Docstoc
EXCLUSIVE OFFER FOR DOCSTOC USERS
Try the all-new QuickBooks Online for FREE.  No credit card required.

Las Vegas Real Estate Market - PDF

Document Sample
Las Vegas Real Estate Market - PDF Powered By Docstoc
					                       Special Advertising Section




still a
BESTBET
VEGAS REAL ESTATE
           By Suzanne Stavinoha




                                                     Spirit | 141
                                                Special Advertising Section




                                                L A S    V EG A S     R E A L   ES TAT E


               S T I L L   A   B ES T   B E T




                                We’ve all read them.The persistent
                                media reports about the downward
                                spiraling real estate market in this
                                country. Fortunately, nobody in
                                Las Vegas is paying any attention.




                                                                                                                               Centex
                                                                                                                             Full Page Ad




                                                        hen it comes to the real estate market, there is much
                                                        “gnashing of teeth” in places such as Florida and
                                                     Southern California—perhaps because residents there can
                                                    no longer make huge profits by flipping properties in 48 hours.
                                                   Except for a few bright spots like Texas and the Northwest, the
                                                 real estate “boom” of the past few years alas, seems to be over.
                                      Apparently, however,“what happens in Vegas” is different—and for good
                                reason. With a vibrant economy and growing population, the city continues to thrive.
                                Local experts admit to a “normalizing” of the real estate market there, but what’s
                                normal for Las Vegas is still pretty darn good, according to David Boyer, CRS,
                                chairman of the Greater Las Vegas Association of REALTORS® (GLVAR) Multiple
                                Listing Service (MLS).
                                    “We did have the boom here, but that was unsustainable,” Boyer says. “We’re
                                getting back to normal, and for us that still means a lot of sellers and a lot of buyers.”




142 | Spirit
                                                           Special Advertising Section




                                                           L A S    V EG A S     R E A L   ES TAT E


                          S T I L L   A   B ES T   B E T




                       Sales prices have remained stable
                            for the past 14 months.

   BY THE NUMBERS                                                    of the GLVAR. “Everything is all together, with homes near
                                                                     recreation, retail and office space.”
   According to Devin Reiss, president of the GLVAR,                     Thanks to creative developers responding to buyer
   2007 is going to be about balance in the market.                  demand, there are several planned and mixed-use
   In fact, statistics show sales prices for local homes             communities throughout the Vegas Valley where a family,
   have remained stable for the past 14 months.                      couple or individual can find an affordable home with
       “Prices have decreased so slightly that it’s hard to          lots of extras.
   believe that we can expect anything other than the                    Centex Homes (centexhomes.com) has 15 communities
   status quo for this market through 2007,” Reiss says.             in the Las Vegas area, each with a variety of community
                                                                                                    features including parks,
                                                                                                    recreational facilities, club-
                                                                                                    houses, swimming pools,
                                                                                                    fitness centers or hike-and-bike
                                                                                                    trails. Recently rising to the     Cabi / Promenada
                                                                                                    number 2 spot in JD Power’s
                                                                                                    2006 Customer Satisfaction
                                                                                                    Study, Centex understands that
                                                                                                                                         Full Page Ad
                                                                                                    today’s buyer appreciates all
                                                                                                    those extras that help build
                                                                                                    and support a friendly
                                                                                                    neighborhood ambiance.
                                                                                                        For people who want the
                                                                                                    community atmosphere with
                                                                                                    the added benefits of an
                                                                                                    active city center, Monterey
                                                                                                    at the Las Vegas Country
                                                                                                    Club (montereylvcc.com)
                                                                                                    just might be the ticket.This
                                                                                                    guard-gated enclave offers
                                                                                                    condos ranging from 900 to
                                                                                                    1,700 square feet built in close
                                                                                                    proximity to the golf course,
                                                                                                    with walk-in closets, stone
                                                        The entrance to Promenada at Rainbow.       fireplaces, a private patio or
                                                                                                    balcony and more.
                                                                                                        Also along the Strip, albeit
   PLANNED COMMUNITIES POPULAR                                       the burgeoning South Strip, will be Brickwater Condomini-
                                                                     ums (brickwaterlasvegas.com), an urban-style, four-story
   While it may be the dramatic high-rises that grab the             condominium community offering its residents the
   headlines in Las Vegas, it’s the planned communities              convenience of same-level covered parking. Amenities
   that grab the lion’s share of buyers.                             include a theater with stadium-style seating, game room
       “Projects in the suburbs are more successful than             with billiard tables, conference room, fitness facility,
   those in the resort corridor because there are less of            catering kitchen with private party rooms and a
   them,” says Linda Rheinberger, immediate past president           resort-style pool with community terraces.


