Located off Rainbow Boulevard and the I215 Beltway, Coronado Ranch offers a number of neighborhoods of single family homes and townhomes with views of the Spring Mountains during the day and the Las Vegas Strip at night.  Home prices in this delightful master planned community currently range from $101,000 to $399,000.  The builders who contributed style and design to the community are Carinao Homes, American West, Astoria and Pacific Southwest Development.

• The Resort is a rental community of flats and townhomes with a 24/7 guard gated entrance.  Amenities include pool, spa, fitness center and concierge services.  Six floor plans offer units from 788 to 1,310 sq.ft. with rentals from $850 to $1,395 per month.  Apartment amenities include a fireplace, ceiling fans, 9 ft. ceilings, private balcony or patio and more.
• Paseo Homes range from 1,347 to 1,718 sq. ft. priced from $169,990 to $186,990.  This community offers an active, outdoor lifestyle geared to young families and singles.  Amenities include a front yard paseo, which is a place to gather and socialize with neighbors, several parks, three pools and four playgrounds with tot lots for the little ones.
• Heritage Homes, built in 2007/8, range from 1,165 to 1,853 sq. ft.  Floor plans include five single and two story homes with two to three bedrooms and a two car garage.  Some homes feature island kitchens, game rooms or a study.
• Pinnacle Peaks is a gated community built in 2004 with ten single and two story floor plans.  Homes were built with three car garages and up to six bedrooms and range in size from 1,800 to 5,400 square feet.  Some homes offer a basement and large lots ranging in size from 9,000 square feet to approximately 1/4 acre.
• Woodbridge homes range in size from approximately 3,435 to 4,770 square feet with four to six bedrooms and three car garages.  Built in 2007/8, homes offer two to three stories.  Some homes offer a library, elevator, dry bar, game room, fireplace, study, dual master suite and more.

Spanish Trails Real Estate

Spanish Trails is a luxury community located in the southwest section of Las Vegas close to Tropicana and Rainbow not far from the Strip.  Developed in the 1980’s,  Spanish Trails covers 640 acres with 1,252 homes in eleven different neighborhoods.

This master planned community was one of the first actual private guard gated golf communities in the Las Vegas Valley.  Visitors to this gorgeous enclave must pass through one of two elegant guard gates boasting waterfalls and palm trees.

Among the many amenities offered in Spanish Trails is a private 27 hole golf course designed by Robert Trent Jones, Jr. which is a visual delight for players with numerous lakes, streams and waterfalls as well as views of the mountains.  Spanish Trails also offers a tennis center, two pools and spas and a fitness center.

Residences on the golf course include town homes from $300,000, semi-custom homes from $500,000 and custom estate homes beginning at $1,000,000.

If you would like to take a tour of one of the many master planned communities in Las Vegas, feel free to give us a call at 702.376.0088.

Las Vegas Single-Family Home Advantages

Buying a Las Vegas Home isn’t just about price, it’s about finding a residence that best suits you and your family’s overall needs and lifestyle. But as far as price is concerned, there are both wide and narrow cost of purchase differences between owning a private home or a condominium.

For example, a single-family home versus a condo home; which would suit your needs best? As far as the cost of purchase is concerned, an older two bedroom single family home would generally be more expensive than an older, two bedroom condo, but buying a two bedroom condo in an upscale building could often be as costly as a modestly expensive single-family home. A luxurious condo in a prestigious building can easily cost as much as a luxury home in an equally prestigious residential community.

Single-family homes offer a much wider choice of floor plans and architectural styles; ranch-style, two-story, split level, etc. Locations can vary as well, such as a corner property or cul de sac.

Carrying groceries into an elevator is often much more of a chore than simply unloading your purchases from your car.

A Las Vegas single family home is a better choice for families with young children, since a back yard offers more space for children and pets to romp and play, and a neighborhood of young families means more opportunities for the kids to find new playmates.

Single family home neighborhoods are generally closer to schools, playgrounds and libraries. A single family home offers more privacy and fewer restrictions than a condo. Storage space is far more generous. If you are handy with tools, you may want a workshop in your garage, or be able to work on your car, something that would not be feasible in a condo home.

The appreciation factor of condos versus single-family homes could be a consideration if you are buying strictly as an investment. On the average, condo buying/selling prices are much more sensitive to market fluctuations, and more volatile than private residences. Condo prices can often either rise or fall dramatically.

