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Tuesday, December 19, 2006

Get a Steep Discount on a Panorama Las Vegas High Rise Condo Unit

Get this great deal TODAY! Click here to get going >>>Here's your chance to own a 2 bedroom, 2 bathroom plus office condo (with an extra parking space and additional storage space) in Tower 3 of the Panorama Towers, due to be completed in 2008.

What makes this such a great deal? For starters, the unit has dramatically appreciated since the current owner signed their reservation contract in February of 2005 and purchase contract in September 2005.

Now this is, as they say, where the plot thickens: you can buy this unit TODAY for the same amount as the purchase contract price of Feb. 2005! That price is approximately $850K and Panorama is currently selling comparable condos for close to $1.2 million.

So why would an owner leave all that profit on the table? Serious inquiries will get that answer. But lest you be skeptical, Panorama Towers will act as the intermediary themselves for this purchase transaction - so you'll have to come up with 20% of the purchase price of $850,000 ($170k) paid directly to Panorama and you will receive 100% ownership of the condo in return in anticipation of a mid 2008 close. This is an extremely rare deal in that Panorama usually does not allow unit assignments and are actually putting themselves in the forefront of this transaction, which insures the fact that you're not getting ripped off in any way.

In essence, you're buying a $1.2 million dollar condo for $850K in a project that's almost complete and have had nothing but good press since they started sales. This particular condo features a "C" 1417 square foot floorplan and a northeast view of the strip on the 35th floor of Tower 3. Needless to say, this deal will most likely go fast. First serious response gets it.

Monday, December 18, 2006

Meme Tagged by T. Longo

I recently was Meme tagged by Tony Longo, the owner of perhaps the best nationwide condo resource, the Condo Domain Blog.

What is a meme? Good question!, since I had no idea myself until I got tagged. Now I know a meme (rhymes with "dream") is a catch phrase or contagious idea, that spreads virally in a culture. In other words the idea is spread from one person to another by word of mouth or, in this case, via blogs in writing.

Meme-ing allows you to find out more info on the many people that make the blogisphere such an interesting phenomena. Your only requirement is to tell the world 5 things they probably don't know about you, so here goes:

1) In January, I'll have reached my 3-year anniversary as a Las Vegas resident. On my first day as a Vegas "local", I hit a royal flush on video poker (and on my first spin at that!) and haven't won anything else since.

2) I'll be traveling on my birthday (Feb. 26th) to South Africa in Johannesburg to go on Safari, followed by 4 days on the beach at Capetown where the Atlantic meets the Indian ocean.

3) An avid bowler, I once threw 13 strikes in one game without rolling a 300. I had my first 8 in a row, fouled while striking on the ninth shot, made the spare, then struck out in the tenth.

4) Before getting involved in Las Vegas investment real estate, I built websites for financial advisors and still maintain a number of ecommerce sites as a "hobby" such as NEW-U Village

5) Look for me in the upcoming Rocky Balboa picture. It was filmed in Las Vegas and I was part of a group of over 1000 who participated in the uncredited and unpaid crowd/group shots.

Now it's your turn. Pass the MEME challenge to 5 people and post a MEME of your own!

... and thanks to Sellsius for starting this fuss….

Friday, December 15, 2006

Has Starwood Pulled out of W Las Vegas High Rise Condo Hotel Project?

Edge Resorts, developer of the W Las Vegas on Harmon Avenue, has hired Credit Suisse Group of New York to explore "strategic partnerships" in the $1.7 billion mixed-use project. And why? Because it's widely rumored that Starwood Hotels has pulled out of the project. If true (and judging from the actions of Edge Resorts it certainly seems to be the case), this signifies a major obstacle to the viability of the W Hotel high rise condo project in Las Vegas.

Is the W Las Vegas dead?And while the 46-acre property supposedly is not for sale, Edge Resorts claim they have plenty of investors interested in purchasing the land, including lodging operators, private equity partners, financial sponsors and real estate developers. Of course they all go unnamed... either way, it's a bad sign for the fans of the "W".

With Strip land going for $8 million to $10 million an acre, Edge Resorts is still in an enviable position. Condo unit holders are not. The "W" is no longer taking unit specific reservations for condos after selling out the first two releases. Now, they're putting potential purchasers on a priority waiting list, which means they're trying to buy some time while they figure out what's going to happen.

Anything can happen, but Starwood pulling out of "W" is in no way a good sign for "W" high rise condo purchasers. Projects that have already begun construction and moving along nicely, such as Trump Las Vegas, Streamline, Juhl, and the Residences are looking better and better each day.

In fact, I've just become aware of 2 studios newly available at Trump - both are high floor facing south in the mid-$800,000s. Serious buyers need to act fast on this... perhaps a good alternative to "W"?

Tuesday, December 05, 2006

Scared by $1000/sq.ft. Pricing? Buy a Solid Las Vegas Tower Condo for $500 Instead

The Juhl Las Vegas mid-rise condo project continues to be one of the best deals in town. Already pouring the 3rd and 4th floors for the downtown Las Vegas condo development, construction progress is moving along quite nicely for the 214 unit owners (myself included) who have bought into the project already. When the 15 story building is all completed, Juhl will have 340 condo units and 24,000 square feet of ground-floor retail space.

JuhlWhat makes this project better than the rest? For starters, it's priced so much better than the $1000 per square foot pricing you're seeing on the Strip. Secondly, just about everyone on the development team boasts extremely impressive resumes with a string of successful projects in their wakes. And lastly, it's actually getting built! While not a "condo hotel", the majority of unit purchasers will be residents in the building - a big plus for those looking to live the high rise life in Las Vegas and knowing who your neighbors are.

If you're one of the many who've bought into failed high rise projects in town and perhaps got turned off by the Las Vegas high rise marketplace, units selling for $500/sq. ft. and below at Juhl may just be your cure. Ask yourself this question: which condo purchase will appreciate faster? A Strip unit at square footage pricing already at $1000 and above, or a downtown unit priced half of that or below in an area slated for major revitalization?

Why aren't you in Juhl yet? Email me with your all contact information. It's not too late to get a great deal with this project!

Saturday, December 02, 2006

Learn from the IMN Condo Hotel Symposium regarding Las Vegas High Rise Investments

One person's trash is another's treasure. How else can you explain the conclusion reached at the IMN Condo Hotel Symposium at the Mirage that "nothing effectively generates a buzz about the launch of a condo-hotel project like a powerful website". Most of the "powerful" websites supposedly selling their high rise projects do nothing to actually sell the project. These high rise marketing teams all believe an extravagant "Flash intro" movie along with those annoying Flash scroll bars and Flash loading screens actually translate into interest. From a website developer's point of view however, nothing could be further from the truth. In fact, potential purchasers looking for quick information get more frustration than answers from these websites. I think you know what I mean.

But that's not to say you can't take useful information from this conference. Here's the most important part of the conference you need to know: if you're looking to purchase a Las Vegas high rise condo-hotel, make sure you have a ton of disposable income and like to vacation in Las Vegas because you'd be hard pressed to make it work as a strict investment. Legally, real estate agents aren't allowed to mention anything regarding a return on investment for your high rise condo hotel purchase. Nothing! Agents can only sell the real estate and the lifestyle. We can't tell you how much your unit will rent for in 2008. We can't tell you what vacancy factor to use. And that creates a "catch 22" situation for most investors. You want to buy something that'll give you a certain percentage return, but you won't know what that percentage is until you buy the unit and rent it out.

The truth is, it probably won't work out to anything you'd feel comfortable with. Remember we're talking strictly from an income producing point of view - buying a high rise to live in or for a second home is an entirely different story.

For those looking for real estate as a strict investment, I recommend buying investment real estate instead. For those with the deep pockets looking to own something that says Trump, welcome to Las Vegas! There's plenty to chose from.

Tuesday, November 21, 2006

Stanhi Downtown Las Vegas High Rise Condo Project Announces Exclusive VIP Condo Release


If you've driven by downtown Las Vegas recently, you surely noticed the success of Sam Cherry's high rise condo projects. Soho Lofts towers over Charleston as a nearly completed high rise loft project where several unit owners are already moving in. Likewise, construction work continues on Soho's sister project, the Newport Lofts. Now, here's the question to ask yourself: in a city where high rise project after high rise project seems to be canceled, what are the odds of a twice-successful developer pulling a trifecta with a third downtown Las Vegas project?

Pretty good, I would think. And therein lies your opportunity with the newly released Stanhi Tower. Rising 45 stories at 500 feet, Stanhi will be the tallest building in Las Vegas' downtown, and will feature stunning views of the entire Las Vegas valley. Located at Third Street and Gass, Stanhi will offer the most building amenities of any Cherry project, and will rival those of the finest boutique hotels and world class resorts. Valet and concierge service, 24 hour doorman, cool/dry storage for deliveries, 8th floor pool, Jacuzzi, spa like facilities, work out room, business center, garden and pet areas, and 35th floor Zen garden observation deck, will all be included.

