Mesquite, NV

Mesquite Nevada Real Estate Market Still on Life Support

If the Mesquite, Nevada real estate market were a patient in the hospital, it is still in ICU. The market remains on life support, plagued by high vacancy, defaults, foreclosures, existing, and new home supply. Builders continue to put downward price pressure on existing home sales with lower pricing and incentives.

Then there is the shadow inventory. The picture is clouded by the bank owned REO properties as the banks fumble with unrealized losses, those toxic assets. Clearing of this segment of the market will be a pivotal point, but it remains unclear as to how many are out there and at what price will they be liquidated. As the banks push these properties into the market prices continue to fall.

The main support in the market is coming from your tax dollars in the form of first time home buyers tax credit, and high loan to value government backed loans. Cash buyers and investors are nibbling around the edges, but remain tight fisted and cautious.

The next few quarters will bring more competitive pressure to the market from banks, builders, distressed sellers, and short sales. Prices should get even better for buyers willing to be patient.

Recovery will be hampered by new tighter lending regulations being developed and implemented at this time. It appears excessive leverage of debt will not be allowed.

Clearly there has been a shift within the consumers and the world as to how they view leverage and debt. Affordability will be high on the radar screen of all.

Remember the market cheer leaders have their own motives and agenda.

Buyer beware continues to be the smart buyers maxim.

Chris W. Miller

ERA Brokers Consolidated

Mesquite NV 89027

702- 346-7200

435-862-5951

Mesquite Market

chris@mesquitemarket.com

Lincoln County Land Market

Nevada Ranch Properties

Santa Theresa Estates has just opened in Mesquite Nevada - an exciting new homes subdivision with 60 New Single Family Attached homes and 34 Single Family Homes for sale - all homes will have 2 car and fully fenced backyards with room for a pool - and some of the lots will have room for RV parking.

Front yard desert landscaping is included which will be maintained by the Santa Theresa Estates Homeowner Association with low HOA fees. Several common areas will be within the community for residents' enjoyment, including a dog walking area.

Santa Theresa Estates Standard Exterior Features:

• 2 Car Garage
  
• "Almond" 16x7 Garage Door with 2 Openers
• Two Tone Synthetic Finish with Stone Features
• Front and Side Yard Low Maintenance Landscaping
• Tile Roofs
• R-13 Value Insulation in walls
• R-30 Value Insulation in attic
• R-19 Value Insulation in garage attic
• 2x4 Walls with 8' Plate
• Grey Broom Finish Concrete
• Stucco Soffit and Fascia

Santa Theresa Estates are designed with an open floorplan with no wasted space and a great design for entertaining in the great rooms. It is very unusual to get a fenced back yard in a Mesquite new home - not just a postage stamp-sized yard, these are big enough for a pool and a spa - with views of the mountain tops. Prices start from $162,500 for the townhome with 2 Car garage with many plans and choices under 200K.

Santa Theresa Estates Standard Interior Features

• Almond color Vinyl Windows
• Tile Floors in Kitchen
• 2 Tone Paint
• Ceiling Fans
• Decor style switches
• Maple Sash Kitchen Cabinets
• Cast Iron Drop-In Sink
• Moen Chrome Fixture in Kitchen
• Cultured Marble Vanity in Baths
• Walk in Closet in Master

Call me for a tour of Santa Teresa new homes for sale in Mesquite NV with low HOA fees

This is an update to two previous blogs that I posted about the Desert Falls International Sports Resort here in Mesquite, Nevada. It has been confirmed by the Mesquite Economic Development Director Bryan Dangerfield that the Desert Falls International Sports Resort, LLC has indeed delivered the 5% down payment to the City of Mesquite by August 26th as they were required to do per the agreement between the city and the Desert Falls organization. The down payment of approximately $316,000.00 to purchase the 864 acres of land was actually delivered a day early to the city.

Ground breaking will probably not start until the somewhere around the new year, however, it is still unclear whether or not construction can start until the land is completely paid for or not. If so, the Desert Falls organization will need to come up with another 10 million dollars, approximately. Desert Falls is scheduled to have Phase One of the project completed by November, 2011 at a cost of 100 million dollars.

The total cost of the resort will be around 500 million dollars when completed. Stay tuned and I will keep you up to date on the project as soon as the updates come in. Remember you can click on the links above to take you to the City of Mesquite's website and the Desert Falls information posted by the city.

Torres Ramey

702-371-2785

E Mail: tramey@rconnects.com

550 W. Pioneer Blvd. Ste. 100

Mesquite, Nevada 89027

Mesquite NV luxury homes are expected to have at least one amazing view - this custom home in Calais gated community was designed to showcase the views of Falcon Ridge Golfcourse and so much more ....

Mesquite Nevada Luxury Homes ~ Calais Gated Golfcourse Community