Las Vegas Real Estate News |  |
- Distressed Properties to Be Revived by Las Vegas Investor
- Muhammad Ali's childhood home sold to Las Vegas investor
- Zillow offers free suite of tools to rental managers
- This week...Las Vegas Real Estate - Zillow Real Estate Advice
- Las Vegas,NV.Desert Shores. 89128 House Prices UP 21.3%.FREE <b>...</b>
- Las Vegas home prices increase for eighth straight month <b>...</b>
- Office Buildings of Summerlin Sold in Colossal Deal
- CoreLogic: Shadow inventory down 10.2 percent
- Study to gauge impact of 'green' features on home values
- Sublime NYC townhouse with river views: $48.8M
- Google exec named to Move Inc. board
- 1024 E Emma Street Sold | Travis Bell and Robbie <b>Henderson Real</b> <b>...</b>
- 15023 Rocky Ledge Dr Sold | Travis Bell and Robbie <b>Henderson</b> <b>...</b>
| Distressed Properties to Be Revived by Las Vegas Investor Posted: 10 Oct 2012 01:46 AM PDT Michael Shustek, a Las Vegas real estate investor is willing to bet a whooping $550 million on some of the country's hardest hit areas saying he'll be able to profit off them. MVP REIT, Shustek's investment fund plans on raising from investors the $550 million amount to be able to purchase commercial properties and mortgage loans in the areas of inland California, Arizona, and Nevada. The fund was launched last April and this week Shustek was cleared by US Securities & Exchange Commission to begin selling shares. It is predicted that the Southwest real estate will not be able to fully recover soon. Because of this slow recovery, prices of the region's foreclosed, bankrupt, and distressed properties remain low. Some are undervalued, making it difficult for borrowers to have the projects financed even with the property's excellent quality and the borrower's good financial strength. These similar problems opened unique opportunities for individuals who are thinking of investing in such market. MVP believes that these opportunities can offer significant growth in the long run. Shustek has worked in Nevada's real estate market since 1990. He is the CEO and founder of Vestin Mortgage, which is based in Las Vegas. Vestin Mortgage invests in loans backed by real estate. The firm is in charge of managing two real estate investment trusts that are publicly-traded and an investment fund, with $135 million in total assets. Shustek co-authored the books "If I Can Do It, So Can You" and "Trust Deed Investments" and also guest lectures at UNLV. He also taught the real estate law & ethics course at UNLV. SEC investigated Vestin Mortgage's various affiliates and funds. The inquiry was closed last September 2006 with issue of administrative order. SEC indicated that the firm violated the securities law in relation with the slideshow presentation prepared for investors. Shustek neither admitted nor denied the wrongdoing but accepted the order. He settled the fine amounting to $100,000 and agreed not to associate with dealers or brokers for 6 months. The SEC order expired last March 2007. Shustek's MVP REIT could experience substantial gains by purchasing cheap property, which could rebound later value-wise. However, real estate could recover at a slow pace and most of the firm's borrowers are most likely those who are unwilling or unable to apply for credit from traditional banks. The firm's managers might misjudge the property value or the reliability of the borrower. MVP REIT indicates that the firm's strategy comes with significant risk. |
| Muhammad Ali's childhood home sold to Las Vegas investor Posted: 11 Sep 2012 08:45 AM PDT A Las Vegas real-estate investor and longtime admirer of Muhammad Ali has purchased the three-time heavyweight boxing champion's childhood home in western Louisville and plans to restore it as a museum or for some other charitable or public use. |
| Zillow offers free suite of tools to rental managers Posted: 09 Oct 2012 09:01 PM PDT |
| This week...Las Vegas Real Estate - Zillow Real Estate Advice Posted: 08 Sep 2012 10:19 AM PDT Boulder City real estate · Henderson real estate · Jean real estate · Las Vegas real estate · Laughlin real estate · Logandale real estate · Mesquite real estate · Nellis AFB real estate · North Las Vegas real estate · Overton real ... |
