Rob's Report - July 2020

ROB'S REPORT

SUMMERLIN, L AS VEGAS, & HENDERSON J U LY 2 0 2 0

1635 LIEGE DRIVE

#1635Liege

MACDONALD HIGHLANDS | $2,250,000 5,523 Square Feet | 4 Bedrooms | 6 Bathrooms | Custom Three-Story Perched on a premium hillside lot overlooking the Las Vegas Valley, this custom three-story estate with over $115,000 in recent upgrades sets a high standard of living in the exclusive guard gated community of MacDonald Highlands. From the walkout basement to the rooftop deck, every detail has been designed to provide a sublime indoor/outdoor lifestyle and take advantage of panoramic Strip, city, and mountain views.

Dear Friends, Already this summer is proving to be about extremes. Along with Las Vegas' temperatures skyrocketing, June's sales figures show that the local guard gated market is also super hot. For sellers, this means there are no lazy days of summer. Those who take action will gain a competitive edge and benefit from the opportunity in front of us. A few tips to make your summer selling experience smooth sailing: It starts as an inside job, meaning unless your home was built within the last five years or has undergone a significant remodel since 2015, it's time to pull and purge. Ditch the outdated wallpaper and drapes, while updating paint colors and fixtures. Buyers want a clean, neutral palette that requires minimal work to customize as their own. And if you would rather spend your summer at the beach or in the mountains, list your property so that the price offers an incentive for buyers to take on doing the work themselves.

Understand the news of the day; headlines about jumps in median home prices and price-per-square-foot foster good feelings in our city. But if you bought your home at the market peak 14 years ago, due to the property's age and existing competition, it has to be priced competitively. Sadly, the market doesn't consider your purchase price. But you have options.

Renting your property comes with advantages. The most obvious is it buys time to see if the market will increase. Another is after a property has been rented for two years, the homeowner may take advantage of losses incurred on their annual taxes. This scenario comes with some variables, so a discussion with your CPA should uncover the best option for you.

If you're a buyer searching for a home with a stellar backyard that offers the chance to take a dip in the pool, let's talk. We have plenty of options.

Sincerely, Rob Jensen Broker / President 702.605.7480 B.0143770.LLC

FOR THE MONTH OF| APRIL 2017 SOLD PROPERTIES GUARD GATED FOR THE MONTH OF JUNE 2020

SUMMERLIN ADDRESS

SF

LAS VEGAS PRICE

P/SF

Aventura* Bellacere* Canyon Fairways* Corta Bella* Country Club Hills 9104 Crystal Lake Court 1821 Wincanton Drive Country Rose Estates 9800 Cantebury Rose Lane Eagle Hills 1804 White Hawk Court Eagle Rock* Mountain Trails* The Palisades* Red Rock Country Club 2135 Alcova Ridge Drive 2453 Calico Creek Court 2007 Cherry Creek Circle 3298 Dove Run Creek Drive 11513 Glowing Sunset Lane 11514 Glowing Sunset Lane 11624 Glowing Sunset Lane 11296 Golden Chestnut Place 2695 Grassy Spring Place 2700 Grassy Spring Place 11654 Morning Grove Drive Reverence 3007 Dusky Willow Lane 2660 Orange Sky Lane The Ridges 34 Meadowhawk Lane 40 Soaring Bird Court 53 Sun Glow Lane

3,217 3,163

$885,000 $1,000,000

$275 $316

3,573

$595,000

$167

4,312

$1,700,000

$394

5,037 6,400 5,037 2,712 3,671 2,325 3,823 3,579 3,601 3,601 5,224

$1,145,000 $1,700,000 $1,375,000 $840,000 $1,250,000 $845,000 $1,575,000 $1,275,000 $1,130,000 $1,085,000 $1,892,000

$227 $266 $273 $310 $341 $363 $412 $356 $314 $301 $362

2,450 4,645

$650,000 $837,954

$265 $180

10,948 7,307 5,356

$5,500,000 $2,600,000 $2,900,000

$502 $356 $541

7,773

$1,800,000

$232

3,673

$1,200,000

$327

4,308 3,478 5,193

$965,000 $570,000 $1,515,212

$224 $164 $292

Tournament Hills 1101 Trophy Hills Drive The Vineyards 1217 Muscato Court Willow Creek 10836 Chartwell Court 10712 Grey Havens Court 3062 Wandering River Court

ADDRESS

SF

Canyon Gate* Queensridge 9801 Camden Hills Avenue 304 Nottinghill Gate Court 9708 Royal Lamb Drive 701 Sir James Bridge Way 9824 Winter Palace Drive Regency at the Lakes* Southern Highlands 4 Olympia Chase Drive 3388 Saddlebrook Street Spanish Hills* Spanish Trail 7878 Bermuda Dunes Avenue 12 Congressional Court 42 Sawgrass Court 58 Sawgrass Court Ten Oaks 7429 Oak Grove Avenue Tuscan Cliffs 4135 Villa Rafael Drive (REO)

