For residents of Washington, Idaho who are looking for the perfect place to live, they can turn to Cedar & Sage Homes. They can help anyone create their dream homes right in the middle of one of the countrys top outdoor destinations. Theyve helped create a number of communities for people to thrive.

When it comes to luxurious and comfortable living, there is no better development company or custom home builder than Cedar & Sage Homes. They are a premier development company based in Suncadia, Washington and Eagle Idaho. They have a team of highly skilled and experienced staff members who can make anyone's home building experience stress-free and relaxed. They offer turn-key custom living on a streamlined budget and timeline. From acquisition to design and the building process, they will make sure every small detail is taken care of. They have all the tools, equipment, and other resources to deliver amazing results to all their clients.

Cedar & Sage Homes is locally owned and operated. Their mission is rooted in their passion for developing a beautiful and comfortable mountain communities in Suncadia Resort, Tamarack Resort, and the greater Pacific Northwest region. No matter the needs or the preference of each individual client, the skilled people at Cedar & Sage Homes are sure to meet and even exceed them.

The company has established a proven 9-step process to help anyone realize their dream home. And it all begins with planning. This involves a 30-minute introduction to the company and what they are about. It also involves a private consultation with the design team, as well as an initial financial assessment. Next is to get the design approved. A contract will be drawn up, the design created, and all submitted to the DRC. Once approved, then the building can commence.

Cedar & Sage Homes have been responsible for a number of well-loved and respected communities. They recently completed building a luxury line of townhouses in Suncadia Resort. Cle Elum is an incredible little city southeast of Seattle. It's popular among people who love the great outdoors. Tamarack Resort in Idaho is another Cedar and Sage location for building luxury custom homes near the popular Tamarack Resort and Ski areas.

No matter the region of the country, Cedar & Sage has the experience and the expertise to create a wonderful place for people not just to live but to thrive. Suncadia is a perfect example. It is nestled in the Cascade Mountains very close to ski resorts, lakes, rivers with trails that are perfect for biking and hiking.

Media ContactCompany Name: Cedar & Sage HomesContact Person: Dave GintzEmail: Send EmailPhone: (509)350-4885Address:533 E Riverside Dr Ste 102 City: EagleState: ID 83616Country: United StatesWebsite: http://www.cedarandsagehomes.com

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Cedar & Sage Homes can create anyone's dream home without the stress and headache of homebuilding. - Press Release - Digital Journal

MINNEAPOLIS--(BUSINESS WIRE)--Polaris Slingshot, the ultimate three-wheel vehicle for personalization through customization, today announced the winner of its east vs. west build-off between two renowned automotive customizers: The Auto Firm in South Florida and DUB in Southern California. After a two-week fan vote, DUBs blacked-out 2020 Slingshot for legendary drummer Travis Barker has delivered the Best of the Builders honors to the West Coast, besting pop superstar Teyana Taylor and The Auto Firm in South Florida.

Showcasing the Polaris Slingshot in all its glory, the Best of the Builders program celebrated its one-of-a-kind, head-turning style while emphasizing the vehicle as the ultimate canvas of self-expression. To bring this to life, each builder reflected on their clients personality: Barkers all-black, open cockpit concert on wheels, and Taylors head-turning, show-stopping ride with matte grey and aqua-infused paint scheme.

Customizing vehicles have long been a form of self-expression, and today, theres nothing that serves up a platform for personalization quite like a Slingshot, said Chris Sergeant, Vice President of Polaris Slingshot. Were extremely proud and grateful for the opportunity to partner with renowned builders such as DUB and The Auto Firm, both whom truly captured the personalities of their clients with their show-stopping Slingshot designs.

As Barker recently transitioned to only owning black cars, DUB was tasked with delivering a truly blacked-out design from front to back, inside and out. DUB utilized a combination of matte and gloss black paint and wrapped select parts with Barkers signature graphics. A custom 24-by-10-inch rear wheel along with air ride will demand attention at every stop light and turn heads on every street corner. Barkers seats were custom stitched with his iconic F embroidered into the headrest. And of course, fittingly for a musician, DUB packed as much into the sound system as possible, adding speakers to the exterior and center console between driver and passenger.

