Roberta LaRocca REALTOR® Las Vegas Broker Salesperson Property Management

I've mentioned before that living in Las Vegas has it's advantages, and there are many. Of course there is all the recreation, and the growth of Arts & Culture, just to name a few of them. Then there's that little resort destination often referred to as The Strip, and the "Entertainment Capital of the World."

As I've posted before, at different times throughout the year those living here can take advantage of Las Vegas Locals Specials. Well now a new one out from largest operation on the Strip, MGM Mirage.

This time they've created a web page exclusively for their Las Vegas Locals Specials. It offers a wide variety of discounts to residents, from shows and attractions, to dining, hotel rooms, spa treatments and more. They require a valid Nevada ID to qualify, but I did notice a room special at Treasure Island (TI) that also included residents of California, Arizona, and Utah. You can find them all here at MGM Mirage Las Vegas Locals Website - http://www.mgmmirage.com/locals.

This adds to the list of the many bargains offered to Las Vegas residents. To live here, a refreshing re-creation vacation to a world-class resort destination lies just down the street, and the added discounts make these getaways even more affordable.

Then when you factor in Nevada's lack of any state or local income taxes, residents can stretch their dollars even further. It's no wonder why so many still chose to relocate to Las Vegas, making it #1 in 2008 at relocation.com. Even easier to understand with today's very affordable home prices.

If you are interested in relocating to Las Vegas or would like more information on Las Vegas real estate, please email me, Roberta LaRocca, at roberta@search4lasvegashomes.com, or call 702-354-8988. I look forward to hearing from you!
 

February 5, 2009, was the opening ceremony and reception for the Clark County, NV Centennial. It was held at the Clark County Museum on Boulder Highway, and hosted by District G Commissioner and Commission Chairman Rory Reid, and District A Commissioner Steve Sisolak. If Commissioner Reid's name sounds familiar, you may have heard of his father, US Senate Majority Leader, Senator Harry Reid.

The catered reception began at 5:30 with food and drink available in the museum courtyard. After everyone had a chance to mingle, the gathering was addressed first by Rory, who mentioned that the year-long celebration wouldn't be including showgirls or fireworks. Instead Centennial Events will feature Clark County's history from it's very humble beginnings of mining and farming as it grew around the small railroad town of Las Vegas. He went on to add that a recent survey found that as a global brand recognition, Las Vegas is second only to Oprah. Steve added to the focus on the history and people that have made Clark County what it has grown into today, with an estimated population exceeding 2 million. I think this simple approach is to reflect more on the reality of life here in the valley, than the neon and glitz that have captured that global awareness.

While so many know the 'brand' of Las Vegas, many of our near 40 million visitors have never actually been to Las Vegas. Yes that's right, if you haven't ventured north of Sahara on the Strip, you've never been. The Strip is actually in unincorporated Clark County, in the towns of Winchester and Paradise, and now with the resort corridor expanded to the south, the unincorporated town of Enterprise. That's just one of the misconceptions of Las Vegas. Another is often because of the limited view, as a good percentage of our visitors spend much of their time along the 4 miles of Strip. They miss what's hidden in the other near 600 square miles of the Las Vegas Valley and it's surrounds. From wildlife and the natural beauty of our mountains and desert, to the watersports of the massive Lake Mead, and just about every other form of recreation all to be found lurking in our communities. You can discover some of it my other blog posts, and the ones on Arts and Culture or Recreation might be a place to start.

After the speakers, the museum's centennial exhibits were opened. In addition to the fixed displays that date back to the valley's evolution from ancient ocean to desert, there are several displays of memorabilia. Most of it was donated for use in this 100 year celebration. A harpist performed as the some chatted either while waiting to go through or as they prepared to go outside. The night also offered guided tours of each of the unique period homes of Las Vegas. Later this year is another Centennial event that will add to that outdoor display. The famous Candlelight Wedding Chapel that had been home to many weddings, including celebrities, will be added to the collection of relocated and restored buildings. You can find more about them, along with pictures, here in my post on The Las Vegas Homes of Heritage Street.

