A look at Las Vegas Communities
Spanish Trails
Spanish Trails is the first master-planned golf community to be built in Las Vegas. Aimed at the luxury, golf crazy, fun loving population of Las Vegas it is spread out over 640 acres in the southwestern portion of the Las Vegas valley.
This lush guard gated high-end development has a beautiful 27-hole golf course.
You will find a wide variety of Las Vegas real estate choices at Spanish Trails between 11 distinct neighborhoods and 1252 total residences.
Siena
Siena, located at the southern end of Summerlin is in the heart of Las Vegas and is aimed at the retirement community. It is absolutely gorgeous 665-acre development. The residents of this mouth-watering community enjoy the most beautiful and challenging golf courses in Las Vegas.
The Siena community was developed with a Mediterranean theme in mind and many aspects of the development were actually patterned after Siena, Italy itself.
Rhodes Ranch
Rhodes Ranch, master-planned community is located in the southwestern part of the Las Vegas valley. This guard-gated community is built around the beautiful and challenging Rhodes Ranch Golf Course. The Rhodes Ranch Golf Course is one of the most beautiful and relaxing courses to play in all of Las Vegas.
Many of the best builders in Las Vegas have created a tapestry of distinctive neighborhoods in Rhodes Ranch that provide Las Vegas home buyers with a plethora of choices.
Condo conversions are keeping the median prices down:
The median price of a new home in Las Vegas today is $287,515. Last year's median price happens to be $241,750. The median price would have definitely been above $300,000 if not for large number of condo conversions taking place. This year alone around 620 apartments were converted and their median price was $154,400.
The market continues to be strong with new homes sales going up by 21 percent. The estimated closings on apartment conversions will top 6,000 this year.
Permits for new homes came down but apartment conversions increases and kept the sales up.
Las Vegas housing lower prices this year is a reflection of the condo conversion prices included in the data used to calculate the home prices.
Market Conditions for North Las Vegas
North Las Vegas is emerging as the most promising real estate market in Las Vegas valley. Sales are picking up and there has been an increased buyer activity. There are many newer developments coming up in the suburbs. Downtown area is also seeing more real estate activity. Many people are choosing buy homes or invest in this area.
Homes prices are expected to appreciate come summer. If you've been thinking about buying, now may be the right time. At 47% appreciation since 2004, the average sales price now is $263,396.86 for a single-family residence of 1626 square feet. As of April of 05, 202 homes were sold with an average $165.68 per square feet.
For investors though there are still some real good
investments out there it is really more difficult to get them unless you have done your market research thoroughly and have ready access to cash. If you are interested in knowing how much a home is worth there are many reputed websites, which will give you a rough estimate of the price.
