With the Vegas housing market at the bottom, and the Canadian dollar at the top, purchasing a second home in the gambling capital of America seems a sure bet for discretionary second homebuyers.

After five years of declining prices, the real estate market in Las Vegas may have bottomed out, say some local realtors after slight week-overweek gains in February.

With the Canadian dollar running above parity, Canadians are cashing in their chips and putting coin down on property in the Silver State.

According to the president of the Greater Las Vegas Association of Realtors, cash purchases on existing homes have been higher than 40 per cent for more than a year, topping 50 per cent in January 2011, due to international investor interest and tighter lending standards.

With 300 days of sunshine a year and the second lowest tax rate in the United States, Nevada has always been a popular snowbird destination, and now it's one of the most affordable housing markets in the nation.

Ryan Smith, sales manager of a new active 55-plus community in North Las Vegas, says secondary and out-of-state homeowners also enjoy the same low property tax as Nevada residents (1.17 per cent of the purchase price). Smith, who manages sales for Shea Homes at Ardiente in North Las Vegas, says the city of 200,000 is the third largest city in Clark County and the fastest growing city in the U.S. over the past 10 years. Located on the northern rim of the valley, North Las Vegas is 27 kilometres from McCarran International Airport and 19 km north of the Las Vegas Strip. According to the realtors association, North Las Vegas is an active home buying area. Between November 2010 and January 2011, the medium sales price for homes in North Las Vegas was $116,000, down 3.2 per cent from a year ago, and 62.9 per cent over the last five years. The weekly average list price in mid-February was up 1.4 per cent to $124,020. Ardiente offers new homeowners the best of both worlds, with tranquil resort-style living only minutes from the worldclass entertainment, shopping and dining mecca.

Located in the hot and dry desert basin, it's also 45 minutes east of snow-capped Mount Charleston and an hour from Lake Mead, the largest man-made lake in the States with 800 kilometres of shoreline for golfing, boating, fishing and swimming. Two hospitals and the Premium Outlets mall are within 16 km.

Ardiente, Spanish for passion, is the newest addition to the Trilogy by Shea Homes brand of Active Lifestyle Communities. The 788-home, Spanish-style community opened in 2005 by Centex and was acquired in 2008 by Shea Homes, a division of J.F. Shea Company, which managed the construction of the Hoover Dam. Centrex built the first 250 homes, and Shea Homes, one of the most energy-efficient homebuilders in America, is building out the community over the next five years.

Smith says the 150-acre, 24-hour, guard-gated community reopened in June 2010, offering three home collections and 10 floor plan options. He says the floor plans are created for active adults and offer a high degree of personalization.

"Our homes are sized for usage by permanent residents or seasonal homeowners," explains Smith, adding one-third of their 300 residents are seasonal.

TAKE A TEST DRIVE

Interested people can enjoy a three-day/two-night mini-vacation to check out the community.

Stay at a nearby resort and casino and receive full access to Ardiente amenities, including the clubhouse fitness centre, pools, tennis courts, steam rooms, putting greens and bocce courts. Guests will also receive a guided tour of the community and show homes and $100 US/couple credit toward dinner, golf or a show.

Standard price is $158 per couple. Mention this Journal article and receive the promotional rate of $109/couple.

To book, call 800-685-6494 or 702-224-8200. To learn more, visit sheaardiente.com

For seasonal owners, the plans range from small and flexible, with more efficient use of space and no formal areas, to larger open plans with formal dining rooms and wet bars. But he says even the smaller homes can fit a kingsized bed into the master bedroom.

All homes feature covered patios and soaker tubs in guest bathrooms, and offer 10 to 15 per cent more closet space and 20 per cent more window space that other homebuilders.

"But with customized floor plans and more than 2,000 personalized selections available through the Design Studio, buyers can create what is essentially a one-of-a-kind home."

Base prices for the single-storey home collections range from the Riviera (1,220 to 1,426 sq. ft.) from $146,990 to $158,990; to the Monte Carlo (1,437 to 1,741 sq. ft.) from $169,990 to $195,990; and the Portofino (1,930 to 2,444 sq. ft.) from $209,990 to $247,990 (all prices in U.S. dollars).

The 1,583-sq.-ft. Monaco floor plan, with two bedrooms, two baths, den and two-car garage, is the most popular with part-time and full-time residents, adds Smith.

It has a front courtyard, a rolling wall of glass between the great room and covered patio, a formal dining room and a kitchen with nook.

All homes are Shea Green Certified, offering energy saving up to 30 per cent and a carbon footprint reduction of up to 48 per cent. Upgrades include elevation and green options such as a satellite sprinkler system and solar panels.

Shea Homes also uses acrylic stucco, which doesn't crack as easily as concrete-based stucco.

"Living here is like coming home to a resort every day," says Smith.

Four-star active lifestyle amenities include a 20,000-sq.-ft. private clubhouse as well as seven landscaped parks connected by four km of fitness trails with 24 stretch-and-warm-up stations along the way.

The 13,000-sq.-ft. indoor space and additional 7,000-sq.-ft. covered patio space are designed around Trilogy's boomer theme of social interaction and activity.

"It's an extension of your home," says Smith, "you can entertain guests here in the fireside library or billiards room."

Inside the clubhouse is a catering kitchen, a business centre, games and billiard rooms, a 2,596-sq.-ft. fitness centre plus a 700-sq.-ft. group exercise studio.

In addition, there is 748 square feet each of locker space for men and women.

Outside is a basketball court, a heated and lap pool, a barbecue area, two chipping and putting greens, two tennis courts, three bocce courts and lawn bowling.