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Las Vegas Homes BlogLas Vegas real estate blog with market conditions, news and availability of Las Vegas homes and condos as presented by RE/MAX Associates. Friday, June 30, 2006Las Vegas Judges Under the Microscope
According to reports from the AP, three judges in Las Vegas have been accussed questioned for engaging in conflicts of interest, favortism and other questionable practices and are now under review by the Nevada Supreme Court.
The report states that rumors were kicked off when the LA Times published articles that contained details of what seemed ot be a widespread of violations of judicial canons by Las Vegas judges. Judge Brennan is accussed of presiding cases that involved partners in his Las Vegas real estate ventures and of receiving thousands of dollars in comps from a casino whose boss later had cases that went berfore Brennan. The AP stated that the other judges questioned faced similar accusations. They were accussed of showing favortism towards those who contributed to their lifestyle. Las Vegas real estate blog with market conditions, news and availability of Las Vegas homes and condos as presented by RE/MAX Associates. Thursday, June 29, 2006Private Sector VS Public
The public sector of Las Vegas real estate and the private sector rarely agree on what’s best for the Las Vegas property that is shared between them. An example of this is shown in the disagreement the public and the private share on how much local real estate is available for industrial development.
Depending on who you ask, there is anywhere from 47,000 acres of real estate available for development to as little as 1,100 acres. According to Clark County officials there are 47,000 acres in the county that not developed and are being zoned for industrial uses. One third of that land is within the Las Vegas development boundary. Leaving the rest of the Las Vegas real estate far outside the reaches of current development. Las Vegas real estate blog with market conditions, news and availability of Las Vegas homes and condos as presented by RE/MAX Associates. Wednesday, June 28, 2006Growing Gap Between Prices & Incomes
According to recent polls the local real estate market fell seven places to #19 in the national rankings. Experts say the reasoning behind this is simple, there is a widening gap between Las Vegas home prices and incomes. Marcus & Millichap Real Estate Investment Brokerage
Company says that their firm has analyzed and ranked 42 national markets in the past 12 months and that with the returns the Las Vegas real estate market has been making it placed #19. Las Vegas real estate blog with market conditions, news and availability of Las Vegas homes and condos as presented by RE/MAX Associates. Tuesday, June 27, 2006Project Traffic Flow
Triple Five Co. seems to feel that they have a way to help relieve some traffic problems for residents of Las Vegas. Triple Five wants the zoning to be changed to allow two 250 ft. tall Las Vegas condo towers. The Las Vegas property where they want to construct the buildings currently has a two-story height lime and does not allow residences.
Officials are leaking that since the layout of the Las Vegas condo are designed to help regulate the flow of traffic by keeping the condo residents and mall patrons on different roads, there is a chance for the project to get a green light. Las Vegas real estate blog with market conditions, news and availability of Las Vegas homes and condos as presented by RE/MAX Associates. Tuesday, June 20, 2006Big Plans For The W
Fred Segas is set to be the featured fashion representative of the W Las Veags. The W is a Las Vegas condo project that is scheduled to break ground next year and should open in 2009. Reports released show that the Las Vegas condo project will feature 4,000 hotel, condo-hotel, and condos.
Within the W Las Vegas will be a plethora of retail stores with an indisclosed amount of floor space. What is disclosed is that there will be top notch restaurants showcased, along with lounges, nightclubs, and 75,000 sq. ft. of casino and theater. Las Vegas real estate blog with market conditions, news and availability of Las Vegas homes and condos as presented by RE/MAX Associates. Monday, June 19, 2006Some Cities Are More Risky Than Others
These are important days in the local real estate industry. According to reports that rate the dangers or riskiness of major cities in the United States, Las Vegas is one of the more risky areas.