Units in Stanhi will range from 700 to 900 square feet and will be built out as one bedroom and one bath, with the majority of floor plans offering a den that can be built out as a second bedroom. Standard finished will include floor to ceiling window walls, a stainless steel appliance package, granite countertops, European style cabinetry, kitchen islands, and tile or stone flooring in the kitchen and bathroom. Bathroom standards will include a Japanese style soaking tub, glass enclosed shower, and modern finishes! Popular options will include sliding room partitions, various wood flooring choices, complete furniture packages, and the ability to combine adjacent units to create larger living areas or additional bedrooms.

The "Z" floorplan is 850 square feet and initial pricing is from the mid $500K's to low $600K's. Floorplan "Y" consists of 756 square feet with pricing beginning from the high $400K's to the mid $500K's. And Floorplan "X" will go in the high $500K's to the mid $600K's for the 893 square foot unit.

If you're interested in reserving a unit, the project is going directly to contract where you'll need 10% down with an additional 5% at start of construction, beginning in the first quarter of 2007, with completion and first move-ins occurring the first part of 2009. SoHo Lofts was a huge success as is the Newport Lofts project. There's no reason to think Stanhi will be any different. And at phase 1 pricing, Stanhi may be an excellent way to get into that downtown Las Vegas high rise lifestyle and perhaps make a buck or two in the process.

Friday, November 10, 2006

Sullivan Square Emerges as Southwest Las Vegas' Best High Rise Condo Opportunity

The "live-work-play" concept is alive and well at the Sullivan Square high rise condo project in Southwest Las Vegas. After touring the project and getting an in-depth presentation of exactly what the Sullivan Square vision is, I'm affectionately referring to this project as the "anti-strip" high rise condo opportunity - and a phenomenal high rise condo opportunity at that!

Sullivan Square - Click to Reserve a Unit

It's anti-strip because it's all about community. It's quite ordinary. The Sullivan Square neighborhood will contain pedestrian-friendly streets, with a central park reminiscent of the classic New York location, surrounded by a variety of housing alternatives, including high rise towers, terraces, live/work spaces, Chicago-style lofts, and brownstones designed to save open space, reduce car dependence, and tighten community ties. With no condo-hotel component, they're not looking for the transient buyer here. While the project is investor-friendly, this high rise condo project really appeals to the person looking to live in Las Vegas either on a permanent basis or as a second home destination. This project features all the amenities you expect from a high rise condo development, plus neighborhood conveniences including specialty markets, independent shops, cafes, and other personal services within walking distance of your front door.

With architecture influenced by early 1900's New York and Chicago building structures combined with modern-day technology, Sullivan Square is located in the heart of the Southwest valley at Durango and Sunset and is being developed by Glen, Smith & Glen Development. Besides winning the 2005 NAIOP Spotlight Award, GSG is no stranger to Las Vegas development with successful projects such as The Park at Warm Springs, The Park at Spanish Ridge (I and II) and the Park at Northpointe all under their belt. We all know how important it is to bring a successful developer to the table on Las Vegas high rises these days. What's even better is that the project has been 100% completely funded to the tune of $800 million dollars already by privately-owned Harcourt Developments based out of Dublin, Ireland who boasts a pretty impressive resume as well.

That's the two biggest obstacles of high rise development (lack of financing and lack of developer experience) already overcome with Sullivan Square. Being in on literally the ground floor of a project such as this makes Sullivan Square an excellent opportunity. The third obstacle becomes price, and this high rise project is so new, specific pricing isn't even available yet. But from what I've seen so far, it'll be in range with other quality projects in the current high rise marketplace (high $300s to over 1 million), but for so much more value than you'll see elsewhere. The project is currently taking reservations for one, two, and three bedrooms (plus penthouse levels) in their first 20-floor tower right now.

But perhaps the most unique aspect of Sullivan Square will be "Market Street", a 2-block row of shops and services aimed to provide residents with everything they'll need to live life in Las Vegas to the fullest, just steps away from your door. From delis, cafes, bakeries, butchers, etc., residents will have it all - and we're not talking about Starbucks-like companies. Sullivan Square is going out of its way to make these shops available to the mom and pop shops of the world... Like is was in the old country.

With a great location, great price-points, and a truly unique aspect of Las Vegas life, folks this is your chance to get into a solid project and take advantage of the Las Vegas high rise condo market even if you''ve thought you already "missed it". In general, all you need for a completely refundable reservation is $5,000 and groundbreaking is expected to begin in the first quarter 2007. I'm ranking this project as one of the "best bets" for 2007. Get in now and see for yourself. And if you own a small boutique shop that may work well on Sullivan Square's Market Street, this may be your opportunity for a whole new lifestyle...

Friday, October 27, 2006

Square Footage Price a Good Indicator of a Successful Las Vegas High Rise Condo Project

Jennifer Robinson's article in today's Las Vegas Review Journal couldn't have hit the nail on the head any better. In it, she discusses how real estate prices in Southern Nevada are bucking the national trend and how industry experts are even predicting a housing shortage come fall 2007. Logically, the article makes a whole lot of sense. Because Las Vegas is so unique and is such a desireable destination for so many people globally - a fact that will never change - it insulates itself from national trends.

While the article goes on to address a number of housing price statistics, I want you to take one thing from this article regarding Las Vegas high rise condos. Larry Murphy, president of SalesTraq, states the following:

"The starting price per square foot of the city's mid-rise and high-rise sector has jumped significantly, from $342 in the first quarter of 2004 to $596 in the third quarter...If you see a project with base prices under $500 (per square foot), that's a big red flag. At those prices, they won't get built."
That's not me saying that - (although I've been saying that for awhile). That's a respected Las Vegas industry expert who's president of perhaps the most accurate website on new project developments out there. No one should be shocked anymore at the square footage pricing of some of these high rises here in Las Vegas. The average square footage pricing of a high rise condo project should be a major clue as to whether the project will realistically work or not.

What does that mean? It means the high rise condo market in Las Vegas is not cheap and you need to be prepared to spend if you're interested in purchasing a high rise condo here. If you're looking to SAVE money, run for the hills - the Las Vegas high rise condo market is not for you. If you're looking to MAKE money, well, that's a whole different story.

Wednesday, October 25, 2006

Watch Your Las Vegas High Rise Condo Get Built

Webcam's have now invaded the real estate domain. DestinationWebcam.com is now using the technology to promote high rise developments and monitor construction progress by allowing visitors from around the world web-cam access on their browsers.

They've entered the Las Vegas market in association with the Juhl Las Vegas project so purchasers of Juhl units can now not only see construction progress on the project, but basically explore the entire neighboring downtown Las Vegas area in real time.

Check out the views, zoom in, do a 360 degree panorama, save photos, or email them to a friend. This is a really cool tool, so view the Juhl Webcam now. And remember how much we like the Juhl project - so contact me to reserve a unit as you watch it get built!

Tuesday, October 24, 2006

Residences Second Las Vegas High Rise Condo Tower Ready for Move-Ins

2 down, 1 to go. The first tower of the MGM Grand's Residences high rise condo project opened a few months ago. Now comes word that the second 40-story tower will be completed by the end of this month. The third and final tower will top off later this month as well, with a completion date for that tower estimated to be in the mid-2007 timeframe.

Inventory's scarce at the Residences (there's currently less than 100 units still available) and with good reason - they're the best project in town. With all the news of project cancellings, political haggling, legal battles, and delayed construction schedules, doesn't it make sense to get into something solid with no hassles where you can sleep at night knowing you made the right Las Vegas high rise condo purchase decision?

MGM's proven it over and over again. Their reputation speaks for itself and they've delivered the results they promised on their first two towers. Take my advice and get in on the third while you still have a chance. You'll thank me when you're drinking your cappaccino on your balcony as you read the newspaper stories about all the other high rise projects that have failed.

Monday, October 23, 2006

Centex Pulls Plug on Short-Lived Urban Village Las Vegas Condo Project

Don't let the sign in the picture fool you.

It looks like another mixed-use development in Las Vegas has seen better days. Urban Village, a 50-acre $1 billion dollar project proposed by Centex Destination Properties, has stopped sales and closed their sales office. The project had 75 reservations in at their first phase, out of 300 total units priced between $360,000 to $760,000. I bet I know 75 people who don't read this blog, because as mentioned time and time again, it doesn't matter what phase you get into with a project that won't get built - you're going to come out a loser if the project fundamentals and development backgrounds don't make sense.

This project never really got off the ground in the first place and certainly you'll see more projects cancelled in the near future. What's interesting is that news such as this isn't necessarily bad. In fact, as projects fall by the wayside and every other project in town fails except yours, then you're looking great since you'll own a successful asset in a market of high demand and low supply.

