's about a six week supply at the current rate of absorption.

This is a direct result of Assembly Bill 284, which effectively stopped the non judicial foreclosure process in Nevada. Before AB 284 became law, lenders were filing around 5,000 Notices of Default per month. Now that figure is down to about 300 a month. Actual foreclosures are down to about 800 per month, and even that figure is dwindling rapidly. REO teams are downsizing staff and services, as there doesn't seem to be an end to the drought any time in the near future.

So where is the "shadow inventory" we keep seeing in the news? Since Nevada lien holders can no longer foreclose on properties non-judically, they have gotten much more aggressive about encouraging and approving short sales. Many owner occupants with true hardships that don't qualify for loan modifications are receiving cash incentives from $3k up to a whopping $30k for cooperating in a short sale.

Lienholders are also modifying many borderline loans, often unsolicited. I had a call from one of my clients last week. He had been trying to refinance his home through a new lender. (He was just barely upside down and had excellent credit.) Out of nowhere, he got a call from his existing mortgage lender, Bank of America, offering an interest rate reduction that saved him more than the refinance would have, at no cost, and without extending the life of the loan!

So in the foreseeable future, the "shadow inventory" in Nevada is a myth. And with the Las Vegas economy recovering, by the time AB 284 expires, many Nevada homeowners will be able to achieve a work out solution with their lien holders.

For more news on Nevada's improving economic situation and rapidly shrinking inventory, check out this week's recent news articles:
Single Family Homes Down to Six Week Supply
Las Vegas is a Seller's Market Again

And don't forget, legalized medical marijuana is also coming to Las Vegas. That will mean quite a few people moving to the state (especially the ones that don't like the cold in Colorado!) to take advantage of the new laws shrinking inventory even further. For the latest on the marijuana situation, go to our new site at Las Vegas Marijuana Real Estate today.

Drive Past a Home and Get the Listing Right on Your Phone!

There are some incredible new phone applications coming out on the market every day, and the best one yet has been released for real estate. Ever been driving around a neighborhood and see for sale signs on some Las Vegas homes that looked appealing? Did you wonder what the price was and what it looked like inside? Wonder no more! Now you can get the complete MLS information right on your phone while you are still sitting in front of the house.

Just register for our new mobile text search and start cruising the areas you like the best. Using your phone, you will send a text message to our system to log on. Then you will enter the property street number and choose which street you are interested in. Our system will send you the complete MLS listing, including price plus all the photos that the listing agent has taken on the property. And if you want to schedule a showing, all you have to do is click the link right in the listing to call us immediately.

Our system will give you detailed information on ANY properties listed in the Las Vegas MLS system throughout Las Vegas, Henderson, Boulder City, North Las Vegas and Pahrump, including foreclosures and auction properties. So don’t forget to save the application right on your phone. You can use it as many times as you like. And later on when you get home, you can log on to your main computer and bring up every home you texted about for further review and comparison.

To get started, just go to: http://www.greatlasvegashomes.com/text_mls_listings.htm. You can register the cell phone numbers that you want to use, and then you will receive an email with instructions to start texting for homes!