That means if your timing is right, your buy low, sell high strategy could make you a fat profit. But if you get caught in a down market, you may have to sit on the property for a long time.

If you are buying a single-family home as a place for your children to grow up in, and a place in which you will have become emotionally invested, then the appreciation factor is of less concern.

So, the appreciation factor of a condo versus a private home should be a consideration, but should not be a primary reason for your purchase if you are looking for a place to call home, and not just as an investment. Purchasing a Las Vegas Home should be about affordability, and what is a best fit for you and your family’s needs.

What is a Master Planned Community?  Usually found in warmer climates, they are large communities of new homes typically at least 1,000 acres in size with development and construction governed by specified standards of design and restrictions of land use.  These communities offer recreational areas, golf courses  and parks as well as schools, restaurants and shopping within the community.  Clubhouses with pools and spas are part of the community package.

In a Master Planned Community, all of the amenities and conveniences are planned and included ahead of time and are often in place before homes are built.

To maintain the original master plan, builders are carefully selected with home designs continuously reviewed.  There are a number of smaller similar type communities or subdivisions existing within the Master Planned Community providing potential buyers with a choice of home styles and prices.

Las Vegas offers a number of Master Planned Communities catering to individuals and families of various ages and life styles – with “something for everyone”.

Canyon Gate

This luxury low-density community just west of the Strip boasts 320 acres with only 507 homes and features custom houses, luxury condos and upscale tract homes.   Long considered the “Jewel of Las Vegas”, this Master Planned Community is family friendly offering kids’ camps and kids’ nights.

Close to the Spring Mountains and Red Rock National Conservation Area, homes in Canyon Gate have spectacular views.

The 24 hour manned gatehouse assures privacy and security to the owners of homes ranging from the $500,000’s to over $5,000,000.

The Canyon Gate Country Club offers a magnificent golf course with a 160 acre fairway designed by Ted Robinson and provides traveling golfers privileges at 192 courses throughout the world.  In addition to golf, the country club offers a number of amenities including gourmet dining, tennis and a state of the art fitness center.

In order to join this exclusive country club, your initiation fee will be $32,000 with approximately $500 in monthly dues.

Some of the amenities in this secluded community include five lighted tennis courts, an outdoor Jacuzzi and two outdoor pools and an indoor wet steam room.

Desert Shores

This beautiful, picturesque and quiet Master Planned Community is unique in that it is built around five man-made lakes.  Residents can enjoy boating, fishing and swimming in these lovely lakes which are home to ducks and swans.

This community was built in 1988 and includes 22 different residential districts with 3,351 units on 682 acres and offers residents a community clubhouse, a large swimming pool surrounded with a sand beach in the style of a lagoon and paddle boating on the lake.

Homes are available in Desert Shores from compact condos and medium priced homes to huge homes in their own gated areas.  Some lakefront homes have small docks.  At this time, prices in this popular community vary from the $90’s to $1 million and more.

If you would like to take a tour of one of the many master planned communities in Las Vegas, feel free to give us a call at 702.376.0088 or reply below.

When you are ready to sell your Las Vegas Home, it should be presented in the best possible way.  Staging by a trained and certified professional home stager helps to prepare a home for sale by pointing out the need for making minor repairs, repainting if necessary and eliminating clutter as well as re-arranging furniture and adding decorative accessories.

You can hire a trained and certified professional home stager to do the work  – or do it yourself.

To get an idea of how your home should be staged, pay a visit to some Las Vegas Model Homes in new communities similar in price to your area.

The common theme of model homes offers neutral colors and a sense of being large, bright and cheerful with lots of space.  The furniture arrangement allows a great deal of room to walk around.  Green plants and baskets of fruit add welcoming touches.  Lights are left on in all rooms as well as in closets and the laundry room.

One of the reasons why visitors are able to imagine themselves living in a model home is the lack of personal touches such as family photos and collectibles.  Consequently, there is no personalization of an owner that needs to be overcome.

The next step in staging your home is to walk around your property including both the back as well as the front yard.  Make note of necessary outside maintenance  such as peeling paint or dying shrubs or plants and have these problems fixed.  Be sure the lawn is regularly watered and mowed.

Once your Las Vegas Home is listed for sale, the driveway and front entrance of your home should always be swept clean in case a potential buyer drives by to check out the neighborhood.  Bicycles, cars and trash cans should be kept in your now uncluttered garage for the same reason.

