With thousands of new jobs coming up in Las Vegas every month people are moving into this city as never before. As new workers enter the market they need homes to live in. This demand for new homes is driving the real estate market in Las Vegas and keeping it going strong with no signs of it slowing down for the present.

Las Vegas has a high employment rate of 96.5% new jobs are being created every month. Over 5000 jobs are created every month and its fuelling the real estate market which is the nation’s hottest market.

Real estate investors find Las Vegas very exciting as on average homes sell in about 45 days here and homes priced get snapped up fast. House and condo prices continue to rise, setting new records every year. As the job market continues to be strong and new jobs keep attracting workers and real estate market will continue to grow according to the experts.

Just miles from the glittering, glowing and growing city of Las Vegas lies Boulder City. The place came up as home for the workers constructing the Hoover Dam, it is dotted with parks and beautiful homes and sprung out of arid desert. The city radiates small town values and has evolved into homes for retirees, families, artistes and others.

Boulder City overlooks Lake Mead and is minutes away from Hoover Dam. The city does not allow gaming. Parks, pools, and golf courses dot the landscape. 18 golf courses, 11 parks and a public pool are located with in the city.

Despite being a small city Boulder is big on the arts scene. Several cultural and sporting events throughout the year keep the city’s citizens engaged and entertained. The Boulder City Fine Arts Festival, featuring local artists from the surrounding area, classic car shows, the Lake Mead festival of lights are just some of the events that Boulder City plays hosts to.

Ryland Homes is offering unconventioanl home designs at the two its neighborhoods Montage and Travata at West Park in Summerlin.

At Montage the master suite is located on the third level on its own with dual vanities and walk-in closets. Another option offers a studio or hobby room. A third option is having a wet bar in studio.

The homes are priced from the upper $300,000s and are available in five floor plans with two or three story designs. They range from 1,659 to 2,103 square feet with two to four bedrooms and 2 1/2 to 3 1/2 baths, plus options for secluded dens, private studios and extra bedrooms.

All the garages have been designed to have side entrances so the frontage view is free from unsightly garage doors or cars parked in front of them.

A few decades ago this kind of loan was popular. Today it is back in favor. The temporary buydown mortgage allows for an interest rate that is lower than the prevailing interest rate at the beginning of the loan period. Actually the main reason for its revival is ofcourse because many interested homebuyers are finding it almost impossible to qualify for a loan to buy a home.

How is this done? Well, initally it is bought down with a sum of money paid at closing. This makes the loan more affordable for marginal home buyers. This initial cost of the buydown is usually paid by the individual home seller to make it possible for the buyer to qualify for financing, or by a home builder who is marketing new homes, or a corporation that is making extra efforts to accommodate an employee being transferred to a new community.

In a 2-1 mortgage the loan is substantially lower in the first year, then goes up in the second and by the third reaches the prevailing market rate. Today’s lending agencies are actually keeping the interest much lower in the first year and increasing the rate to much higher than the prevailing market from the third year, which will then remain so for the rest of the loan period.

Pardee Homes in North Las Vegas at Prescott Park have attracted a lot of buyers because of a private park within the community that allows residents to spend valuable time together. The park is about 4.5 acres in size and the Reston and Rockwood communities are linked by the park which features a playground, climbing wall, basketball half-court, an open field, amphitheater, picnic benches, barbecue grill, and shade area.

Rockwood neighborhood will have homes ranging in size from 1,596 to 2,917 square feet with three to five bedrooms and as many as 3 1/2 baths. The lots average 4500 square feet and allow for lots of open space around the homes. Rockwood homes are priced in the range of $285,950 to $401,950

Reston homes will be one and two story homes and will have upto 5 bedrooms and 3 baths. Homes are situated on lots that average 6000 square feet in size and homes are priced in the range of $321,450 to $403,950.

Pardee Homes other communities in North Las Vegas include the Springdale and Autumn Ridge in Aliante, Tamarind in Eldorado Highlands, Fiesta at Clayton Place, and San Rafael.

