Archive for January 27th, 2005

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.