Archive for July 19th, 2005

Las Vegas Home Prices: Solid and Steadily Climbing

Tuesday, July 19th, 2005

Existing Las Vegas home sales totaled 5,767 in June at a median price of $273,000, a 13.8 percent increase from $240,000 in June 2004. The median Las Vegas real estate price was $300,000, unchanged from May and up 7.1 percent from a year ago. For the year to date, new home sales are up 21 percent to 16,927. The number of available Las Vegas homes for sale on the GLVAR listing service was 15,177 in June, up 30.4 percent from a year ago, including 5,421 new listings. More than half (51.6 percent) of homes sold within 30 days, compared with 48.4 percent in May and 83.8 percent in June 2004.

In Response to John Madonna: Donald Trump in Las Vegas

Tuesday, July 19th, 2005

MS Las Vegas Real Estate is always happy to receive and respond to comments from the blog. Hey John, thanks for the comment! No question about it, Donald Trump is a serious ego-maniac…..and that was before The Apprentice! The guy definetly believes too much of his own press. You’re quite right about his financial troubles back in 1989, and I think Citibank was more worried about what it might do to them if he defaulted than what it would mean for “The Donald”. I’m not sure that his exit from Las Vegas will be as swift as you think though. Remember, this is not a gaming property, this is a luxury high-rise Las Vegas real estate development. One thing you can say about Trump, his success in the luxury high-rise market in NYC and Florida is difficult to argue against. The Las Vegas development is extrememly similar to the Trump International in New York. Anybody been there recently? Is the building as beautiful as it looks in photographs? How about more commentary about Trump in Las Vegas? You can view John Madonna’s comments and others as well by clicking on the “last comments” link right below the calendar on the right side of the blog. Who doesn’t have an opinion about Donald Trump!?!

Housing Bubble or Not? Tell Us What You Think!

Tuesday, July 19th, 2005

Out here in the desert, the market for Las Vegas real estate is being sustained by solid economic and demographic fundamentals. It should also be noted that low interest rates aren’t hurting a bit. Many people thought that the value of Las Vegas homes had inflated into a bubble in 2004. We are yet to see any evidence to support this proposition. How are things in your city? Do you see signs of an inflating bubble or a bursting bubble? Is the comparison between the dot-com boom and the housing boom a fair one in your opinion? Let’s talk about it. Please post your comments and I will promptly respond.