PRICE

P/SF

3,679 3,798 3,417 2,917 6,153

$725,000 $812,500 $610,000 $660,000 $3,000,000

$197 $214 $179 $226 $488

6,103 2,189

$2,100,000 $535,000

$344 $244

3,508 4,439 7,713 5,946

$580,000 $720,000 $1,695,000 $945,000

$165 $162 $220 $159

3,988

$925,000

$232

5,838

$830,000

$142

PRICE

P/SF

HENDERSON ADDRESS

SF

Anthem Country Club 6 Anthem Creek Circle 3,942 45 Braelinn Drive 2,225 14 Brays Island Drive 3,216 10 Cedar Chase Drive 10,333 107 Emerald Dunes Circle 1,960 7 Karsten Creek Court 3,942 8 Kittansett Loop 3,420 26 Moraine Drive 2,678 43 Moraine Drive 1,942 3 Mountain Cove Court 5,603 9 Paradise Valley Court (REO) 6,567 The Fountains* Hillsboro Heights* Legacy Estates* MacDonald Highlands 669 Falcon Cliff Court 5,667 Roma Hills* Seven Hills - Rapallo* Seven Hills - Terracina/Venezia*

*No closed sales for the month of June

REO - Bank Owned Foreclosure

$1,065,000 $660,000 $1,090,000 $2,750,000 $500,000 $1,100,000 $1,150,000 $586,000 $538,000 $2,175,000 $1,276,275

$270 $297 $339 $266 $255 $279 $336 $219 $277 $388 $194

$3,350,000

$591

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

FOR SALE

UNDER CONTRACT

SOLD

EXPIRED

ABS* RATE (MONTHS)

$500K-$750K

82

41

33

7

5

$750K-$1M

98

36

14

5

11.2

$1M-$1.5M

88

24

16

4

8

$1.5M-$2M

67

10

8

4

14

$2M-$2.5M

47

5

2

1

26

$2.5M-$3M

26

8

3

0

13.6

$3M-$4M

24

12

2

1

24

$4M+

62

5

1

1

44.7

*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), 6/30/20.

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 | JUNE

JUN '20

CLOSED SALES

79

MONTHLY & YEARLY

6/30/20

UNDER CONTRACT

6/30/20

ACTIVE LISTINGS

141 635

Over May '20

+65%

+27%

+2.1%

Over Jun '19

+13%

+45.5%

-2.3%

MAY '20

48

111

622

JUN '19

70

97

650

#10121Edgecliff

10121 EDGECLIFF LANE CANYON CREST | $999,000

3,678 Square Feet | 3 Bedrooms | 4 Bathrooms | Custom Single-Story The good life awaits at this custom single-story home in Canyon Crest, a luxury gated community in the heart of Summerlin. Enter through the gated front patio and discover a classy interior defined by 12’ ceilings, polished travertine floors, and architectural columns. Highlights of this incredible home include an open plan kitchen and great room with a sunken wet bar, a 12-person beach-entry spa, and views of Cottonwood Canyon—a linear park filled with beautiful scenery, biking and walking trails, and picnic areas with grassy fields, wildflowers, and mountain views.

#620ProudEagle

620 PROUD EAGLE LANE EAGLE ROCK | $1,050,000

3,763 Square Feet | 5 Bedrooms | 5 Bathrooms | Two-Story Discover over $175,000 in upgrades at this two-story home in Eagle Rock—a 24-hour guard gated community located among some of the best shopping, dining, and golf courses that Summerlin has to offer. Highlights of this home include an expanded eat-in kitchen with a 10’ long island, an upgraded master suite with new countertops, an en suite casita with private access through the courtyard, and a gorgeous backyard with an L-shaped pool.

TEAM SPOTLIGHT!

Max Fox

CINEMATOGRAPHER

In an age where attention spans are short and the competition is fierce, professionally-produced video content is more important than ever. Since earning a Bachelor’s Degree in Film/TV Production and later joining the Rob Jensen Company team in 2018, Max Fox has shot, edited, and launched over 112 videos for our YouTube channel, which now has over 1.15 million total views.

As a technician and artist, Max creates property tour videos designed to present your home to potential buyers in a beautiful, informational, and emotionally engaging way. These videos highlight the scale and layout of the home, notable features and details, as well as standout materials and finishes. To share the benefits of living in each community, the videos showcase amenities such as clubhouses, golf courses, tennis courts, fitness facilities, private parks, and security. Max also produces video featurettes about cultural and community activities—like mountain biking in Red Rock Canyon and ice-skating on the Strip—because we’re not just selling homes, we’re selling the Las Vegas lifestyle.

From casting and directing to music curation and motion graphics, Max oversees every step of the video creation process. On top of that, he is proficient at using highly effective keywords and search engine optimization to maximize the visibility of our video content on the internet.

Overall, Max’s marketing contributions make a measurable and invaluable impact on the buying and selling process.

10785 W. Twain Avenue, Suite 110 Las Vegas, NV 89135 B.0143770.LLC

1912 GLENVIEW DRIVE

COUNTRY CLUB HILLS | $1,199,000

UNDER CONTRACT

221 DALMATIAN LANE

RANCHO BEL AIR | $999,000

robjensenco

robjensen.com

702.605.7480