Rob's Report – March 2016

ROB REPORT L A S

4 Meadowhawk Lane

robjensen.com

702.605.7480

V E G A S

&

H E N D E R S O N M A R C H 2 0 1 6

The Ridges | $3,950,000

Custom Blue Heron home on corner lot. The home’s desert-contemporary design invites both indoor and outdoor spaces into your daily life. With a detached casita, incredible high-end kitchen, en suite bedrooms, and open flowing spaces, this home epitomizes luxury living. You’ll love the master bed and bath, and will never get enough of the incredible full-Strip view from the private balcony.

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

SOLD PROPERTIES |

LAS VEGAS & HENDERSON

|

FEBRUARY

HOW’S THE MARKET | HOME PRICING

Anthem Country Club 19 Contra Costa Place 22 Isleworth Drive 53 Kittansett Loop

3,037 3,571 5,756

$575,000 $760,000 $1,325,000

Aventura

Henderson $189 $213 $230 Las Vegas

No closed sales for the month of February.

Bellacere

Las Vegas

No closed sales for the month of February.

Canyon Fairways

Las Vegas

No closed sales for the month of February.

Canyon Gate 8760 Rainbow Ridge Drive 1604 Sun Ridge Drive

2,747 2,267

$645,000 $400,000

3,946

4,796 4,836

12,274

Henderson

MacDonald Highlands $612,000 $850,000 $3,000,000 $2,300,000

Mountain Trails

Henderson $190 $241 $308 $294

No closed sales for the month of February.

One Queensridge Place $885,000 $2,200,000 $1,425,000 $1,400,000

Queensridge 9609 Gavin Stone Avenue 3,679 9324 Queen Charlotte Drive 3,588 9725 Royal Lamb Drive 2,733

Henderson

No closed sales for the month of February.

$570,000 $900,000 $425,000

Las Vegas $414 $571 $460 $452 Las Vegas $155 $251 $156

IN ESCROW

SOLD

EXPIRED

ABS RATE*

<500K

153

105

23

7

8

500-750K

136

35

13

10

10.2

750K-1MM

96

24

11

5

1-1.5MM

102

22

6

1.5-2MM

42

10

2-2.5MM

21

2.5-3MM

26

TRENDS - MONTHLY & YEARLY Sold Properties

Active Listings

Feb ‘16

64

854

14.4

Jan ‘16

59

783

5

14.3

MoM%

8%

9.1%

3

1

15.6

Feb ‘15

73

692

4

2

3

13.6

YoY%

-12%

23%

3

2

2

58

3-4MM

23

3

3

0

15.6

>4MM

47

2

1

1

58.8

*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), 3/3/16

Seven Hills - Terracina/Venezia

Henderson $177

Southern Highlands

$970,000 $374,900 $1,625,000

Las Vegas $190 $173 $300

Spanish Hills

5083 Mountain Foliage Drive 4,245 $1,300,000 5039 Spanish Heights Drive 12,185 $2,100,000

Las Vegas $306 $172

Our analysis of local housing data provides the answer: Closed sales spike from the tail end of March into the months of April and May. Since most sales have an average 30- to 45-day escrow, these homes will go into contract during February/March/April. Closed sales will continue to increase, peaking in the month of June.

Spanish Trail

Las Vegas

At this moment, you still have ample time to put your home on the market. First consideration is that you don’t be in a rush and simply place it on the market without proper preparation. As with any other first impression, you have but one chance to present your home in the best possible light.

Ten Oaks

7429 Oak Grove Avenue

Las Vegas

2,137 3,856 3,100 3,100

Seven Hills - Rapallo

5,472

$970,000

No closed sales of home over 4,000 sq.ft. for the month of February.

No closed sales for the month of February.

9101 Alta Drive #906 9101 Alta Drive #1402 9103 Alta Drive #504 9103 Alta Drive #1104

Henderson

$2,342,250

Legacy Estates

3,220 3,521 9,756 7,827

Seven Hills - Marquis

No closed sales for the month of February.

