The Little Team Real Estate Blog

According to a new report from PropertyShark, the Henderson area features five of the 50 most expensive ZIP codes in terms of property value in Nevada, which includes two that are listed up in the Top 20. 

At the top of that list and mentioned as the 15th most expensive ZIP code in the state is 89052, which currently has a median home price of $329,000. Around the time of the study, and the time of this post, the most expensive listing currently on the market in 89052 is 45 Club Vista Drive in the Anthem Country Club, which is priced at just under $7 million.  

Noted by analysts who conducted the study, it’s not surprising to see the Henderson area mentioned with some of the most expensive locations in Nevada thanks to its high concentration of

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New construction homes sales are on the rise in the early going of 2017, and according to reports, there seems to be no sign of a slowdown anywhere in sight. 

Recently released data from Home Builders Research revealed home builders in Clark County unloaded 831 new homes in March alone, bringing 2017’s total new home sales to 2,023 through the first three months. Compared to the first quarter of 2016, new construction homes sales in the Clark County area have spoiled 33.5%, which is the highest level recored for a first quarter since all the way back to 2008.  

New construction home prices are also on the rise, with the most recent median sales price recored at $329,900, or about 5% higher than this time last year. 

With demand still strong, more

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Although Nevada was a state that was among the worst to be hit during the recession, its recovery has been strong and steady, especially over the last couple years. Today, increasing wages, declining unemployment rates, and plenty of new construction activity is bringing more and more people to Nevada, and more specifically to the Las Vegas-Henderson area. 

Despite all the positivity surrounding the Silver State right now, however, its ultra-tight housing supply is presenting some issues for home buyers looking to get in on all the action. With less than a three months’ housing supply, home prices have continuously been on the rise recently, but it’s still worth nothing that housing remains significantly more affordable here compared to just about

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Foreclosures in Las Vegas AreaIt wasn’t that long ago when it seemed like Las Vegas and foreclosures went hand-in-hand, and although we’ve certainly come a long way since the housing crash rattled the Las Vegas real estate market harder than just about any other city in the country, the foreclosure rate here is still slightly higher than what you’ll find in most markets all across the country. 

According to the leading property and real estate data firm Attom, Las Vegas has the 12th highest foreclosure rate among the 200+ cities featured in a recently released report, even despite a sharp drop in foreclosures compared to last year around this time  

Around one in every 304 homes in the Las Vegas area market was labeled a foreclosure during first quarter of 2017, which represents

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New reports have surfaced that claim the investor group that owns the majority of rental units over at Juhl will begin selling them as condos sooner rather than later. According to the release, investment groups KRE Capital, Dune Real Estate Partners, and Northcap will begin selling units as early as late April, helping beef up the area’s low supply of condos just in time for the busy spring market. 

As noted by the Las Vegas Review-Journal, the aforementioned investment group controls 306 of the building’s 341 units, which were all acquired as part of a bulk unit purchase that included condos in five separate properties around Las Vegas.  

Once listed, condos for sale at Juhl will vary in size from 600 to nearly 2,000 square feet, and prices will

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Las Vegas Home Sales: March 2017Las Vegas area home sales were on the rise again last month, once again supporting the notion that the spring season truly is one of the busiest times of the year for the local housing market. According to new data from the Greater Las Vegas Association of Realtors, 3,195 single-family homes were purchased in March, which represents a 42.1% increase compared to February and a substantial 14.8% jump from March of last year. 

The median sales price also increased by 10% compared to the same time last year, settling at $242,000 last month, which is also up 0.8% from February. 

Along with increased home sales and rising home prices, supply also continued its downward trend last month, which is certainly a key contributing factor in how quickly home

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Reverence Summerlin Homes For SaleIt was all the way back in September when chatter started to pick up again for Summerlin’s 300-acre housing development dubbed ‘Reverence.’ Now, over 6 months later, it appears as if the project is officially moving forward as reports surfaced about construction finally getting underway. 

It’s been about a decade since the Reverence community was proposed by Pulte Homes and Summerlin-based developer Howard Hughes Corp., but crews are now starting to grade the development site and home construction could actually begin as early as later this month.

Back when the project was first announced in 2007, developer Howard Hughes Corp. said as many as 1,500 homes could be built in Reverence, which will be situated near Summerlin’s northern tip.  

Should

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The impact the new Las Vegas Raiders NFL franchise will have on the local Las Vegas housing market will remain to be seen, but just from a pure economic standpoint, the arrival of any new professional sports team can only have a positive effect. 

With Las Vegas already being a destination city for retirees and vacation home buyers, thanks in large part to its warm desert climate and all the amenities and attractions that now make it a top tourist town in the entire country, it’s certainly possible that die-hard Raider fans might also make an investment in a condo or seasonal residence that will allow them to not only catch a few home games on Sunday afternoons but also enjoy the city for its world-class shopping, dining, and entertainment

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Las Vegas Real EstateWhile new data suggest the housing recovery is still a bit sluggish and increasingly uneven in certain parts of the county, a number of cities that were among the hardest hit during the crash are now some of the nation’s strongest markets—and yes, that includes Las Vegas.  

According to recently released figures from TenX, a top real estate auction and analytics firm, Las Vegas is enjoying a more balanced population growth than just about any city in the U.S. right now, and that’s certainly translating to a much healthier real estate market overall. Prior to the recession, Las Vegas was also seeing a similar upward trend in both population and job growth, and now with the downturn well in the rearview mirror, it’s a market that’s starting to return to

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Las Vegas Housing InventoryThe U.S. housing market has been quite robust throughout the first few months of 2017, but in markets all across the country, dwindling inventory continues to be an issue challenging soon-to-be home buyers. In fact, according to some economists and real estate experts, what’s really holding the market back and keeping sales from increasing even more is simply a lack of available homes listed on the market, especially when it comes to new construction.

Back in November and December, which are traditionally two of the slower months for the housing market, inventories fell to even greater depths, which some attribute to the election results and others to higher consumer confidence and also buyers wanting to buy before mortgage rates continue to climb to

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