Las Vegas Real Estate Blog

Clark County ranks 10th in the nation for residential foreclosures according to RealtyTrac. The number of Homes in Clark County being foreclosed on rose 32% from last year. Also, the foreclosures come from all over the county. Homeowners in trouble are not concentrated in one area like North Las Vegas or Henderson.

The spike in foreclosures is being called “significant” by Assistant Clark County Recorder Charles Harvey. Experts blame higher debt and reduced demand for housing as well as the adjustable rate mortgages for the higher number of foreclosures.

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

Popularity: 15%

Its all about the locals…so developers of two mixed-used projects believe.  Local Las Vegas residents want some place to call their own and now they have two notable mixed use developments from which to choose.
Just 11 miles northwest of the Strip residents will note the massively constructed steelwork project known as The Village of Queensride.  A new $850 million mixed-use development at the edge of the master-planned community of Summerlin.

Developed by Vegas-based Executive Home Builders (EHB), the first of its kind ‘neighborhood’ will sit on 29 acres. When completed in 2008, it will feature more than 700,000 square feet of upscale retail, restaurant, entertainment and office space — as well as 340 luxury condominiums, all in 18 separate buildings.

If you would rather stay closer to the bright lights of the Strip, then the Town Square with its 150 retail stores and at least a dozen restaurants, 200,000 square feet of Class-A office space, an outdoor concert venue and a multiplex cinema will definitely keep your interest peeked.

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

Popularity: 8%

Why is a Bahamian Internet casino company interested in a 269-unit condo complex called Chalet Vegas on Paradise Road? Why to build a bricks-and-mortar casino that will be Nevada’s largest poker room and biggest sports book of course. There’s only one problem with that…the Chalet Vegas management knows nothing about the plan and a member of the Nevada Gaming Control Board says they’ve heard nothing about it either.

“Online casino ‘cases’ condo complex” looks at this head scratcher that is sure to give you a chuckle. Smoke screen or comedy of errors?

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

Popularity: 18%

While the real estate market may be slowing in Las Vegas and on the coasts, one concept in real estate seems to be picking up steam. Purchasing condos for your car or motorcylce collection, or to house your waterski or boat, is gaining in popularity. So much so that the Park Place Car Condo is opening a 224-garage facility in North Miami and a 179-garage facility in Fort Lauderdale and plans to open locations in New York, Las Vegas, Orlando, Fla., and Scottsdale, Ariz., in the next few years. Developer Kevin Buckley said Park Place condos start at $150,000 for a 620-square-foot condo for three cars and go up to $400,000 for an 1,800-square-foot condo that can house a bus. Interested in a car condo? Click here to read more.

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

Popularity: 17%

Christopher Cagan, director of research and analytics at First American Real Estate Solutions, believes he can predict where home prices are headed based on past data. He’s identified four distinct types of housing markets, each of which is poised to react differently in the coming years.

Cagan states that “the residential real estate market stands at a pivotal position in the spring of 2006. Depending on the local area, prices are rising at single-digit levels, flattening out, or slightly declining — in other words, conditions have returned to normal after a very strong bull market.”

Las Vegas has been termed a catch-on market.  This means that the market traditionally behaved in a linear fashion but recently experienced a strong move up or down in prices.  To read more about a catch-on market and the significance it has on the future Las Vegas market, click here.

Popularity: 8%

A recent report by the California Association of Realtors details the home selling behaviors of the senior market.  Key differences in behaviors were noted between “younger” seniors, those 50 to 64 years of age, and “older” seniors, those 65 or more years of age.

The report found that of seniors using the Internet to sell their Homes:

• 61%  did so to locate a specific real estate agent.
• 92% utilized the Internet to research comparable prices.
• 20% went online to learn about specific neighborhoods to move to.
• 82% stay within their homestate when buying and selling with 72% moving less than 100 miles away from their last primary residence.
• Younger seniors tend to move farther away from their previous residences than  older seniors.  The most popular choices for the 18% of senior buyers who do move out of state:  Florida, Nevada, Arizona, Texas, Georgia, and New Mexico.

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

Popularity: 17%