89149 is located in North West Las Vegas, this area had one of the highest rate of commercial and residential real estate construction since 2002 which is still continuing. Residential properties are close to Centennial Shopping Center and other retail outlets. I-95 and I-215 facilitate the residents commute to other parts of the Greater Las Vegas Valley.
89149 is one the hardest hit areas with foreclosures. Foreclosed homes and short sales abound. Currently, over 500 resale single family homes are listed for sale in Las Vegas MLS for the zip code 89149.
Homes under 150,000 in 89149, N.W. Las Vegas
A quick search of Las Vegas MLS yields about 12 homes that are priced under $150,000. Six out of 12 are already under contract. It should be noted that all these resales are either foreclosed houses or short sale homes.
Most of these homes have been built on or after 2005 and the original sale price for many of these homes was in $230,000 range. The current asking price shows a 36% price drop since 2005. Most of these homes are zero lot or have a small lot, have 3 bedrooms and 2-2.5 bath. I don’t see much more price drop for these homes; $145,000 price range is being met with resistance as 6 out of 12 homes are under contract.
Homes priced $150,000-$200,000 in 89149, N.W. Las Vegas
There are 67 homes that are listed for sale for $150,000-$200,000 and by far the best deals are offered by foreclosures and short sales. Having said this, all short sales and foreclosures are not equal. There are 4 listings for Twilight Walk Avenue; one is corporate owned at $124 per square foot, one is a regular resale at $123 per square foot and two short sale homes priced at $209 and $205 per square foot respectively. Other homes in the area are priced $90-$125 per square foot. The prices have dropped by about 38%-45% since 2005 and bargains abound.
I will start a series of blog posts which are dedicated to single Las Vegas homes and condos in different zip codes and areas in Las Vegas, North Las Vegas, Henderson and unincorporated Clark County. Please note that Las Vegas real estate is dynamic and ever changing and keeping up with it requires constant research and vigilance.
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