weather icon Clear

Only 21 vacant residences remain at Spanish Palms

The Federal Reserve in December raised interest rates for only the second time in a decade, which means now is an especially good time to buy a home before historically low mortgage rates also begin to rise. And with only 21 homes remaining at Spanish Palms, a gated condominium community at 5250 S. Rainbow Blvd., there has never been a better time to make home ownership a reality.

“Rising home rates, although happening slowly, are the buzz in the housing industry, and with so little inventory left at Spanish Palms, we urge potential homebuyers to act quickly and take advantage of the still low interest rates,” said Uri Vaknin, a partner at KRE Capital LLC. The company, in partnership with Dune Real Estate Partners, purchased Spanish Palms in 2013 as DK Las Vegas.

“Spanish Palms offers a resort-inspired lifestyle and a strong sense of community unrivaled by other Las Vegas condominium communities in the same price range. Prices start as low as $138,900, and several financing programs, including Veterans Affairs-, Federal Housing Administration- and Fannie Mae-backed loans, make buying a home possible for many who otherwise aren’t in a position to buy. It’s no wonder there are so few homes left at Spanish Palms.”

According to the National Association of Realtors, interest rates are at an all-time low but are expected to rise to 4.4 percent by the end of 2017. Although the S&P CoreLogic Case-Shiller Index revealed Las Vegas exceeded its average home price peak reached in July 2006, Las Vegas will remain well below its all-time high, according to David Blitzer, a chairman of the Index Committee at S&P Dow Jones Indices.

“Spanish Palms is home to residents from all walks of life, from first-time buyers to those looking to enjoy their golden years,” Vaknin said. “Our floor plans are often just as spacious as many single-family homes, and even offer one- and two-car attached garages, a rarity in most condominium communities. Best of all, our homes offer a carefree lifestyle thanks to minimal maintenance and extra security that makes it easy to travel.”

Spanish Palms continues to be one of the fastest-selling condominium communities in Las Vegas, and it features such enhanced amenities as a fitness studio, private clubhouse for gatherings and parties, and two resort-style pools. The centerpiece of the community is Central Park, which features lush, well-manicured landscaping with barbecue grills, making it ideal for picnics and entertaining; plenty of shaded areas; a playground; putting green; gazebo; and pet park complete with an agility course. Located near the center of the valley, Spanish Palms is just minutes from the Strip and McCarran International Airport, and it is surrounded by popular restaurants, retail centers and neighborhood services.

Spanish Palms offers three floor plans ranging between 744 square feet and more than 1,131 square feet, and with homes starting from $138,900. For more information, call 702.719.6100 or visit SpanishPalmsLV.com. The sales center is at 5250 S. Rainbow Blvd., No. 1055, and is open Monday–Friday from 10 a.m. to 6 p.m.,; Saturday, 10 a.m. to 5 p.m.; and Sunday from noon to 5 p.m.

Don't miss the big stories. Like us on Facebook.
Navy veteran purchases home One Las Vegas

Tsapatoris has found her new dream home at One Las Vegas, a twin, 20-story condominium community on the south end of Las Vegas Boulevard.

Summerlin offers active-adult communities

According to the National Association of Home Builders, the 55-plus housing market is showing continued growth as baby boomers age, with a projected 66 million Americans expected to be over the age of 65 by 2025.

Trilogy to hold Memorial Day sales event May 24-27

Trilogy in Summerlin is a Las Vegas 55-plus community. This resort lifestyle community has it all: beautiful homes, an amazing Resort Club and an enviable lifestyle.

Pardee to open Cirrus neighborhood

A VIP pre-sales event is now underway at Pardee Homes’ new Cirrus neighborhood in southwest Las Vegas off Jones Boulevard south of Cactus Avenue.

Tanager clubhouse opens in Downtown Summerlin

The Howard Hughes Corp., developer of Summerlin, which includes the 400-acre urban core of Downtown Summerlin, announces the opening of the leasing office and clubhouse for Tanager, Downtown Summerlin’s newest luxury apartment community, along with the commencement of pre-leasing for Tanager’s 267 luxury residences. The first residents are expected to start moving in this summer.

Ranch house in the sky perched on south Strip

Calling all Raiders fans, aspiring chefs, entertainment lovers, empty nesters and local Las Vegans looking to right-size your life: One Las Vegas has just the answer. This gorgeous twin-tower high-rise on the south Strip not only boasts a Las Vegas Boulevard address, it offers a 19th floor masterpiece — residence No. 1922 — a 2,857-square-foot “ranch house in the sky” that checks off all the boxes for your new luxury home.

Pardee opens town homes in southwest valley

Evolve’s four plans range from 1,599 square feet to 1,923 square feet, each with a private back patio and two-car garage. The gated neighborhood includes a dog park and swimming pool for residents and their guests. Prices start from $299,990.

Ascaya introduces accelerated design program

Ascaya, a Henderson luxury community, has partnered with award-winning residential design/build firms Blue Heron Design Build, studio g Architecture/Luxus Design Build and Sun West Custom Homes on new desert contemporary custom residences available through an accelerated design program.

Eight Summerlin neighborhoods near closeout

Eight Summerlin neighborhoods are nearing sellout, each with fewer than 20 homes remaining. Long regarded as a premier place to live, raise a family and now play — especially with the recent additions of Las Vegas Ballpark, home of the Las Vegas Aviators Triple-A baseball team and City National Arena, practice facility of the NHL’s Vegas Golden Knights, Summerlin is home to more than 100,000 residents and spans 22,500 acres along the Las Vegas Valley’s Western edge.