Articles Tagged "Buying a house"

Your priorities can change as you get older. Along with your priorities, housing needs will change as you age.

Buying a home at any age, and in retirement is always a possibility. 

The following are some factors our brokers recommend considering as you look at Las Vegas homes for sale during your retirement.

Your New Cost of Living

If you're buying a home, your cost of living may change. For example, an older home may need more repairs. A condo or home in a community with a homeowners' association will come with HOA fees. And if you're from another state or community, you'll need to investigate the cost of living where your home is located. For example, Nevada has one of the lowest tax rates in the country since it has a very low property tax rate and no personal income tax.

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For decades, 20 percent was the traditional benchmark for down payments on a purchase of Las Vegas homes for sale, but today's real estate market has changed. According to data from the National Association of Realtors, approximately 60 percent of homebuyers make a down payment of six percent or less.

Do you still see the down payment as an obstacle to your dream of homeownership? Use these helpful saving tips that have been successful for clients of our brokers.

1. Determine a Target Number
   Once you've established a price range of homes within your means, calculate different down payment amounts to see your options. Prequalification, through a lender or online site like NerdWallet, is a great tool to help. 
   
   
2. Create a Budget
   Every goal needs a specific plan. Make a complete list of expenses, then set a reasonable timeline, so you know how much to put away each month. Breaking the total down into smaller amounts is also psychologically less intimidating.
   
   
3. Automate Savings
   Technology makes it easy to save money painlessly. Set up a payroll transfer or other automatic transfer program like Digit to deposit money in a savings account before it ever gets in your hands.

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When exploring Las Vegas homes for sale, there are many things to consider. Your dream home will be in the perfect location, have all of the amenities, and fit your budget. While you're deciding how much you can afford for your home, it's important not to forget about closing costs. 

Our real estate agents recommend that prospective buyers save up 2 to 5 percent of the home's price to cover closing costs. This can include a wide variety of expenses, including (but not limited to) the following.  

• Mortgage Application Fee - Your mortgage application fee is what the bank charges for processing your application. It's typically between $200 and $400. You may need to pay this ahead of time or at closing.
  
  
• Appraisal Fee - An appraisal is required to ensure the property value is enough to secure the total amount of the loan. The cost is usually between $100 and $400.
  
  
• Inspection Fee - Before you can purchase a home using financing, a professional must check the house for damage or other problems. A home inspection typically costs between $100 and $400.
  
  
• Title Search and Title Insurance - This is a service performed by a title company to ensure no other parties have a legal claim to the property. The search is usually between $150 and $200, while title insurance typically costs about 1 percent of the property's price.
  
  
• Recording Fees - Recording fees are what the local government charges to record your purchase transaction. They usually run between $40 and $60.
  
  
• Transfer Tax - When you purchase a new (to you) property, you'll owe transfer taxes. The cost will vary depending on where the home is located. 
  
  
• Legal Fees - You aren't required to hire a lawyer, but doing so can help ensure your interests are represented in the transaction. This can cost anywhere from $300 to $600, depending on the attorney.
  
  
• Homeowner's Insurance - Most lenders require you pay the first year of your homeowner's insurance premium upfront. Sometimes you'll pay your insurance company directly while at other times you'll pay this cost at closing.
  
  
• Private Mortgage Insurance (PMI) - If you make a downpayment of less than 20 percent of the home's value, you'll most likely have to carry private mortgage insurance. The cost will vary depending on the home's value, your credit, and how much you put down. On average, it runs about 2.5 percent of the mortgage balance.
  
  
• Prepaid Interest - The lender may require you to pre-pay a partial month's interest if you close on a date other than the first of the month.
  
  
• Points - Points are an optional expense that allows you to reduce your mortgage interest rate. 
  
  
• Paying Your Closing Costs - Within three days of submitting your loan application, your lender will provide you with a "good faith estimate." This document outlines all of the closing costs. 

There are several ways buyers can choose to pay their closing costs. This includes paying cash, rolling the costs into the mortgage loan, and taking out a separate loan. It's also possible to negotiate having the seller or the lender cover some of the closing costs. 