144 | Spirit
                                                               Special Advertising Section




                                                                                                                                                 Prices, plans, architectural renderings, specifications, dates, locations and facilities are subject to change without notice. This is neither an offer to sell, nor a solicitation of offers to buy, any real estate in those states where registration of the project
                                                                                                                                                 is required or where such solicitation or offer cannot be made. WARNING: CALIFORNIA DEPARTMENT OF REAL ESTATE HAS NOT INSPECTED, EXAMINED OR QUALIFIED THIS OFFERING. Scenes and improvements depicted in the pictures are artist’s
                                                                                                                                                 renderings only and NEED NOT BE BUILT. This Project does not discriminate on the basis of race, color, religion, national origin, gender,disability, age or familial status. Represented by Prudential Americana Group REALTORS, Shapiro & Sher Group.
                                                                L A S    V EG A S    R E A L   ES TAT E


                             S T I L L   A   B ES T    B E T




                              Planned communities grab the
                                  lion’s share of buyers.

                                                                                                              One of Vegas’ few true “loft”
                                                                                                          residences will open this summer
                                                                                                          on the Westside. Luxe Lofts
                                                                                                          (luxelofts.com) features 83 condo-
                                                                                                          minium loft units with open,
                                                                                                          flexible floor plans, luxury interior
                                             H O T E L | L O U N G E | S PA                               upgrades and resort-caliber
                                                                                                          amenities. The 4.5-acre site will
  vegas                                                                                                   contain landscaped courtyards,
                                                                                                          swimming pools surrounded by
                                                                                                          verandas and cabanas, a two-
                                                                                                          story fitness center, a private
                                                                                                          movie theater “multifunction”
                                                                                                          room, a gated pet park and a
                                                                                                                                                                                                                                                                                                                                                                                                                                                          Lux Lofts
                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Come home.
                                                                                                          life-size chessboard.
                                                                                                              In southwest Las Vegas,
                                                                                                          Promenada at Rainbow
                                                                                                          (promenadaatrainbow.com)
                                                                                                                                                                                                                                                                                                                                                                                                                           1225 to 2575 square feet      Full Page Ad
                                                                                                                                                                                                                                                                                                                                                                                                                           from upper $400s
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  relax
                                                                                                          offers a mixed-use concept where
                                                                                                          homeowners can shop, work and
                                                                                                          play downstairs from where they                                                                                                                                                                                                                                                                                  • resort caliber amenities
                                                                                                          live. This stylish, mid-rise commu-
                                                                                                          nity promises elegant interiors                                                                                                                                                                                                                                                                                  • flexible open floorplans
                                                                                                          along with an outdoor amphithe-                                                                                                                                                                                                                                                                                  • exquisitely upgraded
                                                                                                          ater, two pools with cold- and
                                                                                                          warm-water spas, a shaded
                                                                                                          hammock garden, putting green,
                                                                                                          sundeck with fire pits and a
                                                                                                          clubhouse with a business center
ALL THE BELLS AND WHISTLES                                                                                and—for when the deal goes
                  WITHOUT THE BELLS AND WHISTLES                                                          through and you need to relax—a
                                                                                                          massage room.
Las Vegas’ newest non-gaming, four star alternative.                                                          With land at a premium in
                                                                                                          the area, several builders have
                                                                                                          located farther out to build planned
                                                                                                          communities with many extras,                                                                                                                                                                                                                                                                                    You deserve it.
                                                                                                          while maintaining affordability.
                                                                                                              For example, Mountain Falls
INTRODUCTORY                                                                                              in Pahrump (mountainfalls.com)                                                                                                                                                                                                                                                                                   Under Construction...Now Selling
RATES FROM $159                                                                                           is a 1,050-acre golf-course                                                                                                                                                                                                                                                                                      Make an appointment and see all that Luxe Lofts has to offer
                                                                                                          community by William Lyon
                                                                                                          Homes. It showcases an 18-hole
                                                                                                          golf course, a clubhouse, both                                                                                                                                                                                                                                                                                   Come Chat: 702 737 LUXE (5893)
                                                                                                          family and adult pools and a
                                                                                                                                                                                                                                                                                                                                                                                                                           Come Look: LuxeLofts.com
               211 E. Flamingo Road | Las Vegas, NV 89169 | lvplatinum.com | 877.211.9211
146 | Spirit
                                                                                                                                                                                                                                                                                                                                                                                                                           Come Visit: 8855 W Flamingo Suite B Las Vegas NV 89147
                                                                   Special Advertising Section                                                                                                                           Special Advertising Section




