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Susan Marques Luxury Real Estate Las Vegas, Nevada
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The Value of an Agent When Buying Your New Construction Home

Buying a new construction home can be an exciting experience. From being the very first owner, to customizing your home’s features, there are a lot of benefits. But navigating the complexities of buying a home that’s under construction can also be a bit overwhelming. This is where a skilled real estate agent can make all the difference.

An article from The Mortgage Reports sums it up like this:

“Your Realtor or real estate agent will be key to helping you navigate this process. . . . they can guide you through construction and help anticipate and solve for any possible snags along the way.”

Here’s how your agent is an invaluable resource in your search to find and buy your new home.

Agents Know the Local Area and Market

Your agent is well-versed in the emerging communities and upcoming developments that could influence your decision. It’s important to consider how the neighborhood and the surrounding area might evolve before making your home purchase. Your agent can help you find a community that perfectly aligns with your preferences, lifestyle, and future needs.

Knowledge of Construction Quality and Builder Reputation

An agent also has the expertise to evaluate the construction quality and reputation of different builders. Their knowledge and experiences with local builders allow them to offer insights into each one’s track record, customer satisfaction, and construction practices. This information can help you avoid any potential risks and help you confidently select a builder known for delivering quality homes.

Assistance with Customization and Options

The most obvious benefit of opting for new home construction is the opportunity to customize your home to suit your preferences. Your agent will guide you through that process and share advice on the upgrades that are most likely to add long-term value to your home. Their expertise ensures you focus your budget on areas that will give you the greatest return on your investment later on.

Understanding Builder Contracts and Negotiations

Builder contracts can be complex and differ from traditional home purchase agreements. Your agent can help you navigate these contracts to make sure you fully understand the terms and conditions. They’re also skilled negotiators who can advocate on your behalf, potentially securing better deals, upgrades, or incentives for you throughout the process.

Bottom Line

The guidance and expertise of a local real estate agent can make all the difference in turning your vision of the perfect home into a reality. Let’s connect so you can feel confident about purchasing your new construction home!

Sincerely,

Susan Marques | Virtue Real Estate Group | BS.0146408

click here to connect!
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August Market Report & Metrics Explained

Whether you are a buyer or a seller, understanding real estate metrics is crucial in making informed decisions in the housing market. So, let’s dive right in and explore the correlation between these real estate indicators.

Months Supply of Inventory

Did you know that currently there are only 1.9 Months Supply of Inventory? This means that demand is high, and the market is favoring sellers. Over the last 12 months, we’ve seen a -16.3% decrease in Months Supply of Inventory, indicating a tightening market.

Months Supply of Inventory metric represents the number of months it would take to sell all the available homes on the market if no new listings were added. A lower value indicates a seller’s market, where demand exceeds supply, resulting in potentially higher prices. With a months supply of inventory of 1.97, we can conclude that the market leans towards a seller’s market, indicating a high level of demand.

12-Month Change in Months of Inventory

Next, we have the 12-Month Change in Months of Inventory, which is at -16.88%. This metric showcases the percentage change in the months of inventory over the past year. In this case, the negative value indicates a decrease in the number of months it would take to sell all the available homes. This further supports the notion of a seller’s market, as the decrease suggests a tightening supply and increased competition among buyers.

Median Days Homes are On the Market

Median Days Homes are On the Market, stands at a mere 20 days as of August, 1st 2023. This metric represents the average number of days it takes for a home to be sold after being listed. A lower value suggests a faster-paced market where properties are in high demand and attract eager buyers. With a median of only 20 days, we can infer that the real estate market is highly active, with properties being snatched off the market relatively quickly.

List to Sold Price Percentage

List to Sold Price Percentage, currently stands at an impressive 98.6%. This metric illustrates the percentage of the listing price that a property ultimately sells for. A higher percentage indicates that sellers are receiving offers close to their asking prices, reflecting a strong market where buyers are willing to meet sellers’ expectations. With a list to sold price percentage of 98.6%, we can conclude that sellers in this market have been successful in negotiating deals close to their asking prices.

