LV Realty - Jacqulyn Richey

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New Home Builder Enters Rental Market

The Las Vegas real estate market is back in the news again, with mixed results. Prices did decline the first quarter of this year according to data from the Greater Las Vegas Association of REALTORS. However, with the rate of foreclosures slowing down, it is not uncommon to see homes selling above list prices in certain market segments.

The supply of foreclosure homes hitting the market has slowed down in part due to new foreclosure documentation standard in effect. That combined with the influx of investors buying up properties to rent over the last year has kept inventory down.

That hasn't kept another major player from entering the rental market. Atlanta based homebuilder Beazer Homes announced its foray into the single family home rental market.  Beazer has created a real estate investment trust (REIT) to buy, refurbish and rent recently constructed homes.

The new business, Beazer Pre-Owned Rental Homes Inc (BPRH) is launching with nearly 200 homes, valued at $20 million,  in the Phoenix and Las Vegas real estate market.  The contribution is part of $85 million raised for the new venture. The company hopes to expand beyond the Phoenix and Las Vegas markets within a year.

“BPRH intends to become a leader in the single-family rental homes business and is one of the first REITs focused exclusively on the single-family home rental market,” the company said in a statement.

BPRH will be based in Phoenix and Beazer will receive a non-controlling interest in the new company.

BPRH is entering the market a little late compared to other large rental companies like UnitedAMS, who started buying up distressed Las Vegas properties last April. Bottom line: it is still less expensive to buy a home in the valley than it is to rent it. With another large player entering the market, it is only a matter of time for prices to start going back up again.

Thanks for stopping by our Las Vegas real estate news blog.

Tuscany Village Grand Sales Event

This Saturday one of Henderson's nicest gated golf course communities is holding a huge sales event.  Tuscany Village is being developed by Dunhill Homes and features a championship golf course, 35,000 square foot recreation center and picturesque Italian architecture. Located just a few minutes from Lake Mead, Tuscany Village features single family homes and townhomes with home sizes starting from approximately 1,200 square feet to over 2,600. Along with new homes, there are also exciting resale opportunities in some of the more mature neighborhoods.

The event is from 11 am to 4 pm this Saturday, March 31st. Dunhill Homes will be offering special sales incentives to all qualified home buyers. Tasty Bunz gourmet food truck will be on hand with free gourment food. During the event there will be a $500 Apple gift card giveaway and a classic car show.

If you are thinking about buying a home in Tuscany Village, call 702-493-8033 for free, expert representation. Thanks for stopping by my Las Vegas real estate news blog.

Top Five Retirement Communities in the Las Vegas Valley

The Las Vegas valley is home to many communities for those 55 and better. Whether you want to live in an adult only community in North Las Vegas, Henderson, Las Vegas or even Boulder City, you have that choice. Not all retirement communities were created equally, however. So I've put together a list of my top picks for the valley. Communities are ranked by several factors, including amenities, price, construction, cost to run the home, feedback from friends living in the community, etc. If your community isn't on the list, feel free to vote for it by leaving a comment and why you like living there.

The popularity of senior living communities has continued to grow over the last decade in the valley. It is not surprising given the many benefits for retirees to move to Las Vegas: no income tax, lower housing costs, a wide variety of dining, shopping and entertainment choices, dry climate and a low cost of living make it an excellent choice for the active adult. According to US News, Las Vegas is one of the fastest growing retirement spots in the US. Given the current climate of the Las Vegas real estate market it is definitely a buyer's market. So here are my top five picks:

1. Sun City Anthem in Henderson - this Del Webb community is located in Green Valley in the Anthem Country Club. Winner of numerous awards, the community offers first rate amenities, energy efficient homes and access to nearby medical facilities, fine dining and shopping. Residents can enjoy a wide range of outdoor and indoor activities at the Anthem community center.
2. Sun City Summerlin - another Del Webb community located in the gorgeous master planned community of Summerlin developed by the Howard Hughes Corporation. This was the Del Webb's first senior living community in the Las Vegas valley. The village was completed in 1998 and residents enjoy a wide range of golfing choices (three semi private courses). The community has been meticulously maintained. Aside from a great game of golf, there are also tennis and raquetball facilities, fantastic local shops and dining options and access to all of Summerlin's amenities.
3. Ardiente - originally developed by Centex homes, new homes are still available from Shea Homes. Currently it is the only planned senior community in North Las Vegas. Potential home owners have multiple "green" options available on all new Shea homes at Ardiente including 3kW rooftop solar systems. The community is guard gated, with two swimming pools, bocce ball court, tennis, walking trails, fitness center and a beautiful clubhouse.
4. Solera at Anthem - this is a smaller Del Webb community inside Anthem Country Club. Solera features villa style homes built with the latest energy saving features like Low E windows and concoon insulation. Residents have access to all of the amenities that Anthem Country Club has to offer.
5. Lake Mountain Estates - located in Boulder City, this community of manufactured homes is unique because the owner also owns the land the home resides on. The community offers views of Lake Mead and has very low home association fees. Amenities include a community center and swimming pool.

There are several more retirement communities in Las Vegas and Henderson to choose from. If you are thinking about buying a retirement property, feel free to contact me with your requirements and I would be happy to send you current listings. Thanks for reading our Las Vegas real estate news blog and please stop by again. 

Related Posts:

• Top Five Golf Course Communities

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Profile Created: 01/06/2011
Profile Updated: 01/06/2011