                                                                    L A S   V EG A S     R E A L   ES TAT E                                                                                               L A S V EG A S R E A L ES TAT E
                                                                                                                                                                                                         L A S V EG A S R E A L ES TAT E


                                  S T I L L   A   B ES T   B E T                                                                                                                                                                                       S T I L L   A   B ES T   B E T




                                       What happens in Vegas                                                                                                                             Dramatic high-rises turn heads and
                                is different—and for good reason.                                                                                                                           grab headlines in Las Vegas.
       fitness center that features the latest amenities— weights,                 new buyer to the city: “Folks with second homes in Aspen                      and a movie theater, all with grand views in every direction.           room—and you share in the revenue.
       cardio equipment and exercise classes.All this with HOA                    or the Sierras now have a third in a Vegas high-rise!”                            In the competitive atmosphere of high-dollar,                           One of only two condominium-hotel projects
       fees of just $50 a year and homes starting in the low $200s.                   One of the largest and most anticipated developments                      high-rise sales, it’s important to offer a little (or a lot) extra.     presently available is The Platinum Hotel and Spa
                                                                                  on the Strip is The Cosmopolitan Resort & Casino (cosmolv.                    That’s the idea behind Allure Now™. A five-star concierge                (theplatinumhotel.com), a non-smoking, non-gaming property
       LIVING THE HIGH LIFE                                                       com). When it opens in mid-2008, prospective homebuyers                       service is offered by the developers of Allure Las Vegas                that offers owners and guests a stylish, relaxing getaway. Each
                                                                                  can expect to find a $2 billion resort that will include a                     (allurelasvegas.com) to anyone who signs on the dotted                  of the 255 suites at The Platinum come furnished with fully
          It’s been called the “Manhattanization” of Las Vegas.                   1,000 key Grand Hyatt-managed hotel, 2,000 condo/hotel                        line for a condo unit in the property. Allure Now lets                  stocked kitchens, private terraces, 42-inch wall-mounted
       Luxury high-rise buildings are sprouting up everywhere                     units, a 75,000-square-foot casino, retail and restaurant                     homeowners begin using its extensive menu of services                   plasma HDTVs, electric fireplaces and whirlpool baths.
       along and just off the Strip, as well as in surrounding areas.             space, meeting rooms, ballrooms, a spa and a theater.                         before they even move in because the 41-story project                       With so many high-rise developments to choose from,
          “The high-rise market is still relatively new to most of us,”               Called a “vertical neighborhood,” the Pinnacle                            isn’t scheduled for completion until September 2007.                    perhaps prospective buyers should consider planning a
       says Boyer, noting that in the past five years several high-rise            (thepinnaclelasvegas.com) is an exquisite high-rise going                         If you like the idea of owning an investment property               fact-finding weekend. Check into one of the choice Strip
       developers have announced construction, only to cancel                     up on the West Strip. This 12-acre development features two                   near the Strip, but don’t plan to be a full-time resident,              resorts, make a list of the properties you want to see, then
       the project later. “More high-rises are being completed this               36-story towers and something unique—a three-acre “Wet                        check out the condominium-hotel concept. With this,                     hop on The Deuce (thedeucelasvegas.com). Operating 24
       year, and more will be coming in the future.”                              Deck” on the sixth level that includes a swimming pool with                   you purchase a condo and then place it with the                         hours a day, this double-decker bus stops at virtually every
          He notes that Vegas will be an interesting market to                    an island, private cabanas, a lounge with full bar and dining                 property’s managed rental program. While you’re                         casino on Las Vegas Boulevard—and all for just $2 one way
       watch as these $1,000-per-square-foot towers have brought a                facilities, a jogging track, full-service spa and fitness center               away, your unit is rented out to visitors—just like a hotel             or $5 for an all-day ticket to ride!



