Las Vegas Real Estate Blog

MGM Project CityCenter

2007-10-28T10:55:00.000-07:00

The $7 billion CityCenter project will include 2,800 residential condo units, 66 acres of cafes and two 400-room boutique hotels that will be along a quarter-mile stretch. This city-within-a-city will have a 4000-room hotel/casino.
MGM Mirage City Center is set to transform the strip and Las Vegas! Offering shopping, dining and entertainment, Project CityCenter is designed for the residents who will call it home.

The Harmon Hotel & Residences

Operated by The Light Group, The Harmon Hotel & Residences will define hip and upscale exclusive living on the Strip. Each suite will be unique and offer stylish design elements. The pool deck will be perched 100 feet above the Strip providing full views of the world's most dynamic street below.
The Harmon's elegant tower will boast 400 hotel rooms and approximately 228 condominium residences from 800 to 4,200 square feet available as one-and-two-bedroom flats and penthouses. The Harmon Residences will be released for sale in mid-2007.

Vdara

Vdara Condo/Hotel will be Project CityCenter’s sole condo hotel.
The 50-story tower will feature open floor plans, along with spacious windows offering spectacular views of the city. Vdara will be home to approximately 1,543 residential units including studios, deluxe studios, one-bedroom suites, in addition to 1 & 2 bedroom multi-level penthouse suites. Amenities will include a luxurious spa and salon, fitness center, pool with cabanas, a destination restaurant, in-room dining, 24-hour concierge service, state of the art conference and meetings facilities, housekeeping and valet parking. Residents will have the option to rent their units on a nightly basis.

The Residences at Mandarin Oriental

Prestige of an internationally renowned hotel and resort brand, unparalleled amenities and striking architectural design with a world-class, five-star hotel and residential experience will define The Residences at Mandarin Oriental. Residents are treated as permanent guests of Mandarin Oriental and indulge in the exceptional services provided by the hotel. This includes access to gourmet cuisine via 24-hour room service, an array of concierge, doorman, housekeeping and valet services, as well as a wide range of dining, entertainment and well-being facilities. The residences will feature approximately 227 condominiums situated on the upper floors of the 400-room hotel tower, with a private owner's lobby and clubroom. Selections will be available in one-and-two-bedroom plans, or two-and-three-bedroom penthouses ranging from 1,000 to 4,100 square feet.

Veer Towers

Veer Towers will offer its residents access to the best of stylish city living. Distinctively designed as two glass towers leaning in opposite directions, it represents a truly innovative architectural accomplishment.
The 37-story towers will each house more than 350 modern condominium residences, ranging from 500 to 2,600 square feet and available in studio, one-and-two-bedroom flats and penthouses. Atop each striking tower, residents and guests will enjoy an amenities floor featuring unparalleled views of Las Vegas. An infinity edge pool, spa, fitness center, cabanas and an outdoor patio for entertaining. Residents can partake in the best of Las Vegas’ upscale dining, sumptuous shopping, exhilarating nightlife and entertainment!

Scenes and improvements are not within the project, are proposed, artist’s renderings only and NEED NOT BE BUILT. Plans, architectural renderings, specifications, pricing and locations are subject to change without notice. © 2006 Project CC, LLC.

Coyote Springs

2007-05-05T21:04:00.000-07:00

With the hundreds of email inquiries we have received regarding Coyote Springs, we are very optimistic toward the success of this project, given the demand for information this community is yielding in its early development stages.

When you sign up, via our website, requesting information for this fantastic community we will send you our exclusive photographs from our personal visits to the area; where we have gleaned first hand information from staff on site.

It has been an experience visiting the site and observing the construction underway. We are thrilled to witness the beginning stages of what will surely be a hit with prospective home buyers!

Coyote Springs will offer variety for home buyers, no matter their choice of lifestyle. You will find a range of homes from the luxurious, yet still affordable single family detached home; to smaller second homes for weekend getaways; to vacation properties to afford an escape; to ranch estates and retirement residences of every description.

If you haven't signed up yet to receive additional information and become one of our Coyote Springs VIP buyer's, offering you great incentives - sign up today!

We anticipate pricing of homes and sites to be released soon with models open toward 2007's end.

Spa Lofts

2006-06-16T07:58:00.000-07:00

The Light Group, creators of FIX, Caramel & Light at the Bellagio, STACK & JET at The Mirage and Mist at Treasure Island are launching a new mid-rise condo project.

Andrew Sasson, founder of the Light Group, has firmly established himself in the real estate industry with the proven success of Panorama Towers, which he has since sold out to former partner Laurence Hallier.

THE PROJECT

Comprised of 3 buildings with 142 total units, is situated in the southwest valley at Rainbow Boulevard & Badura, south of the 215 beltway.

Homes will range from 1276 to 1500 square feet, offering loft style interiors and top of the line finishes. Pricing will start at a reasonable $360.00 per square foot. Expectations are that this project will sell out quickly, with construction scheduled to begin toward the end of this year.

Is the mid-rise the next stylish, affordable mid-point between a high-rise and single family homes?
I believe it's a great alternative!

Las Vegas Market Report ~ THIS TIME YEAR LAST YEAR ~ ENDING MAY 31, 2006

2006-06-02T21:00:00.000-07:00

Sales this year to date: 14,044
Sales same time last year: 17,369
Change: -3,325
Change: -19%

MARKET QUICK LOOK
Supply continues to increase while demand weakens reinforces the notion that the market is persisting in its movement in favor of the buyer.
At the end of May 2005, resale supply was 10,365 units and demand was 3,890 units per month. In May 2006 resale supply is 18,618 units and demand is 2,839 units.
This implies that demand has decreased by about 1,000 units per month while supply has increased by about 8,000 units.

SUPPLY AND DEMAND
Supply (LISTED) for both SFR and CONDO up significantly.
Demand (SOLDS PER MONTH) declined for both property types. This decline in demand is somewhat unexpected when an increase is the general rule.

DAYS SUPPLY
DAYS SUPPLY (days required to exhaust supply given current level of demand) has increased considerably due to the change in demand/supply realities. Note the graph that compares DAYS SUPPLY this year to last year.

FAIL PER MONTH
FAIL PER MONTH (expire, withdrawal, cancellation) somewhat stable with no significant change from last report

PERCENT SELLING
Consequently, selling probability has declined 1% for SFR and 3% for CONDO from last report. Currently, for each SFR that sells, 1.13 will fail. For each CONDO that sells, .84 will fail.
PRICES Price continues to be erratic. Initial list price (LIST PRICE ALL LISTED) declined for both property types from last report. The asking price of sold properties at the time of offer (ASK AT OFFER) has declined for SFR by $1,000 and remained steady (no-change) for CONDO.Closing price (CLOSE PRICE) declined by $1,000 for SFR but increased by $1,000 for CONDO.
This phenomenon would seem to indicate a market that is no longer proceeding in a definite direction (UP) with vigor. More weakness in SFR than CONDO.

The WEAKEST market is Southwest (SFR) at 40% selling, closing $365K with days supply of 263.

The STRONGEST market is East (CONDO) at 67% selling, closing at $202K with days supply of 104. This area and class is experiencing real median price increases. See that median ask is greater than median list. Buyers are buying from the upper side of market.

WORDS OF WISDOM
Good judgment comes from experience. Experience comes from bad judgment. (Unknown)

Welcome To Cindi's Las Vegas Real Estate Blog!

2006-05-18T09:56:00.000-07:00

This is great!