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Number of listings down 11 weeks in a row, down 136 this week

11/16/2019
The amount of listings went  DOWN 136  since I checked last Saturday. I just checked and there were 6971 on Saturday 11/16/19 at 6:10 .We were at 7138 on the corresponding date last year, and 4738 on the corresponding week in 2017, We are down 167 listings from the same week last year, and up 2253 from 2017. We were at 6554 on Jan 1 2019, which was the low for the year. The high for the year was 8148 on June 22nd.  .  This is the first Saturday with listings under 7000 since January 12, and the first time this year that we had fewer listings than last year. Listings often go down on the first week of a given month, due to the fact that many listings expire on the last day of the previous month,
DATE                                    NUMBER                 DATE                               NUMBER
      12/29/18  6789
       12/22/18  6850
      12/15/18 6906
      12/8/18 7005
      12/1/18 6941
      11/24/18 7106
 11/16/19  6971   11/17/18 7138
 11/9/19  7107   11/10/18 7080
 11/2/19  7205   11/3/18 6941
 10/26/19  7315   10/27/18 6815
 10/19/19  7433   10/20/18 6657
 10/12/19  7500   10/13/18 6546
 10/5/19  7510   10/6/18 6406
 9/28/19  7515   9/29/18 6279
 9/21/19  7560   9/22/18 6190
 9/14/19 7680    9/15/18 6065
 9/7/19 7669    9/8/18 5932
 8/31/19 7844    9/2/17 5705
 8/24/19  7838   8/25/18 5626
 8/17/19  7832   8/18/18 5408
 8/10/19  7898   8/11/18 5276
 8/3/19 7846    8/4/18 4956
 7/27/19  7948   7/28/18 4769
 7/20/19  8036   7/21/18 4710
 7/13/19  8047   7/14/18 4567
 7/6/19  8015   7/7/18 4512
 6/29/19  8088   6/30/18 4437
 6/22/19  8148   6/23/18 4433
 6/15/19  8098   6/16/18 4411
 6/8/19  8008   6/9/18 4334
 6/1/19  7982   6/2/18 4241
 5/25/19  8055   5/26/18 4204
 5/18/19  7936   5/19/18 4170
 5/11/19  7846   5/12/18 4083
 5/4/19  7723   5/5/18 4085
4/27/19  7719   4/28/18 3999
 4/20/19  7663   4/21/18 4023
 4/13/19  7544   4/14/18 3930
 4/6/19  7432   4/7/18 3865
 3/30/19 7448    3/31/18 3771
 3/23/19  7447   3/24/18 3860
 3/16/19 7404    3/17/18 3841
 3/9/19  7345   3/10/18 3784
 3/2/19  7260   3/3/18 3756
 2/23/19  7342   2/24/18 3752
 2/16/19  7414   2/17/18 3811
 2/9/19  7375   2/10/18 3813
 2/2/19  7303   2/3/18 3787
 1/26/19 7252    1/27/18 3837
 1/19/19  7121   1/20/18 3890
01/12/19  6978   1/13/18 3954
01/05/19  6701   1/6/18 3863
 01/01/19  6554   1/1/18 3808

 

We have been keeping track of available single family listings in Las Vegas, Henderson, North Las Vegas and Boulder City for years. It is a pretty good indication as to the direction of the market. In our 25+ years of selling real estate here in Las Vegas, we have seen the number of listings range from under 3000 to over 22000.  If the number keeps going up, expect prices to stabilize or go down.  Feel free to call us or e-mail us for any of your real estate questions.  

 

Sean and Emily Gunning
Berkshire Hathaway Home Services, Nevada Properties 
702 498-1171 [Sean] Sean@sellingvegas.com 
702 596-1171 [Emily] Emily@sellingvegas.com
www.SellingVegas.com

Read our 160+ 5 star Zillow reviews: here

Median price for November down a little bit..... it's early

11/14/2019
The median price of a single family home in the MLS system is $305000 so far this month, down $2000 from October, and down $5000 from the 13 year high in September.  It's still early, so let's see what happens the rest of the month.




