Las Vegas and Henderson Homes and Real Estate

The Greater Las Vegas Association of Realtors has recently reported the first year-over-year increase in home prices since 2007, which was the peak of the real estate boom in Las Vegas.

Rick Shelton, president of the GLVAR stated that the median price of single family home in Las Vegas was $142,000 in April, a 4.4 percent increase from March 2010 ($136,000) and a .2 percent increase over April of last year ($141,720).

Shelton said that the last time the GLVAR was able to report a year over year price increase was February of 2007, when the median price of a home was $310,000.  April's median sales price was also the highest average monthly price since April of 2009.

Short sales are continuing to rise as a percentage of local sales, up to 27% in April as opposed to 22% in February of this year.  At the same time, bank owned homes (foreclosures) are dropping each month down almost 10% this year and down to 43% of all transactions.  This is due to government programs encouraging banks to accept short sales over foreclosures to keep the housing market more stable.

The total number of single family homes sold in April was 2,951, a high rate that continues each month and should continue to rapidly bring recovery in this market.

Source:  GLVAR

If you are interested in Las Vegas, Henderson, Green Valley, North Las Vegas, Summerlin, Seven Hills, Lake Las Vegas, or Southern Highlands real estate, contact:

Michelle Natale
The Natale Team
Prudential Americana Group

www.natalesellsvegas.com

Michelle Natale leads a top 25 ranked team of agents for Las Vegas based Prudential Americana Group, the largest real estate brokerage in the state of Nevada. Michelle started her career in real estate over 10 years ago, and is ranked in the top 1% nationally in Prudentials national network since 2000.

The S&P / Case-Shiller Home Price Indices for January 2010 were release today, and the report showed that both the 10 and the 20 city Price Index have increased for the 8th consecutive month in a row.  This has not happened since the spring of 2006, which was four years ago.  Additionally, both indexes have reach their highest level in 12 months.

Based on this data, and by analysis from Professor Mark J. Perry on Benzinga.com, nationwide, "home sales bottomed in January 2009, and have been on an upward trend for the last 12 months. The Case-Shiller Composite Home Price Indexes both reached a bottom in May 2009, and have now increased for eight straight months."

Here in Las Vegas, although our home prices have yet to show signs of increasing, month-to-month home sales are as high as they have ever been, and our inventory of available homes has dropped each month.  This means that each month we are absorbing more and more of the distressed homes in the market, and should soon join the nation with a housing recovery.

Below is the chart released by the S&P / Case-Shiller Home Price Indices today.

If you are interested in Henderson, Green Valley Ranch, MacDonald Highlands, North Las Vegas, or Summerlin Real Estate, contact us today!

Michelle Natale
Natale Team
Prudential Americana Group

www.natalesellsvegas.com

Address: 6480 W. Oquendo Rd
City: Las Vegas
ZIP: 89118

Beds: 4
Baths: 4-Full: 1-Half
Sq.Ft.: 4,577

Now Priced at a Low $450,000!!

This incredible 4 bedroom, 4 bathroom, two story luxury home has now been reduced to under $100 / square foot, making it compared to the price of a distressed property.  Located convienently just north of the 215 beltway in South Western Las Vegas, this home boasts over 4,500 square feet and several desirable features including:

Full Property Fencing, Grand Entrance, Beautiful Dining Room, Tile Roof, Balcony, Pool, 3 Car Garage, Laundry Room, Tile Floors, Stucco Exterior, Washing Machine, Range / Stove / Oven, Microwave, Dryer, Dishwasher

Please call Michelle Natale for more information about this exciting home or other Las Vegas, North Las Vegas, and Henderson real estate information.

Michelle Natale
Prudential Americana
702-491-4937

www.natalesellsvegas.com

According to a recent article in by Emily Brandon with the US News and World Report, there are ten specific tips that you should consider when choosing your retirement location.  Las Vegas and Henderson have become a strong retirement mecca in the Southwest, and it is easy to see why.

