Vertical Living in Las Vegas... Life is a Vacation!

People are intrigued by high rise living in Las Vegas and I get questions all the time about specific buildings and what they offer and simply what they are about.  Some buildings are strictly rentals and some offer purchase or lease options.  Interested in either buying or renting, feel free to contact me and I will assist you in navigating to your new home.  Here is a quick rundown of the high rise buildings in Las Vegas and what they offer:

Turnberry Towers - Located on Paradise Road across from LVH this upscale property provides easy access to the strip corridor.

Turnberry Place - Located on Karen Ave and Paradise Road this property is basically a second phase of the original Turnberry Towers and offers lower cost due to market conditions when the property was built.

Soho Lofts - Located Downtown in the Arts District this is building is nicely appointed including a small grocery store and lounge within the building. Concrete floors and no walls provide true loft living.

Newport Lofts - Also in the Arts District downtown this building is a sister property to Soho and very similar in style but most units are not as highly upgraded and perceived as more affordable.

One Queensridge Place - Arguably the most elegant of the high rises in Las Vegas. Located just outside Summerlin this is vertical living in the suburbs.

Palms Place - Live like your on vacation without the strip traffic. Located on the Palms Resort property this property features everything of a 5 star resort property, restaurants, lounge and pool.

Panorama - This property is all about convience. Easy access to the strip if you desire but located on Dean Martin Drive with easy access to either Tropicana or Flamingo roads. This property features a large gym and dog park on premises.

The Martin - This building is technically the 3rd phase of Panorama but is marketed as its own property. Easy walking distance to to Cosmopolitan and City Center via Harmon bridge.

Manhattan - Located on South Las Vegas Blvd. this mid rise property features luxury condos with easy access to the strip as well as south part of the Las Vegas Valley.

Boca Raton - Also a mid rise similar to Manhattan but a more resort feel. 

Loft 5 - Contemporary living at its finest. Located just off South Las Vegas Blvd. these 1 and 2 story units offer amazing kitchens and master baths.

One Las Vegas - Variety in luxury is what it is all about here.  Many floor plans with different interior features, this building features concierge services and discounts to local merchants.

The Ogden - Convenience of downtown living right is the center of the action - Located at Las Vegas Blvd and Ogden (near Fremont St.) The Fremont east and casino districts are any easy walk away.

Juhl - Mid rise luxury living in the Downtown Business District.  

Mandarin Oriental (City Center) - The most exclusive address on the Las Vegas Strip - fine interiors all in the middle of the action.

Veer Towers (City Center) - Located in the heart of the action, the contemporary style and resort amenities make this a popular destination for a vacation home as well as everyday living.

Allure - Located just off Las Vegas Blvd near the Stratosphere provides easy access to the Las Vegas fun and the rest of the city.

Sky - On Las Vegas Blvd, this building is the perfect vacation home. All the Vegas action is an easy walk away and the resort style rooftop pool is the perfect place to relax.

Regency Las Vegas - Take it old school at the original high rise condo in Las Vegas situated on the Las Vegas County Club.

My Home Is Worth What???

It is no surprise that typically people put a higher value on their home than most people are willing to pay.  After all it is home to them.  Unfortunately with the down market over the past few years, this happens now more than ever.  Recently I had a client contact me and stated he is looking to move out of the area within the next couple years and instead of waiting until then to sell, he would like to sell now and then rent, so when he is ready to move he won't need to wait for the home to sell.

The problem is my client, Joe, paid in the mid 200's for his home he put a large down payment and put a considerable amount of money into replacing, repairing and upgrading the property.  I asked Joe, What do you think your home is worth? Joe stated " I am sure I can get $190,000."  Knowing the neighborhood, I was cringing when I heard this.  I told Joe, I would do some research and get back to him in the morning.  As soon as I got back to my office, I began a comparative market analysis on Joe's home. It was not what Joe was looking for.  Joe is a great guy and wanted to get him his price but with all the short sales and foreclosures in his neighborhood, the highest recent sale was $129,900 and there is currently a home listed $144,000 and considering Joe's pool and improvements, the best and absolute highest he could list for is $160,000 and he needs to be prepared to lower the price if it does not move.   I was concerned I was going to offend Joe when I broke the news.  I called Joe the next morning and asked if he was available to meet for coffee and crunch some numbers. Joe agreed. As soon as Joe arrived at the coffee shop, he looked at me and said "I already know".  I was relieved.  Joe told me he did some online research himself and was able to see the numbers.

The good news is that Joe was not offended with what I was able to find. Joe has decided to stay in the home for now and hopes the numbers turn more in his favor over the next year or so.  The bottom line is the price of a home is dictated by the market not what a real estate agent says they can sell it for.  Any real estate agent can say they can get any price for a home just to get you to list with them.  I run my business on honesty and integrity and not afraid to be truthful.

Real Estate and Technology

As technology advances it is imperative that I keep up with the advances and place it within my real estate business to market homes and stay cutting edge to provide the best service to my clients.


The best marketing tool in my opinion since the Internet is the QR (Quick Reference) code.  You know those square codes that can be scanned with your smart phone.  I have now introduced the QR code in most of my marketing materials including my business cards, house signs along with all other hard copy marketing materials.  The QR code on the house signs are the best allowing people driving by to scan the code on the sign for information on that property.


Social networks are also a great way to get additional exposure for my listed homes for sale.  Twitter is currently my favorite as I have amassed a large following of people other real estate agents in the Las Vegas area as well as all over the country so posting information on a specific home for sale is literally broadcast all over the country. Additionally, of course I use Facebook to gain additional publicity for homes I have listed for sale.


