ROB'S REPORT
SUMMERLIN, L AS VEGAS, & HENDERSON AUGUST 2021
#5Rockstream
5 ROCKSTREAM DRIVE ASCAYA | $13,995,000
6,539 Square Feet | 5 Bedrooms | 6 Bathrooms | Custom Two-Story
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Trophy property with the best views in all of Las Vegas! Unobstructed, panoramic, dead-center views of the Las Vegas Valley and Strip await at this custom two-story mansion in Ascaya—a 24hour guard gated architectural paradise and ultra-luxury community poised atop a monument of spiraling stone in Henderson, Nevada. Perched on a ridge 90’ above the homes below, this contemporary estate showcases unparalleled privacy and breathtaking Strip, city, and mountain views from every room. Amenities include a 70’ infinity-edge swimming pool, a relaxing in-pool jacuzzi, garage space for six cars, a 31-panel solar power system, and a plethora of smart home capabilities—but that’s just the beginning.
Hello Friends, Here are some interesting facts about the current market conditions. Guard gated inventory is down 38.5% over last July, which continues to set the stage for a highly competitive market. Pending sales are down 19.2% over last month and 20.6% over last year. However, this slowdown is not a sign that the market is turning soft. If you look at the Absorption Rate chart, which is a measure of our current supply of inventory, you'll still see very low single digit numbers. This means that the supply/ demand ratio is steady. I continue to expect a lower number of transactions for the time being and pricing to continue to remain stable.
5 ROCKSTREAM DRIVE | ASCAYA
In order to provide additional insight, I spoke with BDO Tax Office Managing Partner, Scott Taylor. “There have been numerous announcements that the Biden tax increase could be retroactive to the beginning of 2021,” he said. “However, many CPAs believe there is no possibility of retroactive tax increases. Taxpayers should be prepared to make quick tax and business decisions if the Biden proposal gets passed with expected provisions.”
Mr. Taylor added, “It is likely that some form of estate taxes may be altered, and it is almost guaranteed that income tax rates for over $1,000,000 will be subject to the highest marginal tax rates of 39.6%. The best advice is to keep your ears and eyes ready and discuss your specific tax circumstances with your professional advisors.” Estate Planning & Asset Protection Attorney Steven J. Oshins, Esq., AEP (Distinguished) had this to add: “The 2018 tax act limited the federal State and Local Tax Deduction to $10,000 which caused a mass exodus from high state income tax states and contributed to the growth in states like Nevada.” He also noted that “Nevada is the #1 state for Domestic Asset Protection Trusts because Nevada has a short two-year statute of limitations for future creditors to be able to sue the trust, as well as having no exception creditors who can access the trust assets, which is very unique.” Regardless of how this plays out, we continue to invest heavily in marketing that gets our listings sold. In just the last month, we committed over $100,000 with Modern Luxury publications to expand our print and digital marketing reach in California and in new Sony FX6 video equipment for our luxury property video tours. If you’re interested in a luxury real estate company that invests substantially in the successful sale of your home, please give us a call at 702.605.7480. Sincerely, Rob Jensen Broker / President 702.605.7480 B.143770
FOR THE MONTH OF APRIL 2017 | GUARD GATED SOLD PROPERTIES FOR THE MONTH OF JULY 2021 COMMUNITY
SF
PRICE
P/SF
COMMUNITY
ADDRESS
SF
PRICE
P/SF
10141 Summit Canyon Drive
4,782 $1,600,000
$335
8745 Double Eagle Drive
3,652 $850,000
$233
Canyon Fairways
405 Royalton Drive
7,056 $2,575,000
$365
2209 Glenbrook Way
3,319 $1,220,000
$368
1817 Corta Bella Drive
3,946 $1,010,000
$256
1816 Dolce Drive
3,510 $850,000
$242
8800 Quadro Court
4,034 $1,085,000
$269
