SOURCE: MIRA VILLA

Peeples Ink

May 15, 2013 18:18 ET

Mira Villa Condominiums Qualify for Financing With All Major Lenders

Luxury Condo Community Earns Fannie Mae PERS & VA Approvals

SUMMERLIN, NV--(Marketwired - May 15, 2013) -  MIRA VILLA condominiums recently met a major milestone earning the coveted Fannie Mae PERS and VA approvals, which make financing available to buyers through any major lender of their choice. The approvals are a guideline to lending institutions indicating that risks have been mitigated and a stringent audit has been completed by Fannie Mae.

"For buyers, condominium financing has been scarce in Las Vegas," says Tera Anderson, director of sales at MIRAVILLA and Vice President of Nexus 30, the listing brokerage for the community. "The community has been audited and evaluated on a number of criteria including sales activity and success; HOA stability; and owner occupancy to renter occupancy ratios."

Over the past year, MIRA VILLA was able to offer financing options through local lending partners Wells Fargo and Nevada State Bank because of an earlier granted CPM approval through Fannie Mae. The PERS and VA approvals surpass the criteria met by the earlier CPM approval, opening lending up to all major lenders that buyers may want to use, including Wells Fargo and Nevada State Bank.

"Even with buyers who do not wish to finance, these approvals carry a significant weight," adds Anderson. "They say, in no uncertain terms, that the community is of the utmost stability -- something that is relatively uncommon in this market, primarily because of owner vs. renter occupancy ratios. An overwhelming percentage of our buyers are choosing to live at MIRA VILLA because of the lifestyle that it affords. Our owner occupancy numbers were a critical variable in being awarded our recent approvals from Fannie Mae."

Sales at MIRA VILLA have outpaced the Las Vegas-area market since the community's relaunch in 2011. In March of 2013, the final inventory was released for sale ahead of the projected timeline. Since then, 21 of the 44 units in that offering are sold or under contract, accounting for more than $10.5 million in sales.

"We expect that the recent PERS and VA approvals will continue to accelerate the sales pace at MIRA VILLA given the vast array of financing options that they open up for buyers," adds Anderson.

MIRA VILLA is a new and gated, luxury condominium community located 15 minutes from the Las Vegas strip in the heart of Summerlin, NV, a 22,500 acre master-planned development renowned for its cultural offerings, championship golf courses, parks and trail system, excellent schools and easy access to Summerlin Parkway and I-15.

MIRA VILLA overlooks both TPC Las Vegas golf course and Angel Park golf course in Canyons Village. It is located near shopping, Summerlin Hospital, the Academy of Nevada Ballet Theatre, Red Rock National Park and casinos.

The community comprises 21 mid-rise buildings constructed of concrete and steel with emphasis on sound abatement and state-of-the-art fire-protection.

Amenities include panoramic golf-front, city, mountain and Las Vegas Strip views; spacious well-designed floorplans; expansive private terraces; private two-car garages; private elevators; pool, spa, fitness center and outdoor barbecue areas.

A relationship with JW Marriott Las Vegas Resort & Spa allows owners to take advantage of discounted spa and salon treatments; nightly room rates; discounted food and beverages; complimentary shuttle service to the resort; complimentary golf concierge; in-home catering service; in-home housekeeping services and pool memberships and day-rates.

Additionally, MIRA VILLA owners benefit from a relationship with TPC Las Vegas, which includes discounted rounds of golf and other amenities.

For more information about MIRA VILLA, visit MIRA VILLA's website at www.LiveMiraVilla.com or phone 702.254.4647.

For more information about lending through Wells Fargo Home Mortgage contact Joe Lobosco, Pmb Sales Supervisor at 702.791.6221 or via email at joe.lobosco@wellsfargo.com.

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