Archive for July 6th, 2007

Watch out Las Vegas – Here come the High Rise Condos!

Friday, July 6th, 2007

The Las Vegas Review Journal filed the following story about how the Las Vegas High Rise Condos market is getting ready to explode:

“The housing market in Las Vegas is entering a period of extraordinary transition with the first real influx of high-rise condominium sales in May, a local researcher said Wednesday.

Larry Murphy, president of SalesTraq, said May’s housing statistics offer “intriguing clues” as to why the much ballyhooed housing bubble has not burst in Las Vegas.

While the inventory of homes for sale reached an all-time high of 20,515 in May, about double from a year ago, it’s a supply of six to seven months based on sales through the Multiple Listing Service. That’s a relatively healthy market, Murphy said.

Prices have yet to diminish, as many predicted at the beginning of the year, he said.

Median resale prices are hovering around their all-time high at $284,950, a 5.5 percent increase from May 2005, and new home prices jumped 11.8 percent to $324,757. The number of new home subdivisions in the market declined for the second consecutive month.

Forty-eight high-rise condos closed escrow in May, including 40 at SoHo Lofts in downtown Las Vegas. That compares with 64 total sales in 2005 and 11 through April of this year.”

You can read the rest of the story here.

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Las Vegas Community Blood Drive

Friday, July 6th, 2007

The Greater Las Vegas Association of Realtors (GLVAR) is sponsoring the Las Vegas Community Blood Drive on Monday, August 20, 2007 from 9:00am to 2:00pm. The blood drive will take place in the GLVAR offices at 1750 E. Sahara Avenue, Classroom B.

Please take this opportunity to give back to the community because as we all know blood donors save lives!

During your lifetime you or someone you know may be in need of blood and this is your opportunity to make a difference in your community. This is a simple procedure that will only take approximately an hour of your time.

The Michelle Sterling Team at Prudential Americana Group, REALTORS fully supports this initiative put forth by the GLVAR. We fully encourage everyone to take part in the blood drive and to pass along this important information to your friends and family!

Please mark your calendars and we’ll see you there!