I will be attending Pima Medical Institute studying Respitory Therapy for 2 years. If there are any questions, please feel free to contact me. Thanks, Brad Emens
Monday, June 23, 2008
Thursday, January 10, 2008
Silverado Ranch Village
Future HOT SPOT: Ristorante E
The most recent addition to our community is Silverado Ranch Village. Located on the southeast corner of Silverado Ranch Boulevard at Bermuda Road (near 7-11 Gas Station), this commercial 
corner consists of several restaurants and retail businesses. Some stores include Dunkin’ Donuts Drive Thru, Silverado Family Dental, Great Clips, Mr. Mama’s Salads, and Fresh & Easy Neighborhood Market. Going in behind Citi Bank there will be a restaurant/lounge. This future hot spot will be called R.E. Tapas Kitchen and Lounge. ‘Tapas’ is the name for a wide variety of appetizers that may include a variety of salads, empanadas, fried calamari, chilled gazpacho and much more.
corner consists of several restaurants and retail businesses. Some stores include Dunkin’ Donuts Drive Thru, Silverado Family Dental, Great Clips, Mr. Mama’s Salads, and Fresh & Easy Neighborhood Market. Going in behind Citi Bank there will be a restaurant/lounge. This future hot spot will be called R.E. Tapas Kitchen and Lounge. ‘Tapas’ is the name for a wide variety of appetizers that may include a variety of salads, empanadas, fried calamari, chilled gazpacho and much more. On December 12, 2007, I spoke with Errol Le Blanc the chef and proprietor of Ristorante E also known as R.E. Tapas Kitchen and Lounge. Le Blanc told me, “This is where Italy meets Spain meets California cuisine.” He went on to say, “The menu will be seasonal…it’s not going to stay
the same.” This eating place/bar will be a true lounge with an area for live music, flat screen televisions with flash art media, couches, coffee tables, and an outdoor patio area. This establishment is located near the northwest corner of Silverado Ranch Village at 467 E. Silverado Ranch Boulevard. It may open in January 2008.Silverado Ranch is an up and coming part of the Las Vegas Valley. Locally owned businesses, such as R.E. Tapas Kitchen and Lounge, will make our lives more enjoyable. Be sure and register on their website, www.retapaslounge.com, to subscribe for email updates. Hope to see you there.
Tuesday, December 18, 2007
South Strip Transfer Terminal Park and Ride
Courtesy of Regional Transportation Commission
With summer in full swing, many of us are making travel plans. To save time and energy looking for a parking spot at McCarran International Airport consider using transit as an alternative. Park at the South Strip Transfer Terminal park and ride, located at 6675 Gilespie south of Sunset Road, and take route 109 to the airport. You’ll get to the airport in about 10 minutes and the trip will only cost you $1.25 each way. This is probably one of the best-kept secrets in Las Vegas and a great way to bypass the hassle of paying for parking at the airport.
The park and ride lot is home to approximately 100 parking spaces that are available free of charge on a first-come, first-served basis to transit riders. You can leave your vehicle parked in the lot for up to seven days. If your vehicle needs to be left for longer than seven days contact Security at 676-1849 to make arrangements. Arrangements will be made on a case by case basis.
Remember to use the Transit Trip Planner to find the most convenient transit route to the Transfer Terminal from other locations around the valley. Input your origin, input the airport or any other destination in town, indicate the desired departure or arrival time and the Transit
With summer in full swing, many of us are making travel plans. To save time and energy looking for a parking spot at McCarran International Airport consider using transit as an alternative. Park at the South Strip Transfer Terminal park and ride, located at 6675 Gilespie south of Sunset Road, and take route 109 to the airport. You’ll get to the airport in about 10 minutes and the trip will only cost you $1.25 each way. This is probably one of the best-kept secrets in Las Vegas and a great way to bypass the hassle of paying for parking at the airport.The park and ride lot is home to approximately 100 parking spaces that are available free of charge on a first-come, first-served basis to transit riders. You can leave your vehicle parked in the lot for up to seven days. If your vehicle needs to be left for longer than seven days contact Security at 676-1849 to make arrangements. Arrangements will be made on a case by case basis.
Remember to use the Transit Trip Planner to find the most convenient transit route to the Transfer Terminal from other locations around the valley. Input your origin, input the airport or any other destination in town, indicate the desired departure or arrival time and the Transit
Trip Planner will provide you with a variety of ways to get there using transit. For more information, visit rtcsnv.com.
Tuesday, December 11, 2007
Retail for Our Neighborhood
Growth and Development of Silverado Ranch Picture is only simulation
In July of 2007 the United States Postal Office split our zip code. The Post Office does this when an area shows great potential for growth. Silverado Ranch is growing before our eyes. In fact, Silverado Ranch (zip codes 89123 and 89183) has more than tripled in the last decade. With the influx of new people to our immediate area we must have commercial development in order to support our way of life. One specific site for this type of growth is the vacant land east of Amigo Avenue and south of our local mine, Cactus Sand and Gravel. This 2.5 +/- acres lot is currently for sale for $2,750,000.
Roberts Hawaii Hotels Inc. purchased this vacant lot for $1,687,950 in July of 2005. According to Al Laird, a planner from Clark County Comprehensive Planning, “The land was re-zoned from R-E (2 homes per acre) to C-1 (local business district) on February 21, 2007.” Local Business District zoning allows for businesses that benefit a community, similar to P&R Retail-Shopping Plaza (Rhino Mart, Lefty’s Pizza, Bahay Kubo Asian Market, Kandy Kastle and others) near the intersection of Pollock Drive at Pyle Avenue. Laird went on the tell me, “Plans approved…by the Clark County Board of Commissioners…allowed for a 1-story, 35 foot high, 16,625 square-foot neighborhood shopping plaza.
On December 5, 2007, I spoke to Michael Sumiyoshi from Realty 7, the brokerage firm hired to sell the land. Sumiyoshi told me, “We have preliminary plans…for a retail strip center.” A few of the businesses that have submitted letters of intent include a liquor store, a nail saloon and an All-State insurance office. Also, IHOP has shown an interest in building a restaurant there.
Silverado Ranch is becoming a bustling suburb 
where Picture is only simulation
where Picture is only simulationhome values have seen some of the highest appreciation since the early part of the century. In 2005, some homes’ sale prices have more than doubled from when they were originally purchased in 2001 through 2003. Of course, our area has also witnessed some of the largest depreciation. For example, one home, that had been purchased from American West Homes on January 30, 2003, sold for $380,000. This magnificent home was then listed on December 12, 2004 for $679,900 and sold on April 1, 2005 for $619,500. On July 26, 2007 this home was listed again as repossessed and sold on September 24, 2007 for $495,000 with $5,000 going back to the buyer as a seller contribution. Silverado Ranch is located in an ideal location in our valley. Therefore, homes will hold their values. I am optimistic that the market will turn around, soon. How long? Only time will tell.
Thursday, November 29, 2007
Cashman Moves Its HQ
Major Development Nearby 
Cashman Equipment Company, one of the largest construction equipment merchants in North America, has begun improving the land between Maryland Parkway and Spencer Street, south of Cactus Avenue. According to the website acppubs.com, “Cashman Equipment Company has made its move to Henderson official by breaking ground on its new corporate headquarters.” The article goes on to say, “The seven building campus will be LEED (Leadership in Energy and Environmental Design) Gold Certified.” This means that South Las Vegas Valley will see a large, eco-friendly, business in operation by this time next year.
Cashman Equipment Company purchased this, vacant, 53.26 +/- acre lot from the City of Henderson in May 2007 for $28,650,000. Cashman Equipment Company’s plan to move its headquarters to Henderson came about, according to Tory Hendrickson, with Cashman Equipment Company, “When Clark County bought part of the existing compound (in North Las Vegas) for the new (I15) freeway expansion.” Hendrickson also told me, “They have been talking about the new building for a couple of years.”
Cashman Equipment Company’s new project has been LEED Gold certified by the United States Green Building Council. LEED is a rating system that has been around since the early 1990’s. LEED has evolved from retro-fitting existing buildings with state of the art heating and cooling systems to having entire complexes, such as Cashman Equipment Company’s Headquarters in Henderson, designed and constructed with high performance, green building standards and materials. Being LEED Certified not only promotes a healthy place to live and work, but it also qualifies the owners for tax rebates.
Cashman Equipment Company, one of the largest construction equipment merchants in North America, has begun improving the land between Maryland Parkway and Spencer Street, south of Cactus Avenue. According to the website acppubs.com, “Cashman Equipment Company has made its move to Henderson official by breaking ground on its new corporate headquarters.” The article goes on to say, “The seven building campus will be LEED (Leadership in Energy and Environmental Design) Gold Certified.” This means that South Las Vegas Valley will see a large, eco-friendly, business in operation by this time next year.
Cashman Equipment Company purchased this, vacant, 53.26 +/- acre lot from the City of Henderson in May 2007 for $28,650,000. Cashman Equipment Company’s plan to move its headquarters to Henderson came about, according to Tory Hendrickson, with Cashman Equipment Company, “When Clark County bought part of the existing compound (in North Las Vegas) for the new (I15) freeway expansion.” Hendrickson also told me, “They have been talking about the new building for a couple of years.”
Cashman Equipment Company’s new project has been LEED Gold certified by the United States Green Building Council. LEED is a rating system that has been around since the early 1990’s. LEED has evolved from retro-fitting existing buildings with state of the art heating and cooling systems to having entire complexes, such as Cashman Equipment Company’s Headquarters in Henderson, designed and constructed with high performance, green building standards and materials. Being LEED Certified not only promotes a healthy place to live and work, but it also qualifies the owners for tax rebates.
.
James “Big Jim” Cashman, the man who has made ‘Cashman’ a household name in Nevada, took advantage of an opportunity to supply a few pieces of equipment during the Hoover Dam project is now one of the largest privately owned corporations in Nevada. This corporation will now bring commerce and industry to the South Las Vegas Valley.
Thursday, July 12, 2007
July 2007
BEWARE! Cross Traffic Does NOT Stop! 
On Father’s Day, June 17, 2007, my neighbor exclaimed, “Brad, the intersection of Bermuda Road at Cactus Avenue is very dangerous.” She continued, “There should be a four way stop there.” Frustrated with the situation, she asked me if I would help. On June 18, 2007, I called Clark County Traffic Management Division to report this hazardous intersection.
Kevin Futch, an engineer for Clark County, told me, “Now that this intersection has been reported we will do counts and field observations to see if the intersection meets the criteria…to receive more signage.” Futch continued, “The master plan for Cactus Avenue shows a lighted intersection there [Cactus Avenue at Bermuda Road].” Please, in the meantime, be very cautious at this particular intersection.
As homes are built in the South Valley, traffic will inevitably increase. Many drivers may not be as familiar with the roads as they should be. For example, the traffic traveling east and west on Cactus Avenue, crossing Bermuda Road, is not always aware that they must stop at this intersection. Furthermore, often travelers are unaware that the traffic traveling north and south on Bermuda Road does not have to stop. Sometimes, unfamiliarity with the area does, in fact, cause confusion and accidents are often foreseeable. As more information, regarding the widening and improvement of Cactus Avenue, becomes available I will report back to you.
Milano Residences
Construction of the proposed luxury condominium project, located near the intersection of Cactus Avenue at Bermuda Road, stopped abruptly earlier this year. The plans approved by Clark County show a four-story, 100-unit, mid-rise, condominium project. Plans suggest that there will be three residential floors above one level for parking. On June 18, 2007, I, Brad Emens, spoke to Clark County Planner, Greg Cervin. He told me that he does not know why construction has stopped. He went on to tell me, “They [Milano Residences LLC] are still pulling permits.” On June 27, 2007, a construction trailer appeared. Curious, I approached the trailer and had an opportunity to speak to a new general contractor for this project.
Dean Mills, superintendent for Sundance Construction, the new builder, told me, “Dayside [the previous builder] got thrown out.”
I asked Mills, “When will we see construction start again?”
He told me, in a thick southern accent, “It’s fixing to be as busy as a beehive!”
I then asked Mills, “When will this project might be finished?”
He said, “7 or 8 months.”
Mid-rise and high-rise construction projects seem to be new alternatives to the more traditional neighborhood. These types of homes may be more desirable, as opposed to freestanding homes with yards, because of minimal required maintenance. When sales information is released I will report it to you.
Silverado Ranch Exit/On-Ramp
As the southern edge of our valley continues to blossom, we can expect to see its infrastructure being improved, and become more developed. The new ramps, overpass and full interchange being built for Silverado Ranch are part of the work being done for the quickly developing Silverado Ranch Community.
According to accessclarkcounty.com, “The overall $38.7 million-dollar project should be finished by the end of October this year.” This mass of jumbled rebar and steel, the bridge structure, was completed in early June. Now, this structure awaits a covering of asphalt and concrete before it is recognized as our very own interchange.
On June 4, 2007, Oscar Esparza, a foreman for Frehner Construction, a major contracting business headquartered in Las Vegas, told me, “We are on schedule.” Esparza
continued, “It’s going to be such a huge relief…(as he gestured toward the project)…when it opens.” At this point, the northbound on-ramp to Interstate-15, as well as the northbound exit onto Silverado Ranch Boulevard from Interstate-15 is operational. Soon, not only will we be able to enter and exit Interstate-15 at Silverado Ranch Boulevard, but also we will have convenient access to Southern Highlands, Mountain’s Edge and the Southwest Valley. These are exciting times for our community. Silverado Ranch Boulevard Northbound and Southbound entrances are now open
What ever happened to Urban Village?
