Las Vegas Real Estate Blog

The Boca Raton Luxury Condominium project continues on schedule. Plans are to have phase one construction completed by January 2007. The first phase of the 15-acre project has consisted of building two seven-story mid-rises incorporating 378 condo units and a 10,000 square-foot luxurious clubhouse. The first 172 units should be ready in January 2007.

Boca Raton’s floor plans range in size from the one bedroom Casita plan with 593 square feet to the two bedroom plus den Caravella plan with 2,413 square feet. The Caravella is a unique plan in Las Vegas condominium living as it is the only two-story residence with a private street-side entrance. Penthouses are also available and range in size from 958 square feet to 2,204 square feet.

Boca Raton caters to both high-end, year-round residents and vacation homebuyers who are looking for a luxurious part-time residence. Prices range from the mid $300s to more than $1 million.

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

Popularity: 12%

Shadow Lane, Signature Homes‘ newest neighborhood is conveniently located just  minutes from the flourishing downtown arts district, the Las Vegas Premium Factory Outlets and from leading healthcare and legal districts.

The neighborhood offers single-family, three-story housing options.  There are three distinct floor plans from 1,295 to 1,698 square feet with two to three bedrooms and up to 3 1/2 baths options.    The houses are priced starting at $248,990.

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

Popularity: 15%

The Las Vegas real estate market may have softened, but there is still a high level of demand that is highly sustainable.  On what, do we base our conclusions?  Here are just a few reasons why.

• Land prices are still high.  Ask any developer who 15 years ago paid less than $40,000 an acre and is paying more than $300,000 an acre today.
• Ask state officials who project that the Greater Las Vegas area will add 1 million residents in the next 10 years and hit 3 million by 2020.
• At that rate of growth, experts predict that Las Vegas will run out of land on which to build in 7 to 10 years.

Sure, as a buyer, you may think the days of multiple offers in a 24-hour period that exceed the asking price are long gone.  And, they probably are, but that doesn’t mean that real estate in Las Vegas will not continue to appreciate in value and remain in high demand. All you need, is a little patience.  Time is on your side.

Popularity: 12%

If you paid one and two million dollars or more for a condo and began to discover everday construction defects, would you sue? If you said yes, than you would be one of many who are taking builders to court for a variety of reasons ranging from claims of misrepresentation, breach of contract, fraud, and faulty construction.

The real estate market may be trending down, but legal complaints are on the rise, particularly as they related to high-rise condo projects. According to a recent WSJ article, Florida has seen 2,557 individual complaints against developers filed in fiscal year ending June 30, 2006, ended June 30, up from 1,825 two years ago. In Colorado, at least 18 lawsuits have been filed by attorneys representing condominium-owners’ associations in the last two years. And in Las Vegas, the Clark County District Court is hearing cases against more than a dozen developers. That includes one suit brought by more than 50 plaintiffs against the builders of Icon Las Vegas which was scrapped in January of this year.

To read more about the trials and tribulations of condo-purchases gone wrong, click here.

Popularity: 13%

Sullivan Square, a 16.5-acre, mixed-use community in southwest Las Vegas at Durango Drive and Sunset Road is taking reservations.

The project, which will feature brownstones, Chicago-style lofts, terraced condos, high-rise towers, townhomes and live-work space, has 159 units available for reservation. Floor plans from 600 to 1,800 square feet are available. Prices range from the mid-$400,000s to $1.5 million. Additional plans for the development’s Market Street include 25 shops and services with office buildings and a 1.5-acre central park.

To see renderings of the project, click here.For additional information, contact MillionSaverHomes.com a local Las Vegas real estate broker at 702.212.3513.

Popularity: 14%

Today, the Las Vegas Sands Corp is expected to ask the Clark County Commission for the green light to construct a high-rise condo tower on a section of land that will house the $1.8 billion Palazzo project. To be specific, the condo tower will be constructed atop the building that will house the New York-based high-end men’s and women’s apparel store, Barney’s.

Plans for the condo project include the building of a 632-foot tower of 849 condominiums. Las Vegas Sands EVP Brad Stone confirmed in a quarterly conference call that at least 370 of those units would be classified as “ultra-luxury” units and that the tower would be at least 50 stories high.

For more information contact MillionSaverHomes.com a local Las Vegas real estate broker at 702-212-3513

Popularity: 14%

Those seem to be the words being spoken by many buyers around the country who are scrambling to get out of their real estate contracts. At a recent housing forecast conference in Washington, D.C., economists reported that contract-cancellation rates for big builders were approximately 40%. That’s twice as high as last year’s levels. Additionally, real-estate agents are seeing similiar event occurring in existing-home sales.

The RealEstateJournal/Wall Street Journal explores this recent phenomenon and what factors are motiviating potential buyers to jump ship. To read, Home Buyers Back Out Of Deals in Record Numbers by June Fletcher & Ruth Simon, click here.