Terri White

FHA LOANS POPULAR

For the past several years, Las Vegas homebuyers have purchased most homes with conventional loan programs. That has changed recently, and the FHA mortgages are the most popular loan programs being written by Las Vegas mortgage brokers and bankers. The federal government has placed great emphasis on the FHA loans and hopes that these loans will help bring new life to the current real estate market.

Las Vegas is a great target for FHA borrowers. Since home prices have decreased during the past 2 years, as FHA limits have increased, many homebuyers find these loan programs to be their ideal solution.

The way that FHA loans works is: FHA insures loans that are originated by approved lenders. FHA does not purchase loans. If a FHA insured loan become delinquent, FHA pays off the mortgage to the lender, takes ownership of the home and then sells it as a HUD home.

TYPES OF FHA LOANS

Fha loans are available for purchasing or single family, duplex, triplex or fourplex properties that are owner occupied homes. The increase in FHA limits have made these loans more popular. For example, the new limit for single family FHA loans in Clark County, Nevada is $400,512; the limit for a fourplex in Clark County is now $769,250.

Other changes in FHA loans involve the concessions that are allowed by the Seller of a property. Sellers can still contribute up to 6% of the loan amount, but down payment assistance from Sellers has been eliminated. So, a Buyer must have a down payment of at least 3.5% for a FHA loan, effective January, 2009. There are other underwriting qualifying standards, as with other loan programs. It is important to deal with an approved and experienced FHA lender. Details about FHA loans can be found at www.hud.gov. Las Vegas has many FHA approved lenders; if you would like a list of them, contact Las Vegas Properties at 1-888-876-8383 or email terrilvp@cox.net.

North Las Vegas Welcomes Aliante Station

North Las Vegas is one of the fastest growing cities in the country. The popular master planned community, Aliante, is home to the brand new Aliante Station Casino and Resort. Residents of North Las Vegas are really excited about this new addition to the community. This "destination resort" is a $662 million development that will offer 202 rooms, 14,000 square feet of convention space, beautiful casino, sports book, a 16-screen movie theatre and 650-seat multipurpose showroom.

Station Casinos Premier Properties

The owners of Aliante Station opened Red Rock Resort two years ago, and Aliante Station was designed to give patrons the same upscale feeling in a more family-oriented setting. The property will have a TGI Friday's, Dunkin Donuts, Johnny Rockets and a unique lounge that is a combination of a nightclub and video poker bar. Among the guest rooms are 9 larger suites offering living rooms with marble countertops and 65-inch flat-screen TVs. The Access Showroom will offer tabletop searing and deep-booth seating, reminiscent of the "old" Las Vegas showrooms.

Camacho's Catina will open its first restaurant outside of California, and Pip's Cucina & Wine Bar will be a unique restaurant and bar, offering wine tasting and moderately priced menu items. This resort casino is a great addition to Aliante and North Las Vegas, with its blend of adult and family entertainment and dining choices. It was interesting to note when the North Las Vegas City Council held hearings for North Las Vegas residents, almost all were in favor of this new property, as compared to some of the fierce opposition to casinos and resorts being built in other Las Vegas communities. Aliante Station is sure to be a real success.

If you would like information about this property, or the surrounding homes and amenities of Aliante, contact Las Vegas Properties at 1-888-876-8383 or email terrilvp@cox.net.

TPC PGA Tour Summerlin

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Last weekend Summerlin and Las Vegas hosted the Justin Timberlake Shriners Hospital for Children Open, formerly knows as the Las Vegas Invitational. We are all proud of the community's contribution to this great organization.

Summerlin's first golf course, TPC Summerlin, is the first PGA TOUR Tournament Players Club stadium golf course in Nevada. Opened in 1991, this 18-hole, private championship course was designed by golf course architect Bobby Weed, with play consultant Fuzzy Zoeller. Tiger Woods had his first professional win at the Las Vegas Invitational in 1996.

SUMMERLIN GOLF COURSES

The popular master planned community of Summerlin is home to nine golf courses, including Nevada's only two PGa Tour Tournament Players Club (TPC) courses. Six of Summerlin's villages are designed around golf courses, including The Hills South, The Canyons, The Ridges, Sun City, Red Rock Country and Siena. The golf courses were part of the design of Summerlin to add recreational interest and picturesque settings for its residents. I have sold many homes to buyers in Summerlin who love golf, or who enjoy the unobstructed views of surrounding mountain ranges and the Las Vegas "strip."

The second and only other Nevada TPC stadium golf course is TPC Las Vegas, formerly TPC Canyons, also located in Summerlin. This daily-fee course opened in 1996 and was designed by Bobby Weed, with consultant Raymond Floyd.