Urban Village put out a very nice press release explaining why the project was being discontinued. But the bottom line is people don't fall for time delays and publicity stunts that inject superficial interest in any project, such as when then-owner Philippe Pageau Goyette acquired the land and in April 2005, had led a mile-long convoy of construction trucks and equipment to the construction site to make it seem like construction was starting on the project, which was scheduled to begin in June, 2005. That may work in France, but after delays and delays - and as CSI reminds us every week: "we won't get fooled again". He then sold the land to Centex, who paid approximately $38 million for 15 acres and an option to buy the rest.

And speaking of being fooled again, Pageau Goyette is also the developer of Club Renaissance, which has also closed it's doors and has yet to begin construction after a similar groundbreaking event. He sold that land to Centex as well.

If only we all had a Centex in our life to bail us out of failed projects, and making us rich in the process!

Monday, October 16, 2006

Analysts are Talking about Las Vegas High Rise Condos

Photo by Clint Karlsen - Las Vegas Review Journal

When Steve Wynnn opened Wynn Las Vegas 17 months ago, the first new casino/resort in Las Vegas in almost 5 years, it spurred announcements from a variety of other potential strip projects, including high rise condos and hotels. So how's everyone doing? Read this article to find out. Here's a quick summary:

  • Project CityCenter - "A transformational project for Las Vegas."
  • Fontainebleau - "A quality developer with experience in this marketplace. Looking forward to seeing (former Mandalay Resort Group President) Glenn (Schaeffer) again."
  • Echelon Place - "Many investors underestimate the brilliance and execution capability of Boyd Gaming. Management talent will get the job done, and the city needs a midmarket project of this magnitude."
  • MAXIM - "Highly speculative as currently planned given the site configuration."
  • Cosmopolitan - "Executive turnover in previous months suggests there may be some difficulties, but the project is likely to move forward."
  • Olympia Gaming - "There needs to be a little more time for that part of the valley to comfortably absorb this supply."
  • Trump International - "This will be a success for both Trump and Las Vegas."
  • New Frontier - "The timing is uncertain. Will Trump enter the picture at some point?"
  • Palazzo - "Las Vegas Sands needs this additional room capacity. It's clearly moving as planned; sufficient capital and a great location."
  • Encore - "The Encore is an important second tower for Wynn Resorts that will enable the company to leverage its cost structure."
  • Palms Place - "A solid residential location."
  • W Hotel - "While we believe the W project is experiencing delays, we do believe that it will ultimately be built, unlike other notable projects."
  • Edge East - "A great location."
  • Harrah's Strip - "Harrah's (Entertainment) has the ability to successfully integrate its Strip properties and it will represent a powerful alternative for consumers."

Never heard of some of these? Keeping reading this blog. As long as they're good, you will....

Monday, October 09, 2006

Loan Officers Looking Closely at Quality in Funding Las Vegas High Rise Condo Projects

Yesterday's article in the Las Vegas Review Journal talked about how the failures of the Las Vegas high rise condo market is causing lenders to grow cautious and how financing high rise condo projects isn't as easy as it once was. Well... maybe for the Club Renaissance projects of the world. But quality projects such as Sky, One, Streamline, Juhl, Turnberry, and the Residences to name a few all seem to be doing fine.

Everyone always talks about how there are 100 or so projects in the works and that the market can't absorb all those units and how not all of them will be built. Yada.. yada.. yada... We all know that. The simple truth is that it doesn't take a rocket scientist to go to the planning board and get approval for a high rise project. Most times, I think you just have to be breathing! But getting the project financed, sold, and completed is certainly a different story. And in this town, at this time, you MUST go with quality or you'll find yourself in Ivana land - which is not the place you want to be.

Here's an interesting (and insightful) quote taken from Manhattan Las Vegas developer Alex Edelstein:

"People who generalize about the Las Vegas market and see a glut of condos are not getting a good picture of what's going on... it's a bit misleading. Of the 3,087 units for sale, nearly 70 percent are priced under $250,000, which probably means they're apartment conversions. Another 16 percent are priced above $500,000, suggesting they're high-rise luxury units... That leaves only 460 condos in the entire valley in the sweet spot between $250,000 and $500,000"
Are you in that sweet spot yet? Because as Calmerica loan officer Bob Charles says,

"My thinking is that it will take slightly longer to sell out the projects that actually make it to completion, but I doubt there will be any losers in the bunch that does finish."


Thursday, October 05, 2006

Lawsuits Begin Against Spanish View Tower High Rise Condo Project

The lack of construction progress over at the Spanish View Tower project is starting to hit home hard as a unit holder has filed a lawsuit against the development demanding their money back and alleging that Spanish View has missed significant construction deadlines. The project broke ground on its 215 and Buffalo location quite some time ago, but by all indications, construction has come to a grinding halt, causing unit holders to wonder what's to become of their significant downpayments.

Stories like this are what's giving the Las Vegas high rise condo market a black eye. Spanish View claims no construction deadlines have been missed yet and the project will be ready by August 2007. I wonder what odds they're getting at the casino sportsbooks on that one!

I'll bet Turnberry and MGM are completing their projects on time. Once again... the success of your high rise condo project will be a direct correllation to the strength of the developer. Just because Spanish View has problems, trust me in that they won't take every project down with them. There are still MANY good buys in this town for those who do their developer homework.

Monday, October 02, 2006

East Tower at Turnberry High Rise Condo to Open This Spring

After the recent top-off of the East tower's 45th floor at the Las Vegas Turnberry Towers high rise condo project, Turnberry officials announced the project will be ready for move-ins come spring.

The project's west tower should be ready about a year after that. When completed, the 10-acre, 2 45-story high rise tower project will feature 636 one to three bedroom residences, designed to appeal to both primary and second-home purchasers.

If you were lucky enough (and smart enough) to buy into this project, you'll soon be reaping the rewards of your purchase as we've mentioned time and time again how Turnberry has set the standard for high rise living here in Vegas.

In addition to unit ownership, all buyers receive a 2-year membership into the Stirling Club, Turnberry's exclusive 80,000 square foot private club, featuring casual and fine dining, a 30,000 square foot European anti-aging spa, a fitness center with a virtual reality system, a Pilates studio, beauty salon, jacuzzis, saunas, and steam baths, and an indoor lap pool. But that's not all: the Stirling Club also offers members a nightclub lounge with live jazz music, piano lounge, cigar room, clay tennis courts and an outdoor mosaic pool. I've been to the Stirling Club - and trust me when I tell you this club rivals anything the finest Strip resorts offer their top-notch clients that come into town.

So the question becomes: Why aren't YOU one of the people ready to move in next year? Perhaps a tour of a 1,658 square foot fully furnished model suite would help? Let me know...

Friday, September 29, 2006

Ideas Fly at the Downtown Las Vegas High Rise Condo Panel Discussion

Last night, I was invited to participate in a panel discussion held at the Desert Passage in the Aladdin regarding downtown Las Vegas high rise condo developments and how the market is progressing in general.

Many interesting ideas and suggestions where presented by the 15 or so participants including ways high rise developers can better interact with real estate agents, what needs to be done to market downtown Las Vegas better, and what are buyer's pre-conceptions of the Las Vegas market. Some excellent points were made and my overall conclusion is that downtown Las Vegas offers investors and owner-occupants tremendous opportunity in the future. As the urbanization of downtown continues and it gradually gets cleaned up and revitalized, those purchasing quality properties should be rewarded in the upcoming years.

The World Market Center already has been a tremendous success and has given a great boost to the downtown projects. Soho Lofts has started move-ins and construction on their sister property - Newport Lofts - is moving forward without a hitch. Juhl has broken ground and the construction you see at the Streamline Tower is extremely promising.

The fact that a downtown project would take the time and financial outlay to commission a panel discussion of this sort tells you that successful developers care about the input of the real estate community and its buyers.

As mentioned in an article in the New York Times, downtown Las Vegas is stepping up to the table. For the everyday, small investor, downtown Las Vegas may be the place to be. I would suggest very strongly looking into the Streamline Las Vegas condo project.

Thursday, September 28, 2006

Instant Equity - 1 Day Left

A number of you have already contacted me regarding my previous post of instant equity in a major Las Vegas high rise condo project. Here's a quick reminder that if you haven't contacted me, you only have 1 day left to take advantage of this offer - and this offer really will expire on Friday. It's not like the offers you see all the time that always seem to be available (you know what I mean).

The clock's ticking. At the close of business Friday, 9/28/06, this deal will be GONE, so I urge you email me with your phone number quickly if you're in the market for a Las Vegas high rise condo.

Wednesday, September 27, 2006

Manhattan Las Vegas Condos Announces Open House Celebration

You have to hand it to the people over at the Manhattan Condo project. They promised a concept three years ago and delivered, and as such, are holding an open house celebration this Saturday, September 30th from 3-7:00pm at their South Las Vegas Boulevard and Serene location.

Live music, food, and drinks are all on the agenda, including tours of condo units that you can move into right now. Buying high rise condos in Las Vegas is a catch-22 - it's hard to buy something you can't see (preconstruction), but when you see it (and it's ready for move-ins), you usually wish you had bought in on a beginning phase.