Since a potential buyer will have an immediate reaction to the curb appeal when arriving at your home, remember that similar to a first date or a job interview, you cannot make a second first impression.

Now is the time to clean out your kitchen cabinets and closets because you can be assured, visitors will open them and look inside.  For those pieces of furniture and items of clothing that you no longer want, this is the time to either have a garage sale or make a donation to charity.  If there are cherished personal possessions you want to keep and take with you to your new home, consider renting storage space for these objects you love.

If there are objects such as chandeliers that you do not want to sell along with the house, remove them and substitute the old ones (that you hopefully kept) so that you do not have to refuse to sell these objects to the potential buyer.

If you have pets, arrange to have them stay at a friend’s house when your home is being shown.  Be sure to remove litter boxes and doggie pillows and clean and spray so that there are no bad odors to turn off your visitors.

Realtors typically have strong opinions about whether or not there are benefits to spending a good part of their day sitting at an open house.  Some love ‘em and some hate ‘em; very few are neutral about the experience.

There are a number of pros.  One of the benefits involves the social and networking aspect of sitting at an open house.  The Realtor has the opportunity to speak to all the people who come to visit the house.   Even if they are not currently serious buyers and are “just looking”, if the agent offers to provide information about the neighborhood as well as the house, the visitors may be impressed with his or her knowledge, positive attitude and outgoing personality.

Agents who engage visitors in conversation (low key – not pushy) can possibly connect with a future client.

Another benefit sometimes occurs when neighbors stop in to visit the open house and sign listing agreements with the agent.

Some agents provide weekday open houses so that other agents can come to view the property when first placed on the market – and possibly have one of their buyers interested in the home.

A benefit for home sellers  is that they become motivated to clear up the clutter, get the house in good shape for presentation and spend the day somewhere else.

One of the negative aspects of sitting at an open house is the feeling that some agents get of inactivity and wasting an entire day.  For those who do not get many visitors and if those visitors do not seem interested, this confirms the sense of time wasted.

In this difficult economic period, some people have been known to consider visiting open houses as a pleasant and free activity for a Sunday afternoon.

Agents who hold an open house in an upscale home may encounter security issues.  If there are several visitors arriving at the same time, some of these people may not have any interest in home purchase or even mere curiosity but may have more sinister or dangerous motives.  Keeping track of all visitors’ movements throughout the house is impossible for one agent to do.

Home sellers should also inquire what other marketing techniques will be employed by their agents to attract visitors to their home.  Will the open house be advertised in a local newspaper?  Putting several signs in the street and in front of the house will not be enough to draw serious potential buyers who want to plan the homes they will visit in their search.

Additionally, communities regulated by homeowner associations often have specific rules on how and when an open house is held.

The jury is still out on whether or not an open house is beneficial and, if so, for whom.

Nevada’s U.S. Attorney Daniel Bogden announced today the federal grand jury in Las Vegas indicted five people on mortgage fraud charges.  All five individuals were charged with conspiracy to commit bank fraud, mail fraud, wire fraud, (6) counts of bank fraud and criminal forfeiture.  Suzanne McAllister, an assistant escrow officer and notary at Lawyers Title, was one of the five indicted.

According to the Las Vegas Sun, The indictment lists 28 real property sales transactions involving 21 homes sold in Las Vegas between Aug. 25, 2005, and April 18, 2007. Seven of the homes were “flipped” or sold twice within short periods of time. A majority of the homes sold for more than $700,000, and the total value of the mortgages for the 28 transactions was $18.9 million.

If convicted, the defendants could face up to 30 years in prison and a $1 million fine on each count, and may be required to forfeit up to about $4.2 million.

The Southern Nevada Mortgage Fraud Task Force and U.S. Postal Investigation Service is handling the investigation.

Simply checking online for today’s posted rate may not lead to your expected outcome due to the many factors that can cause each individual rate and closing cost scenario to fluctuate.

We can preach communication, service and education all day long, but it’s our ultimate goal to earn your trust so that you can be confident in our ability to successfully lead you through this complex mortgage process.

While mortgage rates can change several times a day, the following questions will help you qualify whether or your lender truly knows what to look for so that they can provide you with the best rate once you’re in a position of locking in your loan:

Who determines mortgage rates, and what are they tied to?

