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

We all have heard there are a ton of foreclosures in Las Vegas spuring a host of foreclosure services from bus tours to specialzed agents. It is truly like panning for gold when searching for a foreclosure.

Sure the home home is going for $100k or more less than other listed properties in the same area BUT you have to consider cash out of pocket to get the property either rent ready or livable.

We have seen some pools that could double for Loch Ness meaning there is some serious work needed to be functional. Some of the foreclosures are picked clean. The former owners or tenants have removed all of the appliances, fixtures, celing fans, lighting and in some cases the carpet and pad.

Be aware and don't settle for something because its cheap.

One of the biggest problems is there are no photos online to compare apples to apples. This is why we have started TourLVForeclosures.com , a Website dedicated to giving you photos and video of foreclosures in Las Vegas. We are starting with Summerlin specifically and moving from hotspot to hotspot in Vegas. Check it out today!

In Business March 5

Lenders such as BankUnited have elected not to lend to some areas because of declining prices and foreclosures. The South Florida Business Journal reported that Bank United drew up a non-permissible condominium-project list of 191 condo developments in Las Vegas and Florida that it wouldn't finance.

The list included such Las Vegas projects as Allure, the District, Manhattan, Newport Lofts, Panorama, Park Avenue, One Queensridge Place, Meridian at Hughes Center, Sky Las Vegas, Soho Lofts, Turnberry Place and Turnberry Towers.

Local brokers, however, said they haven't used the lender for high-rise loans and cited other options.

If you have a condo, townhouse or home that is vacant and you need a tenant call us.

We have tenants looking for rental properties all around the Las Vegas Valley. We are a full service property management company who will find a tenant, lease your property and manage it monthly by collecting rent along with a host of other services.

Give us a call or check out www.PropertyManagerLV.com for list of services and pricing.

Triple8 Associates

Pinnacle Las Vegas, a high-rise condo project planned for the former site of Falconi Honda on Tropicana Avenue, has been canceled as reported in the real estate section of the Las Vegas Review Journal.

RISING VACANCY: Apartment vacancy in Las Vegas rose to 9 percent in January, up from 8.4 percent in December, CB Richard Ellis, a commercial real estate brokerage, reported. The breakdown by class shows 7.76 percent for Class A (28,082 units), 9.38 percent for Class B (42,000 units) and 9.67 percent for Class C (26,148 units) as posted in the Review Journal

The RJ reported that Construction has stopped on Vantage Lofts in Henderson and the sales center is closed while Slade Development works out a new financing plan. Vantange expects financing will be in place within the next couple of weeks and then he'll proceed with construction. More as it breaks.

There are many opportunities in Las Vegas based on the foreclosures and prices that have been driven down based on over-all market.

There are homes in Summerlin that a few years ago were selling for 500k that are now availabe in the low 300's. Summerlin is one of the most desirable areas in Las Vegas based on location, location, location. The amenities in and around Summerlin make it what it is.

For details on foreclosures or real estate in Las Vegas give us a call or email us. We can setup a watch list based on your requrirements. When a property is put on the market that meets your specifications, you will recieve an email notifying you.

This will allow you to react and schedule to view the property. To setup an automated search stop by www.Triple8Associates.com

Olivia

The Review Journal posted the 4th quarter real estate appreciation stats of 2007. They weren't pretty with 56 of the 61 zip codes in negative digits. The few zip codes that were positive may be a bit squewed due to the high rise luxury condos mixed in. For a full list and to review the map check out my investor hotlink section on www.oliviasellsvegas.com

Pinnacle Development was recently hit with a class action lawsuit by frustrated buyers. Pinnacle has not broken ground after changing contractors three times in three years. See more in our investor section for the full Review Journal article.

The new year brings new deals and Buyers are starting to jump off the fence and take advantage of foreclosures and new home incentives.

One of the main strengths of Triple8 is our relationships with builders and developers so we get a priority position on all special deals.

Please do not hesistate to take advantage of utilizing our experience in the local market. Remember as a Buyer there are no fees to you.

Triple8 Associates Inc
702-372-2671

Happy New Year from all of us at Triple8 Associates in Las Vegas.

May your 2008 bring you health and successful investments.

Triple8 Associates Inc.

Business Press announced that Spa Lofts a development by The Light Group has been cancelled or suspended.

The planned mid-rise is the latest development to be cancelled due to slowing market conditions.

