CA and NV - Real Estate Blog by Olivia McClellan, Agent

9/7/06 Red Rock Residences Tables ProjectScott Nielson, Chief Development Officer said, "they are looking into various alternatives for the five acre parcel". He also noted that the condos still may be built.

This project has great potential for residental living based on its Summerlin location, views of the Las Vegas Strip and Red Rock Mountains.

If you haven't been to the new Red Rock Casino, Stations Casino, you have to stop by and check it out. The exterior design is incredible and interior is warm and inviting. They have spent millions creating a Casino/Resort that locals would go for dining, entertainment and just to relax.

Red Rock has a brand new custom spa with amenties galore as well as some of the best restaurants and night club in Vegas.

Our Current Listings as of 8-23-06:
Below are current listings from REALTORS in Las Vegas, Nevada.

Las Vegas Homes:

639579 - 5620 Benevento Ct, Las Vegas NV 89130 Located in Foothills at Southern Highlands
603834 - 5575 Villa Lucia, Las Vegas, NV 89134 - Pending
593407 - 8301 Boseck Drive, Las Vegas NV, 89145
621049 - 5042 Ridge Drive, Las Vegas, NV 89103
617726 - 8921 Rio Verde Ave, Las Vegas, NV 89147
631537 - 8713 Glistening Pond St., Las Vegas NV 89131

Las Vegas Condos:

639580 - 8600 West Charleston Ave, Las Vegas, NV 89117 Located at Park1
639578 - 10233 King Henry, Las Vegas, NV 89144 Located at Carlise at Summerlin
638486 - 10550 West Alexander Rd. , Las Vegas, NV 89129 Located at Chateau Versailles

The data related to Real Estate for sale on this website comes in part from the INTERNET DATA EXCHANGE (IDX) program of the Greater Las Vegas Association or REALTORS® MLS.

Real Estate listings held by Brokerage firms other than this site owner are marked with the IDX logo.GLVAR deems this information reliable but not guaranteed.

Copyright © 2006 of the Greater Las Vegas Association of REALTORS® MLS. All rights Reserved.

Olivia McClellan, ABR, GRI, RRG
Broker/Salesperson, REALTOR®
Liberty Realty
7674 W Lake Mead Blvd, Ste 150
Las Vegas, NV 89128
Direct: 702-372-2671
Fax: 702-543-4845
Website: www.OliviaSellsVegas.com
Email: Olivia@OliviaSellsVegas.com

Olivia McClellan and Barbara Cutter manning the Women's Council of REALTORS booth at the 2006 REALTOR Rally in Las Vegas.

Olivia McClellan, ABR, GRI, RRG
Broker/Salesperson, REALTOR®
Liberty Realty
7674 W Lake Mead Blvd, Ste 150
Las Vegas, NV 89128
Direct: 702-372-2671
Fax: 702-543-4845

Developers continue to add incentives to entice buyers to stop by with their REALTOR to check out what they have to offer.

Here are some of the incentives offered:

1. No money down using their in-house lender *subject to qualification
2. No HOA payments for one year
3. No mortgage payments for one year *needs explaination
4. Cash for Closing Costs
5. Incredible upgrade packages
6. Money to buy down your loan rate

Some developers are combining these offers and others offer one or two but each is different so matching your needs to picking our the correct incentives is critical.

One of my clients closed escrow last week on a very nice property. He had choice of reducing the price of the home by $10k or using the $10 to buy down his rate. We ran the numbers and buying down his rate was the way to go.

If he used the $10k to reduce his purchase price he would save roughly $70 on his mortgage payment.

By using the $10k to buy down his interest rate from 7% to 5.5% he saved $500 a month on his mortgage payment which ended up as a whopping $30k in savings in a 5 year period.

Knowledge is Power, use a REALTOR

Questions? Please call me to discuss how I can assist you with all of your Real Estate needs.