Sale Price, Median
Month20182019
Jan $265,000 $300,000
Feb $275,000 $296,750
Mar $280,000 $300,000
Apr $289,560 $300,000
May $295,000 $300,000
Jun $290,001 $304,000
Jul $290,000 $303,000
Aug $295,000 $305,000
Sep $300,000 $310,000
Oct $296,000 $307,000
Nov $296,000 $305,000
Dec $295,500  
 
Time frame is from Jan 2018 to Nov 2019
Property Sub Type is 'Single Family Residential'
Results calculated from 61,205 listings

Number of listings down 10 weeks in a row, down 98 this week

11/9/2019
The amount of listings went  DOWN 98  since I checked last Saturday. I just checked and there were 7107 on Saturday 11/9/19 at 6:50 .We were at 7080 on the corresponding date last year, and 4777 on the corresponding week in 2017, We are up 27 listings from the same week last year, and up 2330 from 2017. We were at 6554 on Jan 1 2019, which was the low for the year. The high for the year was 8148 on June 22nd.  .  Listings often go down on the first week of a given month, due to the fact that many listings expire on the last day of the previous month,
DATE                                    NUMBER                 DATE                               NUMBER
      12/29/18  6789
       12/22/18  6850
      12/15/18 6906
      12/8/18 7005
      12/1/18 6941
      11/24/18 7106
      11/17/18 7138
 11/9/19  7107   11/10/18 7080
 11/2/19  7205   11/3/18 6941
 10/26/19  7315   10/27/18 6815
 10/19/19  7433   10/20/18 6657
 10/12/19  7500   10/13/18 6546
 10/5/19  7510   10/6/18 6406
 9/28/19  7515   9/29/18 6279
 9/21/19  7560   9/22/18 6190
 9/14/19 7680    9/15/18 6065
 9/7/19 7669    9/8/18 5932
 8/31/19 7844    9/2/17 5705
 8/24/19  7838   8/25/18 5626
 8/17/19  7832   8/18/18 5408
 8/10/19  7898   8/11/18 5276
 8/3/19 7846    8/4/18 4956
 7/27/19  7948   7/28/18 4769
 7/20/19  8036   7/21/18 4710
 7/13/19  8047   7/14/18 4567
 7/6/19  8015   7/7/18 4512
 6/29/19  8088   6/30/18 4437
 6/22/19  8148   6/23/18 4433
 6/15/19  8098   6/16/18 4411
 6/8/19  8008   6/9/18 4334
 6/1/19  7982   6/2/18 4241
 5/25/19  8055   5/26/18 4204
 5/18/19  7936   5/19/18 4170
 5/11/19  7846   5/12/18 4083
 5/4/19  7723   5/5/18 4085
4/27/19  7719   4/28/18 3999
 4/20/19  7663   4/21/18 4023
 4/13/19  7544   4/14/18 3930
 4/6/19  7432   4/7/18 3865
 3/30/19 7448    3/31/18 3771
 3/23/19  7447   3/24/18 3860
 3/16/19 7404    3/17/18 3841
 3/9/19  7345   3/10/18 3784
 3/2/19  7260   3/3/18 3756
 2/23/19  7342   2/24/18 3752
 2/16/19  7414   2/17/18 3811
 2/9/19  7375   2/10/18 3813
 2/2/19  7303   2/3/18 3787
 1/26/19 7252    1/27/18 3837
 1/19/19  7121   1/20/18 3890
01/12/19  6978   1/13/18 3954
01/05/19  6701   1/6/18 3863
 01/01/19  6554   1/1/18 3808

 

We have been keeping track of available single family listings in Las Vegas, Henderson, North Las Vegas and Boulder City for years. It is a pretty good indication as to the direction of the market. In our 25+ years of selling real estate here in Las Vegas, we have seen the number of listings range from under 3000 to over 22000.  If the number keeps going up, expect prices to stabilize or go down.  Feel free to call us or e-mail us for any of your real estate questions.  

