Internationally awarded and recognized, Luxury Realty Group is respected for setting a golden standard in elegance, service, exclusivity, and technology. Through its integrity to client representation and privacy, the boutique real estate firm has earned the trust of some of the world’s most prominent figures.

Luxury Realty Group is comprised of just a few hand-selected members, all invited into the firm because of their knowledge and experience with high-rise condominiums and fine homes. From cutting-edge websites to some of the most expensive sales in Las Vegas history, everyone walks the talk.

As consultants to several Wall Street Firms and the Associated Press, members of Luxury Realty Group make regular appearances in the media including CNBC, ABC News, CBS News, FOX News, Wall Street Journal, Forbes, Fortune, New York Times, and Los Angeles Times.
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Forbes Declares Las Vegas A Best Place to Buy Real Estate

Posted by Bruce Hiatt - November 5th, 2007
Categories: High Rise Condos

Is anyone listening? Forbes magazine and Moody’s Economy.com both declared in October, 2007 that Las Vegas is one of the top 10 places to buy real estate. Surprised? We’re not.

Even today, the Las Vegas Review Journal echoed these two authoritative publications and their declaratation for Las Vegas real estate. Course the Review Journal placed their article on an inside page as part of another unrelated article so that it wouldn’t make too much noise. Afterall, good news does not sell newspapers.

So what next for buyers sitting on the fence? Both Forbes and Moody’s proclaimed the buying window of opportunity is now until Fall 2008. That may be true for single family homes but in luxury high rise condos on or adjacent to the prime Strip, the supply is very limited. Strip land continues to appreciate and so do the costs to build luxury condos and hotel condos.

Course we don’t mind if you wait to buy because it will cost you higher prices than today’s deals. Forbes and Moody’s echoed that fact as they believe the Las Vegas real estate market has a strong capability to bounce back since Las Vegas is one of the fastest growing cities in the US. They failed to note however that Strip land prices over the past three years have risen 8 times from $4 million an acre to $34 million an acre. How can Strip located luxury high rise condo prices go lower if land prices are soaring? They aren’t heading that way and CNBC in September 2007 underscored that statement when they shouted the average price per sq foot for Las Vegas luxury condos is now $1600 to $3000 and rising.

So with prices now at Sky Las Vegas under market on a price per sq foot basis at a range of $500 to $1500, seems like buying time to us. Buyers. Don’t sit on the sidelines too long. International buyers have already discovered that they can save 50% given how weak the US dollar is and they are grabbing the good luxury condo deals now.

Call Bruce Hiatt at (702) 456-7080 x201 for today’s opportunities in Las Vegas luxury condos and hotel condos.

Copyright 2007, Luxury Realty Group, Inc. All Rights Reserved.

Bruce Hiatt, Broker, CRS can be reached at 702-456-7080 x201.
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Copyright © 2008 Luxury Realty Group LLC. All rights reserved.