Olivia McClellan, ABR, GRI, RRG
Broker/Salesperson, REALTOR®
Liberty Realty
7674 W Lake Mead Blvd, Ste 150
Las Vegas, NV 89128
Direct: 702-372-2671
Fax: 702-543-4845
Website: www.OliviaSellsVegas.com
Email: Olivia@OliviaSellsVegas.com

How often do you get to check out a million dollar house in Southern Highlands?

If you are in the market for a spectacular home located on a cul-de-sac in one of the most sought after communities in Las Vegas, Sunday is the day to act.

Open House:
Date/Time: August 13th, 11 am – 4 pm
Location: Foothills at Southern Highlands,
Address: 5620 Benevento Court.

MLS# 599088 Priced at $990,000 and includes the pool table located in the game loft.
* Also $5,000 bonus to Buyers Agent with Full Price Offer

Click on the link for directions to the property.

See you Sunday!



Olivia McClellan, ABR, GRI, RRG
Broker/Salesperson, REALTOR®
Liberty Realty
7674 W Lake Mead Blvd, Ste 150
Las Vegas, NV 89128
Direct: 702-372-2671
Fax: 702-543-4845
Website: www.OliviaSellsVegas.com
Email: Olivia@OliviaSellsVegas.com

Wednesday, August 9th, 2006 - Las Vegas Chamber of Commerce Luncheon at the Four Seasons Hotel on the Las Vegas Strip. Our self proclaimed, Happiest Mayor in the World" Mayor Goodman spoke to a packed room about Las Vegas and how he is promoting the downtown revitalization projects as well as Las Vegas as a whole. Two showgirls in red regalia flanked his sides as he entered and exited the luncheon with the two showgirls on his arm. Olivia chatted briefly with Mayor Goodman briefly about potential downtown development projects.

Our Current Listings:
Below are current listings from REALTORS in Las Vegas, Nevada.

Las Vegas Homes:

639579 - 5620 Benevento Ct, Las Vegas NV 89130 Located in Foothills at Southern Highlands
603834 - 5575 Villa Lucia, Las Vegas, NV 89134 - Pending
593407 - 8301 Boseck Drive, Las Vegas NV, 89145
621049 - 5042 Ridge Drive, Las Vegas, NV 89103
617726 - 8921 Rio Verde Ave, Las Vegas, NV 89147
631537 - 8713 Glistening Pond St., Las Vegas NV 89131

Las Vegas Condos:

639580 - 8600 West Charleston Ave, Las Vegas, NV 89117 Located at Park1
639578 - 10233 King Henry, Las Vegas, NV 89144 Located at Carlise at Summerlin
638486 - 10550 West Alexander Rd. , Las Vegas, NV 89129 Located at Chateau Versailles

The data related to Real Estate for sale on this website comes in part from the INTERNET DATA EXCHANGE (IDX) program of the Greater Las Vegas Association or REALTORS® MLS.

Real Estate listings held by Brokerage firms other than this site owner are marked with the IDX logo.GLVAR deems this information reliable but not guaranteed.

Copyright © 2006 of the Greater Las Vegas Association of REALTORS® MLS. All rights Reserved.

Olivia McClellan, ABR, GRI, RRG
Broker/Salesperson, REALTOR®
Liberty Realty
7674 W Lake Mead Blvd, Ste 150
Las Vegas, NV 89128
Direct: 702-372-2671
Fax: 702-543-4845
Website: www.OliviaSellsVegas.com
Email: Olivia@OliviaSellsVegas.com

As reported in INBusiness on Aug 1st, Vegas888 has closed it's sales office due to sales being behind schedule. Del Webb American was the developer for Vegas888.

Vegas888 was going to be located on Flamingo next to the Palms new tower and Palms Place.


