Are you thinking about buying a home soon? If so, you should know today’s market is competitive in many areas because the number of homes for sale is still low – and that’s leading to multiple-offer scenarios. And moving into the peak homebuying season this spring, this is only expected to ramp up more.
“Making an offer on a home without an agent is certainly possible, but having a pro by your side gives you a massive advantage in figuring out what to offer on a house.”
Agents are local market experts. They know what’s worked for other buyers in your area and what sellers may be looking for. That advice can be game changing when you’re deciding what offer to bring to the table.
2. Understand Your Budget
Knowing your numbers is even more important right now. The best way to understand your budget is to work with a lender so you can get pre-approved for a home loan. Doing so helps you be more financially confident and shows sellers you’re serious. That gives you a competitive edge. As Investopediasays:
“. . . sellers have an advantage because of intense buyer demand and a limited number of homes for sale; they may be less likely to consider offers without pre-approval letters.”
3. Make a Strong, but Fair Offer
It’s only natural to want the best deal you can get on a home, especially when affordability is tight. However, submitting an offer that’s too low does have some risks. You don’t want to make an offer that’ll be tossed out as soon as it’s received just to see if it sticks. As Realtor.comexplains:
“. . . an offer price that’s significantly lower than the listing price, is often rejected by sellers who feel insulted . . . Most listing agents try to get their sellers to at least enter negotiations with buyers, to counteroffer with a number a little closer to the list price. However, if a seller is offended by a buyer or isn’t taking the buyer seriously, there’s not much you, or the real estate agent, can do.”
The expertise your agent brings to this part of the process will help you stay competitive and find a price that’s fair to you and the seller.
4. Trust Your Agent During Negotiations
After you submit your offer, the seller may decide to counter it. When negotiating, it's smart to understand what matters to the seller. Once you do, being as flexible as you can on things like moving dates or the condition of the house can make your offer more attractive.
Your real estate agent is your partner in navigating these details. Trust them to lead you through negotiations and help you figure out the best plan. As an article from the National Association of Realtors (NAR) explains:
“There are many factors up for discussion in any real estate transaction—from price to repairs to possession date. A real estate professional who’s representing you will look at the transaction from your perspective, helping you negotiate a purchase agreement that meets your needs . . .”
Bottom Line
In today's competitive market, let’s work together to find you a home you love and craft a strong offer that stands out.
Why Today’s Seller’s Market Is Good for Your Bottom Line
Thinking about selling your house and wondering if now’s a good time to do it? Here’s what you need to know. Even though the number of homes for sale has been growing this year, there still aren’t enough homes on the market for all the buyers who want to buy.
So, what does that mean for you? To keep it simple, it means it’s still a seller’s market. Here’s how it works:
A neutral market is when supply and demand is balanced. Basically, there are enough homes to meet buyer demand based on the current sales pace, and home prices hold fairly steady.
A buyer’s market is when there are more homes for sale than there are buyers. When that happens, buyers have more negotiation power because sellers are willing to make compromises to close the deal. In a buyer’s market, sellers may have to do price cuts to re-ignite interest in their home, and prices may go down. But we haven’t seen this for years since there are so few homes available to buy.
In a seller’s market, it’s just the opposite. When the supply of homes for sale is as low as it is right now, it’s much harder for buyers to find homes to purchase. That creates increased competition among purchasers which can lead to more bidding wars. And if buyers know they may be entering a bidding war, they’re going to do their best to submit a very attractive offer upfront. This could drive the final sale price of your house up.
The graph below uses data from the National Association of Realtors to show just how deep into seller’s market territory we still are today:
What Does This Mean for You?
The market is still working in your favor. If you lean on an agent for advice on how to get your house list ready and how to price it competitively, it should get a lot of attention from eager buyers. That means you’ll likely get multiple offers and see your house sell quickly and for top dollar. As a recent article from Ramsey Solutionsexplains:
“A seller’s market is when demand for homes is higher than the supply of homes. And that’s still the case right now. If you’re planning to sell your house, you can expect to sell it fairly quickly for close to your asking price—as long as your asking price is realistic for the current market.”
Bottom Line
Today’s housing market still favors sellers. If you’re ready to sell your house, let’s connect so you can start making your moves.
Imagine waking up every morning to panoramic views of the stunning Summerlin neighborhood in Las Vegas, surrounded by luxury and opulence. A place where elegance and sophistication blend seamlessly with the vibrant energy of the city. This is the dream that can become a reality when you find your perfect luxury home in Summerlin.
As a professional real estate journalist, I have had the privilege of witnessing the allure and grandeur of Summerlin's luxury homes firsthand. From the moment you step foot into this remarkable neighborhood, you can't help but be captivated by its beauty and charm.
