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Category Archives: The Economy

Las Vegas Luxury Home Interest Rate Update

Jun 01, 2015
Mortgage interest rates remain low and make buying your luxury home in Las Vegas even more affordable!  Interest rates are expected to remain below 4% for the first half of 2015 and then begin to move ...
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Setting Records in Las Vegas Luxury Home Sal...

May 05, 2015
The NASDAQ stock index is over 5,000 again.  It set a record high on March 9, 2000 at 5,046.86.  Believe it or not, it has taken nearly 15 years for this market index to get back to its all time high. ...
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Luxury Homes of Las Vegas Goals

Jan 16, 2015
As we begin a new year at Luxury Homes of Las Vegas it is time to focus on our goals.  When I set my goals I always focus on providing the highest quality, quantity and spirit of luxury real estate se ...
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A PENNY FOR YOUR THOUGHTS

Dec 12, 2014
Luxury Homes of Las Vegas cost saving idea of the month.  Have you heard the rumblings about getting rid of the penny (or even the nickel)?  Seems as though there are plenty of people in both camps.  ...
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ARE MORTGAGES GETTING EASIER TO OBTAIN?

Oct 29, 2014
In typical business fashion mortgage companies went from passing out money to anyone that breathed in the mid-2000s to taking your first born and a pint of blood today.  The overreaction seems to have ...
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EXISTING HOME SALES REBOUND

Oct 23, 2014
After a modest decline last month the existing home sales numbers have bounced back to a 2.4% increase from August.  This pace remains 1.7% below last September.  The Chief Economist for the National ...
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STRATEGIES FOR PRICING YOUR LAS VEGAS LUXURY...

Aug 29, 2014
Sometimes asking less will get you more.  A recent luxury home seller played lowball.  He set his asking price below that of recent Las Vegas luxury home comparable sales – and he got six offers in fo ...
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The Ridges Real Estate Market Update

Jul 24, 2014
Located on the west side of Las Vegas and nestled against Red Rock Conservation Area, The Ridges Las Vegas is a guard gated Las Vegas luxury home  community that raises the bar for luxury home living ...
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Las Vegas Luxury Home Market Update

Feb 28, 2014
It feels like the year in Las Vegas luxury real estate has just started and yet two months have already passed us by! Here is a summary of selected Las Vegas luxury homes that have sold so far in 2014 ...
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Factors that Affect Selling a Luxury Home

Feb 25, 2014
Are you thinking about selling your luxury home in Las Vegas? Let’s discuss the major factors in selling a luxury home in Las Vegas. The three main factors are: 1. Location 2. Size 3. Amenities One of ...
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Luxury Home Auction Flops

Feb 01, 2014
Here is a great lesson in how NOT to sell a luxury home.  A luxury home needs to be exposed properly through target marketing to the right niche of qualified luxury home buyers.  An experienced, profe ...
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CRYSTAL BALL

Jan 06, 2014
It’s that time of year were we often look into the future and make some predictions for the new year.  2013 was certainly a good one for the recovery of real estate markets across the country.  I beli ...
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Best Year Ever for Luxury Homes Of Las Vegas

Dec 23, 2013
We have completed our best sales year ever in 2013!  I have been selling luxury homes for 25 years so this is a telling sign that our market has recovered.  Among our accomplishments:  $73 million in ...
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Is There A Magician In The House?

Nov 18, 2013
Realtors provide a valuable service selling luxury homes and helping their luxury home buyers find the right property.  A professional luxury home Broker knows the market, knows the inventory and know ...
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Unintended Consequences

Oct 28, 2013
The recent government shut down brought many unintended consequences, one of which was, a slowdown in the luxury home sales market.  The events played out in the media and the uncertainty of what woul ...
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8 OUT OF 10 BELIEVE IN BUYING

Aug 02, 2013
A National Association of Realtors survey shows that 80% of those surveyed believe that buying a home is a good financial decision.  This is up by 8 points from 2011.  Further, 49% believe prices in t ...
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First Quarter 2013 Million Dollar Home Sales...