Eagle Hills Eagle Rock Mountain Trails The Palisades
Red Rock Country Club
Reverence
The Ridges
The Summit Tournament Hills Willow Creek
9840 Cantebury Rose Lane
3,573 $825,000
$231
9717 Heirloom Court
3,446 $825,000
$239
9220 Golden Eagle Drive (REO) 5,641 $1,245,000
$221
2036 Grouse Street
3,578 $1,575,000
$440
413 Pinnacle Heights Lane
3,556 $1,175,000
$330
521 Pinnacle Heights Lane
4,078 $1,180,000
$289
2316 Pearl Crest Street
8,096 $3,000,000
$371
212 Royal Ascot Drive
4,703 $1,660,899
$353
10204 Stone Briar Court
4,586 $1,399,000
$305
1966 Country Cove Court
4,107 $1,375,000
$335
2845 Evening Rock Street
3,147 $1,550,000
$493
11272 Golden Chestnut Place
4,443 $1,675,000
$377
2620 Grassy Spring Place
3,601 $1,400,000
$389
2690 Grassy Spring Place
4,200 $1,600,000
$381
1954 Orchard Mist Street
3,420 $1,350,000
$395
11532 Snow Creek Avenue
2,325 $795,000
$342
11525 Timber Mountain Avenue
2,325 $900,000
$387
3405 Turtle Head Peak Drive
3,823 $2,375,000
$621
11271 Winter Cottage Place
4,443 $1,780,000
$401
2951 Raywood Ash Drive
2,852 $1,299,900
$456
10950 Red Yucca Drive
2,123 $1,050,000
$495
4154 Bronze Ridge Street
5,229 $3,150,000
$602
54 Crested Cloud Way
7,784 $5,899,999
$758
15 Garden Rain Drive
3,776 $2,399,000
$635
24 Garden Rain Drive
3,776 $2,100,000
$556
76 Glade Hollow Drive
4,620 $2,725,000
$590
53 Meadowhawk Lane
5,075 $3,000,000
$591
90 Meadowhawk Lane
6,033 $5,400,000
$895
79 Pristine Glen Street
4,172 $1,950,000
$467
28 Soaring Bird Court
6,653 $4,150,000
$624
24 Springacre Drive
3,776 $2,250,000
$596
11245 Stardust Drive
7,782 $17,500,000 $2,249
9013 Greensboro Lane
10,533 $3,350,000
$318
10908 Willow Heights Drive
5,788 $2,350,000
$406
LAS VEGAS
Country Rose Estates
Canyon Gate
One Queensridge Place
Queensridge
4,202 $925,000
$220
3,029 $975,000
$322
9041 Opus Drive
3,029 $950,000
$314
9053 Opus Drive
3,029 $975,000
$322
8813 Rainbow Ridge Drive
3,146 $865,000
$275
9005 Robinson Ridge Drive
3,029 $763,500
$252
9101 Alta Drive, #12
2,046 $750,000
$367
9101 Alta Drive, #204
3,100 $1,500,000
$484
9101Alta Drive, #805
3,355 $1,850,000
$551
9101 Alta Drive, #1001
4,792 $2,600,000
$543
9101 Alta Drive, #1006
2,137 $1,050,000
$491
9103 Alta Drive, #205
3,355 $1,475,000
$440
9103 Alta Drive, #1501
5,844 $4,000,000
$684
9721 Camden Hills Avenue
3,913 $1,175,000
$300
9613 Gavin Stone Avenue
3,681 $900,000
$244
300 Onyx Crest Street
3,330 $1,170,000
$351
900 Pont Chartrain Drive
3,936 $1,800,000
$457
9301 Verlaine Court
8,880 $4,395,000
$495
9413 Verlaine Court
7,264 $2,400,000
$330
1009 Windfair Village Street
2,901 $818,000
$282
9900 Aspen Knoll Court
3,274 $845,000
$258
3,225 $1,115,000
$346
50 Olympia Hills Circle
11,726 $5,400,000
$461
Spanish Hills
5100 Spanish Heights Drive
14,306 $6,000,000
$419
Spanish Trail
15 Princeville Lane
5,933 $1,400,000
$236
Tuscan Cliff s
11132 San Terrazo Place
6,923 $2,513,495
$363
1 Awbrey Court
10,313 $3,900,000
$378
29 Candlewyck Drive
3,374 $1,395,000
$413
Southern Highlands
Anthem Country Club
Ascaya
4 Caprington Road
1,905 $685,000
$360
5 Chalet Hills Terrace
5,695 $1,825,000
$320
108 Fountainhead Circle
1,942 $815,000
$420
73 Kittansett Loop
7,661 $4,100,000
$535
15 Oro Valley Drive
3,848 $1,035,000
$269
16 Paradise Valley Court
6,738 $3,023,000
$449
4 Sankaty Circle
5,344 $2,880,000
$539
24 Starbrook Drive
3,942 $1,525,000
$387
1 Boulderback Drive
4,922 $4,600,000
$935
7 Cloud Chaser Boulevard
8,925 $10,500,000 $1,176
11 Cloud Chaser Boulevard
6,855 $5,400,000
$788
2319 Caserta Court
6,046 $985,000
$163
2338 Villandry Court
5,576 $1,450,000
$260
165 Inveraray Court
4,854 $1,423,390
$293
1635 Liege Drive
5,523 $2,225,000
$403
1465 MacDonald Ranch Drive
9,717 $3,650,000
$376
604 Saint Croix Street
11,567 $3,780,000
$327
675 Scenic Rim Drive
5,260 $3,750,000
$713
Roma Hills
775 Clove Court
4,947 $1,700,000
$344
Seven Hills - Terracina/ Venezia
1529 Villa Rica Drive
7,698 $2,150,000
$279
The Fountains Legacy Estates