Whether you're searching for a contemporary masterpiece that embodies modern luxury or a classic estate with timeless elegance, Summerlin has a luxury home that will exceed your expectations. Here, you can indulge in the finest quality finishes, breathtaking architecture, and unparalleled amenities that are sure to elevate your lifestyle.
In this article, we will take a deep dive into the Summerlin real estate market, exploring its remarkable location, historical background, and development. We will also provide you with valuable insights and tips to help you navigate the market and find the luxury home of your dreams.
So, join me on this journey as we uncover the hidden gems of Summerlin's luxury homes in Las Vegas.
Key Takeaways:
Summerlin offers a wide range of luxury homes that exemplify elegance and opulence.
From contemporary masterpieces to classic estates, there is a luxury home in Summerlin to suit every taste.
Explore the allure of Summerlin's location, amenities, and its rich historical background.
Gain valuable insights and tips to navigate the Summerlin real estate market with success.
Discover why Summerlin is considered the pinnacle of luxury living in Las Vegas.
Discovering Summerlin: A Gem in Las Vegas
Summerlin is a master-planned community located approximately 15 miles west of the famous Las Vegas Strip. Nestled against the stunning Spring Mountains and Red Rock National Conservation Area, Summerlin offers residents a picturesque setting with breathtaking natural landscapes. The community spans over 22,500 acres and is divided into three associations: Summerlin North, Summerlin South, and Summerlin West.
The Allure of Summerlin's Location and Amenities
One of the main draws of living in Summerlin is its prime location in the Las Vegas Valley. Residents enjoy easy access to the excitement and entertainment of the Las Vegas Strip while being able to retreat to the tranquility of their luxury homes in Summerlin. The community is also surrounded by natural beauty, with the Spring Mountains and Red Rock National Conservation Area offering opportunities for outdoor recreation and exploration.
In addition to its stunning location, Summerlin boasts a wide range of amenities that cater to residents' every need. The community features numerous parks, schools, golf courses, and shopping centers, providing convenient access to essential services and recreational activities. Whether it's indulging in a round of golf or enjoying a leisurely stroll through one of the many parks, Summerlin offers an abundance of amenities to enhance residents' quality of life.
Historical Background and Development
The development of Summerlin can be traced back to the visionary efforts of Jean Amelia Summerlin and Howard Hughes. Jean Amelia Summerlin, the namesake of the community, was the wife of Howard Hughes' business partner, who played a significant role in the formation of the master-planned community. Howard Hughes himself recognized the potential of the Las Vegas Valley and acquired vast tracts of land, including the area that would become Summerlin.
Since its inception in the late 1980s, Summerlin has undergone continuous growth and development. The community has evolved into a thriving and sought-after destination, offering an unparalleled standard of living in Las Vegas. With its carefully planned neighborhoods, world-class amenities, and commitment to quality, Summerlin has solidified its reputation as one of the premier master-planned communities in the country.
Architectural Marvels: Summerlin's Luxury Home Designs
Summerlin, Las Vegas is renowned for its remarkable luxury home designs that epitomize exquisite craftsmanship and innovative architecture. Whether you prefer contemporary stunners with clean lines and sleek finishes or classic estates exuding timeless elegance, Summerlin offers a wide range of custom-designed homes to suit every taste.
The architectural styles in Summerlin are diverse and captivating. From modern masterpieces to Mediterranean-inspired villas and traditional residences, each design showcases luxurious amenities and features that enhance the overall living experience.
One of the standout features of Summerlin's luxury home designs is the incorporation of panoramic views. These homes are strategically positioned to offer residents breathtaking vistas of the surrounding natural landscapes, including majestic mountains and vibrant cityscapes.
Another notable aspect of Summerlin's luxury homes is the attention to detail and high-end finishes. From exquisite flooring and designer fixtures to state-of-the-art technology and custom millwork, every element is thoughtfully chosen to ensure a luxurious and sophisticated living environment.
Luxury amenities are also an integral part of Summerlin's architectural marvels. From expansive outdoor living spaces with resort-style swimming pools and outdoor kitchens to private theaters, wine cellars, and wellness retreats, every aspect of these homes has been carefully curated to provide residents with a truly exceptional living experience.
Architectural Styles
Features
Contemporary
Sleek lines, open concept floor plans, floor-to-ceiling windows
Classic
Timeless elegance, grand entrances, intricate detailing
Modern
Clean lines, minimalist design, integration of indoor and outdoor spaces
The luxury homes in Summerlin Las Vegas offer discerning buyers unparalleled elegance and sophistication. From gated communities to private retreats, Summerlin's luxury homes cater to those seeking the highest level of luxury living. With a wide range of architectural styles, sizes, and price points, there's a luxury home in Summerlin to suit every preference and budget.
