Brad Emens' South Valley Reader: April 2006

Did You Know?
According to Clark County’s July 1st, 2005 Population Estimates there are 1,752,240 people in the greater Las Vegas Urban Area. This includes Boulder City, Henderson, Las Vegas, Mesquite, and North Las Vegas.

“What ever happened to Urban Village?” Picture is only a simulation
On March 3rd, 2006, I, Brad Emens REALTOR, called the Urban Village sales office. The sales office is located across the street from The South Coast Casino on the northeast corner of Silverado Ranch Boulevard at Las Vegas Boulevard. I spoke to an administrator for Urban Village, Sondra Moncado. I asked her, “Where did the Urban Village sign go?”
Moncado said, “They took the sign down because they are going to be a little bit different.” It then occurred to me, the project has a new owner. I inquired further and she told me, “The property was purchased by Centex a few months ago and they will be developing it (Urban Village).” Centex Corporation, a Dallas based, interstate home developer, has been building homes for more than fifty years. She then told me, “This development (Urban Village) will be a reality.”
A December 5, 2005 article in the Las Vegas Review Journal said, “The home builder (Centex) plans to follow through with the $1 billion development of the village, which will have five neighborhoods with 2,400 brownstones, condominium homes, flats and live-work concepts.” The brownstones are mid-rise homes reminiscent of New York in areas like Long Island City and Chelsea heights
Urban Village will be another master planned community for the Las Vegas Valley. Urban Village will be a mixed-use development that has been designed to create a live-work-play environment complete with cobblestone streets and gas-lit walkways. This reminds me of the 16th century style streets in downtown Nuremberg, Germany. A sales event is scheduled for April and Centex has not released its sales information yet. I will let you know when I know more.

Capella, a Kimball Hill Homes Subdivision
This Kimball Hill Home’s subdivision Capella, located south of Canyons 3 where Erie Avenue will go soon through to Amigo Street.
On March 22nd, 2006, Eric Frederickson, a sales agent for Capella said, “It will have 159 homes…and the lots will be about 6,400 square feet.” All four of the plans come standard with a three-car garage.

The floor plans will be as follows:

Versailles II $410,990
A single story, 1,851 square foot home with 3 bedrooms and 2 bathrooms.

Canyons III $439,990
A, 2,093 sq ft, home with 3 bedrooms, 2 ½ bathrooms and a loft.

Horizon II $454,990
This, 2,468 sq ft, home has 3 bedrooms and 2 ½ bathrooms.

Dawson III $472,990
A, 2,834 sq ft, home with 4 bedrooms, 3 bathrooms and a loft.

Check them out online at:

http://www.kimballhillhomes.com/planselect.asp?PageID=10&State=LasVegas&Division=946&CommunityCode=384-1

There is only one single story model and the rest are two-story models. Prices are effective February 6, 2006 and are subject to change. If you would like to visit the sales office, please, let me, Brad Emens 702-808-3531, know and I will be glad to take you.

Sterling Gindin, Nu Look
Ladies and gentlemen, I want to tell you about an entrepreneur that I recently met. You may appreciate meeting him too. His name is Sterling Gindin and he owns Nu Look Carpet Cleaning service 702-914-5974. Yes, my house is almost brand new but I have carpet and three dogs. Their names are Sis, Hercules and Star Ling. “Ling Ling” is the female, hairless, Chinese Crested I adopted from Betty Honn’s Animal Adoption Agency. Check out www.southvalleyreader.blogspot.com November 2004 for more on her story.
I own a Royal Extractor so my carpets were not horrible but they needed a serious cleaning. Sterling Gindin, and his assistant, deeply cleaned my carpets and exceeded my expectation. Thank you, Sterling 702-914-5974. I greatly appreciate the professional job he did on my house. This is the way to set the standard.

What is a SID - Special Improvement District?
According to Clark County’s Department of Public Works website, “Through the Consolidated Local Improvement Law (Chapter 271 of the Nevada Revised Statutes), counties, cities, and towns are allowed to form Special Improvement Districts (SID) for the purpose of acquiring, improving, equipping, operating, and maintaining specific projects within the municipality. Projects include improvements such as street pavement, curbs and gutters, sidewalks, streetlights, driveways, sewer and water facilities, etc.”
The website goes on to say, “Local improvement districts are generally formed to provide a source of funding for the construction and, or, maintenance of eligible improvements within the district. These districts may be created by the Board of County Commissioners either at the request of property owners, or, when the Board determines that improvements are needed in a particular area.”
On March 14, 2006 I spoke to Christine Ray, an office specialist from Clark County’s Public Works. I asked her if she could tell me about the SID planned for our area. She said, “SID number 155 is still in preliminary stages.” She then told me that my house, located on the north side of Cactus Avenue between Bermuda Road and Amigo Street, “was not within the boundaries.” She continued, “You are not going to be in the SID because you already have sidewalks.” I then asked her if there is an overlay that I can look at and she said, “Not yet, because, like I said, it is still in preliminary stages.” When I find out more I will report back to you.

