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!

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?

MGM Mirage unveils Project CityCenter Mega-Project High Rise Condo Hotel Model

Mention was made yesterday regarding the highly anticipated construction progress with respect to the MGM Grand's Project CityCenter. Here's an article in today's Las Vegas Review Journal which goes into further detail.

Project CityCenter will transform Las Vegas into something it's never seen before. Get involved by adding your name to the interest list for their high rise condo hotel opportunities.

Finally... Project CityCenter Moving Forward

MGM Mirage finally began construction on their $7 billion dollar CityCenter project, the largest privately financed construction project in the history of the United States.

The 18 million square foot mixed use urban village will integrate high rise residential condominiums and a major retail mall with a hotel-casino development and will eventually transform the Las Vegas Strip into a living experience like nothing Vegas has ever seen.

Perini Construction, one of the largest and most respected builders in Las Vegas, is the construction company hired to build CityCenter, which will include a 60-story, 4,000 room hotel-casino tower, two 400-room, nongaming hotels; 500,000 square feet of retail shops, dining and entertainment venues; and residential condominiums.

When the project is fully completed and opened, Project CityCenter will employ 12,000 people in the project's retail and residential components, and Las Vegas will have a totally modern urban residential district with high-end shops, gourmet restaurants and unique pedestrian trails.

In short, with the resources MGM Grand brings to the table, this project is poised to be a major success. You too can get involved with the most impactful project Las Vegas has ever seen by getting on an interest list to purchase the high rise condo units. Like I said before, it won't be cheap, but if you feel you've missed out on the Las Vegas high rise condo hotel craze, Project CityCenter will make it up to you.

Heat is Relative Depending on Your High Rise Condo Location

I'm writing this post from my hotel room in San Diego, where I'm here to tour some of the high rises built by CityMark Development. If that name sounds familiar to you, it should, since they are the developers of the Juhl Lofts in Downtown Las Vegas, which also happens to be one of my favorite mid rise condo projects in Las Vegas.

Apparently, people in San Diego are bracing for some extremely hot un-seasonable weather this weekend... at least for them. With temperatures approaching the high 80's, people here are expecting the worst. What a difference that is from Las Vegas, where it's been consistently over a hundred degrees for over 3 weeks now - and it's only June! San Diego doesn't know how lucky they've got it.

Everything's hot in Vegas, including the high rise condo market. That's why CityMark Development picked their downtown location to build Juhl to begin with. Juhl's their first Las Vegas project, but judging by their San Diego properties, that's no cause for pause. Some of their San Diego condo properties in their portfolio include The Egyptian, Doma, Cortez Hill, Paseo, and the M2i in the Ballpark District of San Diego. With a resume such as this, there can be no doubt regarding the success of Juhl.

If you haven't already, I urge you to contact me regarding an awesome Juhl availability that I just found out about today. My San Diego trip can be of great value if you act on this deal today.

Las Vegas Central High Rise Condo Preview

The Las Vegas Central high rise condo project is offering a select number of high rise condo residences from the $400's at their upcoming preview presentation where you can get all the details you need regarding this high rise development.

From their recent press release:

Las Vegas Central incorporates two 40-story towers, 1,000 luxury homes, and 100,000 square feet of retail and commercial space into one single dynamic location, a city within a city. Homeowners at Las Vegas Central will enjoy an unprecedented living experience. They will savor the luxury of a gorgeous home and a full slate of resort-style amenities, including no less than eight swimming pools, two of which are perfectly situated to take advantage of Las Vegas Central’s stunning panoramic views of the Strip.

Contact me if you'd like an invite to this event. We've waited a long time for this project - and it looks like it was worth the wait!

Million Dollar Pricetags More Common, Making Lesser Priced High Rise Condos More Attractive

According to a recent article in Forbes Magazine, the number of million-dollar, owner-occupied homes in this country has nearly doubled since 2000, topped by California, where 1 out of 25 homes is priced over the 1 million dollar mark.

So what will $1,000,000 buy you these days? In California, probably not very much. But here in Las Vegas, where high rise and mid rise condo developers are raising the bar on just about every development and amenity package, you can probably have the million dollar lifestyle for much, much less.

See what $1,000,000 will buy you around the country. I think I'd rather spend half that and live the life in Las Vegas.

2 Las Vegas High Rise Condo Sites Available for Purchase

I don't mean units... I mean the whole development! My office just got access to 2 high rise development deals both located on the South Strip, with frontage right on Las Vegas Boulevard.

All approvals are in place and they're ready to go. One's approved for 317 units, the other for 770 units.

This is a tremendous opportunity for a developer or a big-time investor to enter the booming Las Vegas high rise condo market, so if you want to play with the heavy-hitters, get more information at our Real Estate Investment Opportunities blog.