Exclusive listings in emerging neighborhoods:
If you're looking for something truly unique and exclusive, Summerlin's emerging neighborhoods are worth exploring. These up-and-coming areas offer a fresh perspective on luxury living in Summerlin, with innovative designs and desirable amenities. Whether it's a modern masterpiece in The Cliffs or a custom-built gem in Stonebridge, these exclusive listings in emerging neighborhoods present exciting opportunities for buyers seeking a one-of-a-kind luxury home.
Recent market trends and estate statistics:
Keeping up with the latest market trends and estate statistics is crucial when searching for a luxury home in Summerlin. As the real estate market fluctuates, staying informed can help buyers make informed decisions and secure the best possible deal. From median sale prices to days on market, understanding the current state of the Summerlin real estate market will provide valuable insights into the luxury housing landscape. Take a closer look at the estate statistics, analyze the market trends, and gain a comprehensive understanding of the luxury real estate market in Summerlin Las Vegas.
Guard-Gated Communities: Security & Exclusivity
For those seeking the utmost security and exclusivity, Summerlin's guard-gated communities are the ideal choice. These prestigious neighborhoods offer residents peace of mind with access control and 24/7 security. In addition to enhanced security measures, residents of guard-gated communities also enjoy a host of private amenities, such as exclusive clubhouses, fitness centers, swimming pools, and recreational facilities. Living in a guard-gated community in Summerlin provides a sense of privacy, serenity, and exclusivity that is highly sought after.
Imagine coming home to a secure and private haven, knowing that your family and belongings are protected. Summerlin's guard-gated communities offer top-notch security systems that ensure the safety of residents. With access control measures in place, these communities provide a controlled and monitored environment, limiting unauthorized entry and maintaining a secure atmosphere.
"Summerlin offers a vast selection of homes and communities both gated, and guard-gated that offer an exceptional level of security and peace of mind."
- Heather Keays, Summerlin Realtor
In addition to security, guard-gated communities in Summerlin offer exclusivity and an elevated lifestyle. With meticulously maintained grounds, beautiful landscaping, and luxurious amenities, these communities provide residents with a sense of privilege and exclusivity. You can enjoy resort-style living right at home, with access to private clubhouses, fitness centers, pools, and recreational facilities.
Living in a guard-gated community in Summerlin is not just about security and exclusivity, but also about being part of a close-knit community. These neighborhoods foster a sense of camaraderie among residents through community events, social clubs, and shared spaces. It's a place where neighbors become friends, creating long-lasting connections and a strong sense of community.
Benefits of Guard-Gated Communities
Enhanced security with access control measures
24/7 security presence for peace of mind
A host of private amenities for residents
Elevated sense of exclusivity and prestige
Close-knit community and social connections
The Lifestyle of Summerlin: More Than Just a Home
Living in Summerlin is more than just owning a luxury home—it's embracing a lifestyle of luxury and leisure. The community offers a wide range of activities and amenities that cater to every interest and passion. From championship golf courses and country clubs to extensive trail systems and recreational parks, outdoor enthusiasts can indulge in their favorite activities.
Summerlin also boasts an array of community events, shopping centers, fine dining establishments, entertainment venues, and cultural activities that ensure residents always have something exciting to do. Whether you're attending concerts at the community amphitheater, exploring the diverse shopping options, or dining at world-class restaurants, Summerlin has it all.
The family-friendly atmosphere and numerous social clubs make it easy to connect with neighbors and forge lifelong friendships. From book clubs and wine tasting groups to sports teams and art classes, there are endless opportunities to engage with the community and create lasting memories.
Summerlin Real Estate: A Buyer's Guide
Navigating the Summerlin real estate market can be an overwhelming task, especially when it comes to buying a luxury home. This buyer's guide provides essential information and expert guidance to help buyers make informed decisions throughout the home-buying process. From relocation and negotiation to understanding the intricacies of the home-buying process, this guide is designed to empower buyers with the knowledge and resources they need to successfully navigate the Summerlin luxury real estate market.
Finding the Right Summerlin Realtor for Luxury Homes
When it comes to buying a luxury home in Summerlin, working with an experienced and knowledgeable realtor is crucial. The Keays Group is a team of Summerlin realtors with over 20 years experience who specialize in luxury homes and have an in-depth understanding of the local market, access to exclusive listings, and the expertise to guide buyers through the complex process of purchasing a high-end property.
When searching for a Summerlin realtor, it's important to consider the following factors:
Experience: We have a proven track record in selling luxury homes in Summerlin and extensive experience working with high-end buyers and sellers.
Market Knowledge: The Keays Group possesses a deep understanding of the local market, including current market trends, recent sales data, and emerging neighborhoods.
