About Las Vegas' Macdonald Ranch

Las Vegas Real Estate Inventory is seeing an unusually large amount of units closed for fall. August almost broke records! Active listings are down again for the 11th month in a row! 2011 proves to be an interesting year for Las Vegas Real Estate!

Las Vegas Area Market Activity (Includes North Las Vegas, Henderson and Las Vegas)

• Listings (12/15/2011): 11239
• Under Contract (12/15/2011): 12905
• Sold November 2011: 3784

Short Sales:

• 47% of Listings
• 27% of Sales

REO (Foreclosures, Bank Owned:)

• 20% of Listings
• 48% of Sales

In One Month: Listings are DOWN -302 units, Contracted Listings DOWN -109 units, Sales are DOWN -79 units. Close ratios are going lower because much of the pending inventory is short sales which requires LONGER close times.

DOWN PAYMENT ASSISTANCE HAS NOT ENDED FOR FIRST TIME BUYERS, HOWEVER!!

Last Month's Pending Report

For Most Current Las Vegas Real Estate Inventory Market Report Click Here.

What Areas Do You Cover for your Las Vegas Area Real Estate Market Reports?

General Las Vegas Area Real Estate Market Reports are for MLS Areas 101-606 (the average consumer probably asks, what’s that?) It means that I cover the cities of Las Vegas, Henderson, North Las Vegas including unincorporated Clark County Townships of Whitney, Paradise, Winchester, Enterprise, Sunrise Manor & Spring Valley. They do NOT cover the areas of Boulder City, Pahrump, Laughlin, Moapa or Mesquite.

View More FAQ About My Las Vegas Area Real Estate Market Reports.

When a consumer fills out a mortgage application to purchase a home, or do a refinance, it means that obtaining his credit report will follow. It's part of the process and readily accepted. Something else may also happen, though, that can cause bewilderment in the home loan applicant, maybe even anger of various decibels.

This action actually permits credit bureaus - Equifax, Experian, Innovis and TransUnion - to peddle the mortgage borrower's information to third party vendors, among which can be other home loan providers. The phone at the consumer's pad can start ringing with unwanted solicitations that probably were not penciled in on his calendar. If so, the mortgage broker who took the original application likely will receive heated questions about it, giving his otherwise ordinary day a new twist. Sometimes a brief, to-the-point explanation will suffice, sometimes the matter will spiral in a new, unwanted direction from which recovery can take time.

The applicant can avoid this with a couple of quick moves, often advised so by his practical mortgage lending professional. Registering in the Do Not Call list will do it. https://www.donotcall.gov/. To get even more protection against this questionable practice he could also enter his name in the Opt Out Prescreen register that will prevent for five years, or even permanently, the credit bureaus from selling his data further on. https://www.optoutprescreen.com/.

Who said that staying one step ahead of these practices can't be done?

The drama is over for Las Vegas valley's - including Summerlin, Southern Highlands, Green Valley, North Las Vegas, Anthem and Mountain's Edge - residents. The first-time home buyer tax credit has been extended because many considered it a strong demand booster for the ailing housing market and more of the same is needed at least for the time being. In fact, it was expanded to include the move-up buyer as well, a factor that should further power the demand side. Let's look at a few of the more appealing aspects a move-up buyer can enjoy with the up to $6,500 tax credit.

The contract deadline is April 30, 2010, preferably with the mortgage already approved and ready to go, and closing needs to happen by June 30. That's the time line.

The move-up, or repeat, buyer is one who has owned and lived in the same property five consecutive years of eight years before the purchase date. He can buy a home that is less expensive than the existing one.

Single taxpayer income limit is set at $125,000 and married taxpayers filing jointly are at $225,000.

The new home has to be the buyer's primary residence. The legislation says nothing about the old home, so it can become a rental or a second home. Selling it now for a reasonable price in Las Vegas would probably be tough, therefore hanging onto it for a spell would make sense. The new house's price ceiling is pegged at $800,000.

Just about any type of a home will qualify. Existing and new construction single-family houses, condominiums, townhouses, manufactured and mobile homes and even boats that are used as principal residences. Investment property and vacation homes are out of luck here.

These are the highlights of the program and may bring Las Vegas homeowners something they can work with. Especially useful can be the provision that the old home does not have to be sold to qualify for the tax credit. An excellent website that will offer further details can be accessed here: http://www.federalhousingtaxcredit.com/

Here's another episode of my travels through the many communities in the Las Vegas Valley. This time it's MacDonald Ranch, one of the 4 Del Webb Sun City Active Adult neighborhoods. It's located in Henderson, just to the south of Green Valley Ranch and offers convenient access to shopping and the 215 beltway. Being on the foothills of Black Mountain there are some incredible views and spectacular sunsets found here.