Mortgage interest rates are determined by the pricing of Mortgage Backed Securities or Mortgage Bonds. The media often implies mortgage rates are based off the 10-year Treasury Note, which is incorrect.

While the 10-year Treasury Note has been known to trend in the same direction as Mortgage Bonds, it is not unusual to see them move in completely opposite directions.

How often do mortgage rates change?

Mortgage rates may change throughout the day, however they only change on days when the Bond markets are trading securities since mortgage rates are based on Mortgage Bond prices.

Think of a Mortgage Bond’s sales price similar to that of a Stock that trades up and down during the course of a day.

For example, the FNMA 30-Year 4.50% coupon is selling for $100.50. The price is 50 basis points lower from the previous day’s closing price of $101.00. In simple terms, the borrower would have to pay an additional .50% of their loan amount to have the same rate today that they could have locked in the previous day. Alternatively, the borrower would also have the option of increasing their rate by an average of .125%.

What causes mortgage rates to change?

Mortgage Bonds are largely effected by various market forces that influence the changing demand for bonds within the market. Some of the key economic factors that have the greatest impact are unemployment percentages, inflationary fears, economic strength and the overall movement of money in and out of the markets.

Like stocks, most fluctuation is caused by consumer and investor emotions.

What do you use to monitor mortgage rates?

There are several great subscription based services available to monitor Mortgage Bond pricing.

The key is to make sure the lender is aware they should be monitoring Mortgage Bond pricing, such as the Fannie Mae 30-Year 4.50% coupon, and not the 10-Year Treasury Note or the news media.

When the Fed changes rates, why do mortgage rates move in the opposite direction?

It is a common misconception that when the Federal Reserve implements a rate cut it is immediately correlated to a reduction in mortgage rates.

The Federal Reserve policy influences short term rates known as the Fed Funds Rate (“FFR”). Lowering the FFR helps to stimulate the economy and increasing the FFR helps to slow the economy down. Effectively, cutting interest rates (FFR specifically) will cause the stock market to rally, driving money out of bonds and creating potential for inflation.

Mortgage Bond holders need to obtain a higher rate of return on their money if inflation is increasing, thus driving up mortgage rates. With the Federal Reserve Board meeting every six weeks, this is an important question to ask. If your lender does not have a firm understanding of this relationship, they may leave your rate unprotected costing you thousands of dollars over the life of your mortgage.

Do different programs have different interest rates?

Conventional, FHA and VA loans can all carry different rates on a 30-Year fixed mortgage. FHA and VA loans are insured by the Federal Government in the event of defaults. Conventional mortgages are insured by private mortgage insurance companies, if insurance is required.

Typically, FHA and VA loans carry a lower rate because the investor views the government backing as less of a risk. While rates are usually different for each program, it may be more important to compare the monthly and overall cost during the life of the loan to determine which program best suits your needs.

Why is an Adjustable Rate Mortgage (ARM) rate lower than a fixed rate mortgage?

An Adjustable Rate Mortgage (ARM) is usually fixed for a specific period of time. The period is typically 6 months, 1 year, 3 years, 5 years or 7 years. The shorter time period the rate is fixed, the lower the interest rate tends to be initially.

This is due to the borrower taking the future risk of increasing interest rates. The only instance where this would not be true is when there is an inverted yield curve where short-term rates are higher than long-term rates.

Why are rates higher for different property residence types?

Mortgage interest rates are based on risk-based pricing. Risk-based pricing allows adjustments to par pricing for risk factors such as; FICO scores, loan-to-value percentages, property type (SFR, Condo, 2-4 Units), occupancy (Primary, Vacation or Investment) and mortgage type (Interest Only, Adjustable Rate etc).

This allows the investors who lend their money for mortgages to receive additional compensation for taking additional risk. An example is if the borrower encounters a financial hardship, are they more likely to make the payment on the home they live in or the one they rent?

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I am not talking about eco-friendly green. I am talking about little know residential communities with an abundance of greenery. I get many clients from out of state and they often complain about the lack of vegetation (plants,trees, grass etc.) in your typical Southern Nevada subdivision. When I moved here 20 years ago from Florida my first impression was that Las Vegas looked dirty. Not in a grubby sense of the word but in a barren, brown vacant lot sort of way. After all this time I don’t even see the open parcels of desert any more as anything but natural. If you are looking for the unusual in Las Vegas, something a little closer to the green grass of home, read on.