Professional Network: With our 20 years experience in Las Vegas real estate, we have built a team with an extensive network of industry professionals, including lenders, inspectors, and contractors, who can assist with the home-buying process.
Client Testimonials: Our relationship with the client and your satisfaction is our umber one goal. Read our client testimonials and reviews and see how our clients love working with The Keays Group.
By trusting our team with one of your most important financial decisions, you will receive expert guidance and support throughout your luxury home search and purchase.
Understanding the Home-Buying Process in Summerlin
The home-buying process in Summerlin follows a series of steps that buyers should be familiar with to ensure a smooth and successful transaction. Here is a general overview of the home-buying process in Summerlin:
Define Your Needs and Budget: Determine your housing priorities, such as the desired number of bedrooms, bathrooms, square footage, and amenities. Establish your budget and obtain pre-approval from a reputable lender.
Property Search: Work with our team to identify suitable luxury homes that meet your criteria. We utilize online listings, open houses, and private showings to explore different properties.
Offer Negotiations: Once you've found your dream home, our experienced negotiators will help you submit a competitive offer. Negotiations may occur between the buyer and seller until a mutually agreed-upon price is reached.
Inspection and Due Diligence: Conduct a thorough inspection of the property to identify any potential issues. During this period, complete any necessary due diligence, such as reviewing property disclosures and investigating the neighborhood.
Mortgage and Financing: Work with your lender to finalize your mortgage application and secure financing for the purchase. Provide any required documentation, such as proof of income and assets.
Closing Process: Our client customer service team will work with , your lender, and the seller's representative to complete the necessary paperwork and finalize the purchase. This includes the transfer of funds, signing the closing documents, and obtaining the keys to your new luxury home.
Understanding each step of the home-buying process will ensure that buyers are well-prepared and can navigate the Summerlin luxury real estate market with confidence.
Upscale Amenities for Discerning Homeowners
Summerlin, Las Vegas offers a range of upscale amenities designed to cater to the discerning tastes of its homeowners. From championship golf courses and prestigious country clubs to extensive trail systems and meticulously maintained parks, Summerlin provides residents with a luxurious lifestyle immersed in nature and recreation.
Championship Golf Courses and Country Clubs
For golf enthusiasts, Summerlin boasts championship-level golf courses that offer a challenging and scenic experience. These meticulously designed courses provide picturesque views of the surrounding landscape, creating a serene environment for golfers to enjoy. Additionally, the country clubs in Summerlin offer exclusive membership privileges and access to world-class amenities, including fine dining, fitness centers, and social events.
Recreation and Nature: Trails and Parks
With its commitment to outdoor living, Summerlin offers an extensive trail system that winds through the community, providing residents with numerous opportunities for hiking, biking, and leisurely walks. The trails also connect to nearby parks, allowing residents to enjoy picnics, outdoor sports, and family gatherings in meticulously maintained green spaces. The abundant parks in Summerlin provide a serene escape where families can bond, children can play, and nature can be enjoyed.
Experience the beauty of Summerlin's upscale amenities, whether it's a round of golf on a championship course, relaxing in a private country club, or exploring the trails and parks that connect residents with the natural splendor of the community.
Summerlin's Luxury Market: Analyzing Price Points and Investment Potential
Analyzing price points and investment potential is essential when considering luxury real estate in Summerlin. Understanding the current state of the luxury market, price trends, and investment potential can help buyers make informed decisions and maximize their return on investment. This section of the article will delve into the details of the Summerlin luxury market, providing insights into price points, market trends, and the potential for long-term growth and profitability.
"The Summerlin luxury market offers discerning buyers an opportunity to invest in high-end properties with significant investment potential. By analyzing price points and market trends, buyers can identify prime investment opportunities and make informed decisions."
- Real Estate Expert
When it comes to the Summerlin luxury market, price points vary depending on factors such as location, size, amenities, and architectural design. High-end properties in sought-after neighborhoods command premium prices, reflecting the exclusivity and prestige associated with luxury living in Summerlin.
Market trends in the Summerlin luxury market indicate a consistent demand for high-end properties, driven by affluent buyers seeking upscale amenities, ideal locations, and luxurious living spaces. The market has shown stability and resilience, even during times of economic uncertainty.
Investing in luxury real estate in Summerlin can provide excellent long-term growth and profitability. The area's desirability, coupled with the potential for increasing property values, makes it a lucrative investment opportunity. Buyers can also benefit from rental income, as Summerlin's luxury properties are in high demand from individuals who prefer to lease rather than purchase.
Understanding the return on investment (ROI) potential is crucial when considering the purchase of a luxury property in Summerlin. By analyzing historical data, market trends, and the potential for rental income, buyers can make informed decisions that align with their investment goals.