Real Estate Condo and Investment Property Blog Craze Hits Las Vegas

This internet blogging mania just keeps getting crazier and crazier. In addition to the newly launched nationwide Condo Blog, we're recently just created two other blogs dedicated to the real estate community, one targeted to high rise developers nationally to showcase their projects and the other for real estate investors looking for profitable real estate deals not found anywhere else.

If you're a high rise condo hotel developer reading this post, then contact us with a full description of your project along with your artist's rendering of your high rise and we'll add it to the newly published Preconstruction High Rise Blog free of charge. Then, if you really want to get some bang for your buck, visit High Rise Blogging to see how to take your marketing efforts for your new project to the next level. And if traffic to this high rise blog is any indication, you're definitely going to want a blog for your high rise.

In addition, many readers have emailed me on occasion off this blog asking me about solid real estate opportunities that may not involve high rises at all. Our brand new Real Estate Investment Opportunities blog addresses that issue with some awesome development and investment real estate projects you won't find elsewhere because they're not actively shopped around.

Add that to our Available 1031 NNN Property blog and hopefully we'll always provide you with something real estate wise that you should be looking into further.

Blogmania... gotta love it!

Andiamo Coffee Offers Unique Program to High Rise Projects and Developers

New York based Andiamo Coffee, Inc. has just announced a very unique coffee equipment program targeted to high rise condo projects and developers. It's so new, it isn't even on their website yet, but here are the details:

Andiamo Coffee is offering to supply high rises with Rancilo Espresso machines at bulk pricing of the equipment which is manufactured in Italy. They're also throwing in a free pound of their Silician Blend Espresso with each machine to get you started.

This offering is very interesting because, first of all, high rise living is all about elegance and a luxurious lifestyle and secondly, most of these high rise units at this point just come with regular coffee makers in their proposed kitchen layouts. When you really get down to it, an espresso machine for making cappaccinos and lattes is a must, specially since everyone's already "sold" on the idea that drinking gourmet coffee is all the rage these days. I would think a 20th-floor espresso overlooking the Vegas skyline would taste very good.

High rise purchasers are spending a lot of money for their units. If you're a high rise developer reading this, consider contacting Andiamo Coffee and asking about their new program... go that extra mile for the customers that are putting their trust in your project.

Announcing The New Nationwide Condo Blog

I've got some really exciting news out of Boston, Mass. where I'll be the West Coast moderator of a brand new "urban" blog concept being hosted as a new addition to the CondoDomain website, a national condominium vertical search engine. The new blog has just been launched and can be viewed at the link below:

http://www.condodomain.com/blog

The purpose of this blog is to share “street level” information on real estate topics, local news & events and other related subjects. We'll be partnering with other real estate bloggers nationwide who know their areas like the back of their hands to create a destination where you can read postings from a variety of knowledgeable real estate sources.

In fact, all the bloggers who participate must be full service real estate agents who consider themselves experts in their respective local real estate markets. So read it... Ask questions, make comments - as we reach new markets, this will be your resource to get information from just about every area in the country.

And if you're an agent looking to join our blogging network, there's no better way to get qualified referrals from interested parties.

I know you've already bookmarked this Las Vegas High Rise Condo blog, but may I suggest you bookmark this new blog as well? Watch for a big PR launch next Tuesday!

Financing on the Horizon at The Pinnacle Las Vegas High Rise Condo Project

The Pittsburgh-based Falcon Group, developers of the Pinnacle high rise condo project has so far financed their 36-story, 1,100 unit condo project internally. But when you're talking about serious millions, that's when it's necessary to call in the heavy hitters.

As such, they've begun working with Berkshire Capital Financing of New York on a $550 million construction loan for their project located on Tropicana Avenue across from the Orleans Casino on the former site of Falconi Honda. And since they already own the 12-acre parcel that the project will sit on, construction financing shouldn't be too much of a problem either.

Pricing... Good location off the Strip... Perhaps the best looking renderings in town with "Skywalk" units... Resort-like amenities... Excellent financials... The Pinnacle's got a lot going for it.

Go for it!

Second Tower Topped Off At MGM Grand Residences Las Vegas High Rise Condo Hotel

You want progress? I'll show you progress.

With completion scheduled for later this year, the second tower at the MGM Grand Residences project was topped off as construction surpassed the 19th floor. As you read in a previous post, the first Tower's just about done and people are already moving in. So... with Tower A done, and Tower B topped off, is there any reason to think Tower C won't be as successful?

The third tower is set for completion in 2008 and offers everything you'll find in the previous two. In talking with many potential high rise purchasers, the number one reason I hear for not going ahead with a high rise condo purchase is the buyer's fear that the project will never get built and their money will stay in escrow doing nothing for a 2 year period of time.

Progress is happening at MGM. With units still available and priced from $600Ks on up, can it be more obvious that this project's a winner? Fear not - and to borrow a phrase from Star Wars (which I saw again on cable last night),

"Search your feelings... you know it to be true!"

