Las Vegas Real Estate Blog - News on Las Vegas Homes

This Week in Las Vegas Real Estate

Michelle Sterling — Sat, 10 May 2008 00:18:08 +0000

Opportunity continues to present itself in the Las Vegas real estate market! Home prices continue to fall and properties owned by banks and lenders accounted for more than half of the homes sold in April.

We are seeing many banks purposely pricing under market value in order to entice Buyers to take action. It seems to be working. It appears that if a home is in a decent area, in good condition and under-priced it will sell in a matter of days and there will be multiple offers. These types of properties are not staying on the market long!

In addition to very aggressive pricing by the banks, interest rates have moved to the down side this week as well. 30-year fixed rates today were between 5.5% and 5.8%.

The combination of prices reminiscent of 2003-2004 and very favorable interest rates absolutely make a strong case for purchasing a Las Vegas home right now!

Las Vegas is the #1 Convention Destination by Far!

Michelle Sterling — Thu, 08 May 2008 03:00:35 +0000

Tradeshow Week magazine recently released the 2007 Tradeshow Week 200 list of largest trade shows in North America, which showed that Las Vegas once again hosted the largest number of shows at 44. Following Las Vegas were Orlando with 24 and Chicago with 20. This marks the 14th consecutive year that Las Vegas has topped the list. Is it any wonder that Wynn Resorts has just announced plans to build a 1.8 million square foot exhibition hall? Las Vegas completely dominates the Tradeshow business and the location of Wynn Las Vegas, combined with the opulence of the property, make it a perfect venue for convention-size business functions.

On a related note, The U.S. Department of Commerce announced that in January 2008, visitation to the United States, as well as spending by those visitors, continued to rise, with 3.4 million international visitors, an increase of 11 percent over January 2007. Travel and tourism is a $1.3 trillion industry in the United States and Las Vegas, Nevada is at the heart of the action. We are far and away a top destination for international leisure travel from every corner of the globe. The weak US Dollar is a boon for Las Vegas, no question about it.

Las Vegas Real Estate: Preparation for the Offer

Michelle Sterling — Fri, 02 May 2008 01:46:48 +0000

Let’s assume that we just previewed Las Vegas real estate all week and you found the property you want to make an offer on. Now what? What do you need to have with you in order to be prepared to submit your offer?

• Checkbook – For Earnest Money Deposit (Foreign Nationals or Sight Unseen Buyers may wire transfer within 24 hours of accepted offer)

• Getting a loan? Pre-Approval letter from a local lender.

• Purchasing with cash? Proof of funds, either a letter from the bank printed on bank letterhead or a print-out of your bank statement with the account number blocked out.

Also - it’s critically important to understand your financial overview realistically. What monthly payment fits into your budget? Don’t forget to include extra items such as taxes, homeowners insurance, homeowner association dues, etc.

Additionally - it’s important to be clear about how much money is needed for closing (down payment, escrow fees, etc).

It’s also prudent to start thinking about the logistics associated with an accepted contract. Consider these issues as you move forward towards the purchase of your new Las Vegas home.

• Recommended – A home inspection
• Recommended – An insurance quote from your insurance agent (request a copy of the CLUE report)
• Recommended – A home protection plan
• Final Walk Through
• Closing and Settlement Appointment
• Moving Dates

New Lower Prices at the Tuscany Residential Village

Michelle Sterling — Tue, 29 Apr 2008 05:06:55 +0000

The Tuscany Residential Village is a master planned golf community located in the southeastern section of the Las Vegas Valley. Guard-gated and beautifully landscaped throughout, Tuscany is anchored by the Botticelli Marketplace, a 35,000 square foot Recreation Center and the 6,906 yard Tuscany Golf Course. Tuscany Village Association fees are currently a very reasonable $140 a month and there are no SID/LID fees.

New pricing has just been announced for the Zanetti neighborhood of Rhodes Homes at the Tuscany Village. The new Zanetti pricing on its five floor plans starts at just under $200,000 for a single-story two bedroom home with two baths, great room, gourmet kitchen island and two-car garage. Each Tuscany home at Zanetti is offered with optional French doors in the master bedroom and a fireplace in the living room. Options for additional bedrooms, cabinets, laundry sinks and linen closets are offered per plan.

The Michelle Sterling Las Vegas Real Estate Team invites you to contact our Tuscany real estate specialist Michael Antos for further information on this beautiful Henderson golf community. He can be reached at 888-349-2595 or 702-373-3240 at your convenience.

The Continuing Attraction of Summerlin Real Estate

Michelle Sterling — Thu, 24 Apr 2008 05:57:42 +0000

Despite the fact that Las Vegas real estate is going through a painful adjustment, the master-planned community of Summerlin homes continues to impress and inspire. Summerlin currently boasts more than 95,000 residents after commencing development 18 years ago. Master-plan amenities include nine golf courses, upscale shopping centers, high-end boutiques, restaurants galore in every price range, cultural facilities, prestigious office parks and more than 100 actively selling floor plans. The market for both new and resale Summerlin real estate is among the most active in Southern Nevada.

