Archive for May 1st, 2005

Las Vegas Condominium Conversion Market – Red Hot!

Sunday, May 1st, 2005

Las Vegas has become one of the major condo conversion markets in the country with an 8 percent share of the $6.5 billion in conversion volume among 10 major metropolitan areas, a report from Marcus & Millichap Research Services shows. Some 17,000 apartment units in Las Vegas are projected to be converted to condos, said Dennis Smith, president of Home Builders Research. About 7,500 are being actively marketed as condos and 10,000 are proposed to be converted. The median price per unit for major conversion properties is $130,000 this year, up slightly from $129,000 in 2004. Prices are expected to rise substantially in the second quarter based on prices for properties under contract. Contact MS Las Vegas Real Estate for more information on this exciting segment of the market for Las Vegas homes.

Wynn Las Vegas: Most Expensive Resort in History

Sunday, May 1st, 2005

Wynn Las Vegas is the most expensive resort hotel ever built. It would be amazing enough if it were the most expensive piece of Las Vegas real estate ever, but this is the world heavyweight champion price tag for a hotel. At $2.7 billion total with a per-room cost of $1 million each, Wynn Las Vegas breaks all previous financial records as it reaches for the ultimate in opulence and style. At MS Las Vegas Real Estate we like to talk about the tremendous growth in Las Vegas luxury real estate, but this is just astounding.