[ram2110]

I have been looking for homes in las vegas area, specifically in henderson. Found this new community called Inspirada. DOes any of you heard f it. I liked the concept of the master planned community. but I am little concerned the community has not been developed yet Is it good to invest in such areas. What would happen if the community fails to develop in few years? PLease let me know before making any wrong decision.

[Tiger Beer]

I've been curious about that place as well.

[davidtexplore]

After much deliberation, My wife and I purchased a home in Inspirada about a year ago. Here are my honest opinions:

Pro's
Despite what many think, its actually a great location with easy access to much of the south end of they valley. I work on the corner of Sunset and Dean Martin, and my commute is a traffic free 15 minutes. My wife works in downtown henderson (Water St.) and her commute is 20 minutes

Of the 120+ residences in the community so far, I know of only 1 rental, and 1 foreclosure. I think its fair to say that Inspirada is owner occupied

Sidewalks everywhere, quick walk to the 7-acre park, paved 1 mile trail on the east end of the property between Inspirada and Anthem. Very close to Black Mountain and Sloan Canyon.

Grounds maintenance and landscaping very good

No complaints about neighbors or neighborhood in general

Lots of land for future development that has been prepped with sewer and utilities

Cons
HOA and LID will significantly add to your monthly expenses

Toll Brothers and Meritage have stopped building

Inspirada will probably not be built out to the original plans or anytime soon

Lots of land for future development

Builders have changed floorplans to be more economical (This is everywhere in valley though)

Possible better value in a distressed property


Overall are we are very happy with our home and feel that we got a good value. But.... In retrospect.... our timing could have been better. I estimate that we have about $10K - $15K in negative equity.

If it where me today and had a budget of about $250K, I would seriously look at a distressed property in the Green Valley Ranch area south of the 215.

[olecapt]

The essential problem is that there is no way to tell what happens next.

KB continues to build solo pretty much. The rest have quit...likely cannot get the financing to build.

Focus is belly up.

So all the grand plans are up in the air. And there are actually very few constraints on how the land is used in the end. I would be very concerned about things like very high density homes or condos appearing where large homes were supposed to go. Developers in these circumstances willl inevitably try to increase density.

Note that it may come out all right...but it will likely be ten years before you know that.

One suggestion I will make. The neighbors all need to get together and form a neighborhood association. The HOA won't do it. You need a neighborhood association. And you might start trying to get $5 a month from everybody until you build a pool of 15 or 20 grand. That is the lawyer money. Hopefully you never spend it but you always make it clear. Try to do anything bad to Inspirada and you will end up in court if you get it through the municipality.

Works wonders.

[007 license to sell]

Originally Posted by ram2110

I have been looking for homes in las vegas area, specifically in henderson. Found this new community called Inspirada. DOes any of you heard f it. I liked the concept of the master planned community. but I am little concerned the community has not been developed yet Is it good to invest in such areas. What would happen if the community fails to develop in few years? PLease let me know before making any wrong decision.

When your looking at purchasing in master planned communities you should make sure your going to live there a long time. Especially one like Inspirada since it is going to be years before it will realize it's potential.
Here is some information that may be helpful in your decision making.

At a housing seminar last week they listed the top 10 builders and communities :Top 10 Communities (January-June 2009)CommunityClosingsAverage price1. Mountain's Edge Las Vegas220$216,3732. Providence Las Vegas143$226,2403. Inspirada Henderson118$229,0274. Summerlin Las Vegas112$427,4935. Anthem Mesquite83$266,8416. Rhodes Ranch Las Vegas65$222,4027. Madeira Ranch Henderson63$348,7918. Log Cabin Ranch Las Vegas55$319,4499. Nevada Ranch Las Vegas40$133,80610. Anthem Henderson36$329,348

Top 10 Builders (January-June 2009)BuilderClosingsAverage price1. DR Horton425$224,0272. Pulte/Del Webb282$275,0003. KB Home249$203,3864. Lennar183$221,5675. Richmond American167$202,5816. Woodside114$279,6147. Pardee92$309,7598. Meritage77$221,2629. Kimball Hill71$22138210. Ryland69$231,936

I hope this is helpful

[Aqua Bliss]

Hi 007, the first part of your list:

At a housing seminar last week they listed the top 10 builders and communities :Top 10 Communities (January-June 2009)CommunityClosingsAverage price1. Mountain's Edge Las Vegas220$216,3732. Providence Las Vegas143$226,2403. Inspirada Henderson118$229,0274. Summerlin Las Vegas112$427,4935. Anthem Mesquite83$266,8416. Rhodes Ranch Las Vegas65$222,4027. Madeira Ranch Henderson63$348,7918. Log Cabin Ranch Las Vegas55$319,4499. Nevada Ranch Las Vegas40$133,80610. Anthem Henderson36$329,348

Is this new homes only or closings for both new and resales?

[olecapt]

That list is new homes only

[007 license to sell]

Originally Posted by Aqua Bliss

Hi 007, the first part of your list:

At a housing seminar last week they listed the top 10 builders and communities :Top 10 Communities (January-June 2009)CommunityClosingsAverage price1. Mountain's Edge Las Vegas220$216,3732. Providence Las Vegas143$226,2403. Inspirada Henderson118$229,0274. Summerlin Las Vegas112$427,4935. Anthem Mesquite83$266,8416. Rhodes Ranch Las Vegas65$222,4027. Madeira Ranch Henderson63$348,7918. Log Cabin Ranch Las Vegas55$319,4499. Nevada Ranch Las Vegas40$133,80610. Anthem Henderson36$329,348

Is this new homes only or closings for both new and resales?

This is the list of the top 10 new home communties, since you were looking in Inspirada I thought you would want what the other new communities were doing.

Buying in a new home community you want to make sure that it's mostly built out. There is a higher foreclosure rate in New home communities due to the large number of would be investors that came in.

check out the foreclosure rate in the area that your interested in and you will know if you want to purchase there due to the fact foreclosures are still driving prices down.

[Exit12Drummer]

Olecapt is correct in his thinking that the Inspirada Development Agreement is going to be re-worked between the Consortium (primarily KB) and the City of Henderson. However, he is completely wrong with his notion that they are going to attempt an increase of density. This is what they actually should do but the public builders will in fact unwind the new-urbanism design guidelines and attempt to lower the overall density of the project to a traditional 6 to 8 unit per acre nightmare.

Density is a good thing and, if designed properly with the right amenities, will actually enhance property values and overall standards of living for the community. For the record, I am part of a group that owns 83 acres in the defunct towncenter portion of the project.

[olecapt]

Originally Posted by Exit12Drummer

Olecapt is correct in his thinking that the Inspirada Development Agreement is going to be re-worked between the Consortium (primarily KB) and the City of Henderson. However, he is completely wrong with his notion that they are going to attempt an increase of density. This is what they actually should do but the public builders will in fact unwind the new-urbanism design guidelines and attempt to lower the overall density of the project to a traditional 6 to 8 unit per acre nightmare.

Density is a good thing and, if designed properly with the right amenities, will actually enhance property values and overall standards of living for the community. For the record, I am part of a group that owns 83 acres in the defunct towncenter portion of the project.

You are misquoting olecapt. He suggests that areas of lower density high end product may end up higher density. But mixed areas and public areas may also be sacrificed. They will tend to go back to building what they are used to building...The also will shy away from mixed areas. Take them commercial or residental.

Self defense by the residents is the only hope if they are looking for a good outcome.

I remain a skeptic on the "urban" trend though. I flatly think it a loser in the SW. Too late. The community is simply too diffuse and will remain oriented to the automobile....whether we like it or not.