Redpoint Summerlin and Redpoint Square Summerlin Video Page. Brand New Redpoint Summerlin and Redpoint Square Summerlin Model Tour Video Page! Click the image on the left to check out all of the current videos!
This youtube page will be updated all the time! Be sure to subscribe to my channel!
Taylor Morrison Savannah and Cascades are now open!
Taylor Morrison just opened Savannah and Cascades today! There are now 4 single story models that I have created video tours for this single story community. Pricing starts around $550,000.00 and goes over $635,000.00 for the base model homes. Options, lot premiums and additional items will cost more on top of the base price.
Cascades will feature 2 and 3 story homes starting off around $397,000.00 and will go up to $475,000.00. These prices are for the base models. Options, lot premiums and additional items will cost more on top of the base price.
Richmond American-Moro Rock Townhomes:
Richmond American Moro Rock townhomes are 55% sold out. Their models are now open as well. You can check out my videos of their models at the top of this blog page. There are 2 models the Chicago and the Boston. Both are aroun 1,500 square feet and have a 2 car garage.
Redpoint Summerlin and Redpoint Square Summerlin:
Redpoint Summerlin and Redpoint Square Summerlin are off to a great start. Demand for new homes is huge since our resale inventory is at an all time low. Right now, there is only a 45 day supply of homes for over 2.5 million people that live in Clark County. This does not include people from other states that are moving here too.
Be sure to check out my youtube.com page for all of the video model tours and current information about Redpoint Summerlin and Redpoint Square Summerlin.
Also, I am offering a $2,000.00 buyer incentive to all of my Summerlin Buyer clients. Call me today at: 702-768-2552 before you visit a new home builder. Remember, they do not represent you, they represent themselves. It’s my job to make sure your transaction is smooth and easy!
On this blog post you will find information about the Las Vegas Real Estate Market Stats for October 2020. The numbers in our inventory of availalbe homes continues to fall to new lower levels. This is not a good thing if you are in the market to buy a new home.
With the lack of quality inventory and the increased demands we are seeing from buyers coming into the county, supply is not keeping up with demand. Currently, The Las Vegas Valley is seeing a 1.4 month of supply for homes. Low interest rates along with demand from California buyers is putting a huge strain on the housing market in Clark County.
Las Vegas Real Estate Market Stats for October 2020
Single Family homes are now seeing the average sales price up to it’s highest in almost a decade at $340,200.00. This figure represents a 10.8% increase in pricing from September 2020. The average new listing coming onto the housing market is listed at $350,000.00. This figure is up 7.7% from September.
Demand is also higher now for new home construction as well. Builders are now building homes in new communities without having a buyer for them. Redpoint Summerlin for example has several communities that have not yet opened up to public sales yet home building is clearly visable from these communities. Home builders are aware of the limited supply of homes on the resale market and will take full advantage of this decline in inventory.
If you are in the market to buy a new home keep in mind it may take several months now to find your perfect home. It’s a strong sellers market so do not expect great deals, closing costs or other perks you would get in a buyers market. Still, with this in mind, I love to negociate for my clients! I am not saying that there is not a great deal out there, but have realistic expectations of this housing market.
Make sure you have a plan and can act on it as a buyer. This means having your proof of funds letter sent off to your Realtor if you are a cash buyer. If you are financing, make sure you are pre-approved. Better yet, get full under writting approval from your lender. This makes you look like a strong buyer.
Target a Certain Location to Find a Home
If you want better results and are on a certain time frame, ask your Realtor to target certain areas for you that you are interested in. This includes automatic MLS email searches that notify both of you ASAP for new results. Do not wait several days to act on a new listing. You and several thousand other people will be looking for a home too. Stand out in the crowd. Have all of your ideas ready to go as to what you want in your new home. Talk to your Realtor and let that person know what you are looking for.
If you are new to Las Vegas, be sure to check out my communities page to help you find that perfect area in Las Vegas or Henderson for you to live! https://lvrealty4sale.com/communitiy-pages-in-las-vegas-and-summerlin/
If you have any real estate questions, please contact me anytime at: 702-768-2552 direct.
Savannah Taylor Morrison Redpoint Summerlin Update
Savannah Taylor Morrison Redpoint Summerlin Update as of October 2020. Currently the models are still under construction. Progress has been made and the models should be opening soon. Base Model home prices will start around $539,000.00 and go past $630,000.00 for their top base model.
Square footage starts around 1,981 and goes up to 2,574 square feet. Additional information has not been released at this time. Check back here for more information.
About the community:
This subdivision will feature 170 lots with 7 different floor plans. Currently, Talyor Morrison will be modeling 4 of the 7 different homes once they open. This community will feature all single story homes. There are several homes with a 3 car garage option as well. The design looks like a very modern approach to their models.
