BluefoxToday blog : Las Vegas suburbs on the march

Las Vegas suburbs on the march

Wolf Creek Golf Club, Mesquite, NV 

Las Vegas valley still has a good amount of land available for residential development and eventually it'll be graded for more houses and condos and townhouses. But real estate is getting so expensive here that the future homes will be priced out of reach for many buyers. Another housing solution has to be found. Home builders have their finger on the pulse, of course, and are gradually shifting some operations into the outlying towns like Mesquite, Pahrump and Coyote Springs, each about an hour's drive from the Strip.

Prices over in these bedroom communities can be 20% to 50% less than here, incentive enough for many to handle the extra commute time with a smile and a favorite tune. Not only that, but you can get more house and yard for the price, too. How about a single-story home on close to a quarter-acre lot? In comparison, some of the new Vegas houses are mere three-story boxes sitting on tiny slices of land, leaving so little space out front and back that you can't call them yards any more.

Las Vegas also suffers from water supply issues and these suburbs don't. Colorado River brings the lifeline here and has been way below its normal flow over the last several years. During that time Lake Mead has plunged 95 feet, an astounding figure. The situation is so worrisome that Clark County, where Vegas is, has for now scrapped new golf course construction. Whereas Mesquite takes its water from the Virgin River. And Pahrump is in Nye County and Coyote Springs is mostly in Lincoln County, both of which have ample water resources on hand.

Look for these communities to become trendy options for many who desire to own a home in Southern Nevada.

 

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Provided by: 

Esko Kiuru
Mortgage, real estate and apartment industry analyst 

www.BluefoxToday.com - syndicated mortgage, housing and property management blog

eskokiuru@gmail.com
My cell: 702-499-1006

Comment balloon 2 commentsEsko Kiuru • July 24 2007 07:25PM

Comments

so what kind of investment opportunities are in the Vegas area?
Posted by Ethan Dozeman, Real Estate in Grand Rapids (Realty Executives Platinum Group) almost 11 years ago

Ethan,

It's one large buyer's market today. Have your pick.

Posted by Esko Kiuru almost 11 years ago

Participate