While Manhattan Las Vegas isn't really a high rise project, they are now advertising prices starting in the low $300,000s, which if my memory serves me, isn't that much more than what they originally sold for in the first place... which is good news for you if you attend their open house and like what you see. I'm going - let me know if you'd like me to put you on the guest list.

Monday, September 25, 2006

Instant Equity in a Las Vegas High Rise Condo

Folks, I just got a heads up on just a handful of condo availabilities that will provide the buyer with substantial "instant equity" at the prices that they are being offered at. I'm not at liberty to disclose which project, but I will tell you it's a solid one - and the offer will expire THIS Friday, September 29th.

Sometimes, it actually pays to wait. So if you've sat on the sidelines until now, NOW'S the time to act on this - it's that good! Email me with your phone number and I'll contact you for details. But please, this deal's for real, so be ready to act if you like what you hear.

Saturday, September 23, 2006

Free SEO Advice to Las Vegas High Rise Condo Website Developers

To continue a previous rant of mine, web development is a strong weapon in my marketing arsenal. That's why it kills me when I see all these high rise condo developers spending tons of money on websites that may look great, but really don't help sell the product. Just about every one of them are search-engine friendly nightmares.

There are two types of search engine results - the ones you get for free (organic placement) and the ones you have to pay for (pay per click advertising). And my guess is high rise developers are foolishly paying aplenty for their search engine results.

Website promotion starts with good design, simple navigation, great content and keyword relevance, all of which play a major role in how search engines index websites. Search engines send out "bots" that crawl sites for content and relevance. They are extremely impatient and don't care about dropdown navigation, or flash movies, or cool graphics. They want details, and if they see garbage code, guess what the search engine will think of the site?

The use of the right keywords in right places in the right context with the correct number of times will do wonders in optimizing your site for these bots. That's what Search Engine Optimization (SEO) is all about.

Remember that no matter how nice your site looks to the human eye - and there are many high rise condo sites that really look great! - search engines just don't appreciate art, really don't care about messages written on graphics and totally overlook flash introductions as if they're not even there. Search engine scripts look for the links on the site, then follows each one in the order they were detected on the HTML code.

So regarding page content, you need to get the point quickly and make sure it's worth getting to in the first place. Search engines regard words that are used most often on your site as the most important. The challenge is to develop text that both the human user and the search engine robot want to see at the same time. Content must be distributed effectively, using every sentence as a keyword phrase that you want the search engine to index you for. I have yet to see a high rise developer's website here in Las Vegas that does that correctly.

Choosing the proper keywords throughout your website is the most important component of high search engine results. Find the proper keywords by preparing a list of all possible words, match their popularity against the competition, then implement the results. Once that's implemented, all you need to do is wait for the "bot" to return and you'll see amazing organic results from search engine queries.

Friday, September 15, 2006

Don't Forget Our Preconstruction Condos and Investments Blog

As mentioned the other day, high rise investing isn't for everyone. But that doesn't mean you can't take advantage of the pre-construction pie.

Investment Real Estate can take many shapes and sizes. We continue to see a huge demand for investment real estate at wholesale prices within reasonable price points and have another terrific investment real estate opportunity for your review at our preconstruction condos and investments blog. Check it out and contact me with any comments or questions you may have.

Wednesday, September 13, 2006

High Rise Condo Real Estate Investing in 5 Simple Steps

Everyone's always talking about investing in real estate, and investing in high rise condos in particular. However, investment real estate can mean a whole number of things to each individual investor. That's why it's so important to understand the "ins and outs" of high rise condo investments. Here's how to do it in 5 simple steps:

1) What is investment real estate to you?
People invest and buy high rises with a certain expectation of return, the "return on investment" or ROI. Your ROI better be worth the time, effort, and risk and it better be a positive number somehow. Are you playing the appreciation angle (a speculator) or are you interested in cash-flow? (an investor). Determine the capital that will be tied up in your property and compare it to the profit you think you'll make. Are you comfortable with the risk?

2) Figure out how much you can spend
For this one, remember you have avenues available to you that you probably haven't even considered. Perhaps you already own an investment property that's not providing an ROI that you're looking for, but you're afraid of selling due to capital gains taxes. Did you know the IRS' Section 1031 allows you to sell real estate that has appreciated in value with the ability to roll it all over into a "like-kind" property without paying any capital gains taxes? Also, did you know you can use money in your IRA to fund the purchase of real estate?

Your purchasing power is determined by your ability to borrow or leverage cash. If you qualify for debt service on a $500,000 high rise condo and only have $50K in the property, then your money is working exponentially and your ROI will be higher than if you paid cash for the entire purchase price.

3. What's your exit strategy?
No one can tell you exactly how well or poorly a high rise condo investment will perform in Las Vegas. Have you ever heard the term, "historically speaking"? Well, here in Las Vegas, the high rise condo market is so new, there is no "historic" benchmark. Instead, begin with the end in mind. Define your high rise condo goal. Will you flip, or will you cash-flow it out? What kind of ROI are you hoping for? And when it comes time to sell, how you will you get that done? Remember, in the Las Vegas market, you almost certainly will have to close on your deal. Some projects restrict you from selling for periods up to a year. You better be prepared to make monthly payments on your unit or face dire consequences.

4. Keep your eyes and ears open to the market
Will the high rise market allow you to cash flow out your property on a consistent monthly basis. The best answer is: "it depends". The equity you have in your property along with your expenses such as HOA dues, property taxes, maintenances, and of course debt service will go a long way into answering that question. What kind of rental program is associated with the property? Will you rent it out yourself, and if so, what's the ROI on YOUR time? Ownership has it's costs (and its profits too!) Determine the cost of carrying your condo. With a long term vision of ownership, if we assume a negative cash flow, you may be comfortable with that due to the appreciation value of the property over time. Or you may not be. Either way, you need to feel comfortable that you're at least riding an appreciating marketplace - along with a quality project as well.

5. Take some form of action, whatever it may be.
Gather all the information from steps 1-4 and take action in one direction or another. With all the information at your fingertips, the tempation is to sit on the sidelines until you learn all there is about a certain topic, which is impossible. Don't fall into the "analysis paralysis" trap. Perhaps after looking at the fundamentals, the property type, the market trend, and the area data, you determine that high rise investing isn't for you. That's okay, but get going on some other real estate investment that DOES match your criteria and take action.

Will a high rise condo property cash flow? The answer is there is no guarantee. Will a high rise condo property appreciate? The answer still is there is no guarantee. But if you make an informed and educated decision based on the fundamentals, you'll sleep better with your purchasing decision. And you'll always have a friend in the real estate world on this blog.

Pinnacle Las Vegas High Rise Condo Resort Registration Link Back Online

The link to register for the Pinnacle high rise condo resort project is back online and working again. A number of you contacted me regarding the "page cannot be found" error message that was displayed whenever you clicked on the link or the graphic, and after relaying the problem to the Pinnacle's web team, they have fixed the issue.

So what happens when you click on
the link or the graphic to register for this project? Well, for starters, you are under no obligation to do anything and your contact information is kept strictly confidential. By registering, the good people at the Pinnacle will simply send you out their Media Kit, containing a full-color brochure and an interactive DVD which shows off the project very nicely.

Then after a week or so, you'll get either a follow-up email or a phone call to see if you received the package and if you had any questions or comments. And that's it. No one hounds you... no one will try to "sell" you... it's all completely non-pressure.

So register, get the package, and perhaps the project may sell itself!

Thursday, September 07, 2006

Red Rock Residences High Rise Condo Project Cancelled

Last month, we wrote that Station Casinos pulled out of a partnership to build high rise condo towers at its Red Rock Resort. Today word is out that they've announced the Red Rock Residences project has been officially canceled altogether.

I suppose canceling the project is a much more attractive alternative than the nasty, expensive lawsuit they were facing for backing out of the partnership in the first place.

This project was only in the "interest list" stage, so there weren't any unit buyers that got burned. But Station Casino's chief development officer, Scott Nielson, says he wouldn't count this project out in the future. I would. With all the money they make on their gaming properties, perhaps the land is best used as - oh, I don't know... a casino?

Tuesday, September 05, 2006

Buy a Central Las Vegas High Rise Condo with a Deposit Bond

The Las Vegas Central high rise condo project is making it easier for you than ever to purchase a unit in their development. Though an affiliation with Australian based Deposit Access, you now have the opportunity to use a QBE Deposit Bond as a guarantee which will actually substitute for the 10% cash deposit you are required to pay up-front when purchasing a property. With terms ranging up to 48 months, you can now keep your money working for you right until the closing date.

That's right - there's no need for you to withdraw cash from savings or other investments for your high rise condo initial deposits. And the best part is that in addition to being cheaper than obtaining financing terms, the process of applying for a Deposit Bond is quick and simple. Just download an application from their website and Deposit Access will assess your application based on your current net asset (equity) position and your ability to meet your current financial commitments as well as the new purchase. You can even apply online.

