Aaron Auxier's VIVA VEGAS! Luxury Real Estate Update Feb. 2008.

VIVA VEGAS! Luxury Real Estate Update - February 2008.

A Topsy-Turvy Market

How's your city? My Las Vegas is facing topsy-turvy times. Whether it's the challenged single-family-home market, a high-rise developer getting sued, or condotel financing troubles; bad news has hit the street everyday since New Years.

Vegas has become the punching bag of the national housing market. When will it get better? Who knows? Is there more than meets the eye? You decide.

Top-Dollar-Selling agent at The Harmon and Three New Records

I'm pleased to announce that I've been informed by MGM MIRAGE that I'm the top-dollar-selling agent at The Harmon Residences. Upon checking multiple resources, including MLS tax records, I verified that I had set three new Las Vegas records. The three records were for most expensive price-per-square-foot residential properties (home or condo) ever sold in Las Vegas at approximately $1,500, $2,000, and $2,400 a square foot.

The top sale nearly doubled the previous record of just over $1,300 a square foot for a residential condo. In addition, the top sale was the most expensive penthouse sale (per square foot) in Vegas history including both residential and condotel properties - more evidence that the high-end market in Vegas continues to do well despite an overall slow single U.S. housing market.

While many agents become "top-dollar-selling" by having a team, I reached this status with no buyer's agents. With The Harmon's focus on the entertainment business, I'm thrilled by these achievements.



No More Video

In a focus to raise the bar in 2008, I've decided video is not the way to go. I'm not here to "sell real estate" as much as I'm here to educate. Video felt salesy, took too much time to prepare, and got in the way of my blogging. Now we wouldn't want that would we?

Are you familiar with the term K.I.S.S.? It stands for "Keep It Simple Stupid". Blogging and photography are my passions.

New Websites and Blog

Believe it or not, the brand new VegasCondoScene.com is almost done. I'm also permanently deleting HighRiseHookups.com.

What's taking so long? I've decided to make two new websites and one entire new "daily" blog. No, I'm not making 20 cookie cutter sites, I'm building three informative, professional sites.

- VegasCondoScene.com will feel "Hip meets Luxury", featuring monthly updates, tips, FAQ, and construction/design facts.

- LivingOnTheStrip.com will launch as a lifestyle site. Clean and simple, focused on the aristocratic ambiance of each tower.

- LasVegasStripDaily.com is my new blog. Featuring: photo of the day, people, guess this picture, tower updates, and more.

All three sites will launch at same with all of the great photos and information you enjoy and then some. I'm excited about the direction I'm taking my business and I hope you are too!

Click Below Links to Read Latest Articles

What costs more? Land on the Strip or land above the Hollywood Sign?
Howard Hughes was involved in both the Las Vegas Strip and a 138-acre parcel above the Hollywood Sign in Los Angeles. But what is worth more today? Get the answer in this article!

Less theme on the Strip in 2020 was proof Vegas matured
Properties such as Paris, Treasure Island, and Luxor are part of what makes Vegas unique. While new high-end boutique hotels featuring world-class architecture and spas are welcomed, the Strip needs to stay diverse.

Las Vegas now ties New York for AAA Five-Diamond Awards
AAA has handed out their 2008 Five-Diamond Awards which are based on excellence in hospitality. Las Vegas tied New York for nine total awards (restaurants and hotels), and surpassed Chicago for most Five-Diamond Hotels. This article contains the entire list of winning properties for all three cities.

Since Wynn did the north end of the Strip go high-end?
Steve Wynn, thanks to his forward thinking, has taken the focus of high-end Las Vegas real estate and hotels to the north end of the Resort Corridor.

Fontainebleau could signal big change for Strip's Revenue
Entertainment, restaurants, and nightclubs are expected to generate up to two thirds of Fontainebleau's revenue. A sign that the Strip is evolving.

Where else besides The Harmon can you get a rounded penthouse?
I have a penthouse to tell you about. The place...Panorama Towers...The floors...24, 25, and 26. The architecture...Curved glass and grey-shell - At nearly 7,000 square feet, the developer's unit at Panorama Towers is truly unique.

Latest News

-Zabeel Investments, a Dubai-based firm, has acquired a 50% stake in The Light Group. The Light Group, who will manage The Harmon Hotel, is one of the leading hospitality companies in the United States.

-More news has surfaced in regards to the Palazzo luxury condominium tower which is officially under construction. Sands Corp. intends on building 422 condominiums (plus or minus) in the tower which is being billed as super-luxury. Prices could be north of $1,500 a square foot (still being finalized by the developer). Expected delivery is 2009.

-The Monte Carlo reopened on Friday the 15th after a fire on January 25th forced the hotel to shut down. An MGM MIRAGE official said the damage should not exceed $100 million.

-DI Development Group, the new owner of the Greek Isles, says they intend on imploding the aging casino. They plan on replacing it with a mixed use project consisting of nearly 800 hotel rooms and 70,000 square feet of convention, retail, and restaurants.

-The MGM MIRAGE CityCenter budget has gone over $8 billion. Not a bad deal for those who bought real estate in a $6+ billion development and just gained $2 billion in surroundings.

-No new information to report on the Cosmopolitan Resort Casino at this time.

Aaron Auxier, REALTOR®, ABR can be reached at 702-205-1818.

Luxury Realty Group is recognized by the press as a leading brokerage on the Strip. They can be seen on networks and in publications such as CNBC, Forbes Magazine, Details, LV Business Press, Wall Street Journal, The Review Journal, Los Angeles Times and USA Today.

Disclaimer: All information contained within Aaron Auxier's VIVA VEGAS! Luxury Real Estate Update is subject to change without notice. Subject matter is not guaranteed and is often considered time-sensitive.