Archive for January 18th, 2005

The Augusta Collection at Silverstone Ranch

Tuesday, January 18th, 2005

Pulte Homes introduces the Augusta Series of Las Vegas homes at Silverstone Ranch. This outstanding collection is comprised of four single-story home designs that range in size from 1913 to 2807 square feet. These Las Vegas homes are offered in a master-planned guard gated community surrounding the stunning Silverstone Golf Course. The interior designs are intended to exude warmth and comfort and understated elegance. The level of technology built into these Las Vegas homes is impressive as well. Every Augusta home exceeds the EPA’s Energy Star requirements. Pulte offers a three year heating and cooling energy use and comfort guarantee on every home. This is an especially attractive offer in warm desert climate. It can be a great relief to get a reasonable power bill in July when the temperature is 108 degrees. Other amenities include a 6 acre park, basketball, tennis courts and playgrounds. Please contact MS Las Vegas Real Estate for more information.

Vince Neil Marries in Vegas….we're serious!

Tuesday, January 18th, 2005

Former Motley Crue front man Vince Neil got married in Las Vegas last week at the Four Seasons Hotel. Don’t tell me you didn’t know that Vegas had a Four Seasons! Just tell me that you didn’t know that Vince got married in Las Vegas, because I didn’t know either until I saw it in the paper. MC Hammer officiated in the ceremony, for real. See? Now you think I’m lying!! I’m very serious about Vince and MC. Ask Dennis Rodman or Tommy Lee, they were there too. You’ll never guess who wasn’t there….the original best man! Randy Kubota was supposed to do the honors, but he’s in the hospital with very serious injuries. A couple of weeks ago he was at a party at Vince’s house, and after he left, some one pushed him out of the car! Yes it was moving! They found him in a drainage ditch somewhere in LA. Vegas baby, gotta love it.

Las Vegas Real Estate: The California Connection

Tuesday, January 18th, 2005

Webster’s dictionary defines a symbiotic relationship as one that is “the intimate living together of two dissimilar organisms in a mutually beneficial relationship”. How can you say it any better than that? There can be no doubt but that California and Las Vegas are radically dissimilar organisms. It’s equally the case that the relationship is mutually re-enforcing in an economically dynamic way. In no part of the Las Vegas economy is this more true than residential property. Before we examine the reasons, let’s take a quick look at the current status of the California real estate market.The West Coast is absolutely smoking, no question about it. The median price of a California home increased 23% from a year ago and now stands at an amazing $473,000. The month of November saw a record breaking number of sales of single family homes. What is driving this demand? A strong economy that continues to create strong consumer demand, combined with the mortgage rates that remain encouragingly low by historical standards. In short, a record year for home sales and home prices. The best of both worlds. Southern Nevada (Las Vegas and vicinity) has a residential real estate profile that more than matches California. The 2004 Las Vegas housing market shattered all previous records for home sales and price appreciation. The best of both worlds. No coincidence here. Just take a look at the map. Las Vegas is 45 minutes by plane and 4 hours by car from anywhere in Southern California. Geography is the basis for the symbiotic relationship that sets the theme for this article. Hanging around out in the desert is fine as long as you are in the backyard of the worlds fifth largest economy. That’s right, the State of California is the fifth largest economy in the world. How does this benefit Las Vegas residential real estate specifically? At MS Las Vegas Real Estate, we are constantly working with California based investors that want to expand their holdings to include our market. What kind of opportunities do they find? Let’s begin with median prices. As you now know, the median price of an existing California home is $473K. The median price for an existing home in Las Vegas is approximately 250K. An investor that cashes out a California property can realistically turn around and buy two homes for the same money in Las Vegas. Considering the 53% price appreciation of Las Vegas homes in 2004, this is an option that many investors found attractive. Real estate portfolio adjustments of this nature require a highly liquid market environment. Again, the volume of home sales broke all records in both states last year. The ability to liquefy equity gains in both markets remains impressive to say the least. Symbiosis at work. Not to be forgotten is the new resident to the Southwestern United States who considered California only to be overwhelmed by sticker shock. The MS Las Vegas Real Estate team is working with clients on a regular basis who seek to enjoy the close proximity of Southern California while benefiting from the pricing and tax benefits of living in a Las Vegas home instead.

Las Vegas High Rise Condos: The Donald Makes his Mark in the Desert

Tuesday, January 18th, 2005

Located adjacent to the newly renovated Fashion Show Mall and directly across the street from the new Wynn Las Vegas Resort, Trump International Towers Las Vegas looks destined to set the standard as the flagship of the new Las Vegas high rise condo community. The original plans called for one 64 story building (645 feet) that would combine hotel rooms and luxury condos into one incredible package as only Donald Trump can do.Groundbreaking on the first building is scheduled for April 2005 and almost 1000 of the buildings 1282 units are spoken for already! For this very reason, it was announced on January 4th that an identical second tower would be added to the project as well. Mr. Trump assures that Tower #2 will be just as spectacular as the first building. Both buildings are modeled after the Trump International Hotel and Tower in New York. This of course includes 24K gold glass with white accents that are sure to sparkle and dazzle in the bright Las Vegas sun. Please contact the MS Las Vegas Real Estate Team for more information on this world class property.