The 2500+ home age restricted community allows for use of golf carts as transportation throughout. It's wrapped around the Desert Willows Golf Course that spans either side of Horizon Ridge with a private tunnel underneath the roadway. The award winning Billy Casper - Greg Nash signature 18 hole course is a par 60 at 3800 yards. There is also a proshop on site and catering services available for events.

The Desert Willow Clubhouse offers an array of choices for residents, including Pool and Spa, Fitness Room, Billiards Room, Fireplace / Reading area, and Tennis and Bocce Courts. There is also a computer lab, ceramics, crafts, and card rooms, and activities and classes available. The Desert Willows Restaurant is part of the Clubhouse with views of the course, and there are additional banquet and meeting facilities available. The meeting rooms are sometimes used for live entertainment and speakers that have included former President Bill Clinton.

There are different social events held through the community. Organized bus trips can be anywhere from local to longer distance to explore the unique offering found around Las Vegas. Wine Tastings in Pahrump, Holiday Festivals or tours of Scenic Southern Utah, and Day Trips to Laughlin NV along the Colorado River are just a few of the many that have been offered.

I hope you enjoy your photo tour of Sun City MacDonald Ranch. To see the slideshow full screen, click the HD button on the bottom of the player, and when finished click it again to return to normal size. To see my other photo shows of communities and what can be found around Las Vegas, Click Here.

If you are interested in relocating to Las Vegas or would like information on Las Vegas real estate, please email me roberta@search4lasvegashomes.com or call me at 702-354-8988. I look forward to hearing from you!

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Recently there have been some major Israeli investors in the Las Vegas market. The most often heard mentioned is EL-AD Group with their purchase of the Frontier property on the Las Vegas Strip at a record price per acre, and it now being on hold until credit markets relax. There are others as well, including EL-AD's partner in the Plaza, Nochi Dankner's multi-billion dollar IDB Developments / Property and Building that is in for 50% of the estimated $8 billion project.

Dankner's investment in Las Vegas doesn't end there. They have recently refinanced and increased their stake in Queensridge in Summerlin, as well as the soon to be $850 million Tivoli Village mixed use project next door. The 700,000 square foot development will include retail and restaurant space, a 36,000 square foot 8 screen theater with reclining 'Lear jet style' seats, and 340 loft condo units similar to the District at Green Valley Ranch.

CLICK FOR LARGER IMAGE

Another major player in Las Vegas is Africa Israel. They are the majority partner in the group that acquired the former Las Rambles / W Hotel site on Harmon. They have already received approvals for a new resort project on the site and are currently working on consolidating the parcels and vacations and abandonment of streets to accommodate their planned layout of the new design.

So how are these investments, in this media portrayed 'horrible' Las Vegas market, being viewed from their homeland of Israel? Analyst Shai Lipman of Tel Aviv-based IBI Investment House was quoted as saying he is unmoved by the crisis reports of Las Vegas. With that in mind he's given Dankner's Property & Building and Africa Israel Properties a buy rating. He also said that the planning for the Plaza project will be complete in 8 - 10 months, and the financial markets will be clearer by then. Strangely enough, the Plaza and Queensridge loans have been extended until next May.

I also was enlightened to an interesting interview of Segi Eitan, the CEO of Property and Building, in Israel's Hareetz. Some of the interesting highlights was the very favorable 6.3% interest rate they received for extending the Plaza loan, and she states it's affirming Goldman Sachs and Credit Suisse potential in the project. When asked if there were regrets on being in the Las Vegas market during this downturn, she replied "If you want to make money in life, you have to take risks. "There's no such thing as reward without risk. Looking backward is no great trick. I remain optimistic about the success of this project." In response to slowdowns in the luxury condo market that includes their Queensridge, she states that they aren't compromising in pricing because..."These are some of the best luxury apartments constructed in the city. When the storm passes, the apartments will go at the speed of a missile launch."

It would appear that in spite of all the gloom and doom heard from the media, there are those that still see the potential in Las Vegas' future and continue to invest in it, even from half a world away.

If you are interested in relocating to Las Vegas or would like information on Las Vegas real estate, please email me roberta@search4lasvegashomes.com or call me at 702-354-8988. I look forward to hearing from you!

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