Rob's Report - August 2021

ROB'S REPORT

SUMMERLIN, L AS VEGAS, & HENDERSON AUGUST 2021

#5Rockstream

5 ROCKSTREAM DRIVE ASCAYA | $13,995,000

6,539 Square Feet | 5 Bedrooms | 6 Bathrooms | Custom Two-Story

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Trophy property with the best views in all of Las Vegas! Unobstructed, panoramic, dead-center views of the Las Vegas Valley and Strip await at this custom two-story mansion in Ascaya—a 24hour guard gated architectural paradise and ultra-luxury community poised atop a monument of spiraling stone in Henderson, Nevada. Perched on a ridge 90’ above the homes below, this contemporary estate showcases unparalleled privacy and breathtaking Strip, city, and mountain views from every room. Amenities include a 70’ infinity-edge swimming pool, a relaxing in-pool jacuzzi, garage space for six cars, a 31-panel solar power system, and a plethora of smart home capabilities—but that’s just the beginning.

Hello Friends, Here are some interesting facts about the current market conditions. Guard gated inventory is down 38.5% over last July, which continues to set the stage for a highly competitive market.

Pending sales are down 19.2% over last month and 20.6% over last year. However, this slowdown is not a sign that the market is turning soft. If you look at the Absorption Rate chart, which is a measure of our current supply of inventory, you'll still see very low single digit numbers. This means that the supply/ demand ratio is steady. I continue to expect a lower number of transactions for the time being and pricing to continue to remain stable.

5 ROCKSTREAM DRIVE | ASCAYA

In order to provide additional insight, I spoke with BDO Tax Office Managing Partner, Scott Taylor. “There have been numerous announcements that the Biden tax increase could be retroactive to the beginning of 2021,” he said. “However, many CPAs believe there is no possibility of retroactive tax increases. Taxpayers should be prepared to make quick tax and business decisions if the Biden proposal gets passed with expected provisions.”

Mr. Taylor added, “It is likely that some form of estate taxes may be altered, and it is almost guaranteed that income tax rates for over $1,000,000 will be subject to the highest marginal tax rates of 39.6%. The best advice is to keep your ears and eyes ready and discuss your specific tax circumstances with your professional advisors.”

Estate Planning & Asset Protection Attorney Steven J. Oshins, Esq., AEP (Distinguished) had this to add: “The 2018 tax act limited the federal State and Local Tax Deduction to $10,000 which caused a mass exodus from high state income tax states and contributed to the growth in states like Nevada.” He also noted that “Nevada is the #1 state for Domestic Asset Protection Trusts because Nevada has a short two-year statute of limitations for future creditors to be able to sue the trust, as well as having no exception creditors who can access the trust assets, which is very unique.”

Regardless of how this plays out, we continue to invest heavily in marketing that gets our listings sold. In just the last month, we committed over $100,000 with Modern Luxury publications to expand our print and digital marketing reach in California and in new Sony FX6 video equipment for our luxury property video tours.

If you’re interested in a luxury real estate company that invests substantially in the successful sale of your home, please give us a call at 702.605.7480.

