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Las Vegas Real Estate Blog

Your Las Vegas real estate information source. The latest news, new construction, scandals, additions to the strip and other Las Vegas and related information.

Tuesday, July 31, 2007

Microchip and toenail trimming event

This Saturday, the Lied animal shelter is having a low cost microchip and toenail trimming event. I'm a strong believer in microchipping, because without them, I never would have gotten my Pekingese, Toy back in 2005. You can read the original post here. The people at Lied were aware of Toy's story and asked permission to use her as the spokesperson for the event. Naturally, she acquiesed and had a small list of demands (private trailer, constant supply of Chicken Jerky and Pig ears, the usual).

But seriously, if your cat or dog hasn't been chipped yet, go down to Lied this Saturday and get it done. Aside from vacinating, its the best thing you can do for the welfare of your pet. google map

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Thursday, July 26, 2007

Downtown Las Vegas

Last month the city approved a huge new downtown project. Mayor Goodman has been a driving force behind the redevelopment of downtown Las Vegas so its no surprise that the project was given the green light. Downtown is being divided up into seven districts. Current projects like Juhl will allow people to live right in these new districts, giving them access to art, entertainment, great dining and shopping literally right outside their doorstep.

The new development green lighted by the city will include roughly five million sf of additional retail, commercial and gaming space, another 9,000 hotel and condo units and a 22,000 seat major sports arena and will be approximately 85 acres on the west side of Main. The arena idea has been around for years, but it looks like its finally going to become a reality.

Real Estate Interests Group was selected out of six applicants to develop the arena. Looks like Las Vegas is a step closer to getting a major sports franchise. Plus property owners in the vacinity are certainly going to benefit as well.

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Friday, July 20, 2007

What's happening on the Strip

In the tradition of Las Vegas architecture, anything over 15 years old is considered ancient. So its no surprise with the building of the New Echelon mega resort, other strip avenues are also spending big money to update their *ahem* aging properties. Harrahs, owner of Caesars Palace hotel and casino is expanding. Construction is due to be omplete in early 2009.

The centerpiece of the expansion is Octavius Tower, a new 23-story hotel building that will adjoin Augustus Tower (2005). The tower will house 665 new rooom lined with pool suites overlooking three new swimming pools. The new pools will abut an expanded outdoor whirlpool spa retreat, a garden wedding venue (it is Vegas, after all) and a poolside cafe for those who don't want the hassle of drying off to get a bite to eat. A new meeting/convention area will also be built. The existing Forum tower will also undergo rennovation.

With the addition of the Octavius Tower, Caesars will have over 4,000 rooms.

Not to be outdone, MGM Mirage Inc. announced a multi-year makeover for Luxor. The upgrades include a new nightclub, new restaurants and lounges and a new Cirque du Soleil production. Rennovations to the casino floor and hotel rooms will also be done.

Once again, real estate on the strip is proving to be some of the most valuable property in Nevada. This past May Elad Properties paid $34.8 million an acre for the aging Frontier property. Earlier this month FX Luxury Realty paid $36.7 million per acre for 17.7 acres fronting the east side of the Las Vegas strip south of Harmon. Its reported that a 38-acre site across Las Vegas Boulevard from Mandalay Bay Resort & Casino is coming to market that may fetch a price as high as 1 billion dollars.

With the price of strip real estate continuing to climb, high rise owners on the strip can be sitting on a potential gold mine. Time will tell.

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Saturday, July 14, 2007

Fixing my pool

Anyone that has owned a pool has had to call in someone to fix it. Its inevitable, just like death and taxes. My pool motor gave up the ghost a couple weeks ago. I had just had my pool plumbing repaired and a three valves replaced about six weeks prior, to the tune of about $600. Needless to say, I was thrilled that motor quit. So I emailed the same company that fixed the plumbing to come out and replace the motor. A few days went by and I never heard from them. So I called and found out a replacement motor would be about $270 and if I wanted them to put it in, another $200. From looking at other internet sites, that seemed a bit high so I shopped around.

I spoke to Mike at Budget Pools Service and Repair. I explained that I had already taken the motor off and just needed a new one put in. He gave me a quote of $370 and said he could have someone out in a couple days. Today, James from Budget showed up and put in the new motor. He also found out that I needed to have the breaker replaced for that line. The new motor is humming right along.

They also do monthly maintenance as well in the Henderson area and East side of Las Vegas. You can reach Mike at 702-361-SWIM (7946) or visit their shop at 2301 E Sunset Rd, Las Vegas, NV 89119.

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Thursday, July 12, 2007

Mortgage Fraud Conference

Convention season is gearing up. Despite the heat, the convention areas are pretty busy most of the year. Quite a few smaller conventions are held during the summer and fall months at meeting rooms in some of the strip properties.

There is a new one that I'm thinking of attending about mortgage fraud. It will be on November 14th and 15th, featuring Rachel Dollar and other experts. The conference is being held at Circus Circus. According to the site, attendees will learn tips and tricks to help avoid and stamp out fraud in the mortgage and real estate industries as well as receiving a complimentary copy of Protect Yourself from Real Estate and Mortgage Fraud, co-authored by Rachel Dollar and Ralph Roberts.