Outdoor recreation activities are the hallmark of the Summerlin residential experience. The community is home to more than 100 parks (many with fantastic ball fields) and nearly 150 miles of desert-themed trails for walking, jogging and cycling. Nearby Red Rock Canyon National Conservation Area provides scenic and challenging hiking, mountain biking and rock climbing. Ready to hang up the sports equipment and hang-out in the middle of some traditional Las Vegas action? Jump on Summerlin Parkway or the I-215 Beltway and it’s a 20 minute ride to the Las Vegas Strip. Once you hit Las Vegas Boulevard…anything goes…

Red Rock National Conservation Area: Part II

Michelle Sterling — Wed, 16 Apr 2008 03:14:37 +0000

Red Rock Canyon National Conservation Area recently hosted the fifth annual Red Rock Rendezvous presented by Mountain Gear and North Face. This world-class rock climbing event and festival was attended by over 1,000 climbers from across the country, including some of the most accomplished climbers in the world. Las Vegas, Nevada is proud to play a starring annual role in the process of raising the profile of rock climbing as a sport. The majestic cliffs of Red Rock Canyon give us that opportunity!

Since its inception five years ago, Red Rock Rendezvous has offered clinics for advanced, intermediate, and beginning climbers. The 2008 climbing festival also raised more than $15,000 for various non-profit organizations including Friends of Red Rock. This terrific local event provides a great opportunity for Las Vegas residents to enjoy a beautiful weekend at Red Rock Canyon and to sample a sport they can enjoy in their own backyard year round. Next year’s event will feature an expanded version of the Intro to Climbing classes that will include all your gear! Las Vegas, Nevada is so much more than gambling and nightlife. The truth is, Southern Nevada is one of the best places in the country to enjoy outdoor recreation and sport. The Michelle Sterling Las Vegas Real Estate Team is always talking to clients about the Las Vegas that awaits new residents “beyond the neon”.

Las Vegas Real Estate: International Investors Make Their Play on a Wide Open Field

Michelle Sterling — Mon, 14 Apr 2008 05:13:07 +0000

The current exchange rate environment combined with radical repricing in the residential market make the Las Vegas investment opportunity highly attractive for international investors. For overseas players with deep pockets and realistic time frames, today’s conditions provide the “perfect storm” in which to make their moves. Internationally recognized as the global capital of opulence, decadence and entertainment, no one doubts the long-term future of Las Vegas as a money maker from virtually every point of view (residential real estate included). The numbers tell the story best; excellent population growth, massive investment in new strip resorts, job creation that other cities could only dream of and dirt cheap prices due to rampant speculation by the uneducated masses. Sophisticated financial operators make their careers by striking aggressively in these very types of circumstances. Different players are making their moves in different aspects of the market. Major builders have dangerously overextended themselves and are now forced to offer incredibly attractive terms on new Las Vegas homes. The market for high rise Las Vegas luxury condos? It’s a highly opportune time for aggressive negotiation as yesterday’s pie-in-the-sky buyers squirm and beg to get out of their contracts and units fall into repossession left and right. The market for resale Las Vegas homes? Considering the fact that almost 50% of homes for sale are vacant and Las Vegas foreclosures are among the highest in the country, the opportunities on the buy side are simply huge.

Michelle Sterling Team member Michael Antos is more than qualified to represent foreign national investors. With an extensive portfolio of international clients, you can expect Michael’s in-depth experience and negotiating skills to play a critical role in maximizing your Las Vegas real estate opportunities. He can be reached toll free at 888-349-2595 or michaelantos@mslasvegasrealestate.com

Red Rock Canyon National Conservation Area

Michelle Sterling — Fri, 21 Mar 2008 00:07:08 +0000

The Red Rock Canyon National Conservation Area has recently completed a ceremonial groundbreaking for a new $23 million visitors’ center. Projected date for completion is 2010 in a location just north of the current center, which features informative multi-media exhibits and a staff of knowledgeable guides from the Bureau of Land Management (BLM). Don’t forget to stop-by the book store and gift shop where all proceeds go towards supporting this stunning national treasure.

Red Rock Canyon was actually the very first Congressionally designated national conservation area (1990) in the State of Nevada. Today, Red Rock Canyon is home to nature lovers, sports enthusiasts and anyone seeking outdoor recreation and adventure. The hiking and rock climbing is some of the very best in the western United States. Visitors can also enjoy a 13-mile scenic driving loop that is open every day from 6am until dusk. The Scenic Drive offers numerous parking areas for sightseeing and photography, including some truly spectacular overlooks. Additionally, several short hikes featuring a diversity of challenges and scenery are accessible from the scenic loop.

