Top Five Real Estate Bargains

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With so many properties falling into foreclosure, real estate prices have dropped significantly in the Las Vegas real estate market. Homes that sold for $600,000 just a couple of years ago are now selling for $250,000. Not every home listed is a bargain, though. Many homes that have been foreclosed on have been damaged by the former owner or have been neglected. With so many properties flooding the market, normal resales are having to compete for buyers against short sales and foreclosures, causing home prices to fall. Bad news for home sellers but great news if you are buying a home.

Below I've put together my picks for the absolute best places to buy property in the Las Vegas valley. The criteria is based on past price, location, community amenities and of course, the actual homes themselves. Here are the top five:

  • Palm Gardens - this little secluded community is located on E Tropicana Avenue, just minutes from Henderson. The community has been meticulously maintained, has its own park with tennis courts, a roving security patrol and a guard gate entrance. The HOA fees are only $75 a month. Home lots are large enough to put in a pool with room to spare and the average home size is about 2,000 square feet.
  • Encore - this is an older neighborhood located just off of E Tropicana and Sandhill. The community features single and two story homes on large lots.
  • Aliante - if you want a home on the golf course at rock bottom prices, this is the community for you. Great amenities and some of the best deals available in the Las Vegas valley. There are brand new homes still available.
  • Seven Hills - probably the most gorgeous community in Green Valley. There are gated and non-gated communities to choose from, many with views of the beautiful Rio Secco golf course. Prices are nowhere near what they were just two years ago.
  • Madeira Canyon - this community got caught in the housing bubble. There are several homes that have fallen out of escrow and Pulte is motivated to sell them. The community has great amenities and views of the valley.

If you are looking to buy a home in Las Vegas or would like to receive listings from any of these communities, call me at 702-493-8033. Thanks for stopping by.

Comments

Reselling

Of course, it might be beneficial for someone with money to purchase cheaper houses now and resell them when the market got better.

Top Five Real Estate Bargains

Home prices sure have dropped, but as you mentioned, they're not always a bargain. A friend just told me about his home here in the valley (the real valley in AZ :) ) that was completely destroyed by renters he evicted, it reminded me of the horrid stories I hear about some foreclosures. Foreclosures might be discounted, but you never what upset owners did before leaving the home so it's always a good idea to get the home thoroughly inspected before making a purchase decision.

Thanks for the list of Bargain communities - I've never seen a security patrolled community with HOA fees as low as $75.

Jayson

New Homes Section

HOA

Even if the HOA fees were higher, Palm Gardens still would have made the list. Its one of the best maintained communities I've ever seen, including some of the more "luxury communities" in Las Vegas. The security staff is great, not only watchful but friendly and helpful. While we were doing a walk through with a client, a neighbor's dog got loose and was running in the street. I went to help catch it and the bicycle guard jumped righ and helped us corral him. LIttle things like that make a huge difference.

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