Continuing Ed - Nevada Agency Relationships

Nevada Agency Relationships
CE. 3277000-RE 3 Hrs. Agency (A)

Wednesday, May 3rd 9am-Noon
Location: Realty Executives 10750 W. Charleston Blvd., # 180 (E of 215)$30 includes materials - Free to Realty Executives

Instructor - Steven Kitnick

Please arrive at least 15 minutes prior to start of class. All classes will begin promptly. Sorry! No admittance 10 minutes after start of class.

Pre-Registration Required! You must pre-register. Pay at the door. Cash or Check Only. Pre-Register Fax: (702) 255-4782 or www.NevadaCE.com

Las Vegas Ranks #1

Las Vegas tops the list of convention cities in new industry rankings according to Tradeshow Week magazine rankings. Orlando takes second and Chicago third in the rankings of cities who host the most and biggest conventions across the country, says Tradeshow Week magazine.

Rankings are determined by the number of large trade shows hosted by each city. The U.S. convention business is a billion dollar industry and there is intense competition among cities for a bigger share of it.

With Las Vegas topping the list, experts say this can only bolster the local economy and could even play a role in the local real estate market.

Continuing Ed - The Residential Purchase Agreement

The Residential Purchase Agreement
CE. 3224000-RE 4 Hrs. Contracts (C)Tuesday, May 2nd 1pm-5pmLocation: Realty Executives 10750 W. Charleston Blvd., # 180 (E of 215)Las Vegas Nevada $40 includes materials - Free to Realty Executives

Instructor - Steven Kitnick

Please arrive at least 15 minutes prior to start of class. All classes will begin promptly. Sorry! No admittance 10 minutes after start of class.

Pre-Registration Required! You must pre-register. Pay at the door. Cash or Check Only. Pre-Register Fax: (702) 255-4782 or www.NevadaCE.com

Utilizing Las Vegas Real Estate

Beautiful Las Vegas real estate is available just east of Green Valley Las Vegas. 15 miles east of Green Valley rest the gorgeous Lake Las Vegas Resort. There you find the pristine state of the art condo, the Viera, with units starting at 450 sq. ft.

Residents known for disappearing from their residential homes can be found here lounging away the weekend.Whether you want to own a condo for your second home or are interested in renting your condo to vacationers, there are many ways to utilize a luxurious condo.

Single-Family Las Vegas Homes Prices Are On The Rise

Single-family home prices are on the rise! Is it because the local real estate market is still hot? Is it because Las Vegas condos are still on the rise? Some analysts say yes. They say proof is in the stats.

The Greater Las Vegas Association of Realtors says that the average price for single-family home was $314,950 for the month of March.

That is an increase of almost 7% for local homes from the same time last year.
Greater Las Vegas Association of Realtors said single-family homes increased almost $6,000 or right at 2%, from $309,000 in February.

W Boutique Introduces The W Las Vegas Hotel, Casion and Residences

The W Las Vegas Hotel, Casino and Residences have arrived and other local condo developers are watching. The W Las Vegas Hotel is the largest W property and the first in the boutique brand to boast a casino. It has recently entered the phase for pre-public and preconstruction reservations.

Edge Star Partners and Starwood partnered up for the major real estate development. They have now started construction for a welcome center that will introduce the W Las Vegas Hotel to the general public.

Maggie Feldman, spokesperson for W Las Vegas, has reported that the demand for the W Las Vegas Hotel has been overwhelming.

The Platinum

Many reports from the Las Vegas Sun back in January hit on the topic of new Las Vegas condo and hotel concepts coming to the Las Vegas Strip. Those reports disclosed that the first condo-hotels near to the strip would be open in the first half of 2006.

The addition of these could be a huge bolster for the local real estate market and new condo development. The Platinum was one of those condo-hotels.

The Platinum is an $85 million, 255 room condo-hotel property. According to the Las Vegas Convention and Visitors Authority online construction report, it is now slated for opening by the end of this month.

Choice Bank Acquired By Silver State Bancorp

On Wednesday Silver State Bancorp acquired Choice Bank. The cash deal acquisition valued out at more than $31 million according to officials of the two financial firms. In the acquisition Choice Bank Shareholders received $27.50 per share stock from Henderson based Silver State Bancorp.

The Henderson-Las Vegas area is home to nine branches of Silver State Bancorp. In Silver State's report of assets for last year they revealed $806 million and stockholder equity of over $63 million. Silver State surely would love to land a few real estate accounts and definitely would not shy away from Las Vegas condo accounts.