Summerlin's other popular golf courses are Bear's Best, located in The Ridges, high above the Las Vegas valley, designed by Jack Nicklaus. Red Rock Country Club, a private country club in Summerlin, was designed by Arnold Palmer. Both courses are surrounded by beautiful semi-custom and custom homes priced from the high $600,000's to several millions.

Sun City Summerlin offers its residents a choice of 3 public golf courses, while Siena features one very popular public golf course Sun City Summerlin and Siena are age-qualified communities in Summerlin.

Whether you are an avid golfer, or a looking for a home with beautiful views and open spaces, Summerlin is one of the top choices in Las Vegas. Las Vegas Homes and Condos can provide you with current inventory, pricing and details of amenities offered at every golf course and country club community. Please call us today at 1-888-876-8383 or email terrilvp@cox.net.

Las Vegas will be home to the new Jack Nicklaus Academy of Golf. DragonRidge Country at MacDonald Highlands is the site for this exciting new golf academy. Scheduled to open in spring 2009, the Nicklaus Academy is the leading golf instruction academy in the world. This is really exciting news for the both residents and visitors!

MacDonald Highlands has recently opened its newest custom homesite community for sales. This beautiful community overlooks the McCullough mountain range, high above the valley in Henderson, Nevada. Just minutes from McCarran International Airport, the community is close to the nightlife and excitement of Las Vegas. These beautiful homesites provide a secluded lifestyle surrounding the DragonRidge Country Club, with beautiful views of the Las Vegas strip. The club offers a spectacular golf course, two dining rooms, cocktail lounge, grand ballroom and luxurious spa and fitness center. Residents will also enjoy ten acres of parks that include tennis, volleyball and basketball counrts, as well as beautiful hiking trails. Homesites start in the $700,000's.

Las Vegas and Henderson Golf Course Homes

Las Vegas is home to some of the most beautiful golf courses in the southwest. Whether you are looking for a Country Club home, golf course home or home near a public golf course, there are several choices in Las Vegas, Henderson and North Las Vegas. Among the golf course communities are Summerlin, Southern Highlands, Anthem, Aliante, Lake Las Vegas, to name just a few.

If you would like to learn of availability, current pricing and the details of amenities and community features, call us at Las Vegas Properties - 1-888-876-8383 or email terrilvp@cox.net.

North Las Vegas Announces New Projects

The City of North Las Vegas has announced several new projects in its effort to continue growing. North Las Vegas has been popular for its residential development, such as the master planned community of Aliante and the community of Eldorado. These newest plans involve commercial and industrial development that will add to the city's popularity. Aliante Station, the newest resort casino is due to open next month, and will employ more than 1,000.

Downtown Redevelopment Plans

The North Las Vegas downtown redevelopment plan has achieved real progress this year. The city spent $16 million for 12 acres for the new City Hall, while the Silver Nugget Casino serves ad the "showplace" of the city's downtown redevelopment plans. The Silver Nugget will add a 200-room hotel, movie theatres, upgraded gaming floor and restaurants, all designed to cater to local residents. The city will also start on the Fifth Street Corridor, which will improve traffic flow and bring more people to the downtown area of the city. Plans are under way for the Las Flores shopping center, which will include 350,000 square feet of retail space. According to Mijewski, North Las Vegas economic development director, said that private developers have shown plans for at least $1 billion in new projects for downtown North Las Vegas, which is very exciting to all of us in the Las Vegas valley.

New VA Hospital

The new Veterans Affairs Medical Center will be built in North Las Vegas; plans include 90 acute-care hospital beds, 120 long-term nursing beds and an adjacent Veterans Benefits Administration building. The center will also include beds for veterans in need of physical rehabilitation, or who suffer from other conditions. The goal of this VA Medical Center is to bring together several treatment regimens and administrative support, improving overall patient care. A federal advisory commission reported in 2004 was instrumental in the decision to build a new VA medical facility in North Las Vegas, so that VA patients can receive quality care in Nevada, as rather than going to California for care. The location of this new facility was arranged by a no-cost land transfer from the federal Bureau of Land Management.

North Las Vegas Industrial Park

Apex is a master planned industrial park that will create new jobs and business opportunities in North Las Vegas. Apex will be a 20,000-acre master planned area that is starting with Industrial Properties Development's industrial building of 475,000 sqauare feet. The developer anticipates a total of 10 phases, totaling 20 million square feet of industrial space. Apex is also trying to become a Foreigh Trade Zone, with the help of the Nevada Development Authority and Nevada International Trade Corp. This designation would allow park tenants to receive raw materials without customs or duty fees until distributed. This is a great benefit to distribution companies and will draw many companies to reloate to North Las Vegas.

If you are interested in the details of any of these projects, or are looking for commercial or residential properties in North Las Vegas, contact Las Vegas Properties at 1-888-876-8383 or email terrilvp@cox.net. Las Vegas Properties is a proud member of the North Las Vegas Chamber of Commerce!