According to a consultant with PMI Mortgage Insurance Co., Mark Milner, the local market is a little risky, but so are a lot of other places. The survey shows that cities with higher land prices are more expensive to live in and that the real estate market in these cities leans towards a buyers market. Prices of homes have soared and those investors who were hoping for a quick flip of their property may be in for the long haul. Milner says that while Las Vegas is at the top of the list other cities aren’t far behind. According to Milner the highest risks for real estate are in California and the Boston to New York corridor. Las Vegas real estate blog with market conditions, news and availability of Las Vegas homes and condos as presented by RE/MAX Associates. Sunday, June 18, 2006Project City Center: Setting The Pace In Las Vegas
The Project City Center is set to change not only the face of Las Vegas, but also the entire way developers look at Las Vegas real estate as a whole. This weekend MGM began pouring the foundation for it's new main attraction says a spokesman from MGM there are even more dynamics to the Project City Center than just the sheer mass, scope and size of the project.
When the Project City Center opens in 2009 it is going to create more than 12,000 full-time positions in Las Vegas. This is will be the biggest single most injection of jobs into the market in Las Vegas history. Also, the Project City Center is set to be the largest Las Vegas real estate project ever and is going to be the largest private development under construction in the United States. Las Vegas real estate blog with market conditions, news and availability of Las Vegas homes and condos as presented by RE/MAX Associates. Saturday, June 17, 2006Trumps In Beirut
Donald Trump is sononomous with Las Vegas, Miami Beach, and the Apprentice. How about Ivana Trump though, is she known for her Las Vegas real estate deals? According to reports Ivana is having problems in the Las Vegas condo market and is in danger of not completing her Las Vegas project. It seems as though she is looking past local real estate and towards Beirut.
Ivana Trump has said that she will have a condo constructed that will feature one, two and three bedroom apartments, duplexes, and penthouses with views of the Mediterranean Sea. Las Vegas real estate blog with market conditions, news and availability of Las Vegas homes and condos as presented by RE/MAX Associates. Friday, June 16, 2006Monthly Reporting
Dubai Holding, a state owned developer with connections to a Las Vegas real estate firm has selected an international contractor after months of deliberating. The news came through the wire that Hill International will manage the big project that the Dubai Holding firm has been planning.
Dubai Holding has been in talks to develop a $27.7 billion Las Vegas style hospitality project. According to local real estate expert this Las Vegas style Bawadi tourism structure will be one of the most expensive development ventures ever taken on…if not the most expensive. Las Vegas real estate blog with market conditions, news and availability of Las Vegas homes and condos as presented by RE/MAX Associates. Thursday, June 15, 2006Time For A Buyers Market
Las Vegas real estate has been one of the hottest markets going this past year. This from real estate researcher and consultant Jack McCabe. According to McCabe, Las Vegas home prices are going to wreak havoc on the local market and on condo sales. The reasoning behind this is that the Las Vegas market has shifted to a buyers market.
McCabe and other real estate experts predict that buyers will be able to pick and choose which homes will best suit their needs without having to sacrifice because of steep prices. According to local real estate experts, sellers are going to step back and re-evaluate the price tags that are hanging from their homes and if they are serious about selling. Las Vegas real estate blog with market conditions, news and availability of Las Vegas homes and condos as presented by RE/MAX Associates. Wednesday, June 14, 2006Condos Sales Increase In Las Vegas
Sales prices dropped for Las Vegas condos. This is the latest according to Las Vegas market statistics, which followed condos that were sold in downtown Las Vegas in the months of March and April. The survey compared asking prices, sales prices, and the average sales prices between the two months.
According to the survey, local condo prices dropped by 25.5% in April. In March, the average asking price for local condos was around $353,000, whereas in April it was $266,000. There was a drop of 20% in the sales price as well as a drop of 11% square footage pricing. Because there was a decrease of prices for the newly constructed condos, there was an increase in sales. In the month of March there were a total of 64 condos sold, in April that number increased slightly to 67 local condos. Las Vegas real estate blog with market conditions, news and availability of Las Vegas homes and condos as presented by RE/MAX Associates. Tuesday, June 13, 2006Solera at Stallion Mountain Golf Homes
New releases of Golf Course lots are planned by Del Web at Solera at Stallion Mountain. This is a welcomed addition to the developers newest age restricted developments. The lots will run parallel to Stallion Mountain golf course in Las Vegas Valley's eastern region.