Power of Brand Name Evidenced by Trump Las Vegas High Rise Condo Hotel

"The Donald" recently visited Las Vegas to check up on the progress of his 1,282 unit high rise condo hotel project, which at this point is almost all sold out. He had to have been impressed as construction on the tower has already reached 25 stories in height with 39 stories still to build. I drive by there often and it's really looking good.

Trump Las Vegas includes 880 studio units and 352 one-bedroom suites on the 16th through the 59th floors, and 50 one-, two-, and three- bedroom suites on the upper five floors. Buyers can live in their units full or part time, or rent their units out either on their own, or through Trump hotel operations, or through any other property management company they choose. That's the beauty of a condo-hotel - and with the Trump brand, I don't think you'll have a shortage of people wanting to rent units.

Like I said, Trump's ALMOST sold out. Prices start from the $700s and go to $7 million. And don't forget Trump Tower II - now's the time to step up if you're thinking of condo-hotel ownership in Las Vegas.

Factor Traffic When Considering A Las Vegas High Rise Condo Purchase

With each passing day, more and more people move into Las Vegas - I've heard as many as 6,000 per month. (of course at the same time, many people move out of Vegas as well, but I'll guarantee you it's not at the same rate). That makes for a great real estate market, but it certainly doesn't help the traffic situation.

You've all heard the reports of over 100 high rise condo projects on the table for Las Vegas, both on and off the strip, and if you consider how traffic is bad now, can you imagine what it will be like in 5 years time?

That's why when you consider purchasing a high rise condo, it's important to find one with the most amenities and most mixed use capabilities - so basically you can live there without ever leaving the property. Plus, it's a good strategy if you want to rent your unit, as those people renting your units will most likely like to stay clear of frustrations... and what could be more frustrating than traffic?

While I'm exaggerating somewhat, traffic is getting to be a big problem in this town and unfortunately it won't be getting any better anytime soon. For example, people who buy into the MGM Grand Residences basically have the best of Las Vegas right at their fingertips, and all you have to do is get there from the airport! Plus, you have the entire Strip accessible from the Monorail.

Have you driven on the Strip lately on a weekend at any time? B-R-U-T-A-L!... and that's today! What's it going to be like when Trump, Cosmo, and that entire Harmon Corridor area is developed?

You can get the latest Las Vegas traffic report here >>>

... but buy a Las Vegas high rise condo here >>>

Las Ramblas High Rise Condo Hotel Project Sold to Edge Resorts

Edge Resorts is continuing their strong play in the Las Vegas high rise condo market by acquiring the 25-acre Las Ramblas project on Harmon Avenue for $202 million. Centra and Related bought the land for $75 million and stand to make a nice profit of $127 million on the deal.

The new project will be known as "Edge East" and will be developed as a complementary addition to the "W" Las Vegas hotel as a boutique hotel district with a central casino.

What that means for high rise condo unit buyers is that entire $20 billion dollars of development along the Harmon corridor will make Starwood Worldwide and Edge Resorts a major player in the Las Vegas high rise market. If you've already bought into the "W" Residences (like this blog told you to!), you've now bought into a 50-acre project that will rival the likes of Project CityCenter. And if you bought in when I told you to, you probably got a great deal on your unit as well.

It's way too early to know what the mix of condo-hotel units at Edge East will be, or what prices they'll go for, but it's a safe bet to say with the backbone of Edge Resorts and the resources they bring to the table, you'd be wise to at least get on an interest list for this project - or even better, snag a unit at the "W", which is looking more and more like a winner with each passing day.

Buyers Taking Las Vegas High Rise Condo Developer Related to Court

Everyone knew it was going to happen. It was just a matter of time. News out of the Las Vegas high rise condo world shows the buyers of the cancelled ICON high rise project are suing the project developer for breaking purchase agreements. And once again, they'll be only one winner: the lawyers.

ICON high rise purchasers are upset on two levels - the obvious one is that the unit they purchased will not get built. But an somewhat overlooked point is the opportunity cost they missed regarding other successful projects that they could have bought into while their money was sitting there at ICON doing nothing. If only they bought into Sky... or MGM... or Turnberry... not only would they be seeing continual construction progress, but most likely they'd be seeing the same appreciation buyers of those successful projects have already seen, and continue to see every day.

You can see the developer's point too. Rather than build a building they'd take a beating on due to rising construction costs, The Related Group figured it would be cheaper for them to kill the project and roll the dice with a class-action lawsuit they knew would eventually come their way. Related paid approximately $15 million for the land and rumor has it the 3-acre site is currently in escrow for $30 million. That should give them plenty of money to pay their court fees. It's hard to feel sorry for a company that makes $15 million on a failed project.

Lawsuits are everywhere these days, and they take forever to settle. Here's my advice to buyers of ICON units: get back on the horse. The race is far from over and the high rise market in Las Vegas is still in it's infancy. There's incredible opportunity out there in the right project. (HINT: if you liked ICON, you'll love ONE - and I'm pretty sure that project won't be canceled)