Nevada has been in the news a lot lately for problematic reasons related to the mortgage industry and residential real estate issues. But after a long drought it again has something to cheer about. It once more is the fastest-growing state in the union, after being edged out last year by Arizona. The official growth rate is 2.9% for the calendar year closing out July 1, bringing its total population to over 2.56 million, as was reported by the Census Bureau.
The trend is expected to follow the same path in the coming years. Clark County, home to Las Vegas, holds well over 70% of the state's population and is its growth engine. Currently there are several mega resorts and condominium projects under construction or will soon break ground on or near the Strip that will add thousands of jobs and bring more people to the valley, according to UNLV's Center for Business and Economic Research.
In the national growth picture Arizona claimed second place with 2.8% rate, leaving it only a half step behind Nevada, so the race is close. Western states continued to show their attraction power as Utah and Idaho took the next two spots on the list.
Las Vegas housing market has been suffering lately from overbuilding and this favorable population growth trend will undoubtedly provide a catalyst to pull it out of the morass. As builders are cutting back the supply is diminishing and new arrivals will help improve the demand side which then will bring more balance to the equation. And perhaps even start putting upward pressure on prices.
Saturday, December 29, 2007
Friday, December 21, 2007
Platinum Condominium
http://www.buyintovegas.com/Listing/VirtualTour.aspx?ListingID=1200449
Buy this Platinum Condo/Hotel minutes from the Strip and the owner will contribute $130,000 towards your next 2 years payments and still enjoy the rental income.
Price $600,000
Buy this Platinum Condo/Hotel minutes from the Strip and the owner will contribute $130,000 towards your next 2 years payments and still enjoy the rental income.
Price $600,000
Friday, December 7, 2007
Fed might cut rates next week
The next phase of the subprime workout plan could come next week, when the U.S. Federal Reserve Board is widely expected to cut its benchmark federal funds rate to 4 per cent.
In a statement, Fed chief Ben Bernanke called the mortgage rate freeze a “welcome step
In a statement, Fed chief Ben Bernanke called the mortgage rate freeze a “welcome step
Wednesday, December 5, 2007
One Las Vegas
• Location: South Las Vegas Blvd
• Bldg. Type: Condo/High Rise
• No. of Towers: 5
• No. of Stories: 18-20
• No. of Units: 961
• Unit Sizes: One, Two. And Three bedrooms
• Price Range: $275K -$1 million
• Square Footage: 831 sf -2857 sf
• Status: Pre Construction sales – Phase II
• Estimated Break Ground Date: Broke Ground APRIL 2006
• Estimated Completion Date: Phase I (TOWER I AND II) LATE 2007, Phase II (TOWER III) Early 2008, Final 2010
• Developer: AmLand Development B.S.R. Group
• Renderings: Click Here
• Official Website: http://www.one-lasvegas.com
Project Amenities
• On-site concierge service and valet service
• On-site maintenance personnel
• Two guard gated entrances with 24/7 attendants and roaming security
• Two pools with lush tropical landscaping, private cabanas and outdoor hot tubs
• Lighted tennis and basketball court
• half mile fitness trail perfect for walking or running
• Landscaped open spaces with event areas
• State-of-the-art health and fitness facility
• Party and special event rooms
• Billiards room and multi media theater room
• Controlled access to assigned garage parking
• Large garage accessed storage units available
Project Status
• SALES: FINAL SALE TOWER I AND II
• CONSTRUCTION: grading, excavation and underground utility work at the site
• RESERVATIONS START AT: $450k WITH AVERAGE PRICE AT $500 TO $520 PER SQUARE FOOT
• AGENT CO-OP: 3%
• DEPOSIT SCHEDULE: 15% DEPOSIT IMMEDIATE CONTRACT
• HOA FEES:Estimated at $0.37 per square foot/per month
Developer Bio
AmLand and B.S.R. Group have come to together to create their vision, with both International and Local reputations behind them.
B.S.R Group has nearly four decades of building and engineering experience in the international real estate market. B.S.R Group has a strong reputation for making large-scale real estate projects a reality. Their accomplishments include Waterfront Square in Philadelphia, the Icon Toyota Tower in Tel Aviv, and the Osiedle Europejskie in Krakow, Poland. B.S.R Group has entered the US market with plans to build high rises on an even grander scale.
Wayne Krygier and Chet Nichols of AmLand Development are established in the Las Vegas market after successfully pioneering urban condo living in the South Las Vegas Strip area with the development of Park Avenue. The success of this project has prompted expansion with additional buildings under construction. AmLand Development is also responsible for the Vila di Lago project at Lake Las Vegas, which was recognized by the National Association of Home Builders as the official New American Home Partnered, AmLand's expertise and local resources and B.S.R Group's engineering strengths and financial resources form a strong alliance. Added to the probable success of this project, is the phenomenal growth of the South Las Vegas Boulevard. area with residential, retail, commercial and casino projects underway and a projected population growth of over 37% over the next five years.