No closed sales for the month of July in Aventura, Country Club Hills, The Vineyards, Ten Oaks, Hillsboro Heights, and Seven Hills - Rapallo
1905 Iron Ridge Drive 9033 Opus Drive
9920 Robin Oaks Drive
Regency at the Lakes
HENDERSON
Corta Bella
SUMMERLIN
ADDRESS
Bellacere
MacDonald Highlands
HOW’S THE MARKET? | GUARD GATED SALES STATISTICS - JULY PRICE RANGE
FOR SALE
UNDER CONTRACT
SOLD
EXPIRED
ABS* RATE (MONTHS)
$500K-$749K
21
22
20
0
1.8
$750K-$999K
28
24
36
1
1.6
$1M-$1.49M
41
32
29
6
2.1
$1.5M-$1.99M
35
17
15
1
3.2
$2M-$2.49M
25
9
10
0
5.2
$2.5M-$2.99M
10
5
4
0
2.7
$3M-$3.99M
28
14
9
0
7.6
$4M+
66
12
11
2
7.4
*ABS(orption) rate is the length of time (in months) that it takes to sell current inventory. This is calculated by adding homes FOR SALE and homes UNDER CONTRACT and dividing the total by the average number of monthly sales for the last 2 months. Source: Multiple Listing Service (MLS), 07/31/21. We add pending and contingent sales to the active listings; otherwise, they'd be counted twice as sales or might even fall out of escrow.
MARKET TRENDS | JULY
JUL '21
CLOSED SALES
MONTHLY & YEARLY
07/31/21
UNDER CONTRACT
07/31/21
ACTIVE LISTINGS
134 135 389
Over JUN '21
-1%
-19.2%
+3.7%
Over JUL '20
+51%
-20.6%
-38.5%
JUN '21
135
167
375
JUL '20
89
170
633
#3040AmericanRiver
3040 AMERICAN RIVER LANE WILLOW CREEK | $2,750,000
5,580 Square Feet | 5 Bedrooms | 6 Bathrooms | Custom Single-Story
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Masterfully designed by the architect behind Tivoli Village and One Queensridge Place, this custom single-story estate presents a rare lifestyle in Willow Falls, a gated subdivision of the 24-hour guard gated community of Willow Creek in Summerlin. From striking natural stone facades to palatial interior spaces, no detail has been spared. Step inside and discover a wealth of artisan finishes: hand-laid Venetian plaster, travertine floors, seventeen skylights, and custom masonry featuring seven types of stone from six different countries. True resort-style living awaits in the skylit lanai, an air-conditioned veranda with an irrigated garden bed and a 25’ wide wall of glass that opens to the 50’ lagoon pool.
#2611NevadaAgave
2611 NEVADA AGAVE LANE REVERENCE | $1,600,000
4,099 Square Feet | 5 Bedrooms | 5 Bathrooms | Two-Story
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Perched on an elevated hillside lot, this two-story home boasts unmatched privacy and unobstructed mountain views in Reverence—an esteemed, guard gated, Summerlin community developed exclusively by Pulte Homes. Modern finishes include highly durable laminate wood flooring, quartz and marble countertops, and oversized picture windows that celebrate the view. Reverence’s 16,000-square-foot indoor/outdoor Clubhouse features a state-of-the-art fitness center, an aerobics room, an event lawn, pickleball courts, a lap pool, and a resort-style, beach-entry pool with cabanas.
#704Tandoori
704 TANDOORI LANE SERRANO | $1,479,000
4,618 Square Feet | 5 Bedrooms | 5 Bathrooms | Two-Story
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Built around a central courtyard, this two-story Toll Brothers home presents a wonderful indoor/outdoor lifestyle in Serrano, a gated community in the acclaimed Paseos Village of Summerlin. Highlights include a 48-panel solar power system, a 50’ long Pebble Tec pool with a spa, travertine and hardwood flooring, and built-in speakers inside and out. Minutes from Red Rock Canyon, Downtown Summerlin, Red Rock Casino Resort & Spa, and some of the most desirable schools in the valley, Serrano is a great place to call home.
10785 W. Twain Avenue, Suite 110 Las Vegas, NV 89135 B.143770
SOLD $1,800,000 900 PONT CHARTRAIN DRIVE QUEENSRIDGE
SOLD $1,780,000
SOLD $865,000
11271 WINTER COTTAGE PLACE
8813 RAINBOW RIDGE DRIVE
RED ROCK COUNTRY CLUB
CANYON GATE
SOLD $855,000
SOLD $845,000
10491 HAYWOOD DRIVE
9900 ASPEN KNOLL COURT
THE GARDENS
robjensenco
REGENCY AT THE LAKES
robjensen.com
702.605.7480