Median Sold Price

Median Sold Price, which is at a substantial $443,250. This metric represents the midpoint of all the sold prices in a given area, providing insight into the overall pricing trends. With a median sold price of $443,250, we can deduce that the market is experiencing healthy price levels, reflecting strong demand and value in the housing market.

In summary, the correlation between these real estate metrics paints a promising picture for both buyers and sellers. The low months supply of inventory, coupled with a decrease in the months of inventory over the past year, suggests a seller’s market with high demand and potential for increased prices. The short median days homes are on the market further reinforces this notion, indicating a fast-paced market where properties are selling swiftly. Additionally, the high list to sold price percentage signifies that sellers are achieving their desired prices, while the substantial median sold price suggests a healthy and valuable market.

With these metrics in mind, buyers can approach the market with a sense of urgency and be prepared to make competitive offers, while sellers can expect strong demand and potentially favorable selling conditions. As always, it is crucial to consult with a trusted real estate professional to navigate this dynamic market successfully.

👉 Whether you’re looking to buy or sell, Susan Marques, your dedicated REALTOR®, is here to guide you through the dynamic Las Vegas real estate market.

Contact her today to discuss your goals and make the most of these favorable market conditions.

📞 702.816.1002

🌟 [email protected]

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$15,000,000 New American Home of 2023 at Ascaya Henderson, NV

Situated amidst the prestigious Ascaya community, 19 Rockstream Drive stands out as a modern architectural marvel that embodies nature-friendly net-zero design, supreme privacy, and breathtaking views of the McCullough Mountain Range and Las Vegas Strip.

The 2023 New American Home showcases industry innovations, revolutionary design concepts, construction techniques and lifestyle trends.

Las Vegas Review Journal
Photo Courtesy from The Agency Listing presented by Kylie Lum & Melissa Tomastik

This stunning 5-bedroom, 7-bathroom, 8,211-square-foot was awarded the prestigious designation of the 2023 New American Home during the annual Las Vegas International Builders’ Show. Created by the highly acclaimed Nevada-based LUXUS Design Build team, has been deemed the New American Home 2023, a coveted honor in the world of luxury homes.

Michael Gardner, principal and founder of Studio g Architecture and Luxus Design Build, was awarded the project.

Las Vegas Review Journal

With completion and furnishing support from MASS Beverly Los Angeles, this turnkey estate boasts a plethora of lavish amenities and ingenious design elements. The chef’s kitchen, 452-bottle wine wall, and home office are just a few of the remarkable features that highlight the home’s thoughtful and meticulous construction and decoration. From its luxurious finishes to expert detailing, this property is the pinnacle of high-end living.

Emerald” certification, the highest honor offered by the National Association of Home Builders.

Las Vegas Review Journal

The primary suite is certainly a homeowner’s dream, with an infrared sauna, kitchen, and lounge area that offer a resort-style retreat inside your own residence. Step outside and explore the home’s 2,000+ square feet of outdoor living space, where an extraordinary retreat awaits. The area boasts two pools, a spa, and two kitchens that extend your living space beyond the home’s walls to take in the natural surroundings, perfect for entertaining friends or simply enjoying some quiet time.

Virtue Luxury Real Estate Group
BS.0146408

Susan Marques

Listing presented by Kylie Lum & Melissa Tomastik

References: 
Las Vegas Review Journal - “New American Home to list for $15M” by Valerie Putnam Real Estate Millions (March 10, 2023)
The Agency “ 19 Rockstream Drive Ascaya, Henderson, NV 89012”
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Why Aren’t Home Prices Crashing?

There have been a lot of shifts in the housing market recently. Mortgage rates rose dramatically last year, impacting many people’s ability to buy a home. After several years of rapid price appreciation, home prices finally peaked last summer. These changes led to a rise in headlines saying prices would end up crashing but now we are seeing a rise in some areas and leveling in others. 

With low inventory and buyer demand nearly 1 in 4 home sellers are planning on selling their homes within the next 3 years according to a recent study by Zillow. The highest percentage ever recorded by Zillow since they started tracking this data. 

“An annual gain in home sales will not occur until 2024,” said Yun. “Meanwhile, home prices will be steady in most parts of the country with a minor change in the national median home price,” CNN Business. 