If you are interested in relocating to Las Vegas or would like more information on Las Vegas real estate, please email me, Roberta LaRocca, at roberta@search4lasvegashomes.com, or call 702-354-8988. I look forward to hearing from you!
 

Elegant Artistic Luxury. That is the simple description for One Queensridge Place Las Vegas, the stunning twin tower luxury high-rise condominiums. It's located on the west side of the Las Vegas Valley at Alta Drive, one of the gateways to Summerlin. As you can see from the picture, they are magnificent eye catching creations, accented by the majestic Spring Mountains in the background, home to renowned Red Rock Canyon.

In my previous news post on billionaire Phil Ruffin and the Canadian Invasion of Las Vegas, I noted this project has an international flare, and that is reflected in it's old world style. EHB Companies, whose president is Canadian native Frank Pankratz, have partnered with Tel Aviv's IDB Development to create this truly unique property. It offers the discriminating buyer the opportunity to have the high-rise luxury you'd expect to find only in a congested urban downtown, but located in an upscale suburban area. Homeowners here have the potential to wake to the awe inspiring view of the conservation area's mountain range, and entertain with views of the city lights and Las Vegas Strip.

The artistic nature of the architecture is easily seen from it's exterior, but it surely doesn't stop there. It flows throughout the towers from the owners' residences to the community areas available to all in the towers. Craftsman have transformed the various natural elements into stunning works of art. From stone, tile, wood and iron, to the elegance of sparkling crystal and water, all are blended into a warm earthy feel of royal elegance.

This sense is ampliphied with the world class amenities. Each homeowner has their own indoor private garage, or a garage within a garage, so to speak. Some residences offer direct elevator service from there, while all have electronically coded keys that stop only and directly at their front door. Additional privacy and security is offered by being uniform guard gated, and of course services such as valet and concierge, massage and so much more. This combined with a no tip policy by way of an annual fund, allowing for homeowners and their guests use of the abundant accommodations without reaching into their pocket at every turn. This creates a much more pleasurable and relaxing atmosphere.

The quality and variety of the facilities themselves expand upon this further. In the Great Room with it's spacious design, you'll find everything from cozy areas to meet and enjoy the natural lighting by day, or the elegance and warmth of the stone fireplaces at night. You can also enjoy the media lounge, a bar and lounge, or a game of billiards. In the mornings, you can meet with your neighbors as your Barista prepares your favorite beverage at the cafe.

Other features include intimate card and retreat rooms, conference room, and private 24 seat media theater. For entertaining there is a private dining area available, complete with adjacent gourmet kitchen and individual storage in the wine cellar. This provides for an excellent environment for both social and professional interaction. Three Guest Casitas are also available for family, friends, or colleagues for longer visits.

Of course there's still much more. A fitness room with state of the art equipment, and from there, residents can escape to the stone and columned Roman Spa tucked away in each gender's facilities. Adjacent to them is the indoor lap pool, or you can move outdoors for a swim, or for some open-air cooking at the barbeque area.

Recreation and entertainment isn't limited to the property. It sits adjacent to the Badlands, and convenient to the many golf courses in the area that you'll see in the vistas from the balconies. For other outdoor enthusiasts, hiking, biking, rock climbing, and horseback riding is all available in Red Rock Canyon. The entertainment options of Suncoast, JW Marriott and Rampart are just down the street, and the Red Rock Resort also nearby.

Shopping and dining abounds in the area, and much more on the way as just across the street Queensridge has begun construction of Tivoli Village. For even more choices, and all you've come to expect from the Entertainment Capital of the World, the Las Vegas Strip is just a short drive away. Beyond the neon you can even discover the growing arts and culture and the multitude of other recreation opportunities hidden away here in the Las Vegas Valley. A wide ranging selection to suit any taste or lifestyle.

One Queensridge Place offers all this and much more. While told the project is now about 70% sold at the time of my recent preview visit, there is still a selection available. These homes start at approximately 2000 square feet and different floorplans to much more than double that size. At the moment, there is very special pricing for the next ten homes that sell; please contact me for particulars.