Pictures of the models so far:
Be sure to sign up here for your $2,000.00 buyers incentive if you buy a home in Summerlin with me as your Summerlin Realtor. Click here for more information:
If you are in the market to buy a new home in Summerlin, these homes will be worth checking out when they open.
You can also check out my Redpoint Summerlin and Redpoint Square Summerlin page for more information: https://lvrealty4sale.com/community/redpoint-summerlin-village/
You can also check out Taylor Morrison’s web page about Savannah Redpoint Summerlin here: https://www.taylormorrison.com/nv/las-vegas/las-vegas/savannah-in-summerlin/available-homes
For additional information about Taylor Morrison Savannah at Redpoint Summerlin, please call me anytime at: 702-768-2552.
Las Vegas Home Prices Continue to Rise in September- Even with the lack of inventory, home prices in Las Vegas continue to jump to new records. The average sales price for a single family home in The Las Vegas Valley is now at $337,250.00. A change in price of 8.8% from $310,000.00 in September 2019. This is due to the lack of inventory as well as the lowest rates in mortages we have ever seen. Check out the Fox 5 article here: https://www.fox5vegas.com/news/las-vegas-area-home-prices-set-another-record-amid-short-supply/article_3c69db28-07d0-11eb-81e5-b332d96e117e.html
Buyers continue to find limited options for housing here in Las Vegas. New home construction usually is about 20% higher than the resale (MLS) market. With new homes, most buyers will have to wait at least 6 months to build their new home. This is great if you are not in a rush to buy a home. If you are looking on the resale market, be ready to act on a home ASAP. This means if you are a cash buyer, have a proof of funds letter ready. If you are financing, make sure you are approved with your loan officer and try to get a full approval letter from your loan officer. This helps you stand out from the crowd of other buyers and it shows the seller you are ready to make the purchase.
If you are in the market to buy, make sure you start researching areas, what you are looking for in a home and have a game plan once you find that home you love. This means figuring our what you are willing to pay, do you need to remodel? Carpet, paint or flooring in general are a few things to think about when looking at homes on the resale market. If you need suggestions to areas here in Las Vegas, check out my communities page here: https://lvrealty4sale.com/communitiy-pages-in-las-vegas-and-summerlin/
Call me today to discuss how I can help you find your dream home in this market! 702-768-2552.
Las Vegas Home Prices Continue to Rise With Lower Sales Recorded- The Las Vegas real estate market continues to see pricing rise as well as demand for homes. Sales did fall from 2019 numbers due to the lack of inventory. Supply of homes did drop to around 2.4 months compared to a supply of 3.9 months in August of 2019.
Currently, the average sales price is at $335,000.00 up from $330,000.00 in July. Demand is still very strong from California buyers as well as out of state buyers. Local buyers are cashing out equity and upgrading to bigger homes. Several of my clients have cashed out their smaller homes that the bought 5-10 years ago to buy a bigger home that they now can afford due to the amounts of equity they have in their smaller home. In addition, I am also seeing more first time home buyers hitting the market. With interest rates still under 3%, renters are now able to get a great mortgage deal and save a lot of money on their new mortgage payment.
Inventory and Demand:
Inventory still remains very low and is a concern for me. I am getting a lot of questions from buyers as to possible foreclosures hitting the market and having some type of pricing correction. Here is my response to this question. 1) Inventory is very low. 2) Demand is still very high. 3) If the supply is low and demand is high, this means that pricing will continue to go up. 4) If pricing comes down, it’s because demand is no longer there. It also means that our market would need to add another 5,000 to 10,000 units for sale in a short period of time. In 16 years of doing this business, I have NEVER seen that happen. 5) The state of Nevada still has an anti-foreclosure law on the books right now which means no bank or servicer can foreclose on a home.
The foreclosure process in Nevada could take at least 6-8 months or longer from the period of when the State of Nevada allows foreclosures again. This means that banks and servicers will have to work with the home owner to avoid foreclosure. 6) Most people will have equity in their homes so why would you not sell your home and cash out your equity? This makes no sense to me. You would give up your home to foreclosure? The only people that would face foreclosure are the people that just recently bought a home within the past year.
In conclusion, I am not saying that the market will never come back down. I welcome some type of pricing correction to happen in the future. I cannot predict the future but I can use facts and data to see that the Las Vegas real estate market right now is strong and is helping people upgrade to new homes and it’s relocating a lot of people from other states to Las Vegas. When you buy a home, you are buying a place to live in. You are not buying a home as an investment. Investors buy into real estate with cash and then do not have to worry about a mortgage payment. They are able to make money on that home as an investment over the long term. As a buyer for a home, you are buying a home for the tax benefits, the pride of ownership as well as future equity results not short term gains.