Project Description
The master plan calls for five 18- to 21-story private residential towers, 200-room boutique hotel and 200-unit condo-hotel to be operated by the same company, a 20,000-square-foot health club and spa, two restaurants and retail services.
ONE Las Vegas is designed with balance, creating a community that caters to the uniqueness of Las Vegas and the lifestyles of people who live here.
ONE Las Vegas, planned in one of the fastest growing areas in Las Vegas, is expected to provide its homeowners the luxury of living on the Las Vegas Strip while also offering the convenience of community services, shopping and the airport. Urban living with resort style pools, health and fitness club, and lush gardens, the ONE Las Vegas community is designed with luxury inside and out for balance in life.
Residents of ONE Las Vegas will enjoy spacious and sophisticated lifestyle condominiums in a superior location, featuring a wealth of luxury resort style amenities and contemporary designs.
Project Financing
$142 million first phase financing for One Las Vegas has been in place for weeks with Corus Bank of Chicag
• Bldg. Type: Condo/High Rise
• No. of Towers: 5
• No. of Stories: 18-20
• No. of Units: 961
• Unit Sizes: One, Two. And Three bedrooms
• Price Range: $275K -$1 million
• Square Footage: 831 sf -2857 sf
• Status: Pre Construction sales – Phase II
• Estimated Break Ground Date: Broke Ground APRIL 2006
• Estimated Completion Date: Phase I (TOWER I AND II) LATE 2007, Phase II (TOWER III) Early 2008, Final 2010
• Developer: AmLand Development B.S.R. Group
• Renderings: Click Here
• Official Website: http://www.one-lasvegas.com
Project Amenities
• On-site concierge service and valet service
• On-site maintenance personnel
• Two guard gated entrances with 24/7 attendants and roaming security
• Two pools with lush tropical landscaping, private cabanas and outdoor hot tubs
• Lighted tennis and basketball court
• half mile fitness trail perfect for walking or running
• Landscaped open spaces with event areas
• State-of-the-art health and fitness facility
• Party and special event rooms
• Billiards room and multi media theater room
• Controlled access to assigned garage parking
• Large garage accessed storage units available
Project Status
• SALES: FINAL SALE TOWER I AND II
• CONSTRUCTION: grading, excavation and underground utility work at the site
• RESERVATIONS START AT: $450k WITH AVERAGE PRICE AT $500 TO $520 PER SQUARE FOOT
• AGENT CO-OP: 3%
• DEPOSIT SCHEDULE: 15% DEPOSIT IMMEDIATE CONTRACT
• HOA FEES:Estimated at $0.37 per square foot/per month
Developer Bio
AmLand and B.S.R. Group have come to together to create their vision, with both International and Local reputations behind them.
B.S.R Group has nearly four decades of building and engineering experience in the international real estate market. B.S.R Group has a strong reputation for making large-scale real estate projects a reality. Their accomplishments include Waterfront Square in Philadelphia, the Icon Toyota Tower in Tel Aviv, and the Osiedle Europejskie in Krakow, Poland. B.S.R Group has entered the US market with plans to build high rises on an even grander scale.
Wayne Krygier and Chet Nichols of AmLand Development are established in the Las Vegas market after successfully pioneering urban condo living in the South Las Vegas Strip area with the development of Park Avenue. The success of this project has prompted expansion with additional buildings under construction. AmLand Development is also responsible for the Vila di Lago project at Lake Las Vegas, which was recognized by the National Association of Home Builders as the official New American Home Partnered, AmLand's expertise and local resources and B.S.R Group's engineering strengths and financial resources form a strong alliance. Added to the probable success of this project, is the phenomenal growth of the South Las Vegas Boulevard. area with residential, retail, commercial and casino projects underway and a projected population growth of over 37% over the next five years.
Project Description
The master plan calls for five 18- to 21-story private residential towers, 200-room boutique hotel and 200-unit condo-hotel to be operated by the same company, a 20,000-square-foot health club and spa, two restaurants and retail services.
ONE Las Vegas is designed with balance, creating a community that caters to the uniqueness of Las Vegas and the lifestyles of people who live here.
ONE Las Vegas, planned in one of the fastest growing areas in Las Vegas, is expected to provide its homeowners the luxury of living on the Las Vegas Strip while also offering the convenience of community services, shopping and the airport. Urban living with resort style pools, health and fitness club, and lush gardens, the ONE Las Vegas community is designed with luxury inside and out for balance in life.
Residents of ONE Las Vegas will enjoy spacious and sophisticated lifestyle condominiums in a superior location, featuring a wealth of luxury resort style amenities and contemporary designs.
Project Financing
$142 million first phase financing for One Las Vegas has been in place for weeks with Corus Bank of Chicag
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