Deposit Access has been issuing property Deposit Bonds since 1998 and costs vary, depending on the amount and the terms of the Deposit Bond. The developers of the Central have been in contact with Deposit Access about making this an official program in their offering, so when that happens, they'll be able to hold your hand through the entire process. Attend a priority preview and inquire about the status of this program.

When news gets out about this program, I'm sure the other high rise projects in town will follow suit. But for now, the Las Vegas Central continues to lead the Las Vegas high rise condo league in innovative programs.

Friday, September 01, 2006

Real Estate Agents & Developers: Set yourself apart from the Rest with your very own Private Label Coffee

My favorite coffee company, Andiamo Coffee, offers private label programs that truly will make your clients and prospects take notice. Unlike pens, refridgerator magnets, and other useless items just about everyone throws out, your picture, logo or message can be on display every morning when one goes to the kitchen for their daily dose of java. And how great would it be to not only offer prospective condo buyers a cup of coffee when they walk into your showroom, but also to offer a great tasting coffee they can ONLY get from YOU!

I'm always amazed at the lack of thought people put into their coffee. It's something everyone drinks and it's also become a classy symbol of an upscale lifestyle. Yet high rise developers - who are targeting the upscale clientele with $1000 per square foot pricing - seem to only offer a regular coffeemaker in their kitchen layout offerings, to say nothing of the lack of their own private label coffee in their own perfectly decorated sales centers.

Agents, brokers, and developers alike... you need to come up with original and effective means of separating yourself apart from the rest. Using Andiamo Coffee's private labeling program is a step in the right direction. And it only takes 5 minutes! Visit their website or contact Paul for more information.

Thursday, August 31, 2006

Pinnacle Las Vegas High Rise Condo Project Announces Groundbreaking Timeframe "Unofficially"

It's unofficial, because you had to attend their private realtor luncheon at the Capital Grille in the Fashion Show mall to find out, but if you're not doing anything... say October 17th or so... you may notice a groundbreaking ceremony taking place on the Pinnacle Las Vegas' 12-acre property the developer's already own free and clear!

The luncheon provided some really interesting information - including the planned 5% price increase in mid-September. Whether it be for personal use or for a "condo-resort" application for investors, this project's shaping up to be a major winner from just about every perspective.

The Falcon Group's development team is unsurpassed and includes the likes of Youngblood Wucherer Sparer Architects, Marnell Corrao Associates, Attanasio Landscape Architecture, CLEO Design, and Interstate Hotels & Resorts. Visit those websites - we are talking about a very solid development team here.

If you want to feel safe making a Las Vegas high rise condo purchase, I'm convinced you won't do much better than the Pinnacle. Their sales team will be doing priority presentations, so register now before the price increase or contact me if you have any questions.

Thursday, August 24, 2006

Station Casinos Pulls Out of Red Rock Residences High Rise Condo Partnership

The Residences at Red Rock
For those of you that don't live in the Las Vegas area, Station Casinos practically corners the "locals" market in this town. They've recently opened the Red Rock Resort, and planned to join forces with timeshare developer Stephen Cloobeck and condo builder Steven Molasky to build two high rise condo towers at their Red Rock property.

However, Stations has dissolved the partnership but still plans on moving forward with The Residences at Red Rock on its own, which calls for 600 condo units with a completion date sometime by early 2008. The initial agreement had Stations owning 80% of the joint venture.

Could a lawsuit by the Cloobeck Molasky Group be far behind?

Right now, Stations isn't taking reservations and pricing hasn't been determined yet, but if you'd like to stay up-to-date on the status of this upcoming project, send me your contact information and I'll put you on the interest list for this property. The artist's rendering of the project looks great and if it's going to be anything like the Red Rock Resort, you'll definitely want to check this one out.

Wednesday, August 23, 2006

Club Renaissance Downtown Las Vegas High Rise Condo Project All But Dead

What does it mean when an answering machine constantly picks up during business hours at a high rise condo project in Las Vegas? And what can one conclude when one drives by the sales office only to find it continually closed?

Well, it doesn't look good for the Club Renaissance downtown high rise condo project. All that's missing is the official notice in the Las Vegas Review Journal that the project's been cancelled. It looks like they're still taking reservations at their website, but I'm pretty sure at this point that's all for naught. Don't waste your time.

Originally intended as a "locals" project, pricing came out very "un-local" friendly. That, and the lack of groundbreaking progress, was the first clue that this project was in danger. But fear not: Club Renaissance is far from your only downtown high rise choice. And most definitely, there are downtown projects that are bargains TODAY!

As mentioned previously many times, Juhl Las Vegas is a winner. So is the Streamline Tower. And both Soho Lofts and Newport lofts have been complete successes to date as well.

If you had a reservation at Club Rennaissance, I would suggest you seriously look into Streamline at this point. They've got a very similar project - and it's actually moving forward construction-wise with move-ins anticipated for December '07.

Tuesday, August 22, 2006

Info on the Menu at the Pinnacle Las Vegas High Rise Power Lunch

The Pinnacle Las Vegas high rise condo project will be holding "Power Lunches" for real estate agents from August 21st through September 1st at the Capital Grille in the Fashion Show Mall in Las Vegas.

This is a perfect opportunity to interact with the project developer and key members of the Pinnacle's development team. So if there's anything about this project you want to know, contact me with your toughest questions, and I'll make sure you get answers.

In this highly competitive high rise market in Las Vegas, it still amazes me that not all high rise projects stage events such as this to better inform local agents, who after all, are a big factor in the success of a high rise project.

Monday, August 21, 2006

My Favorite Las Vegas High Rise Condo Headline

The Sunday, July 23rd, 2006 Real Estate promotional section of the Las Vegas Review Journal has one of the most amazing headlines I've read in a long time:

"Survey shows real estate pros optimistic about market"

Really? Real estate agents where surveyed and they all were optimistic about the market. That's amazing. What's next? - "McDonalds Says Hamburgers Provide Daily Energy" or "Starbucks Employees Surveyed Claim Drinking Coffee Prevents Disease".

Surveys can basically manipulate data to reach any conclusion the author has in mind. When you really break it down, to say a survey of real estate agents means anything regarding real estate is ridiculous as bias almost certainly affects their responses. What real estate agent is going to tell you not to buy real estate?There's only one industry I can think of that markets the message not to buy their product and that's tobacco. All the cigarette companies must remind you that smoking is hazardous to your health. But real estate agents?... earning a living selling real estate is hard enough - they're probably not going to admit to making it any harder.

And who are these people that respond to surveys anyway? I've been around for awhile, and know a lot of people who have been around for awhile, yet none of us have ever responded to surveys. Most of us are too busy working. I put almost zero credibility in survey results. I prefer to look at what's happening in the real world.

The real world Las Vegas high rise condo marketplace couldn't be any clearer: the established and experienced developers are continuing to develop quality projects at the expense of the inexperienced ones who are dropping by the wayside.

It does't take a survey to figure that one out.

Monday, August 14, 2006

MGM Announces CityCenter Realty to Sell Their Newest Las Vegas High Rise Condo Development

It was just a matter of time, but Las Vegas-based MGM Mirage just formed a condo sales company called "CityCenter Realty" to oversee sales of their 2,800 luxury condominiums at its Project CityCenter development.

Previously the CEO of Coldwell Banker Premier Realty, Bob Hamrick now becomes the corporation's new senior vice president with Grant Murray serving as vice president of sales. Murray was the former sales director for Concord Pacific Place in Vancouver. Rounding out the newly announced team is Anna Houssels, who will serve as the director of sales.

The 76-acre 18 million-square-foot, hotel, residential, and entertainment undertaking - with a reported pricetag of $7 billion - officially broke ground on June 26.

Chicago-based Murphy/Jahn Architects is designing two leaning glass towers, combining for 810 units; Rafael Vinoly Architects of New York is doing a 50-story ebony tower with 1,543 units; New York-based Kohn Pederson Fox Architects' Mandarin Oriental Hotel and Residences will have 215 units; and The Light Group's tower will make up the remaining units.

While the sales center will open in January 2007, Project CityCenter is tentatively scheduled to finish by November 2009. It'll be here in no time. If you're not currently on the interest list for this project, definitely e-mail me with your contact information and I'll make sure you get first crack at reservations once they become available.

Friday, August 11, 2006

Savor the High Rise Condo Lifestyle at One Las Vegas

I just received an email newsletter from the folks over at the One Las Vegas high rise condo project which contained photos showing construction going full steam ahead with Tower 1 hitting Level 4 already. With delivery of the first 2 towers expected in the fall of 2007, this 19.5 acre development project continues to look like a winner.