Are you ready to find your dream home in the Las Vegas area? Contact us today to get started. 

It wasn't that long ago when people couldn't wait to move out of their parents' homes, get married, and raise a family of their own in their new homes. While that's still happening all over the United States, a new trend seems to be developing: multigenerational households. For anyone who's looking at Las Vegas homes for sale, this might be one trend to consider getting in on. 

Did you know that as many as 64 million Americans are currently living in these types of homes? It's remarkable, and it's a trend that doesn't appear to be going away anytime soon. 

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Owning a home is a significant responsibility that takes more than merely having the funds to cover the mortgage payment. When you're looking at Las Vegas homes for sale, it's crucial that you thoroughly account for the maintenance and costs that go along with the property. Don't be surprised when the bills come rolling in! The following are five "hidden" expenses that are easily overlooked by home buyers in Las Vegas.

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Las Vegas homes for sale have everything you and your family are looking for, even the furry members of your family! Once you find the home of your dreams and moving time is upon you, you'll need to do some planning to make relocating your pet a success. Being prepared can make things less stressful for everyone and help moving day go smoothly.

• Start early
  The earlier you can start the moving process the better for your pet. Some pets handle change better than others. You'll be making big changes to their current environment by packing, and doing that a little at a time will make it less disruptive. You'll also be introducing them to a new neighborhood and surroundings. You may have to get them used to staying in a travel carrier or riding in the car. And you'll probably be disrupting their routine with travel and moving day. Giving them time to adjust to all the change can help avoid major problems.

• Keep your cool
  Dogs and cats can pick up on their owner's stress levels, so keeping yours in check is a necessity. If you don't, your pet may get agitated, over excited, aggressive or otherwise act in a way that isn't going to make things easier.

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First-time home buyers are often surprised to find that they are on the hook for more than just their down payment when purchasing Las Vegas homes for sale. For these buyers, closing costs can come as an unwelcome last-minute surprise, and in some cases, coming up with the funds to pay them on short notice can be difficult. So how to avoid such a situation? Here's what you need to know to be clued in on closing costs, courtesy of our real estate agents.

What are closing costs?

Closing costs are fees associated with the home buying process. These fees are collected at closing, which is when buyers sit down to formally take possession of their new property, with title to the property legally transferred from seller to buyer. Getting to the closing table is a process that involves a number of services along the way, and fees paid at closing are distributed to those who provide those services.

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Do you have friends or family members who have recently purchased and moved into their first home in Las Vegas just in time for the holidays?  Odds are, they could use help getting settled into their new digs. Their new home presents the opportunity for creative and thoughtful gift giving. From tool boxes to dishes and glassware, our real estate agents bring you this list of the perfect holiday gifts for the first-time home buyer.

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It's almost closing day, and you've reached the top of the mountain, so now all that's left is planting your flag, grabbing your keys, and moving into your new home. Well almost.  Your closing day doesn't have to be stressful when you prepare ahead of time.

Our real estate agents love helping clients cross the home-buying finish line.  We've got six tips to help you prepare for closing day.

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Working out your home-buying budget before you begin shopping for your new home is essential. After all, nobody wants to waste time touring homes for sale in Las Vegas only to discover they cannot afford to buy their dream home. So what goes into working out an accurate home-buying budget? Budgeting for the down payment is the big-ticket expense home buyers tend to think of first, but there are other out-of-pocket expenses you're likely to face during the home-buying process. Our REALTORS® have created this list of some of the additional fees you should include in your home-buying budget:

1. Inspection Fees
   When you find the house that you want to be your new home, you will need to schedule at least one professional inspection to ensure that you have a reliable assessment of its condition. This is done after you have made an offer on a home and that offer has been accepted by the seller and is an essential step in protecting your interests. It is also often required by lenders to protect their interests. A general inspection of the home is the first step. If potential problems are found, other inspections may be necessary, such as a once-over from a termite specialist, for instance, or a perhaps sewer inspection. Depending upon your particular circumstances, you may spend anywhere from a few hundred to a thousand dollars or more on inspections.
   
