Dear Neighbor,
      2003 has been a fantastic year for our area, property continues to rise in value and I have no zone
change problems to report! I have detailed the sale statistics for our area below and included my
annual calendar. I have also included a comparison of the sale statistics from one of my letters 20
years ago in 1983, as a comparison to today’s property values.
      I also read a report by CNN Money that detailed appreciation rates tracked by the National
Association of Realtors where metropolitan Las Vegas was ranked #29 in the US with a third
quarter increase of 13% in property values vs. a year ago (the Los Angeles area saw just under 26%
and finished #2). This means that along with our tremendous population growth rate, property is
going up in value proportionately due to the ever diminishing amount of vacant land (something we
used to have a lot of, just a few years ago).
      As usual, all statistics are from MLS and are for my readers benefit only, and does not necessarily
represent the highest or lowest a property may bring (last year the high sale was 3.5 million vs. 1.74
million this year based on smaller homes being for sale this year at the top prices).

High Sale by Section
Section 9________________________________________________________   $673,000
Section 10_______________________________________________________$1,740,000
Section 11_______________________________________________________   $615,000
Section 12_______________________________________________________   $450,000
High Sale (all sections)1983 (a record high at the time)____________________   $410,000

Total Sales Per Section
Section 9________________________________________________________   6
Section 10_______________________________________________________ 35
Section 11_______________________________________________________ 36
Section 12_______________________________________________________ 14

High Sale Per Square Foot
Section 9________________________________________________________$146
Section 10_______________________________________________________$204
Section 11_______________________________________________________$165
Section 12_______________________________________________________$153
Note: The average sale price per square foot in 1983 was $59!

Median Sale Price Per Section
Section 9_________________________________________________________$525,000
Section 10________________________________________________________$472,000
Section 11________________________________________________________$307,000
Section 12________________________________________________________$300,000
Note: In 1983 the average sale price for all sections was $167,381, while this year the lowest sale
price in all four sections was $224,950!

Other interesting trivia for 1983 had interest rates at about 14% for an FHA home loan (down from
18% a year earlier) and the seller would normally pay around 3 to 5 points for the buyers new loan!
Any home in our area that sold for more than $200,000 was considered to be “really high end” and
very difficult to finance (no home even approached a million until my sale in 1988 and even then,
the sale was so unusual the title company framed a copy of the check). The high sale for a 5 acre
piece of raw land was $230,000 in 1983 while last month the BLM auctioned 5 acres in Section 10
for $1,404,000. Section 10 was mostly dirt roads, and Eldora Ave. (named after my mother, and
where my home is) did not exist at all above Tenaya. In 1983 both Section 11 and 12 property
values were much higher than those in Section 10 and a wood shake roof was considered to be equal
or better than tile! Summerlin was still known as “Hughsite” and was miles from power, water or
roads (except for Charleston that was a bumpy 2 lane road going to Red Rock and Blue Diamond).
In 1983 dark brown carpet and cabinets were normal and shag carpet was a minor deduct in value.
No commercial existed on Jones or Rainbow and the traffic count on streets like Lindell (named for
my father), Torrey Pines and Tenaya was something you could do on your fingers and toes for the
whole days traffic. Going out for the evening for dinner most likely involved a trip to the east side
of the Strip if you wanted decent food, but you could not take Desert Inn because it did not cross the
rail road tracks or I-15.
      Hopefully, you have enjoyed my trip down memory lane and for those of you that have received
these letters for the last 20 years, (I sent my first calendar and year end statistics in 1983) you
remember “the good old days” and also appreciate the “good” that has come from our tremendous
growth.
      If you are considering selling or buying a property in our area I would appreciate the opportunity to be considered as your Real Estate Agent and demonstrate why I sell more homes every year, for the
last 20 years, in our area, than all the agents combined in most other companies.

Happy Holidays,
Jac Lindell