Las Vegas Real Estate Blog

Looking for a luxury condo on 2 acres of the northern edge of the Las Vegas Strip which is already approved for a 900-foot tower and an unlimited gambling license? Do you have an extra $49 million in spare change? If so, then look no further because Ivan Trump’s luxury condominium has gone on the market and is searching for a buyer.

Sarah Condominums LLC was originally projected to cost $700 million and reach completion in December, 2008. Condo units ranged in price from $550,000 to $35 million for the penthouse. Aproximately 40% of the units had been reserved when the project went up for sale. With sales of the condo units expected to top $1 billion, it becomes the most expensive residential building every sold.

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

Popularity: 15%

> The Club by Del Webb at Aliante
>
> Golf course homesite
> Available Now
> Close by 12.31.05
>
> Sandalwood (3,665 sq. ft.)
> 4 bed/4 baths
> Den or optional 5 bed
> Stainless GE Monogram appliances
> Upgraded Flooring
> Upgraded Bath Surrounds
> Cherry railing and cabinets
> Granite
>
> $768,094
> ($75,000 incentive if financed through Pulte Mortgage Company)
Call: For more information, contact MillionSaverHomes.com a local Las Vegas real estate broker at 702.212.3513.

Popularity: 14%

Economy.com recently reviewed the top 100 metropolitan real estate markets and determined that approximately one-third will experience a significant downturn in 2006 and 2007. A few markets are even expected to drop as much as 12% of the net two years.

Las Vegas, with a median priced home of $296,000, leads the list of markets turning downward, along with California cities San Diego ($598,700,) Santa Ana ($683,300,) Riverside ($362,800,) and Los Angeles ($412,900.) The states with the most declining house values are expected to be California, Florida, and Maryland.

All of the news is not as dark and glum. Two-thirds of the markets are expected to soar through the roof. NAR chief economist David Lereah believes that when home sales get too expensive for homebuyers, they tend to pull up stakes and go elsewhere. It happened in California when one-third of homebuyers moved next door to Las Vegas to buy new homes. Now, housing gamblers are moving out and heading to Texas, Arizona, Oklahoma and Arkansas in search of new opportunities.

San Antonio, Texas, with a median home price of $129,900, leads the top 100 with over 15% growth by 2007 in real estate values, followed by Jacksonville, Florida ($164,700) El Paso ($107,100,) Little Rock ($115,700,) Baton Rouge, ($133,800,) and Richmond ($191,800.) The three hot states to watch with the most cities in the top 100 for growth are Texas, Tennessee, and Virginia.

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

Popularity: 16%

Is the restrictive housing market impacting local employer in their ability to effectively recruit? In the article, “IN DEPTH: Rising prices haven’t stopped transplantsâ€? it is suggested that when potential job candidates actually sit down and begin to crunch the numbers on cost of living – and look at the large housing number – they are opting not to take the job.

“Many of the 725,000 people who moved to the Las Vegas Valley between 1990 and 2003 moved here from pricier markets on both coasts and even in the Midwest, lured by the twin enticements of job growth and inexpensive housing.” (continue)

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

Popularity: 16%

One would think that when being surrounded by desert that land would be readily available for development. Ironically, there would be nothing further from the truth. The federal government owns 80% of the land in Nevada and has no intention of selling. With over 5,000 new residents moving to Las Vegas each month, finding land to develop to meet housing needs, has become a frustration to many developers.

So, the rationale goes, if you can’t build out, build up, and up, and up. Currently, there are over 80 new mid and high rise condominiums planned for the Las Vegas Strip area alone. This is wonderful news if you like high rise condos.

Looking for a great condo? Check out MillionSaverHomes.com a local Las Vegas real estate broker at 702.212.3513. for the latest listings.

Popularity: 13%

The First Time Homebuyer Program was recently introduced by the Nevada Department of Business and Industry. The new program will provide $50 million to assist eligible first-time home buyers by providing below market interest rates and 30-year fixed rate loans. The program offers financial assistance for down payment and closing costs, which depending on eligibility, can range from $15,000 to $50,000.

To qualify for the program, a person must be a first-time home buyer – never owned a home before or have had ownership interest in a principal residence within the past three years. For Clark County residents, a one to two person household must not earn more than $70,920 annually. The maximum purchase price allowed for either a newly constructed or existing dwelling cannot exceed $318,552.

For more information go to www.nvhousing.state.nv.us , click on “Programs”, and then on “First Time Homebuyer Program.”

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

Popularity: 14%

At first glance, Las Vegas has never had it so good. In fact, this desert valley city of almost two million people is the fastest growing in the United States. Las Vegas leads the United States in job creation, and it has a white-hot housing market. “It’s going phenomenally well,” said Mayor Oscar Goodman, a former lawyer for mobsters.

But as bright as the present appears, there are signs that Las Vegas is becoming polarized. Prices have pushed home purchases beyond the reach of many families. Crime is on the rise. And activists report problems in recruiting teachers, nurses and police officers to serve a population growing by 6,000 a month…

To continue, click here. Brought to you by MillionSaverHomes.com a local Las Vegas real estate broker at 702.212.3513.

Popularity: 15%

Ameriquest Mortgage Co. may overhaul its business practices under the eye of an outside monitor to settle allegations by 33 states that it overcharged its home loan customers, according to a draft of the settlement obtained by the Los Angeles Times.

The proposed deal includes a payment of $325 million – $295 million to repay borrowers and $30 million to cover the cost of the states’ investigation, according to a copy of the proposal obtained by the Times. To read this article, click here.

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

Popularity: 12%

From Las Vegas Real Estate News…
A “sizeable” group of the country’s most recent home buyers may embark on the economic ride of their relatively young lives, according to new research focusing on how they plan to deal with a possible slowdown in housing values.

If prices simply stop rising, one in four homeowners say they’d have to rearrange their budgets, according to a recent poll of 2,261 homeowners in 13 areas of the country with the greatest concentration of new construction or the highest rates of appreciation.

However, should values fall by 10 percent, one in three would have to tighten their belts, and with a drop of 25 percent — an amount that is not unprecedented — one out of every two homeowners would be financially challenged. To read this article, click here.

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

Popularity: 15%

A study by First American Real Estate Solutions found that flipping houses can reap big returns. The study looked at sales in three hot markets — Las Vegas, Miami, and Orange County, Calif. — between 1999 and June 2005 and found that the annualized rate of return for three-to-six-month flips was usually 20% to 40% or more above the market appreciation rate.

However, people who attempt to flip properties should make sure they understand the rules before they are involved in an audit, or forced to pay more than they bargained for come tax season. To read more, click here.

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

Popularity: 16%