   

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If you've been thinking about buying one of the Las Vegas homes for sale, it's a great time to relocate. Art, culture, fabulous shopping, dining, and plenty of nightlife fill our city. Family-friendly fun and recreational activities are unlimited. You'll also find beautiful homes in quiet neighborhoods that fit your lifestyle. 

If you're planning a visit to tour homes in our Las Vegas, our real estate agents recommend that you check out the Stratosphere Casino, Hotel & Tower. It's a full entertainment complex with food, shopping, dining, and classic Vegas fun. When you visit the top of the Stratosphere tower, you'll get an exciting view of Vegas you can't get anyplace else. 

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By now, we've helped enough people find Las Vegas homes for sale to learn that, for first-time home buyers, the process is often stressful, confusing and overwhelming. We're here to help. 

If you ask an experienced home buyer what they wish they had done differently the first time around, chances are the answer would be, "a lot." So let's go over some of those first-time home buyer lessons now – so you don't have to learn them the hard way.

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While you're on the lookout for Las Vegas homes for sale, keep in mind that you're not just looking for a great house. You're also looking for a great neighborhood.

Evaluating a neighborhood can be a lot more complex than evaluating a house, but there are several factors that make great neighborhoods stand out. Our real estate agents want to let you know what to look for as you're exploring neighborhoods in search of your dream home. 

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Buying a Las Vegas Home? Use These Tips to Make a Winning Offer

Las Vegas is a hot real estate market. Home prices are up, interest rates are good. Existing homes sell quickly. If you're shopping for Las Vegas homes for sale and find one you love, you probably won't be the only person ready to make an offer.

Our real estate agents know the Las Vegas community. We realize a seller's market can make it difficult to find the right home at the right price. You can still buy the home you want if you Make Them an Offer They Can't Refuse. These buyer tips can help.

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5 Tips to Get Your Finances in Order

For most people buying a home is the biggest financial transaction of their lives. So there is good reason getting your finances in order tops everyone's list of first steps. But where do you start? Here are some tips to guide you in the right direction.

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With resorts, casinos, fabulous shows, and prime shopping venues, Las Vegas excitement draws visitors from around the world. But it's not just a big adult playground. If you keep family safety in mind as you tour Las Vegas homes for sale, you'll find the perfect Vegas neighborhood to live, work, and raise your family. 

Our real estate agents believe there's a Vegas neighborhood with a family-safe environment that's right for you. To assist you in evaluating a community before you make a commitment, we offer "6 Ways to Tell If Your New Las Vegas Neighborhood is Safe."

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Las Vegas is famous for its casinos, shopping, nightlife, and wedding chapels. 

Our real estate agents live and work in Las Vegas and have helped numerous newlyweds find their dream homes.  When you're ready to start your search for Las Vegas homes for sale, we'll be here for you.  In the meantime, consider these ten tips for Las Vegas newlyweds buying their first home.

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You've patiently searched Las Vegas homes for sale, and you have fallen in love with a fixer-upper in neighboring Henderson. Your future dream home fits just right--the right square footage, the right number of bedrooms and bathrooms, and located conveniently right outside the hustle and bustle of Las Vegas. Perfect!

However (cue antagonistic music), you cautiously wonder if the fixer-upper is your "Yellow Brick Road" to a nice home equity nest egg, or could it lead down the path to a money pit? Listening to the trustworthy and wise advice from our REALTORS®, you create a plan--a scrapbook--of the page-turning journey to your fairy tale dream home in Henderson.

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Do you work for yourself and want to buy a house? You're in luck! While it's not always as easy to get financed when you're self-employed, it's not impossible either especially if you know where to start. More than 10 percent of all workers in the United States are self-employed, and lenders and sellers aren't ignoring them completely. Our real estate agents are here to help all home buyers in Las Vegas and that includes those who work for themselves. You just have to counteract potential disadvantages by planning ahead, coming prepared, and documenting everything.

Before you commit to a lender or make that first bid, here are some simple steps you can take to improve your chances and reduce your risks:

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Buying a home is one of the biggest financial decisions you will ever make. If you're planning to buy a home in the new year, give yourself the gift of some solid preparation first. Before you start looking at Las Vegas homes for sale, it's important to prepare your finances for the home-buying process. 

