We have just released for direct purchase and download from our website the latest issue of our highly regarded Las Vegas Finished Lot Report. This report gives the best possible window into the supply of finished and partially finished lots in the Las Vegas valley. In a market like ours, where the supply of land is extremely limited and has and will continue to directly affect costs at every level of the industry, knowing where the available lots are and who owns them is paramount.
So what is a "finished lot"? We difine this as being "building permit ready." Wet and dry unilities are to the lot, the lots are graded, and the streets/curbs/gutters are installed. They are ready to "go vertical". One thing that differentiates Volume 9 from most of the previous issues is the fact that the pace of the new home segment has picked up substantially. Over the past few years we saw many projects that were shuttered or stalled at some point in the development process. That is no longer the case. For the most part, if a builder has a piece of land and has started moving dirt, we can safely assume those lots will be finished in the very near future, especially on "smaller" projects.
A major change starting with this report is the introduction of the two new major Masterplans in the valley, Skye Canyon in the Northwest which will be moving dirt shortly, and Cadence in Henderson which has just begun selling recently. These two long awaited projects will be interesting to track as they progress in the coming months. We think Lennar's Heritage Active Adult community in Cadence is particularly interesting due to the minimal competition in that segment presently (Although Shea Homes' Ardiente has done well and Toll Brothers is also entering the fray with their own future community, Regency at Summerlin).
Another great feature of the Finished Lot Report is that it not only includes a 50+ page .pdf file breaking down the lot supply by submarket, builder, and Masterplan, as well as including relevant raw land transactions over the past year, but it also includes a Google Maps/Earth compatible file with every project mapped for an easy visual breakdown of everything included.
Overall, the Las Vegas Finished Lot Report Volume 9 is another great tool for Builders, Investors, Bankers, Brokers, and anyone looking for a competitive advantage in the Las Vegas market. Download the report today!