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This is a newer planned community in the southeast part
of the valley. It is located at Blue Diamond Rd. and Buffalo Dr. At
least 20 builders are participating in this project. The community is
being built on 3,000 acres and will comprise 12,500 residences when
completed. Over 500 acres of open space will be featured. At the center
will be a 320 acre regional park with baseball fields, multi-use
sports fields and picnic and play areas. A centerpiece of this community
will be a 80 acre western themed park. Also featured will be an American
Indian encampment and a simulated archaeological site where kids can dig
for ancient treasures. 10 builders are now selling at Mountain's Edge,
including DR Horton, Concordia, US Home, Toll Bros, Lennar, Beazer,
Woodside, KB Home, Pardee and Meritage/Perma-Built. Note that other than
the Exploration Park, with 20 acres developed and 80 acres of open
terrain, nothing in the way of the additional parks and amenities have
been started. Some of the projected amenities have been eliminated with
others on hold. Some current residents have complained with respect to
these delays and changes.
Mountain's Edge is currently the best selling planned community in the
Las Vegas area. Just over 6,800 homes have been completed out of 14,500
projected.
| Base prices for free-standing homes as of February 7, 2010
run from $139,490 to $531,975 with home sizes ranging from 1,346 sq. ft. to 4,035
sq. ft. Condos and townhomes range from $144,990 to $229,990
with sizes ranging from 1,345 sq. ft. to 2,502 sq. ft. Resales
for the last 90 days reflect 190 free-standing homes sold
ranging from $95,000 to $478,000 with a median selling price of
around $171,000. Of the 200 properties currently listed, 148 are
represented as short sales or
bank owned/foreclosures.
Resale free-standing homes have a median asking price of $84 per
sq. ft. Tremendous number of sales over the last few months. |
This may be the last
of the planned communities as we are used to them in the Las Vegas area.
Land prices have reached the point that builders have to maximize their
use of land by building more homes on less land. The future will be, in
general, more homes per acre with smaller lots compensated for by common area parks and
other facilities. The elevation at Mountain's Edge ranges from 2,650 ft.
to 2,740 ft. above sea level. |