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How concerned should you be about interest rates?

As the rates begin approaching pre-pandemic levels, they are still going to remain within a record-low margin. Southern Nevada’s 30-year fixed mortgage rate is currently averaging 5.1 percent. The 15-year fixed mortgage rate is averaging 4.2 percent and the five-year adjustable-rate mortgage (ARM) is averaging 3.5 percent. Compared to 15 to 20 years ago, we were seeing rates as high as 8 percent to 10 percent.

How concerned should you be about interest rates?

As the rates begin approaching pre-pandemic levels, they are still going to remain within a record-low margin. Southern Nevada’s 30-year fixed mortgage rate is currently averaging 5.1 percent. The 15-year fixed mortgage rate is averaging 4.2 percent and the five-year adjustable-rate mortgage (ARM) is averaging 3.5 percent. Compared to 15 to 20 years ago, we were seeing rates as high as 8 percent to 10 percent.

HOA won’t do anything about ‘Addams Family’ house

I live across the street from people who live in chaos. The police have been there at least 50 times in 10 years. The house hasn’t been painted since it was new 20 years ago, and it looks like the Addams Family lives there.

Off-grid Palm Springs estate listed for $1.795M

An innovative Palm Springs estate uniquely designed to sustain an off-the-grid and self-sufficient lifestyle has been listed for $1,795,000.

$9M Summerlin mansion purchase tops record month for luxury home sales

Las Vegas and Southern Nevada had a record 218 luxury resales in April, led by a $9 million sale, and a high-profile $3 million purchase in Summerlin by the daughter of the late Los Angeles Lakers owner Jerry Buss.

THE LATEST
Galaxy Park opens in Valley Vista in North Las Vegas

D.R. Horton’s Las Vegas division has announced the opening of the recently completed Galaxy Park inside the award-winning, master-planned community of Valley Vista. Division management, North Las Vegas city officials and distinguished guests marked the opening with a ribbon cutting ceremony May 18.

Downtown Summerlin’s new office building draws law firms

The Howard Hughes Corp., developer of the Summerlin master-planned community (MPC) and its 400-acre Downtown Summerlin, announces two new leases at 1700 Pavilion, a 10-story, Class-A office building under development at Downtown Summerlin. Clark Hill International Law firm will occupy Suite 500 spanning more than 13,000 square feet; and ER Injury Attorneys will occupy Suite 530 encompassing approximately 7,300 square feet.

MacDonald Highlands highrise gets city green light

A $900 million luxury resort-style condominium project within the private guard-gated MacDonald Highlands is on track to begin site work in early June after the Henderson City Council gave the green light.

HOA cannot fine renter for license plate display

If the renter has a current license plate that is lying on the inside window dash, the vehicle would have been properly registered. The association could not fine the renter because the license plate is not on the vehicle.

High-rise resale market remains strong

Led by a $6.5 million cash sale of a penthouse at Turnberry Place on May 5, Las Vegas had its most-ever highrise resales to start the year.

Summerlin offers 26 public, private and charter schools

With 26 schools including public, private and charter facilities, Summerlin offers more educational choices than any other Southern Nevada community, maintaining a focus on education that has been integral to the development of the community since its inception.

REAL ESTATE BRIEFS

More than 50,000 expected to attend first full-scale parade since the pandemic with new additions, return of popular favorites, professional sports teams, record number of giant inflatable balloons and veterans and military groups. The event will be held 9 to 11 a.m on July 4. Escort division commences at 8:30 a.m.

Remodeled Red Rock Country Club home lists at $3.5M

In a luxury segment with limited inventory, putting an aging million-dollar-plus home on the market doesn’t guarantee there’s a buyer, even with such high demand. Buyers, today, want the latest technology, high-end finishes and more open floor plans.