Saturday, May 26, 2012

Las Vegas Real Estate News

Las Vegas Real Estate News

Link to Las Vegas Real Estate News

Hit-and-run wall accident not condo owner's fault

Posted: 26 May 2012 02:03 AM PDT

Q: I enjoy your column. I am condo owner, and apparently someone visited me when I was not at home. He were driving a camper and, when backing up, hit the side of the building and caused stucco damage. One of the homeowners association board members saw this, and the board send me a certified letter, indicating that I am responsible for the damage since they were visiting me. I do not even know who it was. They have the plate number of the camper. Am I responsible?

Short sales prohibit sellers from being tenants

Posted: 26 May 2012 02:03 AM PDT

Q: I'm in the market to buy a new investment property in Las Vegas. I'd like to buy a home with a tenant already living in the home, but I've heard from others who have purchased short sale homes that current homeowners are not allowed to stay in the home and lease the property. Can you please advise me?

Resale Homes Report: Existing homes sold: May 9-15

Posted: 26 May 2012 02:03 AM PDT

Editor's note: Listings include the resale home's parcel number. Occasionally, the address listed is the homebuyer's mailing address and not the actual location of the home. Check the parcel number to make sure. Also, a few transactions do not reflect the market value of the homes.

Summerlin Moves it Outside This Spring

Posted: 26 May 2012 02:03 AM PDT

Couple find retirement in Mira Villa

Posted: 26 May 2012 02:03 AM PDT

A longtime Las Vegas-area couple, Pete and Karla, unknowingly toured their future home in March. They weren't looking to move or seeking a new home, but rather were simply exploring a new condominium development. However, they quickly decided to move from their family home of 16 years to embark upon a new chapter in their lives living at Mira Villa, the luxury condominium community in Summerlin.

Woodside offers lake homes at Villa Palermo

Posted: 26 May 2012 02:03 AM PDT

Woodside Homes is offering homes in Villa Palermo, a neighborhood of single-family homes at Lake Las Vegas, for prices starting in the mid-$200,000s.

Warmington debuts redesigned floor plans at Northern Terrace

Posted: 26 May 2012 02:03 AM PDT

Northern Terrace in Providence provides homes priced to compete with resale homes, according to Amy Thill, vice president of sales and marketing for Warmington Residential Nevada. In addition, the homes, which have recently been redesigned, will have energy-efficient features. The floor plans call for great rooms, as many as six bedrooms and options for lower-level bedrooms, three-car garages and covered patios.

Lennar builds two new projects

Posted: 26 May 2012 02:03 AM PDT

Lennar has broken ground on two new-home communities in the Las Vegas Valley.

Pardee helps charity

Posted: 26 May 2012 02:02 AM PDT

Today kicks off the start of the final week of Project Playhouse, which features six one-of-a-kind pet and people playhouses on display in a fundraiser to benefit HomeAid Southern Nevada. Pardee Homes once again has a big role in the event with its Dream A Little Dream custom playhouse and matching Dug's Dog House pet house.

MULTI FAMILY VACANCY RATES FALL - RENTS RISE / LAS VEGAS DISTRESSED MULTI FAMILY APARTMENT COMPLEXES - CONDOS - MOTEL FORECLOSU

Posted: 25 May 2012 08:53 PM PDT

Commercial Real Estate Improves, Multifamily Strong

Daily Real Estate News | Friday, May 25, 2012

Shaking off a prolonged impact from the recession, fundamentals are gradually improving in all of the major commercial real estate sectors, according to the National Association of REALTORS® quarterly commercial real estate forecast.  The apartment rental sector has fully recovered and is growing.

The findings also are confirmed in NAR's recent quarterly Commercial Real Estate Market Survey, which collects data from members about market activity.

Lawrence Yun, NAR chief economist, said new jobs are the key.  "Ongoing job creation, which is at a higher level this year, is fueling an underlying demand for commercial real estate space, assisted by a steady increase in consumer spending," he said.  "The pattern shows gradually declining commercial vacancy rates, with consequential but generally modest rent growth."