Current Hgh, Mid, Loft Resales in Las Vegas, NV. The lower prices reflect 1 bedrooms or studios depending on the project. The higher prices are usually penthouse units.

Downtown Las Vegas
NEWPORT LOFTS - Resales (13) Range: $464k- $838k
SOHO LOFTS - Resales (27) Range: $459k- $4.7 mil
Streamline Tower - not completed can get pricing
The Verge - not completed sold out

Las Vegas Strip
Allure Las Vegas - Resales (5) Range: $448k- $494k - There are a few 1 beds around $425k available
Sky Las Vegas - Resales (56) Range: $399k- $5.9 mil
City Center - not completed can get pricing
Trump International - not completed can get pricing
Planet Hollywood Towers - not completed can get pricing

South Strip
PARK AVENUE - Resales (51) Range: $204k- $499k
Loft 5 - Resales (12) Range: $525k- $7194k
Boca Raton - Resales (4) Range: $399k- $700k
Onyx - Resales (1) Range: $810k
L5 - not completed can get pricing
Brickwater - not completed can get pricing

East Off Strip
Platinum Condo Hotel - Resales (84) Range: $369k- $1.1 mil (Furnished Condo Hotel)
TURNBERRY M G M GRAND TOWERS - Resales (152) Range: $369k- $2.2 mil (Furnished Condo Hotel)
METROPOLIS - Resales (17) Range: $499k- $2.5 mil
TURNBERRY PLACE - Resales (82) Range: $448k- $12 mil
TURNBERRY TOWERS - Resales (83) Range: $4396k- $1.4 mil

West OFF Strip
PANORAMA TOWERS - Resales (108) Range: $435k- $12 mil
Palms Place - not completed sold out

West Summerlin OFF Strip
C2 LOFTS - Resales (12) Range: $696k- $1.5 mil
One Queensridge Place - Resales (8) Range: $2.1 mil - $5.96 mil
THE MERCER - not completed can get pricing
Luxe Lofts - not completed can get pricing

Henderson Green Valley
The District - Resales (1) Range: $575k

Give us call if you would like to view any of these units

The Verge ground breaking event downtown has been set for December 12th at 3pm onsite. This is great news for a great project. We are glad to see it get off the ground. If you stop by you might see Mayor Goodman on hand celebrating the Verge Ground breaking. We will be sending seperate invitations out to our clients who purchased a Verge unit. There may be a few units available based on drop out so if you are interested please email us.

If you are concerned about the increase of graffiti around the Las Vegas Valley its time to start cleaning it up.

If you see graffiti on any structure call a 24 hour voicemail hotline to report it. The Graffiti Hotline number is 702-455-4509.

If you catch a tagger or someone defacing any structure call 911 and report it to the police department.

This is non-profit line so support it to clean up Las Vegas. The number is being promoted by Kevin L. Child from Deiro & Associates

The official holiday season has started flooding the malls with shoppers and the builders putting homes up for sale slashing prices.

Every year, builders do their best to unload inventory at the end of the year to clear there books. If you are waiting or sitting on the fence it might be time to talk a look at the inventory.

There are million dollar homes going for $600k with golf course views. Some are new homes others are resales that have never been lived in.

So if you are a buyer, who is interested in seeing what is available, give us a call at T8A.

Check out our other Las Vegas Blogs

• Rentals
• New Homes
• Las Vegas Condos
• Open House in Las Vegas
• Technology Blog
• Relocation Links
• Triple 8 Associates Main Blog
• Las Vegas 2006 and Beyond

The new Trump Tower in Vegas stands out with a large T lit at night along with TRUMP on the sides of the building. Tower II is scheduled to break ground in 2008 now that the Frontier has been flattened and clean-up has begun.

Las Vegas is just one city that Trump is building high rise luxury condos in. He is currently either has built or is building in New York, New Jersey, Honolulu, Los Angeles, Chicago, Florida, Dominican Republic, Seoul, Toronto, Panama, Mexico, Connecticut and future development sites in Soho, NY, Atlanta, New Orleans and Dubai.

Trump dominates the luxury high rise market with his exclusive product and unstoppable brand.

Trump stands apart from other developments in Las Vegas due to the fact it is exclusive, high end and very expensive per square ft. If you are looking for exclusivity in Las Vegas give us a call to check inventory.

C2 Lofts located off the 215 and Charleston in Summerlin started move-ins this month. This property is one of the few properties in Las Vegas that features a true loft residence with high ceilings and sleek comtemporary design.

