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Las Vegas, NV Real Estate News

By John Novak, Henderson, Las Vegas and Summerlin Real Estate
(Keller Williams Realty The Marketplace)
Home sales in El Capitan Ranch, a community in northwest Las Vegas, NV are even so far in 2007. Ten homes closed in the first quarter, compared to 10 in the same period in 2006.Existing resale inventory of 35 homes (plus 9 with accepted offers) strongly favors buyers, giving them lots of choices and room to negotiate. In this highly competitve market, it is vital to price competitively and have the home in its best showing condition. Homes in El Capitan Ranch are close to the I-215 Beltway, and the recreational options of Red Rock and Mount Charleston.Here are the details of the first quarter sales:AddressSq Ft Bed/BathList PriceSale PriceDOMClosing Date3836 Russett Falls47495/4$679,000$675,0002902/05/078716 Castle Ridge26043/2$465,000$442,00032902/08/078632 Raindrop Canyon26534/3$435,0...
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The statistics are in for April and the news are pretty much the same as they've been for months now.  The residential real estate market here is under the weather. Lets take a look at some of the actual numbers. Home Builders Research counted 1,568 new home sales in April which signifies a 40% drop from the same month last year. That's high. Existing home sales declined 36%. Not good.The only bright spot continues to be the price. Click here to read more.
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By John Novak, Henderson, Las Vegas and Summerlin Real Estate
(Keller Williams Realty The Marketplace)
Home sales in Los Prados, a guard gated, golf course community in Las Vegas, NV are down slightly so far in 2007. Ten homes and four townhouses closed in the first quarter, compared to 13 homes and 3 townhouses in the same period in 2006.Existing resale inventory of 47 homes and 7 townhouses (plus 7 homes and 1 townhouses with accepted offers) indicates that there is about a one-year supply. In this highly competitve market, it is crucial to price aggressively and have the home in its best showing condition. Los Prados also offers swimming, tennis, and walking trails and is convenient to the I-215 beltway.Here are the details of the first quarter sales:AddressSq Ft Bed/BathList PriceSale PriceDOMClosing Date5400 Braemar25503/2$515,000$500,00016303/30/075421 Fountain Palm22994/3$449,900$...
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By Robert Ratliff, RE/MAX Realtor Las Vegas
(Ratliff Realty Group RE/MAX Las Vegas)
The private owneship group buying the New Frontier plans to spend $5 billion to turn the Western-themed hotel-casino - best known for $44 a night rooms, bikini bull riding and the Strip's last bingo hall - into an ultraluxury mixed-use development.The 884 room New Frontier will close for 60 days so it can be demolished and replaced by a high-end project with a Hotel-casino, condominiums, a convention center and retail space. http://www.las-vegas-homes.biz
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By Robert Ratliff, RE/MAX Realtor Las Vegas
(Ratliff Realty Group RE/MAX Las Vegas)
Latest sales report shows big declines........ Home builders research reported another dismal month for housing in Las Vegas, with new and existing home sales falling by double digit percentages in April.There were 1568 recorded new home sales in April, a 40.7 percent decline from the same month a year ago. Existing homes sales fell 36.6 percent to 2,353, the second lowest monthly total in the past six years.There were 1,804 new home permits pulled in April, bringing the year to date total to 6,210, down 38.3 percent from a year ago. http://www.freelasvegasinsiderinfo.com
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By Esko Kiuru
This is the seventh part on how FICO works. To be able to fully follow the flow of discussion it would be to your benefit to first read FICO primers I, II, III, IV, V and VI. This is the last segment of the FICO tutorial. Long journey, wasn't it.If you're denied credit, the Equal Credit Opportunity Act, or ECOA, mandates that you can within 30 days get the reasons why. You can also ask for a free credit report from the credit reporting agencies within 60 days.As mentioned before, it's important to check your credit report annually for any errors. Better yet, check it at least six months before a major purchase, such as a house or a car. This allows you to take the proper action should there be any problems. To improve your FICO score is generally a slow process, so don't expect quick ch...
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By GUY Trendz, Home Gifts and Products for Men
(GUYTrendz)
The New Frontier Hotel Casino in Las Vegas, NV will be sold and demolished to make way for a new condo hotel project on the Las Vegas Strip.The owner of the Plaza hotel in New York is making the purchase for $1.2 billion claiming it to be buying one of the last great parcels on the Strip. His new development is estimated to cost $5 billion and projected to open in 2011.Las Vegas real estate remains in demand. Builders are looking toward the skyline during this Manhattanization phase of down town. Indications, like this purchase and others similar, show the Las Vegas market to be strong. There is a bright outlook on the future for Las Vegas propery.
