Summerlin - Ever Popular
Real Estate in Las Vegas is at an interesting phase this year. There is excitement about new projects, apprehension about the failure to take off by some reputed names and the contrary opinions about the actual situation here. Is the market booming or not? Is it good advice to invest here or will there be no appreciation? Real Estate experts put forth various theories but the actual reality centers around a few facts.
Yes, the market is booming; the price rise may not be as spectacular as it was, but by no means is the demand down. The fact is there are two or probably more than two distinct types of buyers in Nevada. Out of state investors, looking for a condo in the heart of the strip may find it difficult to get a unit of their choice, as there is a real shortage here. Many projects failed to take off which has left investors wary, and some have been delayed. Add labor shortage, rise in construction rates and you get the picture. Condo prices will rise due to greater demand than supply.
The medium income residents of Las Vegas or those looking to buy their first home are also in a bit of a fix. Many apartments are being converted to condos to meet that demand and single-family units are not always affordable. They need to rethink their plans and perhaps go in for a condo development.
Retirees relocating to the Valley are in the midst of a buyer’s market. There are many projects with homes of every imaginable type being developed, that one is spoilt for choice. Of course, they are a distance away from the strip and if that is your attraction then you will have to wait for the redevelopment of the downtown area where the City is investing in and supporting new high rises.
However, many master planned communities are a very attractive proposition. Frankly, the need to visit the strip is not necessary as casinos and entertainment centers are being built in these regions too. You can take your pick from master planned communities that are completely self-sufficient.
Summerlin is the Nation's largest master planned community at 22,500 acres. Started in 1990 it has enough land to keep building for the next 15 years! Summerlin real estate is one of the best selling communities in the nation. With over 90,000 residents currently residing here, there may be 170,000 people when the project is complete. Every major builder is here and there will be 30 major communities within its borders. Summerlin is a self-sustaining community and has seen one of the highest appreciation rates in the state.
Its designs, community layout, parks, appreciation have always been in the forefront of the industry. The new Redrock station casino going up at Charleston and 215 change and reshape the sub-urban living atmosphere.
The Ridges at Summerlin is one of the most exclusive golfing communities in the Southwest featuring Jack Nicklaus Bears Best Golf course. The Ridges is a Guard-Gated Community of luxurious custom homes nestled alongside the Red Rock Canyon National Conservation Area. Beautiful homes in natural settings and four custom neighborhoods are the main attraction. At an elevation of 3,200 feet, the homes at The Ridges offer breathtaking views of mountains, valley, and the city.
Yes, the market is booming; the price rise may not be as spectacular as it was, but by no means is the demand down. The fact is there are two or probably more than two distinct types of buyers in Nevada. Out of state investors, looking for a condo in the heart of the strip may find it difficult to get a unit of their choice, as there is a real shortage here. Many projects failed to take off which has left investors wary, and some have been delayed. Add labor shortage, rise in construction rates and you get the picture. Condo prices will rise due to greater demand than supply.
The medium income residents of Las Vegas or those looking to buy their first home are also in a bit of a fix. Many apartments are being converted to condos to meet that demand and single-family units are not always affordable. They need to rethink their plans and perhaps go in for a condo development.
Retirees relocating to the Valley are in the midst of a buyer’s market. There are many projects with homes of every imaginable type being developed, that one is spoilt for choice. Of course, they are a distance away from the strip and if that is your attraction then you will have to wait for the redevelopment of the downtown area where the City is investing in and supporting new high rises.
However, many master planned communities are a very attractive proposition. Frankly, the need to visit the strip is not necessary as casinos and entertainment centers are being built in these regions too. You can take your pick from master planned communities that are completely self-sufficient.
Summerlin is the Nation's largest master planned community at 22,500 acres. Started in 1990 it has enough land to keep building for the next 15 years! Summerlin real estate is one of the best selling communities in the nation. With over 90,000 residents currently residing here, there may be 170,000 people when the project is complete. Every major builder is here and there will be 30 major communities within its borders. Summerlin is a self-sustaining community and has seen one of the highest appreciation rates in the state.
Its designs, community layout, parks, appreciation have always been in the forefront of the industry. The new Redrock station casino going up at Charleston and 215 change and reshape the sub-urban living atmosphere.
The Ridges at Summerlin is one of the most exclusive golfing communities in the Southwest featuring Jack Nicklaus Bears Best Golf course. The Ridges is a Guard-Gated Community of luxurious custom homes nestled alongside the Red Rock Canyon National Conservation Area. Beautiful homes in natural settings and four custom neighborhoods are the main attraction. At an elevation of 3,200 feet, the homes at The Ridges offer breathtaking views of mountains, valley, and the city.
posted by realestatevegas | 12:02 AM
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