Thanks

Olivia

Olivia McClellan, ABR, GRI, RRG
Broker/Salesperson, REALTOR®
Liberty Realty
7674 W Lake Mead Blvd, Ste 150
Las Vegas, NV 89128
Direct: 702-372-2671
Fax: 702-543-4845
Website: www.OliviaSellsVegas.com
Email: Olivia@OliviaSellsVegas.com

As reported in INBUSINESS on August 1st, Spanish View Towers secured financing to start construction again after a brief work stoppage due to construction liens.

Good news for this great project located in the growing southwest vegas valley.

If you have questions or would like to secure a Spanish View Tower Unit call me at 702-372-2671.

Thanks

Olivia

Olivia McClellan, ABR, GRI, RRG
Broker/Salesperson, REALTOR®
Liberty Realty
7674 W Lake Mead Blvd, Ste 150
Las Vegas, NV 89128
Direct: 702-372-2671
Fax: 702-543-4845
Website: www.OliviaSellsVegas.com
Email: Olivia@OliviaSellsVegas.com

Our Current Listings:
Below are current listings from REALTORS in Las Vegas, Nevada.

Home:

599088 - 5620 Benevento Ct, Las Vegas NV 89130
603834 - 5575 Villa Lucia, Las Vegas, NV 89134
593407 - 8301 Boseck Drive, Las Vegas NV, 89145
621049 - 5042 Ridge Drive, Las Vegas, NV 89103
617726 - 8921 Rio Verde Ave, Las Vegas, NV 89147

Condos:

599089 - 8600 West Charleston Ave, Las Vegas, NV 89117
587101 - 10233 King Henry, Las Vegas, NV 89144
614617 - 10550 West Alexander Rd. , Las Vegas, NV 89129

The Great Mall of Las Vegas is planned to be 1.6 million-square-foot and located in Centennial Hills area in northwest Las Vegas. It will be an indoor and outdoor retail components, architect according to Howard Perlman, noted in the Review Journal Junly 31, 2006.

The indoor portion is three stories, with anchor tenants at each end and three levels of shops, all in an air-conditioned environment for hard-core shoppers who easily spend eight hours in a mall, he said.

The outdoor "lifestyle" component is similar to The District at Green Valley Ranch, developed by American Nevada Co., Perlman said. It will have a mix of entertainment and retail with 900 residential loft units on top. Maximum height for the two condo towers is 200 feet.

The 50-acre site plan includes retail, offices, a food court, theaters, common areas and enclosed park.

Please contact me if you have any questions.

Olivia McClellan, ABR, GRI, RRG
Broker/Salesperson, REALTOR®
Liberty Realty
7674 W Lake Mead Blvd, Ste 150
Las Vegas, NV 89128
Direct: 702-372-2671
Fax: 702-543-4845
Website: www.OliviaSellsVegas.com
Email: Olivia@OliviaSellsVegas.com

TOWN SQUARE: Steel framework for the 1.5 million-square-foot Town Square retail and lifestyle center is taking shape on Las Vegas Boulevard South at Sunset Road.
Las Vegas-based Centra Properties and Florida-based Turnberry Associates are developing the $750 million project.

Marnell Corrao Associates is the general contractor and Development Design Group of Baltimore is the architect.

The 117-acre Town Square will create an open-air village, Main Street environment anchored by Rave Motion Pictures, Robb & Stucky, Borders and 24-Hour Fitness.
Tommy Bahama's Tropical Cafe, Yardhouse and Texas de Brazil will open their first Las Vegas restaurants at the center.

Thanks, Olivia

Olivia McClellan, ABR, GRI, RRG
Broker/Salesperson, REALTOR®
Sweet Home Realty
7935 W. Sahara Ave., Ste 101
Las Vegas, NV 89117
Direct: 702-372-2671
Fax: 702-543-4845
email: olivia@oliviasellsvegas.com

According to various Websites has announced she will be opening a hotel in Las Vegas. Her sister Nicky Hilton announced last month Nicky O South Beach a boutique hotel in South Beach Miami.

Stay tuned for the next cool Las Vegas hotel, maybe.

