ROB'S REPORT SUMMERLIN, L AS VEGAS, & HENDERSON D EC E M B E R 2 019
10133 SUMMIT CANYON DRIVE
#10133SummitCanyon
BELLACERE | $1,899,000
5,833 Square Feet | 4 Bedrooms | 6 Bathrooms | Two-Story Peacefully secluded from the commotion of the city on nearly half an acre, this custom two-story estate presents the rare opportunity to live on the most tranquil street in Bellacere—a guard gated community renowned for its proximity to all the great things that Summerlin has to offer. Highlighted by marble floors, an abundance of wood built-ins, and a thoughtfully designed floor plan, the interior of this Christopher Homes estate is as elegant as it is functional. This lot overlooks a gorgeous, tree-lined green belt, making the wraparound yard with pool and spa an oasis like no other.
Dear Friends, Properly pricing luxury residential real estate for sale is 5% art and 95% science. The science is based on knowledge and experience. Pricing a home always considers comparable sales, or comps for short. When evaluating comps, it’s best to have an “apples to apples” comparison. However, while this is easy for standard tract homes, it’s much more complicated for the custom luxury home communities we specialize in. Guard gated neighborhoods have a wide range of luxury home styles, square footages, finishes, lot sizes, and views. So it’s important to have a professional team on your side that understands there’s rarely an exact comparable sale. Therefore, we use our extensive community-specific knowledge to price your luxury home at the optimum sales price—in other words, a price that we can justify by the actual comps that align with your home. Often, buyer’s agents are not as accurate. They choose low-ball sales for comps during price negotiations. After all, it’s their job to try to diminish the value of your home so their buyer gets a lower price. We always protect our seller clients from inaccurate and unfair comparable sales because we are prepared for these tactics from the start. In addition to proper pricing, it’s also important to understand your goals and provide a customized sales strategy. Our seller clients understandably have a primary goal of selling for the highest price. However, we always go beyond that. Some sellers have a time deadline. Others are fine taking their time. Some already have a new home purchase in mind. Others are just starting their search. Regardless of the situation, every luxury home seller deserves the personalized sales strategy we provide. We are guard gated real estate experts with decades of experience in your community. Therefore, we know the specific details of all the recent home sales in your neighborhood. Please call us at 702.605.7480, and we’ll be glad to explain how our expertise can be used to your advantage.
Sincerely,
Rob Jensen Broker / President
FOR THE MONTH OF| APRIL 2017 SOLD PROPERTIES GUARD GATED FOR THE MONTH OF NOVEMBER 2019
LAS VEGAS
SUMMERLIN ADDRESS Canyon Fairways 9305 Canyon Classic Drive 413 St Andrews Court Country Rose Estates 2000 Scarlet Rose Drive 2012 Scarlet Rose Drive 2209 Timber Rose Drive (SS) Eagle Hills 9208 Golden Eagle Drive The Palisades 413 Grand Augusta Lane 10408 Mansion Hills Avenue Red Rock Country Club 2155 Alcova Ridge Drive 1911 Alcova Ridge Drive 2301 Alcova Ridge Drive 2406 Grassy Spring Place 11406 Sandstone Ridge Drive The Ridges 15 Cross Ridge Street 11 Drifting Shadow Way 4 Flying Cloud Lane 20 Garden Shadow Lane 75 Glade Hollow Drive 59 Promontory Ridge Drive 11 Sable Ridge Court The Vineyards 10717 Beringer Drive Willow Creek 10955 Iris Canyon Lane
SF
PRICE
P/SF
4,821 4,978
$1,382,000 $1,825,000
$287 $367
2,934 2,628 2,417
$516,000 $485,000 $400,000
$176 $185 $165
5,119
$1,125,000
$220
5,252 4,586