To visualize the price points and investment potential in the Summerlin luxury market, refer to the table below:
Price Range
Property Type
Location
Investment Potential
$1,000,000 - $2,000,000
Single-family homes
Exclusive gated communities
High potential for appreciation
$2,000,000 - $5,000,000
Estate homes
Prestigious golf course communities
Strong demand and potential for rental income
Above $5,000,000
Mansion estates
Panoramic view locations
Potential for high ROI and exclusive lifestyle
Investing in luxury real estate requires careful consideration and expert guidance. Buyers should consult with a knowledgeable Summerlin realtor who specializes in the luxury market to ensure they receive personalized advice and access to exclusive listings.
By analyzing price points, market trends, and investment potential, buyers can make informed decisions and secure their slice of luxury in Summerlin.
Summerlin's Best-Selling Villages and Why They Stand Out
Summerlin is known for its exceptional real estate offerings, and within this vibrant community, several villages have emerged as best-sellers. These villages possess unique attributes that attract buyers, from coveted amenities to prime locations and strong demand.
One of the standout features of these best-selling villages is their diverse range of housing styles. Whether you prefer a modern, contemporary design or a classic, timeless aesthetic, Summerlin has something for everyone. The villages offer a variety of architectural options, including Mediterranean-inspired villas, sleek and minimalist contemporary homes, and elegant traditional estates.
In addition to housing styles, the villages in Summerlin boast an impressive array of amenities. From tranquil parks and community pools to world-class golf courses and top-notch schools, residents have access to a wealth of recreational and educational opportunities.
Location is a major factor in the success of these villages. Situated in desirable areas of Summerlin, these communities offer proximity to shopping centers, entertainment venues, dining establishments, and outdoor recreational spaces. The convenient access to popular attractions and essential amenities further adds to the allure of these best-selling villages.
Summerlin's best-selling villages have built a strong reputation for themselves within the real estate market. The high demand for homes in these communities reflects their desirability and the exceptional lifestyle they offer residents.
Overall, the combination of exceptional housing styles, desirable amenities, prime locations, and strong demand has propelled these villages to become best-sellers in Summerlin. Whether you're looking for a family-friendly neighborhood or an exclusive enclave, these villages stand out among the rest.
Education and Culture: Raising a Family in Summerlin
Summerlin is known for being an ideal community for families, offering a wide range of educational and cultural opportunities. With its welcoming atmosphere and family-friendly amenities, Summerlin is the perfect place to raise a family in Las Vegas. From top-rated schools to a vibrant arts scene, there's something for everyone in this thriving community.
Top-Rated Schools and Educational Opportunities
Summerlin is home to some of the top-rated schools in the Las Vegas area. These schools provide excellent academic programs that prioritize the education and well-being of their students. With a focus on innovation, critical thinking, and personal growth, these schools prepare students for success in college and beyond.
Along with the exceptional academic programs, Summerlin offers a variety of educational opportunities for students of all ages. From preschools and elementary schools to middle schools and high schools, there are a plethora of options to choose from. Parents can rest assured knowing that their children are receiving an excellent education in a safe and nurturing environment.
Furthermore, Summerlin's educational opportunities extend beyond the traditional classroom setting. The community offers various extracurricular activities, such as sports teams, arts programs, and STEM clubs, allowing students to explore their interests and develop valuable skills outside of the traditional curriculum.
Cultural Events and Community Engagement
Summerlin prides itself on its vibrant cultural scene and community engagement. Residents have access to a wide range of cultural events, including art exhibitions, music festivals, theater performances, and more. These events not only provide entertainment but also enrich the community with diverse cultural experiences.
Community engagement is an integral part of life in Summerlin. The neighborhood hosts numerous events and activities throughout the year, fostering a sense of belonging and unity among residents. From charity fundraisers to neighborhood clean-up initiatives, there are plenty of opportunities for community members to come together and make a positive impact.
By actively participating in cultural events and community engagement, families in Summerlin can forge meaningful connections and contribute to the overall well-being of the community. This sense of unity and involvement helps create a supportive and nurturing environment for families to thrive.
Benefits of Education and Culture in Summerlin
Examples
Enhanced learning experiences
STEM workshops, art classes, and music lessons
Exposure to diverse cultures
International food festivals, cultural performances, and art exhibitions
Opportunities for personal growth
Leadership programs, volunteering, and community service
Development of social skills
Participation in school clubs, sports teams, and community events
Building a strong sense of community
Neighborhood clean-ups, charity fundraisers, and community celebrations
Education and culture are key pillars of the Summerlin community, providing families with enriching experiences and a supportive environment. Whether it's through top-rated schools or engaging cultural events, Summerlin offers an unparalleled opportunity for families to thrive and grow together.
