Charles E. Jack Appraisal & Consulting, Inc.

Bureau of Land Management Land Auction  

One of the most significant and profound events that will affect the larger local Las Vegas land market is the release of land by the federal government for auction to private parties.  The Southern Nevada Public Land Management Act of 1998 authorizes the federal government (i.e. the Department of the Interior - Bureau of Land Management) to release both large and small parcels which are interspersed with or adjacent to private land in the Las Vegas Valley.  In order to promote responsible and orderly development in the Las Vegas Valley, and based on recommendations made by local government and the public, certain of those Federal lands will be sold by the Federal Government.  Charles Jack Appraisal and Consulting has prepared some of the appraisals on the parcels that will be released during the June 8^th and 9^th auctions.  For more information on the public land sales that will be occurring please check the Nevada BLM Web Site at http://www.nv.blm.gov/vegas/Default.htm.

North Las Vegas 7,500 Acres

North Las Vegas finally has the opportunity to benefit from the positive effects of a major master-planned community.  While the real estate markets in the City of Las Vegas, Clark County, and the City of Henderson have benefited from projects such as Summerlin, Rhodes Ranch, and Green Valley Ranch, the City of North Las Vegas has mostly experienced spotted smaller developments primarily in the single-family housing area.  Although such developments have created a very strong single family market in the North Las Vegas area, competition is fierce amongst the single-family players and any cohesive master-planned style development is lacking due to the smaller sizes of the available parcels.  A 7,500+/- acre community in North Las Vegas would create the second largest master-plan in the Las Vegas Valley (after Summerlin) and would likely bring a cohesive development plan to a well-positioned northern boundary of the Las Vegas Valley.  The opportunity for upgrade, executive, and luxury home development is promising for the master-plan and may fill the current void of such product in the North Las Vegas market area.  Integrated multi-family, office, and retail development is also planned for the 7,500+/- acres.  

Charles Jack Appraisal & Consulting (CEJAC) recently worked as an affiliate consultant with the Restrepo Consulting Group to prepare the North Las Vegas Market Study for the 7,500+/- acres.  The focus of this study was to estimate the time required to absorb the acreage to build-out/sell-out and to make recommendations for the parcel disposition strategy that will maximize revenues and minimize the absorption period while maintaining a well-planned, fiscally-balanced development.  The parcel disposition strategy is a process called Village Typing and Market Segmentation.  Please read the encapsulated market analysis contained in the link above to learn more.  

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Copyright © 2001 Charles E. Jack Appraisal & Consulting, Inc.
Last modified: May 10, 2000