According to Yun, that’s limiting just how low or high prices will go in inventory. “We simply don’t have enough inventory. Will some markets see a price decline? Yes. [But] with the supply not being there, the repeat of a 30 percent price decline is highly, highly unlikely.”

As you can see in the graph below, we’ve been at or near record-low inventory levels for a few years now.

That lack of available homes on the market is putting upward pressure on prices. Bankrate puts it like this:

“This ongoing lack of inventory explains why many buyers still have little choice but to bid up prices. And it also indicates that the supply-and-demand equation simply won’t allow a price crash in the near future.”

If more homes don’t come to the market, a lack of supply will keep prices from crashing, and, according to industry expert Rick Sharga, inventory isn’t likely to rise significantly this year:

“I believe that we’re likely to see low inventory continue to vex the housing market throughout 2023.”

Sellers are under no pressure to move since they have plenty of equity right now. That equity acts as a cushion for homeowners, lowering the chances of distressed sales like foreclosures and short sales. And with many homeowners locked into low mortgage rates, that equity cushion isn’t going anywhere soon.

With so few homes available for sale today, it’s important to work with a trusted real estate agent who understands your local area and can navigate the current market volatility.

Bottom Line

A lot of people expected prices would crash this year thanks to low buyer demand, but that isn’t happening. Why? There aren’t enough homes for sale. If you’re thinking about moving this spring, let’s connect.

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Is Las Vegas Running Out of Land? NW Real Estate Boom Forecast 

With no state income tax, access to the greatest entertainment 24/7, exceptional dining experiences, great outdoor sports and now professional sports teams – it’s no brainer why Las Vegas is growing at a rapid rate but the valley is surrounded by mountains with limited to no expansion. So the big question is this: Is Las Vegas running out of land?

“North Las Vegas is set to add more than 100,000 residents by 2030. The northwest isn’t the only area in the valley expected to see a boom over the next decade,”

 KTNV – Las Vegas, Nevada. 

Las Vegas & Henderson Fastest Growing Cities in Nevada 

Las Vegas and Henderson are the fastest growing cities in Nevada.  North Las Vegas is experiencing a surge in manufacturing and warehousing businesses, creating an abundance of jobs that call for housing, according to John Lee, the mayor of North Las Vegas. Mayor Lee recognizes the great opportunity this provides to fill the city’s available land with homes while adding hundreds of new members to its workforce.

Henderson is positioned to become a major destination for businesses and residents looking to move into the Las Vegas valley as well. With close to 70,000 new residents expected in the coming decade, West Henderson and Cadence, located on the Eastside of Henderson, are at the center of its growth trajectory. 

According to City Planner Richard Derrick’s public statement:  “The new corporate headquarters of the Las Vegas Raiders, the soon to be completed home of the Henderson Silver Knights and new developments by businesses such as Google and Haas Automation show that Henderson continues to diversify as it grows.”

Buy, Sell, Invest.

Servicing the Las Vegas and Henderson, Nevada area. Providing an unparalleled luxury concierge experience tailored to each client.

Connect with me to get started!

Growth Outward or Upward? 

Nevada tops the list as having more of its land owned by the federal government than any other US state. This amounts to a staggering 27% of total acreage across all fifty states, amounting to 615 million acres reserved primarily for conservation and recreation purposes.  So with all this demand will housing in the Las Vegas Valley grow outward, upward – or both?  Most likely the latter but while land is in high demand Northwest Las Vegas may have the upper hand. 

“More than 85 percent of Nevada’s land area is owned and administered by the federal government,”

Nevada Legislature.

NW Las Vegas Booming Real Estate Forecast

With 100,000 residents anticipated to move to NW Las Vegas by 2030 land is a true commodity – especially in the booming Northwest so wanted to bring two expansive plots of land to your attention. 

‘Located on Grand Teton Dr. and Rainbow Blvd. This property has an average annual daily traffic count of 7,638 vehicles, “Templeton Development.

