Though the debate on U.S. tax reform is only beginning in Washington, the housing industry can breathe a sigh of relief. This month, President Bush appointed two former senators to head an advisory panel to propose ways to simplify the U.S. tax code. The president’s executive order, however, instructed the panel to recognize the “importance of homeownership” to America (a barely veiled reference to the tax deductibility of mortgage interest on home loans). The National Association of Realtors (among others) feels confident that the president’s instructions amount to a do-not-touch order. Another obvious constituency is homeowners themselves, a huge voter block that politicians would be wary of offending. Questions concerning the ownership of Las Vegas homes may be referred to MS Las Vegas Real Estate at 888-349-2595.

The U.S. economy expanded at the fastest rate in five years in 2004. Growth was spurred by strong consumer spending as well as solid corporate investment. 2004 GDP was pegged by the Commerce Department at 4.4%, up from 3% in 2003. Capital spending by U.S. businesses shot up by 10.3%, close to levels attained in the booming late 1990’s. Inflation news in 2004 was encouraging as well. The index for personal consumption rose a relatively benign 2.2% after rising 1.9% in 2003. The economy in Las Vegas is the best it’s ever been. The nation as a whole is moving forward strongly. Las Vegas homes are an excellent investment all the way around. MS Las Vegas Real Estate is at your service.

The Las Vegas Marathon was run yesterday on a sunny but windy day that challenged the runners, especially during the second half of the race. Gilbert Koech of Kenya won the 26.2 mile event with a time of 2 hours, 13 minutes and 44 seconds. First place prize money was $25,000. Olga Kovpotina of Ukraine won the women’s event with a record setting time of 2 hours, 31 minutes and 53 seconds. More than 8,000 runners from all 50 states and 30 countries competed for $100,000 in total prize money. The objective of the Las Vegas Marathon organizers is to turn the event into one of the top running competitions in the country. Beginning next year, the course will include the Las Vegas Strip itself as well as the Fremont Street Experience downtown. Prize money will be increased as well. At MS Las Vegas Real Estate, we are constantly educating people from all over the country about the real Las Vegas, and what it means to be a resident of this amazing city. Owning Las Vegas homes entitles you to a well-rounded living experience that extends well beyond exciting night life. Give us a call at 888-349-2595 for more information.

Rhodes Homes will unveil new Las Vegas homes at The Collection 50 this weekend. These new models will complete “The Collection” series at the Rhodes Ranch master-planned golf community. Collection 50 Las Vegas homes are top-of-the-line models that feature special appointments such as great rooms, dens, libraries and lots of extra spaces. Six unique home designs are available, beginning with lovely one story homes all the way up to three stories and 3,976 square feet. An extra incentive for prospective residents of Rhodes Ranch is the imminent opening of the “Fun Zone” recreation center, complete with a water park for those hot summer days. MS Las Vegas Real Estate would be happy to introduce you to every aspect of the Rhodes Ranch community.

Sun City Anthem, a 2,100 acre age qualified community in Henderson, was among the best selling communities in Southern Nevada last year with more than 800 sales, according to officials with Del Webb, the developer. In addition, the Anthem master plan of which Sun City Anthem is a part, registered 1,864 sales throughout the year. Sun City facilities include Anthem Center, which hosts more than 40 groups and includes an indoor swimming pool and walking track, a day spa, billiards area, sewing and quilting room, arts and crafts center, wellness center and computer lab. A second recreation center is scheduled to open this spring. Highlights will include an exercise and aerobics room, multipurpose room, woodworking shop, arts and crafts room, multipurpose room, billiards room, community services center and an auditorium. Each Sun City Las Vegas home features “Environments For Living” building technology, which includes energy-saving amenities designed to guarantee comfort and minimize utility bills. MS Las Vegas Real Estate has been presenting Sun City Las Vegas homes to retirees for almost a decade. Put our experience to work for you.

Home Builders Research reports a record 29,248 new-home sales for Las Vegas in 2004. (more…)

Yet another fabulous “Broadway Smash Hit” is finding a home in Las Vegas. This November, “Hairspray” will begin a four year run at the Luxor Hotel. Winner of 8 Tony Awards in 2003, the show is based on a John Waters movie from 1988 that became a cult classic. The show will be re-worked to fit a 90 minute format. The feature role will rotate twice a year from one “name star” to another, similar to EFX at MGM Grand back in the 90’s.