                                                                                                                                                                                                    desirable. comfortable. affordable.

                                                                                                                                                                                                   Welcome to Mountain Falls, a master planned golf course community by William Lyon
                                                                                                                                                                                                   Homes located 45 miles west of Las Vegas. A perfect retreat for a permanent residence,
                                                                                                                                                                                                   second home or retirement getaway.

                                                                                                                                                                                                     • Eleven model homes ranging from 1,429 to 2,897 sq. ft. - priced from the $200’s
                                                                                                                                                                                                     • New communities coming soon from Classic Homes, Desert Wind Homes and
                                                                                                                                                                                                       Celebrate Homes
                                                                                                                                                                                                     • Resident facility featuring fitness center, lounge, pools and interactive water play area
                                                                                                                                                                                                     • Clubhouse featuring the Mountain Falls Grill Room and banquet area
                                                                                                                                                                                                     • Mountain Falls Golf Club - discounted rates and annual passes for residents

                                                                                                                                                                                                       MOUNTAINFALLS.COM • 1-866-4MTFALLS
Las Vegas’ Most Famous Home Address.
The nostalgic Las Vegas Country Club - Steps from the world famous strip - 1 & 2 bedroom condominiums
 Spacious townhomes - Golf course views - Beautiful tree-lined streets - Lush landscaping and pathways
                24-hour guard gated entrance - Resort style pools - Complete fitness center
                                                                                                                                                               A MASTER PLANNED GOLF
                                                                          From the high $100s                                                                  COURSE COMMUNITY BY
                                                                   Sales Center Hours: 10 am - 5 pm – 7 days a week                                              WILLIAM LYON HOMES
       148 | Spirit                                          702.796.9700 | montereylvcc.com                                                                                                                                                                                               Spirit | 149

                                                                                                                      *Limited time offer. Some restrictions
NOW OFFERING $10,000 IN HOMEBUYER INCENTIVES *                                                                          apply. See sales agent for details.
                                                            Special Advertising Section




                                                            L A S    V EG A S     R E A L   ES TAT E


                          S T I L L    A   B ES T   B E T




      LIVING THE
      CONDO LIFE
                                                      SAYING NO
                                                      TO CASINOS?
                                                                                                       OUTDOOR
                                                                                                       ADVENTURING                                                                                                      Pinnacle
      When suburban living
      loses its charm or if a lawn
                                                      Las Vegas is a paradise for
                                                      those who play the odds,
                                                                                                       While the bright lights of
                                                                                                       the city are a big draw for
                                                                                                                                                                                                                       Full Page Ad
      mower was never high on                         but what if gaming isn’t                         visitors and residents alike,
      your list of must-haves to                      your thing? Not to worry!                        Las Vegas is surrounded by
      begin with, then perhaps                        This town is also about                          some of the most amazing
      you’re an ideal prospect                        entertainment. Shopahol-                         sights and recreational
      for a luxurious Las Vegas                       ics can get their fix by                          opportunities in the nation.
      condominium.Whether you                         heading over to Via                              And with warm weather
      choose a high-rise unit on                      Bellagio, a treasure trove                       year-round, Las Vegas is a
      the Strip or a master-                          of ultra-haute shops                             great place to get out and
      planned community on the                        including Gucci, Chanel                          get active. With more than
      edge of a golf course, you                      and Armani. If you’re in a                       a dozen public golf clubs
      can count on a long list of                     racy mood, check out any                         within a short drive of
      amenities and conveniences.                     one of several NASCAR                            downtown, golfers have
      Most offer a doorman or                         events at the Las Vegas                          their pick of challenging
      concierge, a landscaped                         Motor Speedway. Or score                         courses.You can hike,
      swimming pool, a fitness                         big points with the kids by                      horseback ride, take a
      center and neighbors who                        taking them downtown to                          Hummer tour around Red
      quickly become friends.                         see “Viva Vision!” An                            Rock Canyon, fish, jet ski
      Condominiums are great                          overhead canopy the                              or take a dinner cruise on
      for people who love to                          length of five football                           beautiful Lake Mead. For
      travel since there’s no need                    fields covers Fremont                             those wanting to escape
      to worry about home or                          Street, and when the sun                         the dry desert heat and
      lawn maintenance while                          goes down, the lights come                       forage in the forest, the
      you’re away. In fact, exterior                  up—12.5 million LED                              cool woods of Mount
      maintenance is a non-issue                      lights to be exact. And                          Charleston are less than
      with condo ownership.                           the best part? The                               an hour away.
      That’s what Homeowner’s                         shows are free!
      Association fees are for!