Summerlin's Climatic Appeal: A Place for All Seasons
The climate of Summerlin makes it a desirable place for outdoor enthusiasts and those seeking a year-round active lifestyle. With its mild winters, warm springs and falls, and hot summers, Summerlin offers a perfect balance for enjoying a variety of outdoor activities throughout the seasons.
From hiking and biking in the spring to golfing and swimming in the summer, there's always something to do in Summerlin, regardless of the time of year.
Whether you're looking to explore the breathtaking natural landscapes, soak up the sun by the pool, or engage in exhilarating recreational pursuits, Summerlin's climate provides the ideal backdrop for an active and fulfilling lifestyle. The moderate temperatures and abundant sunshine make it conducive to outdoor activities year-round.
During the mild winters, residents can take advantage of the pleasant weather to go hiking in the nearby Spring Mountains or explore the Red Rock National Conservation Area. Spring and fall offer comfortable temperatures for outdoor sports like tennis, volleyball, or basketball in one of the many parks and recreational facilities.
In the summertime, when temperatures rise, residents can cool off by taking a dip in one of the luxurious swimming pools or enjoying water sports at Lake Mead, just a short drive away. Golf enthusiasts can hit the links on one of Summerlin's championship golf courses, surrounded by stunning vistas.
Regardless of the season or your preferred outdoor activity, Summerlin's climate ensures that there's never a dull moment. Embrace an active lifestyle and make the most of all that this vibrant community has to offer.
Conclusion
After exploring the stunning neighborhood of Summerlin in Las Vegas, it is evident that this community is the epitome of luxury living. The exquisite homes, upscale amenities, and vibrant community make Summerlin a premier destination for those seeking an unparalleled lifestyle.
For readers interested in securing a luxury home in Summerlin, expert insights and tips will prove invaluable in navigating the buying process and finding their dream home. These insights will provide guidance on important considerations and help buyers make informed decisions.
Summerlin stands out as the pinnacle of luxury living in Las Vegas due to various factors. The community’s desirable location, breathtaking natural landscapes, and meticulously designed homes create an environment of exclusivity and sophistication. The range of amenities, including parks, schools, golf courses, entertainment, and shopping centers, further enhance the luxury living experience in Summerlin.
FAQ
How do I contact you regarding luxury homes in Summerlin Las Vegas?
To find luxury homes in Summerlin Las Vegas, you can call or email us at 702-741-1515 / heatherk@bestoflvhomes.com or visit us at our website www.bestoflvhomes.com
What makes Summerlin a desirable location for luxury living?
Summerlin offers a picturesque setting with breathtaking natural landscapes, including the Spring Mountains and Red Rock National Conservation Area. The community has an array of upscale amenities, such as parks, schools, golf courses, entertainment venues, shopping centers, and fine dining establishments, making it an ideal location for luxury living.
What types of architectural designs can I expect in Summerlin's luxury homes?
Summerlin's luxury homes showcase a diverse range of architectural styles, including contemporary, classic, modern, and Mediterranean designs. These homes feature high-end finishes, panoramic views, luxurious amenities, and state-of-the-art technology, providing a truly exceptional living experience.
Are there guard-gated communities available in Summerlin for added security and exclusivity?
Yes, Summerlin has several guard-gated communities that offer enhanced security measures and 24/7 security. These prestigious neighborhoods provide access control and private amenities, ensuring a sense of privacy, serenity, and exclusivity for their residents.
What recreational and leisure activities are available in Summerlin?
Summerlin offers a wide range of outdoor activities for residents to enjoy, including championship golf courses, country clubs, extensive trail systems, and meticulously maintained parks. The community also hosts various community events, cultural activities, and social clubs, providing ample opportunities for recreation, leisure, and socialization.
How can I navigate the Summerlin real estate market to find a luxury home that fits my needs and budget?
Our skilled team has extensive knowledge of the Summerlin real estate market . We can provide expert guidance and help you make informed decisions throughout the home-buying process.
Going into 2023, there was a lot of talk about a possible recession that would cause the housing market to crash. Some in the media were even forecasting home prices would drop by as much as 10-20%—and that might have made you feel a bit unsure about buying a home.
But here’s what actually happened: home prices went up more than usual. Brian D. Luke, Head of Commodities at S&P Dow Jones Indices, explains:
“Looking back at the year, 2023 appears to have exceeded average annual home price gains over the past 35 years.”
To put last year’s growth into context, the graph below uses data from Freddie Mac on how home prices have changed each year going back to 1980. The dotted line shows the long-term average for appreciation:
“. . . the U.S. real estate market has a long and reliable history of increasing in value over time.”