 

Sean and Emily Gunning
Berkshire Hathaway Home Services, Nevada Properties 
702 498-1171 [Sean] Sean@sellingvegas.com 
702 596-1171 [Emily] Emily@sellingvegas.com
www.SellingVegas.com

Read our 160+ 5 star Zillow reviews: here

We saw this article in the Review Journal and wanted to pass it on

11/6/2019

Las Vegas home sales up in October, but median price dips

 

By Eli Segall Las Vegas Review-Journal

November 6, 2019 - 12:06 pm

  

 Las Vegas house sales rose last month from September amid slipping prices, putting the market further out of reach from its pre-recession record, a new report shows.

A total of 2,899 previously owned single-family homes changed hands last month, up 5.4 percent from September and 7.9 percent from October 2018, according to the Greater Las Vegas Association of Realtors.

The median price of last month’s sales was $307,000, down 1 percent from September but up 4.1 percent from October 2018, the trade group reported Wednesday.

Meanwhile, 7,210 houses were on the market without offers at the end of October, down 1.7 percent from September but up 4.2 percent from a year ago.

The GLVAR pulls data from its listing service, which largely comprises previously owned homes. Single-family houses make up the bulk of Las Vegas’ sales market.

GLVAR President Janet Carpenter, of Signature Real Estate Group, said in a statement that prices “are as stable as they’ve been in years” and growing at a more gradual pace, though many buyers still face challenges finding homes “that are both available and affordable.”

“But at least buyers are benefiting from more stable prices, more homes on the market than we had at this time last year and historically low mortgage interest rates,” Carpenter added.

Las Vegas’ housing market has slowed this year after a heated run in 2018 sparked affordability concerns. Prices aren’t growing nearly as fast, builders have closed fewer sales, and the once-shrunken tally of available listings has shot back up.

However, the slower price growth bodes well for buyers, as does the drop in interest rates from last year’s levels.

Nationally, the average rate on a 30-year home loan was 3.69 percent last month, up from 3.61 percent in September but down from 4.83 percent in October 2018, according to mortgage-finance giant Freddie Mac.

Amid the shifts, sales activity has picked up lately in Southern Nevada, including for new construction. But resale prices are still below their bubble-era peak reached more than a decade ago.

Before the economy imploded, the median sales price of previously owned single-family homes topped out in June 2006 at $315,000, according to the GLVAR.

Adjusted for inflation, the gap between then and now is even larger: In today’s dollars, the prior record is around $398,600.

 

Median price slips a little in October, but up $11000 year over year

11/5/2019
all MLS median 12 months 
MonthSale Price, Median
Dec 2018 $295,500
Jan 2019 $300,000
Feb 2019 $296,750
Mar 2019 $300,000
Apr 2019 $300,000
May 2019 $300,000
Jun 2019 $304,000
Jul 2019 $303,000
Aug 2019 $305,000
Sep 2019 $310,000
Oct 2019 $307,000
Time frame is from Dec 2018 to Nov 2019
Property Sub Type is 'Single Family Residential'
Results calculated from 29,843 listings

We saw this article in the Review Journal and wanted to pass it on

11/5/2019

Summerlin sees rise in new home sales during 3rd quarter

By Eli Segall Las Vegas Review-Journal

November 5, 2019 - 6:54 am

  

Despite an overall sales dip this year in Summerlin, homebuilders found more buyers in recent months in Las Vegas’ largest master-planned community.

Builders notched 322 net new-home sales in Summerlin in the three months ending Sept. 30, up 6.6 percent from the same period last year, Summerlin developer Howard Hughes Corp. reported Monday.

This year through September, however, homebuilders booked 989 sales in the sprawling community, down 5.4 percent from the same nine-month stretch last year, according to Hughes Corp.

Summerlin, which spans 22,500 acres along the valley’s western rim, boasts more than 100,000 residents and some of the highest home and land prices in Southern Nevada.

It’s not alone, though, as Southern Nevada’s broader homebuilding market has seen a bump in sales activity lately amid a dip for the year.