Most units have huge floor to ceiling windows and some of the most high end upgrades available. The builder Christopher Homes has a reputation of designing and putting out a great product within the luxury sector.

C2 Lofts is located near red rock canyon, shopping and restaurants. There is also one of the most anticpated shopping malls being built across the freeway which is patterned after Fashion Island in Newport Beach CA. If you shop and live in Las Vegas this is a wonderful addition.

There are units available at C2 Lofts for sale and for corporate lease so call us if you have questions.

Is it really a bad market or just a Buyers Market?

All of our clients who have purchased either a resale, bank foreclosure or new home have been pretty happy with the incentives and results.

Are my Sellers happy? "No" especially if they have to sell. They feel like they are wading out into waist deep waters knowing there are sharks swimming around. If they are not priced close to market most of them are getting offers 20% below asking. So not happy.

In 1999,2000,2001,2002.2003 it was a Sellers Market and Buyers were paying over asking and getting into bidding wars. The Buyers weren't happy when they were buying but in 6 months when they put that home back are the market and Flipped it for a nice profit, they turned into a Seller and they were happy.

Really, is there a Bad market or just a Buyers Market and Sellers Market. The market shifts back and forth almost like one of those wave machines that sits on your desk. It is sure to shift the other way.

Las Vegas continues to have about 6,000 new residents a month and tourism is maxing out McCarren Airport. There are many new residential and condo hotels on the verge of hitting the market AND MGM Mirage City Center is moving along nicely. By the way have you heard, City Center II on the north end of the Strip...

If you are buyer who is looking for something specific in Las Vegas give us a call we will research it to let you know if it is available and at what price. There are one bedroom units on the strip available for around 400k. Just give us a buzz

360 Marketing was taught by a husband and wife team Harley and Karina Rouda team, Great class teaching REALTORS about new technologies in marketing. The spoke regarding there 360 degree marketing and many phases of how to advertise in today's economy.

The Sands Convention Hall was full with REALTORS from all around the world. During the day most attended classes along with visiting with exhibitors in the main hall.

The feature speaker today was Bill Cosby who with his humorous twist spoke to a packed room about the positives of the current market. A fun break from the hustle and bustle of the convention.

More coming soon...

Seth Godin spoke today at NAR 2007 in Las Vegas to a packed audience.

The topic was permission marketing and how REALTORS need to stand out from the crowd to be successful. His hour and half seminar covered branding and how to utilize a changing market to get ahead.

I will be posting more about NAR soon about other exciting products and services at this years NAR show..

Town Square by Turnberry has opened on the South Las Vegas Strip.

Here are just a few anchor tenants located at Town Square:

• Abecrombie and Finch
• American Eagle
• Banana Republic
• Gap
• Lucky Brand Jeans
• Tommy Bahama
• Gymboree
• Aldo
• Skechers
• Kay Jewelers
• Bath and Body Works

and many more. Another great shopping mall opens in Vegas...

If you haven't been following the rapid growth of MGM Mirage City Center you are missing out on watching incredible growth on the World Famous Las Vegas Strip.

Boca Raton is the lastest mid rise to start move-ins into the brand new condominiums.

The 378-unit first phase has been completed and residents have begun moving into with more than 140 units closed. The developer is about 80 percent sold out with many units still available.

If you are interested in a luxury condo on the south strip, give us a call to find out what units are available and pricing.

Call for professional real estate assistance.

Olivia
702-372-2671

The Avenue is almost ready for move-ins and Wolfson Lofts is already planning another boutique Ultra Loft development in Las Vegas.

There aren't many details surrounding the new project The Strand but if it is anything like The Avenue it will be top notch.

Based on the Avenue there should be under 10 units so these will be reserved quickly. These probably are not units that you would purchase primarly as an investment to resell for a profit but an investment to live in based on the development's overall coolness.

For more info email or call me.

