“Roots Homes” Helps Las Vegas Residents Achieve Dream of Home Ownership

LAS VEGAS, NV – Roots Homes is a Las Vegas-based startup that is helping residents of the city to achieve the dream of buying a home via a process known as “fractional homeownership,”  

Fractional ownership in real estate is when individuals own a percentage of a property and share usage rights. Fractional ownership splits the cost of an expensive purchase among several people, and Roots Homes feels that this method can be helpful to millennials and Gen Z individuals who may be facing an uphill battle saving up the funds needed for a down payment. 

Roots co-founder Lauren Self noted that their first client moved into a home in November, and that their tenth client is set to move into their home this week. 

“Our primary purpose is to help people access the largest wealth-building tool that Americans have access to in their whole entire lives, which is homeownership,” she said. 

Self said that she hopes that fractional homeownership – as opposed to other alternative means of acquiring a home, such as rent-to-own – will put more Southern Nevada residents in the path to owning their own homes by allowing them to move from being a tenant to being an actual property owner, a plan that Las Vegas Realtors President Lee Barrett said is “really creative.” 

“It’s not a new concept,” Barrett said. “But it’s a really interesting concept on how it’s broken it down. So I think it’s a good idea.” 

How it works is simple- Roots clients sign a lease for 12 months for a Roots-owned home, during which their monthly payments cover all expenses while ten percent of those payments is set aside toward building equity in the home. No down payment is required. 

However, if a client wants to pay more each month in order to build equity faster, they have that option as well, and at any point during the lease, they have the ability to purchase the home from Roots outright if they are able to.

Roots clients need to have a credit score of over 600 and a monthly income that is three times the monthly rent. 

Fractional ownership offers financial flexibility to individuals looking to buy a home and allows them to live in the house for a year or two to make sure they truly like it before they buy it. 

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – The Las Vegas Strip will be getting a interesting new entertainment option soon, as The Bottled Blonde chain of pizzerias and beer gardens has announced they will be building a lavish $50 million nightclub upon the famed boulevard in the fourth quarter of 2024, the franchise’s first foray into Southern Nevada.

The Bottled Blonde Las Vegas will be situated within a 25,000 square-foot standalone building in the Grand Bazaar Shops, next to Horseshoe Las Vegas, and will be comprised of three floors with an open-air rooftop lounge that will offer unobstructed views of the Bellagio fountains.

Several existing buildings on the Strip will be destroyed to make way for The Bottled Blonde’s construction.

The Bottled Blonde – owned by Arizona-based Evening Entertainment Group – currently has 25 bars and restaurants across the country – including in Dallas, Houston, Ft. Worth, and Miami – with media outlets referring to the franchise as “highest-grossing standalone bar in Texas.”

A location is also currently under development in Nashville.

The Bottled Blonde offers a plethora of menu options such as chicken wings, salads, and pizzas, but the main draw of the establishment is its late-night club atmosphere.

The Bottled Blonde Las Vegas is currently being developed by Evening Entertainment Group and Creation, a Phoenix-based real estate development and investment firm; according to Evening Entertainment Group co-owner Les Corieri, bringing the chain to Las Vegas has been in the cards for some time now.

“This project has been a long time coming, and we couldn’t be more excited to bring the Bottled Blonde experience front and center to the Las Vegas Strip,” he said, adding that the establishment will stand out from the other fare on the Strip because of its prominent location on the corner of Las Vegas Boulevard and Flamingo Road.

“Our visibility is much better than most people,” he said.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – The luxury real estate market in Southern Nevada recorded its top transaction in January when Mark Davis, owner of the Las Vegas Raiders NFL team, sold his Summit Club condominium for an impressive $10.5 million.

Davis’ condo was built in 2021 and comes in at 2,662 square feet in size, with two bedrooms and three baths; reports say that he sold the dwelling in order to live full-time in his upcoming $14 million home at 77 Sunset Strip in the Henderson hillsides of Ascaya.

Previously, Davis has purchased a 1.21-acre lot in Summit Club for $8.5 million in 2017, but instead of building a home as was his original intention, he instead sold the lot for $10.5 million in July 2020, stating at the time that he had changed his mind because – part-way through the design process – he realized he would be unable to see the Raiders’ Allegiant Stadium, which was “starting to drive me crazy,” Davis said.

The Ascaya residence is currently under construction by luxury builder Blue Heron on a 6.3-acre plot of land that Davis purchased for $6 million.

Overall, 75 homes in Las Vegas and its surrounding areas worth at least $1 million or more sold in January; this eclipses the 71 sales the luxury market saw in November and 67 in December, but still a far cry from the eye-opening 122 closings in January 2022 and 86 closings in January 2021.

In addition, January saw five sales of properties that were valued at $5 million or more; Davis had originally listed his condo for $13.5 million after having paid $5.3 million for it in March 2021.