On April 15, 2007, a member of our community asked me, Brad Emens, “What ever happened to Urban Village?” Urban Village, a proposed, $1 billion, master-planned-community, located near the southwest corner of Pyle Avenue at Las Vegas Boulevard, is now for sale. Urban Village, which was supposed to have five neighborhoods with 2,400 brownstones, condominium homes, flats and live-work concepts, will no longer be developed by Centex Destination Properties. On April 17, 2007, I attempted to contact the developer, Centex Destination Properties. The phone number lead to an operator who said this number was disconnected or no longer in service.
Next, I went to urbanvillage.com, this projects website. According to urbanvillage.com, “Centex Destination Properties has discontinued sales at Urban Village-Las Vegas.” I then called the real estate brokerage hired to sell the land. This land, just less than 70 acres, is priced at $160 million. That is about $2.3 million per acre! I am curious to see what will eventually be built there.
Picture is only simulation
West Village Featuring Sullivan Square
The next up-and-coming mixed-use community for Las Vegas is Sullivan Square. This project is a sure thing. Financing is already in place and the website hoobly.com states, “Developer Glen, Smith & Glen has completed its financing agreements and is now a joint venture partner with Harcourt Developments…Harcourt is funding the entire $800 million project cost.” Located at Sunset Road and Durango Drive, just off Bruce Woodbury’s Beltway (I215), Sullivan Square will become another commercial center that will create a large number of jobs and lifestyles.
An article about Sullivan Square in the April 7, 2007 Las Vegas Review Journal states, “This development will offer a market-street design featuring shops and services.” The article goes on to say, “An independently owned café, restaurant, full-service deli, neighborhood pub, florist, fresh fish monger, wine shop, coffee shop, bakery and butcher are planned.”
Sullivan Square will consist of 1,300 residences, high-rise towers, live/work spaces and traditional brownstones. This development will offer mid-rise terraced condominiums, Chicago-style lofts and town homes. Units in Sullivan Square's first phase range from 500 to 2,000 square feet with prices from the low $300,000s to $1.7 million.
According to an article in the April 20, 2007 Las Vegas Review Journal, “The development [Sullivan Square] will be situated at the center of Las Vegas Valley's emerging West Village where 400 acres are zoned for high-density, mixed-use development, 10,000 housing units, several hundred thousand square feet of retail space and several million square feet of office space.” This is an area to keep an eye on. When you are interested in learning more about this, or any other real estate venture, call me, Brad Emens 702-808-3531.
Market Update for the Greater Las Vegas Area (GLVA) 7/6/2007
There are 25,590 For Sale
2,715 In Escrow (this means 10.6% of homes on the market are getting acceptable offers!)
11,136 Homes Sold This Year vs.
17,746 homes sold by this time last year
21,795 Sold by this time in 2005
23,466 Sold by this time in 2004
17,114 Sold by this time in 2003
(Single-Family Residential, Condominiums and Town Homes)
On June 16, 2007, Greater Las Vegas Area Association of REALTORS Multiple Listing System added REPO (repossession) to the pick list under the property description. This new criteria can be used search for repossessed properties. The addition of this new search criterion indicates that the Greater Las Vegas Area Association of REALTORS anticipates an increase in REO (real estate owned)/ bank owned properties. On June 26, 2007 there were 1,100 single-family residential homes, condominiums, and town houses that had REPO as the property description. I am not trying to be bleak and gloomy but the reality of the situation is not so desirable. The time is here when short sales, and looming foreclosures, will have an affect on home values.
.jpg)
Cactus Sand and Gravel
There is a large gravel pit near the intersection of Amigo Street at Cactus Avenue. The mine here is operated by Impact Sand and Gravel and has been in business since 1995. The 75+/- acre lot where this mine is located is zoned P-F or Public Facility and will be used as a detention basin to help control flooding. Since these structures do not see frequent use, especially in desert areas, it is common to have them designed as dual use facilities. Faith Heritage Schools, a group of five interested individuals, has shown an interest in being the end user, for the secondary purpose, of this gravel pit.
On April 26, 2007, Faith Heritage Schools held a presentation for local residents at the Donald W. Reynolds Scouting Resource Center. At the meeting there were several renditions, pictures and diagrams that showed how this land might be developed. The material at the presentation stated:
- Initial development is planned for the 10 +/- acres lot west of Antigua Condominiums.
- The first construction stage of the school may be an administration building, a classroom building, and a cafeteria building.
- Initial enrollment may have 150-200 students.
- At complete build out it is estimated that the school may have a maximum of 1200 students.
- The first phase of the school may have grades 6-9. It is planned to expand one grade level per year thereafter.
- Doors open the to the first students in August 2009.
- Due to the unique design of the land, Faith Heritage Schools plans to place sports facilities below street grade in order to minimize noise and glare from field lights.
Director of Faith Heritage Schools, Glen Goldie, said, “Expected amount of the initial build out…at today’s construction costs…may be $25-$35 million.” He continued, “We want to bring excellence to Las Vegas.” Goldie also told me, “The plans for Capstone Christian School, a proposed, non-profit, tuition based, private school has been in the works for about a year.” In order to attain funding for this development Goldie stated, “We will depend on large gifts, especially.”
Moreover, a private school may be a beneficial addition to our community. An improvement like this will surely bring appreciation, and monetary value, to our community. Please, voice your opinion about this topic.
The information provided in this blog was obtained from google.com and the Multiple Listing Service (MLS) on July 6th, 2007 and is believed to be accurate and true. If your home is currently on the market please do not consider this to be a solicitation; this newsletter is merely for your information. If you would like a comparative market analysis for your home please email me at sgtbrad@cox.net or call me, Brad Emens (702) 808-3531. I live right around the corner. Thank you.
On Father’s Day, June 17, 2007, my neighbor exclaimed, “Brad, the intersection of Bermuda Road at Cactus Avenue is very dangerous.” She continued, “There should be a four way stop there.” Frustrated with the situation, she asked me if I would help. On June 18, 2007, I called Clark County Traffic Management Division to report this hazardous intersection.
Kevin Futch, an engineer for Clark County, told me, “Now that this intersection has been reported we will do counts and field observations to see if the intersection meets the criteria…to receive more signage.” Futch continued, “The master plan for Cactus Avenue shows a lighted intersection there [Cactus Avenue at Bermuda Road].” Please, in the meantime, be very cautious at this particular intersection.
As homes are built in the South Valley, traffic will inevitably increase. Many drivers may not be as familiar with the roads as they should be. For example, the traffic traveling east and west on Cactus Avenue, crossing Bermuda Road, is not always aware that they must stop at this intersection. Furthermore, often travelers are unaware that the traffic traveling north and south on Bermuda Road does not have to stop. Sometimes, unfamiliarity with the area does, in fact, cause confusion and accidents are often foreseeable. As more information, regarding the widening and improvement of Cactus Avenue, becomes available I will report back to you.
Milano Residences
Construction of the proposed luxury condominium project, located near the intersection of Cactus Avenue at Bermuda Road, stopped abruptly earlier this year. The plans approved by Clark County show a four-story, 100-unit, mid-rise, condominium project. Plans suggest that there will be three residential floors above one level for parking. On June 18, 2007, I, Brad Emens, spoke to Clark County Planner, Greg Cervin. He told me that he does not know why construction has stopped. He went on to tell me, “They [Milano Residences LLC] are still pulling permits.” On June 27, 2007, a construction trailer appeared. Curious, I approached the trailer and had an opportunity to speak to a new general contractor for this project.
Dean Mills, superintendent for Sundance Construction, the new builder, told me, “Dayside [the previous builder] got thrown out.”
I asked Mills, “When will we see construction start again?”
He told me, in a thick southern accent, “It’s fixing to be as busy as a beehive!”
I then asked Mills, “When will this project might be finished?”
He said, “7 or 8 months.”
Mid-rise and high-rise construction projects seem to be new alternatives to the more traditional neighborhood. These types of homes may be more desirable, as opposed to freestanding homes with yards, because of minimal required maintenance. When sales information is released I will report it to you.
Silverado Ranch Exit/On-RampAs the southern edge of our valley continues to blossom, we can expect to see its infrastructure being improved, and become more developed. The new ramps, overpass and full interchange being built for Silverado Ranch are part of the work being done for the quickly developing Silverado Ranch Community.
According to accessclarkcounty.com, “The overall $38.7 million-dollar project should be finished by the end of October this year.” This mass of jumbled rebar and steel, the bridge structure, was completed in early June. Now, this structure awaits a covering of asphalt and concrete before it is recognized as our very own interchange.
On June 4, 2007, Oscar Esparza, a foreman for Frehner Construction, a major contracting business headquartered in Las Vegas, told me, “We are on schedule.” Esparza
continued, “It’s going to be such a huge relief…(as he gestured toward the project)…when it opens.” At this point, the northbound on-ramp to Interstate-15, as well as the northbound exit onto Silverado Ranch Boulevard from Interstate-15 is operational. Soon, not only will we be able to enter and exit Interstate-15 at Silverado Ranch Boulevard, but also we will have convenient access to Southern Highlands, Mountain’s Edge and the Southwest Valley. These are exciting times for our community. Silverado Ranch Boulevard Northbound and Southbound entrances are now openWhat ever happened to Urban Village?
On April 15, 2007, a member of our community asked me, Brad Emens, “What ever happened to Urban Village?” Urban Village, a proposed, $1 billion, master-planned-community, located near the southwest corner of Pyle Avenue at Las Vegas Boulevard, is now for sale. Urban Village, which was supposed to have five neighborhoods with 2,400 brownstones, condominium homes, flats and live-work concepts, will no longer be developed by Centex Destination Properties. On April 17, 2007, I attempted to contact the developer, Centex Destination Properties. The phone number lead to an operator who said this number was disconnected or no longer in service.
Next, I went to urbanvillage.com, this projects website. According to urbanvillage.com, “Centex Destination Properties has discontinued sales at Urban Village-Las Vegas.” I then called the real estate brokerage hired to sell the land. This land, just less than 70 acres, is priced at $160 million. That is about $2.3 million per acre! I am curious to see what will eventually be built there.
Picture is only simulation
West Village Featuring Sullivan SquareThe next up-and-coming mixed-use community for Las Vegas is Sullivan Square. This project is a sure thing. Financing is already in place and the website hoobly.com states, “Developer Glen, Smith & Glen has completed its financing agreements and is now a joint venture partner with Harcourt Developments…Harcourt is funding the entire $800 million project cost.” Located at Sunset Road and Durango Drive, just off Bruce Woodbury’s Beltway (I215), Sullivan Square will become another commercial center that will create a large number of jobs and lifestyles.
An article about Sullivan Square in the April 7, 2007 Las Vegas Review Journal states, “This development will offer a market-street design featuring shops and services.” The article goes on to say, “An independently owned café, restaurant, full-service deli, neighborhood pub, florist, fresh fish monger, wine shop, coffee shop, bakery and butcher are planned.”
Sullivan Square will consist of 1,300 residences, high-rise towers, live/work spaces and traditional brownstones. This development will offer mid-rise terraced condominiums, Chicago-style lofts and town homes. Units in Sullivan Square's first phase range from 500 to 2,000 square feet with prices from the low $300,000s to $1.7 million.
According to an article in the April 20, 2007 Las Vegas Review Journal, “The development [Sullivan Square] will be situated at the center of Las Vegas Valley's emerging West Village where 400 acres are zoned for high-density, mixed-use development, 10,000 housing units, several hundred thousand square feet of retail space and several million square feet of office space.” This is an area to keep an eye on. When you are interested in learning more about this, or any other real estate venture, call me, Brad Emens 702-808-3531.
Market Update for the Greater Las Vegas Area (GLVA) 7/6/2007
There are 25,590 For Sale
2,715 In Escrow (this means 10.6% of homes on the market are getting acceptable offers!)
11,136 Homes Sold This Year vs.
17,746 homes sold by this time last year
21,795 Sold by this time in 2005
23,466 Sold by this time in 2004
17,114 Sold by this time in 2003
(Single-Family Residential, Condominiums and Town Homes)
On June 16, 2007, Greater Las Vegas Area Association of REALTORS Multiple Listing System added REPO (repossession) to the pick list under the property description. This new criteria can be used search for repossessed properties. The addition of this new search criterion indicates that the Greater Las Vegas Area Association of REALTORS anticipates an increase in REO (real estate owned)/ bank owned properties. On June 26, 2007 there were 1,100 single-family residential homes, condominiums, and town houses that had REPO as the property description. I am not trying to be bleak and gloomy but the reality of the situation is not so desirable. The time is here when short sales, and looming foreclosures, will have an affect on home values.
.jpg)
Cactus Sand and Gravel
There is a large gravel pit near the intersection of Amigo Street at Cactus Avenue. The mine here is operated by Impact Sand and Gravel and has been in business since 1995. The 75+/- acre lot where this mine is located is zoned P-F or Public Facility and will be used as a detention basin to help control flooding. Since these structures do not see frequent use, especially in desert areas, it is common to have them designed as dual use facilities. Faith Heritage Schools, a group of five interested individuals, has shown an interest in being the end user, for the secondary purpose, of this gravel pit.
On April 26, 2007, Faith Heritage Schools held a presentation for local residents at the Donald W. Reynolds Scouting Resource Center. At the meeting there were several renditions, pictures and diagrams that showed how this land might be developed. The material at the presentation stated:
- Initial development is planned for the 10 +/- acres lot west of Antigua Condominiums.
- The first construction stage of the school may be an administration building, a classroom building, and a cafeteria building.
- Initial enrollment may have 150-200 students.
- At complete build out it is estimated that the school may have a maximum of 1200 students.
