Roberta's Las Vegas Real Estate Blog: Pardee Homes Las Vegas - New Homes - Northpointe & Horizon at Eldorado Highlands - Photo Tour

Pardee Homes Las Vegas - New Homes - Northpointe & Horizon at Eldorado Highlands - Photo Tour

I've been out previewing homes for out-of-town clients, and have done a mix of REO's, resales, and new homes. One stop was at Pardee Homes for their Northpointe and Horizon at Eldorado Highlands, in the north end of the Las Vegas Valley. It's not far from the new Aliante Station Casino Resort scheduled to open November 11th, and the 215 beltway.

Currently at Horizon, they have single and two story models that start at 2027 square feet, and go up to 3010 square feet. Base prices at the moment range from the mid $200,000's to low $300,000's. Depending on the model these homes may have 3 bedroom 2 bath to 4 bedroom 3 bath and either 2 or 3 bay garages, with additional configurations available.

Their Northpointe homes also have single and two story models at present, with their square footage ranging from 2321 to 3861, all with 3 bay garages. Bed and bath combinations go from 3 and 2 ½, all the way up to 6 and 4 with library and loft, and optional layouts. At the time of my visit the base pricing ranges from the upper $200,000's to mid $300,000's.

I've mentioned in past blogs, such as KB Homes at Inspirada in Henderson and Ryland Homes in North Las Vegas, that many home buyers are so keyed into foreclosures as the only 'deals' in town, that they may be overlooking what builders are offering. As you can see once again, the pricing here at Pardee Homes is in the realm of per square foot pricing of the foreclosures. So you may want to weigh the differences of an as-is Bank Owned, or resale, against a new home with warranty and possibly more energy efficiency and features. It never hurts to comparison shop for a buyer to determine what offers them the most for their investment.

Home Buyers Please Note: To be represented by your own agent with a home builder, the agent must accompany you on your first visit to any of the builder's home sites. You can also be denied having your own agent when registering online, even for information. Always contact a REALTOR® first to preserve your right to have your own representation to assist you in getting the best value.

Now you're ready for the tour, so here's a quick slideshow to give you an idea of the style of these homes being offered by Pardee Homes at Eldorado Highlands here in the Las Vegas Valley. To view full screen, simply click the HD button on the bottom of the player, and when finished click it again to return.

Can't see the XML Flash player embedded in the current posting? To view this and all my other Las Vegas slideshows, including some of the interesting neighborhoods and events found in and around the Las Vegas Valley,  CLICK HERE.

 

If you are interested in relocating to Las Vegas or would like information on Las Vegas real estate, please email me, Roberta LaRocca, at roberta@search4lasvegashomes.com, or call me at 702-354-8988. I look forward to hearing from you!

 

 

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Comment balloon 4 commentsRoberta LaRocca • September 25 2008 06:13PM

Comments

Roberta very nice pictures. Maybe this sounds stupid but I have to ask. A home is inspected and know what your getting what is the big deal about as is? Why do I need my own agent to buy a new home?

Posted by Michael almost 11 years ago

Michael: Thanks on the pictures! Hey, there's no such thing as stupid questions.  

Yes, there are some foreclosures that appear to be in great shape, and a home inspection may also come back good. Or you may have a visual idea of what they'll need. They may offer a great value...but there could be some things you should still take into consideration. Bank / corporate owned home sales will typically require a buyer to waive disclosures on the home for a number of things, including known defects. Since they haven't lived in the home it's probably difficult for them to be aware of any problems or provide any information. That limits your recourse if something were to occur after purchase. Will there be anything wrong, something that slips by a visual inspection? Maybe yes, maybe no, but that's a risk you take.

There may be those home conditions and expenses with a foreclosure, or a resale. From carpets, paint, trim, appliances, etc, to landscaping or other outdoor repairs to get a property into top shape, or useful life somewhat limited from new. With a bank owned, you may also want to allow for additional possibilities. If an owner lost their home from not paying / unable to cover their mortgage, did they also skip any maintenance? Was there hidden damage, intentional or not? For example, was the power shut off and mechanical systems still operational at inspection, but shortened their life span or need repair sooner, from heat, cold, or lack of use?