The Summerlin master-planned community has the distinction of being the next door neighbor to Red Rock Canyon on the western edge of the Las Vegas Valley. Summerlin real estate encompasses 22,500 acres with about 9,000 acres still remaining to accommodate future growth, including the community’s urban core of Summerlin Centre. The Michelle Sterling Las Vegas Real Estate Team has been doing business in Summerlin for over a decade. Our knowledge and experience is at your disposal.

Las Vegas Academy Theatre Presents Cats

Michelle Sterling — Wed, 20 Feb 2008 22:21:57 +0000

The Theatre department at the Las Vegas Academy of International Studies, Performing and Visual Arts is known nation wide as being one of the most prestigious high school theatre programs in the United States. With a substantial budget and a very respectable number of season subscribers, the Academy Theatre Department is able to create productions that have been called “Better Than Broadway” by local critics and patrons.

Every February, the Theatre department produces their largest musical of a six show season, in which there are usually more than 150 students working to create the best production possible. Large main-stage productions in recent seasons have included Les Miserables, Jekyll and Hyde, Beauty and The Beast, Thoroughly Modern Millie, and Miss Saigon to name a few. This year, Las Vegas Academy Theatre is tackling what is considered to be one of the most expensive shows they have ever produced, “Cats : Las Vegas”.

The 1981 musical, Cats, by Andrew Lloyd Webber was the second longest running show on Broadway, opening in 1982 at the Winter Garden Theater in New York City, and closing in June of 1997 after 7,458 performances. Webber’s plotless musical is known for its intense dance and is commonly forgiven for the banausic music and lyrics derived from the poetry of T.S. Elliot, simply because of the shows fun nature. And this version of Cats is colorful, fun and an all around good time.

Co-Director’s Glenn Edwards and Tammy Pessango decided to take the Academy’s production of Cats in an all new direction by setting the show in the historic Neon Graveyard in Las Vegas. Set designer Thomas Bumblauskas has given us a glamorous yet run down look to the setting by creating replicas of famous signs from old Las Vegas that acts as a hang-out for the “Jellicle Cats” of Las Vegas. The set is complete with the Silver Boot, a Lady Luck slot machine replica, A Caesar’s Palace sign, A Horseshoe from Binion’s Horseshoe, a Stardust sign, and many many more Las Vegas icons that can be found in the Neon Graveyard. The characters of the show have also been given iconic looks through costuming by Terry McGonigle and character directions. Personalities in the show include Las Vegas Mayor Oscar Goodman, Danny Gans, Siegfried and Roy, Liberace, Cirque Du Soleil Dancers, Chippendales, and The Blue Man group to name a few.

It’s not just the show that brings Las Vegas history to life, but also the venue in which it is being performed in. Cats: Las Vegas is playing in the Las Vegas Academy Performing Arts Center Theatre, which was formerly the theatre for the original Las Vegas High School. The Performing Arts Center is the oldest running theatre in Las Vegas with a construction date of 1948.

With a production price tag hovering at around $125,000, Cats: Las Vegas is one of the most expensive and elaborate productions the Las Vegas Academy Theatre Department has ever put on. The show is entirely student run and operated and with a cast of 58 singers and dancers, a 34 member pit orchestra, and an extensive technical crew, this production truly gives numerous Las Vegas Academy students opportunities to work on creating a wonderful piece of art enjoyable for the whole family.

Las Vegas Review Journal critic Anthony Del Valle was quoted as saying that the “Fun of Cats: Las Vegas is Infectious”. The show is a perfect family production and like most Academy Theatre shows, is considered the best bargain ticket in town.

Cats: Las Vegas will be playing at the Las Vegas Academy Performing Arts Center on the East corner of 9th Street and Clark Avenue on February 21, 22, and 23 at 7:00pm, with 2:00pm Matinee performance on Saturday, February 23, 2008. Tickets for evening shows are $20 and matinee tickets are $15 a piece.

If you have children, the cast of Cats: Las Vegas is doing a meet and great “Meow Mixer” on Saturday the 16th and Saturday the 23th at 12pm, where children will have the opportunity to play with the “kitties”, win prizes at games, and get their picture taken with the Cats of their choice. Tickets to the “Meow Mixer” are $40 but that includes your ticket to the Matinee performance following the “Meow Mixer”. To purchase tickets, visit www.starticketsplus.com or go to lvacademytheatre.org/cats. You can also purchase tickets by calling 1-800-585-3737.

Team Shelby at the Las Vegas Motor Speedway

Michelle Sterling — Mon, 18 Feb 2008 07:02:04 +0000

Carroll Shelby and Ford Motor Company came together back in 1962 to create Shelby Automotive, which in turn transformed the Ford Mustang into a muscle car of historic proportions. The magic continues right here in Las Vegas as Mr. Shelby celebrates his 85th birthday and the introduction of the 2008 Ford Shelby GT500KR.

