Rob's Report – March 2017

ROB REPORT SUMMERLIN, LAS VEGAS & HENDERSON March 2017

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D L

SO

CALL robjensen.com

702.605.7480

7 Boulder Crossing Circle

The Ridges |

2,220,000

$

Upgrade your lifestyle. From the Crestron smart-home system to the high-end gourmet kitchen, this remarkable custom home defines modern living. Its desert-contemporary architecture is on the cutting edge of upscale Las Vegas design, and the stone, wood and exposed-concrete finishes combine to create a refined atmosphere. Celebrating the natural desert beauty, pocket doors open to the tranquil inner courtyard, sunken sports court, and the resort-style pool and spa.

SOLD PROPERTIES | ADDRESS

SF

SOLD PRICE

SUMMERLIN, LAS VEGAS & HENDERSON PRICE /SF

ADDRESS

SF

SOLD PRICE

PRICE /SF

GATED Barrington

Summerlin

Serrano

Canyon Crest

Summerlin

Park Trail Estates

Las Vegas

The Lakes, Northshore & Beachview Estates

Las Vegas

No closed sales for the month of February.

No closed sales for the month of February.

Canyon Ridge

400 Summer Mesa Drive

2,951

Summerlin $825,000 $280

Canyon Terrace

No closed sales for the month of February.

Desert Trails

2012 Slow Wind Street

Mira Villa

9213 Las Manaitas Ave #201

Summerlin

4,059

Summerlin $785,000 $193

2,333

Summerlin $685,000 $294

717 Tandoori Lane

Summerlin 4,639 $1,200,000 $259

No closed sales for the month of February.

No closed sales for the month of February.

Seven Hills - Marquis 1328 Villa Barolo Avenue

Henderson 6,815 $2,575,000 $378

Seven Hills - Portofino

Henderson

Sky Terrace

Henderson

No closed sales for the month of February.

No closed sales for the month of February.

Dear Friends, March traditionally kicks off the strongest real estate selling season in our Las Vegas valley. The daily sunshine we’re all accustomed to is here to stay, daylight savings time has begun, and more qualified buyers will be out and about viewing available homes. Here are some thoughts on market conditions for the coming months...

The resale luxury home market picks up steam now and continues strong through July. Sales then begin to taper off at the end of August as we head into fall. It takes time to get your home prepared, listed on the market, and sold for top dollar. If you’re serious about selling your home this year, March is THE month to call us and get started.

Interest rates are still incredibly low now, but The Federal Reserve continues to advise that interest rate hikes are coming, with possibly up to three increases this year alone. The Fed’s greatest fear is inflation – both real and imagined. The policymakers hedge against inflation by raising interest rates. Obviously this will reflect in higher mortgage interest rates. When interest rates go up, home values are affected because there are less total potential buyers that qualify for the more expensive houses.

We may be in an asset bubble. As our S&P 500 graphic in this issue shows, the stock market is currently over 50% higher than with the previous bubbles. I’m a high-end residential real estate expert, not a macro economics professor, but The Fed has been priming our nation’s financial pump for numerous years and it will not continue forever. Here’s the best advice I can give you on any form of bubble: It’s always better to get out a bit early rather than too late.

We specialize in 43 guard gated and select gated communities in Summerlin, Las Vegas and Henderson. You can benefit from my 14+ years of experience in luxury residential real estate.

Please contact me at 702-605-7480 and I’ll be pleased to explain precisely how we can help you.

Sincerely,

Rob Jensen Broker/President

SOLD PROPERTIES | ADDRESS

SF

SOLD PRICE

SUMMERLIN, LAS VEGAS & HENDERSON

PRICE /SF

ADDRESS

SF

SOLD PRICE

PRICE /SF

GUARD GATED Aventura* Bellacere

10217 Stony Ridge Drive

Summerlin 3,888

Canyon Fairways* Corta Bella

1829 Dolce Drive

Summerlin 3,510

Country Club Hills* Country Rose Estates 9705 Cameo Rose Lane

Summerlin $964,500 $248

Summerlin $599,900 $171 Summerlin

2,628

Summerlin $391,500 $149

Queensridge

9729 Gavin Stone Avenue 920 Granger Farm Way 9521 Verlaine Court

Regency at the Lakes* Southern Highlands

5 Wood Creek Court (SS) 12058 Whitehills Street 11992 Whitehills Street 11926 Whitehills Street

Las Vegas

Spanish Trail*

Eagle Rock*

Summerlin

Ten Oaks

The Palisades

10212 Stone Briar Court

Red Rock Country Club 2112 Country Cove Court 2055 Alcova Ridge Drive 2603 Red Springs Drive 2178 Orchard Mist Street 2014 Country Cove Court 2162 Country Cove Court 2893 Red Springs Drive 2507 Red Springs Drive

The Ridges

16 Soaring Bird Court 68 Panorama Crest Avenue

Summerlin 5,423 $1,300,000 $240 Summerlin 6,449 $1,175,000 $182 4,107 5,224 3,085 5,037 2,526 4,107 3,343 4,899

Summerlin $944,500 $230 $1,250,000 $239 $975,000 $316 $1,375,000 $273 $610,000 $241 $1,015,000 $247 $640,000 $191 $1,200,000 $245