Builders reported 2,500 net sales — newly signed sales contracts minus any cancellations — in Southern Nevada for the third quarter, up 8.5 percent from the same period last year, according to Las Vegas housing tracker Andrew Smith, president of Home Builders Research.

Overall, builders closed around 7,780 sales this year through September, down 2.4 percent from the same period last year, Smith reported.

There can be a lag time of several months between signing a sales contract with a builder and closing the purchase.

Hughes Corp., which owns the Las Vegas Aviators, the team’s ballpark, the open-air Downtown Summerlin mall and thousands of acres of suburban Las Vegas land, disclosed Summerlin’s sales figures as part of its third-quarter earnings report.

The Texas-based developer, which has projects and properties in several states, earned $30 million in profit, up 26 percent from the same period last year.

After weighing a possible sale of the company, Hughes Corp. announced last month that Paul Layne, a regional president, had replaced CEO David Weinreb effective immediately. The company also said it wants to sell about $2 billion in “non-core assets” and to reduce overhead by $45 million to $50 million annually through organizational changes.

The developer said Monday it sold a mall in Utah for $46 million and about 650 acres of land in New Jersey for $40 million.

 

We saw this article in the Review Journal and wanted to pass it on

11/2/2019

Las Vegas’ sharp drop in home price growth could spur more sales

 

By Eli Segall Las Vegas Review-Journal

November 2, 2019 - 7:24 am

A decade ago, Las Vegas’ housing market was in a nosedive.

Lenders were foreclosing on homes across the valley, builders’ sales were evaporating, and house values were plunging.

The market is on much stronger footing today but has slowed considerably this year, after a heated run in 2018 sparked affordability concerns. There’s no way to predict whether we’re in the early stages of a crash, but the cooling, at least in theory, could help jump-start home sales — and there are some signs that buyer activity has picked up lately.

Southern Nevada home prices were up 3.3 percent year-over-year in August, according to the S&P CoreLogic Case-Shiller index released Tuesday by S&P Dow Jones Indices. Las Vegas’ growth rate was eighth among the 20 markets in the report, a sharp drop after two years in the No. 1 or No. 2 slots on Case-Shiller’s list.

The slower price growth, with a drop in interest rates since last year, bodes well for buyers by making homes more affordable, or at least not as expensive as they could be.

It’s hard enough to keep up with rising home prices when wages aren’t climbing fast, let alone when house values shoot past any bumps in pay. In August 2018, Las Vegas home prices were up almost 14 percent from a year earlier, S&P Dow Jones previously reported — more than four times the current pace.

Las Vegas’ housing market is more volatile than other cities, and “normal” here is a relative term in more ways than one, but the slower price growth has let some air out of the market. As Zillow economist Matthew Speakman put it this week, price growth nationally “continues to slow and come back in line with historic norms.”

Meanwhile, tumbling mortgage rates lower monthly house payments, as money is cheaper to borrow. Nationally, the average rate on a 30-year loan was 3.61 percent in September, down from 4.63 percent a year earlier, according to Freddie Mac.

Amid the shifts, sales volume has been on the upswing in Southern Nevada.

Builders reported 2,500 net sales — newly signed sales contracts minus any cancellations — for the third quarter, up 8.5 percent from the same period last year, according to Las Vegas housing tracker Andrew Smith, president of Home Builders Research.

On the resale market, 2,750 single-family houses changed hands in September, up nearly 13 percent from the same month last year, according to the Greater Las Vegas Association of Realtors.

Still, overall this year, sales totals are slumping in Southern Nevada.

A total of 36,665 homes traded hands this year through October, down 4 percent from the same period last year, according to the GLVAR, which pulls data from its resale-heavy listing service.

Is another housing apocalypse around the corner? It seems unlikely. Last year’s run-up was tame compared with the frenzy of the mid-2000s bubble, and the lower you climb, the less painful the fall, right?

Well, at least in theory.