Sincerely, Rob Jensen Broker / President 702.605.7480 B.143770

FOR THE MONTH OF APRIL 2017 | GUARD GATED SOLD PROPERTIES FOR THE MONTH OF JULY 2021 COMMUNITY

SF

PRICE

P/SF

COMMUNITY

ADDRESS

SF

PRICE

P/SF

10141 Summit Canyon Drive

4,782 $1,600,000

$335

8745 Double Eagle Drive

3,652 $850,000

$233

Canyon Fairways

405 Royalton Drive

7,056 $2,575,000

$365

2209 Glenbrook Way

3,319 $1,220,000

$368

1817 Corta Bella Drive

3,946 $1,010,000

$256

1816 Dolce Drive

3,510 $850,000

$242

8800 Quadro Court

4,034 $1,085,000

$269

Eagle Hills Eagle Rock Mountain Trails The Palisades

Red Rock Country Club

Reverence

The Ridges

The Summit Tournament Hills Willow Creek

9840 Cantebury Rose Lane

3,573 $825,000

$231

9717 Heirloom Court

3,446 $825,000

$239

9220 Golden Eagle Drive (REO) 5,641 $1,245,000

$221

2036 Grouse Street

3,578 $1,575,000

$440

413 Pinnacle Heights Lane

3,556 $1,175,000

$330

521 Pinnacle Heights Lane

4,078 $1,180,000

$289

2316 Pearl Crest Street

8,096 $3,000,000

$371

212 Royal Ascot Drive

4,703 $1,660,899

$353

10204 Stone Briar Court

4,586 $1,399,000

$305

1966 Country Cove Court

4,107 $1,375,000

$335

2845 Evening Rock Street

3,147 $1,550,000

$493

11272 Golden Chestnut Place

4,443 $1,675,000

$377

2620 Grassy Spring Place

3,601 $1,400,000

$389

2690 Grassy Spring Place

4,200 $1,600,000

$381

1954 Orchard Mist Street

3,420 $1,350,000

$395

11532 Snow Creek Avenue

2,325 $795,000

$342

11525 Timber Mountain Avenue

2,325 $900,000

$387

3405 Turtle Head Peak Drive

3,823 $2,375,000

$621

11271 Winter Cottage Place

4,443 $1,780,000

$401

2951 Raywood Ash Drive

2,852 $1,299,900

$456

10950 Red Yucca Drive

2,123 $1,050,000

$495

4154 Bronze Ridge Street

5,229 $3,150,000

$602

54 Crested Cloud Way

7,784 $5,899,999

$758

15 Garden Rain Drive

3,776 $2,399,000

$635

24 Garden Rain Drive

3,776 $2,100,000

$556

76 Glade Hollow Drive

4,620 $2,725,000

$590

53 Meadowhawk Lane

5,075 $3,000,000

$591

90 Meadowhawk Lane

6,033 $5,400,000

$895

79 Pristine Glen Street

4,172 $1,950,000

$467

28 Soaring Bird Court

6,653 $4,150,000

$624

24 Springacre Drive

3,776 $2,250,000

$596

11245 Stardust Drive

7,782 $17,500,000 $2,249

9013 Greensboro Lane

10,533 $3,350,000

$318

10908 Willow Heights Drive

5,788 $2,350,000

$406

LAS VEGAS

Country Rose Estates

Canyon Gate

One Queensridge Place

Queensridge

4,202 $925,000

$220

3,029 $975,000

$322

9041 Opus Drive

3,029 $950,000

$314

9053 Opus Drive

3,029 $975,000

$322

8813 Rainbow Ridge Drive

3,146 $865,000

$275

9005 Robinson Ridge Drive

3,029 $763,500

$252

9101 Alta Drive, #12

2,046 $750,000

$367

9101 Alta Drive, #204

3,100 $1,500,000

$484

9101Alta Drive, #805

3,355 $1,850,000

$551

9101 Alta Drive, #1001

4,792 $2,600,000

$543

9101 Alta Drive, #1006

2,137 $1,050,000

$491

9103 Alta Drive, #205

3,355 $1,475,000

$440

9103 Alta Drive, #1501

5,844 $4,000,000

$684

9721 Camden Hills Avenue

3,913 $1,175,000

$300

9613 Gavin Stone Avenue

3,681 $900,000

$244

300 Onyx Crest Street

3,330 $1,170,000

$351

900 Pont Chartrain Drive

3,936 $1,800,000

$457

9301 Verlaine Court

8,880 $4,395,000

$495

9413 Verlaine Court

7,264 $2,400,000

$330

1009 Windfair Village Street

2,901 $818,000

$282

9900 Aspen Knoll Court

3,274 $845,000

$258

3,225 $1,115,000

$346

50 Olympia Hills Circle

11,726 $5,400,000

$461

Spanish Hills

5100 Spanish Heights Drive

14,306 $6,000,000

$419

Spanish Trail

15 Princeville Lane

5,933 $1,400,000

$236

Tuscan Cliff s

11132 San Terrazo Place

6,923 $2,513,495

$363

1 Awbrey Court

10,313 $3,900,000

$378

29 Candlewyck Drive

3,374 $1,395,000

$413

Southern Highlands

Anthem Country Club

Ascaya

4 Caprington Road

1,905 $685,000

$360

5 Chalet Hills Terrace

5,695 $1,825,000

$320

108 Fountainhead Circle

1,942 $815,000

$420

73 Kittansett Loop

7,661 $4,100,000

$535

15 Oro Valley Drive

3,848 $1,035,000

$269

16 Paradise Valley Court

6,738 $3,023,000

$449

4 Sankaty Circle

5,344 $2,880,000

$539

24 Starbrook Drive

3,942 $1,525,000

$387

1 Boulderback Drive

4,922 $4,600,000

$935

7 Cloud Chaser Boulevard

8,925 $10,500,000 $1,176

11 Cloud Chaser Boulevard

6,855 $5,400,000

$788

2319 Caserta Court

6,046 $985,000

$163

2338 Villandry Court

5,576 $1,450,000

$260

165 Inveraray Court

4,854 $1,423,390

$293

1635 Liege Drive

5,523 $2,225,000

$403

1465 MacDonald Ranch Drive

9,717 $3,650,000

$376

604 Saint Croix Street

11,567 $3,780,000

$327

675 Scenic Rim Drive

5,260 $3,750,000

$713

Roma Hills

775 Clove Court

4,947 $1,700,000

$344

Seven Hills - Terracina/ Venezia

1529 Villa Rica Drive

7,698 $2,150,000

$279

The Fountains Legacy Estates

No closed sales for the month of July in Aventura, Country Club Hills, The Vineyards, Ten Oaks, Hillsboro Heights, and Seven Hills - Rapallo