Summerlin 11,433 $3,800,000 $332 3,766 $1,050,000 $279

Tournament Hills*

Summerlin

The Vineyards*

Summerlin

Willow Creek*

Summerlin

Canyon Gate

Las Vegas $420,000 $210

9009 Rivers Edge Drive

2,000

One Queensridge Place

Las Vegas 2,271 $800,000 $352 3,856 $2,150,000 $558

9101 Alta Drive #607 9101 Alta Drive #1202

Las Vegas 11,861 $3,500,000 $295 3,365 $760,000 $226 3,220 $1,100,000 $342 3,888 $700,000 $180 Las Vegas

Summerlin

9804 Moonridge Court

Las Vegas

Spanish Hills*

Eagle Hills*

Mountain Trails

Las Vegas 2,782 $640,000 $230 2,471 $500,000 $202 4,855 $1,385,000 $285

Las Vegas $730,000 $167

7424 Doe Avenue

4,372

Anthem Country Club

Henderson 4,025 $1,060,000 $263 $915,000 $201 4,544 $470,000 $217 2,164 $610,000 $201 3,037

11 Pine Hollow Drive 22 Golf Crest Court 45 Hunt Valley Trail 46 Desert Highlands Drive

The Fountains

2300 Prometheus Court 2224 Chatsworth Court

Hillsboro Heights

1867 Woodhaven Drive (SS) 195 Springfield Street

3,985 5,383

Henderson $835,000 $210 $959,900 $178

5,332 4,387

Henderson $580,000 $109 $540,000 $123

Legacy Estates* MacDonald Highlands

1402 Foothills Village Drive 1421 Foothills Village Drive

Henderson 4,107 4,107

Henderson $840,000 $205 $950,000 $231

Roma Hills*

Henderson

Seven Hills - Rapallo*

Henderson

Seven Hills - Terracina/Venezia*

Henderson

*No closed sales for the month of February REO - Bank Owned Forelcosure SS - Short Sale

10967 Willow Valley Court

This entertainer’s dream home is a custom two and is situated on a large corner lot. It features h main living areas and luxurious carpet in the ma with fireplace, 20' vaulted ceilings and rear yard room features French doors and wet bar, whil closets and its own private balcony overlooking

Willow Creek | $1,499,000

o-story property in guard gated Willow Creek ardwood and marble flooring throughout the ster suite. The formal living room is complete d access. A fourth bedroom or optional game e an upstairs bedroom features two walk-in the rear yard.

HOW’S THE MARKET? | HOME PRICING

GUARD GATED SALES STATISTICS - February

HOMES FOR SALE

IN ESCROW

SOLD

EXPIRED

ABS RATE/ MONTH

$500-$750K

100

38

14

10

6.8

$750K-$1MM

88

24

10

8

10.2

$1-$1.5MM

99

22

9

2

11.2

$1.5-$2MM

40

22 Sales in Last 6 Months

9

0

2

14

$2-$2.5MM

33

16 Sales in Last 6 Months

3

1

0

14.4

$2.5-$3MM

21

5 Sales in Last 6 Months

4

0

1

25

$3-$4MM

28

7 Sales in Last 6 Months

2

2

2

25.7

$4MM+

49

1 Sale in Last 6 Months

1

0

2

25 (Years)

MARKET TRENDS |

MONTHLY & YEARLY

Sold Properties

-16% 43

Jan '17

36

Feb '17

Month over Month

Active Listings

534

561

Jan '17

Feb '17

Sold Properties

43

Feb '16

+5.1% Month over Month

Active Listings

-16%

596

561

Year over Year

Feb '16

Feb '17

-5.9%

36

Feb '17

Year over Year

702.605.7480 | robjensen.com

S&P 500 Index at Record Highs!

What's Next?

The Standard and Poor’s 500 Index (S&P 500) is a stock market grouping based on the market capitalizations of 500 large companies with common stock listed on the NYSE or NASDAQ stock markets. Many economists regard this Index as a barometer for the economy as a whole.

The graphic above depicts the historical S&P 500 Index. Notice the increase that has built up since 1995.

We have been at record highs for the last 4 years. This shows that the US economy is generally strong and consumer confidence is high.

robjensen.com

702.605.7480

You may also notice the “corrections” in March 2000 and October 2007. These declines show the bursting of the Tech and Real Estate bubbles respectively. We do not have a crystal ball and will not pretend to know when the next correction will occur. It could be this year or years from now. But it will happen at some point in time. It may be a small correction or it could be as drastic as the previous two. No one knows for sure.

If you’d like to sell your house before the next correction hits, please call us now at 702-605-7480.

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

11493 Timber Mountain Avenue Red Rock Country Club | $599,000

This beautiful single story home is located behind the West Gate of Red Rock Country Club and features a gated courtyard with remote intercom and lock for the security conscious. Cherry-finished cabinetry contrasts with the polished travertine floors.

The open layout kitchen boasts GE Monogram appliances, a Kohler touchless faucet, and a Bosch dishwasher. The master suite truly shines with direct access to the private rear yard and raised meditation patio. Secluded and private back yard, recently refreshed.

Inside Featured Properties,

Closed Sales and Trends for 43 Guard Gated & Select Gated Communities in Summerlin, Las Vegas and Henderson!

Thoughts of Selling?

Stay in the know with the latest guard gated & gated real estate news!

Call us today to sell your home! 702.605.7480