$1,450,000 $1,025,000
$276 $224
5,037 4,182 2,837 5,687 3,343
$1,250,000 $1,100,000 $955,000 $1,430,000 $875,000
$248 $263 $337 $251 $262
3,955 5,102 8,567 4,172 3,776 13,943 10,298
$1,325,000 $3,080,000 $4,550,000 $1,250,000 $1,437,500 $6,250,000 $5,250,000
$335 $604 $531 $300 $381 $448 $510
3,392
$650,000
$192
4,044
$1,100,000
$272
*No closed sales for the month of November in Aventura, Bellacere, Corta Bella, Country Club Hills, Eagle Rock, Mountain Trails, Tournament Hills, Regency at the Lakes, Ten Oaks, Hillsboro Heights, Legacy Estates, Seven Hills Rapallo, and Seven Hills - Terracina/Venezia. SS - Short Sale
ADDRESS Canyon Gate 2108 Bay Hill Drive Queensridge 805 Lone Tree Street 9733 Queen Charlotte Drive 9604 Royal Lamb Drive 713 Sir James Bridge Way 9708 Winter Palace Drive Southern Highlands 3546 Alpine Lily Drive 3344 Birchwood Park Circle 11866 Brigadoon Drive 11817 Oakland Hills Drive 52 Olympia Canyon Way 40 Olympia Ridge Drive Spanish Hills 4963 Mesa Capella Drive Spanish Trail 10 Innisbrook Avenue
SF
PRICE
P/SF
3,146
$510,000
$162
4,561 5,252 3,176 2,471 7,227
$950,000 $1,100,000 $680,000 $610,000 $1,800,000
$208 $209 $214 $247 $249
2,440 2,742 5,434 5,772 8,723 6,103
$570,000 $650,000 $1,595,000 $1,715,000 $3,621,795 $1,429,999
$234 $237 $294 $297 $415 $234
4,286
$785,000
$183
7,086
$1,495,000
$211
HENDERSON ADDRESS Anthem Country Club 30 Candlewyck Drive 34 Chalet Hills Terrace 6 Feather Sound Drive 43 Gladewater Drive 4 Haig Point Court 5 Perry Park Court 1 Perry Park Court 10 Sankaty Circle 6 Weston Hills Road The Fountains 2283 Buckingham Court 2220 Chatsworth Court 2270 Trafalgar Court 2364 Villandry Court 2330 Villandry Court 2353 Villandry Court MacDonald Highlands 1704 Choice Hills Drive 1397 Foothills Village Drive 667 Palisade Rim Drive 661 Ridgestone Rim Court Roma Hills 1788 Amarone Way 768 Dibasio Court
SF
PRICE
P/SF
3,037 3,374 2,513 2,328 1,720 3,677 1,942 7,477 1,905
$999,000 $875,000 $622,000 $550,000 $475,000 $870,000 $537,999 $1,775,000 $512,000
$329 $259 $248 $236 $276 $237 $277 $237 $269
6,076 3,838 4,625 5,766 4,705 3,831
$1,290,000 $799,900 $850,000 $1,000,000 $925,000 $830,000
$212 $208 $184 $173 $197 $217
3,220 3,739 4,999 7,306
$780,000 $1,050,000 $2,325,000 $3,763,800
$242 $281 $465 $515
3,670 5,159
$770,000 $1,275,000
$210 $247
HOW’S THE MARKET? | GUARD GATED SALES STATISTICS - NOVEMBER UNDER CONTRACT
SOLD
EXPIRED
ABS* RATE (MONTHS)
104
26
28
2
5.2
$750K-$1M
83
15
16
8
6.1
$1M-$1.5M
95
26
18
7
8.1
$1.5M-$2M
60
9
5
4
11.5
$2M-$2.5M
37
5
2
0
10.5
$2.5M-$3M
20
4
0
0
48
$3M-$4M
38
4
3
0
21
$4M+
61
7
3
0
34
PRICE RANGE $500K-$750K
FOR SALE
*Absorption 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), 12/1/19. 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 |
MONTHLY & YEARLY
ACTIVE LISTINGS
CLOSED SALES
594
-5.9% +6.6%
over last year
594 631
Year over Year
Nov '18
over last month over last year
Month over Month
Oct '19
Nov '19
+14% +42%
over last month
Month over Month Nov '19
75
75
Nov '19 66
Oct '19 Year over Year
594 557
75
Nov '19 Nov '18
53
#10725Rivendell
10725 RIVENDELL AVENUE WILLOW CREEK | $799,000
3,792 Square Feet | 5 Bedrooms | 5 Bathrooms | Two-Story Located among some of the best schools, parks, shopping, and golf courses that Summerlin has to offer, this two-story home sits on a quiet street in Wood Glen—a subdivision of the 24-hour guard gated community of Willow Creek. Enter the majestic foyer and discover a contemporary interior accented by modern light fixtures, porcelain wood look tile, floating vanities, and tray ceilings. The open floor plan of this home creates a seamless flow between the expansive living room with 17’ vaulted ceilings, the formal dining room, and the great room with built-in fireplace.