Olivia

Triple8 Associates Inc
5940 S. Rainbow Blvd. Ste 1007
Las Vegas, NV 89118
Direct 702-372-2671
Fax: 702-543-4845
Olivia@OliviaSellsVegas.com
Visit me online at www.OliviaSellsVegas.com

Palms Place, Las Vegas

If you own a unit, are buying a unit or have been in contract and released your earnest money to Manhattan Condos / Gemstone you need to read about the current lawsuit filed against Gemstone. (Click Here)

Contact Callister Reynolds (Kim or Brooke) for more info:

Callister & Reynolds Law Offices
823 Las Vegas Boulevard South
Las Vegas, Nevada 89101
Phone: 702-385-3343
Fax: 702-385-7743

Cash Positive with 12% CAP RATE

2 Model Homes for Sale

Builder Lease backs Silverado Ranch Area -

1. 2468 SF 3 bed 2sty, 3 car garage, POOL, full covered sundeck, retreat Includes all model home upgrades and furnishings - List Price: $609,007
2. 2834 SF 4 bed 2sty, 3 car garage, 1 bed down, separate family/dining - List Price: $643,059

Builder rent back at Rent of 1% of sales price per month ($6090/$6430)
Min. 18 month lease with options to renew up to 18 months. Cash Positive with 12% CAP RATE and no one living in the unit so no daily wear and tear and no maintenance as builder will handle all.
15% Down Required for Stated Income or 10% Down for Full Doc. 3% For Closing Costs also paid

Thank you

Jason and Olivia

McClellan Team, Liberty Realty
2920 S. Durango Dr.
Las Vegas, NV 89117
efax 702-543-4845
www.oliviasellsvegas.com

Olivia McClellan, ABR, GRI, RRG
Liberty Realty, Broker/Salesperson, REALTOR®
Direct 702-372-2671
olivia@oliviasellsvegas.com

Jason McClellan, REALTOR®
Liberty Realty, Salesperson
Direct 702-218-3302
info@oliviasellsvegas.com

A quote we live by: "You will miss 100% of all the shots you never take" Wayne Gretzky

CL3 Lofts is a mixed of office, warehouse and residential space being built in North Las Vegas. There apparently are some permit issues that have come up that are being resolved.

CL3 Lofts is planned for 44 units, including a café, with units priced from $600's.

The project was set for an August delivery.

If you are interested in true live work lofts call me today

Olivia

Palms Place construction is moving quickly with a scheduled late 2007 close coming up.




Palms Place is 100% sold out but as closings get closer there may be units available if you are interested please contact me.

Thanks

Olivia
702-372-2671

Another development breaks ground in Las Vegas.

Sullivan Square, a new mixed-use community in the southwest valley, is prepared to move forard and had it's groundbreaking ceremony yesterday.

Construction will begin with a 20-foot excavation for the underground parking area and laying of utilities.

This is one of the hottest mid-rise project in Las Vegas .

For more info or to tour the property please contact us.

McClellan Team, Liberty Realty
2920 S. Durango Dr.
Las Vegas, NV 89117
efax 702-543-4845
www.oliviasellsvegas.com

Olivia McClellan, ABR, GRI, RRG
Liberty Realty, Broker/Salesperson, REALTOR®
Direct 702-372-2671
olivia@oliviasellsvegas.com

Jason D. McClellan, REALTOR®
Liberty Realty, Salesperson
Direct 702-218-3302
info@oliviasellsvegas.com

I recently attended the Women's Wealth Conference in Newport Beach CA. There were many talented speakers on hand including one of my favorites, Terry Watson . I thought I would pass along a few of the books that were recommended:
Here they are:

• The Money Book for the Young, Fabulous & Broke


• The Hypnotic Salesman


• The Secret


• The Toyota Way


• Lean Thinking : Banish Waste and Create Wealth in Your Corporation, Revised and


• Generation Me: Why Today's Young Americans Are More Confident, Assertive, Entitled--and More Miserable Than Ever Before


• The E-Myth Revisited: Why Most Small Businesses Don't Work and What to Do About It


• The Richest Man in Babylon


• The Greatest Salesman in the World


• Think and Grow Rich: The Landmark Bestseller--Now Revised and Updated for the 21st Century


• As a Man Thinketh


• The Google Story: Inside the Hottest Business, Media, and Technology Success of Our Time


• Focus Like a Laser Beam: 10 Ways to Do What Matters Most


• The Millionaire Next Door


• Cashflow Quadrant: Rich Dad's Guide to Financial Freedom


• Blink: The Power of Thinking Without Thinking


• Who Moved My Cheese? An Amazing Way to Deal with Change in Your Work and in Your Life


• The Tipping Point: How Little Things Can Make a Big Difference


• The Wisdom of Crowds


• 96 Great Interview Questions to Ask Before You Hire


• High-Impact Interview Questions: 701 Behavior-based Questions to Find the Right Person for Every Job