At Wardley Real Estate, our real estate agents are happy to help first-time buyers become homeowners, but we know every buyer can benefit from polishing their financial strategies. Whether you're new to buying a home or you want to upgrade your real estate in 2018, we'll help you reduce risks and find the right home for you. You can get started by taking these steps now:

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Tips for Buying Your First Home in Las Vegas

If you're a first-time home buyer, it's easy to imagine why you'd want to settle down in Las Vegas. It's a family-friendly town, with diverse art and cultural experiences. Tourism and entertainment industries offer exciting opportunities for work and play. When you tour Las Vegas homes for sale, you'll see traditional and contemporary styles with mountain views and desert-inspired landscapes.

Our real estate agents understand that you may be relocating due to a job transfer or career change. Some employment transitions may preclude you from getting mortgage approval, while others won't. To help you understand home-buying obstacles and solutions, we offer our First-Time Buyers Guide: Buying a Home with a New Job.

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Use These Tips to Scout Out Your Perfect Neighborhood 

Looking for a home in Las Vegas? As you compare different listings, you probably have a lot of factors to consider, but ultimately your new location has to be the right place for you and your family. Our real estate agents can help you scout the most promising places to live, but here's a hint: it helps to start with a buyer-friendly neighborhood. After all, location is everything, and you want to make sure your new home checks off all the right boxes: comfortable, safe, and a wise place to make a long-term investment.

Here are five of our favorite signs that a Las Vegas neighborhood is buyer-friendly:

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Let's face it: no one wants thirty years' worth of debt. Interest adds up, and mortgage payments take up a big chunk of your family's budget each month. However, when you sign on the dotted line, you don't actually have to spend the next three decades locked into that contract. At Wardley Real Estate, our real estate agents know how important it is to take control over your future finances, from moving into a new home to moving up your payoff date. That's why we want to share some of our favorite ways to pay off your mortgage early.

While you're looking at homes in Las Vegas, make sure you know how to plan ahead and make smart mortgage choices that will speed up the repayment process. These tips are a great place to start:

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Great Santa Run to Benefit Opportunity Village

The holidays are upon us, and it's no surprise that Las Vegas, a city that always knows how to celebrate in style, offers plenty of ways to get in the Christmas spirit. Our real estate agents are always on the lookout for fun things to do in the Las Vegas area, and we just wanted to let you know that the Las Vegas Great Santa Run—one of our favorite holiday events of the year—is right around the corner.

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Henderson, Nevada is a unique, exciting community with a variety of entertainment options, a booming luxury real estate market, and appealing properties to fit every budget. When you're shopping for homes in Henderson it really helps to do your research about the city's many neighborhoods. Our REALTORS® have you covered, with a preview of the top 10 neighborhoods in Henderson.

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There's never much of a chance that you'll run out of things to do in Las Vegas. The city offers an endless supply of fun and entertainment year-round, and that's never truer than at Halloween. 

From haunted houses and Halloween parties to spooky shows and festivals, this season is one of the best times to visit Las Vegas. We asked our real estate agents in the Las Vegas area for some of their favorite Halloween attractions, and the results did not disappoint.

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Whether you are in the market now or thinking of buying a home in the future, open houses are a fun, informative way to educate yourself on the particulars of buying or selling a home. You may think that there's no point in going to open houses if you're not buying or selling, but there are plenty of reasons to check them out.

Here are a few reasons to clear your Sunday and check out some of our homes for sale in Las Vegas, even if you're not buying a house right now.

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When you begin your search for Las Vegas homes for sale, consider buying a house that includes smart home technology.  Smart home technology is a term that refers to homes that have appliances, lighting and security systems as well as heating and air conditioning units that are connected and operated remotely by the owner through a smartphone, tablet or other electronic device. 

Here are five reason to consider smart home technology for your home in Las Vegas.

