Harmony Homes executive says owning costs less than renting

"If you have been hearing that the Las Vegas market is starting to make a comeback, it's true," said Geoff Gorman, vice president of sales for Harmony Homes.

"There will never be a time again that we have such low prices and interest rates on new homes in Southern Nevada. In fact, mortgage interest rates are currently at their lowest in 50 years. As the market begins to rebound, prices and interest rates do, too."

Gorman said for less than the cost of a monthly lease, Las Vegas renters can become homeowners with mortgage payments starting as low as $462 per month. This payment is based on an Federal Housing Authority 5/1 ARM with an initial rate of 3.5 percent fixed for the first five years only and an APR of 3.256%. Payment includes principal, interest and mortgage insurance only. Rates, terms and fees are subject to change without notice.

"With our low prices and these rates, it actually costs less than renting a comparably priced home," Gorman said. "What are you waiting for?"

Gorman said large down payments are also a thing of the past, with Harmony Homes requiring just 3.5 percent down to purchase a home. "This makes home ownership possible for many more people," he said.

"If you are in a position to buy a home, you could have a low monthly payment for a spacious residence that is all your own."

According to Gorman, the combination of low interest rates and low pricing can help renters save money by purchasing a new home. With average apartment rental leases at $850 per month, a 1,462-square-foot home in Capistrano costs less than the average rent payment for a monthly mortgage. Home prices in Capistrano start at $126,000.

The residences in Capistrano offer second-story laundry rooms, expanded walk-in closets and optional rooms. Options like a downstairs bedroom, master retreat or loft are available per plan. "These are very flexible floor plans, allowing you to really design your home to suit your life," Gorman said.

Another Harmony Homes neighborhood is Bella Fiore at Lake Las Vegas. This collection of luxury homes has floor plans ranging from 2,230 to 4,265 square feet with prices starting at $299,000.

"And right now we are waiving the lot premiums, so you can even own a home on the golf course in a resort community for less than you pay now to live in a rental. It wasn't that long ago when home prices were two to three times what they are now, and now that the market has stabilized they will slowly start to increase," Gorman said.

At several Harmony Homes neighborhoods, residents also receive access to amenities. In its Capistrano collection, amenities include landscaped common areas, a neighborhood park, children's playground and community pool.

Harmony Homes is selling homes in 15 Las Vegas neighborhoods including Harmony Pointe, Harmony Springs, Harmony Heights, Harmony Sands, Stone Haven, Alpian Meadows at Mountain's Edge, Rivendell at Mountain's Edge, Avalon at Vista Cielo, Laguna at Vista Cielo, Capistrano at Vista Cielo, Las Rosas, Summit at Sunrise Highlands, Talus at Sunrise Highlands, Bella Fiore at Lake Las Vegas and Ladera Terrace at Summerlin. Information on all Harmony Homes neighborhoods can be found online at harmonylasvegas.com.

Prices start in the mid $90,000s with home sizes ranging from 1,462 to 4,035 square feet.

Harmony Homes sales offices are open 10 a.m. to 6 p.m. Tuesday through Sunday and noon to 6 p.m. Monday.

To visit the collection at Capistrano, take Interstate 15 north to Craig Road and exit left. Turn right onto Losee Road and turn left onto Winder Avenue. For more information on Capistrano at Vista Cielo, call the sales office at 405-8300.

To visit Bella Fiore at Lake Las Vegas, take U.S. Highway 95 south to Lake Mead Drive and head east. Continue on Lake Mead until you see Lake Las Vegas to your left. Enter the gate and follow the signs to Bella Fiore. For additional information on the collection and its incentives, call the Bella Fiore sales office at 629-2200.