Check out my foreclosure information page if you need help to avoid foreclosure. Currently, there are plenty of government programs to help you. Here is the link to that page: https://lvrealty4sale.com/how-to-avoid-foreclosure-in-las-vegas/
If you are a buyer looking to purchase a new home, check out my communities page here: https://lvrealty4sale.com/communitiy-pages-in-las-vegas-and-summerlin/
Here is the Fox 5 news article about our current market conditions: https://www.fox5vegas.com/coronavirus/southern-nevada-home-prices-set-all-time-record-though-fewer-homes-sold/article_98563dfe-f29b-11ea-b857-07ebdd3a490d.html?utm_source=FOX5%20Vegnkas&utm_medium=referral&utm_campaign=Breaking%20News
Redpoint Summerlin and Repoint Square Summerlin Update 9-2020
As we see more progress develop in Redpoint Summerlin and Redpoint Summerlin Square, I thought of providing updates as to model construction and when some of these communities will start to open. Please see below for information on specific developments. Redpoint Summerlin and Repoint Square Summerlin Update 9-2020 has plenty of infomation for you below.
Pulte Carmel Cliff
Pulte has started to grade the northeast corner of Far Hills and Sky Vista. Their community is called Carmel Cliff at Redpoint Summerlin. There will be 4 two story homes so far to chose from. Square footage starts around 2,851 and goes up to 4,577. Pricing has not been established yet. You can check out there web site here: https://www.pulte.com/homes/nevada/las-vegas/las-vegas/carmel-cliff-210613
Taylor Morrison ( Formerly William Lyons)
Taylor Morrison is building an all single story home community called Savannah. There will be 170 lots available with pricing starting around $550,000.00. 3 car garages will be available. Models are currently under construction and will have 4 model homes to preview. There will be 7 different home types that will be offered at Savannah Redpoint Summerlin. Models should open by the end of the year. Check out their web site here: https://www.taylormorrison.com/nv/las-vegas/las-vegas/savannah-in-summerlin
Richmond American Moro Rock
Moro Rock started selling at the end of May and they are now 40% sold. Town homes start around $312,000.00 for around 1,500 square feet. There are two models to chose from: The Chicago or The Boston. Both plans will have a 2 car garage and have 3 bedrooms. They will expand this community next door to their current location due to high demand. Check out their web page here: https://www.richmondamerican.com/nevada/las-vegas-new-homes/las-vegas/moro-rock
Woodside Homes Cyrstal Canyon and Obsidian
Woodisde Homes currently is building models for Crystal Canyon. So far there are 4 models being built. 2 single story homes and 2 two story homes. Lot sizes look small. Pricing has not been set as of this post. No additional information is available.
Toll Brothers Acadia Ridge
No new things to chat about here. Acadia Ridge is still being graded right now. No additional information has been posted on their web site. You can check out there page here: https://www.tollbrothers.com/luxury-homes-for-sale/Nevada/Acadia-Ridge
Be sure to call me today (702-768-2552) and find out how to get your $2,000.00 buyer incentive on any home in Summerlin over $350,000.00. Check out this page to register for the incentive: https://lvrealty4sale.com/redpoint-summerlin-contact-page/
Las Vegas home prices continue to rise according to The Las Vegas Association of Realtors and a Fox 5 Las Vegas news report. According to the article and the association, buying a home right now means paying at least $330,000.00 as the median sales price once again sets a new record. Last month, prices were around $315,000.00 as the median sales price. Now with higher demand, low interest rates and a shrinking inventory, buyers are paying top dollar. We are now in a full out sellers market.
Current Inventory Levels:
Inventory levels have now dropped to a low 2.5 month supply for 2.5 million Clark County residents. The numbers are not good if you are in the market to buy a new home. I usually do not want to put addidtional pressure on my buyers but, if you find something you like, you need to act on it. Las Vegas home prices continue to rise due to demand. It’s really that simple. Will we see home prices double? I doubt that. I think at some point next year we may see things cool down some what. Demand from out of state buyers is fueling this craze. I am seeing a lot of California buyers and east coast buyers as well.
Active Inventory Numbers:
Currently, there are only 8,390 units of homes, town homes and condos for sale in Clark County. These numbers continue to get lower as demand over the summer time surges. Summer months are usually the most active in Las Vegas real estate. New home construction is also seeing a huge demand coming from buyers. The average wait time to build an new home from dirt is usually 6-8 months depending on the building and their work force. There is also a huge labor shortage right now in the construction industry in Las Vegas. All of these factors will come into play as demand continues to surge.