Each Shelby GT500KR starts out as a GT500, built at AutoAlliance International Inc., in Flat Rock, Michigan. From there, the GT’s are shipped to Shelby Automobile’s facility at the Las Vegas Motor Speedway. Every GT500KR is then outfitted with a Racing Performance Pack, custom exhaust and a special short-throw shifter. Further additions and refinements create a hand customized product that gets delivered to each customer in an enclosed transporter. Pretty serious stuff!

First unveiled at the 2007 New York International Auto Show, the new GT500KR packs a 5.4-liter supercharged V8 engine with total output of 540 horsepower. The 500KR (King of the Road) is already being touted as the most powerful production Mustang ever produced. As you might expect, the new GT will be available (this spring) at specially selected Ford dealerships only. Pricetag? About $60,000 (if you can get one). Production is limited to 1,000 units so you really shouldn’t hesitate if you’re serious about owning this monster.

About Shelby Automobiles, Inc.

Shelby Automobiles operates a state-of-the-art manufacturing facility at Las Vegas Motor Speedway in North Las Vegas. The company builds the Cobra 427 S/C, Cobra 289 FIA and street Cobra component vehicles, as well as a variety of pre and post-title Shelbys based on the current generation Ford Mustang. The website address is www.shelbyautos.com.

It’s All About the Opportunity - Part II

Michelle Sterling — Fri, 15 Feb 2008 00:32:23 +0000

The hits just keep on coming! There is so much positive news about the current strength and future potential of Las Vegas, Nevada that we’re just going to make a list because the data speaks for itself. One record after another was broken in 2007 and the next five years look stellar. Take a look for yourself….

1) 2007 sets a new all-time record for visitors to the hottest vacation/business destination on the planet. 39.2 million people showed up to do the “Vegas thing” last year, an increase of 300,000 from the previous record.

2) The 2007 visitation record was the FOURTH YEAR IN A ROW that we set a record for tourist attendance. What else can you say?

3) Las Vegas tied the all-time room occupancy record (first set in 1996) in 2007 by posting a breathtaking figure of 90.4%. Why breathtaking? Average hotel occupancy percentages on the Las Vegas Strip are a stunning 27 points higher than the national hotel-industry average.

4) It should be no surprise that Gaming Revenue set a new all-time record as well. A cool $10.9 billion hit the casino cages across Clark County in 2007. Nice work if you can get it!

5) $40 billion worth of new hotel/resort development is slated for completion between now and 2012, with 9,000 (out of a total of 40,000) new hotel rooms coming on-line in 2008 alone. How many new jobs might 40 billion dollars and 40,000 hotel rooms generate? About 110,000…give or take.

6) Entrepreneur.com recently featured Las Vegas, Nevada as one of the four “Top Places to Buy” residential real estate in the entire country for 2008. Go figure…

7) Just last week, Forbes.com saw fit to include Las Vegas real estate in their Top 10 List of “Best Cities for Bargain House-Hunters”. What a surprise…

Las Vegas Homes: It’s All About the Opportunity

Michelle Sterling — Tue, 05 Feb 2008 22:57:56 +0000

**The foreclosure problems in Las Vegas stem from the unaffordable terms of the mortgages themselves, rather than from local economic conditions** CNN Money.com

The Las Vegas real estate market is TEMPORARILY DISTORTED due to outrageously incompetent LENDING parameters from 2003 through 2006…..

This is a CRITICAL issue to clearly understand. Las Vegas real estate represents a tremendous opportunity for savvy buyers that understand fundamental value. Buyers are firmly in control (for now) and scoring fantastic deals on Las Vegas homes left and right. Major market corrections necessarily provide outsized opportunities for smart operators that didn’t fall for the hype and borrow money (mortgages) that made NO sense.

The underlying economy in Southern Nevada is structurally sound and about to get stronger than ever. The article link at the bottom of this post makes the case for future strength very persuasively. Not enough to convince you? Drive down the Las Vegas Strip and count the construction cranes. Don’t live anywhere near Las Vegas at the moment? Google Earth will show you everything you need to see!

Buyers who wait in 2008 will stand in line in 2009

The Las Vegas Business Press just published an article aptly named The Boulevard Formula by Howard Stutz. It’s well worth your time to read.

Click Here to Enjoy this Highly Informative Article

The Ridges in Summerlin Debuts Club Ridges

Michelle Sterling — Tue, 05 Feb 2008 00:19:47 +0000

The Ridges could well be considered the crown jewel of luxury real estate in Summerlin. This exclusive guard-gated community features some of the most dramatic and stunning natural topography in Southern Nevada and offers unparalleled views of the entire Las Vegas valley. It was just a few years ago that Forbes magazine named The Ridges in Summerlin as one of the three most exclusive gated communities in the entire country. Since then, The Ridges has continued to distinguish itself by adding to the already spectacular selection of amenities. Case in point; Club Ridges, a private fitness facility for the exclusive use of Ridges’ residents. The new clubhouse measures nearly 9,000 square feet and includes a 2,400 square-foot fitness room as well as a 1,300 square-foot aerobic area. Exterior amenities include five lighted tennis courts, including one championship court, a family style resort pool and a year-round, 82-degree, heated lap pool. Michael Antos from The Michelle Sterling Las Vegas Real Estate Team is your trusted source for guidance and advice in The Ridges luxury golf community. He can be reached at 702-373-3240.