Apr 03, 2013
We have had very strong luxury home sales in the first quarter of 2013 for Las Vegas and Henderson, Nevada.  There were a total of 54 luxury homes sold at or over $1 million in the first quarter of th ...
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Santa Claus Rally!

Dec 15, 2012
It’s the holiday season and luxury home sales are in high gear!  Normally a slower time of the year, we have been as busy as ever the past few weeks selling luxury homes in Las Vegas and luxury homes ...
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October Luxury Home Sales Report

Nov 05, 2012
There were nine luxury homes in Las Vegas and Henderson sold in October that were priced over $1,000,000.  This compares to twelve in October of 2011.  Just one of the nine luxury home sales were dist ...
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HOT AUGUST

Aug 15, 2012
The hot days of August are here in Las Vegas.  Last week I recorded 117 degrees on my thermometer!  Luxury homes in Las Vegas are heating up too.  With the month not yet half over I have recorded five ...
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Why Prices Are Rising

Jul 18, 2012
Finally, I get to talk about why prices are rising!  It has been many, many years since we’ve been able to enjoy rising prices.  Of course, this has started at the low end of the market; however, it d ...
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A World of Luxury

Jul 09, 2012
The world of luxury homes and estates continues to amaze and reach new heights.  The Versace mansion in Florida recently went on the market for $125 Million and is reported to be getting an incredible ...
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REAL ESTATE BIDDING WARS ARE BACK!

May 08, 2012
What?  That’s was so 2005.  But, yes, real estate bidding wars are back in Las Vegas!  The inventory of homes for sale without a contingent or pending contract has shrunk to an approximate one-month s ...
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Housing has found the bottom

Apr 20, 2012
The debate rages over whether housing has found the bottom. Of course, the debate will continue because markets are localized and segmented by price ranges and neighborhoods. While existing home sales ...
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Predictions for 2012

Jan 09, 2012
Happy New Year and may 2012 be your best year ever!  The Las Vegas luxury home market continued to add to its decline in 2011.  We had pricing pressure in the luxury home market throughout Las Vegas a ...
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The Agonizingly Slow Recovery

Dec 08, 2011
The patient is the Las Vegas luxury real estate market.  The patient is very sick.  But, at least the patient is not getting worse.  In fact, he’s getting better.  But, getting better is a long ...
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Saving to Invest in Homes Again

Oct 28, 2011
Since the financial crisis of 2008 Americans are socking away some $600 billion in annual savings a year!  Many Americans are deleveraging, downsizing and living a more financially cautious lifestyle. ...
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Home Prices Critical to Small Business Jobs

Aug 26, 2011
Small businesses account for most of the new job creation in America.  What do small businesses need to expand and hire?  Credit and access to capital.  Yet most lenders today are not lending to small ...
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9 of 10 Americans value home ownership

Jul 15, 2011
Americans still view home ownership as the American Dream. With nearly 25% of home owners at the present time owing more on their homes than they are worth, 9 of 10 Americans polled still see the valu ...
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Luxury home sales still happening in Las Veg...

Jun 07, 2011
The headlines and stories are all doom and gloom.  Despite all this, luxury home sales in Las Vegas are still happening every day!  In May, there were 8 closed sales on homes over one million dollars. ...
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Wealthy Unhappy

Mar 27, 2011
A recent survey of wealthy Americans with assets over $1 million found that the majority were unhappy with their financial situation and did not feel wealthy. The survey found that it would take $7.5 ...
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Las Vegas Luxury Market Statistics

Mar 11, 2011
Spring is upon us in Las Vegas!  75 degrees, how very nice.  In January we had nine luxury home sales close for over $1,000,000.  In February, we had 11 luxury home sales close for over $1,000,000.  B ...
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Luxury Real Estate Improving

Jan 31, 2011
I recently returned from a Vail, CO ski trip and the local media reported that the sale of luxury real estate there was up over last year.  Luxury sales were nowhere near there 2007 or 2008 high, but ...
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Reasons it still pays to buy a home

Jan 09, 2011
The past few years has brought many negative real estate articles and even so called experts that say it is no longer wise to own real estate.  All these negative articles usually signala market botto ...
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2011 A New Year!