KB Home is building a 4.8 acre equestrian themed park near the corner of Horse Drive and Bradley Road in the Centennial Hills section of the Las Vegas valley. The project is slated for completion in about six months and the opening should coincide with some of the finest riding weather in southern Nevada next spring. The horse park will give Las Vegas home owners a place to enjoy the views of the nearby mountains while riding in a gorgeous park setting with top quality equestrian facilities. The park will make equestrians comfortable by featuring pull-through parking stalls with low dust producing surfacing, nearby hitching posts, a jug filler conveniently located in the parking lot and ?chat? trails leading from the parking area into the arena area. The park has ideal trail and arena surfacing for horses, a shaded corral, plus watering stations and trails that are separated from the roadway. Site visitors will be treated to lit trails, and two of the three arenas will have bleachers and lights for nighttime use. MS Las Vegas Real Estate would be happy to acquaint you with Centennial Hills real estate.

Taking advantage of rising home prices, a record number of Las Vegas home owners are choosing home equity loans or lines of credit as a source of less expensive funds. A home equity line of credit gives the owner of Las Vegas homes the right to borrow up to a certain amount, either all at once or as needed. You only have to pay interest on the amount you actually withdraw. Home equity loans on the other hand, provide borrowers with a lump sum all at once and carry a fixed interest rate. The rise in home equity lending may reflect a more fundamental shift in consumer funding preferences. Home equity lending is competing very effectively with credit cards in the consumer marketplace. For Las Vegas real estate borrowers, the advantages include lower interest rates and tax deductibility. On an interest rate basis alone, home equity lines of credit look especially attractive as compared to credit cards. Interest on the first $100,000 of a home equity line of credit is usually tax deductible. If you own residential real estate in Las Vegas, it may be wise to consult your accountant about the advantages of these options.

Federal approval? Why does a high rise condo building need federal government approval before it can be built? The Federal Aviation Administration in Los Angeles had it’s reasons. Believe me. The Summit high rise condominium project is slated to soar at 923 feet and 73 stories. Condo units go on sale in April in case you want the penthouse at 11,000 square feet and $35 million. If you’ve ever been to Vegas, picture this project at the corner of Las Vegas Blvd. and Sahara Ave. on the north-east corner. From this location, you’re two blocks south of the Stratosphere Tower and right across the street from the Sahara Hotel. McCarran Airport is straight down Paradise Rd. less than 10 minutes away (it used to be 10 minutes, now we have serious traffic like a serious city). You simply cannot build a building that tall anywhere near an airport unless the FAA says you can. Let’s be clear about one thing, the Summit (as well as the Stratosphere Tower) does not impede existing McCarran flight paths in any way. Nonetheless, it’s just so incredibly tall that you can’t build it without asking the federal airplane guys first. We’re talking about Las Vegas real estate with views that will leave you speechless the first time you look out the window of your new Las Vegas home. Have you ever been to the top of the Stratosphere for dinner or pictures? That’s what you’ll see, from the comfort of your couch, every night. Residential real estate in Las Vegas is moving in a whole new direction. Straight up in more ways than one! MS Las Vegas Real Estate has the high rise market clocked cold. It’s a complex array of choices with over 50 projects in the works. You need an expert guide. Give us a call at 888-349-2595.

The Consumer Confidence Index rose in January for the second straight month. Economists had been expecting a slight drop (due mostly to the trade deficit, oil and Iraq), but one must understand that economic forecasting is not dissimilar to weather forecasting in terms of predictive power. The important thing about this data is that it strongly suggests the economy will continue to grow at a steady pace through the first half of 2005. The initial December figure was revised upwards as well (yes, that means they got it wrong the first time). Be that as it may, this is good news for the economy, good news for the labor market and good news for the housing market. And all of this is good news for Las Vegas and the market for real estate in Las Vegas. How so? Believe me, when people feel good about their lives from an economic standpoint, they like to go places and do things that reflect those positive feelings. The number 1 place in America to express how you feel about your wallet or purse is Las Vegas. Don’t doubt it for a second. A strong and growing economy translates directly into tourist revenue for the Las Vegas Strip. This translates directly into more prosperity for employees of the Gaming industry. And that translates directly into the market for residential real estate in Las Vegas. A Las Vegas home is a sound investment in what appears to be (according to the CCI) a sound economy. MS Las Vegas Real Estate is your comprehensive source for professional guidance in the Las Vegas real estate market.