Coming in second for January’s luxury sales after Davis’ condo is a home on Flying Cloud Lane in Azure at The Ridges in Summerlin for $8.2 million; the 9,930 square-foot residence features five bedrooms and a five-car garage.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – The results of a new study have indicated that Las Vegas is in the top five “dream cities” in the United States that people moved to in 2022, cementing the fact that Southern Nevada has become a highly desirable location for people to relocate to for a number of reasons, including cost of living and a thriving job market. 

Home Bay, a real estate website, polled 1,000 Americans as to what they would consider to be the ideal city to move to based on several different factors, and Las Vegas was listed as number four out of the top five locales people would be all too happy to uproot themselves in favor of. 

The poll indicated that if money was not a factor, 15 percent of those polled would rather move to Las Vegas than continue residing in their current location. 

The top five “dream cities” that Americans would like to relocate to are as follows:  

• Los Angeles, CA — 19 percent 
• Atlanta, GA — 18 percent 
• Austin, TX — 17 percent 
• Las Vegas, NV — 15 percent 
• Miami, FL — 15 percent 

Los Angeles, Atlanta, Austin, Las Vegas, and Miami are still the hottest tickets in the country,” the report states. “This is based on survey data from 1,000 Americans who said they’d move to these cities first if money were no object. Although these are already major metros, they’re all experiencing growth in their populations.” 

Las Vegas has a plethora of reasons for being a “dream city” to relocate to, including an affordable cost of loving, a booming local economy, an exciting downtown, a competitive real estate market, and a thriving job market, with scores of businesses moving to the city in recent years to take advantage of its “business friendly” tax structure. 

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – After months and months of skyrocketing rent increases that drove very real affordability concerns, the rental market in Las Vegas has finally begun to show signs of stabilizing in a positive manner.

While units are still being leased at a healthy rate in Vegas and landlords are still purchasing buildings and developers are constructing new projects, rent increases have been dialed back and tenants have even begun to negotiate rental rates once again, a tactic that was pretty much nonexistent for the past couple of years, experts say.

Whereas rent hikes of anywhere from $200 to $1,000 were the norm during the pandemic, increases as of late appear to be “on hold.” At the end of 2022, the average monthly rent for a Southern Nevada apartment was $1,422, a decrease of just one percent year-over-year; in contrast, rents in Vegas jumped a whopping 22 percent in 2021.

This echoes the real estate situation throughout the United States, which overall reported three months in a row where rents either held steady or even decreased, indicating that there is some degree of breathing room in the market these days.

In addition, with the national economy currently in rough shape – along with a looming recession – people have been leery about the idea of moving, resulting in more rental units sitting empty for longer periods of time. For example, in early 2022 Las Vegas rental properties would last on the market no more than 14 days; today, that average is closer to 30 to 45 days.

The rental market in Las Vegas exploded during the pandemic as tenants – including an influx of new residents to the city – looked for more space amid widespread work-from-home arrangements. Investors sat up and took notice, purchasing 199 apartment complexes in Southern Nevada in 2021, and twice the number in 2020.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – After months of record-breaking increases, the red-hot housing market in Las Vegas began to slow down in late 2022, and according to newly-released figures, that trend is continuing into 2023, with home prices holding steady so far in the New Year.

In January, the median sales price of previously owned single-family homes in Las Vegas was $425,000, holding at the exact same price they were in December 2022 and representing a 2.3 percent drop overall year-over-year.

In January, 1,325 homes were sold in Vegas, which is a decrease of 13.6 percent from December 2022 and 48.3 percent from January 2022, respectively.

In addition, the inventory of available homes has also swelled in Vegas, with a total of 5,450 houses on the market without offers at the end of January; this is a drop of 12.3 percent from December but an increase of 199.3 percent – yes, you read that correctly – from the end of January 2022.

One of the main reasons for the real estate slowdown in Vegas is one that it shares with the rest of the country: mortgage rates, which have increased as of late due to the Federal Reserve raising interest rates several times last year in order to combat rising inflation.

After a significant period of time during the COVID-19 pandemic where the Las Vegas real estate market was on fire – with ever-increasing prices and low inventory being the norm – experts such as Las Vegas Realtors President Lee Barrett have correctly predicted that the market would stabilize as national inflation and mortgage rates have increased.

With higher borrowing costs buyers have pulled back, but lowering mortgage rates as of late may yet spark home sales once again.

“What a difference a year makes,” Barrett said. “After seeing mortgage rates rise for several months, rates settled down recently. We’re still seeing more homes listed for sale and fewer people buying — especially when you compare what’s happening now to where we were a year ago.”

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – If you’re looking for a unique residence in Las Vegas – a city already renowned for its eye-catching, one-of-a-kind homes and businesses – and you have the funds to spare, then you might want to look into a mansion on sale in the gated community known as The Ridges that features a cobblestone Italian street complete with faux storefronts, making even a “staycation” feel like you’re strolling the streets of Europe.

