Brand New Townhouses from $122,990

The prices of homes in Las Vegas have shot up over the last several months.  I have found an amazing deal in northeast Las Vegas.  Brand new townhouses available from 122,990.  These are not just basic townhouses either, they feature two car garages and include granite counter tops and are being sold completed meaning all appliances and window coverings are included. 

The community, Cliffs at Dover,  located near Nellis Air Force Base has easy access to I-15 and is a guard gated community with a clubhouse and swimming pool.  Once completed the community will have 500 homes.  These brand new townhouses from $122,990 are selling quickly and have great financing incentives for first time home buyers. 

Las Vegas Real Estate Stabilizing

The Las Vegas real estate market has been hot over the past few months.  It appears the heat just like summer is leaving.  The Greater Las Vegas Association of Realtors announced yesterday that the average home price in September was down 1.1% from August 2013. 

There are several reasons this may be.  I can attest that as an active Realtor in Las Vegas I have seen some neighborhoods that have dropped a couple thousand dollars but this is certainly not across the board.  I expect the main reason in the average price dropping is that more lower priced homes were sold and fewer higher priced homes.  When you average it this will show a slight drop.  Prices certainly are stable and are not falling like a brick. 

As a Realtor in Las Vegas my main objective, besides providing the best service to my clients, is keeping a pulse on the market.  The market started cooling in the middle of August and is not chugging along with no help from the government shutdown but I will save that for another post.

If you have been thinking of selling, now is a great time as prices are up significantly for the year.  Las Vegas real estate is stabilizing and you can get a free report on the current value of your home here.

Relocating to Las Vegas

Now that you have realized you are relocating to Las Vegas, where do you live.  Unfortunately budgets sometimes dictate where we live but you still have choices.  If you plan on purchasing a property, learn the area and be realistic with your expectations.  Summerlin and Green Valley are very desirable area in the Las Vegas valley.  If you intend to purchase a home in Summerlin or Green Valley plan on paying at least $150,000 for a condo and over $200,000 for a house.  There are adjacent areas that are less but home prices have risen over 40% in the past year and the great bargains are simply nonexistent.

Foreclosures are still plentiful here in Las Vegas but with the recent price increases, banks have realized this is their chance to make some of their losses back.  Foreclosures are now typically listed at top price and do usually need work.  Inventory remains low, so just getting your offer accepted is a good deal even if it means you are paying top dollar. 

Set your dreams of the mansion aside and think really where you want to live.  What is important, being close to work, having great restaurants in the area or having easy access to the freeway?  These are the things to think about and then make your decision where to live.  Relocating to Las Vegas has never been easier with Mike Kruse as your Realtor / personal moving guide.

Buying a Home in Las Vegas

Buying a home in Las Vegas in the current market is certainly a challenge to say the least.  As of this morning there are 3,605 single family homes on the market in the Las Vegas valley which includes Las Vegas, North Las Vegas, Henderson and Boulder City.  That is roughly about 3 1/2 weeks supply.  A good market where everyone that wants to get a home can, on the 1st offer typically yoiu need at least 8,000 homes to be available.  Inventory obviously remains very low.  The lower the price, the tougher the purchase.  Even in the $400,000 range it is a challenge simply due to lack of supply in some neighborhoods.  There are areas in the Vistas village in Summerlin where there are 3 subdivisions without a single home available and it has been that way for the last 2 months.  In these neighborhoods, if a home does come on the market, the owner can just about ask any price and take offers.  Multiple offers are happening everywhere in the Las Vegas valley.  If you have just started looking and you think you found "the" home, you will soon realize buying a home in Las Vegas is more difficult than you think.  Be prepared to pay up to 25% + over the list price if you really like the home and don't even think about asking the seller for any concessions such as closing costs or doing repairs.  With that said, I did get 2 accepted offers for clients last week.  Buying a home in Las Vegas is a challenge but worth the effort.  Click this link to browse and see what is available today.