As clean and sleek black is, it can be very challenging only working with black, said Myles Kovacs, President of DUB. But our job as a build team is to bring through our clients personality and we couldnt be happier with the finished result.

Squaring off head-to-head, DUB and The Auto Firm are two of the most accomplished and recognizable groups within custom car culture each with a wide-range of customization experience and unrivaled familiarity with the Slingshot platform.

With the builds complete, and the winner selected, fans can visit Slingshots social media (Facebook, Instagram, Twitter) to view all the incredible content from each build.

For more information on Polaris Slingshot, visit PolarisSlingshot.com, or follow along on social media: Facebook.com/PolarisSlingshot, @Slingshot on Twitter and @PolarisSlingshot on Instagram. For information on Slingshot rental locations, visit Adventures.Polaris.com.

About Polaris Slingshot

Polaris Slingshot, a wholly-owned brand of Polaris Inc. (NYSE: PII), continues to define the category through style, driving experience and community with our three-wheeled autocycle. With AutoDrive and manual transmission options, an open cockpit, side-by-side seating, 5 drive height and a 2.0-liter 4-cylinder engine, Slingshot comes in a variety of models that are sure to make a statement. Step into a Slingshot for an adventurous and unrivaled experience. Learn more, visit slingshot.polaris.com.

Slingshot is a three-wheeled motorcycle. It is not an automobile. It does not have airbags and it does not meet automotive safety standards. Three-wheel vehicles may handle differently than other vehicles, especially in wet conditions. Always wear a DOT-approved full-face helmet and fasten seatbelts. The Driver may need a valid motorcycle endorsement. Drive within the limits of the law and your own abilities. Read, understand, and follow your owners manual. Never drive under the influence of drugs or alcohol. Vehicle modifications and use of non-authorized accessories may void the vehicle warranty. Unless noted, trademarks are the property of Polaris Industries Inc. 2020 Polaris Industries Inc.

Excerpt from:
Travis Barker's Custom Slingshot Delivers 'Best of the Builders' Title to the West Coast - Business Wire

Located in desirable Webster Park, this handsome 4 bedroom, 2 bath home is full of artisanal elements and plenty of rooms to work from home and accommodate your virtual learners. Gleaming hardwoods welcome you inside to a large living room with beamed ceiling, wainscoting, built-in cabinets, and inglenook...the perfect, intimate warming place for the coming winter, which is forecast to be a long, cold one. Adjacent to the living room is a cozy office, as well as a suite of rooms that make a perfect first floor master. The dining room also features a beamed ceiling and plate rail and flows to the kitchen with 42" cabinets, quartz tops, and stainless appliances that opens to the breakfast room and family room with picture window overlooking the back yard. It wraps to a T-staircase, adjoining the living room and up to 3 bedrooms, 2 with sleeping porches. The back stairs are accessed in the original breakfast nook, now being used as office space. You won't want to miss this one!

View Listing

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3 of the Most Expensive Homes for Sale in the Park Hills Area - Daily Journal Online

by Richard Mize

Published: Thu, December 3, 2020 1:04 AM Updated: Thu, December 3, 2020 1:19 AM

Skyrocketing lumber prices have added $10,000-$15,000 on average to the cost of a new house, so a reduction in duties on Canadian imports has local as well as international impact.

The rapid runup in prices this year caught builders by surprise "with each builder managing the price increase in different ways," said Andrew French, president of the Central Oklahoma Home Builders Association. "The most common responses across the board that I've seen are builders are either raising their home prices or letting already-poured slabs sit in anticipation of lumber coming down."

Prices won't come down enough based on the tariff reduction alone, said Chuck Fowke, chairman of the National Association of Home Builders and a custom homebuilder in Tampa, Florida.

"The Commerce Department's action to reduce duties from more than 20% to 9% on softwood lumber shipments from Canada into the U.S. is a positive development, but more needs to be done," Fowke said in a statement this week. "Tariffs have contributed to unprecedented price volatility in the lumber market in 2020, leading to upward pressure on prices and harming housing affordability for American consumers.

"The U.S. needs to work with Canada to end the tariffs and achieve a long-term, stable solution in lumber trade that provides for a consistent and fairly priced supply of lumber."