150 | Spirit                                                                                                                           ALL ADVERTISING, PROMOTIONAL MATERIALS, SITE PLANS AND PRICING INFORMATION ASSOCIATED WITH THE PROJECT AND THE UNITS, IF ANY, ARE PRELIMINARY IN NATURE AND
                                                                                                                                       SUBJECT TO CHANGE BY DEVELOPER WITHOUT NOTICE. THIS ADVERTISEMENT SHALL NOT CONSTITUTE AN OFFER OR SOLICITATION IN ANY STATE WHERE REGISTRATION OF THE PROJECT
                                                                                                                                       IS REQUIRED, UNLESS DEVELOPER HAS PREVIOUSLY REGISTERED IN SUCH STATE. Obtain the Property Report required by Federal law and read it before signing anything. No Federal
                                                                                                                                       agency has judged the merits or value, if any, of this property. WARNING: THE CALIFORNIA DEPARTMENT OF REAL ESTATE HAS NOT INSPECTED, EXAMINED, OR QUALIFIED THIS OFFERING.
                                                                                                                                                                                               Special Advertising Section                                                                             Special Advertising Section




                                                                                                                                                                                                                                                                                L A S V EG A S R E A L ES TAT E
                                                                                                                                                                                                                                                                               L A S V EG A S R E A L ES TAT E


                                                                                                                                                                                       S T I L L   A   B ES T   B E T                                                                                                                         S T I L L      A     B ES T       B E T




                                                                                                                                                                                                                                   It’s important to offer a little extra in the
                                                                                                                                                                                                                              competitive atmosphere of high-dollar, high-rise sales.
                                                                                                                                                                                                                             MILLION-PLUS MARKET STILL HOT                                                                 manses.The MonteLago Village Resort (montelagovillage.com)
                                                                                                                                                                                                                                                                                                                           is a centerpiece of activity on the lake.
                                                                                                                                                                                                                                 Although there might be a “balancing” of the housing                                          Opened in 2003, it offers a slice of the Mediterranean
                                                                                                                                                                                                                             market in Las Vegas for single-family homes, condos and                                       just 17 miles from the Strip. The village looks like a Tuscan
                                                                                                                                                                                                                             townhomes, the luxury-home market is soaring. Homes                                           seaside town and features quaint boutiques and gourmet
                                                                                                                                                                                                                             with price tags of $3 million and up are selling well.                                        restaurants, two hotels, a casino and special events on and
                                                                                                                                                                                                                                 “We have more inventory in that price range now than                                      around the lake itself.
                                                                                                                                                                                                                             we’re accustomed to,” says Rheinberger, “so we go back to                                         If you’re a frequent visitor to Las Vegas, or have always
                                                                                                                                                                                                                             location and amenities.” Builders are including features such                                 desired to live here full time, don’t let news reports keep
                                                                                                                                                                                                                             as decked-out media rooms, 10-car garages, helipads and                                       you from making a good real estate buy in the region. If it’s
                                                                                                                                                                                                                             underground basketball courts.“Hot areas for these homes                                      all about “location, location, location,” you won’t find any
                                                                                                                                                                                          ADVICE FOR                         right now are the guard-gated communities like Summerlin,                                     location like Las Vegas, so go all in and play to win! “I think
                                                                                                                                                                                          VEGAS BUYERS                       Green Valley and Lake Las Vegas.”                                                             Las Vegas is still one of the best markets in the country,”
                                                                                                                                                                                                                                 Lake Las Vegas is a unique development. Over the past                                     says Boyer,“because if you buy in Las Vegas, history tells
                                                                                                                                                                                          Just like you learned the          decade, a beautiful lake has been carved into the desert and                                  us that even if you overpay, eventually you’re going to look
                                                                                                                                                                                          “three Rs” in grade school,        surrounded by palm trees, waterfalls and multimillion-dollar                                  like a genius.”
                                                                                                                                                                                          you need to learn three
                                                                                                                                                                                          different “Rs” before buying

