Not a day goes by when you wont find negative press about the state of the local real estate market in Las Vegas. While most of these articles have statistics that anchor the demise of the local market, they also group the entire market into a single category.
This often distorts the big picture about the overall health of the market.
For example the sales office at MGM Mirage CityCenter recently raised prices on the remaining inventory for their luxury high-rise condos. Sales at CityCenter have been impressive and are approaching the $2billion mark. This amazing city within a city is scheduled for completion in late 2009 and will be the most costly privately funded construction project ever.
The single family home market as a whole in experiencing a large number of foreclosures. Investors in the mid range single family home market invaded the valley in the late stages of the real estate boom and are now paying the price. These short sales and foreclosures are being scooped up by savvy buyers who see strong job growth and a robust local economy as reasons to take advantage of the investor flop.
As is the case in many markets the higher priced area's are a different story. Communities like The Ridges Las Vegas, and Red Rock Country Club Las Vegas, on the western edge of the Las Vegas Valley are stable and have seen a much smaller number of distressed sales.
The main point is that large metropolitan area's like Las Vegas are complex and have many sub-markets. To lump them into a single category doesn't tell the whole story.
We are Tom Garcia and Amy Garcia of Luxury Realty Group and the Garcia Group. we specialize in luxury home sales in the Ridges Las Vegas and Red Rock Country Club Las Vegas, as well as luxury high-rise condos in the resort corridor. Contact us for more information on luxury living in this dynamic city.
Contact us direct 702-360-6645
www.LuxuryHighRiseCondoDeals.com
2008 The Garcia Group all rights reserved
all information in this blog is subject to change and should be considered time sensitive.
Aaron Auxier of Luxury Realty Group in Las Vegas has just been selected one of the 10 rising Stars in the business community's annual awards ceremony. The ceremony was hosted by the popular and flamboyant major of Sin City, Oscar Goodman.
Aaron was the only residential real estate agent in this select group of professionals. His success in selling luxury high-rise condominiums was his stand out achievements in 2007. He was recently recognized as the top producing agent at MGM Mirage CityCenter. This project is roaring ahead with an estimated completion date of late 2009. It is projected to be the most expensive privately funded construction project ever.
Three of Aaron's sales at CityCenter set price-per-square-foot records for the city of Las Vegas.
Aaron continues to bring great exposure to both his brokerage and the city of Las Vegas. He has been featured on numerous local, national and international telecasts such as Fox News, CNBC and more. His reputation has earned him the nickname "Hollywood's connection to Vegas".
If you are in the market for luxury Real estate in Las Vegas contact the city's leading high-rise brokerage, Luxury Realty Group. www.LuxuryRealtyGroup.com or the Garcia Group www.VegasLuxuryLiving.com also check out www.LuxuryHighRiseCondoDeals.com for valuable information on some of the great deals currently available in the Las Vegas luxury high-rise condo market. Contact Tom Garcia or Amy Garcia at (702)360-6645.
2008 Luxury Realty Group, the Garcia Group, all rights reserved
All information in this blog is subject to change, information should be considered time sensitive.
The spring buying season is in full swing in the Las Vegas Luxury High-Rise Market. Tight lending, negative press and over exuberant investors unloading their property have combined to create a super buyers market. We have a perfect storm of low interest rates, a weak dollar and huge supply. This puts serious buyers, especially those using foreign currency, in the drivers seat for the near future.
Many buyers are making the move in the luxury towers of Turnberry Place. Sky las Vegas, Turnberry Towers and Panorama Towers. Many of these buyers are getting 2002 prices on these units and todays great financing options. At Luxury Realty Group and the Garcia Group we feel now is a perfect time to get off the fence and pick up a great high-rise property in Las Vegas. Visit us at http://www.vegasluxuryliving.com/
Here is our Top 5 List for spring 2008
#1 Unit #2609 Sky Las Vegas.
The most desirable floor-plan in the building. Corner suite with 2 large bedrooms and walls of glass looking south providing jaw dropping views of the Strip. Walk around balcony with glass railing enhance views west and south. This is the highest 09 floor-plan available and is priced to sell. Over 1750 sq ft of interior living area.
#2 Unit #4503 SKY Las Vegas
Easily the most unique Penthouse suite currently on the market in las Vegas. This 3 story unit occupies the southeast portion of the top of the building. Huge walls of glass in main living area. Outdoor living area including kitchen and spa. Over 5000 Sq. Ft. of living area including interior elevator.
#3 Unit 3402 Turnberry Place Las Vegas
Located high in the final tower of Turnberry Place this E unit provides almost 3200 Sq. Ft. of interior and exterior living area. Flow-thru design provide multi-directional views of the strip and the northeast valley. Unit is offered turnkey designer finished and furnished. This unit has a private entry elevator entry, custom paint, lighting and art work.
#4 Unit 4301 Turnberry Towers las Vegas
Near the top of the East Tower, this unit boasts some of the best strip views available from any high-rise tower in the Resort Corridor. Two bedrooms and baths, dual walk-out balconies provide multi-directional views. Custom glass backsplah in designer chef's kitchen, stainless appliances. Unit is offered turnkey down to linens and dishes. New and never lived in.