For those of you that don’t realize it, Las Vegas has one of the most awesome NASCAR facilities in the United States. The Las Vegas Motor Speedway is about to fire up for it’s annual Nextel Cup event, but tickets are almost gone! The UAW-DaimlerChrysler 400 is to be held this year on March 13th (couldn’t they have come up with a shorter name?). The race has sold out every year for seven years, there’s nothing new about that. It’s just that the race has never sold out this far in advance! Can you believe it? Only a few hundred single seat tickets remain out of 145,000. The track is owned by Speedway Motorsports Inc. Now there’s a valuable piece of Las Vegas real estate!

The Nevada Small Business Development Center is creating opportunity for individual small business owners in Las Vegas and all of southern Nevada at an ever increasing rate. The Small Business Development Center is conveniently located right in Las Vegas on the campus of the University of Nevada Las Vegas. The Development Center helped create 194 new small business jobs in Nevada in 2004, which is a 136% increase from the 2003 number. The Small Business Center also increased small business capital formation for 2004 by a stunning 167% (5.6 million dollars) compared to 2003. The stated mission of the Small Business Development Center is to help new and existing small firms with support, advice and information. The counselors at the Small Business Development Center not only hold business degrees, but have worked successfully in the business world as well. This is just another example of the “business friendly” atmosphere you will find in the Las Vegas valley (please refer to our blog story on the surge in manufacturing in southern Nevada). Our economic profile is among the very strongest in the country. Support systems are firmly in place to assist people in moving themselves and their businesses to Las Vegas. Resources are readily available for those moving to Las Vegas with the intention of starting a small business. The market for real estate in Las Vegas is a direct reflection of our economic success. Las Vegas understands that when individual people succeed, the entire community succeeds. The foundation for the Las Vegas real estate market (as a solid investment opportunity) is rooted in this community wide effort to foster growth and prosperity. The success of MS Las Vegas Real Estate is a perfect example of the wealth of opportunity in our great city. The choice of Las Vegas as a place to live and grow and prosper is fundamental to the choice to purchase and enjoy a beautiful Las Vegas home. Please contact us at www.mslasvegasrealestate.com if we can be of service.

In one of the largest philanthropic donations in history, The Gates Foundation is donating this enormous sum to assist in the battle for preventable childhood diseases in the developing world. The contribution goes to the International Vaccine Fund and will help fight diseases such as diphtheria, whooping cough, measles, polio and yellow fever in 72 different countries. In 1999, the Gates Foundation gave an identical $750 million that established the Fund itself. The World Health Organization credits the first donation in 1999 with saving the lives of over 670,000 children already. The Gates Foundation is the world’s largest charitable organization with an endowment of 27 billion dollars.

Like it or not, Tiger Woods is returning to the top echelon of golf. Any one who watched him play at Sherwood in December and Torrey Pines this past weekend would have to agree that he is back in form. It appears that those famous “swing adjustments” have been pretty much dialed in. He definitely seems ready to go hunting for majors in 2005. Tiger’s play was far from perfect at Torrey and his putter is still giving him trouble, but his will to win and grace under pressure remain fully in tact. This is not the first time we’ve seen Tiger win a tournament with less than his “A” game. I personally enjoy watching him the most when he has to grind his way to the trophy. It just reminds me that ultimately, winning is 98% mental. By the way, Tiger recorded his very first PGA Tour victory right here in Las Vegas! Why not buy a Las Vegas home right on that very course! Seriously though, golf community living in Las Vegas is some of the very best in the country. Contact MS Las Vegas Real Estate at 888-349-2595 if you’re curious.

The Residences at MGM Grand provide the amenities of a first class hotel combined with the privacy of condominium ownership. The entire development will consist of three 40 story towers. The Residences at MGM Grand feature Studio, One, and Two Bedroom Suites. You can expect plush furniture, luxurious carpeting, stone flooring, exotic baths, granite counter tops, flat screen TV s and high-speed Internet capability. Each Suite also comes complete with elegant linens, towels, dinnerware, and silverware all provided to give you the comforts of a home away from home. Tower #1 is already sold out even though construction is just getting under way (completion mid 2006). Tower #2 is your opportunity to secure one of these magnificent High Rise Las Vegas homes. Call MS Las Vegas Real Estate at 888-349-2595 inquire about this unique opportunity.

