Las Vegas Real Estate Blog

As talk of ” Manhattanizing and Miamification” downtown Las Vegas continues, debate intensifies over the ability of historic neighborhoods to peacefully co-exist with the push for more high-rise condos.

If the city planning department’s map of future downtown is to be believed, all that talk of Manhattanizing and Miamification is more than just a bunch of buzzwords dreamed up by real estate sharks. Even the map has a sense of excitement about it. It’s not some bland grid for bureaucrats to pore over during half-hour coffee breaks. Rather, this map is a three-dimensional baddie that shows the residential projects in green — and in this vision of a big-city downtown, you can’t throw a $4 latte without hitting a condo tower. According to this map, these more than 50 developments will house almost 20,000 residents.

But not everyone’s catching high-rise fever. Take the denizens of the historic John S. Park neighborhood, a swath of about 450 old bungalows and ranch homes bounded by 9th Street, Las Vegas Boulevard, and Oakey and Charleston boulevards; about 135 homes make up the city-designated historic district. Urban flavor is fine, residents say — just not in their back yards. Continue

For more information, contact MillionSaverHomes.com a local Las Vegas real estate broker at 702.212.3513.

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According to the “Current Market Conditions Survey�, the length of time required from listing to contracting a house has increased dramatically in the last six months. 75% of respondents stated that it was taking more than 30 days from listing to contract. Just three months ago, 52% of survey respondents set the average time on the market to more than 30 days. Six months ago, it was only 35% stating it took more than 30 days.

For more information, contact MillionSaverHomes.com a local Las Vegas real estate brokerat 702.212.3513.

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Ivana May Have Needed ApprenticeshipIt’s beginning to sound as if Ivana Trump should have worked as one of ex-hubby Donald Trump’s now-famous apprentices! Seems The Donald’s first wife could have used a few pointers — at least when it came to emulating her former husband’s skills as a real estate developer.

For more information, contact MillionSaverHomes.com a local Las Vegas real estate broker at 702.212.3513.

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Migration and immigration patterns are changing. As they do, they continue to impact various local housing markets as homebuyers continue their search for affordable housing in the South and West sections of the U.S.

Recently released information from the U.S. Census Bureau suggests that homebuyers are migrating away from higher-priced markets to more moderately price cities such as Atlanta, Dallas, Jacksonville, Phoenix and Portland.

This migration from higher to more moderately priced areas is referred to as a rolling boom. It occurs whenever high prices force homebuyers into other areas. For example, California loses approximately 100,000 residents a year to other states. This exodus continues to fuel the recent booms in Nevada and Arizona. If those areas become less affordable, homebuyers will migrate again. When and if they do, Texas, Georgia, Florida, and Arizona appear to be at the top of the migration hot-spot list.

For more information, contact MillionSaverHomes.com a local Las Vegas real estate broker at 702.212.3513.

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In 2006, a Harsher Reality for Realty: “–Home sales volumes exploded from $695 billion in 1995 to over $2.1 trillion in 2005.

–Residential real estate commissions grew from less than $25 billion in 1995 to over $63 billion in 2005.

–Membership in the National Association of Realtors grew from about 720,000 in 1995 to nearly 1,200,000 in 2005.

Now, says Murray, it looks like there will be a shakeout. But who will get shaken out? Traditional full-service, full-commission brokerage argue that the discount brokerage, flat-fee firms, and do-it-yourself operations will be the first to bite the dust because sellers will be willing to pay well for the services of trusted guides in a more treacherous environment.
But Murray isn’t so sure. Markets that cooled first like Denver and Atlanta haven’t seen any rebound in commissions. And some homeowners who need to sell will have so little equity in their homes that they won’t be able to afford full-service commissions. So, he says, the discounters are here to stay.

How can full-commission brokerages survive? Murray says leading firms have added mortgage, title, and other settlement services; established Internet marketing and service to communicate better with customers; and invested more in recruiting and training.”

Very good article, but I don’t think it will open eyes to many brokers. The trend in real estate is to invest at least as possible in business development. The only investment most of the companies do is in beautiful office space to attract agents, but it ends there.

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With construction nearing completion, now is your last chance for you and your clients to become a part of history in the making. Cherry Development is proud to announce that Soho Lofts will be the first residential high-rise to be completed in the new downtown Las Vegas, setting a new standard of downtown living. This is the last week that we will be offering a few select residences through a re-sale program. With the first estimated move-ins to occur as soon as mid-late February, these select residences have especially attracted buyers with the following goals:
Moving into a brand new high-rise in the next few months
1031 Exchanges
Second/Vacation Home
High-rise Investment

We also have a select number of ultra-exclusive two-story penthouses with incredible views of the surrounding city and starting at more than 4,200 square feet of luxurious living space.

Call MillionSaverHomes.com a local Las Vegas real estate broker at 702.212.3513 or visit Soho Highrise condos info page.

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Fortune magazine recently ranked Las Vegas last in a list of the top 100 housing markets. When it comes to predicted price growth, Las Vegas ranked dead last. The study predicted almost a 13% decrease in housing prices. The ranking was based on predicted price growth over the next two years.

John Restrepo, a local Las Vegas consultant disagrees with Fortune magazine’s recent study. “I get the feeling they didn’t fully analyze the Las Vegas economy and what makes it unique. If you have a market that increases 40 to 50-percent over the next two years and then you have a decline of 7-percent, well are you losing money? No.”

Restrepo believes that Las Vegas is still a hot market for the resale of homes. He stated that the resale market is a good gamble because buyers typically have more room to negotiate compared to new home sale buyers.

This information brought to you by MillionSaverHomes.com a local Las Vegas real estate broker.

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Northern California based ForeclosureS.com, a real estate information publisher and investment advisory firm specializing in distressed property reported that new foreclosure filings in Clark County NV increased to 1,743 in the third quarter of 2005 from 1,498 in the second quarter.

“We feel that an increasing number of speculators are being trapped by a relatively flat appreciation curve in the third quarter,” said ForeclosureS.com president Alexis McGee. “They put big mortgages on their purchases and are seeing little real equity growth. Prices are out of whack with rents, so many get stuck with negative cash flows.”

She went on to say that the uptick in prices in November to a median price of $310,000 in Las Vegas does not mean a resurgence of a price boom, and merely offsets the decline in October. She added, “Fluctuations like this are typical of a market cycling over the top. We do not foresee a price crash in southern Nevada next year, but a return to normalcy. That’s a good thing.”

(Source: Businesswire)

For more information, contact MillionSaverHomes.com a local Las Vegas real estate broker at 702.212.3513.

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We are looking for photographer with good computer skills. The job is independent contractor position for creating iPIX virtual tours. Please check our website to see what we do. If interested please contact John Vanhara at info@eastbiz.com

For more information, contact MillionSaverHomes.com a local Las Vegas real estate broker at 702.212.3513.

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We are looking for Nevada licensed broker with experience in managing real estate office. Please contact John Vanhara at info@eastbiz.com if you are licensed and interested in this opportunity.

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