Las Vegas Ski & Snowboard Resort: No Kidding!

Michelle Sterling — Wed, 30 Jan 2008 23:25:06 +0000

Would you believe that Las Vegas offers great skiing and snowboarding just 45 minutes from the MGM Grand? When I try to tell people this they think I’m just kidding around. But the Las Vegas Ski and Snowboard Resort is the real thing, with a base lodge that sits at 8,500 feet while two main chairlifts take skiers and snowboarders up another 1,000 feet. Believe it or not, you can see the snow capped summit from the Las Vegas Strip, provided you actually leave the blackjack table and go outside! The ski resort is located within the Humboldt-Toiyabe National Forest and operates under a special-use permit of the U.S. Forest Service.

Enough about the location, how are the conditions? For starters, even though Las Vegas receives 325 sunny days a year from mother nature, that still leaves 40 days a year for other weather conditions. Case in point; LV Ski & Snowboard reports 31 inches of new snow over the last 5 days! The current base is 57 inches of packed powder and February and March are the best months of the year for new snow. The resort also features The Big Horn Cafe, The Bristlecone Bar and The Sports Shop with a full selection of high-quality rental items. Snow enthusiasts can choose from 11 total trails and a 500 foot intermediate half-pipe.

Although many people don’t realize it, one of the best reasons to purchase a new Las Vegas home is the wide range of outstanding opportunities across Southern Nevada to enjoy outdoor sports. The Michelle Sterling Las Vegas Real Estate Team is fully prepared to present every facet of our outstanding city. Give us a call at 888-349-2595.

The Palazzo Las Vegas Opens with Great Fanfare and 7,550 Great New Jobs!

Michelle Sterling — Wed, 23 Jan 2008 03:47:14 +0000

The Las Vegas Strip formally welcomes The Palazzo to the neighborhood. Soaring 50 stories skyward at the corner of Las Vegas Boulevard and Sands Avenue, The Palazzo topped-out at $1.9 billion by the time they opened the doors. What’s the draw? Bling bling baby, but in an elegant and somewhat understated way. As you would expect, The Palazzo provides world-class restaurants and palatial shopping led by the flagship of the property, Barney’s New York. In addition, 20 luxury brands make their Las Vegas debut at The Palazzo, including Chloe, Tory Burch, Christian Louboutin, Diane Von Furstenberg, Van Cleef & Arpels, Catherine Malandrino, Anya Hindmarch and Michael Kors. Not enough? Roll with Jay-Z at 40/40 Club, relax at the world’s most opulent Canyon Ranch Spa or score a new ride at the on-site Lamborghini dealership. The Palazzo Las Vegas exemplifies the ultimate in luxury and sophistication. Despite providing 3,000 spacious luxury suites, reservations are definitely recommended.

What about those 7,550 new jobs? Believe me, this is just the opening salvo in a five year expansion of historic proportions on Las Vegas Boulevard that will add over 100,000 units to the employment tally. The Michelle Sterling Las Vegas Real Estate Team couldn’t be more excited for the future of the residential real estate market in Southern Nevada. Just like politics, all real estate is local. It’s the economy, stupid! Everytime I hear that phrase I just smile because the Las Vegas economy is about to hit the afterburners for another multi-year speed trip. Not sure what I mean? Las Vegas builds massive resorts and mini-cities in 18 months or less. Once they’re open….they’re full….I mean 92% of the time, which was the 2007 occupancy rate, which is stratospheric. Economic meltdown? You should have been at opening weekend at The Palazzo!

The Michelle Sterling Las Vegas Real Estate Team at Prudential Americana Group, REALTORS

Michelle Sterling — Tue, 22 Jan 2008 05:25:12 +0000

My partners and I brought our Internet Real Estate Team to Prudential Americana Group, REALTORS in October of 2006. During the process of deciding which Brokerage to affiliate our Team with, we quickly learned that Prudential Americana not only understood our operation and our business goals, but that they already had proven systems in place to help augment our business plans. During the interview process Prudential stood out as the forward thinking real estate company. No one else even came close to understanding just what it is we do, and in our world of Internet Real Estate, it is critical that we have a brokerage partner that is fully prepared to embrace, support and adapt to our rapidly changing business model.

