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Santa Clause Rally?

Posted by Kenneth Lowman on November 18, 2010
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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 several in the $1 million to $2 million range (The Lakes Estates, Eagle Hills and Canyon Gate Country Club).  Normally the market would be slowing into the holidays.  Is this a post-election relief rally?  I’m really not sure, but I know that smart money that has been sitting on the sidelines is being deployed and finding smart buys today.  The number of well funded cash buyers that are purchasing speaks volumes about our luxury housing market and the belief that it will appreciate again.  I have the best luxury real estate team in Las Vegas and hard work always pays off, but personally, I’m happy that Christmas has come early this year!