The tariff dispute became acute as the demand for houses, and therefore lumber, soared even as the coronavirus hit and stayed. The lowest mortgage interest rates on record, aided perhaps by a renewed appreciation for domestic life due to stay-at-home orders and the work-from-home movement, fueled demand for both new and previously owned homes.

Unexpected demand came just as supplies of lumber and other building materials grew scarce and supply chains were disrupted due to plant shutdowns, then slowdowns related to social-distancing requirements, said Jim Schuff, co-owner of Vesta Homes in Moore.

It could have been worse both for homebuilders and homebuyers, said Caleb McCaleb, owner of McCaleb Homes in Edmond.

Read more:
Your new house could cost less if the U.S. and Canada keep working through their lumber trade dispute - Oklahoman.com

Tech stocks have been all the rage in 2020. And for good reason, with the tech sector delivering more than 30% in gains and tech companies providing many of the tools that have kept millions of people working during the coronavirus pandemic.

But investors shouldn't ignore a boring industry like homebuilding; after all, many of those tech companies count on millennials as their most important employees. On the Nov. 6 edition of "The Wrap" onMotley Fool Live, host Jason Hall shared some data that lays out the prospects for the housing industry in stark detail, while Motley Fool and Millionacres contributor Tyler Crowe adds some valuable context. In short, the next decade could be a mega-boom for homebuilders as they work to meet the massive pent-up demand and make up for a lost decade of new home construction.

Transcript:

Jason Hall: I'm going to do a quick screen share here. This is contextually, I think, it's really helpful to demonstrate what's going on with housing right now. This chart, I don't know if I need to blow this up a little bit. If you guys, could you see that OK?

Deidre Woollard: Yes, I can see it now.

Tyler Crowe: There it is. U.S. housing, my favorite chart.

Hall: This chart is huge. This goes all the way back to 1970. You see that really sharp drop, the big roller coaster or the big hill on the roller coaster there, that was the global financial crisis, that was the housing crisis in 2008.

Then we spent a decade, that big decade of ramp up, when new home construction was well over a million homes. Consistently, new home construction was well over a million a year for a decade, basically. All this inventory was added. Everybody's heard the stories about people with a second-home, with two mortgages on the second home, and then a third home with three mortgages on it, and they were all zero interest balloon notes that were after 10 years were going to come due.

Anyway, that's what happened, is we had all this inventory and home builders stopped building houses. Look, it dropped to half a million houses a year. That didn't even meet up with replacement of lost properties. We were actually every year for, I think it was like maybe four years, at least three years there. The United States ended each year with less home inventory than it started with. It was that bad.

Then when they started building again, in 2012 or so, they weren't building entry-level homes. Because guess what? You remember that whole millennials are living in their parents' basements, all that stuff. Yeah, that's the story, so home builders spent seven or eight years gradually increasing how many homes they were building every year.

But they were still building custom homes. They weren't building affordable entry-level housing, and that really didn't start until a few years ago when you saw, I think Meritage Homes was the first top 10 home builder that announced, "We're making entry-level our focus," and they started shifting all of their land buying to like 70%, 80% of their new land, was lots they were going to develop entry-level housing. Now, that makes up almost all of their business. LGI Homes, since they started, that's been their entire business.

The point is, you look at that big long tail chart, and we're just now getting to the point of where new home construction (is back to where it) has averaged over the past 50 years, and there's a hell of a lot more Americans now than there were back in 1970. To Tyler's earlier point, there's a lot of old houses out there. So it's just the dynamics if you think about with where the housing market is. The point of this is, yes, it's cyclical. We're going to see these ups and downs, these peaks and valleys from quarter-to-quarter and even year-to-year.

But there's still a massive amount of unmet demand, pent up demand and minimal inventory to meet that demand. I'm going to get out of the screen share here. Go ahead, Tyler.

Crowe: I was going to say that chart also is a great indication of when we talk about this year. Oh my, God. Housing has just been incredible. Are we ever going to see something like this again? Go back and look at that chart. New housing stats of 1.4 million. For the past 50 years was at, excluding this decade, was a down year. That was not a great new housing starts kind of weak that you'd be typically seeing in the United States.

Hall: I'm sharing it again here and I'm adding a little context, US population.

Crowe: You have this decade-long period of just under-build, and it's really coming to roost now more so than ever. I'm 36 years old. I'm considered the first wave, or the oldest wave of the millennial generation, which is the largest population demographic in America.

