December 2013

Found 9 blog entries for December 2013.

Las Vegas Real Estate Review for 2013 shows a housing market that has clearly stopped sinking.  This is partially due to a steady decline in foreclosures.  As you can see in the following breakdown, the number of short  sales and foreclosures declined to less than 30% of the market in the final quarter of this year.

Breakdown of homes sold per quarter in 2013

Quarter

Homes SOLD   

Short Sales Sold   

Foreclosures Sold   

1st - Jan. thru March

9,821

3,604

1,069

2nd - April thru June

11,042

3,546

1,041

3rd - July thru September

10,352

2,625

741

4th - October thru December     

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Las Vegas Downtown Container Park with trendy boutiques and restaurants has now been open a few weeks.  We've stopped in a few times and it seems to be off to a great start.  As we walked out on Fremont St after our first visit, another couple asked what we thought.  Only problem we could see was that it might be a little too small.  They agreed.

The stores are not the big box deals that anchor most shopping malls.  The only "brand" we found was the Mickey Mouse store.   The park is built around a large play ground which seems to be attracting families.  We can understand why Mickey would sign a lease with the Park.

On the ground level, we find a variety of eateries.  We've tried Pinches Tacos and loved them, authentic, flavorful & healthy.  pork &

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Toll Bros is now building single story luxury homes in the Paseos of Summerlin.  Santaluz is a gated community, located just North of Paseo Park.  It's in a beautiful desert setting with the Red Rock Canyon Conservation area next-door and less than 5 minutes to shopping, restaurants and all the amenities of Summerlin.

Toll Brothers has established itself as one of our most popular luxury home builders.  Their homes are available in the resale market at several locations, including the nearby Red Rock Country Club.  For those who prefer to start new and pick their own upgrades, the Santaluz community will not disappoint.  Construction started in this subdivision a few months ago.  Initially, the sales staff was operating out of a trailer.  This past

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Selling your Las Vegas home during the Winter can work to your advantage.  Many homeowners have heard the old story that Spring is the best time to list your home.  That isn't necessarily so in Las Vegas.  You may find that your home has less competition because some owners will wait until the Spring to list.

Las Vegas isn't your typical town.  We have a large population of retirees and folks who own second homes in Las Vegas.  These home buyers are likely to purchase their homes during the Winter months.  They may be in town shopping between Christmas & New Years, attending the big CES Convention in January,  or maybe escaping the harsh New England Winter in February.  They don't need to wait until school's out to move.  They're qualified buyers and

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As we're approaching our final week-end before the big day, you may be looking for Las Vegas Christmas Events 2013 to share with friends and family.  There is no shortage of options, both free and with tickets.  Here are some of our favorites:

Bellagio Hotel Conservatory - Bellagio changes their seasonal display several times throughout the year.  The Christmas display is always beautifully done and it's free to the public.  This year's display features Las Vegas' largest indoor Christmas tree, measuring 45' tall and 8000 lbs.  Grab a hot chocolate at Jean Phillippe Patisserie next-door and marvel at all the cakes and deserts that are decorated for the holiday.  After paying a visit to the huge Christmas tree in the Conservatory, venture out to see the

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Looking for new construction Luxury Homes in Las Vegas?  Lennar is one of the more active builders in the Las Vegas Valley.  They recently made the leap into the Luxury  Market with their Masters subdivision inside the guard-gates of Southern Highlands Estates.  For those who prefer luxury in a more urban setting, Lantern Gardens is a great option.

This gated community is located between Rainbow and Tenaya with gated entrances on both Desert Inn and Spring Mountain.  It's a great location for those who want to be on the Strip in ten minutes.  The shopping, restaurants and golf courses of Summerlin are only ten minutes West of the community.  This location offers all the convenience of the nearby amenities without the SIDs/LIDs of a master planned

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Panorama Towers is one of our most popular high rise properties.  Over the past year, we have recorded 62 sales in the MLS at this location.  The price per square foot varies considerably in this building.  Units with Strip views and on higher floors, naturally fetch a higher price than those on lower floors and with Mountain views.

Only four units at Panorama have sold for more than $300 per square foot this year.  In February, unit 3300 in Tower 1 closed at $2.3Million or a record $470/sf.  This was a penthouse suite with 4894 sf of living space, 3 bedrooms, 3.5 baths plus den with tons of upgrades and incredible views.  A more typical condo, unit 2900 in building 2 offered 2372 sf with 2 beds/2.5 baths.  This one was an end unit that closed for

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To borrow a quote from one of our favorite real estate newsletters, "November price trends confirm winter's headwinds are upon us".  This was the subject of our monthly email from Clear Capital out of Truckee California.

Yes, we are seeing a slow down in sales in the local Las Vegas market.  We agree with Clear Capital's opinion that this is a "healthy moderation".  In November, the appreciation was 3.1% according to Clear Capital which puts Las Vegas as #5 on the list of top performing metro areas.  To see their full report, click here.

SOLD in November - We sold a total of 2687 homes (including condos, town homes & high rise) in the month of November.  Compared to the 3153 properties that sold in October, this would be an alarming drop if it

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What's available this month?  As we enter December there are 395 condos for sale in the most popular high rise buildings.  Only fourteen of those are short sales and seven are foreclosures.  Of course, the foreclosures include unit 3801 in Tower 4 at Turnberry Place.  This 8205 sf penthouse is waiting for the right buyer who see the $8,888,888 value in this one of a kind residence.  At this point, distressed sales only account for 5% of the current listings in our high rise buildings.

What sold in November?  Only 36 units closed which is a considerable drop from previous months.  Sales have been averaging over 45 per month.  We suspect this drop is a combination of several factors.  The first factor is seasonal.  We do notice a slight drop in high rise

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