Real Estate Briefs
Downtown Summerlin gears up for Spring Festival
Downtown Summerlin has announced a year-two partnership with St. Jude Children’s Research Hospital to unveil its 2016 “Celebration of Life” sculptures and kick-off spring with the arrival of the Easter Bunny and Spring Festival to be held at noon today.
The not-to-be-missed community event includes kid-centric activities, such as a petting zoo, a spring-themed social media photo backdrop, relay games, flower crown making, umbrella painting, hop scotch, cookie decorating and music.
The “Celebration of Life” exhibit features a collection of 10 three-dimensional, 5-foot sculptures created by Summerlin-based artist Dorit Schwartz. Each sculpture is painted by a variety of artists including Michael Godard, Vladimir Kush and Alexander Nechita. The artists portray a “celebration of life” based on their personal experiences. Several of the artists have personal connections to St. Jude Children’s Research Hospital. Once the sculptures are unveiled, many will serve as permanent fixtures at Downtown Summerlin.
Local children also will have the chance to share words of inspiration and well-being for the children of St. Jude by leaving a message on the St. Jude Wishing Wall. Children can stop by the St. Jude table at the event to write their message to the 7800-plus children being treated at St. Jude each year. St. Jude is working to drive the overall survival rate for childhood cancer to 90 percent.
The event is free and open to the public. Paid photo packages with the Easter Bunny will also be available for purchase through March 26. For a complete list of details, visit www.downtownsummerlin.com.
GLVAR reports housing prices up
The Greater Las Vegas Association of Realtors reported the local housing market weathered the traditionally slow winter months with steadily rising home prices and sales and appears poised for a solid spring sales season.
GLVAR reported the median price of existing single-family homes sold in Southern Nevada during February through its Multiple Listing Service was $220,350, up 7.5 percent from $205,000 one year ago.
Meanwhile, GLVAR said the median price of local condominiums and townhomes, including high-rise condos, sold in February was $121,500. That’s up 15.7 percent from $105,000 one year ago.
“Considering that we just made it through what is traditionally our slowest time of the year in the local housing market, I’d have to say that we’re in pretty good shape,” said 2016 GLVAR President Scott Beaudry. “Our home prices and home sales tend to warm up with the weather, so I think we’re well-positioned to have a solid spring and summer. Unless something dramatic happens, I expect our recent trends of steadily rising prices and sales to continue this year.”
According to GLVAR, the total number of existing local homes, condominiums and townhomes sold in February was 2,676, up from 2,452 in February of 2015. Compared to the same month one year ago, 7.5 percent more homes and 15.8 percent more condos and townhomes sold in February.
For 2015, GLVAR reported a total of 38,578 single-family home, condominium, townhome and high-rise condo sales. That was more than in 2014, but fewer sales than during the previous five years.
Beaudry said the local housing supply remained tight, with less than a four-month supply of homes available for sale, when a six-month supply is considered a more balanced market. The total number of single-family homes listed for sale on GLVAR’s MLS in February was 12,994, down 1.5 percent from one year ago. GLVAR tracked a total of 3,481 condos, high-rise condos and townhomes listed for sale on its MLS in February, down 2.2 percent from one year ago.
GLVAR continued to report annual declines in distressed sales and increasing numbers of traditional home sales, where lenders are not controlling the transaction. In February, 6.6 percent of all local sales were short sales — when lenders allow borrowers to sell a home for less than what they owe on the mortgage. That’s down from 9.3 percent of all sales one year ago. Another 8.6 percent of all February sales were bank-owned, down from 9.7 percent one year ago.
These GLVAR statistics include activity through the end of February 2016. GLVAR distributes such statistics each month based on data collected through its MLS, which does not necessarily account for newly constructed homes sold by local builders or for sale by owners.
Nevada Realtors attend leadership classes
Top Realtors from throughout Nevada are helping others while helping themselves improve their leadership skills as part of the LeadershipNVAR program run by the statewide Nevada Association of Realtors.
LeadershipNVAR’s Class of 2016 kicked off its yearlong program by meeting Feb. 23-25 in Scottsdale, Ariz. The 15-member class of NVAR members from all parts of Nevada made the Hyatt House in Scottsdale its home for three days of activities to promote leadership and growth.
While attending courses and networking, the group of leading Nevada Realtors volunteered at the Society of St. Vincent de Paul, a local shelter. They also organized a yearlong community service project, which will be to promote a fundraising effort aimed at benefiting Boys and Girls Clubs in the Silver State.
The 2016 LeadershipNVAR class includes Brenda Aucutt, Diana Barnes, Jaren Gilbert, Tara Gonzalez, Randi Hatada, Sheri Holthaus, Gail Krolick, Debbie Logan, Andrew Lunsford, Kaci Lynch, Michael Anthony Marrone, Doug McIntyre, Alex Mejia, Stephen Smith and Glen Wilde. They hail from Elko and Spring Creek to Gardnerville, and from Reno to Las Vegas.
“This is a phenomenal leadership group,” said Tiffany Banks, NVAR’s staff liaison to the program, following their meetings in Arizona. “They were open-minded and quick to engage. They want to learn and lead. There was just a really good flow to the program for all three days.”
Banks stressed the goal of the program NVAR established several years ago to train the next generation of leaders in the association and in the state is to get participants to learn about themselves so they can become better leaders in all facets of their lives. The emphasis is on teamwork, community and self-awareness.
The Nevada Association of Realtors is a professional trade association with more than 15,000 members. Visit www.NVAR.org.
CALV to host May 18 mixer
Commercial Alliance Las Vegas plans to host its annual spring networking mixer for local commercial real estate professionals May 18, from 5:30 to 7:30 p.m. at the Cili Restaurant at the Bali Hai Golf Club, 5160 Las Vegas Blvd. South.
Event sponsors and partners include the local chapters of the Appraisal Institute, Building Owners and Managers Association, Certified Commercial Investment Member, Commercial Marketing Group, Commercial Real Estate Women, Institute of Real Estate Management, National Association of Industrial and Office Properties, Nevada Business Brokers Association and Society of Industrial and Office Realtors.
Admission is $25 for members of CALV and the Greater Las Vegas Association of Realtors, as well as for members of the other commercial real estate organizations supporting the event. Admission is $35 for non-members. Call 702-784-5050 to register for the event.
The Commercial Alliance Las Vegas is the commercial real estate division of the Greater Las Vegas Association of Realtors. It organizes and empowers the industry in Southern Nevada through education, networking, promoting professionalism and shaping public policy. For more information, visit www.calv.org.