   FROM THE $400s                                                                                                                                                                         real estate in Las Vegas. First,
                                                                                                                                                                                          RESEARCH. Las Vegas Valley
                                                                                                                                                                                                                                         COME HOME TO
                                                                                                                                                                                          offers a wide variety of
                                                                                                                                                                                          neighborhoods, so don’t
                                                                                                                                                                                          limit yourself. Find out
                                                                                                                                                                                          what’s available and make
                                                                                                                                                                                                                             Smart floorplans with
                                                                                                                                                                                          the right choice for you.          extremely elevated standards
                                                                                                                                                                                          Which leads to the second
                                                                                                                                                                                                                             Two-story patio overlooking pool
                                                                                                                                                                                          R—REALTOR®. Find a good
                                                                                                                                                                                          one and use their services.        Plush 18-seat stadium theatre
                                                                                                                                                                                          A licensed Realtor will be         Socially inspiring coffee bar and lounge
                                                                                                                                                                                          familiar with the entire
                                                                                                                                                                                                                             Resort style pool in courtyard setting
                                                                                                                                                                                          landscape of housing
                                                                                                                                                                                          options and can guide              VISIT BrickwaterLasVegas.com
                                                                                                                                                                                          you through the maze of
                                                                                                                                                                                          decisions, from offer to
                                                                                                                                                                                          closing. Finally, the third
                                                                                                                                                                                          R is REALITY. You’ll see                                                                                                                                                   DESIGNED FOR LIFE
                                                                                                                                                                                          some incredible properties
                                                                                                                                                                                          at some incredible locations.
                                                                                                                                                                                          And by choosing to become
                                                                                                                                                                                          part of the Las Vegas
                                                                                                                                                                                          community, you’ll be making
                                                                                                                                                                                          the decision of a lifetime. It’s                      PERFECTLY LOCATED ON THE SOUTH STRIP                                                  STARTING FROM THE MID-200’S
                                                                                                                                                                                          a reality you can live with.                          VISIT OUR SALES CENTER AT 7700 Las Vegas Boulevard South, Suite 11                                                  702.792.1371.

                                                                                                                                                                                                                                                This is not intended to be an offer to sell nor a solicitation of offers to buy real estate in the Brickwater Condominiums by residents of
                                                                                                                                                                                                                                                Connecticut, Hawaii, Idaho, Illinois, New York, New Jersey or Oregon, unless registered or exemptions are available, or in any other jurisdiction
This offering is made solely pursuant to the public offering for the condominium and no statement should be relied upon except as specifically set forth in the public offering                                                                  where prohibited by law. All information is believed to be accurate but is not warranted.
                    152 | Spirit
statement. This is neither an offer to sell, nor a solicitation of offers to buy, any of the condominium units in those states where such offers of solicitation cannot be made. Any
references to prices, specifications or locations are subject to change without notice. WARNING: THE CALIFORNIA DEPARTMENT OF REAL ESTATE HAS NOT INSPECTED,
EXAMINED OR QUALIFIED THIS OFFERING. This is not an offer to residents of New York or New Jersey or where prohibited by state statutes. Models used in this ad do not
reflect any preferences

				
DOCUMENT INFO
Description: Las Vegas Real Estate Market document sample