Hall: Tyler, I think we call you oldlennials.

Crowe: (Laughs) That actually sounds very appropriate for me. But this age cohort that goes from about 36-37, all the way down into the early 20s. This is the age group that is coming into buying homes now over the next 10 years. It is a large group, there is low inventory. We always talk about low inventory. It's been that way since 2018. Unless we see a massive boom in construction, we're going to be almost perpetually in this low inventory cycle for who knows how long?

Go here to read the rest:
The Huge Trend Behind the Most Important Housing Chart Investors Might Ever See - The Motley Fool

This home theater project started off as a room that called for a 75-inch TV, a Sonos amplifier and four in-ceiling speakers. After meeting with the client and builder Jaava Homes, integrator Elite AV asked if it could come up with a concept that would outfit this space with something the family wanted to use on a daily basis, Justin Dohman recalls, and the results proved the inquiry was well worth it. In fact, the end result was so fantastic that the install won a 2020 CE Home of the Year Award for Best Home Theater Under $25K!

Elite AV capitalized on its savviness and creativity to deliver something extra as Dohman refers to this theater build.

On the video side, using a JVC LX-NZB 3,000-lumens projector paired with a Screen Innovations 133-inch Slate screen helped Elite AV overcome the windows in the room while still providing a bright and clear picture for movies and games.

Another hurdle Elite AV handled is that all of the electronics for this home are located inside a central AV rack. This posed a problem as the homeowner had three gaming systems that he wanted to use. Elite AV used an AVPro Edge HDMI switch to toggle between the gaming systems, which reside in custom cabinetry located inside the rack that feeds the Marantz SR6014 AV receiver.

On the audio front, the integrator delivered a Dolby Atmos surround system that sounds absolutely phenomenal, Dohman says, with the Marantz AVR driving seven Origin Acoustics speakers and JL Audio e112 subwoofer.

You couldnt tell this was a project done on a budget. We were given a budget we had to meet to make this a reality as the entire home had to be outfitted, Dohman adds.

Beyond the AV is where Elite AV really added some fun and functionality to the theater. The integrator used Colorbeam color-changing lighting and an epiXsky star ceiling in the theater. The lighting is fully controllable via a Control4 keypad at the room entry, and a Control4 Neeo remote makes commanding the AV simple.

The combination of epiXsky and Colorbeam really sets this room apart, Dohman says. Anyone who has seen it has the same response when they walk in wow!

With four zones of lighting, you can match your teams favorite colors or keep everything a single color, he adds. The epiXsky ceiling is custom made to fit the ceiling coves perfectly, and they also add acoustic treatments making the room sound even better than it already did.

Plus, the combination of hiding speakers behind the screen and creating a movie theater feel when the lights go down keep with the houses modern design and provide a true cinematic flair.

See the rest here:
Lighting, Stars Transform Budget Theater Build into Award-Winning Install - CEPRO - CEPro

Gaithersburg, Maryland-based TWP Enterprises, the largest independent regional building materials company serving Maryland, D.C. and Northern Virginia, will be acquired by Raleigh, North Carolina-based building materials supply company BMC Stock Holdings Inc. for an undisclosed sum.

Gaithersburg, Maryland-based TWP Enterprises, the largest independent regional building materials company serving Maryland, D.C. and Northern Virginia, will be acquired by Raleigh, North Carolina-based building materials supply company BMC Stock Holdings Inc. for an undisclosed sum.

TW Perry, founded in 1911, has six area lumber yards, retail stores, a design studio, a custom millwork operation and a truss manufacturing facility. The company sells lumber, building supplies and materials, doors, windows, hardware and power tools to professional remodelers and custom homebuilders.

The company has $200 million in annual sales.

We are impressed with their pro remodel business, highly diverse customer base and value-added product mix, which is aligned with BMCs core strategy. This addition will expand our portfolio in the growing Northern Virginia, Maryland and D.C. markets, said Dave Flitman, president and CEO of BMC, in a news release.

The acquisition is expected to be completed in December.

Earlier this month, TW Perry announced its acquisition of Hyattsville, Maryland-based building materials supply company Peoples Supply Co. Inc. Peoples Supply was founded in 1932.