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Las Vegas might be better known for neon lights and slot machines than for hiking trails and fishing holes, but you don't have to go far from downtown Vegas to find yourself in the wilderness. Many visitors are starting to discover what those lucky enough to make their homes in Las Vegas already know—that the Las Vegas area offers an endless supply of outdoor adventures.

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Open House Guide:  Dos and Don'ts for Home Buyers

A real estate open house is the ultimate in low-pressure marketing. It's a professional event presented as a social occasion. Some sellers serve refreshments, which might make it seem like a party, but be on your best behavior. Even though an open house feels like a Sunday afternoon social, the owners mean business. If you're serious about buying a house, they are serious about selling their home to you. Their open house is an all-access pass they hope will lead you to a "yes" decision.

Our real estate agents believe that an open house is critical to the process of buying a house. It offers a range of benefits for everyone involved.

• As a potential buyer looking for homes in Las Vegas, you inspect properties at your own pace, with or without your realtor tagging along.
• The home seller's realtor maximizes their efforts by bringing together multiple buyers at once.
• The seller gets feedback and learns what they need to do to sell their home.

No matter how social it feels, an open house is a business event. It's important to follow the Dos and Don'ts for Buyers on the Hunt.

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Moving across the country is one of the most expensive types you may ever make. If you're relocating from the East Coast to a new home in Las Vegas, then making the most of your moving budget is essential. Our real estate agents have created this list of cross-country moving tips to make your move more affordable. 

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Casinos rely on trendy restaurants to attract travelers and diners with homes in Las Vegas. Restaurants meet that challenge with world-class chefs, complex cuisines, and engaging ambiance.

Our real estate agents live and work in Las Vegas and know the best places for dinner--not to mention live. Here is a list of our 10 favorite Las Vegas restaurants.

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Location, Location, Location in Las Vegas

When you think of Las Vegas, your mind inevitably flashes: The glamour of "The Strip." However, when you dig deeper into the real estate market, opportunities come calling! 

Much of the Strip is in "Paradise, Nevada." It holds the University of Nevada, Las Vegas and McCarran International Airport, too. When locals talk Las Vegas, they mean a much larger area.

When it comes to finding the perfect Las Vegas home, this tidbit is only the start. Off the Strip, you'll find neighborhoods for everyone – the key is picking the perfect one for you. Let's take a closer look.

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At Bonnie Springs Ranch, the Wild West is still alive and well, complete with horses you can ride and wooden saloons where you can grab a stiff drink. A combination of theme park and hotel, restaurant and living museum, this sprawling desert getaway is a real ranch with a replica of a real 1880's frontier town. If you're planning a day trip or a long weekend vacation, here are some reasons to consider this gem in Blue Diamond, Nevada:

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Managing Your Home Buying Budget

Buying a house is one of the biggest decisions we will make in our life--it has such a huge impact on our present and future. So establishing a solid budget is great for helping you narrow down your options, but it's also one of the most important steps for avoiding buyer's remorse. Basically, you don't want to find yourself house poor.

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Las Vegas is famous for its bright lights and eye-catching shows, so you shouldn't be surprised by our passion for the Fourth of July. If you're looking for homes in Las Vegas this summer, you'll find out what we mean soon enough. Our vibrant city has many show-stopping traditions, but one of our favorite seasonal celebrations happens high above the Strip: our annual Independence Day fireworks shows.

As a Las Vegas resident, you'll have your pick of hot spots to enjoy the show. Our real estate agents have created this list of their favorite places to watch fireworks in Las Vegas on the Fourth of July:

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Updated 1/28/2020

Are you interested in finding Las Vegas homes for sale in the best neighborhoods? Las Vegas is a great place for young professionals and families to begin the next chapter of their lives. It's quickly becoming one of the nation's fastest-growing cities for employment in STEM industries. Beyond the glitz and glamour of The Strip, there are dozens of communities designed to meet every need and desire you could imagine. Let's look at 10 top Las Vegas neighborhoods to buy a home. 

1. Summerlin
   If you're looking for a fabulous home in Las Vegas, look to Summerlin first. This area is the third-ranked best-selling master-planned community in the country. With six of the nation's top-ten homebuilders developing these homes, the only element of this community rivaling its fantastic living spaces are the amazing shopping, dining, and exploring within feet from your front door.  
   