The Department of Housing and Urban Development has recently raised 2005 FHA loan limits by 8%. HUD adjusts the loan limits every year to keep pace with housing prices nationwide. The 2005 loan limits are 42% higher than they were just five years ago! A strong indication if there ever was one, that an investment in a Las Vegas home makes good financial sense. The new limits have a number of economic benefits, and not just for Las Vegas home owners. This adjustment will help to create more construction jobs, more consumer spending and increased overall home ownership. Many first time buyers use the FHA program to enter the housing market because the loan requirements tend to be a little easier to satisfy. MS Las Vegas Real Estate would be happy to assist you in the purchase of a Las Vegas home and can help you to take advantage of all that HUD/FHA has to offer in the Las Vegas real estate market.

Residents of the Rhodes Ranch master-planned golf community are about to get a little more wet and have a little more fun. No, they are not going diving for golf balls! The new Rhodes Ranch “Fun Zone” recreation center is slated to open this summer. Owning Las Vegas homes in Rhodes Ranch is about to become more enjoyable than ever. An amusement park caliber Water Park has been added to the plans even though every kid in Rhodes Ranch voted against it! (just kidding) Mr. and Mrs. Rhodes take their kids to amusement parks on family vacations and the they especially love the water parks. For this reason (can you think of a better one?) it was decided that Fun Zone at Rhodes Ranch should include a water park too! In addition to the water park, Fun Zone will have a beautiful fitness center and swimming pool. Fun Zone is designed to be an all-ages entertainment facility where residents from the community can meet and mingle. The Las Vegas real estate market just keeps providing more reasons to get excited. MS Las Vegas Real Estate is your personal guide to the Rhodes Ranch golf and water park community!

Sales offices continue to open at Mountain’s Edge at a steady pace. New opportunities are being introduced each week for beautiful brand new Las Vegas homes. Located in the deep southwest of the Las Vegas valley, the Mountain’s Edge master-planned community is a bold and daring development that seeks to set the standard in Las Vegas real etate for aesthetic beauty and functional living. Mountain’s Edge real estate spans 3000 acres with 500 acres set aside for open space and lush landscaping. The community will be comprised of approximately 12,500 residences from more than 20 builders. Beazer Homes has just opened the sales office for Collina, the first of four neighborhoods the company will develop at Mountain’s Edge. U.S. Home has opened a sales office for it’s Tramanto development. Toll Brothers has opened a sales office for the Madera neighborhood as well. KB Homes is about a week away from opening a sales office for it’s Choco Canyon project. Pardee Homes just celebrated the opening of Montelano with attendance of nearly 800 prospective residents. The opportunity for a new Las Vegas home in Mountain’s Edge is quickly turning into reality for many happy buyers. MS Las Vegas Real Estate is your guide to the evolving opportunities in the Mountain’s Edge master-planned community.

The Las Vegas real estate market, more specifically the Downtown Casino Center neighborhood, is about to take another huge step towards revitalization and re-birth. The original core of this great city is roaring back to life with shopping, entertainment and beautiful Las Vegas homes. These aren’t just any homes, but luxury mid-rise and high rise condominiums reminiscent of both the east and west coast. Due to break ground in May 2005 is Newport Lofts condominiums. As the name suggests, Newport Lofts are designed to capture the architecture and luxury of life in Newport Beach, California. Located right down the street from SoHo Lofts (you guessed it, NYC style), Newport promises a loft living experience to rival the best found in any major city. Floor plans range from 900 to 3,070 square feet. The development is expected to be especially appealing to young professional people that work downtown, as well as part time residents interested in Newport Lofts as a second Las Vegas home. The building will be 23 stories with a rooftop pool and fitness center. Real estate in Las Vegas, it’s not just suburbia anymore! MS Las Vegas Real Estate would be happy to show you all the different ways that you can make Las Vegas home.