In fact, since 1980, the only time home prices dropped was during the housing market crash (shown in red in the graph above). Fortunately, the market today isn’t like it was in 2008. For starters, there aren’t enough available homes to meet buyer demand right now. On top of that, homeowners have a tremendous amount of equity, so they’re on much stronger footing than they were back then. That means there won’t be a wave of foreclosures that causes prices to fall.
The fact that home values went up every single year except those four in red is why owning a home can be one of the smartest moves you can make. When you’re a homeowner, you own something that typically becomes more valuable over time. And as your home’s value appreciates, your net worth grows.
So, if you’re financially stable and prepared for the costs and expenses of homeownership, buying a home might make a lot of sense for you.
Bottom Line
Home prices almost always go up over time. That makes buying a home a smart move, if you’re ready and able. Let’s connect to talk about your goals and what’s available in our area.
If you’ve been thinking about buying a home, mortgage rates are probably top of mind for you. They may even be why you’ve put your plans on hold for now. When rates climbed near 8% last year, some buyers found the numbers just didn’t make sense for their budget anymore. That may be the case for you too.
Data from Bright MLS shows the top reason buyers delayed their plans to move is due to high mortgage rates (see graph below):
David Childers, CEO at Keeping Current Matters, speaks to this statistic in the recent How’s The Market podcast:
“Three quarters of buyers said ‘we’re out’ due to mortgage rates. Here’s what I know going forward. That will change in 2024.”
That’s because mortgage rates have come down off their peak last October. And while there’s still day-to-day volatility in rates, the longer-term projections show rates should continue to drop this year, as long as inflation gets under control. Experts even say we could see rates below 6% by the end of 2024. And that threshold would be a gamechanger for a lot of buyers. As a recent article from Realtor.comsays:
“Buying a home is still desired and sought after, but many people are looking for mortgage rates to come down in order to achieve it. Four out of 10 Americans looking to buy a home in the next 12 months would consider it possible if rates drop below 6%.”
While mortgage rates are nearly impossible to forecast, the optimism from the experts should give you insight into what’s ahead. If your plans were delayed, there’s light at the end of the tunnel again. That means it may be time to start thinking about your move. The best question you can ask yourself right now, is this:
What number do I want to see rates hit before I’m ready to move?
The exact percentage where you feel comfortable kicking off your search again is personal. Maybe it’s 6.5%. Maybe it’s 6.25%. Or maybe it’s once they drop below 6%.
Once you have that number in mind, here’s what you do. Connect with a local real estate professional. They’ll help you stay informed on what’s happening. And when rates hit your target, they’ll be the first to let you know.
Bottom Line
If you’ve put your plans to move on hold because of where mortgage rates are, think about the number you want to see rates hit that would make you ready to re-enter the market.
Once you have that number in mind, let’s connect so you have someone on your side to let you know when we get there.
If you’re trying to buy a home and are having a hard time finding one you can afford, it may be time to consider a fixer-upper. That’s a house that needs a little elbow grease or some updates, but has good bones. Fixer-uppers can be a really great option if you’re looking to break into the housing market or want to stretch your budget further. According to NerdWallet:
“Buying a fixer-upper can provide a path to homeownership for first-time home buyers or a way for repeat buyers to afford a larger home or a better neighborhood. With the relatively low inventory of homes for sale these days, a move-in ready home can be hard to find, especially if you’re on a budget.”
Basically, since the number of homes for sale is still so low, if you’re only willing to tour homes that have all your dream features, you may be cutting down your options too much and making it harder on yourself than necessary. It may be time to cast a wider net.
Sometimes the perfect home is the one you perfect after buying it.
Here’s some information that can help you pinpoint what you truly need so you can be strategic in your home search. First, make a list of all the features you want in a home. From there, work to break those features into categories like this:
Must-Haves - If a house doesn’t have these features, it won’t work for you and your lifestyle.
Nice-To-Haves - These are features you’d love to have but can live without. Nice-to-haves aren’t dealbreakers, but if you find a home that hits all the must-haves and some of these, it’s a contender.
Dream State - This is where you can really think big. Again, these aren’t features you’ll need, but if you find a home in your budget that has all the must-haves, most of the nice-to-haves, and any of these, it’s a clear winner.
Once you’ve sorted your list in a way that works for you, share it with your real estate agent. They’ll help you find homes that deliver on your top needs right now and have the potential to be your dream home with a little bit of sweat equity. Lean on their expertise as you think through what’s possible, what features are easy to change or add, and how to make it happen. According to Progressive:
“Many real estate agents specialize in finding fixer-uppers and have a network of inspectors, contractors, electricians, and the like.”
Your agent can also offer advice on which upgrades and renovations will set you up to get the greatest return on your investment if you ever decide to sell down the line.