New systems like Buyer Acquire and Online Seller Advantage are just two of the innovative tools that are already proving to increase customer satisfaction as well as lead conversion. Quality ongoing training for our Team of 13 Agents is a critical component of our success, as well as a key factor in our ability to attract progressive, productive agents to our Team. In the short time we have been at Prudential Americana, we have already added 5 top-shelf Buyers Agents. Our goal to steadily add high caliber agents is being met and exceeded because of the reputation and culture Prudential Americana creates everyday. It would be difficult to imagine a more positive real estate environment than Prudential Americana. The tools and systems they provide increases our productivity in very measurable ways every day, and the people and the culture make the real difference as well. For the Michelle Sterling Las Vegas Real Estate Team, Prudential Americana is home.

Brand New Las Vegas Homes: Great Prices and Great Interest Rates

Michelle Sterling — Sun, 20 Jan 2008 04:54:57 +0000

The Michelle Sterling Las Vegas Real Estate Team has a motto for the new year……

Those who wait in 2008 will stand in line in 2009…..

What do we mean? The economic foundation of Las Vegas, Nevada is stronger than ever. The Las Vegas Strip (the engine of our growth) is slated to expand over the next five years to the tune of $40 billion in new hotel resorts. In case you were wondering, that’s 110,000 new jobs by 2012. You can read all about it on my supplemental Las Vegas real estate blog at Realtor.com. 2008 is the year of opportunity for Buyers of Las Vegas real estate. Check out these deals! Get ‘em while they last……

Brand New Single Family Homes Starting at $153,990 !!

$153,990 - 1,136 sq ft - 2/2 - North
$169,965 - 1,271 sq ft - 2/1 - East
$174,990 - 1,553 sq ft - 3/2 - Northwest
$179,990 - 1,203 sq ft - 2/2 - Northwest
$184,990 - 1,612 sq ft - 3/2 - North
$189,990 - 1,209 sq ft - 2/1 - East
$189,990 - 1,115 sq ft - 2/2 - East
$192,950 - 1,462 sq ft - 3/2 - North
$193,990 - 1,658 sq ft - 3/2 - Northwest

The rate of interest charged on a 30-year fixed-rate mortgage averaged 5.69% for the week ending Jan. 17, down from last week’s 5.87% average. The mortgage averaged 6.23% a year ago.

The 15-year fixed-rate mortgage, a popular refinance option, averaged 5.21%, down from last week’s 5.43%. The 15-year’s average rate stood at 5.98% a year ago.

In Bankrate.com’s most recent mortgage survey, the 30-year fixed-rate mortgage averaged 5.75%, down from 6.31% in the December 26th survey. In fact, the 30 year rate has experienced the sharpest three-week decline in 20 years.

Summerlin Real Estate in the new Mesa Village

Michelle Sterling — Sun, 20 Jan 2008 03:59:08 +0000

Expanding across 500 acres at the base of the Spring Mountains, the newest Summerlin Village is rapidly taking shape. Say hello to The Mesa, which you’ll find at the southern-most point in the Summerlin master planned community. In addition to several residential villages, The Mesa will be home to a 19 acre community park set for completion in 2009. The first community of Summerlin homes at The Mesa is named Ladera, which at full build-out will be comprised of 600 residences. Pricing begins in the low 200’s. Interested in learning more about The Mesa Village? Give us a call for a private tour at 888-349-2595.

Green Technology for Your Home at 2008 International CES in Las Vegas

Michelle Sterling — Sun, 06 Jan 2008 04:11:42 +0000

The International Consumer Electronics Show hits Las Vegas this coming Monday. The world’s largest consumer electronics tradeshow is “going green” this year by showcasing earth-friendly technology at every opportunity. In addition, the show itself is going to great lengths to lead by example. For instance, CES organizers vow to reduce and/or offset the carbon footprint made by the trade-show, which features nearly 3,000 exhibitors and upwards of 200,000 attendees, by insisting on extensive recycling and improved energy usage. To further make their point, The Consumer Electronics Association has arranged with Carbonfund.org to offset the estimated 20,000 tons of carbon attributable to the four day CES extravaganza. Talk about dedication to this years theme!

The environmental benefits of home automation technology will be one of the feature aspects of the CES “green theme”. Numerous computerized smart-systems will be on display that reduce the amount of energy wasted in cooling, heating or lighting a contemporary home. The driving force is the notion of empowering environmentally conscious homeowners to take control of their household environmental footprint in order to manage it more efficiently. The goal is to take the “smart home” concept beyond the purview of tech-savvy custom luxury residences and bring the environmental benefits into the mainstream of home ownership. For example, a company called Lifeware will be showcasing its version of the “brain” at the centre of a smart home. Their product is a $2,500 home server, configurable from a computer or an entertainment system remote, that can talk to wirelessly linked light switches, thermostats and alarms. As you can imagine, Las Vegas homes (that sit in 105 degree heat for four months of the year) could really benefit from these energy-saving technologies.