Sharon Osbourne has organized a recording effort that will benefit the Save the Children organization as they battle the odds in providing desperately needed tsunami relief all over Asia. Current Las Vegas headliners Elton John and Andrea Bocelli will be collaborating on “Tears in Heaven” which was originally recorded by Eric Clapton for his son when he died. Other artists contributing to the effort include Rod Stewart, Steven Tyler, Gwen Stefani, Josh Groban and many more. The release date for the tsunami relief recordings has yet to be announced. Watch for it in stores, pick it up off the rack, and help Save the Children to restore hope to the lives of so many that are so desperately in need.

I think it’s often the case that when people think about life in Las Vegas as a resident, they still imagine bright neon and spinning roulette wheels. And in fact it is true that you can very easily live that life as a resident of Las Vegas, but it doesn’t have to be that way necessarily. Let me give you some examples of your alternatives. There are so many things about our community that you would recognize from a non-neon point of view. Take high school sports for example. Palo Verde High School is in the Summerlin master-planned community. The Palo Verde Panthers football team just won their first state championship with a 14-0 record. The whole valley is proud of them and the stands were packed for every game. KNPR is our local Las Vegas public radio station. It has just been distinguished by the Corporation for Public Broadcasting as being in the top 10% of all public radio stations nationwide. What about Climb for Life? Former U.S. National champion rock climbers have teamed up with the local medical community for Ovarian Cancer Climb for Life on February 5th. Part of the event includes a Learn to Climb clinic at a local indoor rock climbing center. Did you know that Red Rock Canyon (30 minutes from the strip) is rated #2 in the country for cliff climbing? The truth is, our valley offers an incredibly diverse range of lifestyle choices for those that call Las Vegas home. MS Las Vegas Real Estate would be happy to introduce you to facets of Las Vegas that you probably never knew existed. The real estate market in Las Vegas is among the strongest in the country. It takes more than roulette and neon to accomplish that.

MS Las Vegas Real Estate is amazed and impressed with the rapid development of North Las Vegas as a municipality, and as an integral part of the Greater Las Vegas community. On May 1st, 1946, the City of North Las Vegas was officially incorporated. At the time, the population was a border busting 2,875 people. The population of North Las Vegas today is 170,000 and growing by the day. The real estate market in North Las Vegas has built up a bit to say the least! In fact, one of the newest master-planned communities in the valley is in North Las Vegas. Aliante is a beautiful development and a wonderful place to purchase a Las Vegas home. North Las Vegas has been known for years as the nerve center for light manufacturing and transportation services in the Las Vegas valley. More recent arrivals in the business community include data processing, medical, aerospace and automotive. The market for real estate in North Las Vegas continues to benefit strongly from business and residential expansion. MS Las Vegas Real Estate has over a decade of experience in North Las Vegas. Put our knowledge to work for you.

Christina Kwan is really Michelle’s cousin and she is beautiful, but that’s not why she’s a knockout. Christina is a boxer, and I wouldn’t joke around with her about it if I were you. Christina Kwan is the world amateur champion in the 95 pound class. The 2008 Olympics will be the first to include women’s boxing and Christina is looking to land some solid punches and the gold medal. She defends her title in Colorado in March at the U.S. National Championships. Her nickname is “School Girl” because Christina attends the University of Nevada Las Vegas. She’s about to get her master’s degree. Pretty incredible girl.

McCarran Airport in Las Vegas is adding their contribution to the record books for 2004. The previous annual record of 36.9 million passengers funneling through the airport was surpassed in just 11 months in 2004. We hit the 38 million mark for the year before the month of November was even over! The final count for 2004 is being tallied, but is sure to exceed 40 million passengers. These figures also represent a 14% improvement over last year. What does this mean for the Las Vegas real estate market? It’s virtually impossible to have a strong market for Las Vegas homes without a strong local economy to underwrite it. The Las Vegas economy is hitting hard on all cylinders, and the Las Vegas real estate market is following in lockstep. Sure, many of these record breaking airport passengers are tourists that come for just a few days to party and gamble. But the people that provide services to them during their stay are making a good living and investing in their own Las Vegas home. Incidentally, Las Vegas is also developing a solid manufacturing base outside of Gaming (check our other blog entries for more on this exciting new trend) that is playing a growing role in the development of this great city. The market for Las Vegas homes is not a bubble waiting to burst. Las Vegas real estate is a solid market underpinned by a solid economy. MS Las Vegas Real Estate is your personal guide in the market for residential real estate in Las Vegas.