• The Millionaire Real Estate Investor


• The Real Estate Entrepreneur


• Shortcut to a Miracle: How to Change Your Consciousness and Transform Your Life
  
• Ask It Is Given


• The Fred Factor
  
• 9 Steps to Financial Freedom: Practical and Spiritual Steps So You Can Stop
  Worrying; Revised and Updated Version
  
• The Courage to be Rich: Creating a Life of Material and Spiritual Abundance
  
• Women & Money: Owning the Power to Control Your Destiny
  
• Great Boom Ahead: Your Guide to Personal & Business Profit in the New Era of Prosperity


• The Roaring 2000s: Building The Wealth And Lifestyle You Desire In The Greatest Boom In History


• Rich Dad, Poor Dad (Rich Dad)


• The Millionaire Real Estate Investor

The fact that developers are building lofts in Las Vegas is great for locals who want a very untraditional home to live in. Pink Stucco houses with a 2 car garage and postage stamp of a backyard are a dime a dozen but a true loft with soaring ceilings and wide open spaces allows of True Living Space, IMHO.

The guys over at Urban Lofts are starting phase two of 11th Street Lofts a hybrid project - part loft, part townhouse but definitely hip and trendy. The only downside the project is being built east of Fremont street experience. The downtown revitalization is in progress but we won't see it spreading east for a while.

Urban Lofts 2nd project Fremont Street lofts is set to break ground shortly in the same area.

If you want an affordable, very hip loft/townhouse we would be glad to tour you on this property and other loft properties in Vegas. For more info go to www.nvlofts.com and find out why Olivia is your loft specialist in Las Vegas.

Thanks

Jason

Standhi will be the tallest building in downtown Las Vegas hosting over 425 luxury condominums adding to the selection of new downtown projects.

This is the lastest offering from Sam Cherry Development one of the top developers in Las Vegas. He has built Soho Lofts and is currenting finishing Newport Lofts. Standhi marks his 3rd offering in Las Vegas since the boom. Other developers are still working on the 1st completion.

To find out more information about this project please call me.

Thanks

Olivia

What is the state of the housing market in Las Vegas?

Buyers are having great time bargain hunting and finding deals on new homes. Resale’s - hit and miss based on sellers willingness to negotiate their price, many of whom are reluctant to lower prices because they are under water. Some because they refinanced and pulled cash out and with the slow down they have lost value and now owe more than the home is worth. Others of course went the route of negative amortization loans thinking they could flip or refi at a lower rate when the time came only to find, the time came and the rates went up and values down.

Many sellers are frozen and unwilling to listen to market data or their REALTORS®. The bottom line is if a seller NEEDS to sell - they may need to make concessions to sell the property. This is what developers are doing by offering huge buyer incentives like closing costs, upgrades, and back yard landscaping. Developers are also offering large realtor co-ops so re sale homes are competing against this factor as well.

Many sellers are testing the market and are not serious about selling unless it is at asking price AND on their terms even when the recent sales indicate a buyer could buy twice the home for half the cost elsewhere.

There is a collision either way with Buyers writing offers 20% or 30% under the asking price and Sellers listing their property over market comparisons adding in 2004 unrealized appreciation.

All of this contributed to an almost all time record of resale’s on the market in May, with over 23,000 homes listed for sale and a 2.8% decrease in the median home price from a year ago down to $301,352. And with only 1568 recorded sales in the month of May, sales are down 38.7%.

It's not pretty, Nevada leads the nation in foreclosures and nearly half the resales on the market are sitting vacant. I see out of state investors unwilling or unable to pay a property manager and unable to handle renting or maintenance and turnover long distance, so the property remains unrented and vacant. In the long run, this vacancy costs more, but many investors jumped into the hot real estate market with little to no experience and high hopes of making big bucks. Many did so without the assistance of a professional realtor and the foreclosures and short sales we are seeing is a result of that.

On the up side, in a buyers market like we have today, there are some great opportunities for an investor to buy low. Sitting down with a realtor to be educated about the market and discuss your long term investment goals can make all the difference in the right purchase. There hasn't been a better time to buy in the past 30 years, and despite the foreclosure rate there are still 100% loan programs and even some down payment assistance programs for owner occupied homes.

Call me today to get info on breaking deals.

Olivia McClellan, ABR, GRI, RRG
Liberty Realty
702-372-2671

Many of the new high rise condos have been closing units allowing occupants to move in. The other units are closing are investors leaving them vacant and put up for lease.

