Las Vegas and Henderson Homes and Real Estate

Prudential Real Estate and Relocation Services, Inc., a Prudential Financial, Inc. company, one of the largest networks of real estate brokers in the U.S, announced in its annual convention today that it will be launching the first research and development laboratory to support its network of over 1,700 offices across the country.

Prudential, which also boasts over 60,000 sales professionals nationwide, will be releasing a number of new sales tools to help its agents. 

"We have taken significant steps to strengthen our support for 1,700 Prudential Real Estate Network offices across the country and their 60,000 sales professionals, including enhancing our technology platform for high-definition video, photo and mobile applications," said James Mallozzi, chairman and chief executive officer for Prudential Real Estate and Relocation Services (PRERS). "Underscoring our commitment to helping differentiate our offerings, we are pleased to launch the Prudential Real Estate Collaborative Innovation Partnership to leverage new technologies and enhance the real estate buyers' experience."

Source:  BUSINESS WIRE

The R&D laboratory will be working with such technology providers as Immersive Design Studios, Montreal-based virtual world developer, to provide digital technologies such as inchanced home tour capabilities.

Today's news is exciting for all agents in the Prudential network, including those of us here in Las Vegas at Prudential Americana Group - the leading brokerage in the State of Nevada.

The Natale Team of Prudential Americana will proudly implement any new technologies that may come to better suit our clients needs.  If you are interested in Las Vegas, Henderson, Green Valley, Seven Hills, Southern Highlands, or North Las Vegas real estate, please contact us today!

Priced to sell, this single family home is conveniently located near Mt. Charleston recreation area.  For those who are looking for quick access to some of the finest outdoor parks in the region as well as the Ski Las Vegas resort, this home is a steal.

Priced at an unheard of $95 per square foot, this home is brand new built in 2010!

Property features include:  Pantry, Cable TV, Public Sewer Service, Fence, Single Zoning, water: PUBLIC, Carpet Flooring, 2 Stories, Family Room, Dining Room, Living Room, Tile Roof, Attached Parking, 2 Space Garage, Laundry, Gas Heating, Stucco Exterior, Range/Stove/Oven, Microwave, Garbage Disposal, Dishwasher, Community Pool, Air Conditioning, Central Air

Address: 10632 MOUNT JEFFERSON AV
City: LAS VEGAS
ZIP: 89166
County: CLARK

Beds: 4
Baths: 2-Full : 1-Half
Sq.Ft.: 2004

If you are interested in North West Las Vegas, Summerlin, Green Valley Ranch, Seven Hills, or Henderson Real Estate, contact:

Michelle Natale
Prudential Americana Group

Tel: 702-491-4937 Fax: 702-315-7866
Office: 871 Coronado Center Dr Suite 100
Henderson, NV 89052

According to Brian Wesbury, chief economist at First Trust Advisors, the United States is set up for a housing shortage in 2011, we homebuilders don't increase homebuilding starts in 2010.  Wesbury reports that 1,500,000 homes are needed to be built each year just to keep up with the population.  An additional 100,000 homes are needed to be built to make up for homes that are destroyed or retired in the course of a year nationwide.  That means that builders need to build 1,600,000 homes each year to keep up with growth. 

"Right now, were down to about six and a half, seven months inventory whether you look at new homes or existing homes," Wesbury claims in an interview with Steve Forbes on msnmoney.com.

Wesbury estimates that we are only building around 1/3 of the homes per year that are required to keep up with population growth, going back to 2007.  The rate of growth more than compensates with foreclosed homes coming to market in several key markets such as Las Vegas, Phoenix, and Miami.

It appears based on Wesbury's math, that they lack of homebuilding over the past few years in cities such as Las Vegas has finally allowed for the inventory to be absorbed to more normal levels, and meaning that building should resume in Henderson, Summerlin and the Southwest sometime this year.

For more information about Brian's interview with Steve Forbes, view the MSN Article Here.

Posted By:

Danielle Mynatt
The Natale Team
Prudential Americana

www.daniellemynatt.com
702.498.1418

This beautiful single family home is located in North West Las Vegas near the community of Centennial Park.  Located within the Providence subdivision, this home features a beautiful central community pool and fitness facility. 

This single level property features 3 bedrooms and a Great Room, Dining Room, and Living Room.

Features include:  Enclosed patio, range/stove/oven, dishwasher, central air, attached parking, gas heating, microwave, fence, carpet flooring, tile roof, 2 space garage, stucco exterior, garbage disposal and public sewer services.

Property Summary:

Address: 10428 BUSH MOUNTAIN AV
City: LAS VEGAS
ZIP: 89166
County: CLARK

Beds: 3
Baths: 2-Full : 1-Half
Sq.Ft.: 1871

Priced to sell, this home is listed at an unbelievable $108 / square foot!

Posted By:

Sandi Oberling
The Natale Team
Prudential Americana

www.sandioberling.com
702.334.6904

Homebuyers are finding it increasingly difficult to purchase foreclosured properties in Las Vegas a recent article in the Wall Street Journal reports.

"Last summer you could make good margins," said Mr. Premsrirut. At so-called trustee sales of homes in foreclosure cases, he could win with bids at around 70% of the estimated market value. Now, he says, with more bidders, homes are likely to go for 85% to 90% of resale value. After accounting for real-estate commissions, repairs and other costs, that leaves little margin for error.  (Source Wall Street Journal)

This is no suprise to many local real estate agents who have been frustrated with helping clients to buy either a primary or investment home over the past year or more.  The lack of foreclosure inventory that has come to market, along with the surging number investors both nationally and internationally, has made Las Vegas a very difficult market to compete.

Many also wonder if the so called "shadow inventory" of foreclosures will ever materialize, considering that these properties should have already been brought to market given the current shortage. 

The relative short supply of foreclosures and bidding frenzy have created a very positive side effect for homebuyers in this market.  It is now perhaps a better deal to purchase aggressively priced non-foreclosure homes.  These properties in contract to the bank owned homes typically are kept in better shape and require less maintenance prior to move in.  Even if you get a foreclosed home for 10% below market value, most often that difference is swallowed up by the cost of cleaning and fixing the home from the abuse of departing tenants.

The key thing to remember when buying real estate today:  Foreclosures and Short-Sales Are Not the Best Deals in Las Vegas today!

Posted By:

Joseph Radosta
The Natale Team
Prudential Americana

www.noplacelikehome.las.mlxchange.com
Cell: 702.845.9862