With a resale you'll typically get disclosures and often be able to raise questions on ages or maintenance issues of systems or structure to base your decision and offer. Having that, you may also have some recourse with the previous owner if a situation were to arise after purchase. A legal professional could be consulted to discuss any options you may have in a given situation. You may also be able to negotiate any repair or replacement items with an owner in a resale, either in sales price or having the problem corrected as agreed in the terms of the sale. Bank owned properties normally don't offer much room for negotiation of repairs or replacement with the 'as-is'.

New homes of course come with builder's and appliance manufacturer's warranties. You will also do a walk though to allow for anything that may need to be addressed before taking possession. There you could also have recourse in the event of construction defects, should the builder not correct them under warranty.

I'd equate all this to the options of buying a car. If you buy used at auction, you'll have limited inspection and knowledge, and little or no recourse by buying as-is, or 'caveat emptor', "let the buyer beware." Then there's buying a used car with a limited or balance of warranty that may offer you more protection, or repairs performed before purchase, and potential remedies if mislead. Compare those with buying a new car with manufacturer warranty and 'lemon law' if they are unable to repair the vehicle, that gives you some additional protections and an unused condition from the latest model. Each presents a different value and level of risk and remedy. They are all sold in these various forms, but what 'works' for an individual situation, preferences, and budget can vary.  

Foreclosure, resale, or new construction each have issues and expenses that you need to weigh in your decision. During the boom years there was a larger spread in pricing between them. In the current market, pricing is often much closer, and why you shouldn't assume the best 'deal' will always have foreclosure attached to it.  

That brings us to your second question about "why do I need an agent to buy a new home," and your asking questions are part of your answer. Good agents provide knowledge. From possibly knowing what a builder may be willing to negotiate above what is offered up front, and what other builders are offering for comparison. Answering your buying questions as they arise and potentially providing other options that you aren't even considering.  

Unlike an on-site agent, we're not limited to a specific builder or to only new sales, as you can see from the other builders and neighborhoods found in my blog. Agents can present a variety of choices to help you make your best decision. Perhaps there is a bank owned or resale in that same new neighborhood, or the same or similar home nearby that does offer a better value option for your situation. More or custom upgrades, furnished, larger lot, pool, location, better price, etc. By having your own agent, you'll have the opportunity to gain a wider perspective.  

Let me add that typically the buyer's agent fees are from a co-op. That means that the builder has agreed to pay a certain amount of commission on a home sale and the amount usually retained by the on-site agent, or split between them and your buyer's agent if you have one. This is similar to most any resale / bank owned in NV., where if the listing agent also sells the home they get the full commission from the seller, or if the buyer has their own agent it is split according to the terms offered.  

Michael, pardon the length, but I've had to present this in some very general terms because there are always individual situations that will vary. Still, I hope that helps and gives you a little better understanding.

Posted by Roberta LaRocca, REALTOR®, Broker, Salesperson, Property Management (Simply Vegas Real Estate) almost 11 years ago

Thanks for the input it really helps. I didn't know about the waivers and everything else makes sense. Need to estimate total costs allow some extra room with foreclosures and compare that to others. What issues would you have with new homes?

Posted by Michael almost 11 years ago

Michael: You're welcome, and sounds like you've got it! Some new home issues can be personal choices. A few examples might be... an established community vs. how long it will take for a new one until build out. Amenities offered or maybe waiting until built, HOA fees and assessments if any, and of course the old saying of location, location, location. That last one possibly access to work, schools, shopping, or from views to privacy... whatever might be important to you personally.   

Posted by Roberta LaRocca, REALTOR®, Broker, Salesperson, Property Management (Simply Vegas Real Estate) almost 11 years ago

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