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December 18, 2017

Want a second home? Las Vegas condos are on sale

By now everyone knows that Las Vegas real estate market has been one of the fastest falling markets in the country. Some will say that Las Vegas condo prices fell 70% from the peak in 2005-2006. Even Vegas condos at Trump Las Vegas have dropped from near $600,000 to $167,000. You will find condos in Las Vegas at Turnberry Towers that have fallen from $550,000 to the mid $200,000s.

Las Vegas condos on The Strip

Perhaps you have heard of the huge project on the Las Vegas Strip called City Center which is on 76 acres and cost $8.4 billion dollars. The prices of Las Vegas condominiums were cut by 30% at this project which was developed by MGM Resorts. They have a condo high-rise, a condo hotel, and two luxury hotels. Currently it is reported that they are closing nearly 40 units per month.

Sales volume of real estate in Las Vegas has picked up and is actually a bit higher in June 2010 than in June 2005. However, properties purchased today are much cheaper to buy. They are selling at 47% of what they did 5 years ago.

It is understandable why people would enjoy a second home in Las Vegas as the city has so much to offer. There is world class dining here, spas, and plenty of entertainment in the form of shows and nightlife. Better yet there is no state tax and Las Vegas abounds with excellent golf courses. When people decide to purchase a second home in Las Vegas about half the time they will purchase from the Las Vegas condos on the Strip and the other half will decide from Las Vegas houses in the urban communities.

It use to be that frequent visitors would just get a hotel room, however many are now choosing to purchase a Las Vegas condo. Many of the new Las Vegas condos for sale on the Strip have amenities such as hotel style service and restaurants. The new owner will find concierges, sparkling pools, world class spas, and state of the art fitness centers.

Here are a few other places that a buyer may consider for a second home purchase:

Lake Las Vegas

Lake Las Vegas is a beautiful community off the Strip. In July 2008 there was a bankruptcy and prices nose dived 60-70%, however there was reorganization this past June. Luxury condos can be purchased for under $100,000. Here, you will find multi-million dollar executive estate homes in Lake Las Vegas as well as two outstanding golf courses. It is literally minutes from Lake Meade. In this community you will find a luxury Loews resort, the Ritz Carlton which will reopen in early 2011, a condo hotel, and the Monte Lago Village with a variety of shops and places to eat.

If you like Golf course communities then you are in luck. The master planned communities of Summerlin, Red Rock, and Anthem are great choices for Las Vegas homes. Vegas real estate prices there are down about 50% from the previous highs.

Contact an experienced Las Vegas Realtor! Bob and Jackie Simmons of The Realty One Group

The Silver Lining in the Las Vegas real estate market

Many articles in newspapers, magazines, and on the internet are written today concerning the collapse of the Las Vegas real estate market.The local and national television news report daily about the Las Vegas foreclosures and the Las Vegas short sale. Then we hear about the Las Vegas jobs report that is dismal with a current 14% rate of unemployment. Sure. this all sounds and looks rather bleak to so many people. However, there are some people that might not be making a lot of noise and yet are really enjoying the moment.

The Vistas in Summerlin Las Vegas

Las Vegas is known as the Silver State because of the mining of this mineral. Now the Las Vegas real estate market has a bit of shining silver glimmering for a certain group of fortunate people. Who are these people you might ask? Why would they want Las Vegas homes? Well, the answer is simple if you think about it. These people have money.

People who have a source of money can enjoy a real estate market such as the Las Vegas real estate market. Why? Simply, because everything is so affordable for them. Then on top of that there is a tremendous selection of Las Vegas houses for sale in the MLS listings from which to choose. Well, what if I am interested in Las Vegas condos? That’s not a problem because we have plenty of Las Vegas condos for sale too. Let’s say you want a little condo off the Las Vegas Strip for when you come to visit in the fall and winter months so that you can get away from the ice and snow. That’s not a problem either. There is a very good selection for you with prices about 50% off from the peak levels a few years back.

Red Rock Canyon...minutes west of Las Vegas.

The bottom line is that if you are interested in any of the Las Vegas properties then now is best time to buy in many years…if…you have the money. Homes in Las Vegas are still being purchased regardless of the media reports. Are the reported numbers down? Yes, they are down. However, the fortunate people with money are taking advantage of the Las Vegas housing situation and they are absolutely loving it.

Let’s say that you have been thinking about a Las Vegas relocation and even tho you have the money you’ve just kind of put off the notion of buying a house for sale because of all the negative reports. Well, that’s a call you will have to make. Keep in mind that the negative news is for the people who are unable to purchase and not necessarily for those that can.

There are bargain Las Vegas homes for sale in any of the Las Vegas zip codes…if…you have the money. This holds true for just about any of the Las Vegas housing including Las Vegas luxury homes. So, some people with money that want a Las Vegas home will decide to wait until the news gets better and that’s normal. However, there are other people with money that are now buying Las Vegas homes for sale at a discount and these buyers feel like they have struck gold. Needless to say, for them this is wonderful news.

Be sure to read “The Top 5 Reasons People Move to Las Vegas.”

When you plan on purchasing your Las Vegas property be sure to contact an experienced Las Vegas Realtor!
Bob and Jackie Simmons
The Realty One Group

Canyon Gate Homes and Condos

Canyon Gate Homes and Condos - Foothills Country Club homes for sale at Canyon Gate Country Club, Las Vegas NV
Canyon Gate homes and condos are in a beautiful guard gated golf course community just west of the Las Vegas Strip featuring custom homes, luxury condos and upscale tract homes in a lush secluded setting. Set against a backdrop of the Red Rock mountains, the Canyon Gate course was designed with views in mind, and many of the homes and condos that line the course have some of the most scenic vistas in Las Vegas, NV. There are usually few homes for sale in this sought after neighborhood.


 Discover Canyon Gate Homes and Condos

Membership to the country club is by invitation only, though a membership is not required to live in the community. Country club amenities include gourmet dining, fitness center, tennis and golf. Designed by Ted Robinson, Canyon Gate’s championship caliber 18 holes play to a length of 6,742 yards, rewarding accuracy and skill over strength. Lagoons, waterfalls and sand break up the 160 acres of Hybrid Bermuda fairways and gently undulating Bent Grass greens.

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