Home Buying in 89012>Question Details

Ms. Chen, Other/Just Looking in New Jersey

I'm a investor & interested in Summerlin or Green Valley. Is there a over supply of rental properties to potential tenants in these areas??

Asked by Ms. Chen, New Jersey Mon Apr 4, 2011

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Ms. Chen,
My name is Jeff Englehart, I am a realtor with Century 21 in Henderson.
I primarily sell homes; however, I have been involved in renting 3 properties
in the last week, as well as a few others over the last 2 months. I have to say, it is
currently very competitive rental market. Condo's in the $ 650 to 700 range are
renting with in a week or less. I had a client and we lost 2 Condo's that we
were trying to rent in 1 day do to competition. Moreover, Condo's and Townhomes
in the $ 1000 to 1200 range, in the Green Valley area, are also very competitive !
3 to 4 applicants for home or Townhomes is not uncommon in the $ 1100 range.
Green Valley is very popular for rental is these price ranges, mentioned above.
Thanks
Jeff Englehart
Century 21 RE
(702) 501 5107
0 votes Thank Flag Link Mon Apr 4, 2011
I love these 2 areas. I know Green Valley the best. Been here for 12 years. I would be happy to personally assist you. Give me a call or visit my website at http://www.agentmitro.com . Look forward to hearing from you, Beth 1-877-702-AGENT
YES these areas are highly sought after and if home is listed at market rent and ready to move in it should rent within 30 days.
CALL ME!
0 votes Thank Flag Link Tue Sep 27, 2011
Catherine, thank you for your direct response. Email me directly, I will do a defined area search for available properties sending them directly to you for consideration. Together we can establish and increase your Investment Portfolio. Thanks, Larry
0 votes Thank Flag Link Mon Apr 4, 2011
Thank you all for your response!
Larry: my ROI goal is to have a great appreciation value,and potive cashflow of $500 a month. I did some search and found the best elementary school in the area is Frank Lamping Elementary. So, my goal is to find a property that is zoned for this public school. I think it's easier to find quality tenants if the home is in the best school zoning neighborhood.
My price range is $80-$190K for a 3bed/2bath home that is in great condition, preferbably built after 2000. I heard some forclosure properties are severely ruined/damaged. I also heard short sell takes months to close, if I put all cash, will it speed up the process?
0 votes Thank Flag Link Mon Apr 4, 2011
Hi Catherine, both locations have positive potential. What are your expectations for your ROI? Within the spectrum of total value are you wanting to factor in appreciation, inflation and cash flow? I can provide you with statistics relating to current rental listings available, recently leased properties, as well as overall community evaluations. We can also guide and present financing options, if needed.

Looking forward to communicating with you,


Co-ordinating Real Estate for You

Larry A Roeder LLC
REALTOR ®
ECO Properties
1720 W Horizon Ridge Pkwy Suite 110
Henderson Nv 89012
cell: 702-755-0176
email: larry@roederandassociates.com
0 votes Thank Flag Link Mon Apr 4, 2011
Good afternoon Catherine:

I have been helping a few clients from East Coast. You can find pretty good rental properties both in Green Valley and Summerlin or South. But as a Chinese parent with school age kids, I agreed with most of my buyers: looking for nice areas with good school districts are very important for a long term investment. Summerlin has a great private school named Meadow. But it is very costly. Green Valley High School is one of the top 1000 high schools in US on US Newsweeks for several years. Cornado High in Green Valley is also a great school too. One of my friend's daughter just got admitted to Daramarth Unive. this year. I even asked her dad how to raise the daughter last weekend in one of my buyer's house warming party! Please contact me if you like to have more details: elise1877@yahoo.com, Wing Jiang Glezen at Wood Real Estate. Thanks and good luck.
0 votes Thank Flag Link Mon Apr 4, 2011
Hmm, I defer on some of the opinions here. Summerlin is one of the most well-known and desireable areas of Las Vegas rents are higher than the surrounding areas. And average purchase price is higher. After careful research most or my investor clients from Canada, China, and the U.S. believe Summerlin is the place they want to put their money long-term. Pure cash flow as a percentage of sales price can be higher in other places but long term investors bet on future appreciation of Summerlin. It really depends on your investment goal. In any event, you can do well in Green Valley or Summerlin.
0 votes Thank Flag Link Mon Apr 4, 2011
Hi Catherine,
It seems like you want to do your own research to me. Please look at our association's website for stats. Call text &/or email me to be of further help for you. My site is http://www.realtoramfox3.com
Thank you,
0 votes Thank Flag Link Mon Apr 4, 2011
89052 will have the greatest value in regards to rental income and long term appreciation. If you would prefer, I can send you an email with what's available in both areas that might cash flow as a rental.
0 votes Thank Flag Link Mon Apr 4, 2011
Thank you Sharon, Teresa and Anthony for your input. Which zip code should i use to search the most desirable investment properties Henderson 89052 ?or 89012?
0 votes Thank Flag Link Mon Apr 4, 2011
Good Morning, I can see that the question has been answered very well, with this exception , my thoughts are that Green Valley will return a higher rent. You may pay less in Summerlin, but the property value and rents will be slower to rebound. Sharon Klatt, Keller Williams Realty 702-286-8785
0 votes Thank Flag Link Mon Apr 4, 2011
Both areas are very disirable in Las Vegas or Henderson. In both you will be able to rent with no problem. Please contact me for further information. Thank you. Teresa Realty 360 702-516-1753
Web Reference: http://buyinvegas.info
0 votes Thank Flag Link Mon Apr 4, 2011
Hi Catherine. Summerlin and Green Valley remain the most desirable areas for buyers and renters alike. If priced properly, available units for rent do not stay on the market long. With such a high number of people losing their homes in Las Vegas and Henderson, rental numbers have picked up as they need somewhere to live. Please feel free to contact me for any questions you may have. I specialize in investment properties and have helped my clients purchase cash flowing units in Green Valley and Summerlin.

Anthony 702-353-6759
0 votes Thank Flag Link Mon Apr 4, 2011
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