Investors that purchased out of state may inquire about leasing their units at www.thehighrisereport.com . Units can be furnished to compete for corporate rentals or staged with rental furniture when put on the resale market.

For more information please inquire at www.thehighrisereport.com

As reported in the Review Journal on May 30th, Spanish View Towers has come under fire and lawsuit from Buyers who were unable to recover deposits make on luxury units.

The project is over 18 months overdue leaving the towers sitting dormat for months. The project lost its financing and has been unable to get the project back on track.

There are other allegations regarding Jeannie Cutter from Prudental Americana.

More to come as it the news breaks

Olivia McClellan
Liberty Realty

Presido Heights in Las Vegas is under construction. This development features old fashion Brownstones and is located in one of the fastest growing areas of Las Vegas. Prices start in the $500's.

If you are interested in this development and want more info please call me at 702-372-2671

Thanks

Olivia

Olivia McClellan, ABR, GRI, RRG
Liberty Realty

Paxton Walk is located in Northwest Las Vegas which is rapidly becoming a true destination, a place where residents from other parts of the valley will soon travel to work, shop, conduct business, or enjoy an evening out, a great many people have shown an interest in having those activities available closer to home. At Paxton Walk, residents will be right in the middle of the action in one of the valley's most affluent areas.

Townhomes at Paxton Walk is a series of 65 townhomes along Slade Avenue. They are 1,678 and 1,698 square feet. One floor plan has three bedrooms, while the other has two bedrooms and a loft. Both designs have private courtyards and two-car garages.

Courtyards at Paxton Walk offers 374 flats or two-level condominiums in four-story buildings surrounding a secure garage that offers at-level parking and direct entry to each home. Nine floor plans range from 726 to 1,532 square feet.

Paxton Square Town Center is the heart of the mixed-use development. The first story includes 46,000 square feet for retail space, including two 7,000 square-foot areas designed for restaurants. The second story contains 50,000 square feet of office space. There are 72 one-level and loft homes on the third and fourth floors, which overlook a 27,000-square-foot courtyard for pathways, seating, and outdoor dining.

Gardens at Paxton Walk feature 271 single- and two-story condominiums in four-story buildings, surrounding a secure garage.

Several amenities will be available to residents only, including multiple swimming pools, spas and fitness centers. The 9,000-square-foot clubhouse at the center of the development includes a two-story great room, movie theater, billiards room, library and business center.
Prices range from the $200,000s to the $500,000s.

For more info please call me at 702-372-2671

Olivia
Liberty Realty

Boca Raton one of the latest mid rises to be built on the south strip is nearing completion. This is a very cool development with many diffrent style units, sand beach and the property is being built in a figure 8.

There are units still available so if you want more information on this promising development.

Call me at 702-372-2671

Olivia
Liberty Realty

The W Las Vegas mixed-use project slated for almost 50 acres along Harmon Avenue was canceled Friday after minority partner Starwood Hotels and Resorts Worldwide pulled out of the project.

This was proposed to be one of the hottest propertis inside Harmon Corridor. The W Hotel which has other projects in construction phase or completed had earmarked the Las Vegas property as their "Flagship."

According to The Edge Group, the land will go up for sale.

Stay tuned as the high rise market continues to reshape making developments that are in progress of being built or completed more valuable.

Thanks for stopping by

Olivia McClellan
Liberty Realty

A gem nestled amonst some older homes is a new community called 22 Parkside. It is actually a sister property of Stone Canyon Lofts.

If you havent seen some of the new single family loft homes at Stone Canyon Lofts you are missing out. They are very untraditional but very cool equipped with roof top decks and floor to ceiling windows.

This may not appeal to everyone but to me it is pretty awesome. Loft living allows tons of light and open spaces.

If you would like to visit this property or possible check for resales at Stone Canyon please do not hesitate to call me at 702-372-2671

Thanks for stopping by

Olivia McClellan
Liberty Realty

Donald Trump announced on NBC's The Apprentice that he is moving forward with tower 2 in Las Vegas. Within days they have taken 400 reservations..

MGM Mirage, which is currently building the massive $7 billion Project CityCenter on 66 acres on the south Strip, has assembled the acreage to construct a similar and potentially larger development on the Strip's northern end.

The Las Vegas-based casino operator will announce this morning it has finalized two Strip land acquisition deals worth a combined $575 million that will give the company more than 100 contiguous acres for development stretching north from Circus Circus Drive to Sahara Avenue.

