Las Vegas Real Estate Market Trends
Most buyers ask me, "When do you think the Las Vegas real estate market will reach a bottom?". I was not given a soothsayer's license when I became an agent. What I can provide buyers is sales stats and facts that will help them draw their own conclusions. Today's article in the Las Vegas Review Journal:
Market Bottom? - CLICK TO READ?
presents several different outlooks and opinions from market gurus. I tend to agree with agent, Steve Hawks, who said that the market bottoms will be different in the various sectors. I placed an offer on behalf of a client on Friday on a very aggressively priced 2 bedroom Manhattan condo ($ 164,000) , selling at 50 cents on the dollar ( based on original purchase price). The bank had received 7 offers, 5 of them all cash, in 2 days. Could this be a bottom ? I would say so. So while all the "waiting for a bottom buyers" are on the sidelines, the bottom for Manhattan Condos on the south strip is pretty much near - because of the multiple buyers at those levels. And the numbers of units sold in the past month, as well as the rental histories showing that these condos rent in 30-60 days for prices quite similar to high rise condos on the strip - while the HOA dues are only $249/mo - half the price of the high rise HOA dues. The numbers pencil out - the investors are all in!
It helped that this particular condo was on an interior lot - first floor within walking distance of the club house - with grassy areas in front - and was a totally upgraded unit with cherry cabinetry - stainless appliances and all the goodies. So while the bottom looks close in these luxury units, 3 miles south of Mandalay Bay, we are playing the waiting game in other high rises. Research & Market Facts will give buyers the complete picture.
TO VIEW ALL RESALE CONDOS IN MANHATTAN on the SOUTH STRIP - CLICK HERE
CONTACT LAUREN STARK for All your Las Vegas Luxury Property Needs
702 236-8364
Luxury Properties Abound in Beautiful Seven Hills-Henderson NV
I have spent the past few days showing luxury homes in the various guard gated neighborhood of Seven Hills, a masterplanned community centered around the Rio Secco Golf Course that offers some of the most beautiful views and peaceful lifestyles in the Vegas Valley. It was a welcome change from showing the high rise condo on & off the strip that I know like the back of my hand!
Several of my condo buyers have switched gears, and instead of wanting a second home, luxury condo lock and leave lifestyle, have decided to take advantage of full time residency tax benefits that Las Vegas has to offer. I must have previewed twenty plus homes in Seven Hills and an equal amount in Anthem Country Club, and up to Red Rock Country Club in Sumerlin, and to the Ridges, and back to Seven Hills which had the most glorious views and largest home sites of all in the least dense environment.
For those looking for large homesites, breathtaking strip views that are truely panoramic in scope, with golf course greens in the foreground, just 20 minutes from the strip, this community fits the bill. Seven Hills has set some record breaking prices for the remaining custom homesites. Sales have been recorded at over a million for a half acre!
Custom homes range in price from about $1.5 million and up.
You can see it all!
For an inventory list of custom homes in Seven Hills, with Virtual Tours,
please contact Lauren at 702 236-8364.
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Leading Las Vegas Luxury Real Estate Agent - From Strip High Rises to Elegant Luxury Homes in Henderson, NV - Offering Outstanding Personalized Service and Expert Market Knowledge. 702-236-8364
Lauren Stark - Las Vegas & Henderson NV Luxury Real Estate Agent
Las Vegas Luxury Condos and Country Club Homes Specialist
Lauren is a tenacious negotiator and a dedicated real estate agent always cognizant of her clients' interests. Lauren's clients always come first. Intensely focused, extremely market savvy, with years of experience, Lauren understands the ins and outs of Las Vegas luxury real estate both on and off the strip. Known for her quick and facile ability with numbers, Lauren can process statistics and perform price per sq. ft. analysis in a flash. Known for her candor and her business acumen, Lauren will decline overpriced listings her team cannot sell in these very challenging economic times. Lauren is honest in her business dealings and will always be truthful in what she deems the value of a property is and can pull together the stats and facts in a flash to back up her point.
Licensed since 1996, and obtaining her broker's/salesperson license several years ago, Lauren sold homes as she earned her B.S. Degree in Business Administration, with a major in Marketing from UNLV. Granted several scholarships from the Lied Institute of Real Estate, Lauren became a top selling real estate agent as she worked with her mother, June, within 2 years of getting her license, and was inducted into the Summerlin Circle of Excellence in 1998 for being the # 3 Team in Las Vegas for selling new homes in the masterplanned community.
Lauren and The Stark Team have created some of the most informative and highest organically ranked websites focusing on the Las Vegas Luxury High Rise and Home market. Amongst the industry leaders in the Las Vegas high rise sector of the market, Lauren and The Stark Team, were quick to identify the vertical trend in Las Vegas and their business acumen resulted in numerous sales awards.