In closing, Las Vegas home prices continue to rise due to demand. If you are in the market to buy a new home or sell your current home to cash out your current equity, now is the time to call me. Let’s chat about the market and what your real estate goals are.
Las Vegas Home Prices Set a New Record For June 2020 coming in at $325,000.00 as the average sales price. This figure is acording to Tom Blanchard President of Las Vegas Realtors Association. Inventory remains very low at a 2 month supply of homes for a population of 2.5 million people here in Clark County.
Sales however have been cut in half due to Covid-19 but the real estate market in Las Vegas reamins strong. Demand for homes comes as interest rates remain at all time low levels. Buyers think that their buying power and affordability make it a strong case to buy a new home.
Pricing Up from June 2019
Prices compared this time from June 2019 indicate that overall prices are up 6.9%. With strong demand, and low inventory most homes being sold will be in a sellers market. This means sellers are getting to get top dollar for their homes or close to it.
Is now a time to sell or buy? That will depend on your specific needs for real estate here in Las Vegas.
Las Vegas Home Prices Set a New Record For June 2020 indicates that our market is strong, people are able to afford a new home. As the economy picks up, more demand will be seen here in Las Vegas for homes.
What Does This Mean For Buyers?
If you are on the fence waiting out the market to buy a new home, you may want to rethink this. Therefore, If demand continues to rise and supply continues to shrink, pricing will continue to go up. This will make it harder to find a home within your budget. If you can afford to buy a home and pay for it for the next 3 years, now is the time to buy. In addition to this, if you have job security now is the time to buy. If you are concerned about your job, do not buy.
What Does This Mean For Sellers?
If you have been waiting to sell your home, take advantage of the low inventory market. Now may be the time to sell your home. Getting top dollar for your home depends on demand and market conditions. If you need help selling your home, call me today. I can provide you with a free market analysis and show you how I can help you get top dollar for your home.
The Good News:
June 2020 Real Estate Data for Las Vegas continues to show how strong our market is. The bad side of these numbers continue to show us that our supply is extremely low at 2.5 months of supply. In May, our supply was at 3.10. 8,523 units are currently for sale on the MLS as of this Blog post on 6-2-2020. This includes Single Family Homes, Town Homes and Condos here in the Las Vegas Valley.
The Bad News:
Inventory continues to fall and new inventory is not catching up to demand. This senario may indicate that pricing may come up at some point over the summer time. Simple supply and demand will determine the outcome as to how our summer market will affect prices. Summer usually is the busy season for buying and selling homes here in Las Vegas.
Review-Journal Article About New Home Construction:
Interesting Article that was published in the RJ on June 27th indicates that new home builders are seeing an uptake in new home building permits pulled. New home construction is still off however the continued trend is showing a bounce back and that buyers are now getting back into the home buying season.
Check out the link to this article here: https://www.reviewjournal.com/business/housing/las-vegas-homebuilders-see-sales-uptick-amid-pandemic-for-now-2062803/
Buyer traffic has been strong since May according to the article. 289 sales in June compared to 38 sales for the entire month of April. Building permits were up to 417 in May but that number was still half of what it was in May 2019. Still, the article is cautious about the future pointing out if a second outbreak of Covid-19 happens, no one can tell what will happen to the local economy.
Thanks to Eli Segal of the RJ for the information obtained for this blog.
The Other Numbers:
Inventory numbers for May 2020 were at 10,291 units on the MLS. In June, that number dropped to 8,523. A difference of 1,768 less units for sale. This can be in combination of homes sold, homes taken off of the market or expried listings that may have left the market all together. The numbers do show a massive drop in standing inventory for the entire MLS.
Closed Sales May/June 2020:
In May, we saw 2,177 sales. In June, we saw 2,877 sales. A difference of 700 sales. In this state we are in economically, that is a good sign. An uptake in sales and demand will continue to show a strong interest in Las Vegas Real Estate. If the numbers stay positive, I think pricing will continue to rise and demand will be strong.
In closing, the June 2020 Real Estate Data is strong. If you are on the fence so to speak about buying a home, here is my advice: If you are strong financally, I would suggest buying now while pricing is moderate. If you continue to wait out the market thinking it will come down, there are no indicators of that right now with the above listed data. Most people in Las Vegas are in an equity situation with their homes. This means if they lost their jobs now, they can sell and make a profit rather than short sale or foreclose. There are government forebarance programs to help people as well. All of these factors indicate that the housing market locally is strong and stable. Call me anytime if you have any questions about my data and this blog. 702-768-2552.