 

Number of listings down 7 weeks in a row... down 110 this week

11/2/2019
The amount of listings went  DOWN 110  since I checked last Saturday. I just checked and there were 7205 on Saturday 11/2/19 at 6:54 .We were at 6914 on the corresponding date last year, and 4867 on the corresponding week in 2017, We are up 264 listings from the same week last year, and up 2338 from 2017. We were at 6554 on Jan 1 2019, which was the low for the year. The high for the year was 8148 on June 22nd.  .  Listings often go down on the first week of a given month, due to the fact that many listings expire on the last day of the previous month,
DATE                                    NUMBER                 DATE                               NUMBER
      12/29/18  6789
       12/22/18  6850
      12/15/18 6906
      12/8/18 7005
      12/1/18 6941
      11/24/18 7106
      11/17/18 7138
      11/10/18 7080
 11/2/19  7205   11/3/18 6941
 10/26/19  7315   10/27/18 6815
 10/19/19  7433   10/20/18 6657
 10/12/19  7500   10/13/18 6546
 10/5/19  7510   10/6/18 6406
 9/28/19  7515   9/29/18 6279
 9/21/19  7560   9/22/18 6190
 9/14/19 7680    9/15/18 6065
 9/7/19 7669    9/8/18 5932
 8/31/19 7844    9/2/17 5705
 8/24/19  7838   8/25/18 5626
 8/17/19  7832   8/18/18 5408
 8/10/19  7898   8/11/18 5276
 8/3/19 7846    8/4/18 4956
 7/27/19  7948   7/28/18 4769
 7/20/19  8036   7/21/18 4710
 7/13/19  8047   7/14/18 4567
 7/6/19  8015   7/7/18 4512
 6/29/19  8088   6/30/18 4437
 6/22/19  8148   6/23/18 4433
 6/15/19  8098   6/16/18 4411
 6/8/19  8008   6/9/18 4334
 6/1/19  7982   6/2/18 4241
 5/25/19  8055   5/26/18 4204
 5/18/19  7936   5/19/18 4170
 5/11/19  7846   5/12/18 4083
 5/4/19  7723   5/5/18 4085
4/27/19  7719   4/28/18 3999
 4/20/19  7663   4/21/18 4023
 4/13/19  7544   4/14/18 3930
 4/6/19  7432   4/7/18 3865
 3/30/19 7448    3/31/18 3771
 3/23/19  7447   3/24/18 3860
 3/16/19 7404    3/17/18 3841
 3/9/19  7345   3/10/18 3784
 3/2/19  7260   3/3/18 3756
 2/23/19  7342   2/24/18 3752
 2/16/19  7414   2/17/18 3811
 2/9/19  7375   2/10/18 3813
 2/2/19  7303   2/3/18 3787
 1/26/19 7252    1/27/18 3837
 1/19/19  7121   1/20/18 3890
01/12/19  6978   1/13/18 3954
01/05/19  6701   1/6/18 3863
 01/01/19  6554   1/1/18 3808

 

We have been keeping track of available single family listings in Las Vegas, Henderson, North Las Vegas and Boulder City for years. It is a pretty good indication as to the direction of the market. In our 25+ years of selling real estate here in Las Vegas, we have seen the number of listings range from under 3000 to over 22000.  If the number keeps going up, expect prices to stabilize or go down.  Feel free to call us or e-mail us for any of your real estate questions.  

 

Sean and Emily Gunning
Berkshire Hathaway Home Services, Nevada Properties 
702 498-1171 [Sean] Sean@sellingvegas.com 
702 596-1171 [Emily] Emily@sellingvegas.com
www.SellingVegas.com

Read our 160+ 5 star Zillow reviews: here

We saw this article in the Review Journal and wanted to pass it on... part 1

10/30/2019

By Eli Segall Las Vegas Review-Journal

October 27, 2019 - 8:42 am

  

 When Charles Bombard built his house near Henderson Executive Airport more than 20 years ago, he was pretty much in the middle of nowhere, surrounded by open desert and some dirt roads.

There’s still plenty of vacant land near his 2-acre spread, but now developers are pursuing dozens of projects in the area.

“It’s getting nuts out there right now, to be quite honest with you,” Bombard said.