1905 Iron Ridge Drive 9033 Opus Drive

9920 Robin Oaks Drive

Regency at the Lakes

HENDERSON

Corta Bella

SUMMERLIN

ADDRESS

Bellacere

MacDonald Highlands

HOW’S THE MARKET? | GUARD GATED SALES STATISTICS - JULY PRICE RANGE

FOR SALE

UNDER CONTRACT

SOLD

EXPIRED

ABS* RATE (MONTHS)

$500K-$749K

21

22

20

0

1.8

$750K-$999K

28

24

36

1

1.6

$1M-$1.49M

41

32

29

6

2.1

$1.5M-$1.99M

35

17

15

1

3.2

$2M-$2.49M

25

9

10

0

5.2

$2.5M-$2.99M

10

5

4

0

2.7

$3M-$3.99M

28

14

9

0

7.6

$4M+

66

12

11

2

7.4

*ABS(orption) 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), 07/31/21.

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 | JULY

JUL '21

CLOSED SALES

MONTHLY & YEARLY

07/31/21

UNDER CONTRACT

07/31/21

ACTIVE LISTINGS

134 135 389

Over JUN '21

-1%

-19.2%

+3.7%

Over JUL '20

+51%

-20.6%

-38.5%

JUN '21

135

167

375

JUL '20

89

170

633

#3040AmericanRiver

3040 AMERICAN RIVER LANE WILLOW CREEK | $2,750,000

5,580 Square Feet | 5 Bedrooms | 6 Bathrooms | Custom Single-Story

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Masterfully designed by the architect behind Tivoli Village and One Queensridge Place, this custom single-story estate presents a rare lifestyle in Willow Falls, a gated subdivision of the 24-hour guard gated community of Willow Creek in Summerlin. From striking natural stone facades to palatial interior spaces, no detail has been spared. Step inside and discover a wealth of artisan finishes: hand-laid Venetian plaster, travertine floors, seventeen skylights, and custom masonry featuring seven types of stone from six different countries. True resort-style living awaits in the skylit lanai, an air-conditioned veranda with an irrigated garden bed and a 25’ wide wall of glass that opens to the 50’ lagoon pool.

#2611NevadaAgave

2611 NEVADA AGAVE LANE REVERENCE | $1,600,000

4,099 Square Feet | 5 Bedrooms | 5 Bathrooms | Two-Story

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Perched on an elevated hillside lot, this two-story home boasts unmatched privacy and unobstructed mountain views in Reverence—an esteemed, guard gated, Summerlin community developed exclusively by Pulte Homes. Modern finishes include highly durable laminate wood flooring, quartz and marble countertops, and oversized picture windows that celebrate the view. Reverence’s 16,000-square-foot indoor/outdoor Clubhouse features a state-of-the-art fitness center, an aerobics room, an event lawn, pickleball courts, a lap pool, and a resort-style, beach-entry pool with cabanas.

#704Tandoori

704 TANDOORI LANE SERRANO | $1,479,000

4,618 Square Feet | 5 Bedrooms | 5 Bathrooms | Two-Story

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Built around a central courtyard, this two-story Toll Brothers home presents a wonderful indoor/outdoor lifestyle in Serrano, a gated community in the acclaimed Paseos Village of Summerlin. Highlights include a 48-panel solar power system, a 50’ long Pebble Tec pool with a spa, travertine and hardwood flooring, and built-in speakers inside and out.

Minutes from Red Rock Canyon, Downtown Summerlin, Red Rock Casino Resort & Spa, and some of the most desirable schools in the valley, Serrano is a great place to call home.

10785 W. Twain Avenue, Suite 110 Las Vegas, NV 89135 B.143770

SOLD $1,800,000 900 PONT CHARTRAIN DRIVE QUEENSRIDGE

SOLD $1,780,000

SOLD $865,000

11271 WINTER COTTAGE PLACE

8813 RAINBOW RIDGE DRIVE

RED ROCK COUNTRY CLUB

CANYON GATE

SOLD $855,000

SOLD $845,000

10491 HAYWOOD DRIVE

9900 ASPEN KNOLL COURT

THE GARDENS

robjensenco

REGENCY AT THE LAKES

robjensen.com

702.605.7480