- The first phase of the school may have grades 6-9. It is planned to expand one grade level per year thereafter.
- Doors open the to the first students in August 2009.
- Due to the unique design of the land, Faith Heritage Schools plans to place sports facilities below street grade in order to minimize noise and glare from field lights.
Director of Faith Heritage Schools, Glen Goldie, said, “Expected amount of the initial build out…at today’s construction costs…may be $25-$35 million.” He continued, “We want to bring excellence to Las Vegas.” Goldie also told me, “The plans for Capstone Christian School, a proposed, non-profit, tuition based, private school has been in the works for about a year.” In order to attain funding for this development Goldie stated, “We will depend on large gifts, especially.”
Moreover, a private school may be a beneficial addition to our community. An improvement like this will surely bring appreciation, and monetary value, to our community. Please, voice your opinion about this topic.
The information provided in this blog was obtained from google.com and the Multiple Listing Service (MLS) on July 6th, 2007 and is believed to be accurate and true. If your home is currently on the market please do not consider this to be a solicitation; this newsletter is merely for your information. If you would like a comparative market analysis for your home please email me at sgtbrad@cox.net or call me, Brad Emens (702) 808-3531. I live right around the corner. Thank you.
Monday, April 09, 2007
April 2007
I, Brad Emens, am a REALTOR. I have been here since the beginning…when Silverado Ranch was just being developed and Serene Avenue was a dirt road. Even today I still ask myself, “What’s going on here?” I am always very eager to report about the new growth and development in our community. That’s why I can take pride in myself as I provide spot on real estate service. I even look forward to creating a long-term relationship with the members of my community. I live here. I work here...and knowledge and familiarity is vital to marketing properties here.
Luxury Homes coming soon?
Tom Howe, investor/developer, hosted a community meeting held on October 28, 2006. He gave local residents a preview of his plans for our community. Mr. Howe wants to build luxury homes so he purchased 2.92 acres of vacant land on the southwest corner of Bermuda Road at Pyle Avenue. According to Clark County Assessor, Howe purchased 2 vacant lots near this intersection in December 2004 and January 2005 for $750,000 and $430,000, respectively. The land is currently zoned R-E, or rural estates, or two homes per acre. On January 18, 2007, Howe told me, Brad Emens, that he would like to change the zoning and “stay with what is in the area.” Stone Gate Encore, a neighboring subdivision, is zoned R-D, or three homes per acre. Howe also told me that he would like to purchase the adjacent, 1.09-acre, lot. This land, owned by Dedrick and Renae Goodwin, is currently zoned R-E, or two homes per acre.
On February 28, 2007 I spoke to Mick Birge, advisor/colleague of Howe. I asked Birge, “When could we expect to see construction on this project begin.”
Birge told me, “As soon as next year.” He also told me, “The homes will be built by Signature Homes.” Signature Homes is one of the largest homebuilders in the Las Vegas Valley. Next, Birge said, “The homes will be semi-custom…3,500 square feet to 5,000 square feet ...and there are currently 10 planned lots.” This means that these new homes may sit on nearly 1/4-acre parcels!
As time goes by, we will see the vacant, raw desert, in our area continue to be improved. The type of development that Howe plans to bring to our area will surely bring appreciation, or higher monetary value, to the surrounding homes. If you are interested in finding out more about this proposed project, or other local improvement projects like this, please, call me, Brad Emens, 702-808-3531.
Silverado Ranch Boulevard Interchange at I15
Finally! There is construction activity near the South Pointe Casino. It looks like Silverado Ranch will have access to Interstate 15 soon. On February 15, 2007, I met with Alvino Bautista, a foreman for Frehner Construction. According to aggregate-us.com, “Frehner Construction is a major contracting business headquartered in Las Vegas.” Bautista told me about the new Silverado Ranch Boulevard entrance ramp for the I15. He said, “This project was actually supposed to be finished already.” He continued, “The north bound exit will be finished first…for the casino (South Pointe).” Bautista also told me, “We should be finished with the overpass by June 2007.”
Since the Blue Diamond/I15 Interchange was finished last December there has been a noticeable decrease in traffic jams. I eagerly look forward to the completion of our new freeway interchange. This will relieve Silverado Ranch traffic congestion entering the freeway.
Gravel Pit Meeting
Impact Sand and Gravel has been permitted to operate the only 75+/- acre gravel pit in Silverado Ranch. The pit is located on the northeast corner of Cactus Avenue at Amigo Street; an area surrounded by approximately 3,000 homes. The industrial operation of mining in Silverado Ranch has caused much skepticism and ridicule. On June 5, 2003 the Las Vegas Sun reported, “The pit, at Amigo Street and Cactus Avenue, just outside of Henderson, has for a decade bothered residents who complained of noise and dust from blasting, mining and hauling from the site.” The pit, however, is zoned P-F, or public facility. It is ultimately to become a basin to trap floodwaters.
While the mine is in operation there will be community meetings. These meetings will continue so that we may hold the pit operators accountable for their actions. On March 22, 2007, about twenty residents showed up to the most recent gravel pit meeting. Bob Motis, Vice-President and Representative for Impact Sand and Gravel said, “We’ve done our best to be good neighbors.” Motis asked community members to call the 24-hour hotline, 702-851-9288, any time we see violations concerning the gravel pit. When Motis was finished sharing his information, he asked to hear from the homeowners.
Vida Carr, a homeowner in Antigua Condominiums exclaimed, “I use the road (Cactus Avenue) every morning and there has been an insurmountable number of trucks…I’ve never lived in a place that is so dusty!” In fact, hundreds of trucks come in and out of the gravel pit daily.
Julian Bogoni, whose backyard faces the gravel pit, said, “They have bulldozers loading trucks and it shakes my house!” He continued, “It is so loud and the lights…the noise of the trucks…beep, beep, beep…at 4:30 in the morning.” It seems noise and dust may be the biggest complaints of neighbors.
Glenn Deiderich, a resident of the gravel pit’s edge since April 2001, told attendees, “There was damage to my house last year and look…” as he held up a picture of his wall with a hole in it. Deiderich continued, “I used to have an eight foot window with a crack…now I’ve put in French doors.”
Bryan Klein, a homeowner from Silverado Place, said, “Don’t blame the operators of the mine…blame our county commissioners for allowing neighborhoods to be built around this gravel pit.”
Because of the prominent existence of shifting soils, and caliche*, in our environment, foundations of buildings require the presence of gravel pits; like the one in our community. According to an article in the July 22, 2004 Las Vegas Sun, “The Clark County Commission gave a six-year lease on life to continued digging at a gravel pit in residential Silverado Ranch.” Impact Sand and Gravel will then turn the land over to Clark County to be used as a serviceable detention basin by January 31, 2010.
* Caliche is a combination of calcium carbonate and sand, or gravel that has been cemented together and causes hydrostatic pressure when it becomes wet.
Gravel Pit’s Future
In the future, the gravel pit will be used as flood control similar to Duck Creek Basin near the intersection of Bermuda Road at Serene Avenue. Clark County gave the operators of this mining project until January 31, 2010 to finish digging. Often times, these retention/detention basins serve a dual purpose. Recently, Kami Dempsey, a representative from Faith Heritage, a private school developer, contacted me. She told me, “We would like to get the neighbors involved.” I told her I would be honored to help. She also told me, “There will be a meeting to discuss ideas and get the communities opinions.” The site for the meeting has not yet been selected. I would like it to be very near to our Silverado Ranch Area.
Market Condition Report
The first four months of 2007 may be a sign of how the Las Vegas real estate market has hit its peak. Has the legendary real estate “bubble” popped? Not really. Here are statistics from the Greater Las Vegas Association of Realtors
January 1, 2002 through April 1, 2002 – 5,491 homes sold
January 1, 2003 through April 1, 2003 – 7,381 homes sold
January 1, 2004 through April 1, 2004 – 10,394 homes sold
January 1, 2005 through April 1, 2005 – 9,373 homes sold
January 1, 2006 through April 1, 2006 – 8,160 homes sold
January 1, 2007 through April 1, 2007 – 5,461 homes sold
This data suggests that the Las Vegas housing market is in the middle of an adjustment. With home prices hovering around where they were in 2005, I feel we are back to an orthodox market. Remember home costs in early 2003?
Condominiums or Apartments?
On January 23, 2007 an inquiring homeowner from Antigua Condominiums, 1050 E. Cactus Avenue, called me, Brad Emens. First, she asked me if I knew anything more about the
construction project behind Roberto’s Taco Shop. I told her, “The land east of Roberto’s Taco Shop will be a 4 story, luxury condominium complex.” I have written a letter to the owners and I am waiting on a response. I will report back when I know more. If you have any interest in this project contact me, Brad Emens, 702-808-3531.
Next, the homeowner asked me if I knew anything about the 4.24 acre, vacant lot, west of Antigua Condominiums. I went to Clark County Assessor website and found that this land is currently owned by VTS Investments. They bought this land in January 2006 and paid $3,500,000. On February 17, 2007 I spoke to Andy Roether, a planner from Clark County Comprehensive planning. He told me, “The land owners’ have changed the zoning from C-1 to R-3.” C-1 is commercial and R-3 is multiple-family residential. Roether then told me, “The plans submitted show 11 residential buildings and a clubhouse.” He continued, “There will be 88 units…56 one-bedroom and 32 two-bedroom dwellings.” I asked if there was a way to find out if the project will be apartments or privately owned condominiums. He said, “There is no way to tell.” I, Brad Emens, will report back to you when I learn more.
How to Buy a Home the Easy Way
Buying a home can be a “hair-raising” experience. It can be a roller coaster of emotions…finding the right place…securing the right loan…moving in…etc…etc… For many, your home will be your largest investment. The emotions over such a large and personal purchase can often cloud good business judgment. Many homebuyers do very little research before “diving in” and investing their hard earned money. Before doing that, doesn’t it make sense to be as informed as possible? Below are 10 suggestions to consider when buying a home:
1) Inspect, Inspect and Inspect. Hire a licensed inspector and review the inspection report with a fine toothcomb. For purchases within a Homeowners’ Association (HOA) read all by-laws, CC and R’s and, most importantly, the price of HOA dues. Don’t take anything for granted…inspect everything.
2) Imagine the property vacant. It’s your furniture that will be filling this new residence. Don’t be swayed by the furniture or the clutter…it leaves with the owner.
3) Income + Lifestyle = Mortgage Payment. Sit down with a competent real estate professional, like me, Brad Emens. Be ready to have an honest discussion about your income level and living expenses. Take into account future considerations like: children, add-ons and fix-ups. Your dream home is certainly worth some sacrifice but don’t mortgage your entire future.
4) View Several Homes. See at least 3-5 properties. Don’t move in on the first property you see, but don’t move to slowly either. With your agent’s help you will be able to view enough properties in order to get a good overall perspective of your market. When you find the right property all the legwork will have been worth it.
5) Utilize Your Team. By aligning yourself with the right real estate professional you will have an entire team working for you. Top real estate professionals have lenders, escrow officers, inspection teams- an entire group of trained professionals making the whole buying experience simple and easy for you.
6) Be Aware. Check out all of your costs and expenses before you sign. Some costs may include: utilities, taxes, insurance, maintenance, and HOA dues. Make sure all utilities are turned on (gas, electricity, and water) so that you can inspect everything in working order. Ask questions and be very detail conscious.
7) Do a Final Walk-Through. Visit the property after all the furnishings have been moved out. Be sure that there are no surprises. Be absolutely positive that the property has been left exactly as you had agreed upon in your contract. Many times, things are unintentionally overlooked. This may be spotted in a final walk-through.
8) Plan for Flexibility. Closing dates are not written in stone. Sometimes, you, or the sellers, may need more time to conclude final arrangements. You may need to allow for contingencies and have a back-up plan. Don’t let delays upset or frustrate you. These types of circumstances are not uncommon in a real estate transaction.
9) If It’s Not in Writing, It doesn’t Exist. All promises and discussions must be in writing in order to be enforceable. Don’t make any assumptions or believe any verbal assurances. Have your real estate professional keep an ongoing log of all discussions. Make sure to get the seller’s written approval for all agreements.
10) Loyalty Breeds Loyalty. Be open, honest and up-front with your team. Hard feelings and disloyalty will cause headaches, delays and may even keep you from getting into the home you worked so hard to locate. Take the time to select the right team in the beginning and your home-buying process will be simple, easy, and profitable.
I hope you found my ideas for your home-buying success valuable. If there is any way I can be of service to you, or anyone you care about, please call me, Brad Emens 702-808-3531. Your consultation will be free and you will be under no obligation of any kind. I look forward to hearing from you.
The information provided in this reader was obtained from google.com, interviews, and the Multiple Listing Service (MLS) and is believed to be accurate and true. If your home is currently on the market please do not consider this to be a solicitation; this newsletter is merely for your information. If you would like a comparative market analysis for your home please email me at sgtbrad@cox.net or call me, Brad Emens (702) 808-3531. I live right around the corner. Thank you.
Luxury Homes coming soon?
Tom Howe, investor/developer, hosted a community meeting held on October 28, 2006. He gave local residents a preview of his plans for our community. Mr. Howe wants to build luxury homes so he purchased 2.92 acres of vacant land on the southwest corner of Bermuda Road at Pyle Avenue. According to Clark County Assessor, Howe purchased 2 vacant lots near this intersection in December 2004 and January 2005 for $750,000 and $430,000, respectively. The land is currently zoned R-E, or rural estates, or two homes per acre. On January 18, 2007, Howe told me, Brad Emens, that he would like to change the zoning and “stay with what is in the area.” Stone Gate Encore, a neighboring subdivision, is zoned R-D, or three homes per acre. Howe also told me that he would like to purchase the adjacent, 1.09-acre, lot. This land, owned by Dedrick and Renae Goodwin, is currently zoned R-E, or two homes per acre.