   
2. Henderson
   Perfect for men and women who desire a fast-paced, amenity-rich lifestyle of a major city without the distractions of Las Vegas tourism, more than 300,000 people call Henderson home. As one of the safest cities in the state, it also has a higher median household income level than the US average.
   
   
3. North Las Vegas
   Homes in North Las Vegas benefit from an active and bustling community where there's always something exciting, relaxing, and unforgettable going on. With plenty of world-class golf courses, hiking trails, and aquatics, you'll never run out of enjoyment. With a robust population of 243,000, it also features a fast-growing economy, easy access to local universities, and plenty of transit options. 
   
   
4. Primm
   Less than a half of an hour south of Las Vegas, Primm homes offer dual proximity to the best attractions in Southern Nevada and Eastern California. With unrivaled shopping, fine dining, and unique attractions within minutes, the Gateway to Southern Nevada's small population offers small-town comfort and direct access to some of the best vacation destinations in the world. 
   
   
5. Spring Valley
   Just two miles west of the Vegas Strip, Spring Valley homes are popular for those who work in the lively local tourism and hospitality industries. It features a large park, a vibrant Asian-American community, and a number of famous residents such as Jonathan and Drew Scott of the hit show Property Brothers on HGTV.
   
   
6. Southern Highlands
   Only 10 miles from The Strip, the Southern Highlands community stretches 2,300 acres and features an award-winning, members-only golf course designed by Robert Trent Jones. With homes ranging from the cozy high 100,000s through multi-million-dollar properties, there's a space for people of all budgets and lifestyles in Southern Highlands. 
   
   
7. Boulder City
   The safest city in Nevada, according to the National Council for Home Safety and Security in 2019, Boulder City homes are situated in the midst of some of Nevada's most striking natural beauty. About 26 miles south of Las Vegas, Boulder City is a tight-knit community of just under 16,000 that's well known as a great place to retire. It also offers great golfing, its own municipal airport, and close proximity to the historic Hoover Dam.
   
   
8. Sun City
   Sun City is a retirement community catering to owners aged 55 and older. With a small population of 25,000, this peaceful community is noted for its beautiful architectural features. Nearly every home in this neighborhood is a single-story residence, and the community features enjoyable amenities such as four pools, five friendly community centers, and tennis and racquetball courts.  
   
   
9. Desert Shores
   Desert Shores is a master-planned community situated in the stunning foothills of northwest Las Vegas. With 28 unique residential neighborhoods surrounding a community lagoon, playground, basketball court, and more, this area has everything from quaint condos and single-family homes to large custom-designed properties secluded behind private gates. 
   
   
10. Sheep Mountain
    Sheep Mountain is named for the gorgeous Sheep Mountain Range resting north the Las Vegas skyline. Reaching a maximum elevation of over 9,000 feet, this community is known for its stable housing market, sunny weather, and high per-capita income. 

Want to find out more? Our REALTORS® will be glad to help you. Contact Wardley Real Estate to find a home in beautiful Las Vegas, NV. 

Are you thinking about moving to Henderson, Nevada? Most likely, you know it's about 16 miles southeast of Las Vegas but did you know Bloomberg Businessweek named it, "One of the Best Cities to Live in America"? Henderson has plenty of sunshine, mild winters, terrific schools tons of restaurants, and it's minutes away from Las Vegas. But, you might not know these ten unusual things about Henderson.

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An Insider's View of Living in Las Vegas

If you're considering a move to Las Vegas, you probably have a lot of questions about living in Nevada's largest city.  When most people think of Las Vegas, they think of it as the Entertainment Capital of the World ... America's gambling capital ... or Sin City.  But there is so much more to Las Vegas than its nightlife on the Strip.  

Life as a Las Vegas local is something totally different.  Our team of REALTORS® at Wardley Real Estate know relocating to a new city comes with its fair share of questions; so, created this list of "10 Reasons Why You'll Love Living in Las Vegas" to give you an insider's view of our city.

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