Allure Las Vegas Ready for Occupancy

Michelle Sterling — Thu, 03 Jan 2008 05:54:36 +0000

Las Vegas high rise condos at Allure Las Vegas are ready for immediate occupancy. The first residents of the tallest luxury high-rise condominium building in Las Vegas (41 stories) are moving-in this week. Allure Las Vegas features 428 units and 15 distinct open floor plans with studio, one, two and three bedroom residences which range in size from 671 to 4,400 square feet. On-site amenities include private library and wine cellar, media room, business center, cutting-edge fitness and 24/hr valet and concierge. Residential features include granite countertops, GE stainless-steel appliances, Italian tile and European-style cabinets. The location of Allure Las Vegas (Sahara Avenue and Las Vegas Boulevard) couldn’t be better and the neighborhood is slated for a multi-billion dollar upgrade over the next five years. The north end of the Las Vegas Strip has become the new center of the action for luxury hotel-resort development and Allure residents are right in the heart of the activity. The spectacular new $3 billion Fontainebleau resort will be walking distance from the lobby of Allure Las Vegas and MGM Mirage has secured 34 acres right across the street from Allure for another CityCenter-style development. Interested in learning more about Las Vegas luxury condo opportunities? We’re standing-by for your call at 888-349-2595.

Please Recycle your Holiday Tree

Michelle Sterling — Sat, 29 Dec 2007 05:11:40 +0000

Please join with the Springs Preserve, the Southern Nevada Water Authority and the Christmas Tree Recycling Committee to protect our environment this holiday season by recycling your tree. The very worthy goal of this effort is to keep the holiday trees out of local landfills where they take up tremendous amounts of space. The recycling program runs until January 15th and there are 15 convenient locations to choose from. Many locations are actually open 24 hours a day! Have your tree recycled into mulch, which will be used for environmentally-friendly landscaping projects throughout the valley. Did you know that shredded trees become valuable organic material for use in projects that help conserve soil moisture and keep plants healthy? It’s certainly worth the effort to make such a positive difference in our community. Before dropping off your tree, please remove all non-organic objects, such as lights, wire, tinsel, ornaments and nails. Foreign objects can harm volunteers and chipping machines. The Michelle Sterling Las Vegas Real Estate Team urges you to call 702-822-7700 for more information and a list of tree recycling drop-off sites. Thanks so much!

Southern Nevada Water Authority Promotes Water Conservation and Backs it with Cash

Michelle Sterling — Sat, 29 Dec 2007 04:34:13 +0000

It’s way past time to face the simple fact that “green grass” lawns are not compatible with a responsible and environmentally conscious lifestyle in the desert southwest. The Colorado River, water supplier to 25 million people in the western United States, is now in it’s eighth year of the worst drought in a century, with no end in sight. Fortunately for Las Vegas residents, the Southern Nevada Water Authority (SNWA) is taking a highly pro-active approach to the issue of water conservation. Despite the size and opulence of water-based attractions on the Strip, the truth is that residential use accounts for 59% of the drinking water absorbed in Greater Las Vegas. Unfortunately, a sizable amount of this usage is sprayed as irrigation water on “green grass” lawns.

For the last eight years, the SNWA has been promoting a voluntary program whereby residents of Las Vegas homes actually get paid to replace their grass with water-efficient desert landscaping. To date, more than 21,000 homeowners and 2,800 businesses have participated. How much progress has the Water Authority made? The SNWA program is responsible for eliminating 86 million square feet of grass in Southern Nevada at a cost of $76.6 million. Water conservation is serious stuff in the desert southwest as you can readily see from these numbers. Of course, the most important number is the 17.5 billion gallons of water that has already been saved by converting grass lawns to desert-friendly shrubbery and plants. Wow, talk about results.

Thanksgiving Weekend: Another Huge Success for Las Vegas!

Michelle Sterling — Wed, 28 Nov 2007 00:21:40 +0000

Las Vegas, Nevada was the second most popular Thanksgiving travel destination on Travelocity.com this year, moving up strongly from a sixth place finish two years ago. Can you imagine how many turkeys were prepared in all the Strip restaurants and buffets? It must have been some kind of record number! Why did people choose Las Vegas for Thanksgiving in such overwhelming numbers? Without question, it’s the draw of an all-inclusive resort vacation experience that simply cannot be duplicated anywhere else. After all, we’re not referred to as the “Entertainment Capital of the World” for no reason. Thanksgiving dinners were served to groups large and small throughout the afternoon and evening last Thursday, followed by highly enthusiastic partying that proceeded straight through the weekend. McCarran International Airport (the sixth busiest in the entire country) handled the massive traffic flow like a champ. The Michelle Sterling Las Vegas Real Estate Team was actually busy showing property all weekend. The deals on brand new Las Vegas homes are just incredible right now….and we’re all over it!

Top Domestic Thanksgiving Destinations:

1. New York
2. Las Vegas
3. Orlando, Fla.
4. South Florida
5. Los Angeles
6. Chicago
7. Dallas
8. Washington, D.C.
9. Denver
10. Phoenix

Source: Travelocity

Is Las Vegas a Victim of SAD? No Chance!