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Traditionally home ownership is considered a place to live, a roof over your head, a social phenomenon. What else? It's psychologically uplifting because you're now effectively in complete control over the four walls and a top that you occupy. You're in charge and that tells you that you belong. It's your castle.I'm in support of the view where the word investment gains a bigger slice of the ownership pie chart than before. To purchase a home represents a major financial commitment. In most cases it's the largest undertaking of its kind you'll ever make. For this reason alone I'd treat it as an investment. Let's say an investment with some specific traditional values to it, so that there remains an individually-acceptable balance between the two. It shouldn't be only one or the other.Th...
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By Arina Hanciulescu, RealtyPros
(RealtyPros)
 An investment group from Israel is buying the New Frontier hotel-casino on the Las Vegas Strip for more than $1.2 billion.The Wall Street Journal is reporting that Elad Properties plans to close the 984-room hotel and redevelop it into a hotel resembling New York's landmark Plaza Hotel, which is owned by Elad.It will be a $5 billion project with 3,500 rooms, a retail area, restaurants and convention space and will open by 2011.The Frontier, which is owned by Phil Ruffin, could close as soon as this summer.
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By GUY Trendz, Home Gifts and Products for Men
(GUYTrendz)
A handyman is the guy (or gal) who takes care of the repairs and maintenance around your property. From Drywall patches to roof leak repairs, from plumbing fixes to electrical splices you want the right licensed handyman to do the work. When things go awry they quickly become life savers.Find someone who is a licensed contractor or subcontractor. Make sure they are bonded and insured. Ask them their fees upfront and request a formal bid for the work to be done. Remember, they have a license so make sure they remain honest and do the work to a professional grade. A good handyman will be busy but will be able to get to your needs in a timely manner.Realtors in Las Vegas will typically find a couple pros they like and refer them over and over. Typical of any market, just about every Las Ve...
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That's a distinct possibility. The location would be the New Frontier that was just sold for a whopping $33 million per acre. The new owner, El Ad Properties, owns multiple New York City buildings and has announced plans to raze the existing hotel and casino and build a copy of the Plaza Hotel in New York on the site. That is their strategy right now.But take note that the purchase includes 36 acres of land on the Strip. Yes, prime location. And a lot of dirt to play with. El Ad has experience in high-rise condominiums and I'm placing a moderate bet on them eventually building a residential tower or two there. It would only follow the current and so far successful trend in town. A hotel alone just isn't enough in this competitive environment. Take a look at MGM Mirage's City Center and ...
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  The latest data in the Housing Market Index, HMI, that measures the nations's housing demand slips to the lowest level in its present cycle. It's put together monthly by the National Association of Home Builders and Wells Fargo. The survey focuses on three key areas; builder outlook for current single-family house sales, overall sales projections for the next six months and the amount of traffic by prospective buyers. The subprime lending woes are giving builders major trouble. Now that lenders are forced to operate under new and tighter underwriting guidelines, fewer buyers can qualify. The finance incentives that are out there are creative, but can only make a marginal difference. Financing, I'm afraid, is a segment that isn't going to change for the better anytime soon.In my view t...
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By Ralph & Susan Alvarez, Real Estate Agent Las Vegas NV
(REMAX Benchmark)
 Well it's time to get up up and out, that is words. After prowling around in the background for a few weeks I think it's time for the first blog.I happen to see my points today and it was 1000. FOR WHAT? Well I put up some info about ourselves and responded to a few blogs along the way. I also commented on the Q&A.. Almost 3 year in business Suzy and I have committed to give each client the most professional service that we can.After owning our own business in Los Angeles for 30 years, we understand customer service, listening and meeting there needs. In the auto and truck salvage business customers can be very demanding on a day to day bases, but it's all about the handling the deal till it's done.By the way Suzy is the one without the beard.Remax one in Las Vegas was our choice for a...