Please note: In Nevada if you register or request information online with a home builder, or first visit without your agent present, you will be giving up your right to have your own representation.

So on to pictures of this spectacular luxury high rise condominium, One Queensridge Place Las Vegas. These are a combination of the excellent pictures provided by Executive Home Builders, and my own, to provide you with an overview of this exclusive residence. To watch full screen, instead of using PLAY, click the HD / Full Screen button on the bottom of the player below, and when finished click it again or use the ESC key to return.

The XML Flash player NOT embedded in the current posting? Click here to view these pictures , or for all my Las Vegas Photoshows that include some of the interesting neighborhoods and events found in and around the Las Vegas Valley, CLICK HERE.

If you are interested in relocating to Las Vegas or would like more information on Las Vegas real estate, please email me, Roberta LaRocca, at roberta@search4lasvegashomes.com, or call 702-354-8988. I look forward to hearing from you!

I recently had an article from a major publication emailed by a home buyer, on the Top 5 blunders of Internet Home Buying. They felt some of it was a little contradictory and confusing, and after taking a read I can see what they mean. While it does have some excellent points, it also appears to have one thought opposing another, and coming up short on advise. I thought I'd review and add my comments and my own general home buying guide.

The article's first topic starts with suggesting that unless a seasoned real estate investor, their #1 is home buyers should seek the assistance of a REALTOR®. Why? The legal and many other challenges of purchasing a home. Personally I've found many investors use agents for the information and assistance they provide. Home buying is a complex process, and usually involves much more than simply finding an online listing that may or may not exist, and we'll get to that in a moment.

True comparable values, contracts and contingencies, earnest money deposits, financing, counter-offers, taxes, fees and assessments, inspections, title companies... it can become overwhelming, time consuming, and costly, especially for those attempting to learn on the fly. Having someone experienced in all this and the many other potential issues that can crop up in each individual sale can be very valuable.

The #2 Blunder of looking too narrowly. I can also agree with this to a point, but there is a much more efficient solution. The article states that there is an overwhelming amount of information and 'popular' real estate searches, and that's true. It goes on to say that these websites may not have the latest up-to-date listings. This is VERY true, and it actually goes beyond that. I can't tell you the number of times I've been contacted about homes found on the Internet that are not listed or even for sale anywhere, have been sold or are contingent / pending an offer, or the site list a price that is nowhere near reality. This only adds additional confusion for a buyer...and can drive an agent crazy trying to find a property or a price that doesn't exist.

This topic goes on to include looking for local agents and their blogs for more current information. There I can again agree, but that's where it stops short. Most all local REALTORS® offer a search of their local MLS, where the most up-to-the-moment information is found and includes foreclosures / REOs, or bank owned homes.

You can find the latest in the Las Vegas / Clark County and surrounding areas at RobertaLarocca.com, those listings and a new homes search at Search4LasVegasHomes.com, or a zip code specific Las Vegas MLS search hosted at my site through the Greater Las Vegas Assn of REALTORS® found here. All are free to use and don't require any registration. Browse the latest Las Vegas home listings to your heart's content, I won't contact you unless you request more information.

When you're ready to go beyond window shopping you should contact me, or an agent in the area of your home search, because you'll find we have the ability to make your home search much easier and almost instantly up-to-date. I can create a search specific to your needs and sent directly to your email as homes become listed. No waiting for one of those popular search sites to have their database updated, you're getting it direct from the source. I can also narrow it down to your exact criteria, be it price, style, amenities, lot size, even subdivision, a mapped area, or all the way down to a particular street. All with any pictures that have been submitted or as they are added, and with more detail on the property. It can save you so much time trying to weed them out yourself, and can be adjusted should your needs change.

So while you don't want to narrow your search by using sites that may not include all the listings or ones that don't exist, you don't need to consume your time looking at homes that don't meet your needs. There are currently over 20,000 listings on the Las Vegas MLS, including foreclosures / REO/ Bank Owned, and short sale / pre-foreclosures, along with some well priced resale homes. While sifting through that large a number, and adding some non-existent or unreal priced listings into the pot, your dream home may slip through the cracks.