Two reasonably priced slices of green normalcy in an otherwise tan world are Pecolle Ranch and The Lakes. Both are located in Southwest Las Vegas within about 8 miles West of the center of the world famous strip. Both are located just to the East of their better know cousin Summerlin.

The Lakes is a small mixed use community with rough borders of Sahara Avenue to the North, Durango Drive to the East, Desert Inn Road to the South, and Hualapai Way to the West. Currently there are only 73 homes for sale in this 2 square mile area ranging from 55,000 to 3,700,000. Most of the residential units were built from the mid 1980′s to the mid 1990′s. What makes this subdivision different from most  if the lush community landscaping and the man made lake.

Peccole Ranch is just across the street (Sahara Avenue) from The Lakes. It’s Northern border is Charleston Avenue, Ft. Apache is the Eastern Border and Hualapai Way is to the West. Peccole Ranch is even greener than the Lakes and is crisscrossed with greenbelts featuring jogging paths, exercise stations and even a Frisbee golf course, There is also an excellent combo library/museum within its borders. Lots of shopping, restaurants and a  a couple of really nice casinos nearby make this area a great place to live. There are approximately 66 homes for sale in this area ranging from 44,000 to 400,000.

This just scratches the surface of what is available in these two communities. If you want to be in Las Vegas but don’t want to give up the familiarity of home, this just might be the place for you, Feel free to contact me if you have any question or want to take a tour of homes in the area ( I live only a couple of miles from here and love the area). My name is Greg Hoffman and I have been a Realtor in Las Vgeas since 1999. My phone number is 702-683-6913 or you can email me at greg@senasellsvegas.com

A pre-planned multi-builder development with recreation, public services, commercial sites and residential housing in a self contained community. This is part two of a multiple part series looking at various master planned projects throughout Southern Nevada. I will be focusing on Southern Highlands in this article.

Southern Highlands is located in the Southwest part of the Las Vegas Valley. Secluded up against the mountains the community is still convenient to the Las Vegas strip, the Airport (without being in the flight path) and easy access to I-15/California. The 2300 acre community has more than 50 acres of parks, walking trails and community sports facilities.

Southern Highlands is home to the Southern Highlands Golf Club. A private golf  course designed by Robert Trent Jones which is consistently ranked one of the top 30 golf courses in America. There is also a 42,000 square foot clubhouse and spa with dining and private party facilities.

There are two public elementary schools (Aldeane Comito Ries, Charles & Phyllis Frias) and a public middle school (Lois & Jerry Tarkanian). There is also a private school for grades k-8 (Southern Highlands Preparatory School). Visit these two links for more information http://www.ccsd.net/, http://southernhighlands2.reachlocal.net/page.cfm?p=12873/?utm_source=ReachLocal&utm_medium=CPC&utm_campaign=Brand

Currently there are approximately 213 resale homes for sale in Southern Highlands ranging in price from $106,000 to $10,000,000. In addition there are 12 builders currently selling new homes with prices similar to the resale range. Since this is a master planned community there are association fees to consider when buying a home here. Monthly association fees run  from as low as $39 up to$600 a month. Another cost to consider is called a SID (Special Improvement District), basically a bond that is repaid by homeowners over a period of years. The SID was initiated to pay for the initial installation of infrastructure (roads, sewers, sidewalks, streetlights etc.). The SID’s payments range from $260 to $4800 a year and not every house has a SID balance. They are transferable from old owners to new owners and sometimes you can find a house where they have been paid off.

Needless to say, I am a big fan of master planned communities and Southern Highlands is one of the standouts in Southern Nevada. Feel free to contact me if you have any real estate questions regarding Southern Nevada. I have lived here for 20 years and I have been a Realtor here since 1999. greg@senasellsvegas.com or 702-683-6913

CNNMoney.com came out with their list of the most overvalued and undervalued cities in the United States. You can read the article here or see the list of overvalued and undervalued cities. They listed Las Vegas, Nevada as 41.40% undervalued as well as the most undervalued city in the United States. In 2006, CNNMoney.com wrote a similar article where they said Las Vegas was 38% overvalued.

Good news for those who own Las Vegas real estate. If you are looking to buy a home this appears to be a very good time. These inventory levels won’t be this high forever. I know the same thing is happening with Sarasota real estate. Inventories are declining and sales are increasing.