What? You can win in Vegas? YES!!! Like when you catch a cold, you need to get worse before you get better – the same can be applied to the real estate market. It is sick, in general, but if you buy in the right area at the right time, you may be buying at a time when the market is healing itself. Too many metaphors? Let me explain…buy now when the market is low so that you can get equity in your home and you can afford a mortgage payment. Las Vegas condos are just beginning to get better. Echelon at Centennial Hills is the perfect example. This condo development is nothing short of amazing! With units starting in the $300s, owning here is a no-brainer. Units start at 1064 SF so you will have plenty of bang for your buck! This development is a mid-rise development but these Las Vegas condos for sale will blow your hair back. Equipped with walk in closets, gourment kitchen layouts, and computer alcoves, units here are not only spacious but the developer goes the extra mile to make sure that your living experience will be stress-free and enjoyable. You are sure to win if you purchase at Echelon – in fact, I would double down and buy 2 units! The market is going to turn around and when it does, you will be in the black and stoked on life!
April 3, 2008
March 28, 2008
With the current slowdown of overall economic activity every penny counts. If you are a penny counter and on the market for a new home, you probably don’t want to spend a lot of money on rising gas prices trucking around to check out a bunch of las vegas condos accross the city.
Well, one clever real estate agent in Las Vegas has come up with a solution for connecting penny pinchers with new homes. She bought a bus and gives tours of REO and forclosed condos, townhomes, and single family homes. Genius, Genius, Genius! Not only do the passengers who ride the bus get speed tours of forclosed properties selling for well below market value – they are also saving precious pennies they would have otherwise had to spend on gas to get to there on their.
The bus seats twenty four eager new homebuyers and shuttles them all over town — North Las Vegas, Hendersen, Green Valley, and Sun City Anthem to name a few. I bet that the current residents in these neighborhoods just LOVE watching the forclosure bus roll through their streets showcasing condos to investors for up to 50% less than what they may have paid for their own home only a year or two ago. Oh well, Buy low sell high.
March 7, 2008
I just returned from a quick trip out to Las Vegas to meet with some clients and tour a few developments. Of course, the sales for Las Vegas condos have slowed a bit like in every other market, but as we all know…Las vegas is a completely different world! Las Vegas will continue to grow and attract people from all over the world. The enertainment industry will not slow down in this city and will continue to fuel job growth as will ongoing new construction of condos, homes and commercial buildings.
Local real estate expert and Senior VP of Investor Relations from Coldwell Banker, Shanda Sumpter, took us around to meet with developers from South Strip developments such as Loft 5 and One Las Vegas. When you’re there, the South Strip area doesn’t look like much…but what you do see with just a little bit of “vision” is opportunity. If you look at the city plans for the South Strip you will see many new Las vegas condos going up, new resorts, new entertainment centers, and so much more. Shanda also mentioned that Las Vegas will be experiencing a housing shortage believe it or not on the coming years. Much of this goes back to simple supply and demand. With about 50% of the planned condo developments in Las Vegas cancelled, the city is not seeing the large flood of inventory that we thought would happen. We will however continue to see more people moving to Las Vegas at a steady pace, so when we come out of this glut, there will be more people and fewer Las Vegas condos available.
February 29, 2008
There are some amazing deals on condos popping up in Las Vegas. During the condo boom out there, thousands of people put money down and signed reservation agreements. Now that the market is a bit softer out there, not everyone wants to follow through with their reservation and some people have even given up their initial deposits. This leaves the developers in a sticky situation because they thought they had the Las Vegas Condos sold and now they need to find another buyer. Usually they need to find another buy quickly in order to move forward with the condo project and go to the next phase on their construction loan.
I am personally going to explore some of these Las Vegas condo opportunities next week. Besides some great investment opportunities, it is always great to have an excuse to go to Las Vegas. There still are some high end projects doing very well such as City Center and Cosmopolitan, but some of the smaller ones are struggling with the market. A lot of investors called vulture investors are going into the Las Vegas condo market right now to pick up some amazing deals. If you can pick up a unit for a significant discount and rent it out for a few years until the market stabilizes, you can find yourself making a nice profit when you sell in a few years.
I am looking at three different condo projects in Las Vegas next week, so I will update the blog when I return about any possible condo deals out there right now.
February 5, 2008
Las Vegas is a much different market than any other in the country. Though it is in the center of the desert, the city has managed to become a global brand attracting visitors, home builders, residents, media, entertainment of all kinds, and both domestic and foreign investment. Las Vegas condos have been a hot commodity for second home buyers, investors and local residents for many years now. Some of the largest mixed use resort, hotel, and condo developments in the world are currently under construction.
One of the historic buoys that has kept Las Vegas afloat during economic downturns is actually increasing new construction on the strip. New resort development has been known to pump the economy up and provide the staple items necessary for a city to survive tough times. The most important staple item being jobs! The construction of new Las Vegas condos and massive resort communities drastically increases employment opportunities first in construction, the service industry, entertainment, retail, etc. All of the job opportunities then translate into an overall population increase in the Valley further fueling the economy.
For example, MGM Mirage is opening the $7.8 billion CityCenter development on the southern end of the Strip between Bellagio and Monte Carlo. The massive site will include 4,000 hotel rooms, hotels, and hundreds of new Las Vegas condos and luxury condominiums. The complex will have retail, entertainment and dining facilities as well. CityCenter is considered the largest development of its kind in the United States. The project alone is supplying approximately 12,000 jobs to the area!
For most cities, economic downturn could not be answered by an increase in new commercial and residential construction…quite the opposite. But for a city fueled by so much tourism, business travel, and entertainment new construction and job growth can not only be supported, but it can be the answer to surviving the slower times.