Yun expects the economy to add 2 to 2.5 million jobs both this year and in 2013, on the heels of 1.7 million new jobs in 2011, assuming a new federal budget is passed before the end of the year.  "Although we need even stronger job growth, by far the greatest impact of job creation is in multifamily housing, where newly formed households striking out on their own have increased demand for apartment rentals – this is the sector with the lowest vacancy rates and strongest rent growth, which is attracting many investors."

Rising apartment rents also are having a positive impact on home sales because many long-time renters now view homeownership as a better long-term option, Yun noted.

A large problem remains for purchases of commercial property priced under $2.5 million.  "Our recent commercial lending survey shows that there is very little capital available for small business, which is significantly impacting commercial real estate transactions, although funding is less restrictive for bigger properties."

NAR's latest Commercial Real Estate Outlook offers projections for four major commercial sectors and analyzes quarterly data in the office, industrial, retail and multifamily markets.  Historic data for metro areas were provided by REIS, Inc., a source of commercial real estate performance information.

Office Markets

Vacancy rates in the office sector are projected to fall from 16.3 percent in the second quarter of this year to 16.0 percent in the second quarter of 2013. 

The markets with the lowest office vacancy rates:

  • Washington, D.C.: 9.3% vacancy rate
  • New York City: 10%
  • New Orleans: 12.6%

Office rents should increase 2.0 percent this year and 2.5 percent in 2013.  Net absorption of office space in the U.S., which includes the leasing of new space coming on the market as well as space in existing properties, is forecast at 24.7 million square feet in 2012 and 48.0 million next year.

Industrial Markets 

Industrial vacancy rates are likely to decline from 11.0 percent in the current quarter to 10.7 percent in the second quarter of 2013.

The areas with the lowest industrial vacancy rates:

  • Orange County, Calif.: 4.7% vacancy rate
  • Los Angeles: 5%
  • Miami: 7.2%

Annual industrial rent is expected to rise 1.6 percent in 2012 and 2.4 percent next year.  Net absorption of industrial space nationally is seen at 44.1 million square feet this year and 62.4 million in 2013.

Retail Markets

Retail vacancy rates are forecast to decline from 11.3 percent in the second quarter to 10.7 percent in the second quarter of 2013.

Presently, markets with the lowest retail vacancy rates:

  • San Francisco: 3.7% vacancy rate
  • Fairfield County, Conn.: 4%
  • Long Island, N.Y.: 5%

Average retail rent should rise 0.8 percent this year and 1.3 percent in 2013.  Net absorption of retail space is projected at 8.0 million square feet this year and 21.9 million in 2013.

Multifamily Markets

The apartment rental market – multifamily housing – is likely to see vacancy rates drop from 4.5 percent in the second quarter to 4.3 percent in the second quarter of 2013; apartment vacancy rates below 5 percent generally are considered a landlord's market with demand justifying higher rents.

Areas with the lowest multifamily vacancy rates:

  • New York City: 2.1%
  • Portland, Ore.: 2.3%
  • Minneapolis: 2.4%

After rising 2.2 percent last year, average apartment rent is expected to increase 4.0 percent in 2012 and another 4.1 percent next year.  "Such a rent increase will raise the core consumer inflation rate.  The Federal Reserve, in turn, may be forced to raise interest rates, possibly as early as late 2013."

Multifamily net absorption is forecast at 215,900 units this year and 230,300 in 2013.

The Commercial Real Estate Outlookis published by the NAR Research Division for the commercial community.  NAR's Commercial Division, formed in 1990, provides targeted products and services to meet the needs of the commercial market and constituency within NAR. The NAR commercial components include commercial members; commercial committees, subcommittees and forums; commercial real estate boards and structures; and the NAR commercial affiliate organizations – CCIM Institute, Institute of Real Estate Management, REALTORS® Land Institute, Society of Industrial and Office REALTORS®, and Counselors of Real Estate. Approximately 78,000 NAR and institute affiliate members specialize in commercial brokerage and related services, and an additional 232,000 members offer commercial real estate services as a secondary business.

Source: NAR

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Commercial Real Estate Follows Economy Into Recovery

<b>Henderson Real Estate</b> at MacDonald Highlands for Sale <b>...</b>

Posted: 24 May 2012 08:33 AM PDT

The homes at MacDonald Highlands, situated in the beautiful suburban city of Henderson, Nevada, are where dreams of family and community are fulfilled. Served by four major highways and located just a few minutes away from McCarran ...