Las Vegas $191

No closed sales for the month of February.

1721 Choice Hills Drive 1332 Enchanted River Drive 588 St Croix Street 638 St Croix Street

No closed sales for the month of February.

Las Vegas $188 $176

Las Vegas

Las Vegas $251 $203 $278 $298 $384 $310 Henderson

$900,000 $850,000

Eagle Rock

$1,100,000 $550,000 $1,545,000 $1,410,000 $3,400,000 $1,300,000

Roma Hills

3475 Alpine Lily Drive 5,098 3254 Birchwood Park Circle 2,172 11937 Oakland Hills Drive 5,419

Eagle Hills 2037 Grouse Street

4,374 2,712 5,555 4,725 8,845 4,200

Las Vegas $165

$650,000

Country Club Hills 8936 Brook Bay Court 9040 Thornbury Lane

3269 Elk Clover Street 2844 Evening Rock Street 11476 Morning Grove Drive 11495 Morning Grove Drive 2556 Red Arrow Drive 2737 Turtle Head Peak Drive

2644 Mirabella Street

Corta Bella 8817 Cortile Drive

Las Vegas $235 $176

Red Rock Country Club

FOR SALE

GUARD GATED SALES STATISTICS - FEBRUARY

The Fountains

2261 Trafalgar Court

3,988

$735,000

Las Vegas $184

4,856

$850,000

Henderson $175

The Palisades

Las Vegas

No closed sales for the month of February.

The Ridges

18 Drifting Shadow Way 28 Painted Feather Way 28 Panorama Crest Avenue

4,231 9,873 4,013

$2,900,000 $6,500,000 $850,000

Las Vegas $685 $658 $212

The Vineyards

Las Vegas

Tournament Hills

Las Vegas

Willow Creek

Las Vegas

No closed sales for the month of February.

Dear Friends, Change is in the air. The winter chill has left our valley, and tree buds tell us that spring is here. It’s especially during this time that our clients and followers ask, when is the best time to put my home on the market?

Instead of “tactics,” let’s talk strategy because without a doubt, buyers want homes that feel new.

• Buying residential real estate is emotional: Most sellers are far from excited to spend additional money on a home they are selling. But the most important consideration is the potential buyer’s (emotional) perspective. Consider taking an honest look at your property through a buyer’s eyes: Do various items or areas take away from the overall positive look and feel of your home? If they do, it’s time to take action.

• Appeal to the buyer’s senses and you’ll put more money in your pocket when you sell your home: It’s logical that every seller has a different budget and time frame in mind; therefore, you may do just the basics of getting the house pressure washed, windows cleaned, new flowers planted, steam the carpets, polish the floors, and deep clean the house…or you may consider more. It’s not uncommon for some of our clients to invest in upgrading countertops, appliances, fresh paint or more.

Our highly skilled and experienced team is here to provide valuable guidance and custom-tailored advice for your specific home. We offer a complimentary Home Sale Readiness Analysis for any homeowners who are considering selling their home. This exclusive informative service is provided as a courtesy to you with no obligation. I invite you to call me for information about our free analysis or to schedule an appointment to discuss listing your home. Our team is ready and waiting to assist and guide you!

It’s a good life,

No closed sales for the month of February.

No closed sales for the month of February.

Rob Jensen Broker/President

NEWS

Las Vegas Boasts Record Tourism in 2015 Article and Photo by Mike Stotts As 2016 rang in, 2015 established record tourism and convention results, bolstering Vegas’ robust economy.

Las Vegas relishes setting all sorts of enviable records, but then it proceeds to top them again and again.

To wit, no sooner had the spectacular Las Vegas valley fireworks ended on New Year’s 2016, drawing nearly 335,000 eager party-goers, when Las Vegas catapulted itself into the prime entertainment and business spotlight once again: this time for squashing the visitation record it had previously set just a year ago. The Las Vegas Convention and Visitors Authority reported the number of visitors for 2015 topped 42 million.

