Recently, Mira Villa condominiums received approval from Fannie Mae PERS, which stands for project eligibility review service, and Veterans Affairs.
The two approvals make financing available to homebuyers through any major lender. A guideline to lending institutions, the approvals signal that risks have been mitigated and a stringent audit has been completed by Fannie Mae.
“Condominium financing has been scarce in Las Vegas,” said Tera Anderson, sales director at Miravilla and vice president of Nexus 30, the listing brokerage for the community. “Mira Villa has been audited and evaluated on a number of criteria including sales activity and success; HOA (homeowners association) stability; and owner-occupancy to renter-occupancy ratios.”
During the past year, Mira Villa was able to offer financing options through local lending partners Wells Fargo and Nevada State Bank because of an earlier condominium project manager approval through Fannie Mae, Federal National Mortgage Association.
The PERS and VA approvals surpass the CPM criteria.
“Even with buyers who do not wish to finance, these approvals carry a significant weight,” Anderson said. “They say, in no uncertain terms, that the community is of the utmost stability — something that is relatively uncommon in this market, primarily because of owner vs. renter occupancy ratios.”
An overwhelming percentage of Mira Villa buyers are choosing to live at Mira Villa because of the lifestyle and ease of ownership that it affords. These owner occupancy numbers were a critical variable in being awarded approvals from Fannie Mae.
She said sales have outpaced the Las Vegas-area market since the community’s relaunch in 2011. In March, the final inventory was released for sale ahead of the projected timeline. Since then, 21 of the 44 units in that offering have been sold or are under contract, accounting for more than $10.5 million in sales.
The community is a 15-minute drive from the Strip in the heart of Summerlin. It has access to the Summerlin Parkway and Interstate 15.
Mira Villa overlooks the TPC Las Vegas and Angel Park golf courses in The Canyons village. It is near shopping, Summerlin Hospital Medical Center, the Academy of Nevada Ballet Theatre, Red Rock Canyon National Conservation Area and casinos.
The community has 21 midrise buildings constructed of concrete and steel with emphasis on sound abatement and fire protection, Anderson said.
Amenities include panoramic golf-front, city, mountain and Strip views; private terraces; private two-car garages; private elevators; pool, spa, fitness center and outdoor barbecue areas.
A relationship with JW Marriott Las Vegas Resort & Spa offers owners discounted prices on resort amenities.
Mira Villa owners also benefit from a relationship with TPC Las Vegas, which includes discounted rounds of golf and other amenities.
For more information, call 702-254-4647 or visit www.livemiravilla.com.