The owners of the six-bedroom mansion, Lara and David Stone, spared no expense to create a stunning replica of an Italian street in the backyard of their home, located on a 0.6-acre plot of land and currently on the market for a whopping $6.5 million.

Built by the Stones in 2011, the 9,771 square-foot home has a lightwell in its basement that is located under the backyard, and in an effort to spruce it up in an unusual way, the couple took a suggestion from Lara’s mother to build a European street scene around it. With the Stones having visited Italy multiple times, it seemed only natural to use it as inspiration, they said.

The result is an ultra-realistic replica of an Italian street – “Via Di Pietra” which translates to “Stone Street” – complete with cobblestone floors, fake storefronts with windows and doors, and quaint little cafe tables. The storefronts, while fake, nonetheless contain rooms behind them, such as a wine cellar and a home theater.

15 BRIGHT HOLLOW COURT, LAS VEGAS – $6,500,000.00

Other amenities in the house include a pool, an outdoor fire pit, and a basketball court.

But despite the beautiful touches they have added to their residence over the years, the Stones have decided to sell it and move on.

“Our larger hope was to produce a ‘feeling’ of being in Italy,” David Stone said. “This home was truly a pleasure to build and enjoy. It will remain a special part of our past.”

See full listing details for 15 Bright Hollow Court, Las Vegas

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – California-based MG Properties announced this week that they have acquired Tribeca North Apartment Homes in the Las Vegas metro region for $81 million.

Tribeca North Apartment Homes, located at 3825 Craig Crossing Drive, is comprised of 312 luxury “low-density” apartment units and boasts numerous resort-style amenities. The individual units offer functional floorplans and parking garage access is available to tenants.

The facility also offers access to employment centers for those looking for an easy commute to work, including over 57 million square feet of industrial buildings in North Las Vegas and the 2.3 million square-foot Helios mixed-use medical campus, which is currently in-development.

The apartment complex is also located just minutes from the famed Las Vegas Strip, which offers a plethora of both employment and entertainment options.

Residents of Tribeca North Apartment Homes can enjoy numerous communal perks, such as reserved covered parking; an indoor/outdoor state-of-the-art fitness center; a resort-style pool with oversized spa and lap pool; terrace featuring barbecue pavilion and outdoor fireplace; two fenced dog parks with pet watering stations; and a resident social lounge with demonstration kitchen and vintage arcade games.

“We encourage a stress-free lifestyle at Tribeca North,” the facility’s website reads. “Our amenities are the perfect example of that. Covering all your needs (and wants) our community of one, two, and three bedroom apartments brings you stunning in-home finishes and a premier amenity suite.”

The previous owner of Tribeca North Apartment Homes was The Bascom Group, which was represented in the sale by Spencer Ballif, Adam Schmitt, and Jannie Mongkolsakulkit of CBRE. The purchase was funded via a Fannie Mae loan provided by Bryan Frazier and Blake Hockenbury of Walker & Dunlop.

The acquisition of Tribeca North Apartment Homes represents the first for MG Properties in 2023; currently, the firm owns and operates over 2,000 apartment units in the greater Las Vegas area.

For more information on availability at Tribeca North Apartment Homes please visit https://www.livetribecanorth.com or call them at (844) 521-1659.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – Due to a desire to escape the overwhelmingly high taxes in their home state, reports indicate that scores of California companies have been flocking to Las Vegas in recent months due to Nevada’s far more “business friendly” tax structure.

Among the top destinations in Nevada that these newly transplanted companies are heading for are Las Vegas, Henderson, and Reno; these three cities alone are in the top ten throughout the overall United States locations that California businesses are heading for in an effort to lessen their overhead expenses and free up funding for investment in their local communities.

Essentially, Southern Nevada is becoming one of the premiere destinations for companies looking to flee the Golden State to get more bang for their buck, according to financial analyst Steve Budin.

Nevada has long had a reputation of being a business-friendly state,” he said.

Las Vegas Valley realtor Anthony Luna concurred with his associate’s sentiment, noting that California companies currently make up a large percentage of his business, with out-of-state investors currently funding 56 new construction projects under his watch.

Local business owner Austin Pena noted that his company has saved millions of dollars after relocating to Nevada.

It has helped us understand the value of a dollar and how we should be as efficient as possible,” he said.

One of the main factors that are drawing numerous businesses to Southern Nevada is the fact that the state does not have a warehouse tax, an advantage that California cannot boast of; this accounts for the large number of companies that deal in warehouse goods that have been uprooting their operations and relocating to Las Vegas these days.

Another factor driving California businesses to come to Nevada is that commercial space back home is becoming extremely limited; in particular, it is becoming increasingly difficult to find warehouse and office space combined in California, whereas such accommodations are easy to come by in Nevada.