On February 28, 2007 I spoke to Mick Birge, advisor/colleague of Howe. I asked Birge, “When could we expect to see construction on this project begin.”
Birge told me, “As soon as next year.” He also told me, “The homes will be built by Signature Homes.” Signature Homes is one of the largest homebuilders in the Las Vegas Valley. Next, Birge said, “The homes will be semi-custom…3,500 square feet to 5,000 square feet ...and there are currently 10 planned lots.” This means that these new homes may sit on nearly 1/4-acre parcels!
As time goes by, we will see the vacant, raw desert, in our area continue to be improved. The type of development that Howe plans to bring to our area will surely bring appreciation, or higher monetary value, to the surrounding homes. If you are interested in finding out more about this proposed project, or other local improvement projects like this, please, call me, Brad Emens, 702-808-3531.
Silverado Ranch Boulevard Interchange at I15Finally! There is construction activity near the South Pointe Casino. It looks like Silverado Ranch will have access to Interstate 15 soon. On February 15, 2007, I met with Alvino Bautista, a foreman for Frehner Construction. According to aggregate-us.com, “Frehner Construction is a major contracting business headquartered in Las Vegas.” Bautista told me about the new Silverado Ranch Boulevard entrance ramp for the I15. He said, “This project was actually supposed to be finished already.” He continued, “The north bound exit will be finished first…for the casino (South Pointe).” Bautista also told me, “We should be finished with the overpass by June 2007.”
Since the Blue Diamond/I15 Interchange was finished last December there has been a noticeable decrease in traffic jams. I eagerly look forward to the completion of our new freeway interchange. This will relieve Silverado Ranch traffic congestion entering the freeway.
Gravel Pit Meeting
Impact Sand and Gravel has been permitted to operate the only 75+/- acre gravel pit in Silverado Ranch. The pit is located on the northeast corner of Cactus Avenue at Amigo Street; an area surrounded by approximately 3,000 homes. The industrial operation of mining in Silverado Ranch has caused much skepticism and ridicule. On June 5, 2003 the Las Vegas Sun reported, “The pit, at Amigo Street and Cactus Avenue, just outside of Henderson, has for a decade bothered residents who complained of noise and dust from blasting, mining and hauling from the site.” The pit, however, is zoned P-F, or public facility. It is ultimately to become a basin to trap floodwaters.
While the mine is in operation there will be community meetings. These meetings will continue so that we may hold the pit operators accountable for their actions. On March 22, 2007, about twenty residents showed up to the most recent gravel pit meeting. Bob Motis, Vice-President and Representative for Impact Sand and Gravel said, “We’ve done our best to be good neighbors.” Motis asked community members to call the 24-hour hotline, 702-851-9288, any time we see violations concerning the gravel pit. When Motis was finished sharing his information, he asked to hear from the homeowners.
Vida Carr, a homeowner in Antigua Condominiums exclaimed, “I use the road (Cactus Avenue) every morning and there has been an insurmountable number of trucks…I’ve never lived in a place that is so dusty!” In fact, hundreds of trucks come in and out of the gravel pit daily.
Julian Bogoni, whose backyard faces the gravel pit, said, “They have bulldozers loading trucks and it shakes my house!” He continued, “It is so loud and the lights…the noise of the trucks…beep, beep, beep…at 4:30 in the morning.” It seems noise and dust may be the biggest complaints of neighbors.
Glenn Deiderich, a resident of the gravel pit’s edge since April 2001, told attendees, “There was damage to my house last year and look…” as he held up a picture of his wall with a hole in it. Deiderich continued, “I used to have an eight foot window with a crack…now I’ve put in French doors.”
Bryan Klein, a homeowner from Silverado Place, said, “Don’t blame the operators of the mine…blame our county commissioners for allowing neighborhoods to be built around this gravel pit.”
Because of the prominent existence of shifting soils, and caliche*, in our environment, foundations of buildings require the presence of gravel pits; like the one in our community. According to an article in the July 22, 2004 Las Vegas Sun, “The Clark County Commission gave a six-year lease on life to continued digging at a gravel pit in residential Silverado Ranch.” Impact Sand and Gravel will then turn the land over to Clark County to be used as a serviceable detention basin by January 31, 2010.
* Caliche is a combination of calcium carbonate and sand, or gravel that has been cemented together and causes hydrostatic pressure when it becomes wet.
Gravel Pit’s FutureIn the future, the gravel pit will be used as flood control similar to Duck Creek Basin near the intersection of Bermuda Road at Serene Avenue. Clark County gave the operators of this mining project until January 31, 2010 to finish digging. Often times, these retention/detention basins serve a dual purpose. Recently, Kami Dempsey, a representative from Faith Heritage, a private school developer, contacted me. She told me, “We would like to get the neighbors involved.” I told her I would be honored to help. She also told me, “There will be a meeting to discuss ideas and get the communities opinions.” The site for the meeting has not yet been selected. I would like it to be very near to our Silverado Ranch Area.
Market Condition Report
The first four months of 2007 may be a sign of how the Las Vegas real estate market has hit its peak. Has the legendary real estate “bubble” popped? Not really. Here are statistics from the Greater Las Vegas Association of Realtors
January 1, 2002 through April 1, 2002 – 5,491 homes sold
January 1, 2003 through April 1, 2003 – 7,381 homes sold
January 1, 2004 through April 1, 2004 – 10,394 homes sold
January 1, 2005 through April 1, 2005 – 9,373 homes sold
January 1, 2006 through April 1, 2006 – 8,160 homes sold
January 1, 2007 through April 1, 2007 – 5,461 homes sold
This data suggests that the Las Vegas housing market is in the middle of an adjustment. With home prices hovering around where they were in 2005, I feel we are back to an orthodox market. Remember home costs in early 2003?
Condominiums or Apartments?
On January 23, 2007 an inquiring homeowner from Antigua Condominiums, 1050 E. Cactus Avenue, called me, Brad Emens. First, she asked me if I knew anything more about the
construction project behind Roberto’s Taco Shop. I told her, “The land east of Roberto’s Taco Shop will be a 4 story, luxury condominium complex.” I have written a letter to the owners and I am waiting on a response. I will report back when I know more. If you have any interest in this project contact me, Brad Emens, 702-808-3531.Next, the homeowner asked me if I knew anything about the 4.24 acre, vacant lot, west of Antigua Condominiums. I went to Clark County Assessor website and found that this land is currently owned by VTS Investments. They bought this land in January 2006 and paid $3,500,000. On February 17, 2007 I spoke to Andy Roether, a planner from Clark County Comprehensive planning. He told me, “The land owners’ have changed the zoning from C-1 to R-3.” C-1 is commercial and R-3 is multiple-family residential. Roether then told me, “The plans submitted show 11 residential buildings and a clubhouse.” He continued, “There will be 88 units…56 one-bedroom and 32 two-bedroom dwellings.” I asked if there was a way to find out if the project will be apartments or privately owned condominiums. He said, “There is no way to tell.” I, Brad Emens, will report back to you when I learn more.
How to Buy a Home the Easy Way
Buying a home can be a “hair-raising” experience. It can be a roller coaster of emotions…finding the right place…securing the right loan…moving in…etc…etc… For many, your home will be your largest investment. The emotions over such a large and personal purchase can often cloud good business judgment. Many homebuyers do very little research before “diving in” and investing their hard earned money. Before doing that, doesn’t it make sense to be as informed as possible? Below are 10 suggestions to consider when buying a home:
1) Inspect, Inspect and Inspect. Hire a licensed inspector and review the inspection report with a fine toothcomb. For purchases within a Homeowners’ Association (HOA) read all by-laws, CC and R’s and, most importantly, the price of HOA dues. Don’t take anything for granted…inspect everything.
2) Imagine the property vacant. It’s your furniture that will be filling this new residence. Don’t be swayed by the furniture or the clutter…it leaves with the owner.
3) Income + Lifestyle = Mortgage Payment. Sit down with a competent real estate professional, like me, Brad Emens. Be ready to have an honest discussion about your income level and living expenses. Take into account future considerations like: children, add-ons and fix-ups. Your dream home is certainly worth some sacrifice but don’t mortgage your entire future.
4) View Several Homes. See at least 3-5 properties. Don’t move in on the first property you see, but don’t move to slowly either. With your agent’s help you will be able to view enough properties in order to get a good overall perspective of your market. When you find the right property all the legwork will have been worth it.
5) Utilize Your Team. By aligning yourself with the right real estate professional you will have an entire team working for you. Top real estate professionals have lenders, escrow officers, inspection teams- an entire group of trained professionals making the whole buying experience simple and easy for you.
6) Be Aware. Check out all of your costs and expenses before you sign. Some costs may include: utilities, taxes, insurance, maintenance, and HOA dues. Make sure all utilities are turned on (gas, electricity, and water) so that you can inspect everything in working order. Ask questions and be very detail conscious.
7) Do a Final Walk-Through. Visit the property after all the furnishings have been moved out. Be sure that there are no surprises. Be absolutely positive that the property has been left exactly as you had agreed upon in your contract. Many times, things are unintentionally overlooked. This may be spotted in a final walk-through.
8) Plan for Flexibility. Closing dates are not written in stone. Sometimes, you, or the sellers, may need more time to conclude final arrangements. You may need to allow for contingencies and have a back-up plan. Don’t let delays upset or frustrate you. These types of circumstances are not uncommon in a real estate transaction.
9) If It’s Not in Writing, It doesn’t Exist. All promises and discussions must be in writing in order to be enforceable. Don’t make any assumptions or believe any verbal assurances. Have your real estate professional keep an ongoing log of all discussions. Make sure to get the seller’s written approval for all agreements.
10) Loyalty Breeds Loyalty. Be open, honest and up-front with your team. Hard feelings and disloyalty will cause headaches, delays and may even keep you from getting into the home you worked so hard to locate. Take the time to select the right team in the beginning and your home-buying process will be simple, easy, and profitable.
I hope you found my ideas for your home-buying success valuable. If there is any way I can be of service to you, or anyone you care about, please call me, Brad Emens 702-808-3531. Your consultation will be free and you will be under no obligation of any kind. I look forward to hearing from you.
The information provided in this reader was obtained from google.com, interviews, and the Multiple Listing Service (MLS) and is believed to be accurate and true. If your home is currently on the market please do not consider this to be a solicitation; this newsletter is merely for your information. If you would like a comparative market analysis for your home please email me at sgtbrad@cox.net or call me, Brad Emens (702) 808-3531. I live right around the corner. Thank you.
Wednesday, November 29, 2006
December 2006
ONE Las Vegas
The two enormous towers being constructed south of the Blue Diamond Road Interchange is the first high-rise condominium project of its magnitude on the South Strip. The first two towers are just the beginning. According to one-lasvegas.com, “This future 19.5-acre master planned community contains both residential towers and amenities such as a boutique hotel, a 20,000-square-foot health club, and numerous dining venues.” One-lasvegas.com also said, “The place will include five, 18- to 21-story, guard-gated, residential condominium
towers.”
Romana Djurovic, the sales manager for the ONE Las Vegas sales office, said, “People moving here are people who are looking for the lifestyle…they don’t want to cut the grass, pull the weeds, clean their big ol’ house anymore.” She continued, “This will be a true luxury condominium complex with ten-foot ceilings and eight-foot high doorways.”
She also told me, “Prices start at $399,000 and go to $1.7 million.”
Association fees will be $.37 per foot and will cover water, sewage, and trash. Phase one is planned to open Fall 2007. The entire project may be finished by 2010. The five towers may have as many as 890 units.
McCarran International Airport, the new I-15/Blue Diamond Road Interchange, and the Bruce Woodbury Beltway (I215) are only blocks away. ONE might be a good place to buy. If you are interested in learning more about this amazing development call me, Brad Emens 702-808-3531.
I-15 at Blue Diamond Road Interchange
The long over due off-ramp to Blue Diamond Road at Interstate 15 is nearly complete. According to SANDSTONEONLINE, the official Clark County Newsletter, “The estimated cost of phase 1 is $23 million.” The newsletter goes on to say, “Phase 1 will be the new I-15 at Blue Diamond Interchange as well as the realignment and widening of SR-160 (Blue Diamond Road) from the interchange to Valley View.”
Josh Mendenhall, a supervisor from Las Vegas Paving Corp, told me, “The entire project should be finished by mid-December.” He continued, “It is way late…definitely a need for the public and businesses in the area.” Mendenhall also stated, “These projects are done to make life easier for everyone.” The completion of this project will accelerate the development of our area. The west side of our valley, including Southern Highlands and Mountain’s Edge, are sure signs that Las Vegas is only getting bigger.
I-15 at Silverado Ranch Boulevard Interchange
The I-15 at Silverado Ranch Boulevard/ Gomer Road Interchange has been a bit of a mystery. Silverado Ranch Boulevard turns into Gomer Road at Jones Boulevard. According to Nevada Department of Transportation, “The proposed improvement will be an interchange with a six-lane overpass and dual left turn lanes over I-15 on Silverado Ranch Boulevard.”
An article in the May 21st, 2003, Las Vegas Review Journal, stated, “A study completed several years ago by the Nevada Department of Transportation identified Gomer Road/Silverado Ranch Boulevard, Cactus Avenue, Pebble Road and Starr Avenue as sites for future interchanges as the south valley develops.” The article goes on to say, “Gomer Road/Silverado Ranch Boulevard surfaced as the first candidate because it is located halfway between the Blue Diamond and St. Rose Interchanges.”
