About Las Vegas' The Arbors

The real estate market has been meandering along with little purpose for a long time, trying urgently to locate firm ground anywhere from which to launch something resembling a rebound. That it is in a position like this at all it can thank the government for. Despite what the FHA, Fannie Mae and Freddie Mac have done, the Fed has easily been the main dynamo supplying badly needed liquidity to the secondary mortgage market, where it has been actively buying MBS, or mortgage-backed securities. It quickly and prudently filled in the void left by the private investor when the housing sector dramatically nosedived.

The Fed months ago drew plans to exit the mortgage business, which really isn't its cup of tea anyway, and thus let the private sector return to handle it, as it should. The back stop was set at the end of March, 2010, a date right around the corner. The concern among many real estate observers was that home loan interest rates would start increasing as the deadline approached. Well, thus far it hasn't happened and that leaves the Fed especially hopeful. But once April rolls in, mortgage rates may begin moving higher. Some predict to 5.5%, some all the way to 6%. But that's just guessing.

Las Vegas mortgage borrowers beware of the potential shift

Southern Nevada housing market - with communities such as North Las Vegas, Henderson, Summerlin, Southern Highlands, Mesquite, Anthem and Spanish Trail - has been as big a beneficiary of Fed's mortgage market participation as any area in the country. Low rates have enabled first-time real estate buyers get pre-approved and bid on listings sporting price tags unheard of for over a decade. Indeed, so much so that the once infamous buyer's market in the lower end of the price scale in Las Vegas has turned into a robust seller's market. Without the Fed's generous hand this would've been just a distant dream.

But, the anticipated mortgage rate rise may throw a wrench into this scenario, to the detriment of Sin City's hoped-for housing recovery. It'd be more psychological than actual, though. Let's say the rates for 30-year fixed go from 5% to 5.5% in the next several months. On a $150,000 mortgage that would amount to only a $46.00 principal and interest hike. Nothing earth-shaking here. In any case, it would predictably slow things down as some prospects would choose to throw in the towel, at least temporarily.

The best news from the Fort - the Fed headquarters in Washington does in some ways resemble a fort - is that it'll closely monitor mortgage rate direction over the next several months and if need be, it'll resume buying MBS. The housing sector is key to an economic recovery that some say is about to take hold, so the Fed wants to be right on top of anything that might sidetrack it. If the private sector fails to show up in sufficient numbers, as it well might due to its own problems and the perceived unacceptable risk still clouding the U.S. housing market, the Fed will ride to the rescue flags fluttering.

photo by wjklos

Most people when shopping for a home relating to a sport it inevitably ends up being golf. Not that I have anything against the sport, other than I can't hit a golf ball to save my life. So it's no surprise that there are a lot of choices when it comes to golf course real estate. That's why the Arbors in Summerlin is such a rare treat for tennis afficiandos.

The Arbors is located closer to the surrounding mountains, giving it a higher elevation and consequently, great views of the city and mountains. The views are nice, but the big draw is the Arbors Tennis and Play park. It features five outdoor tennis courts, including a stadium court that are fully lighted. The park also has a tennis pro shop! The park also has a wonderful children's area called "Arborville" that has a toddler's tricycle track and lighted basketball court.

The community also has several other parks with sports fields, picnic areas and shaded seating areas, all linked together by the linear Arbors Paseo Park. It is also home to the 45,000 square foot Veterans Memorial Leisure Services and Community Center that has a fitness area, full court gym, play room, aerobics area, workspace and classrooms.

If you love to play tennis, you won't find another community in Las Vegas better suited to tennis afficiandos. For listings of the Arbors homes for sale or other Summerlin real estate, call 702-493-8033 or email me at info@lvrealty.net. - cr