Las Vegas Real Estate Blog

House sales in LV are dropping.  A record 20,515 unsold Homes and condos are currently on the market, up from 10,555 last May and 4,553 in 2004.  Yet, developers are continuing to build. In fact, according to Salestraq, almost 500 subdivisions in Las Vegas have active sales offices.

While the market may be currently sluggish, many builders are confident the dynamics of Las Vegas will help the market stabilize. Every month, some 4,000 to 6,000 people move to the city to work in the casinos and restaurants, as well as in the construction trades.  However, it remains to be seen if these same factors can continue to stimulate the housing market in the long term. 

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

Popularity: 12%

Times appear to be good…if you are a big spender. Luxury consumers’ confidence continued on a positive trend, rising 8.4 points in the first quarter 2006, to reach 113.2 points. This is its highest point since Unity Marketing’s luxury tracking study began at the end of 2003. The typical luxury consumer spent $13,820 on average buying luxuries from January to March 2006, up 18 percent over luxury spending in the same period last year.

Experts are attributing the increase in luxury spending to two factors. Luxury consumers have made adjustments for the increased price of oil and the expectation that American involvement in the war in Iraq will diminish.

Home luxuries, notably home remodeling and redecorating expenditures for things like furniture, kitchen appliances, garden and outdoor and home decorating fabrics, window and wall coverings increased the most. High-end hotels which have recently been built or converted into residential condos are also selling at spectacular prices.

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

Popularity: 10%

Whose responsibility is it to decide whether a particular loan product is suitable for you?  Is the final decision yours or should the banker/mortgage lender tell you if that product is unsuitable for you?  These are the questions that federal regulators are currently asking.

According to a recent Bankrate.com article, regulators have proposed a “guidance” asking lenders to step cautiously when underwriting nontraditional loans. A guidance is a recommendation — not as binding as a regulation, but stronger than a mere suggestion.  In short, they don’t want mortgage companies giving out loans to people who can’t afford to pay principal and interest, even if it’s an interest-only loan.

So, who assumes the burden here?  Should the lender be held responsible for informing the customer when a particular loan product isn’t right for them, or should the consumer step up to the plate and take final responsibility on learning how particular loans work?

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

Popularity: 11%

W is the new Condo-Hotel project in Las Vegas. Pre-sale Opportunity! 

The W Las Vegas will be fully-furnished with contemporary interiors. Features will include a one-king or two-queen bedroom set, stunning bathrooms with dual sinks, vanity area with specialty lighting, and oversized showers. There will be a separate lounge area, an oversized desk and task chair, a full audio/visual media-style center, electronically controlled sheers and drapes, stylish kitchen, mini-bar, and more.

For more information call MillionSaverHomes.com a local Las Vegas real estate broker at 702.212.3513 or visit W Las Vegas web page at HomesParadise.com

Popularity: 19%