On August 23rd, 2006 ROAD WARRIOR Q&A, a column in the Las Vegas Review Journal, stated, “Work should start (on the interchange) sometime after Labor Day weekend…with completion expected by the end of September 2007.” This $39 million interchange will allow residents better access to Silverado Ranch by as early as this time next year! I will report more as the development takes place.
St Rose Parkway at Interstate 15
Another great improvement to our Valley’s infrastructure is SR 146, or St. Rose Parkway; in the southwest part of our valley. According to Nevada Department of Transportation, “Phase 2A of this major project will reconstruct the I-15/Saint Rose Parkway Interchange and widen Saint Rose Parkway to eight lanes from Southern Highlands Parkway to Gillespie Street.” This project is estimated to cost $42,000,000. Bob McKenzie, from Nevada Department of Transportation, told me, “We can expect to use this new interchange by as soon as mid-2008.”
Major Commercial Development
Another area that has caught my attention is the, now vacant, land south of Cactus Avenue, between Maryland Parkway and Spencer Street. The City of Henderson owns most of the 95+/- acre lot. This land is currently zoned general industrial.
According to Development Code of Henderson Nevada, “ Land deemed general industrial allows for the operation of general industry, manufacturing, extraction, salvage, and related activities.” Something major is going on there.
Gravel pit meeting
Romana Djurovic, the sales manager for the ONE Las Vegas sales office, said, “People moving here are people who are looking for the lifestyle…they don’t want to cut the grass, pull the weeds, clean their big ol’ house anymore.” She continued, “This will be a true luxury condominium complex with ten-foot ceilings and eight-foot high doorways.”
She also told me, “Prices start at $399,000 and go to $1.7 million.”
Association fees will be $.37 per foot and will cover water, sewage, and trash. Phase one is planned to open Fall 2007. The entire project may be finished by 2010. The five towers may have as many as 890 units.
McCarran International Airport, the new I-15/Blue Diamond Road Interchange, and the Bruce Woodbury Beltway (I215) are only blocks away. ONE might be a good place to buy. If you are interested in learning more about this amazing development call me, Brad Emens 702-808-3531.
I-15 at Blue Diamond Road Interchange
The long over due off-ramp to Blue Diamond Road at Interstate 15 is nearly complete. According to SANDSTONEONLINE, the official Clark County Newsletter, “The estimated cost of phase 1 is $23 million.” The newsletter goes on to say, “Phase 1 will be the new I-15 at Blue Diamond Interchange as well as the realignment and widening of SR-160 (Blue Diamond Road) from the interchange to Valley View.”
Josh Mendenhall, a supervisor from Las Vegas Paving Corp, told me, “The entire project should be finished by mid-December.” He continued, “It is way late…definitely a need for the public and businesses in the area.” Mendenhall also stated, “These projects are done to make life easier for everyone.” The completion of this project will accelerate the development of our area. The west side of our valley, including Southern Highlands and Mountain’s Edge, are sure signs that Las Vegas is only getting bigger.
I-15 at Silverado Ranch Boulevard Interchange
The I-15 at Silverado Ranch Boulevard/ Gomer Road Interchange has been a bit of a mystery. Silverado Ranch Boulevard turns into Gomer Road at Jones Boulevard. According to Nevada Department of Transportation, “The proposed improvement will be an interchange with a six-lane overpass and dual left turn lanes over I-15 on Silverado Ranch Boulevard.”
An article in the May 21st, 2003, Las Vegas Review Journal, stated, “A study completed several years ago by the Nevada Department of Transportation identified Gomer Road/Silverado Ranch Boulevard, Cactus Avenue, Pebble Road and Starr Avenue as sites for future interchanges as the south valley develops.” The article goes on to say, “Gomer Road/Silverado Ranch Boulevard surfaced as the first candidate because it is located halfway between the Blue Diamond and St. Rose Interchanges.”
On August 23rd, 2006 ROAD WARRIOR Q&A, a column in the Las Vegas Review Journal, stated, “Work should start (on the interchange) sometime after Labor Day weekend…with completion expected by the end of September 2007.” This $39 million interchange will allow residents better access to Silverado Ranch by as early as this time next year! I will report more as the development takes place.
St Rose Parkway at Interstate 15
Another great improvement to our Valley’s infrastructure is SR 146, or St. Rose Parkway; in the southwest part of our valley. According to Nevada Department of Transportation, “Phase 2A of this major project will reconstruct the I-15/Saint Rose Parkway Interchange and widen Saint Rose Parkway to eight lanes from Southern Highlands Parkway to Gillespie Street.” This project is estimated to cost $42,000,000. Bob McKenzie, from Nevada Department of Transportation, told me, “We can expect to use this new interchange by as soon as mid-2008.”
Major Commercial Development
Another area that has caught my attention is the, now vacant, land south of Cactus Avenue, between Maryland Parkway and Spencer Street. The City of Henderson owns most of the 95+/- acre lot. This land is currently zoned general industrial.
According to Development Code of Henderson Nevada, “ Land deemed general industrial allows for the operation of general industry, manufacturing, extraction, salvage, and related activities.” Something major is going on there.
Gravel pit meeting
Wouldn’t it be great if the 75-acre gravel pit, located near Amigo Street at Cactus Avenue, served a dual purpose? The land is zoned P-F, or public facility, and will be used as a detention basin. I would be thankful if the basin were also used as a park and a recreation center for the community with plenty of room for parking. The next meeting, regarding the gravel pit, is scheduled for 6:30 pm on December 14th, 2006. It will be held near Las Vegas Boulevard at Shelbourne Avenue in the Enterprise Library.
There are nearly 3,000 homes, and more than a dozen associations, that surround the gravel pit nowadays. I want the gravel pit operators to be held accountable and take responsibility for their actions.
What is being built east of Roberto’s Taco Shop?
The construction project east of Roberto’s Taco Shop, on the east side of Bermuda Road and north of Cactus Avenue, will be a luxury, 100-unit, mid-rise, condominium project. According to Jerry Stogne, a construction superintendent for Dayside Inc., “The project will be four stories tall…three residential floors on top of a garage.” The project is called Milano Residences and is located at 430 E. Cactus Avenue. According to milanoresidences.com, “Units start in the mid 200’s.” The website also reported, “Coming summer 2006.”
I even mailed the owners of the property to find out more up-to-date information. To learn more about theses condominiums call me, Brad Emens 702-808-3531. I am happy to help.
The information provided in this reader was obtained from google.com and interviews and is believed to be accurate and true.
Next issue; St. Rose Parkway, at Maryland Parkway, Gated, custom home community near Pyle Avenue at Bermuda Road, and what happens at the community meeting?
There are nearly 3,000 homes, and more than a dozen associations, that surround the gravel pit nowadays. I want the gravel pit operators to be held accountable and take responsibility for their actions.
What is being built east of Roberto’s Taco Shop?
The construction project east of Roberto’s Taco Shop, on the east side of Bermuda Road and north of Cactus Avenue, will be a luxury, 100-unit, mid-rise, condominium project. According to Jerry Stogne, a construction superintendent for Dayside Inc., “The project will be four stories tall…three residential floors on top of a garage.” The project is called Milano Residences and is located at 430 E. Cactus Avenue. According to milanoresidences.com, “Units start in the mid 200’s.” The website also reported, “Coming summer 2006.”
I even mailed the owners of the property to find out more up-to-date information. To learn more about theses condominiums call me, Brad Emens 702-808-3531. I am happy to help.
The information provided in this reader was obtained from google.com and interviews and is believed to be accurate and true.
Next issue; St. Rose Parkway, at Maryland Parkway, Gated, custom home community near Pyle Avenue at Bermuda Road, and what happens at the community meeting?
Tuesday, September 19, 2006
September 2006
HELLO, MY NAME IS BRAD EMENS
Living right here in the Silverado Ranch area affords me an “AAA” mentality. That stands for ACCURATE-ACUTE-ANALYSIS” of “What’s going on here?” in the real estate market. (See GAVEL PIT story below)
With almost 10 years in residency here, my mental pulse beat is tuned into the nature and essence of our neighborhood and that’s vital to marketing properties here. With all the Glitz and Glitter of this most vibrant city comes issues, so, let’s look at an ongoing one…
GRAVEL PIT IN SILVERADO RANCH
I started my South Valley Reader, in August 2004, the question I am most frequently asked is, “What’s the deal with the gravel pit in our community?” This gravel pit operated, by Impact Sand and Gravel, is located on the 75+/- acre lot on the northeast corner of Cactus Avenue at Amigo Street. The mine has been in operation for more than ten years and is zoned P-F or Public Facility. The land is destined to be used as a detention basin to help control flooding. According to Louis Cervantez, a general manager for Impact Sand and Gravel, “The land will be left as a serviceable basin by 2010 with an agreement that the county will maintain it.” Cervantez also said, “What the company (Impact Sand and Gravel) did was make a deal with the county…We would dig out the basin if Clark County would allow us to have and crush some of the material and sell it.” This type of material, crushed rock, is necessary for construction and development in our area.
Development of our valley requires the presence of these gravel pits. If you have any questions or concerns regarding the gravel pit there is a meeting on September 28 at 6:30 PM in the Antigua Condominium clubhouse, 1050 East Cactus. At this time I would like form a neighborhood committee. If you have questions, comments, or concerns about our community that you would like addressed please write, email, or call me directly at 702-808-3531. My address is 7220 S. Bermuda Road, Las Vegas, NV 89119. It will not always be a gravel pit!
WHAT IS NEXT TO 7-11?
Now under development, next to Jack In the Box and across Silverado Ranch Boulevard from Wal-Mart Neighborhood Market, is a...
NEW NEIGHBORHOOD BANK
Citibank is soon arriving at the southeast corner of Bermuda Road at Silverado Ranch Boulevard. Appeal to potential customers may include its worldwide operations and this branch’s freestanding structure. This bank is not connected with any other type of business providing an exclusive environment.
NEW JOBS
As our infrastructure continues to grow new jobs created will infuse more circulation dollars to our community.
BUYERS’ - OR SELLERS’ MARKET?
Inventory time gives us the answer…With the greater Las Vegas real estate inventory of 21,398 homes for sale and 2,805 sold in August 2006 (factors to 7.63 months of inventory selling per *) is a sharp decrease vs. last year of 4,598 sold in August 2005.
Here is more information I found on las.mlxchange.com:
February 2003-August2003 21,530 homes sold
February 2004-August2004 28,981 homes sold
February/2005-August2005 27,712 homes sold
February/2006-August2006 20,688 homes sold
ANSWER: It truly is a buyers’ market.
*Numbers reflect resale properties only. New home data not included.
YOUR POWER
Despite being a Buyers’ market, plus the traditional seasonal slowdown heading towards the years end, you have the power, the ability, to effectively move your property. Here’s how…
Tip # 1 Hire a Realtor you trust. This is another solution to getting top dollar for your home. The amount, and type, of exposure your home gets can be measured in the amount of traffic you get. If you put up a “For Sale By Owner” sign the only people who know your home is for sale are our neighbors and the people out driving around looking for a deal.Tip # 2 Set your price right. It is very difficult and expensive to sell an overpriced house. One way to find the true value of your home is by comparing it to similar homes that recently sold in the area and, more importantly, the entire Las Vegas Valley. (If you want to compare your home to other houses that have sold feel free to call me, Brad Emens (702) 808-3531. I will be glad to give you a comparative market analysis.)Tip # 3 Prepare your home before putting a “For Sale” sign up. Help sell your home with low cost cosmetic steps. Hire a professional cleaning service to give your home a deep clean, cut the grass, clean up the outside, paint drab walls and remove the clutter of daily living. Why? Because people buy homes that appear clean, solid and well maintained.Tip # 4 Sell your house with an “Open House.” Kick off your home selling campaign with an open house. Invite all the neighbors for blocks around to your house. Show them your home's best points and tell them your price. Why? Because neighbors are the best promoters of the neighborhood and they all have friends and family who buy homes.If you want to learn how to effectively market you home, or you know someone that does, call me, Brad Emens (702) 808-3531.
Next month I will report on ONE Las Vegas, the Silverado Ranch Interchange, and give you an update on the I15 at Blue Diamond Interchange
Friday, July 14, 2006
July 2006
From St. Rose Parkway to Silverado Ranch Boulevard
Recently I received a letter from the United States Post Office. The letter told me, “The continuous population growth of the Las Vegas Valley requires that the Postal Service assign additional ZIP codes.” This means that residents in the effected area of 89123 must now use 89183. The effected area is south of Silverado Ranch Boulevard and north of St Rose Parkway, from Interstate 15 in the west, to Eastern Avenue in the east, roughly. This change will go into affect on July 1st, 2006. The letter also stated that, “After July 1, 2006 customers will need to notify those they correspond with of the new ZIP code within one year.” But do not worry about having your mail lost in the near future.
An article in the Las Vegas Sun said, “The Postal Service is giving residents and businesses an extra year to make the adjustment. Beginning in July 2007 letters with the wrong ZIP code could be returned to the sender.” New ZIP codes are to be expected in a region growing as rapidly as Silverado Ranch. The article also stated that, “The Postal Service tends to create new ZIP codes for newer developed areas with the greatest potential for growth.” So, if you are reading this story your new zip code is 89183.