Olivia

JUHL announced that progress is moving forward and the development is heading skyward. That is great news for the people who have reserved units and downtown as a whole.

SOHO lofts is already closing units and moving people in. Newport Lofts is getting close to top off. Streamline is moving along also.

JUHL had a gala event last week where the Mayor attending and celebrated yet another project that is moving forward downtown. This means the Mayors master plan of redeveloping Downtown is one step closer. We have been watching to see what happends with the 61 acre parcel that has so much promise for downtown. Related pulled out of the deal earlier this year stalling plans.

Stay tuned.

Olivia

Olivia McClellan, REALTOR® ABR, GRI, RRG
Sweet Home Realty
7935 W. Sahara Ave., Ste 101
Las Vegas, NV 89117
Direct: 702-372-2671
Fax: 702-543-4845
email: olivia@oliviasellsvegas.coM
Website: www.oliviasellsvegas.com

As reported in the Las Vegas Business Press on 7-7--06, The Spanish View Towers has had multiple liens filed against the property by HB Construction of Costa Mesa, CA.

The project was planned for three 18 story buildings totalling 444 residences. Spanish View recently broke ground and was making progress before the project halted.

For more info or a link to the article please call me at 702-372-2671

Olivia

Olivia McClellan, REALTOR® GRI, ABR, RRG
Sweet Home Realty
7935 W. Sahara Ave., Ste 101
Las Vegas, NV 89117
Direct: 702-372-2671
Fax: 702-543-4845
Office: 702-228-3070
email: olivia@oliviasellsvegas.com
Website: www.oliviasellsvegas.com

This low rise development has just released 11 units on the resale market. This development had sold out pretty quick once it released. The prices range from $510 to $840.

This project is in a great area near the airport and the Las Vegas Strip.

Call me for more info.

Olivia

Olivia McClellan, REALTOR® GRI, ABR, RRG
Sweet Home Realty
7935 W. Sahara Ave., Ste 101
Las Vegas, NV 89117
Direct: 702-372-2671
Fax: 702-543-4845
Office: 702-228-3070
email: olivia@oliviasellsvegas.com
Website: www.oliviasellsvegas.com

A 2.7-acre parcel on the northeast corner of Main Street and Bonanza Road is Aquitania lofts, a proposed commercial and residential mixed-use project.

The project is slated to have 296 units in eight stories with two levels of underground parking. The first floor would have 35,000 square feet of retail space.

Lofts range from 825 square feet for one-bedroom units to 1,600 square feet for three bedrooms, selling from the low $200,000s. Dennis Rusk is the architect.

For more infomation about Aquitania Lofts call me.

Olivia

Olivia McClellan, REALTOR® GRI, ABR, RRG
Sweet Home Realty
7935 W. Sahara Ave., Ste 101
Las Vegas, NV 89117
Direct: 702-372-2671
Fax: 702-543-4845
email: olivia@oliviasellsvegas.com
Website: www.oliviasellsvegas.com

The High Rise market in Las Vegas continues to grow despite cancelled projects.

The announcement of Las Rambles and the Hard Rock condos cancelling has many people scrambling over the demise of the Las Vegas high rise market and expecting a screeching halt to the Las Vegas market growth.

In the fact the truth is just exactly the opposite.

One May 12th 2006 The Hard Rock Residences cancelled plans to build their condo project allowing Morgan’s Hotel Group to purchase the Hard Rock casino and Hotel along with the 23 acres originally slated for condo/hotel development for $770 million in cash. This is hardly a story of the real estate market losing ground. Peter Morton originally built the Hard Rock for $80 million in 1994 and expanded in 1999 at the cost of another $100 million. The sale of the project and land for $770 million in cash is a realized appreciation of more than 200% over just 12 years. The net profit to Mr. Peter Morton was over $731 million. The 23 acres are being developed on every side and if the new owner, Morgans, decides not to develop the land, they have expressed the possibility of selling it so someone else who can develop.The same is true of The Related Las Vegas project, Las Ramblas. The cancellation of Las Ramblas does not signify a loss. Far from it, in fact. Related and its partners sold the 25-acre site for $202 million, more than twice what they paid just a year ago. The buyer, the Edge Group, plans to develop an upscale, boutique hotel-casino complex, adjacent to their other project currently in pre-construction sales, being co-developed with the W Hotel. The W Las Vegas condominium-hotel is a $2.5 billion, 4,000-unit project. The Edge Group now controls 50 acres in the Harmon Avenue area just off the Strip.