Vegas Behind The Curve?

According to a report of Applied Analysis, a Las Vegas-based financial think tank says the development of new condo projects could be a game of catch up. Their report stated that the local Vegas real estate is behind the curb in terms of the total housing market that is condominiums.

This being said some analysts of the Las Vegas market think that with the increase in new condo construction we should see Las Vegas rising in the ranks. As it is now Las Vegas ranks 22nd in top U.S. markets in share of the total housing market that is determining where the futre of Las Vegas goes.

Las Vegas In The Top 3 In Apartment Rent Increases

Real Facts real estate research firm released a new report stating that Las Vegas real estate is in the top three in the nation in increasing apartment rents. According to the report Las Vegas apartment rents are second only to Phoenix and Orange County, CA.

The report says that in March the average apartment cost in Las Vegas was just over $800 which is a 6% increase from last year.

Las Vegas Condos Market

Even with rumors that the Las Vegas home market is cooling, developers and investors are pushing for more condo conversions in Las Vegas. Real estate investor Louis Birdman of Florida based Sun Vest Communities, is still optimistic about the opportunity that Las Vegas real estate presents.

So far this year Sun Vest has sold almost 2,000 condos in Florida, Arizona, and Nevada. This year in Las Vegas the firm has sold at least 400 Las Vegas condos.

Last year Sun Vest spent $40 million on Traverse Point apartments and has converted them to one bedroom condo units starting around $100,000.

Furniture/Today Conference Is A Success

Last months Bedding Conference was held in Henderson and hailed a success. The first all-industry conference was sponsored by Furniture/Today. The event had retailers from all over the country in attendance. In all there were more than 200 producers, retailers, and suppliers in Henderson for the three day event which ran in late March.

The success of the convention could have a positive impact on the condo market. Many newly constructed condos are entering into the billion dollar industry of U.S. consumer conferences.

With this competition for conference dollars and the constant flow of people on the hunt for real estate in Las Vegas, look for the local market to thrive.

Questioning Land And Construction Prices In The Valley

People in the local real estate market are wondering if land prices are affecting the valley’s growth. Some argue that Las Vegas is moderating its own growth because of the effect land prices are having on the real estate, including condo pricing.

John Restrepo, board member of the National Association of Industrial and Office Properties, says that because of the increase in land prices developers from residential and commercial projects are reevaluating their projects.

Others argue that land prices aren't having the effects on the condos that Restrepo and others like him think. They say that the market is adjusting and that if there is something to be concerned about it should be the effects of construction costs on the real estate prices.

Expansion For Environ Trading Inc.

In Las Vegas, Environ Trading Inc. has doubled its office facilities and their corporate warehouse. The company has now doubled its facilities and warehouse twice in two years stating that it was needed.

With this expansion Environ Trading Inc. has opened an opportunity for an increase in the amount of local real estate that could be sold. With the expansion Environ will need more employees which means that those employed will either need new homes or they will look into acquiring condos.

According to the front office the expansion was needed to make quicker shipments. Recently there has been an increased customer demand for quicker shipments spokesman for Environ Trading Inc. states.

Las Vegas Sands Has Big Plans

The plans for the new resort for the Marina Bay have been released by Las Vegas casino and hotel the Sands. The plans introduce the Marina Bay Sands, a new and integrated resort with over 2,500 rooms and costing close to $ 4 billion dollars. This new resort will impact surrounding areas and could possibly play a big role in the local real estate market.

Developers of the new resort plan to host conventions and can easily do so with over 1 million sq. ft. of flexible convention space.

The development will also specialize in the hospitality sector, which is said to rival that of all its local competitors. In addition to having over 2,500 rooms there is also over a million sq. ft. of retail space and at least three large entertainment venues. According to the Sands front office, it is committed to completing the project by 2009.

Mormons Make Water Deal With Las Vegas

It was a day of first for Las Vegas. The Mormon Church and the Southern Nevada Water Authority have struck a $7.2 million deal. In it the Church of Jesus Christ of Latter-day Saints to use church water rights to help quench the thirst of the Las Vegas area.

This will invariably help increase the amount of real estate that is sold in the area.
Details of the deal allow for a 20 year lease which allows the Las Vegas based water agency to draw 2,001 acre-feet of water a year.

This will be enough to service some 4,000 homes and condos. The deal also comes with an option for two 10 year extensions.