News & Updates

Nevada Builder Selling Homes Despite Poor Market


Yesterday, Channel 8 Action News in Las Vegas interviewed Amy Thill, vice president of sales and marketing for Warmington Residential Nevada. Warmington and its brand new Northern Terrace community in Las Vegas is a standout in the marketplace. Sales have been brisk within our three Northern Terrace neighborhoods and this was news in light of The Commerce Department’s report showing a decline in new home sales. Here is the interview.

Primrose Plan 3 at Claremont

Bedford Plan 2 at Westcott

You can see the original item here.

LAS VEGAS — The housing industry has been one of the biggest drags on Nevada’s struggling economy and new numbers released Wednesday show another drop.

The Commerce Department says new home sales were down 12.4% in July which is the slowest pace ever recorded.

Sinclair Plan 1 at Emery

Nationwide, new home sales are down 30 percent from last year and more than 40 percent since April when that popular $8,000 Home Buyer Tax Credit expired. In southern Nevada, new homes are still in high demand and one developer says they can’t build the homes fast enough.

The Club at Northern Terrace - a multi-million dollar residents-ony recreational facility.

“We see people coming in and they’re ready to buy whether they’re relocating from other parts of the country or they’ve been on sidelines, and now they’re ready and out looking because they know the interest rates being so low is such a positive for them,” said Amy Thill, Warmington Residential Nevada.

The low interest rates equate to lower mortgage payments and that’s a major driving point for people looking to buy.

Thill says there’s also offers and specials luring people in including the Nevada Housing Bond which offers money for a down payment and some developers are offering to pay closing costs.

Terri Bird is moving to Las Vegas from Seattle and is looking for a new home. She says the timing is perfect for her.

“Interest rates being at an all time low, I’ve never seen it in my 20 years of real estate transactions,” said Bird.