Rob's Report – June 2016

ROB REPORT L A S

2971 Red Arrow Drive

robjensen.com

702.605.7480

V E G A S

&

H E N D E R S O N J U N E 2 0 1 6

Red Rock Country Club

| $2,799,000

This exceptional custom home, situated behind the secondary gate of The Estates, features wide open spaces, luxurious finishes, and unparalleled mountain views. Tremendous 35-foot vaulted ceilings lead into the open, spacious great room where you can enjoy the panoramic landscape from the grand windows. The well-appointed kitchen boasts high-end Thermador, Bosch and Sub-Zero appliances. Located on the 15th and 16th holes of the private Arnold Palmer Mountain Course, experience the finest in golf course living.

Call us today to find or sell your guard gated home.

SOLD PROPERTIES |

LAS VEGAS & HENDERSON

|

HOW’S THE MARKET | GUARD GATED SALES STATISTICS - MAY

MAY

HOME PRICING

Anthem Country Club

43 Anthem Creek Circle 16 Clear Crossing Trail 16 Chatmoss Road 21 Caprington Road 25 Kittansett Loop 17 Desert Highlands Drive 1 Yorkridge Court 19 Caprington Road 6 Fallows Fire Court 75 Kittansett Loop 6 Sankaty Circle 9 Hammock Dunes Court 18 Clear Crossing Trail 48 Stonemark Drive 10 Isleworth Drive

Aventura

9912 Mirada Drive

3,876 3,216 2,225 1,905 3,993 3,216 5,711 2,076 1,833 7,817 5,716 1,889 3,772 2,172 4,607

$980,000 $662,000 $396,700 $425,000 $850,000 $680,000 $2,350,000 $426,000 $398,000 $2,400,000 $1,450,000 $376,000 $675,000 $468,000 $990,000

3,372

$774,000

Bellacere

Canyon Fairways

4,468 5,945

$1,300,000 $2,000,000

Canyon Gate Corta Bella

Las Vegas

No closed sales for the month of May.

Country Club Hills

4,743

$1,425,000

Eagle Hills

Eagle Rock

3,840 3,322

$580,000 $750,000

Legacy Estates

MacDonald Highlands

2,508 3,774 2,712 3,823 3,489 5,209 2,508

$648,000 $960,000 $609,900 $1,000,000 $805,000 $1,380,000 $618,000

Roma Hills

Seven Hills - Marquis

2801 Via Tazzoli Court

3,642

$1,575,000

Seven Hills - Rapallo

Seven Hills - Terracina/Venezia Southern Highlands

12007 Oakland Hills Drive 46 Ravenswood Avenue 14 Greenside Drive

6,461

$1,900,000

Henderson $294

3,846 8,093 6,050

$1,125,000 $3,000,000 $2,150,000

Las Vegas $293 $371 $355

Spanish Hills

Las Vegas

No closed sales for the month of May.

Spanish Trail

8471 Turtle Creek Circle 40 Sawgrass Court

4,134 8,684

$643,000 $1,450,000

Ten Oaks

The Fountains

3,898

$690,000

The Palisades

86 Glade Hollow Drive 37 Promontory Ridge Drive 3 Boulder Rock Circle 14 Garden Rain Drive 43 Olive Ridge Drive 35 Midnight Ridge Drive

3,797 5,312 4,405 3,776 3,562 6,547

$1,503,109 $1,875,000 $1,399,900 $983,625 $1,071,333 $3,732,758

$1,700,000

No closed sales for the month of May.

2,643

$950,000

Las Vegas $359

9029 Greensboro Lane

3,999 4,130

$630,000 $925,000

Las Vegas $158 $224

2994 Kedleston Street 10724 Weather Top Court

The Vineyards

Tournament Hills Willow Creek

Henderson $177 Las Vegas

No closed sales for the month of May.

The Ridges

Las Vegas

$156 $167

Las Vegas

No closed sales for the month of May.

2302 Prometheus Court

Henderson $432 Henderson

No closed sales for the month of May.

1356 Opal Valley Street

Las Vegas $258 $254 $225 $262 $231 $265 $246 Henderson

No closed sales for the month of May.

Las Vegas $268

One Queensridge Place Queensridge

11266 La Madre Ridge Drive 2606 Grassy Spring Place 2984 Dove Run Creek Drive 3080 Red Springs Drive 11257 Golden Chestnut Place 11635 Evergreen Creek Lane 2877 Red Springs Drive

Henderson $355 $533 $405 $597

9808 Mountain Grove Court 6,334

9632 Gavin Stone Avenue 805 Pont Chartrain Drive

Red Rock Country Club

$3,415,000 $3,290,000 $3,500,000 $4,000,000

9,614 6,172 8,648 6,705

Mountain Trails

9101 Alta Drive #3

Las Vegas $151 $226 Henderson

No closed sales for the month of May. 583 St Croix Street 663 Scenic Rim Drive 582 Lairmont Place 509 Dragon Gate Court

Las Vegas $300 Las Vegas

No closed sales for the month of May. 621 Pinnacle Heights Lane 717 Pinnacle Heights Lane

Las Vegas $291 $336 Las Vegas

No closed sales for the month of May.