BMC Stock Holdings is one of the nations largest building materials supplier, with $3.6 billion in annual sales across 18 states.

Like WTOP on Facebook and follow @WTOP on Twitter to engage in conversation about this article and others.

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2020 WTOP. All Rights Reserved. This website is not intended for users located within the European Economic Area.

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Gaithersburg building supply company TW Perry to be acquired - WTOP

AFTER dominating at the HIA Perth Housing awards last month, Giorgi also outshone the competition at the 2020 HIA Colorbond Steel State Housing Awards, collecting seven gongs.

Their stylish build in City Beach was crowned WA Home of the Year and also won Custom Built Home and Residential Interior Design awards.

In addition, the Osborne Park-based builder received awards for Apartment Complex and Apartment of the Year for a South Perth development and Innovation in Housing and Outdoor Project for a magnificent Caversham residence.

More: The HIA Perth Housing Award winners

HIA WA executive director Cath Hart said Giorgi were well deserving of their achievements.

We saw Giorgi walk away from the Perth Housing Awards with an abundance of accolades and now theyve replicated that success at the WA Awards, which is a huge effort given the competition they were up against which included winners from all over the state, she said.

They have a highly reputable team who have been behind some incredible homes this year, and they now have the honour of being among the contenders at next years Australian Housing Awards which is an outstanding achievement in itself.

Ms Hart also congratulated all the winners and finalists, saying they should be extremely proud of the work they were able to produce in a year that presented many challenges.

Golden Key Award for WA Display Home of the Year was won by Grandwood By Zorzi for a striking home in Dalkeith, while the GreenSmart Sustainable Home was won by McAullay Builders for a clients home in the Mid-West suburb of Waggrakine.

WA home of the year: Giorgi, City Beach

Affordable housing project: Promenade Construction, Nollamara

Apartment complex: Giorgi, South Perth

Apartment of the Year: Giorgi, South Perth

Custom built home: Giorgi, City Beach

Golden Key for WA display home of the year: Grandwood by Zorzi, Dalkeith, Dalkeith

Excellence in service (small builder): joint winners: Character Living and Dorrington Homes

Excellence in service (medium builder): Nulook Homes

Excellence in service (large builder): Blueprint Homes

Excellence in showroom display: Summit Homes Group, Myaree

Framed housing: Arklen, East Fremantle

GreenSmart sustainable home: McAullay Builders, Waggrakine

HIA professional small builder/renovator: Ultimo Constructions

HIA professional major builder: Summit Homes Group

Innovation in housing: Giorgi, Caversham

Liveable home: Weststyle, Swanbourne

Outdoor project: Giorgi, Caversham

Project home: VM Building, North Perth

Renovation/addition project: AMG Home Builders, West Leederville

Residential building designer: Humphrey Homes, Mosman Park

Residential interior design: Giorgi, City Beach

Small commercial project: Assemble Building Co., Cloverdale

Small lot housing: Resonate Homes, Bunbury

Spec home: Averna Homes, Como

Specialised housing: Inspired Homes, Treeby

Townhouse/villa development: Dasco Building Group, Claremont

Townhouse/villa of the year: Perth Renovation Group, Fremantle

Transportable/kit home: Evoke Living Homes, Gillingarra

View original post here:
HIA State Housing Awards: City Beach home named best in the State - PerthNow

Lofty Building Group Urges South Australians to take advantage of the Commonwealth's $25,000 HomeBuilder Grant while they still can

ADELAIDE, Australia-December 4, 2020- (Newswire.com)

Don't miss out on the Australian Government's $25,000 HomeBuilder Grant. The pressure is on to get contracts signed by 31 December 2020, so be quicktime is running out to take advantage of this incredible offer.

With the recently announced extension, contracts signed between 1 January 2021 and 31 March 2021 (inclusive) can still qualify for the Grantbut for the reduced amount of $15,000.

Lofty Building Group will remain open over the Christmas and New Year period to ensure South Australians can take advantage of the current $25k Grant and get a head start on home ownership. That's right, Lofty Building Group is only closed on Christmas Day, to help reach the deadline.

One of South Australia's best custom home builders.

The talented Lofty team are leaders in construction and property development, boasting an enthusiasm and passion for bespoke builds that has seen Lofty recognised as an award-winning builder.