Brad Emens REALTOR 702-808-3531
SgtBrad@cox.net
www.BradEmens.com
www.SouthValleyReader.blogspot.com

Hello to all the readers of the South-Valley Reader
I would like to thank Brad Emens for allowing me to introduce myself to you. My name is Bradford Freeman. I handle the commercial transactions for Keller Williams Realty – Experience. I have been doing commercial real estate for over 10 years.
The commercial real estate market in Las Vegas continues to be a very strong market. Therefore, there is a lot of interest in starting a business, expanding current operations, or investing in the Las Vegas marketplace. There are plenty of opportunities for many types of commercial investments. From owning an office condominium to owning an office building; investors are taking advantage of opportunities. One of the hottest markets right now is in industrial warehouses. Currently, warehouses are approximately 97% occupied, and the trend is to increase the occupancy to almost 99% in the near future. Because of the conversion of existing warehouses to high-rise condos near the strip and increased desire of new companies to utilize Las Vegas as a distribution point, the forecast is that warehouses will be in high demand for the next 10 years before an equilibrium is attained. As a result of the demand for warehouses and the already high occupancy rate, landlords should expect to be able to increase rents throughout this time period while demands remain high.
Should you have any questions regarding commercial real estate in Las Vegas, or anywhere in Nevada, please feel free to contact me at the office or by phone. Our office is located at 7220 S. Bermuda Road and the phone number is 702-835-1800. Our fax number is 702-835-1899. Thanks again, and good fortune to all.

Should You Leverage Your Home orPay It Down Rapidly?
By Mark McGarry First United Mortgage
Direct: 702-612-5478 Fax: 702-921-2940

LAS VEGAS, NV – There is a great debate within the inner-mortgage circles these days. Should we, as loan professionals, encourage clients to borrow as much money as possible? Or would consumers benefit more if we helped them to understand the advantages of 15-year amortization schedules and pre-paying principal? Let's examine the pros and cons of both strategies.

Leveraging Your Property- In order to understand why you'd want to borrow as much as possible for your home purchase, you must first grasp the concept that equity has a zero rate of return. Here's an example: If Consumer "A" buys a home for $300,000, and puts 20% down, then they have $60,000 in equity. Over the next 5 years, the property appreciates $100,000 in value. Consumer "A" now has $160,000 in equity. Consumer "B" buys a home for $300,000, and puts no money down. At the end of 5 years, that same home is now worth $400,000. Consumer "B" has $100,000 in equity, which is the same appreciation as Consumer "A", a net of $100,000.

As you can see, your down payment has nothing to do with your rate of return. What becomes important is how you choose to manage the $60,000 you didn't use as a down payment. If you use it for frivolous activities, such as buying toys or going on vacation, it would be more prudent for you to use that money as a down payment. Especially since this will enable you to obtain a lower interest rate.

However, if you were to invest the $60,000 in a medium that can out-earn the cost of that debt, then this could be a formula for success. This is why some lending professionals suggest putting as little down as you possibly can, maximizing your tax write-off, and investing the rest. This principle has been applied for many years in the life insurance game. The old saying goes, "Buy term and invest the rest." The key component is taking the money you would have used as a down payment and creating an asset accumulation account. This account should earn a significant enough rate of return to enable you to pay your mortgage off entirely and achieve the ultimate goal of being debt-free.

Paying Your Home Down Rapidly- There are very few times over the course of my career that I have seen a client with zero debt and no financial difficulties. Choosing to pay off all of your debt can reduce stress and help you to gain freedom of cash flow for investment opportunities. A 15-year mortgage or a bi-weekly payment strategy provides structure. It can also put you on track to have your mortgage paid off within a set timeframe. Simply put, it contains built-in discipline. It's important, however, to understand that regardless of how rapidly you pay your home off, you're not getting any greater rate of return on your investment than if you paid it off slowly.

Brad Emens' South Valley Reader

Tuesday, April 25, 2006

Tuscany

Tuesday, April 11, 2006

March 2006

Brad Emens

Blog Archive

About Me

Neighborhood Visitors