That brings us to #3, For Sale By Owner, or FSBO. The article states there are estimates that 20% - 25% of homes listed are FSBO. What they don't mention is that these start out listed as FSBO. The National Assn. of REALTORS® did a study and found that in 2007 approximately 12% actually sold as a FSBO. WHY? Well it could be they were so hard to find that the were eventually listed through an agent, pulled from the market, or possibly foreclosed. I think this often goes back to the other side of the article's #1 mistake, inexperience. The sellers may not know how to market their home, or may have placed an unrealistic value on the property. That can make it difficult to impossible to sell, and not offer any real 'bargain' by eliminating an agent. For the buyer, do you want to enter into this without competent information of comparable value, as mentioned in blunder #1? If you do want an agent to represent you, will the FSBO seller be willing to pay your agent's commission, or will it be up to you, and will it erase some or all of the 'savings' if it actually exists?

The article goes on to include Craigslist as a good source of FSBOs...but that also ties into their #4 top Blunder, 'Fake Listings'. Yes, unfortunately there are scammers out there, both on and off the Internet, and could even be a fellow church member. Craigslist can be a place where you can find them, as anyone can post, there's no verification, and users are the primary source to police the site. Even well publicized foreclosure search sites have home listings that either don't exist, have sold, or the prices they can list may be very misleading. Again, very time consuming.

So yes, you do need to be sure who you're dealing with. Even be aware their have been cases of unlicensed people posing as real estate agents. Here in Nevada, a licensed agent must be working from an office of a licensed brokerage, and must list their broker's name and address as you can see on my websites or here in my Active Rain profile. You can also verify an agent or broker license at Nevada Real Estate Division.

That brings us to #5, not relying on online valuation sites. This is also very true, and with so many foreclosures, often more difficult to nail down without detailed information. The article mentions local amenities as a factor, but again it goes beyond that. Property condition, lot size, location, upgrades, and many other items can come into play. Some foreclosures are in need of extensive repairs, while another or a resale home may be in pristine condition.

So here's my general Internet home buying tips...

1. Use online home search tools, but include a local agent's MLS search in the mix. If you see a property of interest on another site, at the very least you can see if it's listed on the MLS and at what price.

2. While you're online shopping for homes, spend some of your time shopping for a real estate agent. Since you're here at Active Rain, you're already at a good place to start. Check out blogs and profiles to get an idea of the person you'd be dealing with. It gives you the opportunity to see if they provide the information and insight you feel will help you in your home search and purchase.

3. Don't get caught in the foreclosure trap. It's where buyers assume the ONLY great home values have foreclosure attached to it. Now this is where you don't want to narrow your search, and weigh all your options to see what works best for you. While a foreclosure may be priced at or below market and offer a great value, they may also need work and additional investment to get back to market condition. Remember that regardless of their appearance, these homes are sold As-Is, and the bank will have you wave your right to disclosures. Will you have the additional time and financial resources available to rehab a property, if necessary?

In some cases resale or new homes can offer a better value, as their prices have had to become very competitive to sell. Aside from corporate owned investment homes, a resale will offer disclosures. You may also be able to negotiate for issues with the home, even after inspection, in the case of a resale. New homes may include added benefits. In addition to being brand new, builders often offer upgrades, good rates for qualified buyers, and home warranties. Just be aware that if you register or sign up for more information on a builder's website, or visit a sales office without your agent present, you'll be giving up your right to have your own agent representation.

4. I don't think I'd recommend paying for 'foreclosure lists' for the average home buyer. Unless you're planning to chase down defaulted homeowners, or have cash in hand to bid at a Trustee sale, and know how to perform all your valuation and due diligence up front before you bid, and those are just a few things you'd need to know. REO's normally end up on the MLS, and you can get those listings for free from a local agent.