Another massive project that according to the article in the Review Journal should start before City Center I is completed.

Stay tuned.

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

The casino company run by billionaire Sheldon Adelson said Tuesday it expects about $1 billion in net proceeds from the sale of luxury condominium units under construction at its Palazzo property on the Las Vegas Strip.

The Palazzo hotel will be a 50-floor luxury tower with approximately 3,025 luxury suites. The hotel lobby will feature a 60-foot glass dome, multiple two story fountains, imported marble, bronze case columns and special custom wall finishes. Guests arriving from the street will enter the domed entry lobby while those approaching from the Venetian Casino Resort will make the transition through a towering octagonal structure, itself topped by a glass and decorative iron dome. The floors throughout will complement the spaces with numerous interlocking patterns of polished veined marbles and colorful inlay strips. The landscape will be made up of palm trees, tailored paintings and exotically shaped topiaries.

This development is located in the heart of the strip amist some of the most valuable property in Las Vegas.

Call me for details.

The Waldorf Astoria Residences, the first purely residental property selected by the Hilton Family of Hotel to bear the legendary hotels name will be the address to only one hundred and sixteen of the discerning and privilaged few.

There are 792 Conrad Suites also located on the lower floors. Originally, called the Majestic there was considerable interests but then the project was put on hold.

The Waldorf - Astoria will be located one block from convention center putting it directly in the middle of Las Vegas.

Please call me if you are interested in Las Vegas High Rise Real Estate.

Olivia

Olivia McClellan, REALTOR®, ABR, CRS, GRI, RRG
Broker/Owner,
Triple8 Associates Inc
5940 S. Rainbow Blvd. Ste 1007
Las Vegas, NV 89118
Direct 702-372-2671
Fax: 702-543-4845
Olivia@Triple8Associates.com
Visit me online at http://www.triple8associates.com/

Construction has commenced in downtown Las Vegas on the $70 million Lou Ruvo Brain Institute, designed by world renowned architect Frank Gehry. The Institute,which is just a few blocks from downtown, comprises approximately 67,000 square feet and is Gehry’s first building in Las Vegas.

Headed by Dr. Zaven Khachaturian, PhD, and supported by internationally acclaimed researchers, the Institute will lead the fight against neurodegenerative diseases, including Alzheimer’s.

The project is funded by Las Vegas-based Keep Memory Alive Foundation, a non-profit organization dedicated to brain disease research, founded by Larry Ruvo, Nevada's senior managing director of Southern Wine & Spirits. The building is named after Ruvo's father, who died of Alzheimer's.

The Institute is scheduled to open in late 2008.

Club Renaissance bought out of foreclosure for $3.5 million as reported on March 23 on the ReviewJournal.com Website.

This project has been twisting in the wind for a while with rumors floating the plans to potential investors around the valley. It's time has come to make way for a development that might actually get built downtown.

According to the article, financing was its biggest problem. More to come on the genesis of the Renaissance.

2 bedroom 2 bath unit at Boca Park, Park1 Listed at $189,000

The unit has new carpet, new laminate flooring, all appliances, kitchen cabinet recently painted, crown moulding.

The unit has a tenant installed in a one year lease ending April 2008.

Great location priced to sell.

Call for information.

Olivia McClellan
Broker, Salesperson, REALTOR
Liberty Realty
702-372-2671

According to the Review Journal The Verge formally Aquintina Lofts was slated to be a Senior Housing Complex but due to escalating contruction costs had to be tabled in lieu of a more profitable venture.

The Verge is currently taking reservations for units starting at $141k.

This project is unique due to is location on Main and Bonanza.

If you would like more information, floor plans or unit pricing please call me at 702-372-2671.

Olivia McClellan
Broker, Salesperson, REALTOR
Liberty Realty
702-372-2671

Breaking High Rise News

According to Review Journal on March 21, 2007 Las Vegas Central is seeking to restructure is finances via Chapter 11 instead of giving up on the project.

They are currently seeking a partner on this Las Vegas project.

More to come as it develops.

Olivia McClellan
Liberty Realty

The Verge will soon enter the market in downtown Las Vegas. If you would like more info on this new product please feel free to contact me. I am attending the grand opening event for Brokers to secure units for my clients at entry level pricing. These units will be starting at around 140k.


Thanks

Olivia McClellan,
Liberty Realty
702-372-2671

Check out updated info on Spa Lofts by The Light Group on my business lens at Squidoo.com.

