Posted by B H - September 13th, 2012
Las Vegas luxury condo prices are up per property management firm Northcap this month. The average price per square foot for a Las Vegas luxury condo sold in the second quarter of 2012 was approximately $180. That represents an 8.7 percent increase of the past twelve months in the price per square foot. At Luxury Realty Group, your Las Vegas luxury real estate brokerage, we’ve experienced similar data in our recent luxury condo sales. Does this mean Las Vegas has experienced a bottom in the luxury condo market? Maybe. One more quarter of favorable luxury condo real estate price increases will help us determine the direction our real estate market is heading. With Phoenix and California markets already showing favorable price increases, Las Vegas can’t be too far behind that trend.
Posted by B H - May 26th, 2012
I’ve been saying for some time to so many naysayers out there after the Las Vegas real estate market collapse, don’t bet against Las Vegas. Historically Las Vegas has reinvented itself many times and now it appears its rebirth is beginning to get started, albeit slowly.
Recently, per Ray Germain, investment property broker for Marcus & Millichap in Las Vegas, the 16,000 square foot Walgreen’s store located at Convention Center Dr and Las Vegas Blvd, was sold. The sale price equated to $1,736 a square foot, the highest price paid per square foot for a single-tenant leased drugstore in the USA. Similar priced properties have sold in Miami and New York City for less.
This same property sold for $12.2 million in 2004. This sale price was $27.8 million. Still betting against the return of Las Vegas? Careful where you place your money now in this amazing city.
Posted by B H - April 16th, 2012
The number of Las Vegas high rise condo foreclosures has dropped significantly as of April 16, 2012. Luxury Realty Group searched the MLS across the major high rise condo and hotel condo communities near the Las Vegas Strip and was surprised at the results. Only eight foreclosures are available for sale. Of the eight, none showed for Panorama Towers, only one showed for Turnberry Place and only one showed for Turnberry Towers.
Posted by B H - March 16th, 2012
Las Vegas Palms announced it is closing its Playboy Club. The Las Vegas Review Journal gives details in their article http://www.lvrj.com/business/palms-announces-closing-of-playboy-club-142949355.html
Posted by B H - December 19th, 2011
Bruce Hiatt, Broker for Luxury Realty Group, a boutique Las Vegas luxury real estate brokerage, presents surprising statistics in his 2011 year-end video report.
Posted by B H - October 26th, 2011
Bruce Hiatt, broker of Luxury Realty Group in Las Vegas, published his latest Las Vegas real estate market report this week.
Posted by B H - May 7th, 2011
Nevada’s statewide shadow foreclosure inventory by the banks and lenders was reported to have a seven month supply by the National Association of Realtors USA state level report in March, 2011. Is that trend showing in Las Vegas? You decide for yourself. (more…)
Posted by B H - April 18th, 2011
www.LuxuryVegasCondos.com has seen many transformations since the early 2000’s. Now with its new makeover in progress, buyers seeking Las Vegas luxury condos can search by specific high rise tower. More changes are in the works per Luxury Realty Group that will give buyers a great website for researching Las Vegas luxury condos for sale, especially foreclosure condos and short sale condos.
Posted by B H - April 13th, 2011
The world of Las Vegas luxury real estate just got better in April. Bruce Hiatt, broker of Luxury Realty Group, is now the exclusive luxury real estate member in Las Vegas for the Haute Living Real Estate Network. With Haute Living, a publication and website designed for the uber wealthy, you cannot apply to be a member as it’s an exclusive invitation only network.
Posted by B H - January 24th, 2011
Are you kidding me? Do you really believe you can buy a Las Vegas luxury condo on the Strip under $140,000? Well per the Greater Las Vegas Association of Realtors MLS listings you can.
As of January 24, 2011, there are two one bedroom luxury condos at Sky Las Vegas, located on Las Vegas Blvd in the Strip area, for sale under $140,000. I will caution you however both are short sales and short sales may or may not happen depending on many factors including approval by the lenders involved.