Build your dream Home with no limits on this property that encompasses five parcels totaling +/- 37.5 gross acres zoned Rural Residential in the highly desired area of the booming NW Las Vegas, Nevada. Mountain views surround this perfectly located property adjacent to the master plan community of Silverstone Ranch, a master plan community of 1,526 homes,  and the beautiful Gilcrease Orchard.

“Through their non-profit foundation, they aimed to provide recreational and educational experiences that teach children where our food comes from and how it is grown, helping to foster an appreciation for the earth’s bounty and a healthy lifestyle,

Gilcrease Orchard.” 

Build Your Dream Home Custom Home Site

±37.5 Acres at the NEC and SEC of W Grand Teton Dr and  N Rainbow Blvd

Azure & Starlight

Located at the SEC of W Azure Dr and Starlight Dr, less than 1 mile east of the Wal-Mart / Sam’s Club-anchored Centennial Center

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Why Luxury Homes Are in High Demand

As people realize their needs are changing, some are turning to luxury housing to find their dream home. Investopedia helps define what pushes a home into this category. In a recent article, they point out that a luxury home isn’t only defined by its price. Location is also an important factor.

It could be a High Rise condo in Las Vegas, a spacious home in a guard gated community or one with access to luxury amenities and entertainment. The home itself will also boast some of the finest features available. According to the Luxury Market Report from the Institute for Luxury Home Marketing, there’s been a substantial increase in how many buyers are purchasing luxury homes over the past two years. It says:

Veer Towers High Rise Amenities (Living Las Vegas, NV)

“. . . North America recorded the fastest growth of demand during the first year of the pandemic. Also, demand has . . . consistently increased, and even in April 2022, we saw a higher volume of sales compared to 2021.”

The Institute of Luxury Home Marketing

If you own a luxury home, it could be a great time to list your house today while demand is so high. But first, let’s understand where the demand is coming from.

What’s Driving the Heightened Buyer Demand for High-End Homes?

The same report says more people have reached a certain net-worth threshold, and that’s contributing to the increased interest in luxury housing:

“In 2020, we saw a 2.2% growth in the number of individuals with wealth of over $5 million in net value, but in 2021 that number grew by an outstanding 19.8%. This total increase has resulted in the introduction of over 660,000 new individuals into the high net-worth bracket, which, combined with the existing affluent looking to both diversify and add new properties to their portfolio, provides a true insight into why the demand for luxury properties skyrocketed during 2021 and into 2022.”

So, if you’re looking to make changes to your real estate portfolio or are looking to sell your current house, it may be a great time to list and benefit from the high demand for luxury homes today.

KEY TAKEAWAYS
Real estate isn’t considered luxury just because it’s expensive. It also must be unique, exclusive, and perceived as superior.
High-end buyers want access to activities such as luxury shopping, dining, and the arts, as well as proximity to similar homes.
Luxury real estate investors can flip a mansion, invest internationally, buy a luxury condo, buy a high-end vacation property, or build from scratch.

Investopedia 

Bottom Line

If you own a luxury home and want to know how strong demand is in your area, let’s connect so you can capitalize on current market conditions while buyer demand for upscale homes is so high.

Bottom Line

If you own a luxury home and want to know how strong demand is in your area, let’s connect so you can capitalize on current market conditions while buyer demand for upscale homes is so high.

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Positive Outlooks for Las Vegas Living in 2023

As 2022 drew to an end, it marked a truly remarkable year for Southern Nevada! From incredible population growth and financial gains across the board to record-breaking airport passenger counts, there was no shortage of successes. Now in 2023, expectations are high with state & local budget surpluses galore plus Las Vegas’ biggest convention/meeting calendar ever and international tourism surging back – topped off by MSG Sphere opening as well as what could be our first billion-dollar event: The Formula 1 Grand Prix!