Technology doesn't stop on the customer side either. I use the latest technology to help me be more productive and save time.  My latest gadget attaches to my smart phone and allows me to open lock boxes from my phone so I don't have to carry a separate key box when showing homes.

Up or Down?

Wow, all kinds to contradictory reports out there regarding the local Las Vegas real estate market. Prices Up, Prices down, Inventory Up, Inventory Down, New Home Sales Down, New Home Building Permits Up... the list goes on and on.

How does anyone know what to believe?

It all depends on who puts the report out too.  If it is an organization that supports the real estate business it is likely to be a positive report.  Certain political groups will put out negative reports in hopes there new candidate will get elected or positive reports for re-election.

My personal encounter with the numbers when doing a search on the MLS are all I need to see conditions are improving in the Las Vegas are real estate market.  While short sales are everywhere, forclosures are few and far between.  Some banks may still be holding off on placing there homes on the market so there may be more to come here.  I am seeing more "normal" sales where people are simply selling their home so they can move.

I am in the process of putting together several blogs on specific developments, neighborhoods and areas for the future and it is amazing what we have to choose from here in southern Nevada.  I have known about them but never analyzed all the different amenities offered in our area. These blogs will be coming soon.

Is It Time To Buy?

Is it time to buy?  This is a question that I have been asked by multiple people over the past couple weeks.    All kinds of talk in the media about the economy getting stronger and home prices rising.  The answer to this question is never a simple one.  If you have been waiting on the sidelines for prices to hit bottom and then jump in to buy then maybe it is but we don't know for certain. We won't know until prices actually start going up that the bottom has hit.  While prices have remained nearly stagnant over the past couple months, there are signs that prices may actually rise soon.  A couple zip codes in the Las Vegas area have seen small increases over the last couple months is certainly one indicator.  Another great indicator is watch the new home builders and while they are not raising prices, look at their incentives.  As incentives such as free appliances or upgrades at a discount go away this actually is increasing the price of the home.  


If you have been thinking of purchasing a property but waiting for your credit score to jump up or continuing to save for down payment and closing costs, then waiting til you are ready will not hurt.  Even if prices do start to jump they are not expected to be huge by any means.  


Also you need to consider mortgage interest rates, unless you are paying cash,  not just the price of the home.  Mortgage rates are near historic lows and may go up a bit but nothing that will knock anyone out of the market as long as you can genuinely afford the home in the first place.


As always, take your personal situation into consideration and don't just go out and buy because someone told you to.

What to look for after making an offer...

Once you make an offer on a home and it is accepted, generally you go back for the home inspection and that is it until for final walk through when you get your keys.  With technology now, I recommend taking pictures not only to show friends and family but to ensure everything is left as when it was seen.  Sometimes, sellers will state at time of purchase certain fixtures or appliances are not included but normally everything fixed in place and standard appliances are included in the sale of the home.  Occasionally sellers will remove appliances or fixtures in hopes the buyer doesn't notice or for a number or other reasons.  A few snapshots can save a lot of stress and anger during the home buying process.

Should I Buy New?

Should I buy a new home? Simple question but complicated answer.  Here in Las Vegas there are as many new homes available as there are older homes.  With purchasing a brand new home from the builder, there are often "incentives" such as kitchen appliances, upgraded flooring and enticements of lower interest rates for your mortgage.  Typically, to receive these perks you must use the builders preferred lender which in many cases is the mortgage company that is owned by the builder.  The real advantage of a brand new home is getting the features and color selections that you choose.  Additionally most new homes also include a warranty, typically 1-10 years depending on for everything from the flooring to the roof.  


If you need to get out of your current residence and buying a new home it can often times require 2 moves because many times it will take 3-4 months to build a brand new house. The exception is when the builder has what is referred to as "standing inventory" which is when they have a finished or nearly finished home that is ready to move into within 30 days.  Often times, especially in the current market, builders will give additional discounts or incentives to get these homes off their books.  Usually these homes are ones that were built for a buyer and for whatever reason the buyer cancelled after the home had been started. 


Although it is not required, I strongly recommend that when buying a new home you have real estate agent represent you. Remember, the agent sitting in the office of the home site community ultimately works for the builder and is looking to make a sale.  Having a real estate agent does not cost the buyer anything and is there to guide you through the process and protect your interest.

The Pendulum

One of the first things I learned, years ago, in real estate school is that the real estate market is like a pendulum and that it is always moving.  This is something I think about often.  Every city and even individual neighborhoods have there own pendulum that is in a different position and may be moving in different directions than a neighboring pendulum.


With the real estate pendulum, we don't always know where it is headed until it happens.


Here in Las Vegas we have seen quite a pendulum swing over the past 10 years. In June 2003 the market or pendulum really began to pick up speed with home prices increasing as much as $10,000 or more per week by the end of 2003 to early 2004.  Homes were sold before being within hours of going on the market and in may cases the buyers never even saw what they were purchasing.  By June 2004 the pendulum slowed its upward swing just a bit but continued the upward movement for another year and a half.  The market was slow but steady in early 2005 but by May 2006 the pendulum was getting ready to swing back as quick as it went up. The remainder of 2006 the pendulum was going slowly in the other direction but buyers were swooping in and excited to get what they though was a deal.  As the pendulum kept swinging the buyers were losing excitement and the market nearly stopped in spring 2007.  People realized if they wanted to sell a property they must drop the price. Prices have fallen ever since.  


Where is the pendulum today, who knows? Some in the real estate industry think prices will drop a little more.  My personal interactions I have had over the past couple months lead me to believe the pendulum may be stopping and ready for a change in direction, although it will most like not have the speed and momentum we have seen in the past.