Located at the southern tip of the Las Vegas Valley, the west Henderson area is poised to be blanketed with construction sites. Developers are building, have finished in the past few years or have drawn up plans for a total of at least 36 projects, covering more than 1,000 acres and featuring nearly 6,900 homes, the Las Vegas Review-Journal found.

Big projects include a 600,000-plus-square-foot Amazon distribution center, the Raiders’ new practice center and headquarters, a planned 103-acre mixed-use development, a 54-acre retail plaza with Costco, and machine tool maker Haas Automation’s proposed $327.4 million manufacturing facility.

All told, the dozens of projects would pump hundreds of millions of dollars into a once-sleepy area that was supposed to grow before the economy crashed and lagged other parts of the valley as construction rebounded in recent years.

Of course, just because something is planned doesn’t mean it will get built. Southern Nevada has a long history of real estate investors pitching big ideas and never following through. But the pile-on has turned west Henderson into a heated spot for new apartments, housing tracts, warehouses, retail centers and other projects.

Around 12,600 people lived in west Henderson at the start of 2019, though over the next 30 years the population is expected to reach 63,000, according to city spokeswoman Kathleen Richards.

Spacefinders Realty owner Eliot Alper, whose office is next to the Henderson airport, sees the construction every day. He deals with increased traffic from trucks and other vehicles, calling it a “horrible mix.”

He also didn’t expect things to develop so quickly.

“This has shocked me that it’s all of a sudden grown so fast,” he said.

Projects flooding the parkway

 

 

‘Kind of overlooked’

The 30-plus projects are in or near an area bordered by St. Rose Parkway to the north, Volunteer Boulevard to the south, Las Vegas Boulevard to the west and Seven Hills Drive to the east. Nearly all of them are in Henderson, with a few in unincorporated Clark County.

“It’s just mind-boggling that … all of the stars have aligned at one time,” said American West Homes founder Larry Canarelli, who owns land nearby on Las Vegas Boulevard and is developing a project in west Henderson.

The Raiders’ much-hyped football facility, under construction on Executive Airport Drive near St. Rose, has put a spotlight on west Henderson. But developers gave mixed responses as to whether its arrival has spurred other projects. They offered plenty of reasons for the activity, including the area’s proximity to Interstate 15, the Strip, McCarran International Airport and communities like Inspirada.

The area is also closer to Southern California than the warehouses of North Las Vegas. Some real estate professionals said that improves the odds that inbound truckers can drop off their products and get back before they have to take a rest period.

Moreover, its infrastructure is expanding, and as other parts of the valley get built out and more congested, west Henderson still has land — something any developer needs.

“That’s the hottest area of town right now,” Henderson economic development manager Ken Chapa said.

The area wasn’t entirely open desert before the current building boom — it already had the M Resort and the Lion Habitat Ranch, among other things — but it wasn’t supposed to be as undeveloped as it is now.

M Resort developer Anthony Marnell III said this month that it was never a question of if west Henderson would grow, but when. More than a decade ago, when he was developing the hotel-casino, people figured a “tremendous amount of homes” would be built nearby, giving the M a big base of local customers.

 

Volume 0%

 

But like practically everywhere else in town, big ideas there fell through. During the mid-2000s bubble, developer Bill Plise set out to build City Crossing, a 126-acre project with hotels, luxury homes, retail space and offices near the Henderson airport. It was never built, and both the project and Plise went bankrupt.

Marnell, who lives in the area, noted that “nothing happened” for years in west Henderson after the economy tanked. It was quiet, with “For Sale” signs scattered about on desert parcels.

Construction has gained momentum in Southern Nevada over the past several years. But west Henderson is farther from the Strip than other areas and has “been kind of overlooked,” said Panattoni Development Co. partner Doug Roberts, who has been building industrial projects in the area.

One of the first big projects there after the Great Recession was a FedEx Ground facility. It opened in 2014 but wasn’t followed by much right nearby until the past few years.

“It’s taken over four years to get the traction we have now,” said Colliers International broker Dan Doherty, an industrial-property specialist.

