Las Vegas Real Estate Agent, Las Vegas Homes, Condos, Land, Commercial Real Estate and Personal Blog

This weekend Karen and I were showing homes in Henderson, Green Valley and South Las Vegas that are priced at $250,000-$375,000 to two professional and successful ladies from Long Beach, California. Californians are the only people that believe they are moving down, when they move to Las Vegas, everyone else is happy to move here.

Many of these Southern California home buyers prefer more mature and green areas like Seven Hills, Anthem Country Club, Green Valley, Summerlin or golf communities like Rhode’s Ranch, Tuscany or Summerlin Village and have the money to pay for the more expensive homes. An issue that comes up frequently with out of town buyers is that even if they have visited Las Vegas multiple times for vacation, all they see is the Strip (Las Vegas Boulevard) or downtown Las Vegas. These buyers are not familiar with pricing versus location in different areas so we take it upon ourselves to show them homes that we think match them criteria in different areas so they can see all their choices.

We looked at about 14 homes in Seven Hills, Anthem, Green Valley and Mission Hills in Henderson and I was surprised by the quality of homes that can be purchased for $250,000-$375,000 since I personally have not looked at homes for this price range in Henderson for a while. Homes that are selling for this price range had sold for about twice the asking prices 2-3 years ago.

A few notes about the homes that are available for sale in the areas that I mentioned.

1: This price range in Henderson is dominated by the short sales and then regular sales, foreclosures are hard to come by.

2: There is wide discrepancy between the sold prices or COMPS, (same model homes in the same subdivision) and the asking prices. To combat this we will look at the price per square foot for the COMPS before picking homes to show them. For example if the COMPS are $85-$100 per square foot and the asking price is at $140-$150 per square foot, then we look at the history of the home and see what happened. If the listing is a flip (bought and sold quickly for profit), then we don’t show it. One of the listings that we didn’t show was a flip that was bought at $130 per square foot and the asking price was $152 per square foot in a subdivision that the COMPS were at $90-$100.

While I am on the flipping subject, I am starting to see many flips that have gone wrong. These properties were purchased by investors that had no idea what they were doing and will be losing thousands of dollars if not tens of thousands of dollars on their blind speculation. These investors would have saved much trouble and heart ache by following the advice that I have provided in the Las Vegas homes, condos and commercial real estate web-site and this blog.

3: The action on Henderson homes that are priced at $250,000-$375,000 is not nearly as much as homes that are priced less than $200,000 and the more one goes up in the price, the less action on these homes.

More about homes in Henderson that we looked at in the next blog.

Unrelated note: I was floored when I learned that Mahatma GANDHI, one of the greatest generals of all time (as defined by Sun Tzu) and peace makers of the last century has not won a Nobel Peace prize, even though he was nominated four times. This is BULL and this organization should know better, as long as Mr. GANDHI is not given this prize, I give it no value. The Nobel Peace prize, in many instances has been given to candles, while ignoring the sun. Although the Noble Peace prize is not given posthumously, an exception should be made in this in order to correct an ERROR. So get used to this, I will have it at the end of each blog post.

NOBLE PEACE PRIZE FOR THE GREAT MAHATMA GANDHI