Read more: Positive Outlooks for Las Vegas Living in 2023

According to the Las Vegas Review Journals’ A Positive Outlook – What’s Next”, we’re in the midst of an amazing ‘Roaring 20s Effect,’ where people are making up for months of lost experiences with a newfound gusto. Las Vegas is booming! Huge investments have been made – $40 billion going into major casino properties, billions more on entertainment venues that’ll offer 325K seats by 2023 and even airports getting updates to handle this boom. This means we can look forward to hosting huge stars like Adele or Taylor Swift alongside business events no other place can match… sure sounds like the party’s just starting 

From high-octane Formula 1 races zooming down the Las Vegas Strip, to jaw dropping performances from some of music’s biggest acts – it takes a lot for Sin City to host these world renowned events. We’re talking billions in hospitality investments and years of planning by leaders who know how to get things done! Add that with can-do elected officials, you have all the ingredients needed to bring electrifying experiences like Super Bowls and The National Finals Rodeo right into your backyard here!

It’s an unprecedented time of growth! With stimulus-backed spending, we are seeing massive investment in Vegas’ entertainment industry – billions pouring into its casinos, concert venues and convention spaces. The result? Las Vegas is soon set to outpace New York and LA as the global leader for major events. It really looks like 2021 will be a year of rebirth – rebounding from pandemic hardships with fresh energy and optimism!

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Haven Floor Plan at Prado, A BH Nexus Community (West Las Vegas, NV 89117)

In this video we’ll be walking the frame of the Haven floor plan offered by Blue Heron at the sister BH Nexus communities of Oasi located in East Las Vegas and Prado located in West Las Vegas.

The Haven offers a unique open entryway experience. The biophilic floor plan flows seamlessly through the great room to the private courtyard and to the detached casita creating a sacred sanctuary within your own backyard.  The dynamic informal floor plan provides optional pocket doors both at the entry and rear of the Home, making optimal spaces for entertainment. 

“The Haven offers spacious bedrooms, perfect for family and friends,” Blue Heron. 

The Haven’s unique U-Shaped blueprint creates a private wing for the expansive Primary Suite.  The opposing side of the courtyard consists of an engaging media room and entertainment space. 

“Although separate, both are joined via a rear courtyard that connects all areas into a central core,” Blue Heron. 

Key Home Features:  

Generational Suite 

Media Room 

Luxe Media Room 

Luxe Laundry 

Vegas Modern Powder Bath 

Vegas Modern Primary’s Suite Bath 

Prep Kitchen 

Outdoor Shower 

Garage Workshop

If you’re interested in a Blue Heron Home, click the link below for more info!

>>> Click Here <<<

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3 Things to Know About Life in Las Vegas, Nevada

Living in Las Vegas, Nevada is an experience like no other. From the bright lights of the Las Vegas Strip to the lush golf courses and outdoor attractions, there’s something for everyone in this vibrant city.

“Vegas is always a good idea!”

Unknown

With a variety of housing options ranging from high-rise condos to single-family homes, you can find a place that fits your lifestyle perfectly. Plus, with world-class dining and entertainment venues just steps away, it’s easy to see why Las Vegas is one of the most popular places to live in the United States. Whether you’re looking for a place to call home or just want to experience all that Las Vegas has to offer on vacation, living here will give you access to all its unique features and amenities that make it such an amazing destination.

Tax Benefits

Living in Las Vegas, Nevada can be a great way to save money on taxes. The city has no state income tax and low property taxes that make it an attractive option for those looking to minimize their tax burden. Additionally, Nevada’s sales tax is only 4.6%, which is well below the national average of 7%. Furthermore, there are certain deductions available for residents of Las Vegas that can further reduce your overall taxable income. With all these benefits taken into account, living in Las Vegas could provide significant savings when it comes time to file your taxes.

Las Vegas, NV Tax Rates

Property Tax: 0.5% – 0.75%

Sales Tax: .8.38%

Income tax: 0% – Nevada does not have a corporate income tax.

Live and love Las Vegas – it’s not just a party destination, but also an attractive place to call home. With some of the nation’s lowest property tax rates at only 0.5%-0.75%, home ownership in this sunny city offers great value that can’t be beat! On top of all that, homeowners are protected with maximum annual increases limited to 3%. There has never been a better time for discovering what living life in Sin City is really like!