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By Jacqulyn Richey, Las Vegas Real Estate
(Prominent Realty Group)
Fans of the East Coast lifestyle finally have a choice in Las Vegas. Welcome to Manhattan, Vegas style. The Manhattan condo community is located on south Las Vegas Boulevard, across from Boca Raton. The community is nearing completion and many residents have moved in.  One of the huge draws of the community is the Manhattan Club. The glass enclosed building houses a state of the art fitness center with separate weight and cardio rooms, a business center for residents use, media room and more. The park like common areas intertwine among the resident buildings.   Residents had a choice between condo units or two story loft units. Manhattan residents enjoy a level of security as well.  Parking areas are well lit and several areas of the complex are under constant video surveillance.  The o...
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By Esko Kiuru
This is the sixth part on how FICO works. To be able to fully follow the flow of discussion it would be to your benefit to first read FICO primers I, II, III, IV and V. This is the next to last in the series, so there's hope.It's now time to go to the fourth category, which is new credit. This one is about 10% of your score. We today tend to shop for more credit than ever before and FICO is monitoring that. In general, more new credit will lower your score. According to past financial studies, someone opening multiple credit accounts in a short time span does signify higher risk. And it's even greater for those whose established credit history isn't very long.When you make standard credit inquiries, FICO's software counts only those that have a direct impact on your risk gradient. Moreo...
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By GUY Trendz, Home Gifts and Products for Men
(GUYTrendz)
El mercado de bienes raíces en Las Vegas se ha explotado en recien años. Muchisima gente, sea inversionistas or gente quien quieren vivir en propia casa, se muda a Las Vegas cada mes. Al entrar al valle de Las Vegas es importante utilizar un profesional quien sepa su idioma y el inglés. Aun que sea comprador de casa or vendedor de casa aqui en Las Vegas, podemos ayudarle a lograr su meta.Hemos ayudado a muchas familias. Aseguran sus casas para vivir cómodos. Hay casas para todos.Es defícil encontrar a alguien quien sepa español y conozca al area de Las Vegas. Háble hoy para empezar el proceso de comprar o vender su casa con un agente.
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By GUY Trendz, Home Gifts and Products for Men
(GUYTrendz)
Welcome to Las Vegas and congradulations for being able to take advantage of the Las Vegas real estate market. Whether you are buying or selling for the first time it is an exciting experience and you will want to have a great team to help you get the job done. You need to know up front that the process is not always easy and there are many moving parts to a transaction. Your emotions will run high and there will be hickups along the way. Your responsibility is to be responsive, responsible, and decisive.Las Vegas first-time home buyers are some of the funnest to work with. They are owning property for the first time and they are excited by the prospect. They have a lot of questions as they explore their options. It is crutial that they find a great lender who will take care of them. Be...
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By Arina Hanciulescu, RealtyPros
(RealtyPros)
No question, Nevada's golf courses are as challenging as they are spectacular. And without doubt, this is due in no small part to the state's daunting landscapes and sheer physical beauty. No matter if it's north or south, public or private, Nevada's golf courses are simply some of the finest in the land. In fact, Golf Digest names 5 Nevada courses in its list of America's 100 Greatest Public Courses. And Golf Week has 5 Silver State locations on its list of America's Top 100 Resort Courses. That's a lot more than our fair share. And let's not forget one of the real perks of playing golf in Nevada. Besides the magnificent courses themselves, there's just so much else to do here once the round's over. From the undivided pampering of some of the world's leading spas to the bright lights a...
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By Arina Hanciulescu, RealtyPros
(RealtyPros)
Home appreciation in Las Vegas has slowed dramatically from the torrid pace of two years ago and turned negative in some areas of the valley last year, a local housing market analyst said. Median existing home prices increased 3.6 percent valleywide to $285,000 in 2006, based on more than 90,000 existing home closings recorded by the Clark County assessor's office in 2005 and 2006 -based SalesTraq reported. The market continues to grow, the economy continues to grow and population continues to grow. Those factors offset whatever hyper-appreciation that existed."  
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By GUY Trendz, Home Gifts and Products for Men
(GUYTrendz)
One of the fine home builders in Las Vegas is Pulte Homes. They have established a standard for quality and a reputation for fine craftsmanship. They are generally known in the Las Vegas Valley as a name to trust.Pulte is listed on the NYSE and is a fortune 200 company. In 2006, they built more than 41,000 houses as a company. In nearly 60 years they have built nearly 500,000 homes. J.D. Power and Associates has recognized them for their customer satisfaction in the various markets they develop in.In Las Vegas they currently have 12 developments. Prices start from around $180,000 and go up to around $630,000 before options and upgrades. Their homes are valuable and their customer service is great.Their sales representatives have been great to work with from a Realtor's® perspective so g...
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