8925 Brook Bay Court

Las Vegas $230 Las Vegas

No closed sales for the month of May. 9400 Players Canyon Court 613 Canyon Greens Drive

Henderson $253 $206 $178 $223 $213 $211 $411 $205 $217 $307 $254 $199 $179 $215 $215

Las Vegas $396 $353 $318 $260 $301 $570 Las Vegas

7,717

$2,750,000

Las Vegas $356

4,308 3,458

$830,000 $755,000

Las Vegas $193 $218

FOR SALE

IN ESCROW SOLD EXPIRED

ABS RATE*

<500K

134

125

62

8

6.2

500-750K

153

46

23

8

10.7

750K-1MM

110

35

13

5

1-1.5MM

110

28

9

1.5-2MM

46

12

2-2.5MM

27

2.5-3MM

27

TRENDS - MONTHLY & YEARLY Sold Properties

Active Listings

May ‘16

122

939

15.8

April ‘16

101

941

3

15.3

MoM%

21% -0.2%

5

5

17.4

May ‘15

80

664

8

3

1

14

YoY%

53%

41%

2

2

1

24.9

3-4MM

29

3

5

0

16

>4MM

40

4

0

3

66

*Abs(orption) Rate: length of time (given in months) it takes to sell current inventory.

Number of months of current supply is based on average number of monthly sales for last 6 months. Source: Multiple Listing Service (MLS), 6/1/16

Hello Friends, If you were to compare Michael Phelp’s swim time in a pool of water vs. a pool of molasses, which scenario would yield the best time?

I ask this kind of silly question because it highlights what is so often missing with home pricing today, and that is taking into account, the “proverbial” Market. So let’s just say, the athlete’s time is your home’s sale price and the water or molasses is the Market. It’s the same Olympic athlete in both scenarios, but obviously his time is going to be better in the water and worse in the molasses. So what can you do about this when it comes time to sell your home?

Well, unfortunately you can’t change the market, but you can either wait for it to change or be more aware of these external factors when it comes time to sell and strategize accordingly. If you have to sell in market categorized as “molasses,” and unfortunately I’m not talking about sweetness, then wouldn’t you rather know that going in? Remember, closed sales are the past and may not reflect the current market conditions, whether they be better or worse.

In every issue of the Rob Report, we report on the Absorption Rate for different price points (titled ABS Rate). When the rate is around 6 months, it basically means the market is a more steady, regular market; hence, the reason for a general 6-month listing agreement.

As the number goes below 6 months, the market trends strongly in the favor of the sellers.

Remember, it’s basic economics here with supply and demand. As the number goes over 6 months, the market begins to “soften,” and as it trends into the double digits, the market turns into molasses.

Yet, there are still sales every month. There are definitely strategies to increase your odds of being one of them. I’ve been licensed since 2003 and have been through up markets and down markets. I know how to deal with different trends. If you’re thinking about buying or selling, let’s talk. I’m happy to help.

It’s a good life,

Rob Jensen Broker/President

9301 Fontainbleu Drive

Queensridge

| $1,250,000

Come be amazed at this prestigious Queensridge estate, immaculately cared for inside and out. Over one-third of an acre of grounds, located on the 4th hole of the Badlands golf course, creates a protected, private ambiance. Enter through the new front doors to the impressive 24-foot ceilings and maple hardwood floors throughout this newly painted, impeccable home. Excellent schools, Downtown Summerlin, and Boca Park are minutes away.

702.605.7480 | robjensen.com

700 Tandoori Lane

The Paseos

| $899,000

Located behind the gates of Serrano, this exceptional Toll Brothers home is perfectly equipped for summer barbeques pool side. The richness inside is reflected in its hardwood floors, plantation shutters, and gourmet chefâ&#x20AC;&#x2122;s kitchen with butlerâ&#x20AC;&#x2122;s pantry. The private and peaceful rear yard, with an oversize lagoon-style saltwater pool and outdoor kitchen, is the perfect place to unwind.

11735 Glowing Sunset Lane

7 Penn Cross Court

Red Rock Country Club | $1,118,000

Situated on the 6th hole of the private Mountain Course, it offers spectacular golf and mountain views. Spend time with family and friends in the dedicated formal spaces or transition outdoors into the tranquil rear yard. When the day is done, on your private master balcony, open your favorite book in the warm light of the sunset.

Anthem Country Club | $850,000

Nestled on a quiet cul-de-sac atop the hills of Anthem Country Club, this spacious home awaits. The entryway, adorned with granite tile accents, leads into the living room with high, vaulted ceilings and large windows. The PebbleTec pool and spa is the perfect place to enjoy the tranquil outdoor scenery. The oversize finished basement with dry bar makes a great game room. This beautiful home is a wonderful space designed for families of any size.

robjensen.com

702.605.7480

10785 W. Twain Avenue, Suite 110 Las Vegas, NV 89135

!

D

L O

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2606 Grassy Spring Place Red Rock Country Club $ 960,000

Inside Featured Properties, Closed Sales and Trends for 29 Las Vegas & Henderson Guard Gated Communities!

Great Time to Sell!

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Call Rob Jensen today to sell your home. 702.605.7480