Entertainment

Las Vegas, NV is known for its vibrant entertainment scene. From classic casinos to amazing shows and nightlife, the city has something for everyone. Whether you’re looking for thrilling rides or a relaxing spa day, Las Vegas can offer it all. In addition to these exciting attractions, Las Vegas also provides numerous benefits that make it one of the most sought-after destinations in the world. Here are just some of the ways that visiting Las Vegas can benefit you:

Destination Hot Spot

Las Vegas locals are some of the luckiest people in the world when it comes to travel opportunities. With its close proximity to California and Arizona, Las Vegas is perfectly positioned for easy access to a variety of vacation hot spots. In just a few hours’ drive, residents can find themselves in the heart of National Parks like Zion or Grand Canyon, as well as popular destinations like Los Angeles and San Diego. Not only that, but with several international airports nearby including McCarran International Airport (LAS) and Phoenix Sky Harbor International Airport (PHX), Las Vegas locals have even more options for traveling outside the state on any given weekend. So if you’re looking for an escape from Sin City without having to take too much time off work or school, look no further than your own backyard!

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5 TAX BENEFITS OF BUYING A HOME

Are you thinking of buying a home in Las Vegas, NV? You should know that there are several tax benefits associated with homeownership. From reducing your taxable income to claiming deductions for mortgage interest and property taxes, owning a home can help you save money on taxes. In this blog post, we’ll explore the various tax benefits of buying a home in Las Vegas, NV so that you can make an informed decision when it comes to purchasing your new home.

1. Mortgage Interest Deduction

Real estate investors can reap significant tax benefits from the Mortgage Interest Deduction (MID). This deduction allows taxpayers to deduct interest paid on mortgages taken out to purchase, construct or improve real property investments. The MID is a powerful tool for reducing taxable income and saving money on taxes, but there are some important rules that must be followed in order to take advantage of this benefit. Understanding how the MID works and what types of expenses qualify for deductions can help real estate investors maximize their tax savings.

Our should never complain, complaining is a weak emotion, you got life, we breathing, we blessed. Surround yourself with angels. They never said winning was easy. Some people can’t handle success, I can. Look at the sunset, life is amazing, life is beautiful, life is what A federal government initiated report conducted by the.

2. Property Tax Deduction

Real estate investors are often able to take advantage of certain tax benefits that can reduce their overall tax burden. One such benefit is the Property Tax Deduction, which allows real estate investors to deduct from their taxable income any property taxes they paid on investment properties during the year. This deduction can be a great way for real estate investors to lower their taxable income and save money on taxes each year. To maximize this benefit, it’s important for real estate investors to understand how the Property Tax Deduction works and what steps need to be taken in order to qualify for it.

3. Capital Gains Exclusion

Real estate investors who are looking for ways to minimize their tax burden can take advantage of the Capital Gains Exclusion. This exclusion allows investors to exclude a portion of their gains on the sale of real estate from taxation, allowing them to keep more of what they earn. The amount that can be excluded depends on several factors, such as the length of ownership and the purpose of purchase. By taking advantage of this exclusion, savvy investors can reduce their overall tax liabilities and increase their profits in real estate investments.

4. Energy-Efficient Home Improvement Tax Credit

The Energy-Efficient Home Improvement Tax Credit is a great way for real estate investors to reduce their tax burden. This credit enables investors to save money on the cost of energy efficient home improvements and renovations, with up to 10% of the cost being eligible for a tax credit. Not only does this mean that investors can improve their properties while decreasing their taxes, but they can also enjoy increased property values as well as reduced energy costs over time. Additionally, these credits are available for both new construction and existing homes, making them accessible to all kinds of real estate investments. With this in mind, it’s easy to see why taking advantage of the Energy-Efficient Home Improvement Tax Credit is an attractive option for smart real estate investors.

5. Shelter Income Tax Credit (SITC)

Real estate investors may be able to take advantage of the Shelter Income Tax Credit (SITC) when filing their taxes. This tax credit provides a variety of benefits for those who invest in residential rental property and is designed to encourage investment in low-income housing. The SITC can provide real estate investors with a significant reduction in their taxable income, making it an attractive option for many people looking to maximize their returns on investments. Additionally, the credits can be used as part of an overall strategy for reducing your total tax liability and staying within IRS guidelines. In this article, we’ll discuss how you can benefit from taking advantage of these credits when filing your taxes each year.

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