We saw this article in the Review Journal and wanted to pass it on ....part 2

10/30/2019

Secluded feeling fades

Bombard, the longtime resident, has mixed feelings about all the development. The area has somewhat lost its secluded feel, he said. He now hears sirens and semi-trucks. But he is happy to see the valley growing and the economy on strong footing.

He can even see the Raiders’ facility taking shape from his house.

The Raiders bought a 55.6-acre plot from the city of Henderson last year for around $6 million — half the appraised value — and held a ceremonial groundbreaking in January. The team is scheduled to move to Las Vegas from Oakland, California, next year.

Raiders senior vice president Don Webb, who oversees construction of the practice facility and the 65,000-seat Allegiant Stadium, said the discounted land in Henderson was “certainly an inducement” to build there, but it was one of several factors.

He noted Raiders personnel have a nearby housing stock to pick from, and the site did not have to be cleaned from prior use. Plus, it was purchased from one seller, a less-complicated deal than buying parcels from multiple landowners.

It’s also across the street from Henderson Executive Airport, which caters to private jets and features, among other things, planeside limousine service.

Warehouse boom

Industrial buildings are some of the most popular projects in west Henderson. Among the newer businesses, grocery chain Smith’s operates a distribution center there, and bread maker Turano Baking Co. has an outpost.

Developer Jeff LaPour, who built an industrial project next to the Henderson airport and plans to build another a few miles away, said he caters mostly to local and regional tenants. Companies may not service that part of the valley, he said, but it’s a convenient location for the people who run them and live nearby.

Brass Cap Development has four industrial projects in the pipeline in the area, partner Jason Kuckler confirmed. He said the higher-profile ventures nearby are expanding west Henderson’s roads and utility service, making it feasible for other developers to follow.

He also said Brass Cap is getting lease proposals for its various projects and is looking to build more.

A possible reason builders and tenants are looking south:

Developers have been flooding the valley with warehouses, and according to Colliers’ Doherty, industrial pockets are “becoming extremely congested.”

Allegiant Stadium, for instance, is being built next to a mostly industrial area. With the venue expected to hold dozens of events annually, that part of town will become “increasingly congested in an unpredictable way,” said Matter Real Estate Group partner Jim Stuart, whose firm is developing an industrial project in west Henderson.

‘Out on the fringes’

Nevada West Partners, one of the biggest apartment developers in the valley, is building three rental projects in west Henderson and has drawn up plans for another, comprising more than 1,600 units total.

Martin Egbert, a managing partner, said his group typically needs about 15 acres or more for a project, and there aren’t other areas closer in with that much land.

“We kind of have to be out on the fringes,” he said.

In many ways, west Henderson still has a rural feel. Bombard said his home relies on a water well, a septic tank for sewage and a propane tank for gas.

He isn’t thrilled to see development coming closer to his house, but if someone wanted to buy his place and build an industrial park, he wouldn’t be mad about it.

People have asked if his home is for sale. For the right price, he said, everything is.

Supersized plans

In west Henderson, a few projects are bigger than others but for now exist only on paper.

Businessman Alan Sauvage announced in late 2017 that a zoning change allowed him to build more than 2,900 residential units, a 250-room hotel and up to 670,000 square feet of office and retail space.

His group aims to break ground on the 103-acre project in mid-2020, according to Colton Sudberry, president and CEO of project partner Sudberry Properties.

Also, the Henderson City Council in February approved selling 279 acres of city-owned land south of the airport for nearly $27.4 million to Haas Automation owner Gene Haas.

Haas has unveiled plans to develop a 2.3 million-square-foot facility for his company, as well as buildings that would be leased or sold to others. He envisions completing the Haas facility in 2022 and the other portions by 2032, city records show.

Peter Zierhut, Haas Automation’s vice president of outside operations, said Henderson is a more affordable place for workers to live, Nevada is a “better state for us as far as taxation goes,” and the proximity to Haas’ California headquarters is “very convenient for us.”

The company hopes to break ground in the spring of 2020, he said.

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