My wife Karen and I decided to attend the Realtor preview grand opening of Woodbridge at Coronado Ranch. American West Sales had thrown a very nice party for Realtors and besides the model homes; the main attraction was Richard Lee, vice president of American Title in Las Vegas. He gave a great presentation which I will write about later.Woodbridge is a bit north of Blue Diamond Road and sits near Rainbow. American West has about 11 new homes projects in the Coronado Ranch and Highland Ranch Area. The new models are truly beautiful and very highly upgraded. The models consist of:
The Benjamin, 3536 square feet, 5 Bed rooms and a game room starting from $485,500
The Gabrielle, 3500 square feet, 6 Bed rooms optional den/study starting from $495,000
The Alexander, 3435 square feet, 4 Bed rooms, game room/library starting from $475,500
The Elizabeth, 4039 square feet, 4 bed room, study, Game room starting from $505,500
The Nathaniel, 4770 square feet, 5 bed room, Game room 3 story with elevator, starting from $565,500
In my opinion new home builders in Las Vegas went through a period of building what I call boxy houses. When Las Vegas real estate caught fire, builders couldn’t build homes fast enough to keep up with demand, so they built flat floors and surrounded it with flat walls, as the buyers couldn’t care less at the time. My home is a boxy house.
Presently the same doesn’t apply and builders are starting back to building houses with character, at least that is what I call them. Las Vegas new home builders are building homes with a sunken living room, split level floors, better upgrades, etc.
I was surprised at the fact that American West decided to build three out of five models in 3400-3550, although these models look completely different, having three models of about the same square footage surprised me.
I got a huge kick out of the elevator in the Nathaniel and thought it was a great selling point for those who don’t care about claiming two set of stairs to get from the first floor to the third.
However this is a testament that high density residential real estate has arrived in Las Vegas as it is much cheaper to build a tri level house and put an elevator in it than to build the same home on two floors. As the building foot print for a two story home will consume more of the lot and it is much cheaper to build vertically rather than horizontally.
Even though residential land prices have dropped in Las Vegas and will keep dropping for a while, the days of cheap land prices and large lots in Las Vegas are over.
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