Archive for January, 2005

Tax Reform and the Housing Sector

Monday, January 31st, 2005

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.

Economic Growth in 2004: The Best in 5 Years!

Monday, January 31st, 2005

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.

39th Annual Las Vegas Marathon

Monday, January 31st, 2005

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 Ranch Completes "The Collection" Series of Golf Homes

Sunday, January 30th, 2005

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: Great Success in 2004!

Sunday, January 30th, 2005

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.

Las Vegas Real Estate: New-Home Sales Record for 2004

Saturday, January 29th, 2005

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

Broadway in the Desert: "Hairspray" Comes to Vegas!

Saturday, January 29th, 2005

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.

Centennial Hills Real Estate: New Equestrian Theme Park

Friday, January 28th, 2005

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.

Tapping into Home Equity: Time to Cut Up your Credit Cards?

Thursday, January 27th, 2005

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.

The Summit High Rise gets FAA Approval

Thursday, January 27th, 2005

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.