One is being built with a partnership between Las Vegas based developer AmLand Development and global developers The B.S.R. Group. With 100% construction funding from Corus Bank in Chicago, plus strong pre-sales and attractive pre-construction pricing, the whole team at One continues to change the South Strip skyline with their combined experience, capital, and creative vision.
If you want to get the most "bang for your buck", consider a South Strip condo. And if you're looking high rise and a relatively quick move in date, One's the one for you.

Tuesday, August 08, 2006

Construction Progress on Allure Las Vegas Puts High Rise Condo Project in Good Shape

Allure Las Vegas Having recently toured the Allure Las Vegas high rise condo project currently being developed on Sahara Avenue, just west of Las Vegas Boulevard, it's become quite clear that Allure unit-holders have a lot to look forward to. Substantial progress has been made on the construction of this project.

The two 40-story towers are being developed by Chicago-based Fifield Cos. and the 400-unit first tower is currently 90% sold out. I had an interesting call from a client who wanted to purchase a high rise unit, but didn't want to wait until 2008 to move in, which immediately drew my attention to the Allure project, where move-ins are expected towards the end of 2007.

Believe it or not, most of what's available for purchase is upper units. It's hard for people to spend upwards of $1M on something they can't see or feel, but when walking tours are ready, the views from this building will sell themselves. Originally priced from the $300K's, Allure's units feature high ceilings, granite counters, Italian cabinets, marble flooring, and stainless steel appliances.

If you're looking to purchase a Las Vegas high rise condo and looking to move in relatively soon, Alure's got some awesome units. My favorite availability is a 1,532 square foot, 2 bedroom/ 2 bath corner unit on the 26th floor, featuring TWO 148 square foot balconies for $780,000. That's only $509 per square foot!! I call that value. Try to find that anywhere else in town size-wise, floor height-wise, and for the view it buys.

First come , first serve... Who wants it?

Saturday, August 05, 2006

Construction Progress at Juhl Las Vegas Condos

As we mentioned previously, the Juhl Las Vegas condo project in downtown Las Vegas has broken ground and construction continues to move along nicely. Here's the latest photo as of 8/3/06:

There's still time to take advantage of the continuing success of the World Market Center by purchasing a unit in Juhl. And for those who have already purchased, sit back and enjoy - you made a smart move!

Friday, August 04, 2006

The Best Way to Invest in Preconstruction High Rise Condos

There's strength in numbers. And when an organization steps up to a developer offering to buy 30% or more of his project's units, the developer listens.

For the past few months, I've been doing research on condo buyer syndicates and I've finally found such an organization with a documented track record of success investing in high rise condo projects nationwide. By leveraging relationships and using volume purchasing, this group offers its Joint Venture Partners pre-construction contracts with favorable terms typically not available to the general public. Most times, you won't even have to close.

By constantly researching markets and opportunities and providing high rise condo investors with excellent returns with very little risk, they provide the perfect solution to the high rise condo investor who maybe may have cold feet about taking the high rise buying plunge on their own. And because you're only presented with best case buying opportunities, you're not subjected to biased sales presentations by the individual developer's marketing teams or sales agents.

In short, this group has developed a resource where the condo developer and condo buyers can partner together to create a win-win situation - regardless of market conditions! Hands down, there's no better way to invest in high rise condos.

Your profit is built in. There's very little risk. And, you never have to actually close on a unit! If you're considering investing in the high rise condo market, whether in Las Vegas or elsewhere, I urge you to fill out this form for more information on how you can joint venture with this group and achieve the profitable results you probably would not attain on your own.

Thursday, August 03, 2006

The MGM Grand Residences Las Vegas High Rise Condo Hotel Project is Going... Going... almost Gone

Their unit availabilites, that is. Time is running out for you to purchase one of the few remaining units in perhaps the best project not just on the Las Vegas strip, but in the entire town.

Tower A is sold out, staffed, and ready for occupancy. Tower B is sold out and under construction. Tower C is 80% sold out and under construction. Hands down, no other project in town boasts this kind of progress and productivity.

The Residences at MGM Grand offers a home away from home for those desiring a turnkey lifestyle with luxury amenities. Prices from $650,000, the Residences come fully furnished with amenities including a 24 hour front desk and concierge service, in-suite dining, guarded security entrance, fitness center, swimming pool complex and lounge, and best of all, access to all of the MGM Grand's world-class amenities in the hotel.

With so many "what-if"s high rise condo hotel projects in this town, you can't go wrong with this one. Contact me today and I'll arrange a tour for you to see how amazing this project really is for yourself.

Wednesday, August 02, 2006

The Oldest Trick in the Las Vegas High Rise Condo Book

The high rise market as a whole loses credibility when one of their projects fails, runs into trouble, or gets bad press. One of the best indicators of a project's overall feasibility is whether or not they have broken ground and started construction. When that happens, the project pretty much goes from "uncertain" to "solid" status.

Developers know that, so what happens sometimes is they start construction with their own money, but just don't do too much other than an official groundbreaking. This way, they can get more buyers interested in their projects so they can then approach lending institutions with a higher percentage of "pre-sales" which increases their changes of obtaining the desired financing.

If you need 50% presales before a bank will lend, and you only have 40%, a developer may take the chance of starting construction while hoping to get the other 10% right away. Sometimes that strategy backfires, in which case lawsuits are filed and liens get attached to the project by angry contractors who don't get paid for the work they have performed.

It's the oldest trick in the high rise condo book and one that seems to have caught up with the Spanish View Towers project and teaches buyers a valuable lesson. One of the more important things a buyer should look for in their purchase contract is the delivery date promised by the developer and a timeframe where the buyer would be entitled to get their money back should that delivery date not be met - or delivered not as planned.

While buyers probably can't successfully sue to force a project to be completed, understanding what will happen based on project delays will definitely save you time and money should an unfortunate situation develop.

Tuesday, August 01, 2006

The South Strip is Hot for Las Vegas High Rise Condo Development

MGM Grand is arguably the most successful and influential high rise development company in Las Vegas. With the continued success of their MGM Grand Residences high rise condo hotel development and with all the positive press regarding their $7 billion dollar Project CityCenter, you'd have to agree they're the experts in the Las Vegas market. So when you hear they're interested in developing 2 luxury high rise towers and 2,500 condos on the South Strip, investors better take notice.

While MGM officially hasn't annouced either proposal, the Clark County Planning Commission is expected to approve their plans for both "The Place at Mandalay" (a 520 foot tower containing 1,344 high rise units just steps away from the Luxor's pyramid) and plans for two additional high rise towers behind the MGM Grand's present location. The new towers would add 1,152 condos to the 1,700 high rise condo hotel units currently under construction at The Residences.

Add to that the 1,650 condos planned for Project CityCenter and it's obvious MGM Grand's betting big on the South Strip condo development market. With the 831 acres of Strip property they own, they're making a pretty loud statement, and that statement is this: the high rise marketplace in Las Vegas is still in it's infancy. Investors heeding that advice will make out quite nicely in the future.

While the Las Vegas market for single-family homes has definitely slowed up, county planners obviously see no indications that the demand for luxury condos on Las Vegas Boulevard is waning. If it's good enough for MGM, it's good enough for all of us.

Register For The Central Las Vegas High Rise Condo Priority Preview

Here's a quick video describing what you can expect when you register for the Las Vegas Central high rise condo project's "Priority Preview" presentation.

If you're in the market for a Las Vegas high rise, The Central project is a must view, if for nothing else than comparison purposes with other projects. The knowledge you'll receive at this event will certainly help your high rise decision making. Register now to attend and get a glimpse of Las Vegas' newest "City Within a City"

Monday, July 31, 2006

Success of World Market Center is Good News for Downtown Las Vegas High Rise Condo Projects

The World Market Center continues to grow and grow, as its developers keep moving forward with an accelerated construction schedule for the entire 57 acre campus. When it's fully completed, it will become the largest trade show complex in the world.

Last week, officials of the project gave a tour of the top floor of the fully leased second building - a 16-story, $345 milion, 1.6 million square foot centerpiece opening in January with rave results. The scope of this project is amazing. They're creating a comprehensive marketplace that provides all the tools necesssary to grow an enterprise by bringing products, people, ideas, and access together in one place. And it's already working - the success of this project has been better than anyone could have imagined so far.

Plans call for the completed development to cost $3 billion and feature eight buildings totaling 12 million square feet that will be connected by sky bridges, designed to become Downtown Las Vegas landmarks.

As mentioned in February, the continuing success of this project is making ownership of high rise condos in the area a no-brainer. At this point, is there even a doubt that the Juhl Las Vegas project is the biggest sleeper project in town? Located walking distance to the World Market Center with a pricing structure that looks like a steal compared to its competitors, you'd be crazy to pass up a buying opportunity whether you're an investor or end-user in this project, which recently broke ground as well.

Amid the downtown Las Vegas cultural venues, spectacular shopping, gourmet restaurants, and now the most successful trade show project in the world, the news is all good for Juhl. Piggyback from the downtown rennaissance and the success of the World Market Center and get into Juhl now. I already did - you should too while availabilities last.