| Las Vegas,NV.Desert Shores. 89128 House Prices UP 21.3%.FREE <b>...</b> Posted: 09 Oct 2012 09:54 AM PDT DONE. Las Vegas Real Estate Foreclosure. Homes for Sale Free List Daily. David Cooper 702-499-7037. DAVID COOPER. By DAVID COOPER | Landlord in Las Vegas, NV. /profile/LASVEGASWINNER/. Las Vegas,NV. |
| Las Vegas home prices increase for eighth straight month <b>...</b> Posted: 09 Oct 2012 06:15 AM PDT The Las Vegas real estate market saw a record number of short sales in September, as homeowners try and take advantage of the foreclosure alternative before the Mortgage Debt Relief Act expires. This was created to allow ... |
| Office Buildings of Summerlin Sold in Colossal Deal Posted: 09 Oct 2012 12:46 PM PDT Thirty-two office buildings portfolio of General Growth Properties were sold out, which is considered as Las Vegas' biggest deal in real estate over the years. Summerlin's portfolio of 1.1 million sq. ft. building was bought by Oaktree Capital Management LP and Hines Interests Limited Partnership. This was confirmed on Tuesday by Kim Jagger, the spokeswoman of Hines. However she refused to give details on the price. On September 11, The Sun reported that Hines, which is a real-estate company based in Houston was partnering with Oaktree, a global investment company based in Los Angeles to purchase the properties. The brokers shared that these big companies are paying $127 million ($115/square foot) even though many cautioned that the property's sale price might be lesser than the announced amount. As of this Tuesday, Clark Country does not have any record of the sale yet. During Hines' press release last Tuesday, the company stated that the acquisition was done through partnership with Oaktree managing the subsidiary of the real estate funds. Hines also stated that the deal has been their sixth transaction in more than two years. Doug Metzler, the Managing Director of Hines said that their company will work on bringing back the portfolio to its previous market standing. It was announced that half of the 32 buildings remain vacant and that whether Oaktree and Hines can fill them or how they will be able to fill them is still unclear. The building's location, Northwest Valley had 26 percent office vacancy in six months, which is higher compared to Southern Nevada's vacancy rate of 24 percent. But the sale can raise the commercial real estate of the valley partly due to the local market entry of Hines. The company has countless commercial properties around the globe and offices in 18 different countries. Hines has assets of almost $23 billion and buildings in China, Brazil, United States, and other countries except in Nevada. With the deal, General Growth, which had been bankrupt before can now focus more on its shopping mall business. About 149 malls in different regions are owned or co-owned by this company based in Chicago. Grand Canal Shoppes and Fashion Show Mall are some of their malls. This recent sale is among the biggest commercial real estate deals for the past few years and competes with building sales in mid 2000s in the southwest of Las Vegas. s The complex (400,000 sq. feet) was bought at $120 million or over $300/square foot during the time when building sales were booming. The office buildings of General Growth are mostly in West Charleston Boulevard, Covington Cross Drive, and North Town Center Drive. Hines stated that the portfolio also has 2 parcels being developed, which totals to 19 acres. |
| CoreLogic: Shadow inventory down 10.2 percent Posted: 09 Oct 2012 10:13 AM PDT |
| Study to gauge impact of 'green' features on home values Posted: 09 Oct 2012 10:45 AM PDT |
| Sublime NYC townhouse with river views: $48.8M Posted: 09 Oct 2012 11:02 AM PDT |
| Google exec named to Move Inc. board Posted: 09 Oct 2012 10:13 AM PDT |
| 1024 E Emma Street Sold | Travis Bell and Robbie <b>Henderson Real</b> <b>...</b> Posted: 01 Oct 2012 09:41 AM PDT Copyright © 2012 Travis Bell and Robbie Henderson Real Estate at Keller Williams - All Rights Reserved Powered by Wordpress & Netfirms. Copy Protected by Tech Tips's CopyProtect Wordpress Blogs. Powered by Netfirms ... |
| 15023 Rocky Ledge Dr Sold | Travis Bell and Robbie <b>Henderson</b> <b>...</b> Posted: 01 Oct 2012 09:35 AM PDT ... South Shore: Apollo Beach · Plant HS District · Waterfront; About Us. About Bell Henderson Real Estate · Bell Henderson Real Estate Bios · About Keller Williams. 813.931.5000. Info@BellHenderson.com. Posts · Comments ... |
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