Silverstone Ranch a Pulte Home community is nearing closeout in sales in three of its home collections. Located just outside the city Silverstone Ranch has been very popular among home buyers for its relaxed lifestyle neighborhood set around a golf course. In addition the community offers homes in every price range to meet every budget from entry-level to executives.

Three collection in the Silverstone Ranch are reaching closeout. They are Meriorn, Oakmont and Cypress collections which single family homes in single and two-story designs, and different sizes.

Merion is a two-story Merion plan, size ranges from 1,583 to 1,890 square feet and prices start from $310,000s; Oakmont are single-story home plans, ranging in size from 1,520 to 1,662 square feet and priced from the $320,000s. Oakmont homes feature courtyards. The Cypress Collection offers both single- and double story homes. The homes range in size from 1,881 to 2,665 square feet and priced from the $360,000s.

Some loans called interest-only loans are fairly popular and account for a major share of housing markets in San Diego, Atlanta, San Francisco and many other cities.

What does interest-only loan mean?
The borrower pays only the interest for a fixed period which might range from 2-10 years. So, he doesn’t have to pay up for the principal for this period of time which he can utilise for other purposes like bigger down payments or furnishing the home or other investments. After the fixed period is over the loan becomes like the normal mortgage loan - interest + part of the principal. The payments may go up by more than 50 percent after the adjustment.

This type of loan may sound attractive to many borrowers especially the lower payments initially but you need to really decide if it is really suited to your situation. It is only suited for individuals and families who know how to manage their money well and can invest the money in instruments that bring in better returns than interest rate you are paying. It may not be suited for instance if you need to make these higher payments when you children are starting college. It may put an unneccessarily bigger financial burden on you when you have other committments.

Learn every detail about this loan option before committing to it. Remember this loan is only best suited for people with a great sense of financial discipline.

Good news for home buyers in 2006. The Loans limit has been raised from $359,650 to $417,000, which is the single largest rise since 1980. This giant hike in the conventional loan should a lot of homebuyers to buy that elusive home without having to opt for the higher interest jumbo loans.

A conventional loan is the loan that most homebuyers get when they want to buy a home. This is also the loan that lenders refer to in their advertising for their best interest rates. These new limits are important to lenders as this helps them to peg their interest rates to the stand 30 year mortgages.

According to experts the only buyers who will really benefit from this recent hike will be with higher incomes. According to Freddie Mac and Fannie Mae about 500,000 buyers in high-priced areas such as New York City, Los Angeles, Chicago and Seattle will benefit. The $417,000 mortgage when added to a good down payment should allow the buyers in these areas to get a decent home without attracting the higher jumbo mortgage interest rates.

The Las Vegas over-heated investment housing market is equalising with the out of towners who invested in the last couple of years selling their investment properties more and more Las Vegas residents are moving into owner occupied homes.

The homes were selling at 10 percent and 20 percent above homes of comparable value about 2 years ago are now priced the same as the homes sold in the past few months.

A recent study by the Los Angeles based University of California predicts that the nation’s housing market is all set for a sustained slow down which could result in over 800,000 jobs being lost. But whether this prediction comes true remains to be seen. Meanwhile the Las Vegas real estate market shows little sign of slowing down. Single family homes and condos have actually sold for prices higher than the prices for the previous months. Though the increase levels of inventory compared to sales indicate the market is slowly turning into a buyer’s market.

Horizon Heights is an offering of KB Homes and is located at an elevation of about 2500 feet near Black Mountain in Henderson. Set amidst picturesque landscape the homes have a great view on all sides. Mature trees and landscaping make the place look beautiful.

Homebuyers have a choice of 5 models and 6 floor plans for their ideal home. The homes vary in size from 1,485 to 2,166 square feet. The Vista is single story model measuring 1,533 square feet with two bedrooms, a den, two baths and a two-car garage. The Sunrise model is a two-story model measuring 2,166 square feet with 3 bedrooms, loft, family room and a two-car garage.

The Sunrise model comes with a host of options which allow the home buyers to customise their homes to their requirements. You can choose from a covered patio, a balcony, laundry room and garages set-back a little from the homes. Prices of homes in this neighborhood start from $200,000’s