Nevada Realtors Speak up

Posted: 25 May 2012 11:52 AM PDT

More than 50 Nevadans joined thousands for the first REALTOR® Rally at the Washington Monument in Washington, DC last week. The gathering was to let members of Congress know that Home Ownership Matters -to people, to communities and to America. NAR President Moe Veissi called the REALTOR® crowd the "architects of the American Dream".

Lake <b>Las Vegas Real Estate</b> Listings Now Available via LREP <b>...</b>

Posted: 25 May 2012 09:36 AM PDT

Las Vegas, NV (PRWEB) May 23, 2012 Lake Las Vegas Real Estate Listings Now Available via LREP Mobile and MyLvHomeSales.com Luxury Real Estate Partners.

Las Vegas–RHODES RANCH-Guard gated Golf Course – See the <b>...</b>

Posted: 24 May 2012 11:42 PM PDT

Just make people happy with Las Vegas Real Estate. When I'm not doing that, I'm most like ballroom dancing! :). View all posts by lvrealestatelady →. This entry was posted in Uncategorized and tagged las vegas homes ...

Do think the price differential between Inspiration Townhomes in Green Valley Ranch vs Resorts Villas in Green Valley North is justified?

Posted: 25 May 2012 12:52 PM PDT

Tax mistake? Don't panic, amend!

Posted: 25 May 2012 12:45 PM PDT

Real Estate Tax Talk

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Marin County, Calif., home a redwood wonder

Posted: 25 May 2012 07:58 AM PDT

From Realtor.com's 'House Unique'

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If we're not careful, we could be Europe

Posted: 25 May 2012 11:33 AM PDT

Commentary: Important stuff is going on in the world, but Facebook rules all

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Brokerages may be off the hook in flat-fee lawsuits

Posted: 25 May 2012 10:50 AM PDT

Supreme Court rules no RESPA violation if fees aren't split

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Lake Las Vegas Luxury Homes - What's At Stake?

Posted: 25 May 2012 09:54 AM PDT

The Real Estate of Lake Las Vegas provides such a wide range of residences.Las Vegas Luxury Homes can be from custom Home sites to waterfront residences. There are fairway Homes as well as golf villa condominiums. All of these Lake Las Vegas Luxury Homes plus the townhouses consist of unique and wonderful views. Life in Lake Las Vegas is unmatched and gives its residents an opportunity to choose between staying in one of the resorts for long-term or visit the place whenever they please. Whichever choice these residents pick, they are entitled to the services as well as the amenities while they make the best out of the great things about Las Vegas.

The community in Lake Las Vegas takes pride of its 10-mile shoreline situated around the state of Nevada's biggest private-owned lake. The fascinating lake is surrounded by sophisticated amenities with elegantly-designed landscaping. This upscale residential community holds a resort atmosphere while focusing on the privacy as well as the serenity of the residents.

Lake Las Vegas Luxury Homesgive you the advantage of the many amenities in the community. It includes gold courses, relaxing spa parlors, world-class hotels along with additional recreational facilities and indoor plus outdoor activities. Boutiques in the MonteLago Village offer an overlooking view of the lake. Furthermore, the community presents homes with the following features:

Lake Las Vegas owns nineteen different neighborhoods, with each offering fabulous lifestyles. It is considered as among the leading residential locations in Las Vegas. It is literally an oasis of luxurious lakeside living.

This community was created in the 80's with a vision coming from its developer Ronald F. Boeddeker of a lake situated in the heart of the desert; together with this vision, are the people enjoying the chance to live extravagantly with an Italian or European touch. For the past 20 years that this community has been developed, its residents are now taking delight in 4 golf courses and 1000 Lake Las Vegas Luxury Homes, making it an ideal community find a comfortable home to live. The project continues of the community with a goal of 9000 total homes in approximately 5 more years of expansion.

Lake Las Vegas community is a home of fantastic attractions. Shops, restaurants, shows and an elegant lake have attracted both locals and visitors. In fact, celebrities and many well-off residents have picked Lake Las Vegas homes as their permanent place to live.

Click here to speak to one of Las Vegas Luxury Homes Specialists or call 702-588-5858.

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