February 1, 2008
I am pleased to announce that New Condos Online has resigned Sky Las Vegas as a featured listing. Sky Las Vegas has been on our site for some time but with all the new incentives we have upgraded our site with, we felt as if the Sky Las Vegas condo development could be better represented by upgrading their listing with us and including them in our monthly e-blasting service to over 300,000 opt-in subscribers. New Condos Online has also taking their listing and is featuring it on our “Hot Condos” toolbar which effectively represents the newest and hottest condos currently being advertised online. The Sky Las Vegas Condo development has been apart of the New Condos Online family for more than a year and have reaped the benefits of being an integral part of the largest and most visited condo website on the internet. We have developed a strategic partnership with the Sky Las Vegas condo developers by taking their listing and adding almost every marketing tool to get their name all over the Internet and with only 40 units left until it is sold out, we will be sad to see them go but pleased to know that we played a part in their success!
Sky Las Vegas is unique for a few reasons, specifically they are one of the first high rises to be developed directly on Las Vegas Boulevard. While most of the developments in Las Vegas being constructed currently are considered condo hotels or timeshares, Sky Las Vegas boasts a rich and unique feature in that they are an exclusive luxury condominium. The Tower’s suites, penthouses and SkySuites are being designed as the most luxurious condominiums at Sky Las Vegas and are likened to that of the most high end suites that you would find on the strip!
Check them out — they are family and they only have 40 units left!
January 30, 2008
As we all know Las Vegas condos have the been leading the buzz in the national housing boom and condo investment market for the past few years. New Las Vegas condos and high-rise developments have been flooding the market and still are.Many projects have been canceled due to lack of pre-sales and financing issues. Construction costs of course have played a major role in slowing things down on the construction side while fleeing investors have helped to slow things down on the buying side.There are some new condos and condo hotel projects that are actually defying the odds and outpacing other developments with their pre-sales.City Center is a perfect example of this. However, many builders and real estate companies have been leasing Las Vegas condos in many of these new developments to provide some form of income.
Nights at Vegas is a local real estate and property management company that is in this situation right now. The problem for them is that they lease condos in the new Trump International Hotel and Tower. Donald Trump also owns a lease management company that leases condos in the development and earns a 50% of the rental income. Nights at Vegas earns 20% of the rental income and users the “Trump” brand for marketing and promotional efforts.Donald recently banned the firm from using the Trump brand which has completely hindered their ability to operate as it gives the appearance that they have no connection to the development. Nights at Vegas is suing Donald for $4 billion! The firm is suing based on violations of anti-trust laws and various unfair competition laws. That is quite a lofty goal! Good luck!
When things like this start happening it is never a good sogn. Fortunately, markets like Las Vegas continue to grow in population and attract travelers, events, tradeshows, and entertainment of all kinds. Las Vegas condos will thrive again…its a question of when! If developments like City Center can still sell, then there is hope for the rest!
December 29, 2007
Paxton Walk is cleverly designed condominiums and townhomes located on 31 acres in the popular Centennial Hills Community. At the heart of Paxton Walk is Paxton Square.
This thriving town center fuses working, living, shopping, and more in a collection of artfully designed four-story buildings. Imagine a charming, old-world town square just moments from your home.
Paxton Walk is a charming burg of its own. It’s a lifestyle that’s as inventive as it is inviting, complete with…782 condos and townhomes, 96,000 sq. ft. of restaurants, retail shops and offices, an expansive 9,000 sq. ft, resort-style clubhouse, catering kitchen, cinema, business center, library and more- perfect for getting together with friends or making new ones. Paxton Walk residents also enjoy lush open courtyards with pools, gazebos, fountains and walkways, spas offering luxurious massage services and facials, unique roof top garden, meditation gardens and a huge 3,000 sq. ft. fitness center with cardio, free weights, yoga, pilates and more.
With prices starting in the $200,000′s Paxton Walk will be successful because it is what home buyers are looking for in 2007. Home buyers crave private community type residences close to all of the action of a large city. With all the new condos in Las Vegas to choose from, Paxton Walk offers something new and different at affordable prices and we are excited to be a part of the marketing efforts.
On the evening of April 8, 2008, Donald Trump will announce the opening of Trump Tower 2 in Las Vegas on the Apprentice Show. When The Apprentice announced Tower 1 at the end of 2004, they reserved over half the building in a matter of days!
The penthouses are starting at $2.8 million, the one bedrooms are starting under $1 million and the studios are starting in the low $600’s. The one bedrooms increase approximately $4000 per floor and the studios approximately $3000 per floor. Please contact us directly at firstname.lastname@example.org or call 985-7654 for specific unit numbers and prices, and to obtain an official registration form.
Trump International is anticipated to be the one of the most glamorous addresses in Las Vegas. All of the units at Trump International are sold fully furnished and Trump International Hotel & Tower is located in the heart of Las Vegas, immediately adjacent to the Fashion Show Mall, in close proximity to the Venetian Hotel and the new Wynn resort. Trump is offering Studio and One Bedroom condo hotel suites and Penthouse One, Two & Three bedroom units. In addition to the elegant suites, a full complement of services and amenities true to the Trump name are planned. These amenities are destined to appeal to residents and hotel guests and the luxury Las Vegas high rise condo market.
We look forward to hearing from you soon on this project…especially prior to the April 8th announcement to millions of people on National TV!
One Lifestyle Condominiums on the south Strip of Las Vegas is one of the hottest properties in Vegas. The 19.5 acre master plan has 892 1-3 bedroom units, a 6800 square foot health club, a boutique hotel, and of course several great restaurants. One Las Vegas is situated along Las Vegas Boulevard and also includes three swimming pools. This is truly an amazing property developed by Amland Development and BSR group. These condos won’t last long.