In addition to golf, the country club plans a 10,000-square-foot recreation center with a fitness facility, hobby rooms, club, a swimming pool, and tennis. Floor plans are available in 5 single-story plans, ranging from 1,155 to 1,716 square feet. Prices start from the $220,000s and range to the $280,000s. Las Vegas real estate blog with market conditions, news and availability of Las Vegas homes and condos as presented by RE/MAX Associates. Monday, June 12, 2006Brisk Las Vegas Condo Sales at Juhl
Sales of the downtown Juhl mid-rise project are reported to be brisk in-spite of the recent downward trend in the Las Vegas condo market.
Prices at Julh start from the high-$200,000s with more than 100 floor plans available, ranging from 616 to 2,500 square feet, in one- and two-story designs for lofts, townhouses, flats and penthouses. These Las Vegas condos are located in the Downtown Art District. Las Vegas real estate blog with market conditions, news and availability of Las Vegas homes and condos as presented by RE/MAX Associates. Sunday, June 11, 2006Tough Market?
The local real estate market is giving Morgans Hotel Group a rough way to go. Just last February Morgans went public with $20 a share, now their stock has taken a hit to $14.50 a share. The real estate company has taken a hit because of its recent business transactions which shook up and left its investors baffled.
Recently the Morgans Hotel Group purchased the Hard Rock Hotel in Las Vegas. The purchase of the Hotel has forced the company to take more than just a hit for their shares holders, but also caused the company to take a loss of $30 million in the last year. Things are not completely bleak for Morgans. Analysts of the Las Vegas market expect to see a 16 cent increase in their shares this quarter. Las Vegas real estate blog with market conditions, news and availability of Las Vegas homes and condos as presented by RE/MAX Associates. Sunday, June 04, 2006New Gated Las Vegas Neighborhood - Eagle Canyon West
Eagle Canyon West, a new gated neighborhood in northwest Las Vegas was recently announced by Lennar DS Homes.
The 28 Las Vegas homes sites are built around a central park and all on one street making it almost impossible to get lost.Lots range from 8,800 to 19,377 square feet. The smallest site is 80 feet wide and 110 feet deep. Home buyers can choose from five unique floor plans. Ranging from 3,124 to 4,483 square feet these homes offer four or five bedrooms, as many as four baths, and up to three-car garages. Prices start from the high $500,000s on these Las Vegas homes. To reach Eagle Canyon West, take U.S. Highway 95 to the Interstate 215 (Las Vegas Beltway) East exit. Make a right on Sky Pointe Drive, a right on Frontage Road, then a left onto the Beltway. At Jones Boulevard, go north to Deer Springs Way, and then head east. Contact the RE/MAX Pros Toll Free at (866) 240-9180 and let them set up an appointment for you. Las Vegas real estate blog with market conditions, news and availability of Las Vegas homes and condos as presented by RE/MAX Associates. Saturday, June 03, 2006Las Vegas Homes Builder Donates to Good Cause
Rhodes Homes discovered many high-quality items that they did not plan to use during a recent inventory of its model-home furniture.
A decision was made to load the items on a truck and donate them to The Shade Tree Shelter, a local facility for women and their children in crisis situations. The Las Vegas homes builder has a history with The Shade Tree. "We have partnered with The Shade Tree in the past and knew they could use these products. They were thrilled to hear about the donation because it would help their clients as they begin their new lives." said Glynda Rhodes, an executive with Rhodes Homes. "We had many brand new decorator items and several pieces of furniture in our storage unit that we just weren't using or going to use for various reasons." Rhodes is the developer of the Rhodes Ranch and Tuscany Las Vegas golf course communities.
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