Tickets are $895 before September 30th, then $995 there after. Call (800) 848-4904 for ticketing.

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Monday, July 09, 2007

Taking a look at Long Beach

Every year at this time I start thinking of moving someplace cooler. So, I indulged my fantasy again and starting surfing real estate sites in California. My wife and I love the ocean and vacation as often as we can in Santa Cruz, Santa Monica and San Diego. So I started searching for California real estate near the ocean. I ended up on the Red Wagon team site, looking at information about Long Beach real estate. The prices weren't as high as I expected, rather comparable to certain areas here in Las Vegas.

The condo communities were very similar to the newer ones here as well. The same standard amenities you would expect. I ended up surfing the Long Beach mls from their site for about 20 minutes looking at condos near the beach.

Then I decided to start looking further north. I ended up looking at real estate in Snomish County, Washington. Everett WA real estate offers a lot of different housing opportunities as well. I would love to live near the ocean, especially during the summer months (who wouldn't?). I starting snooping around the site and looking at the surrounding areas. Washington is giving California a serious run for its money....


Construction on Pinnacle commencing

Construction on the Pinnacle high rise condos is scheduled to commence on July 11th. The project is located on W Tropicana Ave and Cameron on the former site of Falconi Honda. Originally, construction was due to start in October of 2006. The project went through a small design change, the addition of the sky bridges.

Pinnacle will feature high rise condos, penthouse and sky bridge units. Absentee owners will be able to rent out their units through an in-house rental program. Interstate Hotels & Resorts of Arlington, VA has been retained to manage the property. Some of the unique floor plans like the Pinnacle H plan, feature dual master bedrooms with views of the strip. Other plans like the D plan, are located on the west side of the buildings, giving residents a view of the surrounding mountain range. If you are thinking about buying a high rise in Las Vegas, close to the strip but not on it, you might want to give Pinnacle a look.

Echelon condos update
Queensridge Condos

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Thursday, July 05, 2007

Commercial real estate development not slowing down

Commercial real estate in the city of Henderson just received a jolt. Phoenix-based Vested Housing and Principal Real Estate Investors have partnered to acquire a 16-acre site in Henderson. The acreage is approved for a 350-unit apartment community and was purchased for $10.5 million. Constructed is slated to start in early 2008.

The project will be called Henderson lofts and will include a pool, fitness center and clubhouse. Units will have 10' ceilings, tuck under garages and granite counter tops. The building site is located on Wigwam Parkway, east of Stephanie. Expect rents to be at a premium upon completion of construction.

Commercial real estate in Lake Las Vegas

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Vote for Pups On Parole

Today I received an email from my friend Harold, one of the founders of Heaven Can Wait Sanctuary where I do some volunteer and foster work. The National Geographic channel is having a poll on which Dog Whisperer episode is the best. The Pups on Parole is one that was selected.

Please go to the web site and vote for the Pups on Parole episode. Here is the link:

dog whisperer poll

Last time I looked they had a slim lead. I'd love to see their episode win and get shown again on National Geographic. It shows the hard work and dedication of the Las Vegas community and its volunteers.

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Monday, July 02, 2007

Commercial Real Estate in Lake Las Vegas going strong

Despite sluggish sales in the residential market, the commercial real estate market in Lake Las Vegas is booming. Intrawest, who held several retail buildings in Monteloago Village, had put up 12 retail buildings for sale six weeks ago.

The properties received 20 offers, most of which were at or above the $23 million dollar asking price. According to Clark County records, the property was purchased for $23.5 million by Pacific Capital, a private investment group based in Roseville, CA. The purchase price comes out to just over $455 per sf.

The purchased buildings were built in 2003, have a total 51,500 sf and were approximately 93% leased at the time of sale. Some of the notable tenants include Starbucks, Como’s Steakhouse, Luna Rossa, Bistro Zinc, Sunset & Vines and Rocky Mountain Chocolate Factory.

Montelago Village was designed to resemble an old-world Italian lakeside village with cobblestone streets, piazzas and open-air dining. Residential projects include several Lake front condos like Viera, Mantova, Luna di Lusso and Prima as well as luxury lake side homes and custom home sites. Residents and non-residents of Lake Las Vegas enjoy a variety of water sports on the 320 man made lake, golfing at three different courses and a variety of shopping and dining choices.

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Sunday, July 01, 2007

Ordering contacts online

I'm a firm believer in buying things online. Usually I'll happily wait a few extra days for something that I could have bought locally. Generally you can get most things cheaper by doing so and very rarely have I ever had to send something back. My wife is down to her last box of contact lenses. She has been buying them from her eye doc for years and has been paying too much. I've been trying to get her to buy them elsewhere but out of loyalty she has stuck with him.

I was surfing around and found this site, contactsamerica.com. They carried her brand of Acuvue contacts, plus a bunch of other brand names for a lot less than she pays for them locally. They even have the color enhancers that will change your eye color (she doesn't need them, but they are pretty cool). I finally got her to agree to buy a box to give it a try. I think that businesses that don't change their way of doing business to incorporate the internet aren't going to be around long. The cost difference for her specific contacts is almost 2 to 1. You have to love the internet. For some things I still like to go to an actual store, but disposable items like contacts it seems that the internet is the way to go.


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