Jan 03, 2011
Happy New Year to all our clients, friends, past customers and blog readers!  2010 certainly brought challenges to the luxury real estate market in Las Vegas and 2011 will continue to bring an environ ...
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Santa Clause Rally?

Nov 18, 2010
Since the election November 2, 2010 we have been extremely busy selling luxury homes here in Las Vegas.  We have sold two luxury estates over $4 million (one in The Ridges and one in Summerlin) and se ...
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3rd Quarter 2010 Luxury Market Report

Oct 26, 2010
Luxury Homes of Las Vegas just released their 3rd quarter luxury real estate market report.  Luxury homes selling at or above one million dollars were down by 14% over the same period last year.  Luxu ...
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When will appraisers get it right?

Sep 10, 2010
In the past three months I have sold five properties where the appraisal has not come in at the agreed upon sales price.  Thus far, we have managed to close four of them by getting the buyer to agree ...
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In Support of Homeownership

Aug 30, 2010
The cover story in Time Magazine is “Rethinking Homeownership.”  The story includes many of the pitfalls of homeownership with the largest being lack of mobility.  With this exception, muc ...
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Summer sales are sizzling

Aug 18, 2010
Temperatures are hot here in Las Vegas, but it’s not stopping the luxury home buyers.  In the past week I’ve sold five luxury home listings here in Las Vegas.  See my featured listings for more choice ...
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Go with the Expert

Jul 28, 2010
Ultra luxury homes are still selling and in Las Vegas YTD (as of 7/17/10) there have been 12 total sales in the Greater Las Vegas Association of Realtors Multiple Listing Service. Some of the common a ...
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Luxury Home Foreclosure Jet Tour Huge Succes...

Apr 12, 2010
Luxury Homes of Las Vegas and JetSuite Air are jointly hosting a complimentary “Luxury Home Foreclosure Private Jet Tour”  leaving from Los Angeles to tour three stunning, bank-owned, luxu ...
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Hard Work Really Does Payoff!

Feb 26, 2010
Greetings Luxury Homeowners and Buyers, Most of you know by now that real estate prices have declined nationally and now even the luxury market is not immune. The good news is that reduced prices have ...
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Business Networking Works if You Do

Jan 15, 2010
Last night I attended and sponsored a VIP Hangar Party with sponsorship by private jet companies, luxury auto dealers and various other luxury related companies.  Over 200 people gathered to look at t ...
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Santa Clause Rally

Dec 24, 2009
Luxury Homes of Las Vegas is ending the year with a bang. November was one of the busiest closing months of 2009 and in December I have sold homes listed for $3,999,000, $3,499,000, $1,499,900 and $70 ...
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Create Some Jobs Please!

Oct 20, 2009
I just read an article about Steve Wynn’s comments and criticisms on the Obama administration. His most important point is similar to my July 13, 2009 blog comment in which I stated, “We need the gove ...
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Las Vegas Luxury Real Estate

Oct 06, 2009
The Las Vegas luxury real estate market has some positive signs and some negative signs presently.  The good news is that sales are happening.  In fact, I just sold another The Ridges estate that was ...
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Will the Stimulus save Real Estate?

Jul 13, 2009
As reported by the Wall Street Journal, the luxury wine market is in a slump as even wealthy drinkers slash spending on fine wines. The slump comes even as Americans continue to drink more wine overal ...
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Jump-Starting the Economy

Jun 17, 2009
This great idea came from the CEO of Realty Trac, James Saccacio. The problem with most all of the stimulus programs is that they are helping out the 2% of borrowers that got in trouble and can’t affo ...
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May Luxury Sales Up!

Jun 03, 2009
May brought more activity in the luxury sales market and it was really needed! April statistics show just 12 homes selling over $1,000,000 in the entire marketplace. May had 16, a 33% improvement. Of ...
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Why Reduced Home Construction is Good for Re...

Feb 09, 2009
Home construction is at a 50 year low with both permits and starts plunging to levels not seen since 1959. The recent drop off in permits suggests that further declines are ahead. Meanwhile, home-buil ...
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