Also be aware that foreclosure auctions usually require potential buyers to perform their due-diligence at their own expense during open houses before the auction. It's not unusual to see 'previously valued to' prices that were at market peak, not current market value. Unless a rare absolute auction, there most likely is a reserve price and being the highest bidder doesn't guarantee a sale. Some may add the disclaimer "that except where prohibited by law, they may bid for the seller up to the reserve price," which can make the low starting bids irrelevant. Auctions are another situation where you may want to contact an agent to be represented if you are unfamiliar with the process.

5. When you're ready to go beyond casual cyber-browsing, it's time to get qualified for a mortgage. This for a number of reasons. The first is to determine the price range you should be searching instead of wasting time. Are you looking too high or too low? What rate will you qualify for, and what monthly payment fits your budget? Doing this early in the process may also give you the opportunity to correct any credit issues that can possibly help you get a better financing arrangement.

An agent can usually refer you to someone that can get you pre-qualified, and can help you determine what will be affordable. Remember there can be other expenses to consider, such as property tax and insurance, and if they apply, Homeowners, Master Plan, condominium fees, or special assessments. One of the main issues with today's foreclosure mess is that ability to afford the home purchase was pushed to the back of the line.

Having this in place also eliminates the potential of missing out on a great value for your dream home, as most all sellers in the Las Vegas market won't accept an offer without one in place. With the Bank Owned foreclosures you may be asked to pre-qualify again with the lending owner, and they may even extend a mortgage offer. Also remember that there is no obligation to the pre-qualification. You're still free to use the lender of your choice. If self-funding, be prepared with a bank letter proof of available funds.

To sum it all up, there are incredible values in today's Las Vegas home market and the low interest rates add to the affordability. The Internet provides an incredible tool to share information from good sources. Unfortunately the Information Superhighway can be littered with garbage. Working with a good agent can help you use the technology to your advantage and help you make your home buying experience a lot less troublesome than stumbling through it alone.

If you are interested in relocating to Las Vegas or would like more information on Las Vegas real estate, please email me, Roberta LaRocca, at roberta@search4lasvegashomes.com, or call 702-354-8988. I look forward to hearing from you!

Last fall I mentioned the construction of the above $1 billion M Resort and the Lightship it leased to prepare for it's opening. This past week owner Anthony Marnell III received final approvals from Nevada Gaming, and currently slated the opening for March 1, 2009. The approximately 390 room property will offer a Salon and Spa, nine restaurants, luxurious pool and Piazza concert area in addition to the casino.

They are still hard at work on the property, and it's beginning to resemble a finished product. The landscaping and signs are going in as the structure gets it's finishing touches. It's amazing to drive by it and see the amount of progress made each time. Here's what it looks like now.

With the limited image sizing here in the blog, you really should click to see the larger pictures. Besides the unique design, the clouds were reflecting in the glass walls and that added to the stunning appearance. You'll also be able to see a little more of the suites offering the 270° panoramic views from the pointed ends on either side of the building, that have both Las Vegas Strip and mountain views.

M Resort is also convenient to I-15 and it's newly expanded interchange to head to southern California, McCarran International or the Las Vegas Strip, and quick access to Henderson Executive Airport. It will offer a nearby entertainment and dining options for several or the master planned communities in the vicinity. Seven Hills, KB Homes and Toll Brothers of Inspirada, and Anthem and Madeira Canyon are a few that are within minutes of resort.

There's also plenty of property for this project to expand, as it now has grown to approximately 90 acres. Future buildouts are currently planned, and that includes a 1 million square foot regional mall. Of course it's timetable will most likely be determined by the speed of the economic recovery, but it does offer the potential for adding additional employment and spurring further development in the area.

I should also include Marnell's partner in this joint venture, MGM Mirage. They are also scheduled to begin opening their own 'little' project later this year on the Las Vegas Strip. The hiring of 12,000 for City Center has already begun. Retailers, restaurants, and others will also be having their own separate employment as the facilities draw closer to opening.

If you are interested in relocating to Las Vegas or would like more information on Las Vegas real estate, please email me, Roberta LaRocca, at roberta@search4lasvegashomes.com, or call 702-354-8988. I look forward to hearing from you!