Josh G. — Mon, 19 Nov 2007 08:41:01 +0000

It’s that time of year again (who knew?) when people in less fortunate locals have to concern themselves with SAD. Oh my gosh, what exactly is SAD? My first guess was that it stood for “Straight At the Dealer”, a chain reaction caused by too many losing hands at the Blackjack table. Can’t you just see it? The frustration builds and builds until you give up and throw your cards Straight At the Dealer (SAD). No?? Ok, would you believe that it stands for “Seasonal Affective Disorder”? Apparently this is serious stuff in certain parts of the country (like Buffalo for example), where clinical depression creeps up on people in the winter months due to late sunrises, cloudy skies and shortened days. Are you ready for this? The region of the country you live in can impact your risk of suffering from depression based on lack of sunlight. Does this mean I should stop playing “21″ and go outside more? I certainly hope not.

Personally, I’m all about late sunrises. You see, I’m a jedi-class webmaster, and a nocturnal creature by nature, maneuvering through the inner-most reaches of the World Wide Web, mostly at night. But this can get a little stressful, so I like to break the tension by patronizing any one of several world-class “after hours” clubs, and believe me, Vegas has a few. Anyhow, late sunrises are great for me because there’s nothing worse than exiting an incredibly dark establishment into a disgustingly bright morning. I haven’t yet found a pair of sunglasses, at any price, that sufficiently save me from this fate. What can you do?

In any event, back to our story. In the United States, SAD is (thankfully) about five times more prevalent in the northern tier of states (places like Minnesota I guess), and having recently checked the map, I can tell you that we’re safe and secure from SAD in Southern Nevada. Before you start taking this whole issue as lightly (no pun intended) as I obviously am, realize that no less an authority than the Columbia University Medical Center has spent serious research time (and dollars) shining-a-light on this subject. They even have a “Center for Light Treatment and Biological Rhythms” at Columbia Medical that analyzes these issues in-depth (for reasons I’ll never understand). What could they possibly deduce about light and rhythm at Columbia that you couldn’t understand intuitively after one night at Tao, Tabu or Spearmint Rhino? Personally, I’m wondering why they haven’t put laboratory mice in clear plexiglas containers right underneath the pink and red Circus Circus neon clown marquee. Talk about intensive light treatment! It’s hard to understand what a bright proposal this is (unless, of course, you’ve been to Circus Circus), but maybe they just don’t do that kind of thing, even to mice, even at Columbia Medical.

Are you ready for the great news? The NOAA (The National Oceanic and Atmospheric Administration) has actually ranked cities according to the percentage of daylight hours when the sun is actually shining. No, I’m absolutely not joking. Doesn’t that make you feel good about paying your federal taxes? I heard a rumor that the study was secretly requested (and partially funded) by the PGA Tour and a consortium of sun-care companies led by Hawaiian Tropic. In any event, let’s take a look at the results, shall we?

SUNNIEST Big Cities: LAS VEGAS (85 percent); Phoenix (85 percent); Sacramento, Calif. (78 percent); Los Angeles (73 percent); Miami (70 percent)

DARKEST Big Cities: Seattle (43 percent); Pittsburgh (45 percent); Portland, Ore. (48 percent); Buffalo, N.Y. (48 percent); Cleveland (49 percent)

As you can see, Las Vegas is officially ranked at the very top of major metropolitan areas nationwide for daylight hours when the sun is actually shining. Apparently this is very important for people that live a lifestyle completely unlike my own. What can I say except I’m happy for them?? In the meantime, I’m going to keep the blinds closed (until it gets dark outside), because moving to Cleveland is just totally out of the question……

The Michelle Sterling Las Vegas Real Estate Team just felt like having a little fun with this blog post….and we hope you did too!

Aviation Nation Air Show at Nellis Air Force Base

Michelle Sterling — Fri, 09 Nov 2007 07:42:55 +0000

One of the greatest privileges we receive in our professional lives on the Michelle Sterling Las Vegas Real Estate Team is the opportunity to assist members of the armed forces stationed at Nellis Air Force Base. Nellis is a member of the United States Air Force’s Air Combat Command and home to the U.S. Air Force Warfare Center. The base is also a vital and highly appreciated member of our local community.

This weekend Nellis Air Force Base presents the Aviation Nation Air Show, commemorating the 60th anniversary of the United States Air Force. According to the International Council of Air Shows, Aviation Nation is one of the top-five aerial and aeronautical special events in the entire world. This year’s show will be even more exciting due to the debut of the F-22 Raptor as a demonstration aircraft. The F-22 is designed to penetrate enemy airspace and achieve a first-look, first-kill capability against multiple targets while achieving supersonic cruising speed without the use of afterburners. Pretty exciting stuff!

Aviation Nation is a FREE two day event that begins at 8 a.m. on both Saturday and Sunday. We’ll see you there!