Construction on South the South-Valley
picture is only simulation
Our area is getting ready for some major changes. According to an article in the June 4th, 2006, Las Vegas Sun, “Focus Property Group wants to build an extra 3,000 homes to support a…resort casino and commercial project.” The January 2005 South- Valley Reader, reported, “Focus property Group, and a consortium of seven homebuilders, bought 1,940 acres near the Henderson Executive Airport.” The article in the Sun also stated, “Focus Property Group has petitioned the city (of Henderson) for a 38 percent increase in the housing density at its Inspirada development, raising the number of units from 11,500 to 14,500.” Inspirada is a proposed, high density, master planned community.
Inspirada.com states, “Located in the southern foothills of the Las Vegas Valley, Inspirada is a nearly 2,000-acre town unto itself…a blend of architectural styles and amenities where neighborhoods are centered around public parks and gathering spaces. It is a (future) community in which residential villages, featuring choices from brownstones to estate homes, surround a city center filled with restaurants, shops, offices and other commercial amenities.” Focus Property Group plans to build this master planned community, and a casino, west of Sun City Anthem.
City Crossing by Plise Cos.
Plise Cos. is another developer that has an interest in the South-Valley. Plise Cos., a Las Vegas based commercial real estate development firm that has already developed more than 7 million square feet of commercial property in Southern Nevada, will be developing City Center. On June 2, 2006 an article in inbusinesslasvegas.com stated, “City Crossing is a 6 million-square-foot project that will include office, retail and residential space…with office buildings as tall as nine stories.” Inbusinesslasvegas.com also stated, “Henderson recently approved the project and the zoning change needed for this project.” The entire stretch of now nearly vacant land from St. Rose Parkway, near the Henderson Executive Airport, to Anthem is about to change. I will report more when information is released.
Anchor Tenant on South Eastern Avenue near Silverado Ranch
Between Serene Avenue and Silverado Ranch Boulevard, on Eastern Avenue, there is an expansive corridor of commercial construction projects being built by Bentar Development and Sansone Development.
On June 16, 2006 I spoke with Mike Rafferty. Rafferty is a superintendent for Bentar Development, the builder of the office/retail complex now under construction next to the Latigo Condominiums, on the west side of Eastern Avenue and north of Silverado Ranch Boulevard. Rafferty told me, “There are two more buildings planned for this site.” He went on to tell me, “The one to the north may be a Carl’s Jr. and the one to the south will be another office/retail center.”
On the east side of Eastern Avenue there is a major shopping center being built. This complex, north of Red Robin Gourmet Burger Restaurant, is where the anchor tenant will be. The anchor tenant will be Big 5 Sporting Goods. According to ask.com, “An anchor tenant is a major tenant in a shopping center such as a national grocery or department store.” On June 19, 2006 I spoke to a representative, who wished to remain anonymous, from Platinum Realty and Development, the real estate agency in charge of leasing to future merchants. He told me, “Big 5 will be the anchor tenant.” I also asked him what else there might be and he said, “There may be an Indian Restaurant, a deli, and a sports bar.” In this same complex I also noticed a sign for a gourmet sushi and seafood buffet called Makino. If you have ever been to a Makino Buffet, like the one at the corner of Flamingo Road at Decatur Boulevard, then you too must anxiously await this new addition to our community.
Both of the above construction projects should be finished by early September 2006. This type of development should bring hundreds of jobs to our area. I hope a future leaseholder in this plaza will be a major bookstore, like a B. Dalton or Border’s Bookstore.
Jeffrey’s Street at Dave Street
Back in January 2005, a member of our community asked me about the future of the intersection of Jeffery’s at Dave. A couple of weeks ago I noticed a sign that advertised, “Venū sales center opening fall 2006.” This sign also referred to a website. The website Liveatvenue.com, says, “Venū is like a deep cleansing breath of fresh air. You’ll love the cool energy of an urban setting…with intimate neighborhood cafés, local restaurants and shops.” The website continues, “To you “low maintenance” means more time, more time for pursuing your passions and recreational pleasures. You belong at Venū, our urban oasis coming soon to the St. Rose area of Henderson, just southeast of Las Vegas.” When more information is released I will let you know. Thank you again. As always, I welcome your questions.
Tuscany by Rhodes Homes
Have you ever driven east on Lake Mead Parkway, past Downtown Henderson, on the Bruce Woodbury Beltway (I215 East), to Tuscany by Rhodes Homes? This second Rhodes Homes, master planned, community is situated on Tuscany Golf Course. Rhodeshomes.com says Tuscany Village is “offering country club living without country club prices.”
Here are current price ranges for the communities currently under construction:
Avellino at Tuscany: $597,825-$757,575
Montebello at Tuscany: $388,575-$639,325
La Luna: $384,075-$538,825
La Piazza: $367,325-$466,575
Tuscany Village will be built with lessons learned from previous master planned communities and is sure to amaze even the most skeptical. If you would like to see these homes personally I am happy to show you. Thanks, Brad Emens 702-808-3531.
Scroll down, past May, to see links to each of the Tuscany communities...
Letter to the Board
On June 23, 2006, I, Brad Emens, a member of the Silverado Ranch Community, wrote a letter to the ten Home Owner’s Associations that currently surround the gravel pit located at the corner of Amigo Road and Cactus Avenue. I feel it will not always be a gravel pit. Here is the letter I wrote:
To Whom It May Concern:
On June 12, 2003 Clark County Board of County Commissioners met and approved UC-2093-96 subject to conditions. One of those conditions was to “hold monthly meetings with a neighborhood committee to address all issues affecting the neighborhood.” (1)
Unbeknownst to many, the community meeting has been tentatively scheduled for next Thursday, June 29, 2006 at 6:30 P.M in the Antigua Condominium Clubhouse; 1050 E Cactus.
My goal is to get the surrounding community involved in the future of our neighborhood. The only way I feel we can do this is by holding the operators of the mine, Impact Sand and Gravel, accountable for the conditions set forth by our Commissioners.
We must form a committee comprised of no less than one member from each of the ten current surrounding associations. With help from the community we can make our lives better. I want attendance from, at least, the president of each Home Owners’ Association.
Sincerely,
Brad Emens
808-3531
(1) Department of Development Services Current Planning Division; Notice of Final Action: June 12, 2003 (Ref: UC-2093-96)
In the next issue of the South Valley Reader I, Brad Emens, will report what happened at the meeting.
Below are the 10 Surrounding C.I.C.s (Common Interest Community)
01. Liberty at Silverado Ranch Prescott Mgt. 215-4670 (F) 215-4672
237 homes
02. Silverado Place Excellence 638-7770 (F) 638-7772
431 homes
03. Canyons 3 Carousel Services 739-9992 (F) 739-8123
320 homes
04. Canyons 4 Carousel Services 739-9992 (F) 739-8123
100 homes
05. Silverado Courts Carousel Services 739-9992 (F) 739-8123
628 homes
06. Silverado Terrace Carousel Services 739-9992 (F) 739-8123
525 homes
07. Seasons Benchmark 795-3344 (F) 795-3346
244 homes
08. Antigua HOA Benchmark 795-3344 (F) 795-3346
264 homes
09. Mission Point Condo Complete Mgt 531-3382 (F) 531-3392
248 homes
10. Silver Creek Ranch Complete Mgt 531-3382 (F) 531-3392
125 homes
The United States of Americas’ Independence Day
On July 4, 1776, Thomas Jefferson, and our founding forefathers, claimed independence from Britain by writing the Declaration of Independence to the King of England. That was when Democracy was born. Before 1776, the American colonies were ruled by England. The original Declaration of Independence is on display at the Smithsonian Museum in Washington, DC. Here are a few lines from this legendary document:
"We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable rights, that among these are Life, Liberty, and the pursuit of Happiness."
Every year thousands of people leave their homeland to come to the "land of the free and the home of the brave" so they can begin their American Dream. I am proud to be an American and, “I pledge allegiance to the flag of the United States of America, and to the Republic for which it stands. One nation under God, indivisible, with liberty and justice for all.”
The Pledge of Allegiance was written by Francis Bellamy and printed in a Boston magazine on September 8, 1892. The first pledge read, "I pledge allegiance to my flag and the republic for which it stands, one nation, indivisible, with liberty and justice for all." The words "of the United States of America" were added later. On Flag Day, 1954, President Eisenhower signed a law that added the words "under God" to the pledge.
Ready to Trade-In Your Home?Perhaps You Should Remodel Instead!
By Mark McGarry
First United MORTGAE
Each year, millions of Americans move into the home of their dreams. As time goes by, families expand, kids grow older, and suddenly that home isn't quite so perfect anymore. Or perhaps you still love your home, but you really want a gourmet kitchen and a larger master bedroom. Should you start looking for a new house? Or would it be better to stay where you are and remodel instead?
Moving: A good local real estate agent should be able to assist you with estimates on these numbers.
· How much will it cost to purchase a home that will meet your needs?
· How much could you sell your existing home for? Don't forget to subtract the agent's commission from this total.
· What will it cost to move? According to real estate consultant and best-selling author of Remodel or Move, Dan Fritschen, a typical move costs 10% of the value of your home.
· How much will your property taxes increase as a result of the move?
Remodeling:
· What projects do you want to have done and how much will they cost? An architect or general contractor will be able to assist you with these figures.
· How much will the improvements add to the value of your home, also known as the "payback"? A local real estate agent can assist with this as well.
If the decision about whether to renovate or move were purely a financial one, then it would be quite easy to look at the numbers and come to the right conclusion. However, there are also emotional factors that come into play, and they have a value as well. Let's consider some examples.
Reasons you may want to move:
· If you relocate to a new neighborhood, your children could attend superior schools.
· You would like to reduce your commute or have better access to local amenities, such as restaurants and shopping.
· You're not particularly fond of your current neighborhood.
· Your yard is too small, and you cannot expand it.
Reasons you may want to stay and remodel:
· You're happy with your location. It's convenient, you love your neighbors, and the schools are either excellent or are not a factor.
· You love the layout of your home.
· All you need is a little more space, and your home will be perfect.
Of course only you know what is truly important for your happiness, so try to use these questions as a starting point. Create a list of the pros and cons of each scenario and leave it someplace accessible, so that you and your spouse can add to it as you think of additional factors. You may also want to consider attending open houses and visiting new housing developments to see what is available and how your home compares.
Once you've completed your list and your financial assessment, it's time to draw some conclusions. Are the numbers and the emotional factors pointing you in a clear direction? If you're still feeling unsure and would like some additional assistance, you may want to read Dan Fritschen's book, Remodel or Move, or visit his website at www.remodelormove.com. Both contain a calculator that will assist you with the difficult task of quantifying the ramifications of your decision. In addition, you can learn tips to assist you with the next step, after you've determined what it will be.
If you choose to remodel, then you'll need to have a clear idea of what you want to accomplish before finalizing any details with the contractor or architect. One of the most expensive things you can do is change the project midstream.
If you decide to move, then there are low-cost improvements you can make to your existing home that will help it to sell more quickly. The kitchen and the bathrooms provide the biggest return on investment in this area.
Whether you decide to remodel or buy a new home, it's important to ensure that you have proper financing in place prior to moving forward. If you decide to purchase a home, a mortgage originator will help you to determine how much you can afford, as well as which loan package works best with your overall financial plan. In the case of remodeling, you should meet with a mortgage professional before any construction takes place. Otherwise you may severely limit the type of financing options available to you.
Recently I received a letter from the United States Post Office. The letter told me, “The continuous population growth of the Las Vegas Valley requires that the Postal Service assign additional ZIP codes.” This means that residents in the effected area of 89123 must now use 89183. The effected area is south of Silverado Ranch Boulevard and north of St Rose Parkway, from Interstate 15 in the west, to Eastern Avenue in the east, roughly. This change will go into affect on July 1st, 2006. The letter also stated that, “After July 1, 2006 customers will need to notify those they correspond with of the new ZIP code within one year.” But do not worry about having your mail lost in the near future.
An article in the Las Vegas Sun said, “The Postal Service is giving residents and businesses an extra year to make the adjustment. Beginning in July 2007 letters with the wrong ZIP code could be returned to the sender.” New ZIP codes are to be expected in a region growing as rapidly as Silverado Ranch. The article also stated that, “The Postal Service tends to create new ZIP codes for newer developed areas with the greatest potential for growth.” So, if you are reading this story your new zip code is 89183.
Construction on South the South-Valley
picture is only simulationOur area is getting ready for some major changes. According to an article in the June 4th, 2006, Las Vegas Sun, “Focus Property Group wants to build an extra 3,000 homes to support a…resort casino and commercial project.” The January 2005 South- Valley Reader, reported, “Focus property Group, and a consortium of seven homebuilders, bought 1,940 acres near the Henderson Executive Airport.” The article in the Sun also stated, “Focus Property Group has petitioned the city (of Henderson) for a 38 percent increase in the housing density at its Inspirada development, raising the number of units from 11,500 to 14,500.” Inspirada is a proposed, high density, master planned community.
Inspirada.com states, “Located in the southern foothills of the Las Vegas Valley, Inspirada is a nearly 2,000-acre town unto itself…a blend of architectural styles and amenities where neighborhoods are centered around public parks and gathering spaces. It is a (future) community in which residential villages, featuring choices from brownstones to estate homes, surround a city center filled with restaurants, shops, offices and other commercial amenities.” Focus Property Group plans to build this master planned community, and a casino, west of Sun City Anthem.
City Crossing by Plise Cos.