Sunday, July 30, 2006

Vegas 888 Las Vegas High Rise Condo Project Cancelled

Vegas 888, a Las Vegas high rise condo project of Florida-based Del American has stopped sales for its 542 unit project on 10 acres at Flamingo Road and Valley View Boulevard. With sales not strong enough to sustain their initial marketing efforts, Vegas 888 developers decided to pull the plug on the project since beginning their selling effort on May 4th, 2006.

What's amazing about this project is they actually had contracts to sell 38 of their units to begin with. The project was priced at over $1,000 per square foot with units selling for $750,000 to $10 million each. That's quite expensive for being off the Strip and not located in Queensridge, where at least I can see that kind of pricing work.

While the neighboring Pinnacle's tag line is "Las Vegas is so ready for this", it's obvious that Las Vegas is no where near ready for Vegas 888. Like the Ivana Las Vegas fiasco, this project was doomed from the start. More people should be reading Las Vegas high rise condo blogs.

If you're one of the unlucky people who had reservations at Vegas 888, my advice is take the money you get back from your deposit (plus the interest earned in escrow), then take a quarter of that, and get into the Pinnacle Las Vegas high rise condo resort project instead. Better price... better design... better amenities... better developer... all for so much less!

Isn't that what people say, when life hands you lemons, make lemonade?

Saturday, July 29, 2006

Spanish View Towers Las Vegas High Rise Condos May Not Be Cancelled Afterall

Construction on the Spanish View Towers high rise condo project in Las Vegas halted abruptly on July 7th after international investors failed to perform, causing contractors and suppliers to file liens faster than Mel Gibson drives. However, Rod Yanke, the developer of the project located at I-215 and Buffalo Drive, said alternative financing has been obtained and once the liens are released, the project will resume. He cited a "major bank" has been lined up, but wouldn't announce the name.

I'm still skeptical, but with 70 percent of the project's first 18-story tower sold, odds are good that he may be right. Even with the delay, the first tower is scheduled to be finished next summer with 2 other 18-story towers in the works. We shall see.

Friday, July 28, 2006

The Beach Nightclub May Soon Become a Las Vegas High Rise Condo Tower

The Beach nightclub, located on Paradise Road directly across from the Las Vegas Convention Center, would be razed in favor of a 600-room high rise tower and casino under a development plan that recently won initial approval from county officials.

The 1.25 acre parcel, the night time site of countless police arrests, drug use, and public lewd behavior, may soon house an upscale 20,000 square foot casino and an 18,000 square foot restaurant and lounge area within the proposed 39 story building.

No information has been released regarding a project name or details as to when, and if, this project actually gets started - but if I had my way, I'd say the sooner the better.

Tuesday, July 25, 2006

Evolution Lofts Open Sales Office for their Las Vegas High Rise Condo Development

Last week, I wrote about the newly announced Evolution Lofts. Today's article in the Las Vegas Review Journal expands upon that information.

If a Downtown high rise Las Vegas loft lifestyle appeals to you, it can't hurt to look into this project further.

Sunday, July 23, 2006

Announcing a New Las Vegas Residential Real Estate Resource: LVHomesAndCondos.com

Frank and Cameron DeAngelo, two of the best real estate agents I know in town, have recently published their website called www.LVHomesAndCondos.com. I think it's a great site - but I'm biased, since I created it and I'm their "condo guy". If you're looking to buy or sell a luxury home or condo in Las Vegas, relocate to Las Vegas, or just interested in some solid Las Vegas real estate info, definitely contact them - you'll be amazed at the unsurpassed service they provide to every one of their clients. I know - I work with them.

Check out their featured listings... and whether you're a buyer or seller, go to their condo page, fill out the form and we'll find you that perfect condo of your dreams - be it investment or owner-occupied.

Thursday, July 20, 2006

The News is All Good for the Pinnacle Las Vegas High Rise Condo Project

The PinnacleThe Pinnacle, a Las Vegas high rise condo development consisting of two 36-story towers and 1,104 condo residences, has received all their necessary entitlements including HUD approval and are now going to contract with purchasers of their high rise units.

Having secured $45 million in project financing from Berkshire Financial Capital, plus the fact that the land that the project sits on was already owned free and clear by the developer, the Pinnacle is poised quite nicely over its competing Las Vegas high rise projects. They also have opened their new sales gallery directly across from the actual building site, across from The Orleans at the southeast corner of Tropicana Avenue and Cameron Street.

This unique project features nine floor plans for studios, one-, two- and three bedroom units ranging in size from 641 to 2,300 square feet priced starting from the $350,000's. Townhouses, penthouses and of course their signature "Sky Bridge Suites" are also available, priced between $650,000 and $10 million.

The property will feature a hibiscus-shaped pool, a "dive-in" theater and portable hand-held concierge devices, which residents will be able use to perform a slew of functions -- from making restaurant reservations to receiving a car from the valet among other incentives and gadgets.

The hotel aspect of their condo units will be operated by Interstate Hotels and Resorts who will maintain a presence in the sales gallery to answer questions regarding Pinnacle's "Turnkey Guest Residency Program" as well as the marketing of the Pinnacle as a resort destination in Las Vegas.

Marnell Corrao has also been announced as their general contractor. The company boasts of local projects such as Wynn, Bellagio, MGM Grand and the Rio. Coupled with the Falcon Group as the project developer, and you have a very strong development team extremely capable of seeing this project through.

Right from the start, I knew this project was a winner. View their virtual tour, then contact me to get a unit for yourself. The project is already 42% reserved, so get in now before groundbreaking on the 12 acre, $850 million dollar project begins this fall.

With a great location, the beauty of the Strip or mountain views without the actual congestion of being on the Strip, the attractive price-points, and the financial certainty of the developers, the Pinnacle is a genuinely different project here in Las Vegas and will make for an excellent investment when it's finished in the spring of 2009.

Wednesday, July 19, 2006

Las Vegas Arts District Is Home To Evolution Lofts High Rise Condos

Boulevard Properties and the Greenwald Group, developers of more than 5,000 residential high rise units and hundreds of multi-million dollar custom homes across the nation, are now setting their sights on the Downtown Las Vegas Arts District with their latest high rise condo project Evolution Lofts.

The 28 story building will feature 19 distinct floor plans with amenities such as a private theater, gym, business center, relaxation lounge, pool and sundeck, access to world-class shopping, dining and nightlife off the Las Vegas Strip, 24 hour concierge service, private secured parking, bicycle storage, cable TV and high-speed internet access.

Designed by JMA Studios (Las Vegas' biggest and best architectural firm), units will have 10' - 11' ceilings with floor-to-ceiling windows to take in the breathtaking views of either the Sierra Mountains or the Las Vegas Strip from the balconies and will be offered in 1, 2, and 3 bedroom floor plans ranging in size from 806 square feet to 2,100 square feet at prices starting at $450,000 to over $1.5 million.

So how do you take advantage of this all? They're going straight to contract right now, where you'll need a check for 10% of the purchase price of your unit. Then at ground breaking (scheduled for January, 2007), you'll need another 10% down - so you'll be in it for 20% total until closing, which is estimated to be sometime in January, 2009.

... Not a bad way to control a hopefully appreciating asset for a small cash outlay. Let me know if you need me to check specific availabilities and prices for you.

Tuesday, July 18, 2006

Is the Spanish View Towers Las Vegas High Rise Condo Project in Danger?

According to an article published in the Las Vegas Business Press, funding issues have caused the construction on the Spanish View Towers high rise condo project to come to a halt and companies are filing millions in liens against the project for work already completed.

The 15 acre suburban high-rise condominium project broke ground earlier this year at its south-west valley location along the 215 Beltway and Buffalo Road, and is being underwritten by private investors as opposed to institutional ones. The $475 million, 2.38 million square-foot development called for three, 18-story buildings with 4-story parking garages and 444 total residences priced from $795K to over $6.6 million.

Spanish View Towers developer Rod Yanke expects to resolve their funding problems with the next few weeks. But you'd never even know any problems even existed if you read their "Views News" newsletter dated July 5th, 2006 which contains the following text:
"If you have driven by the construction site recently, you probably noticed a slow down in progress. This came about due to some financial paperwork issues in the last few weeks. Your sales team has been informed that all the difficulties are being handled and the onsite activity should be moving full steam ahead... The second construction crane should be put in place around the middle of this month. Once the crane is up, “fast track” mode will kick in to make up for some of the delays... With the first tower reaching close to sell out, you will soon see the price sheet for Tower A disappear from our website and the price sheet for Tower B will take its place. At that time we will officially be writing reservations for Tower B."

So is this project really in danger? The Spanish View marketing team certainly doesn't think so. But that probably doesn't console those who have filed liens and are waiting for their money. We'll have to wait this out and see what happens in the next 60 days.