2015 brought in 900,000 more visitors than its 2014 total of 41.1 million. Pretty impressive, considering the stats do not include the numerous New Year’s festivities throughout the valley, which will add to this remarkable performance.

When the numbers are finally confirmed, it’s safe to say Las Vegas in 2016 will top 1,000,000 more visitors than 2015. And considering that 2014 was the first time in history that Las Vegas topped 40 million travelers, 2016 is indeed starting out with an enormous business and financial bang of its own.

Tourism now generates over $50 billion annually, while supporting 376,000 jobs and accounting for 43 percent of Southern Nevada’s total employment.

More than just being a glittering town with world-class entertainment, luxury resorts, highly diverse dining, and exquisite shopping, Las Vegas conventions are the “fuel” supporting business tourism growth. In 2015, 5.7 million people attended 22,100 conventions and meetings in Las Vegas. The 2014 total was 5.2 million people.

With Las Vegas having more than 11 million square feet of combined meeting spaces and more than 150,000 motel and hotel rooms—with occupied average an enviable 85 percent—it ranks only second behind Orlando in the Top 50 Meeting Destinations in the U.S. list, overtaking Chicago from last year’s ranking.

This year, the key business sector is poised for even greater dramatic growth, especially since Mandalay Bay has completed its 2-million- square-foot convention expansion. The $375 million, newly named T-Mobile Arena, informally called the Las Vegas Arena for the past two years, is scheduled to open on April 6, 2016—with performances by The Killers with Wayne Newton & Shamir—is secure in its ability to be able to continuously fill the 20,000-seat multipurpose event and convention center. Later this year, Aria will bring an additional 200,000 square feet of flexible meeting space at a cost of $154 million. Additionally, the LVCVA’s Convention Center District’s over $9 billion master plan will yield an entire “convention city,” leading to exponential convention growth opportunities starting late 2017.

You might be aggravated at times, perhaps thinking it’s a tad bit congested in Las Vegas. After all, there are nearly 44,000 cars daily crossing the California-Nevada state line, with another 45 million people annually entering via airlines, but it’s pure business, baby, and that’s what continues to make Las Vegas vibrant, energetic and pure platinum.

To read more exciting articles, visit robjensen.com/news

702.605.7480 | robjensen.com

9857 W. La Mancha Avenue

Pine Ridge Estates

| $1,600,000

Highly customized DR Horton home featuring Venetian plaster walls, eight-inch hardwood crown molding, and travertine and 120 year-old reclaimed barn wood flooring. 55 feet of RV/ boat parking and a 30x25 foot covered patio with built-in grill and island seating alongside the saltwater pool. Private gated courtyard and detached second-floor office. It’s a good life.

204 Satin Mist Court

The Palisades

11328 Golden Chestnut Place

| $1,499,000

Guard gated in Summerlin with cul-de-sac location. From the gated courtyard entrance to the incredibly huge backyard, this home offers space and privacy. Upgraded kitchen and large formal spaces are great for entertaining, and the master bed and bath will wrap you in comfort. 131 Italian Cypress trees create a living wall around the 4,800 sq.ft. of grass and tranquil blue pool, and make the rear lawn one of the most private in the valley.

robjensen.com

702.605.7480

Red Rock Country Club | $1,050,000

This home has a fine location with spectacular mountain views and tranquil golf frontage near the 10th hole’s waterfalls and lakes. Built around an interior atrium, the sprawling floor plan offers formal and informal spaces, multiple views from every room, a grand entryway, custom chandeliers, and five balconies including a private master balcony. Recently updated, the kitchen and baths are beautifully decorated with new appliances, granite, marble and tile highlights.

10161 Park Run Drive, Suite 150 Las Vegas, NV 89145

Ds! L O ay

S 4D in

11476 Morning Grove Drive

Red Rock Country Club $ 1,545,000

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

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Great Time to Sell! Call Rob Jensen today to sell your home. 702.605.7480