Plise Cos. is another developer that has an interest in the South-Valley. Plise Cos., a Las Vegas based commercial real estate development firm that has already developed more than 7 million square feet of commercial property in Southern Nevada, will be developing City Center. On June 2, 2006 an article in inbusinesslasvegas.com stated, “City Crossing is a 6 million-square-foot project that will include office, retail and residential space…with office buildings as tall as nine stories.” Inbusinesslasvegas.com also stated, “Henderson recently approved the project and the zoning change needed for this project.” The entire stretch of now nearly vacant land from St. Rose Parkway, near the Henderson Executive Airport, to Anthem is about to change. I will report more when information is released.
Anchor Tenant on South Eastern Avenue near Silverado Ranch
Between Serene Avenue and Silverado Ranch Boulevard, on Eastern Avenue, there is an expansive corridor of commercial construction projects being built by Bentar Development and Sansone Development.
On June 16, 2006 I spoke with Mike Rafferty. Rafferty is a superintendent for Bentar Development, the builder of the office/retail complex now under construction next to the Latigo Condominiums, on the west side of Eastern Avenue and north of Silverado Ranch Boulevard. Rafferty told me, “There are two more buildings planned for this site.” He went on to tell me, “The one to the north may be a Carl’s Jr. and the one to the south will be another office/retail center.”
On the east side of Eastern Avenue there is a major shopping center being built. This complex, north of Red Robin Gourmet Burger Restaurant, is where the anchor tenant will be. The anchor tenant will be Big 5 Sporting Goods. According to ask.com, “An anchor tenant is a major tenant in a shopping center such as a national grocery or department store.” On June 19, 2006 I spoke to a representative, who wished to remain anonymous, from Platinum Realty and Development, the real estate agency in charge of leasing to future merchants. He told me, “Big 5 will be the anchor tenant.” I also asked him what else there might be and he said, “There may be an Indian Restaurant, a deli, and a sports bar.” In this same complex I also noticed a sign for a gourmet sushi and seafood buffet called Makino. If you have ever been to a Makino Buffet, like the one at the corner of Flamingo Road at Decatur Boulevard, then you too must anxiously await this new addition to our community.
Both of the above construction projects should be finished by early September 2006. This type of development should bring hundreds of jobs to our area. I hope a future leaseholder in this plaza will be a major bookstore, like a B. Dalton or Border’s Bookstore.
Jeffrey’s Street at Dave Street
Back in January 2005, a member of our community asked me about the future of the intersection of Jeffery’s at Dave. A couple of weeks ago I noticed a sign that advertised, “Venū sales center opening fall 2006.” This sign also referred to a website. The website Liveatvenue.com, says, “Venū is like a deep cleansing breath of fresh air. You’ll love the cool energy of an urban setting…with intimate neighborhood cafés, local restaurants and shops.” The website continues, “To you “low maintenance” means more time, more time for pursuing your passions and recreational pleasures. You belong at Venū, our urban oasis coming soon to the St. Rose area of Henderson, just southeast of Las Vegas.” When more information is released I will let you know. Thank you again. As always, I welcome your questions.
Tuscany by Rhodes HomesHave you ever driven east on Lake Mead Parkway, past Downtown Henderson, on the Bruce Woodbury Beltway (I215 East), to Tuscany by Rhodes Homes? This second Rhodes Homes, master planned, community is situated on Tuscany Golf Course. Rhodeshomes.com says Tuscany Village is “offering country club living without country club prices.”
Here are current price ranges for the communities currently under construction:
Avellino at Tuscany: $597,825-$757,575
Montebello at Tuscany: $388,575-$639,325
La Luna: $384,075-$538,825
La Piazza: $367,325-$466,575
Tuscany Village will be built with lessons learned from previous master planned communities and is sure to amaze even the most skeptical. If you would like to see these homes personally I am happy to show you. Thanks, Brad Emens 702-808-3531.
Scroll down, past May, to see links to each of the Tuscany communities...
Letter to the Board
On June 23, 2006, I, Brad Emens, a member of the Silverado Ranch Community, wrote a letter to the ten Home Owner’s Associations that currently surround the gravel pit located at the corner of Amigo Road and Cactus Avenue. I feel it will not always be a gravel pit. Here is the letter I wrote:
To Whom It May Concern:
On June 12, 2003 Clark County Board of County Commissioners met and approved UC-2093-96 subject to conditions. One of those conditions was to “hold monthly meetings with a neighborhood committee to address all issues affecting the neighborhood.” (1)
Unbeknownst to many, the community meeting has been tentatively scheduled for next Thursday, June 29, 2006 at 6:30 P.M in the Antigua Condominium Clubhouse; 1050 E Cactus.
My goal is to get the surrounding community involved in the future of our neighborhood. The only way I feel we can do this is by holding the operators of the mine, Impact Sand and Gravel, accountable for the conditions set forth by our Commissioners.
We must form a committee comprised of no less than one member from each of the ten current surrounding associations. With help from the community we can make our lives better. I want attendance from, at least, the president of each Home Owners’ Association.
Sincerely,
Brad Emens
808-3531
(1) Department of Development Services Current Planning Division; Notice of Final Action: June 12, 2003 (Ref: UC-2093-96)
In the next issue of the South Valley Reader I, Brad Emens, will report what happened at the meeting.
Below are the 10 Surrounding C.I.C.s (Common Interest Community)
01. Liberty at Silverado Ranch Prescott Mgt. 215-4670 (F) 215-4672
237 homes
02. Silverado Place Excellence 638-7770 (F) 638-7772
431 homes
03. Canyons 3 Carousel Services 739-9992 (F) 739-8123
320 homes
04. Canyons 4 Carousel Services 739-9992 (F) 739-8123
100 homes
05. Silverado Courts Carousel Services 739-9992 (F) 739-8123
628 homes
06. Silverado Terrace Carousel Services 739-9992 (F) 739-8123
525 homes
07. Seasons Benchmark 795-3344 (F) 795-3346
244 homes
08. Antigua HOA Benchmark 795-3344 (F) 795-3346
264 homes
09. Mission Point Condo Complete Mgt 531-3382 (F) 531-3392
248 homes
10. Silver Creek Ranch Complete Mgt 531-3382 (F) 531-3392
125 homes
The United States of Americas’ Independence Day
On July 4, 1776, Thomas Jefferson, and our founding forefathers, claimed independence from Britain by writing the Declaration of Independence to the King of England. That was when Democracy was born. Before 1776, the American colonies were ruled by England. The original Declaration of Independence is on display at the Smithsonian Museum in Washington, DC. Here are a few lines from this legendary document:
"We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable rights, that among these are Life, Liberty, and the pursuit of Happiness."
Every year thousands of people leave their homeland to come to the "land of the free and the home of the brave" so they can begin their American Dream. I am proud to be an American and, “I pledge allegiance to the flag of the United States of America, and to the Republic for which it stands. One nation under God, indivisible, with liberty and justice for all.”
The Pledge of Allegiance was written by Francis Bellamy and printed in a Boston magazine on September 8, 1892. The first pledge read, "I pledge allegiance to my flag and the republic for which it stands, one nation, indivisible, with liberty and justice for all." The words "of the United States of America" were added later. On Flag Day, 1954, President Eisenhower signed a law that added the words "under God" to the pledge.
Ready to Trade-In Your Home?Perhaps You Should Remodel Instead!
By Mark McGarry
First United MORTGAE
Each year, millions of Americans move into the home of their dreams. As time goes by, families expand, kids grow older, and suddenly that home isn't quite so perfect anymore. Or perhaps you still love your home, but you really want a gourmet kitchen and a larger master bedroom. Should you start looking for a new house? Or would it be better to stay where you are and remodel instead?
Moving: A good local real estate agent should be able to assist you with estimates on these numbers.
· How much will it cost to purchase a home that will meet your needs?
· How much could you sell your existing home for? Don't forget to subtract the agent's commission from this total.
· What will it cost to move? According to real estate consultant and best-selling author of Remodel or Move, Dan Fritschen, a typical move costs 10% of the value of your home.
· How much will your property taxes increase as a result of the move?
Remodeling:
· What projects do you want to have done and how much will they cost? An architect or general contractor will be able to assist you with these figures.
· How much will the improvements add to the value of your home, also known as the "payback"? A local real estate agent can assist with this as well.
If the decision about whether to renovate or move were purely a financial one, then it would be quite easy to look at the numbers and come to the right conclusion. However, there are also emotional factors that come into play, and they have a value as well. Let's consider some examples.
Reasons you may want to move:
· If you relocate to a new neighborhood, your children could attend superior schools.
· You would like to reduce your commute or have better access to local amenities, such as restaurants and shopping.
· You're not particularly fond of your current neighborhood.
· Your yard is too small, and you cannot expand it.
Reasons you may want to stay and remodel:
· You're happy with your location. It's convenient, you love your neighbors, and the schools are either excellent or are not a factor.
· You love the layout of your home.
· All you need is a little more space, and your home will be perfect.
Of course only you know what is truly important for your happiness, so try to use these questions as a starting point. Create a list of the pros and cons of each scenario and leave it someplace accessible, so that you and your spouse can add to it as you think of additional factors. You may also want to consider attending open houses and visiting new housing developments to see what is available and how your home compares.
Once you've completed your list and your financial assessment, it's time to draw some conclusions. Are the numbers and the emotional factors pointing you in a clear direction? If you're still feeling unsure and would like some additional assistance, you may want to read Dan Fritschen's book, Remodel or Move, or visit his website at www.remodelormove.com. Both contain a calculator that will assist you with the difficult task of quantifying the ramifications of your decision. In addition, you can learn tips to assist you with the next step, after you've determined what it will be.
If you choose to remodel, then you'll need to have a clear idea of what you want to accomplish before finalizing any details with the contractor or architect. One of the most expensive things you can do is change the project midstream.
If you decide to move, then there are low-cost improvements you can make to your existing home that will help it to sell more quickly. The kitchen and the bathrooms provide the biggest return on investment in this area.
Whether you decide to remodel or buy a new home, it's important to ensure that you have proper financing in place prior to moving forward. If you decide to purchase a home, a mortgage originator will help you to determine how much you can afford, as well as which loan package works best with your overall financial plan. In the case of remodeling, you should meet with a mortgage professional before any construction takes place. Otherwise you may severely limit the type of financing options available to you.
Monday, May 22, 2006
May 2006
Community Meeting Regarding Local Mine
Impact Sand and Gravel’s quarterly meeting was held at the Antigua Condominiums Clubhouse on March 23, 2006 at 6:30 PM. The operator of the mine, Impact Sand and Gravel, is to hold quarterly meetings so that we, the surrounding neighbors, may voice our opinions about this mining operation. At the meeting we discussed a variety of topics including putting a fence around the property in order to keep children from playing on and in the dangerous gravel pit. We also discussed the blasting that happens. Eileen Collins, a neighbor whose backyard borders the gravel pit said, “It shakes my house!”
Louis Cervantes, a representative for Impact Sand and Gravel, also mentioned this property’s “End User.” An “End User” will decide the final, or ultimate, use of this 75-acre lot that is now being used as a gravel pit. Cervantes said, “We will leave the basin per county standards.” The future of the mine is uncertain. I, Brad Emens, do not want it to become something like Duck Creek basin, a barren 95-acre field of dirt, near the intersection of Serene Avenue at Bermuda Road. Therefore, we must come together as a community and voice our concerns so that our local leaders will promote the changes that we would like to see. I will let you know when the next meeting is scheduled.
Another topic that was brought up by Luis Cervantes at the community meeting was the SID planned for our area. A SID, or Special Improvement District, is formed to provide a source of funding for the improvement of a district. On
April 2nd, 2006 I interviewed Ken Lambert, the chief engineer for the expansion of Cactus Avenue. He said, “The project includes the widening of Cactus and full road way improvements.” He continued, “That’s a four lane, one hundred foot wide roadway complete with pavement, curbs, gutters, sidewalks, and streetlights…from Las Vegas Boulevard to Spencer Street.” Lambert followed up by saying, “Only the homes that have unimproved frontage on Cactus Avenue will be assessed.” He also said, “Their assessment will be based on how much frontage they (property owners) have.” Also, the homes that receive this informative newsletter, The South-Valley READER, will not be assessed. Lambert told me, “You paid for that when you paid for your house.”
Potential for a Commercial Corner?
Recently, I was asked about the future of the land located at the intersection of Cactus Avenue at Bermuda Road. All four corners are currently vacant. Here is some information provided by the Clark County Assessor:
1. The northwest corner is owned by LACONIC L P and is 2.5 acres. LACONIC L P paid $200,000 for it in January 1995. It is currently zoned R-E, Rural Estates, or two homes per acre. Because of the Rural Neighborhood Preservation Ordinance of October 2005 the property owners’ cannot apply for a zone change until later this year. Go to http://www.southvalleyreader.blogspot.com/ and enter Rural Neighborhood Preservation into the search engine for more information on this.
2. The northeast corner is called Bermuda Cactus Shopping Center. This land is owned by AMERICAN FOOD & DRUG INC, also known as Albertson’s, and they paid $1,307,250 for it in November 2002. The land is zoned C-2, or General Commercial. It may become a Sav-on Drugstore. Milano Residences LLC owns the construction project east of this northeast corner. According to Maria Kaseko, a planner from Clark County’s Department of Comprehensive Planning, “It will be a 50 foot, 4 story, 100 unit, condominium complex.
3. The southeast, 10-acre, corner lot was purchased by U S CAPITAL LLC for $3,000,000 in October of 2000. On April 4, 2006, I spoke to Teresa Lai from Professional Land Corporation, the real estate agency that is marketing this land. The information she provided to me stated that the land would “permit a 100,000 square foot retail center, anchored by a supermarket and a gas station plus restaurant pads.” This land is currently for sale for $20 MILLION.