Monday, July 17, 2006

New Resource Available for the "W" Residences High Rise Condo Hotel Development

EdgeStar Residential, the developers of the "W" Residences high rise condo hotel project, just launched their new Customer Resource Center, where you can view floor plans, renderings as well as their brand new e-brochure. Pretty impressive!

Check it out, then get a great deal here >>>

Friday, July 14, 2006

Las Vegas Central High Rise Condo Priority Preview Event

The Las Vegas Central high rise condo project is moving full steam ahead with their Priority Preview Events. Currently being marketed by the Kates Marketing Group, the Las Vegas Central offers an excellent opportunity to buy into a quality high rise project at pricing from the $400K's.

Register for a Priority Preview for the Las Vegas Central high rise condo project

Last week, I had the opportunity to meet with the developer of this project, Bruce Langson, who has an incredibly unique and far-reaching vision for the development of the Central.

Located by the Las Vegas Convention Center and steps off the Strip, the Las Vegas Central features 40 story buildings comprising 1000 condo units with over 100,000 square feet of retail, entertainment and dining. In short, it'll be a city within a city.

And the planned amenities for this amazing project are endless, but I'm going to list them anyway:

The Las Vegas Beach Club, 8 Heated Swimming Pools (one roof top and one 21st floor, one sand bottom), Sun Bathing Pools, Sunset Torch Lighting Ceremony, Sandy Beach, Celebrity Kitchen, Linen Service, Conversation Fire Pits, Lush Tropical Layered Landscape, 4 Storey Lobby, Indoor parking, Wi-Fi in Public Areas, Rooftop Lounge, Pet Friendly Areas, Separate Floor Storage, High Security Entry System, Valet Parking, Spa Facilities, Onsite Nightclub, Blazing Fast Internet, Guest Suites, Room Service, Party Rooms, Community Media Room, Basketball Court, Outdoor Putting Green, Billiards and Games Room, Virtual Golf, Bowling Alley, Dance Practice Room, Soundproof music practice room, Outdoor amphitheatre, Business Center, Maid Service, Equipped Exercise Facilities, Swimming Pools, Yoga/Pilates Room, Saunas, Outdoor BBQ’s, Pet Care Spa, Community Conference Room, Las Vegas Central Club House, and 24 Hour Concierge / Security

They also have one of the greatest project model renderings I've ever seen in their sales center (seeing this alone is worth the trip - trust me!), so I urge you to see this project for yourself by registering for a Priority Preview now.

Wednesday, July 12, 2006

Las Vegas' Newest Condo Project: Spa Lofts

Lofts are a natural extension of the Las Vegas high rise condo market. Now, The Light Group, the developers that brought you Panorama Towers, is now offering a new form of luxury condo ownership called SpaLofts, where inner peace is the ultimate prize.

Spa Lofts - Click here for more info

Their design philosophy is simple - a flexible and clean urban space that
functions as a residence, workplace, and gathering place, all while keeping an open-mind about the possibilities of day-to-day living.

The project's south-west location lends itself to floor-to-ceiling glass windows, allowing natural light and beauty within each unit. The warm and modern finishes express a contrast between stone and wood, and light and dark resulting in a natural balance. Each unit is fully upgraded with a 42" plasma screen television and state-of-the-art surround sound home theater system. You'll have to supply the rest of the furniture!

The focus of SpaLofts is to provide a unique living destination and atmosphere that encourages, rest, relaxation, and rejuvenation. Amenities include a 5,000 square foot full service day spa, state-of-the-art fitness facility, two pools, private cabanas, guard-gated security and underground parking.

SpaLofts only have 147 lofts available for purchase and they're already 60% currently reserved. So if you're looking to buy into a new loft condo project in the incredibly fast growing section of the south-west part of Las Vegas, reserve a unit now at Phase 1 pricing.

Monday, July 10, 2006

Only the Strong Survive the Las Vegas High Rise Condo Market

The Las Vegas high rise condo market now boasts 135 projects totaling over 91 thousand units. However, only 14.6 percent of those units are actually under construction. Applied Analysis, a Las Vegas-based advisory firm, indicated that about 9,000 of those units are associated with either projects that have already been cancelled or have suspended sales.

It became obvious right from the start of the Las Vegas high rise condo hotel craze that the market couldn't absorb the entire potential inventory, and naturally only the strong projects have a chance at being successful. Despite the luxury condo market doubling in size over the past year, less than 25% of all projects have officially broken ground.

Investors looking to flip their units for a quick profit also are forming an active resale market for Las Vegas high rises. The 246 existing units listed for sale in the second quarter had an average list price of $1.1 million and an average per-square-foot price of $631. However, the selling prices tell a much different story, with actual sales prices averaging only $787,000 (27% less than their original asking price).

Read between the lines here and you'll see an incredible investment opportunity for buyers of those condos whose projects are successful. The number of luxury Las Vegas high rise condo projects remains high, yet will still only be a fraction of the inventory potential. Find a strong, solid project with an experienced development team priced right in an outstanding location and you'll take Las Vegas to the bank for a change.

Monday, July 03, 2006

17th And Vine Las Vegas Condos Are Back with Phase 1 PreConstruction Pricing

Henderson's answer to the Northwest Las Vegas' C2 Lofts project and the South Strip's Boca Raton is back!

We haven't heard much from the 17th & Vine mid-rise condo project for a long time - and for good reason. It looks like they were too busy getting all their permits in place in order to start construction! And with a recent barage of newspaper advertising and email blasts, this project is now selling their first 60 units in building 1 at phase one preconstruction prices.

At that's not all. The first 60 purchasers also will receive a flat screen TV and one of those 60 will also receive a completely furnished condo from the folks at RC Willey. Quite a nice incentive!

With prices starting in the low $300K's, 17th and Vine offers six floor plans ranging from 908 to 2,295 square feet. The project amenities include granite countertops, stainless steel applicances, structured wiring, 9-foot ceilings, clubhouse / business center / theater, state-of-the-art workout facility with plasma screens, massage room & pool, spa, underground parking, gated entry, and balconies.

Located at the I-215 and Stephanie in Henderson, you'll have access to exquisite shopping and all of life's simple pleasures just a short stroll away.

Visit the 17th & Vine website for a virtual tour of the proposed community as well as construction progress photos. Dan K. Shaw and Babcock and Brown are the developers/financiers of 17th and Vine, both with solid backgrounds and the ability to make this project a reality.

17th and Vine already have sold 12 units which means as of today, there are only 48 left, so contact me now to get in on this project. Remember, they've already started construction, so the major stumbling block of "will this project ever get built?" has already been addressed successfully with this project. When these first 60 units are sold, prices will go up and the incentives will be gone.

You'll need just 5% at contract signing and another 5% in 90 days afterwards for a total of only 10% down to get into this project. Compare that to other downpayment plans in town and you couldn't ask for a better way to control a significant asset with the least amount of capital outlay.

Off the strip in a beautiful area of Henderson... good price-points... currently under construction... phase 1... low downpayment requirements... This one may be worth looking into.

Thursday, June 29, 2006

Get an Awesome Downtown Condo at Juhl Las Vegas

Unit 1206, plan H.T. is now available at Juhl Las Vegas. The 1,155 square foot condo unit is located on the 12th floor of the building. With wrap-around glass walls, an open floor plan, exposed mechanicals, 10 foot ceilings, private balcony, slab granite kitchen counters, Grohe fixtures and never-ending vistas, it's a steal being offered at $699,900.

Juhl and its amazing architecture is now under construction. Get this unit NOW!

Wednesday, June 28, 2006

Las Vegas High Rise Condos Making Impact on Housing Statistics

High Rise Condos in Las Vegas are starting to make their impact on housing statistics . 48 high rise condos closed escrow in May, 40 of which were at the SoHo Lofts project in downtown Las Vegas. Unlike the rest of the country which allegedly is experiencing a "housing bubble", prices have yet to fall in Las Vegas, as many "industry experts" believed.

While only 48 closings may seem like a very small number, guess what's going to happen in the upcoming months? More and more high rise units will start closing, including just about all of the 580 units of Tower A at the MGM Residences, Panorama units, SoHo lofts, and Sky (Las Vegas). The closing rate of Las Vegas high rise condos will more and more become a regular and increasing number.

The result? The upswing of high rise closings will undoubtably drive up the average home price statistics significantly and the humber of high-rise units coming on the market will continue to rise as the first wave of high rise developments are completed, with total sales volume, pardon the pun, rising high.

With year to date new home sales up 8.9 percent and existing home sales down 9.8 percent, the trend continues toward vertical development, and with the number of incentives offered by builders, including higher broker commissions, free upgrades, and in some cases helping to pay closing costs, it should continue for quite some time.

While price appreciation has dropped in Phoenix, Denver, and San Diego, appreciation in the Las Vegas market has actually risen. Just like there's no crying in baseball, there's no pre-construction housing bubble in Las Vegas. The Las Vegas high rise market comes through again! Are you part of it yet?