Here are each of the tips Emily recommends a buyer should consider, and why Vegas meets those requirements.

1.  Cost of Living:  Las Vegas has historically had one of the lowest cost of living rates in the nation compared to its size due to the amount of available property, the low tax structure, and the lack of social welfare requirements to it citizens.  Although the recent boom years did change all of that for a while, over the past 18 months we have seen the cost of living drop way back down to historic levels.

2.  Low Tax Locales:  Nevada is one of the lowest taxed states in the United States.  According to data found on retirementliving.com, from the Tax Foundation's Special Report No.163 published in August 2008, which shows the state and local tax burden for each state, Nevada ranks 49th overall, second only to Alaska as the lowest burdended state overall.

3.  Health Care Facilities:  Las Vegas is home to several quality hospitals including such notables as Sunrise Hospital and Medical Center and the St. Rose Dominican Network.  Both are ranked as among America's Best Hospitals by the US News and World Report.

4.  Proximity to Family:  Las Vegas has been developing as a logistics hub for several large organizations due to its proximity to several large cities in the Southwest.  Additionally, Las Vegas's McCarran International Airport is ranked as one of the countries best run.  Both make Las Vegas a highly accessible city.

5.  Job Opportunities:  Ok, so this isn't the best right now, but you are retiring remember?

6.  Recreation and Culture:  Five words:  "Entertainment Capital of the World"

7.  Public Transportation: The local bus system is very solid, and so is The Strip transportation.

8.  Housing Needs:  This pertains to the availability and diversity of homes on the market.  Coming out of the recent boom, there are is a wide variety of available homes here in Las Vegas, ranging from new golf front condo's such as Mira Villa, Summerlin, to resale opportunities such notable Del Webb communities as Anthem in Henderson and SunCity Summerlin.

9.  Weather:  Las Vegas is a notorious "snowbird" haven bosting some of the best desert weather in the Southwest.  Why?  There are an average of 310 sunny days per years here.

10.  Amenities:  Five words: "Entertainment Capital of the World"

If you are interested in Las Vegas, Henderson, Green Valley, North Las Vegas, Summerlin, Seven Hills, Lake Las Vegas, or Southern Highlands real estate, contact:

Michelle Natale
The Natale Team
Prudential Americana Group

www.natalesellsvegas.com

Michelle Natale leads a top 25 ranked team of agents for Las Vegas based Prudential Americana Group, the largest real estate brokerage in the state of Nevada. Michelle started her career in real estate over 10 years ago, and is ranked in the top 1% nationally in Prudentials national network since 2000.

This beautiful home in Green Valley Ranch in Henderson (Las Vegas) is listed at unbelievable $95 / square foot.  This is not just any property.  Green Valley Ranch is one of the most desired neighborhoods in Las Vegas.

Address: 317 MODESTO ST
City: HENDERSON
ZIP: 89014
County: CLARK

Beds: 5
Baths: 2-Full : 1-3Qtr
Sq.Ft.: 2826
Property Type: Single Family

Subdivision: GREEN VALLEY
Year Built: 1993

Property Features: Reserved Parking, Public Sewer Service, Fence, Covered Parking, Carpet Flooring, 2 Stories, Family Room, Dining Room, Living Room, Spa/Hot Tub, Tile Roof, Pool, Below Ground Pool, Attached Parking, 3 Space Garage, Laundry Room, Gas Heating, Fireplace, Gas Fireplace, Family Room Fireplace, Stucco Exterior, Range/Stove/Oven, Microwave, Garbage Disposal, Dishwasher, Air Conditioning, Central Air

If you are interested in Las Vegas, Henderson, Summerlin, Green Valley Ranch, Lake Las Vegas, North Las Vegas, Southern Highlands, or Seven Hills Real Estate, Contact:

Michelle Natale
The Natale Team
Prudential Americana Group

www.natalesellsvegas.com