I would have to say that Lennar Homes does more email advertising than any other home builder. My inbox receives a lot of email from Lennar, offering their latest sales and information. The latest email was about their latest sales offering. Lennar like many other new home builders in the valley are having a hard time competing against the sheer number of homes for sale. Foreclosures have depressed home prices to levels not seen in the Las Vegas valley since the late ’90s. That combined with harder financing has produced the current market. Terrible if you have to sell your home but unprecedented if you are looking to buy.
Lennar is taking a new tack for them: upgrades. These Lennar homes come with some nice goodies including stainless steel appliances, raised panel cabinets, granite counter tops and window coverings:
Home in Silverado Ranch
1,369 sq. ft. (3 Bed, 2.5 Bath, 1 Car)
- Gated neighborhood with community pool and spa
- Full length driveways
- Upgraded flooring
- Priced at $186,990
Northwest
1,621 sq. ft. (3 Bed, 2.5 Bath, 2 Car)
- Master planned community of Providence
- Gated neighborhood
- Near plenty of parks
- Priced at $195,9901,516 sq. ft. (3 Bed, 2.5 Bath, 2 Car)
- Master bedroom with retreat
- Easy freeway access
- Near the newly built Centennial Hills Hospital
- Priced at $182,990North
1,882 sq. ft. (4 Bed, 2.5 Bath, 2 Car)
- Back yard landscaping included
- Community Park
- Near Nellis AFB
- Priced at $189,990
This just a sampling of the new homes available in the Las Vegas valley. If you are thinking about buying a new home, call me at 702-493-8033 and I’ll send you information on the latest new homes for sale.
Uncertain about your Options?
One of the most common questions I’m asked as a Realtor is whether someone should wait and rent or buy now. It’s a great question. My advice is to buy now, if you plan on staying in the area for at least two years. Now some critics will say well of course you said buy now, that’s how you make a living! Of course, that statement is true. I don’t make a dime unless someone makes a purchase. However, I take my fiduciary duty to my clients very seriously and am proud to say that no one of my clients have lost their home, nor did they get one of those ridiculous loans. Let me explain why I think it is in your best interest to purchase a home now, rather than wait and rent for six months or a year.
- Interest rates. Interest rates are at a historic low, provided you have a decent credit score. For those with less than stellar credit, interest rates are still not that bad. The rate will be around the same rate you would have received a few years ago.
- Supply and Demand. Right now there is a huge surplus of housing available for sale. With low demand and high supply, simple economics dictate that prices will be lower than they would be in a normal market. Therefore you will get a lot more home for your money now than you will when the supply decreases and interest increases.
- Sales volume. Despite the huge number of foreclosures still occurring, the amount of inventory isn’t growing by leaps and bounds. However, the number of sales completed has exceeded the sales numbers of the ‘boom years’ in our market. First time buyers and investors are buying up bargain properties and some homes are receiving multiple offers.
- Rent money. Say you wait a year and spend $12,000 on rent. That same $1,000 a month could have been applied to your mortgage. Average rent in the valley is around $1,200 for home. Even a loan for $145,000 at 6% with taxes and insurance will be around $1,150 per month.
That’s just the short list. After all, everyone has to have a place to live. If you would like to discuss your options, feel free to call me at 702-493-8033.
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