From the initial concept through to giving life to the ultimate vision, Lofty consultants create stunning homes in all shapes and sizeswhether it's realising a unique design from the ground up, developments such as sub-divisions or hammerheads, or the selection of an affordable, customisable house and land package.

No challenge is too great.

Years of experience and extensive, intimate knowledge of building design enable Lofty to hit the ground running so projects can be underway without delay, which is of great importance due to the timelines imposed on HomeBuilder contracts.

It's about building better, smarter and faster.

Lofty FastTrack is a targeted, streamlined and efficient process that enables the group to construct innovative, custom homes faster than evera great benefit when it comes to reaching the construction commencement timeframe of 6 months for the HomeBuilder Grant.

This responsiveness coupled with a flexible approach to custom home design allows Lofty Building Group to adapt to any deadline. The Lofty approach, both on site and off, makes a huge difference when it comes to meeting strict targets.

Take the effort and stress out of building a new home.

The Lofty project management service puts the client first. Lofty is committed to delivering exceptional results, ensuring a smooth build process and mitigating any risk.

Get a jump start on building and home ownership by taking advantage of the $25,000 HomeBuilder Grant, while it is still available. Lofty Building Group are open over the Christmas break to help eligible South Australians meet the deadline and get into a Lofty home sooner.

Contact Lofty Building Group today on (08) 8266 0011 or book a consult online (loftybuildinggroup.com.au) to explore eligibility for the HomeBuilder Grant and to lock in an exciting build project before this rare opportunity passes by.

Press Release ServicebyNewswire.com

Original Source:Lofty Building Group Welcomes the Federal Government's HomeBuilder Grant Extension but Urges Eligible South Australians to Act Quickly to Avoid Missing Out on the $25k

Excerpt from:
Lofty Building Group Welcomes the Federal Government's HomeBuilder Grant Extension but Urges Eligible South Australians to Act Quickly to Avoid...

The luxury new-home market and price point just below $1 million continues to be strong despite the ongoing coronavirus pandemic, and builders say they dont expect it to slow through the end of the year and into 2021.

Las Vegas-based Home Builders Research reported there were 91 closings of new homes of $1 million or more during the third quarter ending in September. That is up from 75 from the same period a year ago.

For the year, there have been 205 new-home closings of $1 million or more through the third quarter, eight more than the first nine months of 2019.

Thats a strong showing despite COVID-19 when many people sheltered in place for a couple of months. That only counts the number of closings, and sales remain strong and will show up when homes are completed.

The market segment that includes $750,000 and above is also strong. There were 202 closings during the third quarter, up from 176 a year ago.

That segment was hit hard at the start of the pandemic but still recorded 490 for the year, one more than the first nine months of 2020.

Home Builders Research President Andrew Smith said luxury buyers arent affected as much by the economy, and the stock market is strong and interest rates are low.

Not only are production builders doing well but there are smaller custom homebuilders that have been building new luxury multimillion home estates and putting them on the market, Smith said.

If you are a wealthy individual who has a mansion in California, you can snatch up the most expensive house in Vegas like its nothing, Smith said.

Heres a look at what some of the builders are seeing:

Blue Heron

I have not experienced a market this strong in my whole career, including the 2005 days when things were at their peak, said Blue Heron CEO and founder Tyler Jones. Its been incredible. Talking with our sales team its (going to be) coming in numbers we havent seen before. Its exciting for Las Vegas.

Jones attributed the surge in luxury sales to lifestyle changes in terms of what people think about homes related to COVID-19. There are also geographic relocations prompted by higher taxes and political issues and unrest in other states, including California.

Everything has changed dramatically since COVID, Jones said. Its an acceleration of whats been going on in recent years. Taxes in California and other states are driving people to places like Nevada and Las Vegas that have a much easier tax climate. Its hard to track how quickly and how much more interest were getting from people in California.

Jones said COVID has prompted people to be more attuned to their home experience because theyve been cooped up and isolated. If people arent satisfied with their home, they are looking to upgrade and make it a nicer experience, he said.

With more people working from home, theyre seeing more home office space and space for homeschooling. They want bigger yards and more square footage, he said.

Jones said hes also heard from buyers worried about civil unrest where they live and want more stability and security.