#5 Unit 1603 Panorama Towers
Almost 3300 Sq. Ft of living area in this designer furnished unit. Walls of glass offer amazing views of the $8 billion MGM Mirage CityCenter. Custom wall coverings and art throughout. 12' ceilings. dual master suites. formal dining, office and more make this one of a kind unit a true standout property
(Last and certainly not least) Penthouse Units #4502, 4504, 4508 Turnberry Towers
These three units at the very top of Turnberry Towers make up 50% of the top floor of this beautiful tower. they are available as a single purchase or individually. Combined they would offer over 6000 sq. ft. of penthouse living. The views from these units are among the best available in sin city! Preliminary plans for combining these units have been completed by the developer and are available.
Contact Tom Garcia 702-250-6355 or Amy Garcia 702-994-3850 for more information on any of the above properties. Photos and video of these properties and more can be viewed on our websites. www.VegasLuxuryLiving.com or www.LuxuryHighRiseCondoDeals.com
2008 The Garcia Group all rights reserved
all information in this blog is subject to change without notice. content should be considered time sensitive.
While it is no secret that the Las Vegas housing market is experiencing a hangover form the investor and loose-lending fueled hyper-bubble of the early 2000's, lets not forget that there is still a net influx of more than 5,000 people a month to the city.
Also there is more than $30 billion of luxury property under construction in the resort corridor, this is projected to create over 100,000 jobs in the next 3 to 4 years. Not all these are low paying jobs. The average dealer at a luxury resort makes great money! According to a recent article by the Las Vegas Review Journal. A mid seniority card dealer at Wynn Las Vegas makes over $90,000 a year! A senior bellman can easily clear over $120,000 (think of this the next time you get in a cab at the Bellagio!)
The point here is that the phenomenal growth in las Vegas is going to produce a lot of great paying jobs in the coming years. Some of the people will want to live close to the action and work. No better place than one of the recently completed Las Vegas Luxury high-rise condos. To see our favorite list of places to consider buying now check out www.LuxuryHighRiseCondoDeals.com These towers represent a great opportunity to own a place close to the action of the Strip, yet they all provide security and privacy.
If getting away into a secluded gate guarded community is more your style, we would recommend heading west to Red Rock Country Club. Just 20 minutes from the strip, this gate guarded community on the valleys west end is nestled against the spring mountains that borders Red Rock Canyon National Conservation Area.
Red Rock is built along two Arnold Palmer designed desert style courses. The community has wonderful amenities including a 44,000 sq. ft clubhouse, pools, spa, fitness facility, fine dining and more. It is located in the Summerlin community which has been ranked the #1 master planned community in the country. For a closer look at Red Rock Country Club, go to www.VegasLuxuryLiving.com and click the Red Rock link.
We are Tom and Amy Garcia of Luxury Realty Group and the Garcia Group. We live and work in Las Vegas and would be glad to share our thoughts on the Las Vegas market with you.
Contact us direct at 702-306-6645
2008 Luxury Realty Group, the Garcia Group, all rights reserved.
www.LuxuryHighRiseCondoDeals.com
"Your Premier Las Vegas Strip Consultants"
All information in this blog is subject to change, information should be considered time sensitive.
A couple of years ago the community of Red Rock Country Club on the western edge of Las Vegas made the decision to take a proactive, water-smart move regarding water consumption on the two Arnold Palmer designed golf courses on which the community surrounds. The Goal was to significantly reduce water usage while maintaining or possibly enhancing the ascetics of the off fairway landscaping.
Time for Action
After several months of planning and review, workers began removing water hungry turf surrounding the main fairway areas. In place of the grass, desert landscaping, including cactus, succulents and a variety of drought tolerant flowering trees and shrubs were installed. The end result was a pleasant surprise to not only the golfers, but to the residents of the country club as well.
The golf courses took on a more natural and less intrusive feel. Red Rock Country Club after all, borders Red Rock Canyon National Conservation Area and the Spring Mountains. The more natural look and feel of the golf courses now blend in nicely with the mountain backdrop.
Huge Water Savings for a Thirsty City
It is estimated that the removal of several hundred thousand feet of turf will save several million gallons of precious water over the next decade. By all accounts this project has proved to be a win-win situation for the residents of Red Rock Country Club as well as the city of Las Vegas.
This community action was initiated by the residents and owners of this beautiful community located on the western edge of Summerlin, in the city of Las Vegas. The community is home to approximately 1300 custom and Semi custom homes. Prices start in the 700's and escalate into the multi millions.
If you would like more information about Red Rock County Club contact us. We are Tom Garcia and Amy Garcia, residents of the country club and principal members of The Garcia Group of Luxury Realty Group. A leading Las Vegas luxury real estate firm. (702) 360-6645
www.LuxuryHighRiseCondoDeals.com
copyright 2008 The Garcia Group, all rights reserved
All information in the blog is subject to change without notice. All material should be considered time sensitive.
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Realty One Group www.VegasLuxuryLiving.com 10750 W. Charleston Blvd Site 180 Las Vegas Nv 89135
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