Connect with Las Vegas' Top Producing Award Winning Stark Team:
#1 in Sales for the Cosmopolitan Hotel-Condo
#1 in Sales for Sky Las Vegas
#3 in Summerlin - 1998 - Most New Homes Sold - Summerlin Circle of Excellence
Top Producing Team in Trump Towers Las Vegas
Preferred Top Agents for for MGM CityCenter Sales
Lauren has been a Professional Speaker to Investment Groups & Clubs.
Lauren is widely recognized as a High Rise specialist & has been quoted in interviews by Inman News, the Los Angeles Times, and is featured on HGTV as she gives a tour of the Trump Towers Las Vegas models. A consummate professional, Lauren works with many executives who appreciate the attentive, thorough and discreet service she provides. Her connections and knowledge of the Las Vegas market make her very successful at matching buyers with the finest units for their needs & financial goals. Lauren herself is an active real estate investor, who lives and works in Anthem Country Club.
Sellers will benefit from Lauren's expertise in marketing combined with her knowledge of buyer motivations & demographics. Paired with their team's broad based internet exposure, Sellers will have powerful & widespread marketing exposure for their properties.
Buyers & Investors will benefit from the close working relationships June & Lauren & her husband ,Travis, have developed with many of the leading high rise developers. Their team focuses on locating the most placement in each building at the lowest price points The team's solid understanding of their clients' investment objectives & goals has enabled them to build a base of national & international referrals.
With websites receiving over 10,000 hits per month, clients of the Stark Team, receive global exposure for their properties. Expert marketing, innovative ideas, tenacious negotiating skills, coupled with years of Las Vegas real estate and Business experience, Lauren is a standout amongst her peers.
Always adaptable, always a Step Ahead of the competition, as market innovators, The Stark Team is focusing it sights on the emerging foreclosure market, and on Luxury custom homes which many buyers are seeking now that prices in Las Vegas and Henderson have declined so significantly.
Looking to buy or sell Las Vegas Luxury Real Estate? Do yourself a favor and make the right choice.
Call Lauren at 702 236-8364.
Please visit Lauren's websites at:
www.lasvegashirisespecialists.com
www.lasvegashighrisebargains.com
Photo Above is taken from a 10th floor unit on the SE corner of Panorama Towers # 2
Anthem Country Club - Henderson NV 89052
How great it is to live and work in beautiful Anthem Country Club. Nestled into the foothills of Henderson's Black Mountains, and a quick 30 minute drive to the glitz and glamour of the world famous Las Vegas strip, Anthem is a serene and peaceful guard gated country club offering a variety of single family homes from the high $390k range to the multi-millions.
The Stark Team lives in Anthem and has a city-pad at Turnberry Towers - the best of both worlds in luxury Las Vegas living. Let us show you the best that Las Vegas real estate has to offer, whether it is the best foreclosure deals - the best in high rise living - the best in luxury homes.
With over 30+ years of combined Las Vegas real estate experience, we will tell you the turth, pull no punches, and scope out the best properties to suit your needs, while simplifying your transaction.
Contact Lauren at 702 236-8364
For All Your Las Vegas Luxury Property Needs
Do I have a Crystal Ball? No Way! But I have all the tools and knowledge to help you make an informed decision whether buying or selling Las Vegas Real Estate.
With plenty of inventory on the Las Vegas real estate market in these challenging economic times of 2008, buyers are standing on the sidelines and waiting to find "THE BOTTOM" unless the deal is really tremendous. And you only know when there is a bottom looking backwards! There are deals to be had - you just have to know how to find them and how to assess the facts and stats to make sure that what appears to be a good deal really is a sound one. We have all the technical tools, combined with the knowledge and the ability to dig into property histories, and tax records, to present a thorough analysis of a property's value. Critical for a buyer - critical to a seller who needs to sell - the facts tell the picture if you know how to pull them together.
The luxury high end of the market is now rapidly declining in some parts of each tower. Luxury high rise condo absorption rates are dismal. Sellers are in denial. Foreclosures and short sales are popping up in the luxury towers on and off the strip. Are they plentiful ? No. But they are affecting values and HOA dues are rising to cover the shortfalls from the folks who are walking-away. It is not a pretty picture and yet all is not doom and gloom on the strip.
MGM CITYCENTER is rising as is the COSMOPOLITAN RESORT in the Harmon Corridor which will have some of the most elegant - some of the hippest - some of the coolest city pads to rival the best of the best in the world. The St. Regis is coming on the site of the Palazzo, promising to offer some of the most unique and ultra luxurious penthouses in the world.
And Wynn's new Encore is about to open. The Fontainebleau is going up across from SKY & the Las Vegas skyline is reinventing itself as we speak. Curious Times. Times of Contrasts.
Las Vegas still has 5000 people relocating here each month. And they all need a place to live. Investors are snapping up entry level price homes and condos that pencil out, now that property values have declined. There are deals out there and all you need is the right agent who can help you find them.
CLICK TO SEARCH ALL LAS VEGAS CONDO RESALES
CONTACT LAUREN AT Laurenvegas@msn.com or
call her on her cell at: 702 236-8364
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