Las Vegas is viewed as more stable than Portland or Los Angeles, Jones said. Weve had a lot of interest from big places where people dont feel safe.

Jones said all of their communities and custom-home production is doing well. Blue Heron has 39-home tract The Bluffs in Southern Highland with prices $2 million and up; the 34-home Obsidian near MacDonald Highlands in Henderson with prices of $2.5 million and up; Dragon Rock in MacDonald Highlands that started selling in 2020 and sold seven of 40 more lots available with homes starting at $1.5 million; and Equinox, an eight-lot custom-home neighborhood in MacDonald Highlands with homes for $3 million and above. In Lake Las Vegas, it has Vantage with 37 lots with $1.5 million to start. Blue Heron is set to unveil Caliza for sale in Lake Las Vegas starting at $1.6 million. It has 27 lots.

We have several other projects in planning right now, Jones said, citing there will be a need for luxury homes given a lack of supply. I think theres going to be an issue with that in Las Vegas over the next year or two. I believe we are at the beginning of these trends and influx of people that are moving out of these other places.

As the supply dwindles, Jones predicts there will be price appreciation in the luxury segment.

Anybody who owns a home is going to do well over the next couple of years, Jones said.

Toll Brothers

Colleen McCullough, division vice president of sales and customer experience at Toll Brothers, said they were nervous when the pandemic hit in April. The market shifted in May and has continued to go up since then, she said.

The fact that people are working from home and remote working has become more of a norm (has made a difference), McCullough said. They are also releasing themselves from California. With the interest rates at an all-time low, it makes sense for the world to either refinance or move. People have been sitting in their homes and thinking about all of the things they wanted to change about them. It sent them right into the real estate market.

In Tolls luxury segment, McCullough said theyre seeing 75 percent of buyers coming from California. Its Mesa Ridge in Summerlin is the most popular community today with homes in the $1.7 million to $2 million range. It also has Fairway Hills and Mira Villa luxury condos in Summerlin with $2.5 million penthouses. Tolls Regency community in Summerlin has a collection of $750,000 and above homes, McCullough said.

We havent seen any signs its stopping, McCullough said. We see it every single week topping our sales from the previous week. We cant slow down in Mesa. They are projecting the real estate market will continue hot through the holidays. Thats unusual. We typically do our home sales from January to May. This is going to be an unusual but very welcome addition to our winter.

Pardee Homes

Klif Andrews, division president for Pardee, said everything above $750,000 has been a great price range and is selling well in Las Vegas this year. That market has been helped by out-of-state buyers, he said.

Because of taxes and work from home flexibility, that has people thinking about different cities to live in, Andrews said. Right now, 40 percent of our buyers are coming from out of state. Its primarily from California but from everywhere like Illinois and Michigan.

Local buyers are like others in that homes are a bigger priority in their lives because of COVID-19 and lockdowns, Andrews said.

We see it across the board but luxury homes for sure; people are saying Im not traveling that much, I really want to love my home, Andrews said. They want outdoor living and pools. They want to live a little bit of a resort lifestyle at home.

Andrews said supply is limited. They have sold most of their completed homes and having a hard time keeping up building new homes now.

Most of its luxury communities are in Summerlin and Inspirada in Henderson at above $750,000 and Midnight Ridge near Sunridge Heights Parkway in Henderson. Nova Ridge and Sandalwood are the Summerlin communities with prices averaging above $1 million.

Were trying to build faster, Andrews said. Were fortunate to be able to increase prices. I dont see the market slowing down. The supply of California buyers who dont want to pay state income taxes and have the flexibility of not having to work in California any longer, thats a huge market.

Andrews said he sells one home a week at those communities, which is 40 percent above normal. People are also customizing their homes with upgraded finishes.

Richmond American

Luke OLoughlin, vice president and director of sales, said theres been a pent-up demand for luxury, and when inventory is low demand will be high.

The company is closing out its luxury homes, moving through at a quicker pace than expected, he said.

Our sales pace is going to slow a little bit because were closing those things out, OLoughlin said. Every lot is extremely valuable to us right now. Whenever one becomes available, it sells.

OLoughlin said theres not a lot of existing luxury homes for sale, and that drives people to builders.

See more here:
Vegas builders say there is pent-up demand for luxury - Las Vegas Review-Journal