Archive for January 29th, 2010

New Expectations and Realities for Las Vegas Homes

Friday, January 29th, 2010

Data recently released by the National Association of Home Builders correlates with the field experience of our Las Vegas real estate team as we address the preferences of our clients. For the first time since 1982, the average size of a newly completed home actually fell, as in smaller. This is clearly a response on the part of builders to imperatives for post-meltdown buyers to be more practical, rather than insisting on more and more of everything. We didn’t find this “smaller is better” trend surprising since so many Las Vegas clients over the past year have expressed the desire to down-size their living space. Let’s face it, almost everyone seems to be living in a new financial and psychological reality, and it’s only natural that this would find expression in the homes people choose to buy. Closely related to the issue of size, we are also seeing more concerns expressed and attention focused on the energy efficiency of various properties on a comparative basis. As much as the “green scene” would like to attribute this to enhanced environmental awareness, the anecdotal evidence suggests that the main concern is more basic and old-fashioned, the size of the monthly energy bill.