Las Vegas master plans popular
Q: I know most Las Vegas homes are in a homeowners association. I have found some older homes that are not in an HOA. Can you tell me the advantages of living in a master-planned community?
A: Las Vegas, like in many other ways, is different from other major metropolitan cities. Most cities, especially established ones like San Francisco, Boston or Miami, have vibrant downtowns, proximity to beaches or coastlines and gorgeous views. They are anchors of the locations, and real estate tends to be more expensive the closer you are to them and cheaper the further removed you get.
Although our Las Vegas Boulevard of beautiful lights is a formidable world attraction, real estate tends to get more expensive the further you get from the Strip and closer you get to the mountains.
One of the major reasons is the creation of master-planned communities. The landscape (topography) of our valley is pretty similar whether you are in North Las Vegas or in the heart of Summerlin. Then why is the price per square foot more than double in Summerlin? It is because Summerlin is a master-planned community with an HOA. These homeowner associations provide regulation of what will be built in and around the community. They also attract homeowners who are willing to pay an additional monthly fee in order to live in the community. What follows is infrastructure including parks, restaurants, business, etc., and it becomes a domino effect.
In closing, living in an HOA community offers a plan for protection and the fee to live in it acts as a commitment for those things.
— David J. Tina, corporate broker/owner of Urban Nest Realty and GLVAR President-Elect 2016