Bottom Line
If you haven’t found a home you love that’s in your budget, it may be worth thinking through all your options, including fixer-uppers. Sometimes the perfect home for you is the one you perfect after buying it. To see what’s available in our area, let’s connect.
Thanks to an uptick in inventory over last year, you’ve got more options for your next home. But there are still fewer homes for sale than there’d normally be, meaning your house should stand out and get a lot of attention from buyers.
If you’re taking a look at your expenses as you retire, saving money where you can has a lot of appeal. One long-standing, popular way to do that is by downsizing to a smaller home.
When you think about cutting down on your spending, odds are you think of frequent purchases, like groceries and other goods. But when you downsize your house, you often end up downsizing the bills that come with it, like your mortgage payment, energy costs, and maintenance requirements. Realtor.comshares:
“A smaller home typically means lower bills and less upkeep. Then there’s the potential windfall that comes from selling your larger home and buying something smaller.”
That windfall is thanks to your home equity. If you’ve been in your house for a while, odds are you’ve built up a considerable amount of equity. And that equity is something you can use to help you buy a home that better fits your needs today. Daniel Hunt, CFA at Morgan Stanley, explains:
“Home equity can be a significant source of wealth for retirees, often representing a large portion of their net worth. . . . Retirement planning can be complex, but your home equity shouldn't be overlooked.”
And when you’re ready to use that equity to fuel your next move, your real estate agent will be your guide through every step of the process. That includes setting the right price for your current house when you sell, finding the home that best fits your evolving needs, and understanding what you can afford at today’s mortgage rate.
What This Means for You
If you’re thinking about downsizing, ask yourself these questions:
Do the original reasons I bought my current house still stand, or have my needs changed since then?
Do I really need and want the space I have right now, or could somewhere smaller be a better fit?
What are my housing expenses right now, and how much do I want to try to save by downsizing?
Then, meet with a real estate agent to get an answer to this one: What are my options in the market right now? A local real estate agent can walk you through how much equity you have in your house and how it positions you to win when you downsize.
Bottom Line
Want to save money in retirement? Consider downsizing – it could really help you out. When you’re ready, let’s connect about your goals in the housing market this year.
Why Access Is So Important When Selling Your House
If you’re gearing up to sell your house this spring, one of the early conversations you’ll have with your agent is about how much access you want to give buyers. And you may not realize just how important it is to make your house easy to tour.
Spring is the peak homebuying season, so opening up your house to as many showings as possible can really help you capitalize on all the extra buyer activity we see at this time of year.
Since buyer competition ramps up in the spring, buyers are going to want to move fast to see your house once they find your listing. And, if they see it and fall in love with it at a time they know they’re competing with other buyers, you may be more likely to get the offer you’re looking for on your home.
It’s understandable you want to keep the disruptions to your own schedule to a minimum, and you may be stressed about having to keep it clean, but it’s worth it. As an article from Investopediaexplains:
“If someone wants to view your house, you need to accommodate them, even if it inconveniences you. Clean and tidy the house before every single visit. A buyer won’t know or care if your house was clean last week. It’s a lot of work, but stay focused on the prize.”
To figure out what’s best for you, your agent will walk you through options like the ones below. This list breaks things down, starting with what’s most convenient for buyers and getting less buyer-focused as the list goes on:
Lockbox on the Door – A key is available via a lockbox, which makes it easy for agents to show the home to potential buyers. This gives the most flexibility because the key is on-site and convenient.
Providing a Key to the Home – An agent would have to stop by an office to pick up the key with this option. This is still pretty convenient for showings, but not quite as simple.
Open Access with a Phone Call – You allow a showing with just a phone call’s notice, which can be great for someone who sees your house while driving by.
By Appointment Only – This gives you a more advanced warning so you can get the house tidied up and be sure you have somewhere else you can go in the meantime. But it’s also a bit more restrictive.
Limited Access – You might go this route if you only want to have your house available on specific days or at certain times of day. But realize this is the most difficult and least flexible of the choices.
“Buyers like to see homes on their schedule, which often means evenings and weekends. Plus, they want to be able to tour a home soon after they find it online, especially if they're competing with other buyers.If your home can be shown with little or no notice, more prospective buyers will see it. If you require 24 hours’ notice, they may choose to skip your home altogether.”
Your agent is going to help you find the right path forward based on your schedule and what’s working for other sellers in your area. And if you’ve got a hardline on granting buyers more access or have interested out of town buyers that just can’t be there in person, your agent will get creative and help you explore other options like video tours, virtual showings, and more.
Bottom Line
When it comes to selling your house, you want to be sure to get as much buyer activity as you can. Let’s connect to talk about which level of access helps make that possible.