These cancelled projects are simply the nature of a growing market in which some developers will choose to cash in and let someone else do the building. The fact they’ve been able to cash in with such enormous gains is the true indicator of the land value and the long term value of the Las Vegas market.

With all the craze of investors, speculators, and double digit appreciation, the truth seems to get lost in the shuffle. The truth is Las Vegas is growing and with land costs rising, just as in any cosmopolitan city the development is by shear nature of land scarcity becoming more dense and ultimately vertical. Las Vegas continues to show a strong job market, historically low vacancy rates, and remarkable year after year tourism growth.
Not every high rise proposed will get built this year or ever, but remember New York City wasn’t built over night. The fact that only about 17 projects have currently broken ground with only about half of these actually coming to the market in 2006 keeps the market from being flooded with too much inventory. This will help to maintain competition and increase demand allowing owners to preserve property values. This is important in an economy were national data suggests that 39% of major housing markets are over-valued. Most cities included are markets that have had major increases in appreciation over the past few years but the population growth and the job markets are also taken into consideration. Equally important, is that Las Vegas despite the double digit appreciation as the hottest market in the country for the past few years is not included in the top twenty on this list, which includes cities in California, Arizona, and Florida.Las Vegas as a city beyond the Strip, is in its’ infancy and although we won’t meet the unrealistic expectations of double digit appreciation year after year, Las Vegas continues to be a solid investment, so if you’re interested in the high rise market for residency, second home, or investment, the potential to get into a property on the ground floor still exists.

If you are interested in information about Las Vegas high rises, please contact me Olivia@OliviaSellsvegas.com

Olivia McClellan, REALTOR® GRI, ABR, RRG
Sweet Home Realty
7935 W. Sahara Ave., Ste 101
Las Vegas, NV 89117
Direct: 702-372-2671
Fax: 702-543-4845 Office: 702-228-307
0email: olivia@oliviasellsvegas.com
Website: http://www.oliviasellsvegas.com/

Spa Lofts in Las Vegas

The rendering of Spa Loft looks amazing. Another wonderfully designed project has joined the mix.

Location: South West Las Vegas 215 PKwy/RainbowBldg.
Type: Condo/LoftsNo. of Towers: 3
No. of Stories: 3
No. of Units: Unit Sizes:
Lofts, 2, & 3 bedrooms
Price Range: Square Footage: 1276 sf - 1500 sf
Status: Pre Public release June 2006Estimated
Break Ground Date:
Estimated Completion Date: Developer: The Light Group

Call me for more info

Olivia

Edge Resorts aquires Las Ramblas, the 25-acre Las Ramblas development site along Harmon Avenue, between Paradise and Koval roads, just west of the Hard Rock Hotel & Casino. Edge paid $202 million for the property, which sits next to the W Las Vegas project it is developing in partnership with Starwood Hotels and Resorts Worldwide.

George Clooney and partners announced the closure on 6/5/06 after months of speculation.

Olivia McClellan, REALTOR® GRI, ABR, RRG
Sweet Home Realty
7935 W. Sahara Ave., Ste 101
Las Vegas, NV 89117
Direct: 702-372-2671
Fax: 702-543-4845
Office: 702-228-3070
email: olivia@oliviasellsvegas.com
Website: www.oliviasellsvegas.com