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Wednesday, January 31, 2007

World Market Center Continues to Make Juhl Las Vegas Condos Very Attractive Investments

Yesterday, we spoke of financing furniture for your Las Vegas high rise condo. And speaking of furniture, you can't say enough about the success of downtown Las Vegas' booming World Market Center, which is quickly becoming the center of the world's furniture industry. With the Winter Las Vegas Trade Market trade show being in town this week, some 62,000 people will descend upon the downtown site in what I'm sure will be another successful event for the 18-month old destination in their quest to shift the nation's furniture center from North Carolina to Las Vegas.

And it only gets better as the Center developers continue to move forward on their $3 billion trade center, scheduled for total completion at the end of 2013. The steel frame of the third phase of the eight-building project started rising Tuesday and construction on the fourth building will begin by the end of the year.

Will they succeed? I'm betting yes. The developers are spending a ton of money to make this work. Space in the Las Vegas venue rents for an average of $30 per square foot, according to the World Market Center, meaning a 6,500-square-foot showroom could cost $195,000 annually. These companies have money!

So the question remains: If the World Market Center is already a success, and the developers continue to build out their vision for 2013, and furniture companies continue the trend of moving out west, doesn't it make sense to own a high rise condo within walking distance to this grand destination? Would such a high rise have trouble renting? How many furniture companies would welcome renting a location within walking distance for their employees and/or clients?

Exactly! I strongly urge you to look into Juhl Las Vegas, one of the best priced and overlooked condo project in town. Let me know if you'd like to know what's still available there.

Monday, January 29, 2007

Finance Your High Rise Condo Furniture!

Can you finance furniture for your Las Vegas high rise condo within your mortgage? The answer is YES, you can! The folks over at Condo Mortage Group can show you how. In fact, read an excellent post on this topic on today's CondoDomain Blog. I know these people... add them to your list of high rise condo resources.

Thursday, January 25, 2007

Interesting Article Regarding MGM's Project CityCenter Las Vegas High Rise Condo Hotels

Click here for the article "Owning a Piece of the Strip: CityCenter's High-Rise Community Brings Urban Resort Residential to Las Vegas", which is featured in the current issue of "M Lifestyle", the magazine of MGM Mirage.

Sure, it's the MGM's magazine... and sure, it's an MGM Project. But don't let that bias you. This project is completely outstanding. I went to the Preferred Broker Open House last night and got another first-hand look at the enormity of this fantastic development and can't speak highly enough about this opportunity. So read the article, then register for a unit.

You'll be glad you did!

Wednesday, January 24, 2007

Construction on One Las Vegas High Rise Condos Reaches Tower Top

While a great many Las Vegas high rise condo projects are "in your face" with their advertising and marketing efforts, you never really hear too much about the One Las Vegas project, unless it's good news, in which case we hear about them often.

Photo by Ralph Fountain - Las Vegas Review JournalIn fact, the South Strip project is fully financed and has reached another construction milestone in that they just topped off construction on their 20-story, 182-unit first tower, which is scheduled for completion late this year. They're also up to the 16th floor on Tower II, which will contain another 179 condo units. Here's a project that's quietly getting things done and providing an excellent high rise condo product for their smart purchasers.

When the One Las Vegas project is fully completed, 5 towers and over 1,000 condo units will be built on the 20-acre site at a cost of approximately $142 million dollars.

With prices starting in the high $200Ks for an 830 square foot 1-bedroom condo, One Las Vegas seems to be the Rodney Dangerfield of Las Vegas high rise condo projects in that they don't get the respect they deserve. This is a solid project with great architecture, a great development team, and amazing price points for what you're getting. Plus it's South Strip location puts you close to the airport and the Strip without the noise and congestion. And with the neighboring Town Square retail and entertainment center moving along nicely, the One Las Vegas project is nicely poised for a terrific bargain for those looking to live the high rise life in Las Vegas.

And for the skeptics out there, it's actually getting built! As Rodney would say, "Oh, it's a tough crowd!"

Monday, January 22, 2007

MGM Mirage's Project CityCenter Already Transforming Las Vegas Strip

If you haven't done so already, register to tour the models of MGM Mirage's $7 billion dollar Project CityCenter. You'll be amazed at the scope of this project. In fact, yesterday's article by Joe Schoenmann in the Las Vegas Sun states the "Magnitude of the City Center plan is enough to leave you speechless". And the author's right.

Click here to register for Project CityCenter
Reservations in this project continue to be a no-brainer for those investors seeking to own a piece of the Strip that will completely redefine the Las Vegas high rise condo market. Only two weeks after public sales began, CityCenter already has reservations for 1,500 of its 2,700 available condominiums.

The project hopes to receive LEED certification (Leadership in Energy and Environmental Design) by featuring environmentally friendly design and construction, including energy-efficient glass in the hotel rooms, carpeting made from recycled materials, and construction is progressing with reused material that came from the original torn down casino.

How'd you like to own a piece of Central Park in New York City 50 years ago? Well... Project CityCenter is Las Vegas' version of that great an opportunity.

Friday, January 19, 2007

Sullivan Square High Rise Condo Project At Contact Signing Stage

The Sullivan Square high rise condo project has just announced that they're taking reservations to the next level. Now that the project has their final construction costs from their contractor in place, each residence now has solidified pricing. As such, the high rise project is now officially signing contracts.