And finally, it can be said that Nevada’s “business-friendly” tax structure also benefits the state’s residents as well, as the taxes paid by new companies setting up in the state will go to funding public amenities such as schools, firehouses, police stations.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – Talonvest Capital, Inc. and their client, Metropolis Development Group, have announced that they have successfully acquired a $12.2 million construction loan they will utilize in building a large, cutting-edge storage facility in Las Vegas, Nevada.

Talonvest Capital, Inc. is a boutique real estate firm that, as per their website, provides “advisory services to commercial and self storage real estate investors, owners, and developers throughout the United States.” The firm boasts “four decades of institutional knowledge and expertise from the team members to deliver better capital solutions for its clients.”

According to the website of Metropolis Development Group – Talonvest’s client in this endeavor – the development firm has 85-plus years of experience in constructing “self-storage projects in underserved areas and brings new purpose to buildings and land in the self-storage arena.”

The two entities have combined their talents and, this week, have closed on a 36 month, $12.2 million loan to develop 910 climate-controlled storage units across 90,921 net rental square footage (NRSF) along North Rancho Drive within half a mile of US-95, a section of Las Vegas that is considered a “high demand market” in terms of commercial storage space.

Scott Looney, Managing Member of the Metropolis Development Group, noted that he was impressed by the Irvine, California-based Talonvest’s ability to navigate the red tape normally associated with acquiring sizable construction loans, and that his firm was looking forward to breaking ground on the upcoming project.

“This was our first time working with the Talonvest team and we were very impressed with what they delivered,” he said. “Their extensive relationships with lenders, capital expertise, and attention to detail made for a seamless transaction process and great results.”

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – Hard Rock International, the new owners of the Mirage Las Vegas, have finally responded to repeated questions from fans of the establishment’s iconic live volcano, and while it will be remaining in service in the near and now, it has unfortunately been confirmed that the famed attraction will be retired permanently in the near future due to the lack of revenue that it generates.

The Mirage Las Vegas transferred operations in December 2022 from MGM Resorts International to new owners Hard Rock, the gaming arm of the Seminole Tribe of Florida; this marked the first time that a Native American tribe has run a Las Vegas Strip-based resort casino in history.

The Seminole tribe has developed extensive hotels and resorts for gaming on some of their reservations, and in 2007 the tribe bought the Hard Rock Cafe franchise for $965 million; they currently have a total of seven casinos, and announced in December 2021 that it had purchased the rights to operate The Mirage for $1.075 billion.

While Hard Rock plans to continue operating The Mirage under its current name for the time being – during which they will be keeping the volcano attraction running – the eventual plan is to re-brand the resort with the Hard Rock name and extensively renovate the building’s façade to the same trademark guitar-style shape as other Hard Rock resorts.

During this process, sadly, the establishment’s widely-known artificial volcano – which currently erupts nightly, providing free entertainment in front of the resort – will be discontinued and torn down.

The rebranding project is expected to begin in 2024; until then, MGM will license the “Mirage” name to Hard Rock until the project is complete. Hard Rock Las Vegas is expected to open in 2025 or 2026.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – A former star of the MTV reality television series “Jersey Shore” has listed her luxury Las Vegas home on the open marketplace for $1.5 million.

Jennifer Harley – a social media and reality TV star who made a name for herself by dating fellow “Jersey Shore” star Ronnie Ortiz before subsequently starring in the spinoff series “Jersey Shore Family Vacation” – is currently attempting to sell her residence in Summerlin, which she originally acquired in 2018 for approximately $726,000 from builder Woodside Homes.

The home – originally listed on January 6 – is a two-story, four-bedroom residence spanning 2,955 square-feet in size, and is situated near Hualapai Way and Sunset Road. It offers numerous high-end amenities, including marble flooring, custom cabinets, and a backyard with a sunken fire pit with a glass window looking into the property’s sizable in-ground pool.

In addition to being a media personality, Harley is also a licensed agent with Realty One Group, and is responsible for listing the residence herself.

6438 WILD BLUE COURT, LAS VEGAS – $1,495,000.00

Harley had dated Ronnie Ortiz while he was one of the principal cast members of “Jersey Shore.” Ortiz would later file a lawsuit against Harley in fall 2021 in Clark County District Court after Harley had neglected to go along with a plan to sell the home and divide the proceeds.

Eventually the couple split up, and Harley placed the Summerlin home on the market after moving into a separate rental property that was under her ownership.

The house had previously been put up for sale in September 2019 for almost $870,000, but was later removed from the market – after not having been sold despite a price reduction – after the COVID-19 pandemic had essentially frozen the Las Vegas real estate market at the time.

Clik here to see full listing details for 6438 Wild Blue Court in Summerlin

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.