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

A 2.7-acre parcel on the northeast corner of Main Street and Bonanza Road has been renamed The Verge 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 The Verge call me at 702-372-2671.

Olivia

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

Project City Center released info on the massive 76 acre project located on the World Famous Las Vegas Strip.

The City Center Sales Center located in Belliago has been open for a while but was not releasing any information to the public or REALTORS.

Over the weekend, the Review Journal released more info on Project City Center:

- The Residences at Mandarin Oriental, Las Vegas
- The Harmon Hotel and Residences, Las Vegas
- Veer Towers

Each one is unique and is packed with amenties that will amaze you.

Please call me ASAP to reserve a unit in presales phase. This project started taking reservations on Nov 17th so don't miss out. If you would like more info please call.

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

As reported in the Review Journal, the Majestic Resort is back on!

Their Website has been revamped and is showcasing the all new Waldorf Astoria Residences in Las Vegas...

For more please call me at 702-372-2671

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

According to the Review Journal, the Sands is seeking permission to build a 632-foot tower that would allow for 849 condominiums.

This new residental tower would have 370 "ultra-luxury" units and the building would be at least "50 stories."

The placement of the development would be key to the area.

More to come

Olivia

10/20/06 Urban Village by Centex Closes it's Doors A project that was delayed for years, then marketed by the blue tipping group before being passed off to Centex to bring to market. Centax officially announced it's demise when it closed it's sales office.

For details about Urban Village or to find properties in Las Vegas contact me.

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
www.oliviasellsvegas.com
olivia@oliviasellsvegas.com

There are resales at Platinum Condos located off the World Famous Las Vegas Strip. Contact me today for a current price list concerning Platinum Condos or any other Condo Development 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 http://olivia@oliviasellsvegas.com olivia@oliviasellsvegas.com

Create Your Own!

On Friday, October 6th 2006 GLVAR held their monthly luncheon where the President Linda Rheinberger presented GRI graduates with their official certification.

Olivia McClellan received her certification as well as other local REALTORS.

Education is key to success.

More to come.

Admin

Housings trends follow a cycle and home prices tend to drop at the end of summer for multiple reasons.

First, there are the homes that were over-priced all summer and are still on the market. The owners become motivated sell after holding out all summer for the price they want to sell their home for and after making an additional 3 to 5 mortgage payments finally give in and lower the price.

This will force a community with multiple properties on the market to start a downward trend as one by one, each listing tries to undercuts the next to be the lowest on the market until the home sells. Often Sellers feel they are losing money by lowering the price when in fact if the home did not sell, the price profit the Seller envisioned was never a real number and the Seller has only lost time and money by paying additional mortgage payments.

Market value is only is often misunderstood and thought to be what your home appraised at or your neighbors home sold at. In fact the definition of market value is what one is willing to pay.

Secondly, there tend be less movement within a community after summer. Once children start school families tend to try and wait to move if possible so as not to disrupt the school. The same applies as we enter the fall months and holiday decorations appear in the store before Halloween. If given an option, many people will delay a move until after the holidays to account for family visits, travel, etc. This often means fewer homes go on the market during these months after the summer so historically inventory is reduced but it also means fewer buyers are in the market. For homes that have been on the market all summer, this impact the pricing and again we are likely to see a downward trend with buyer incentives.

If you are relocating or an investor the time to buy is now. Interest rates remaining relatively low and seller are finally after 5 years of a historically high sellers market, it is a buyers market. For those of you that think the rates have increased and are high it's important to pit this into perspective, not that long ago (1998, 1999) we we're all refinancing to get a 8% rate which at the time was a great deal.

Today with rates still in the low 6% to mid 7% it's an ideal time to pick up properties at reduced prices.

The fundamentals of the Las Vegas market remain strong. I can show you why.

Let's take a look at the market and zero in on what you are looking for and go get a great deal.

Call me for more info

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

MLS# 641792

3 Bedroom 2.75 bath Condo with garage on a 7956 ft lot

Very well cared for home on large private lot with covered patio, out door gazebo and spa. Great living space with formal living room and separate family room and 3 large bedrooms. Ceiling fans, water sftener, and satellite dish already installed. Priced to sell, compare comps and sq. footage.

Listed at $364,990

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

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

Home:

599088 - 5620 Benevento Ct, Las Vegas NV 89130
603834 - Pending - 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
631537 - 8713 Glistening Pond St., Las Vegas NV 89131

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

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