With prices starting from the high $300Ks to $1.7 million, Sullivan Square has residences available ranging from 600 to 1,800 square feet. The Madison Tower, the first high rise condo tower to be released, is already 50% sold.

We've written about Sullivan Square before. I would strongly looking into this project for those of you looking to live in the Southwest part of town.

Thursday, January 18, 2007

Verge Mid-Rise Condos Betting on Downtown Las Vegas Success

I just got word of the newest Las Vegas downtown condo project, the Verge. They're completely new - so much so that they're still working on their marketing and sales material. But before they go public with their product, let me tell you this: Studio units will be available starting at only $149,900!

Now I know what you're thinking (I had the same thought): Wow, that's cheap - that's just a marketing ploy. They'll sell one unit for that amount and bump the price to the $350K's (now where did I hear that one?...)

However, what makes me think this actually may be a good project is that I personally know a few people on the Verge Team, and the company marketing this project has been associated with quality projects here in town in the past, including the likes of the Cosmo high rise condo hotel project.

It's way too early for any specific details, but if you'd like to provide me with your full name, address (city/state/zip), phone number, and email address, I'll register you for this project so you'll be the first to know when units hit the market (including those $149,900 ones!). There's absolutely no obligation for registering and it's free, so contact me today to get on the interest list for this project.

Thursday, January 11, 2007

High Tax Liability? "GO Zone" Properties Make Excellent Alternative to Las Vegas High Rise Condos

Suprisingly enough, not all people want to own a Las Vegas high rise condo. Believe it or not, some people don't even LIKE Las Vegas. Well, here's a post dedicated just to them!

Awhile back, I started doing some research into tax free investments as part of some due diligence for my 1031 exchange clients and stumbled across something known as the "GO Zone". The "GO Zone" area is comprised of specific locations within Louisiana, Mississippi, and Alabama. ("GO" as in "Gulf Opportunity"). On December 21st, 2005, President Bush signed H.R. 4440, commonly known as the Gulf Opportunity Zone Act of 2005. As a result of the devastation attributed to Hurricane Katrina, this act provides investors and developers with tremendous tax incentives, including up to 50% bonus depreciation allowing you to literally write off hundreds of thousands of dollars, while still turning profits on the property.

It's taken some time, but I've created a network of real estate brokers, agents, lawyers, accountants, developers, and investors to take advantage of this incredible opportunity, all showcased at the GoZoneProjects.com website, which is still in its infancy and being updated constantly.

Here's how it works. If you qualify for the GO Zone incentives and you have a high tax liability, investing in a Go Zone property allows you to write off up to 50% in the first year of ownership. Now, I'm no accountant (or lawyer for that matter), but if I've just described you in the previous sentence, I urge you to first call your accountant and have him give you the scoop to see if the GO Zone is right for you. (And if your accountant doesn't know about the Go Zone incentives, tell him to research it online - he/she'll be your friend forever!) Then, register at the GoZone Projects website to see how our network can help you find a suitable property.

Just remember: Not all investors - or all properties - qualify under the GO Zone Act - that's where your accountant comes in. But if you do qualify, boy!... have you come to the right place!

Monday, January 08, 2007

MGM Grand's City Center - It's Time!

The time has finally come for the mother of all Las Vegas high rise condo projects, MGM Grand's Project City Center. My office has just achieved "preferred broker" status with this project and can now take reservations from interested purchasers.

More than 1,200 people have already paid between $10,000 and $25,000 to reserve condo and condo hotel units at the $7 billion project, and now's your turn if you're interested in getting in on the hottest property Las Vegas has EVER seen!

Regular readers of this blog already know how bullish I am about anything MGM does, so it shouldn't be surprising when I tell you reservations on this project will sell out quickly. What also shouldn't be surprising is that CityCenter is not cheap - however, if you have the money and are looking to own a piece of a property that will no doubt transform the entire area of the strip by the Bellagio, your CityCenter unit will make an excellent long-term investment, priced from $500,000 and up.

While the reservation fee is completely refundable, buyers who decide to proceed further with their purchase will be required to put down two 10-percent deposits over 6 months, with the first deposit required in early February. I can't stress enough how important it is to act fast on this one.

Those of you who asked to be put on our City Center interest list have already been contacted. The rest of you, perhaps reading this blog for the first time, act NOW! If you're interested and serious on this, please contact me immediately with all your contact information including your phone number and we'll get you that City Center unit you so richly deserve!

Thursday, January 04, 2007

Columbia Sussex Plans High Rise Condo Hotel with Newly Owned Tropicana Resort

It's been said one of the most valuable pieces of real estate in Las Vegas is the 34-acre corner of Tropicana and Las Vegas Boulevard. Kentucky based Columbia Sussex Corp. obviously agrees as they just became the new owners of the Tropicana Resort - and immediately announced plans to demolish and remodel the current 1,880-room icon over the next two years.

Company officials said they would spend $2 billion to remodel the Tropicana to include 9,276 hotel rooms, 948 condo-hotel units, 85,460 square feet of casino room, 644,320 square feet of convention and meeting space; and 273,292 square feet of a retail space.

With the Residences just about all complete, and MGM's Project City Center under construction practically across the street, that little corner of town is getting more valuable by the minute and perhaps one day, we'll be referring to this section of town as "condo-hotel village".

It's way too early for any significant details with the Trop. However, make sure your next trip into town includes a visit to the Residences and Project CityCenter, as MGM won't let you down! All you have to do is contact me to arrange it.