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Old 11-26-2008, 10:08 AM
 
1 posts, read 2,634 times
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Hi-
We will be closing soon on our Sun City Mesquite home. We absolutely love the area.

Does anyone know the status of this Del Webb community? WHen we first started looking at this community over 1 year ago it seemed much more active. Given the state of the economy, and only 15% of the homes built/sold, we are starting to think that we may be buying in a development that will never get completed.

Thanks.
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Old 11-26-2008, 11:13 AM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 33,310,539 times
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Quote:
Originally Posted by nevadacat View Post
Hi-
We will be closing soon on our Sun City Mesquite home. We absolutely love the area.

Does anyone know the status of this Del Webb community? WHen we first started looking at this community over 1 year ago it seemed much more active. Given the state of the economy, and only 15% of the homes built/sold, we are starting to think that we may be buying in a development that will never get completed.

Thanks.
Pulte/Del Webb will likely finish the development. The worst that is likely to happen in these may reduce the size of the senior portion...Pulte has done that before. Note however that the central facilities are sized to a given community and it is unlikely Pulte would risk the fallout if that changes dramatically.

It may however be a while. Active senior communities certainly suffer some in a large economic downturn...and that is what we have.
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Old 11-29-2008, 12:16 AM
 
115 posts, read 233,202 times
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We have been exploring Active Adult Communities throughout Nevada and Arizona. One thing we have noticed is the home prices have not taken much of a hit, compared to the surrounding communities. Any thoughts on this?
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Old 11-29-2008, 09:50 AM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 33,310,539 times
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Quote:
Originally Posted by wizfourfam View Post
We have been exploring Active Adult Communities throughout Nevada and Arizona. One thing we have noticed is the home prices have not taken much of a hit, compared to the surrounding communities. Any thoughts on this?
Note that I am an RE Agent who works very heavily in the age restricted communities.

In general those communities that were building heavily during the 2004 to 2007 runup took a heavy beating. In Las Vegas that was Sun City Anthem and Sun City Aliante. Anthem began with a 15% price per SF increase over Sun City Summerlin...it now goes 15% less. The existing Sun Cities also did not go up nearly as fast as the rest of Las Vegas and therefore fell less far when the down came.

Both Anthem and Aliante have exceptional buys available on occuasion.

There are some in Sun City Summerlin also but more scattered and generally fixers. The expensive stock in Sun City Summerlin moved very little...than again it also went up very little.
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Old 11-30-2008, 12:04 AM
 
115 posts, read 233,202 times
Reputation: 96
Thank you for your insight Olecapt. It is nice having an insider to answer my questions, still trying to figure out the real estate market in the SW all while watching MY home's value hit the dumper....
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