Lennar Homes At Walnut Grove:
Walnut Grove is a neighborhood in the Northern Las Vegas with three two-story models on offer. For the present around 159 homes are being constructed as part of the community in the villages at Siera Ranch. If all planned expansions are completed then the community will consist of over 900 homes.
Walnut Grove is offering 3 floor plans to home buyers the Aspen, Bayberry and the Hawthorn. All homes come with two car garages. The homes sizes vary from 2217 to 2530 square foot in area with 3-4 bedrooms and several option features for homebuyers to choose from.
There are four parks planned for the community. The Everything's Included package offers standard amenities like appliances, wiring for cable TV, fans, landscaped front yards and low-e windows.
Aid for first time homebuyers:
First time homebuyers can get help from the Nevada Department of Business and Industry Housing Division to buy their first homes. The division will allot fifty million dollars to help eligible home buyers by providing lower interest rates for a 30 year fixed interest loan. The assistance will be provided for down payments and closing costs.
If you are eligible as a first-time buyer you can get from $15,000 up to $50,000 in down payment assistance. This should help many of the lower income group families in the state to achieve their dream of having their own home a reality.
The division has selected Countrywide Home Loans as the program administrator for the borrower's first mortgage. Many branches located throughout the state are ready to assist borrowers who are interested in pre-qualifying for the program. The criteria for qualifying are a person must never have owned a home or has not had an ownership interest in a principal residence within the past three years and for Clark County one or two person household should not have more than $70,920 as annual income.
Fewer Rental Units
The great demand for new housing and the real estate boom created one major problem - of fewer rental units. As the demand for homes kept rising rental apartments and other rental projects got shelved instead builders started selling these apartment units as condos after upgrading them.
Many of the homes were bought by out of town investors who never really wanted to live in them. They were buying their second or third homes as investment property to sell later when the market peaked or as holiday homes.
The craze for condo conversions meant that existing rental apartments were converted into condos, many units were sold back to the residents of the apartments but others who could not afford the downpayments had no choice but to move to other locations.
The non-availability of developable land means that the rental projects get the lowest priority when housing projects are considered. The temporary workers from out side the city and other low-income groups are the most affected the fewer rental units available for renting.