Luxury Real Estate Talk Podcast, where you get expert advice on buying and selling Luxury Real Estate. Learn from the best and brightest real estate agents, brokers, and other professionals, as they share real-life stories about the art and business of listing, marketing, buying, and selling high-end homes.
EPISODE 17 WITH
MICHAEL LAFIDO Election Year Uncertainty, Gauging the Market, & Making Your Home Stand Out.
EPISODE 18 WITH
AMIT BHUTA A.I. Aided Negotiations, Selling to Celebrities, & Innovative YouTube Marketing.
EPISODE 19 WITH
SCOT DRUCKER Well Connected Agents, Tech Savvy Marketing, & Expert Advice for Sellers.
To Subscribe, Visit: robjensen.com/the-podcast
Nobody likes to miss out on tax-free money, but plenty of homeowners are unaware that they could be eligible for up to $500,000 in tax-free profits when selling their home. Even though Congress instituted the largest tax law changes since 1986 with the “Tax Cuts and Jobs Act” on December 22, 2017, we still have one of the best tax saving provisions available for exclusion of primary residence gains. Read on to learn more information about these provisions, courtesy of CPA Scott W. Taylor… Under the home-sale exclusion rule, you may be able to exclude a portion, or possibly all, of the gain realized from the sale of your home if your home met the principal residence rules. During the five-year period ending on the date of the sale you must have owned and used the property as your principal residence for a period aggregating two or more years. You need not have lived there continuously to qualify. You may use the exclusion provided the eligibility requirements are met, but generally no more frequently than once every two years. The amount of the exclusion is generally limited to $250,000 for single individuals and married individuals filing separately. The exclusion is increased to $500,000 in the case of married couples filing a joint return, where: 1. At least one requirement.
spouse
meets
the
ownership
2. Both spouses meet the use requirement. 3. Neither spouse is ineligible for the benefits because he or she excluded gain on the sale or exchange of a home under the new provision within the past two years.
The $500,000 exclusion amount also applies to a sale by a surviving spouse within two years of the death of the deceased spouse (provided the ownership and use requirements are otherwise met). If a taxpayer marries someone who is ineligible, the taxpayer generally remains eligible for a maximum exclusion of $250,000. If you fail to meet the ownership and use requirements due to a change in place of employment, health, or other unforeseen circumstances, you may exclude a fraction of the $250,000/$500,000 amount. Special rules apply in determining ownership and use if you are receiving out-of-residence care, inheriting property from a spouse, transferring property pursuant to a divorce, or disposing of property where the rollover rules applied. The exclusion rule also generally applies to the sale of a remainder interest in a principal residence, if all the other requirements are met. Thus, you may retain a life estate in your home while selling the remainder interest. The exclusion rule requires gain recognition to the extent of any depreciation taken after May 6, 1997, for the rental or business use of your home. If you have a gain in excess of $250,000 ($500,000 if married and filing jointly) when you sell your home, you will now be liable for income tax on the excess gain in the year of sale. No deduction is allowed if your home is sold at a loss. You should meet with your CPA to discuss the application of these provisions to your particular situation.
10785 W. Twain Avenue, Suite 110 Las Vegas, NV 89135
SOLD!
15 CROSS RIDGE STREET SOLD IN THE RIDGES - $1,325,000
robjensenco
robjensen.com
702.605.7480