4. The southwest, 2.5 acre, corner lot, bordered by The San Rafael Subdivision, is owned by Ronald Costello and Fred & Mary Costello Living Trust. It is zoned R-E, Rural Estates, or two homes per acre. They purchased the land in June 1989 for $28,000. The current owners also may not apply for a zone change until later this year.
If you receive anything from Clark County regarding Public Hearings scheduled for our community, please, let me know and I will be glad to attend in your absence. Remember, I am Brad Emens, REALTOR, 702-808-3531, our area expert.
Is it a good time to sell?
On April 17th, 2006 a curious homeowner from Canyons 3 called me for information on the listing I had at 517 Leap Frog Avenue. A listing is a contract between an owner and a real estate broker to find a qualified buyer. She asked me, “Is it a good time to sell?” She added, “There are so many houses for sale in the neighborhood.” After a brief discussion about the economic law of supply and demand we concluded, “It is a good time to sell, if the price is right.”
To confirm my thoughts, I went to the MLXchange. The MLXchange is a database Realtors use to find and sell homes. Here are some of the facts I found on April 17th, 2006. These numbers do not include properties for sale by owner.
There were 11 homes for sale in Canyons 3 with 2 more in contract for sale; this means there has been an accepted offer.
I expanded my search to include the entire Las Vegas Valley:
There were 13,667 homes for sale and an additional 3,834 homes in contract. This means just over 28% of homes are getting acceptable offers.
I also found that the most unpredictable segments in our real estate market were in $500,000-$800,000 price ranges:
There were 2,450 homes for sale and only 427 in contract for sale. This means only 17.4% are getting accepted offers. I also noted that in this price range there were 1,692 homes that had expired or were withdrawn since this time last year. That is more than half!
Some lenders’ general rule of thumb: a household might be able to afford 3 times their household income as a purchase price, or total loan amount, for a home. Example: Household Income =$100,000 3X$100,000=$300,000 A household that makes $100,000 a year might be able to afford a $300,000 mortgage). According to the 2006 Las Vegas Perspective (page 7) 14.2% of households in southern Nevada make more than $100,000 per year. So, in conclusion, if you want to sell your home, the best marketing tool is your asking price.
I Wish I had a Crystal Ball!
According to Clark County’s website, “On January 5th, 2005, the County Commission approved an innovative ordinance designed to guide the development of mixed-use projects, including high rises, on the Las Vegas Strip and other designated areas within the county.” This explains why the distinctive high-rise cranes have sprouted up all over our valley. The “South Strip” will be another area where we can expect to see more upward development. In Business Las Vegas reported on May 5, 2006 that, “There are mid-rise projects under development throughout the valley, although the majority of projects and the largest of them are located on Las Vegas Boulevard near Serene.”
On April 15th, 2006 I attended a VIP sales event for Urban Village. Brian Chan, an agent for Blue Tipping Group, the real estate firm for Urban Village, opened by saying, “Las Vegas is all about lifestyle.” I felt that the meeting was very ambiguous, but we did learn Centex Corporation would begin the master planned community by marketing Brownstones. We were also told that there may be twelve floor plans and the prices may range from $375,000-$795,000. When more information is released I will let you know.
Picture is only simulation
Casa Vegas Apartment Homes
On May 5th, 2006 a listing I had sold for $200,000. This 2-bedroom/1-bathroom, 863 square foot condominium was in the Casa Vegas Apartment Homes located southeast of Downtown between Maryland Parkway and La Canada Street. At a redevelopment meeting, held on December 5th, 2005, I found out about a potential developer who will trade an existing condominium for a brand new condominium in the first tower of a luxury, four-tower, high-rise complex. This proposed project might be built on the 18-acre lot where Casa Vegas Apartment Homes now exists.
On April 19th, 2006 I spoke with Bob Klein, a planner from Clark County’s Comprehensive Planning. He said, “Under current code the highest structure able to be built may be 55 feet with a non-conforming use permit.”
At a meeting held on May 1st, 2006, First American Property Advisors’ President, Mike Moloney, said, “The Federal Aviation Administration has approved a height of 317 feet and permits will be pulled later.” First American Property Advisors is the real estate firm for Casa Vegas home owners. REDEVCOR Inc. is the organization that has provided the redevelopment information. Moloney added, “Zoning will be in place after escrow closes.” Escrow is the time it takes a title company to perform necessary research and paperwork to transfer titles to a new owner. Scott Ervin, CEO and Managing Director of REDEVCOR Inc., was not available for comment.
Impact Sand and Gravel’s quarterly meeting was held at the Antigua Condominiums Clubhouse on March 23, 2006 at 6:30 PM. The operator of the mine, Impact Sand and Gravel, is to hold quarterly meetings so that we, the surrounding neighbors, may voice our opinions about this mining operation. At the meeting we discussed a variety of topics including putting a fence around the property in order to keep children from playing on and in the dangerous gravel pit. We also discussed the blasting that happens. Eileen Collins, a neighbor whose backyard borders the gravel pit said, “It shakes my house!”
Louis Cervantes, a representative for Impact Sand and Gravel, also mentioned this property’s “End User.” An “End User” will decide the final, or ultimate, use of this 75-acre lot that is now being used as a gravel pit. Cervantes said, “We will leave the basin per county standards.” The future of the mine is uncertain. I, Brad Emens, do not want it to become something like Duck Creek basin, a barren 95-acre field of dirt, near the intersection of Serene Avenue at Bermuda Road. Therefore, we must come together as a community and voice our concerns so that our local leaders will promote the changes that we would like to see. I will let you know when the next meeting is scheduled.
Another topic that was brought up by Luis Cervantes at the community meeting was the SID planned for our area. A SID, or Special Improvement District, is formed to provide a source of funding for the improvement of a district. On
April 2nd, 2006 I interviewed Ken Lambert, the chief engineer for the expansion of Cactus Avenue. He said, “The project includes the widening of Cactus and full road way improvements.” He continued, “That’s a four lane, one hundred foot wide roadway complete with pavement, curbs, gutters, sidewalks, and streetlights…from Las Vegas Boulevard to Spencer Street.” Lambert followed up by saying, “Only the homes that have unimproved frontage on Cactus Avenue will be assessed.” He also said, “Their assessment will be based on how much frontage they (property owners) have.” Also, the homes that receive this informative newsletter, The South-Valley READER, will not be assessed. Lambert told me, “You paid for that when you paid for your house.”Potential for a Commercial Corner?
Recently, I was asked about the future of the land located at the intersection of Cactus Avenue at Bermuda Road. All four corners are currently vacant. Here is some information provided by the Clark County Assessor:
1. The northwest corner is owned by LACONIC L P and is 2.5 acres. LACONIC L P paid $200,000 for it in January 1995. It is currently zoned R-E, Rural Estates, or two homes per acre. Because of the Rural Neighborhood Preservation Ordinance of October 2005 the property owners’ cannot apply for a zone change until later this year. Go to http://www.southvalleyreader.blogspot.com/ and enter Rural Neighborhood Preservation into the search engine for more information on this.
2. The northeast corner is called Bermuda Cactus Shopping Center. This land is owned by AMERICAN FOOD & DRUG INC, also known as Albertson’s, and they paid $1,307,250 for it in November 2002. The land is zoned C-2, or General Commercial. It may become a Sav-on Drugstore. Milano Residences LLC owns the construction project east of this northeast corner. According to Maria Kaseko, a planner from Clark County’s Department of Comprehensive Planning, “It will be a 50 foot, 4 story, 100 unit, condominium complex.
3. The southeast, 10-acre, corner lot was purchased by U S CAPITAL LLC for $3,000,000 in October of 2000. On April 4, 2006, I spoke to Teresa Lai from Professional Land Corporation, the real estate agency that is marketing this land. The information she provided to me stated that the land would “permit a 100,000 square foot retail center, anchored by a supermarket and a gas station plus restaurant pads.” This land is currently for sale for $20 MILLION.
4. The southwest, 2.5 acre, corner lot, bordered by The San Rafael Subdivision, is owned by Ronald Costello and Fred & Mary Costello Living Trust. It is zoned R-E, Rural Estates, or two homes per acre. They purchased the land in June 1989 for $28,000. The current owners also may not apply for a zone change until later this year.
If you receive anything from Clark County regarding Public Hearings scheduled for our community, please, let me know and I will be glad to attend in your absence. Remember, I am Brad Emens, REALTOR, 702-808-3531, our area expert.
Is it a good time to sell?
On April 17th, 2006 a curious homeowner from Canyons 3 called me for information on the listing I had at 517 Leap Frog Avenue. A listing is a contract between an owner and a real estate broker to find a qualified buyer. She asked me, “Is it a good time to sell?” She added, “There are so many houses for sale in the neighborhood.” After a brief discussion about the economic law of supply and demand we concluded, “It is a good time to sell, if the price is right.”
To confirm my thoughts, I went to the MLXchange. The MLXchange is a database Realtors use to find and sell homes. Here are some of the facts I found on April 17th, 2006. These numbers do not include properties for sale by owner.
There were 11 homes for sale in Canyons 3 with 2 more in contract for sale; this means there has been an accepted offer.
I expanded my search to include the entire Las Vegas Valley:
There were 13,667 homes for sale and an additional 3,834 homes in contract. This means just over 28% of homes are getting acceptable offers.
I also found that the most unpredictable segments in our real estate market were in $500,000-$800,000 price ranges:
There were 2,450 homes for sale and only 427 in contract for sale. This means only 17.4% are getting accepted offers. I also noted that in this price range there were 1,692 homes that had expired or were withdrawn since this time last year. That is more than half!
Some lenders’ general rule of thumb: a household might be able to afford 3 times their household income as a purchase price, or total loan amount, for a home. Example: Household Income =$100,000 3X$100,000=$300,000 A household that makes $100,000 a year might be able to afford a $300,000 mortgage). According to the 2006 Las Vegas Perspective (page 7) 14.2% of households in southern Nevada make more than $100,000 per year. So, in conclusion, if you want to sell your home, the best marketing tool is your asking price.
I Wish I had a Crystal Ball!
According to Clark County’s website, “On January 5th, 2005, the County Commission approved an innovative ordinance designed to guide the development of mixed-use projects, including high rises, on the Las Vegas Strip and other designated areas within the county.” This explains why the distinctive high-rise cranes have sprouted up all over our valley. The “South Strip” will be another area where we can expect to see more upward development. In Business Las Vegas reported on May 5, 2006 that, “There are mid-rise projects under development throughout the valley, although the majority of projects and the largest of them are located on Las Vegas Boulevard near Serene.”
On April 15th, 2006 I attended a VIP sales event for Urban Village. Brian Chan, an agent for Blue Tipping Group, the real estate firm for Urban Village, opened by saying, “Las Vegas is all about lifestyle.” I felt that the meeting was very ambiguous, but we did learn Centex Corporation would begin the master planned community by marketing Brownstones. We were also told that there may be twelve floor plans and the prices may range from $375,000-$795,000. When more information is released I will let you know.
Picture is only simulation
Casa Vegas Apartment HomesOn May 5th, 2006 a listing I had sold for $200,000. This 2-bedroom/1-bathroom, 863 square foot condominium was in the Casa Vegas Apartment Homes located southeast of Downtown between Maryland Parkway and La Canada Street. At a redevelopment meeting, held on December 5th, 2005, I found out about a potential developer who will trade an existing condominium for a brand new condominium in the first tower of a luxury, four-tower, high-rise complex. This proposed project might be built on the 18-acre lot where Casa Vegas Apartment Homes now exists.
On April 19th, 2006 I spoke with Bob Klein, a planner from Clark County’s Comprehensive Planning. He said, “Under current code the highest structure able to be built may be 55 feet with a non-conforming use permit.”
At a meeting held on May 1st, 2006, First American Property Advisors’ President, Mike Moloney, said, “The Federal Aviation Administration has approved a height of 317 feet and permits will be pulled later.” First American Property Advisors is the real estate firm for Casa Vegas home owners. REDEVCOR Inc. is the organization that has provided the redevelopment information. Moloney added, “Zoning will be in place after escrow closes.” Escrow is the time it takes a title company to perform necessary research and paperwork to transfer titles to a new owner. Scott Ervin, CEO and Managing Director of REDEVCOR Inc., was not available for comment.
Tuesday, April 25, 2006
Tuscany
Communities now available at Tuscany Village
Avellino
http://rhodeshomes.com/community_detail.php?comid=00006
Montebello 90’s
http://rhodeshomes.com/community_detail.php?comid=00013
Montebello 100’s
http://rhodeshomes.com/community_detail.php?comid=00014
La Luna I
http://rhodeshomes.com/community_detail.php?comid=00007
La Luna II
http://rhodeshomes.com/community_detail.php?comid=00027
La Piazza 90’s
http://rhodeshomes.com/community_detail.php?comid=00012
La Piazza 100’s
http://rhodeshomes.com/community_detail.php?comid=00011
Information was provided by http://rhodeshomes.com/
Avellino
http://rhodeshomes.com/community_detail.php?comid=00006
Montebello 90’s
http://rhodeshomes.com/community_detail.php?comid=00013
Montebello 100’s
http://rhodeshomes.com/community_detail.php?comid=00014
La Luna I
http://rhodeshomes.com/community_detail.php?comid=00007
La Luna II
http://rhodeshomes.com/community_detail.php?comid=00027
La Piazza 90’s
http://rhodeshomes.com/community_detail.php?comid=00012
La Piazza 100’s
http://rhodeshomes.com/community_detail.php?comid=00011
Information was provided by http://rhodeshomes.com/
Tuesday, April 11, 2006
March 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:
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.
Subscribe to:
Posts (Atom)
