Vacant Lot off Las Vegas Strip Purchased for $12M by North Dakota Native American Tribe

LAS VEGAS, NV – A Native American tribe in North Dakota, flush with cash – $1.7 billion in tax revenues, to be exact – from lucrative oil-drilling operations they have carried out on their land for the past 15 years, have used some of those profits to purchase a multi-million dollar vacant lot adjacent to the famed Las Vegas Strip in Nevada, reports say.

However, what the tribe plans to do with their investment acquisition remains a mystery for the moment.

The Mandan, Hidatsa and Arikara Nation – known collectively as the Three Affiliated Tribes – had discovered a bankruptcy auction in Southern Nevada that had divided a large, vacant plot of land just off of Vegas’ famed central casino-lined corridor, and purchased an 8.7-acre plot of land for $12 million; according to tribal Chairman Mark Fox, the land could be used for a variety of different purposes, including building a casino or a parking lot.

“We saw it as an opportunity to get land — prime real estate land — in Las Vegas for a good price, and that’s essentially why we went there,” he said.

The 95 E. Ali Baba Lane property is situated just off the south end of the Vegas strip near the 43-story Mandalay Bay casino and about one mile from Allegiant Stadium, home to the Las Vegas Raiders NFL team.

Originally, the property purchased by the Three Affiliated Tribes was part of a 38.5 acre lot that was divvied up into smaller parcels of land after a developer had failed to get a Ferris wheel venture going and declared bankruptcy. The lot was completely unused, except for a brief stint where obstacle course-based reality television show American Ninja Warrior filmed some episodes there.

“We’re still in that phase of trying to develop a concept of development for the acreage. Nothing beyond that right now,” Fox said, noting that his tribe is meeting with developers to discuss potential uses for the property.

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 – According to reports, a futuristic new mansion boasting numerous cutting-edge amenities has just hit the Henderson, Nevada marketplace, and if it sells for anywhere near its asking price, it could go down as the most expensive residence sold in the region.

The new listing, dubbed “Vegas Modern 001,” is currently going for $28 million, and offers a plethora of crazy features, such as a great room with retractable walls, an office casita, seven fire features, water on three sides and views of both the Las Vegas Strip and the Red Rock Mountains, 200 solar panels, and a high-tech “smart home” system that allows users full control over the security system, sound system, and energy management.

FOR SALE: 685 DRAGON PEAK DRIVE, HENDERSON – $28,000,000.00

The home’s chef’s kitchen is no less jaw-dropping, with Wolf and Sub-Zero touchscreen appliances, a full catering kitchen, and a glass wine cellar.

The realtor handling the listing notes that Vegas Modern 001 is beautiful, forward-thinking, and unique, and serves as “a showcase for the way people are going to be living in the future.”

Vegas Modern 001’s vast 15,000 square-feet of space offers enough real estate for up to seven bedrooms – including a primary suite with a private patio and a separate suite accessed by a glass bridge – as well as nine bathrooms and a garage with room for up to 11 cars. The home was designed by Southern Nevada architecture firm Blue Heron; Tyler Jones, the founder and owner of the firm that said their approach to this project was inspired by, “capturing the energy of our city, where we were born. It’s meant to connect with people about the current modern lifestyle for Las Vegas.”

As stated above, if Vegas Modern 001 sells for anywhere near its asking price, it will become the most expensive sale in the area, breaking the previous record-holder, a 12,940-square-foot penthouse near the Las Vegas Strip that sold for $16.25 million just last week.

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 – According to reports, a vintage apartment complex located in the Convention Center District of Las Vegas has been sold to the Camino Verde Group, a Southern Nevada-based real estate investment, development and asset management company, with this being the fourth such purchase they’ve made in this area recently.

Kevin Romney, co-founder and managing director of Camino Verde Group, noted that Sherwood Palms – an aging property located at the north end of the Las Vegas Strip – would be an excellent source of housing for the local area workforce once much-needed restoration has taken place.

“Sherwood Palms was a great opportunity to restore this vintage Las Vegas property and provide quality workforce housing for workers on the north end of the Las Vegas Strip,” he said. “With the opening of the Convention Center Expansion, Resorts World and Circa, the need for affordable and workforce housing grows. Sherwood Palms fills an important need for that.”

Sherwood Palms was originally constructed on 1963, and consists of 24 two-and-three bedroom apartments – with floor plans of up to 1,000 square feet – spread out over two stories, with the property featuring an enclosed outdoor courtyard, a community laundry facility, high-speed internet access, and air-conditioning and heating units.

The Camino Verde Group has extensive renovation plans for Sherwood Palms, according to Romney, including new appliances, countertops floor coverings, and more.

“Many of the properties Camino Verde Group acquires are in dire need of rehabilitation and nearly uninhabitable,” he said. “We repair holes in the walls, broken windows and security issues to make them both safe and aesthetically pleasing to tenants. We are committed to providing affordable housing that our hard-working industry workers will appreciate.”

Once the renovations are completed, Sherwood Palms – which stands in the middle of public transportation routes – is anticipated to be a significant lodging draw for those working at numerous local high-profile employers, including the Convention Center, Resorts World, The Westgate, the Strat tower, Fremont Street Experience and the Fashion Show Mall.

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 – Courts in Las Vegas are steeling themselves for a massive influx of eviction cases as the eviction moratorium set by Governor Steve Sisolak finally came to an end as of May 31, with thousands of local residents who may have lost their income due to the COVID-19 pandemic shutdown facing expulsion from their homes after months of not making good on their rent, reports say.

A large number of Nevada residents have applied for rental assistance via CHAP, the county’s housing assistance program, but many have either been denied and are appealing or are still awaiting a decision on their eligibility. But regardless, no one can anticipate how large the upcoming number of evictions will be in the coming days now that the clock on the state eviction ban has run out.

Las Vegas Chief Judge Melissa Saragosa noted that it’s impossible to anticipate how many eviction cases will be filed in the upcoming weeks after over a year of landlords being forced to essentially provide free room and board for people while running their own bank accounts dry.

“It’s really hard to say,” he said. “I mean, we’re doing the best to be prepared and have the capacity to hear cases, but without knowing exactly how many cases are coming in, that’s very difficult to say.”

Prior to COVID-19, the caseload for evictions at the Las Vegas Justice Court was approximately 30,000 cases a year; however, with the vast number of anticipated cases that are expected to be filed as of June 1, that number is expected to be eclipsed very shortly, especially with the move on the part of city government to a remote eviction filing system.

“We’ve changed our model from a very in-person driven process to one that’s working online,” Saragosa said, noting that while a backlog is expected due to huge demand, extensive preparation means that it’s expected to be measured in terms of weeks and not months.

“I don’t anticipate anything even remotely close to six months!” he said. “We’re cross-training all of our legal office assistants, our legal office specialists, we’re cross-training those individuals to help us process the eviction paperwork. We also have additional courtroom space that we’re able to dedicate to hearing just evictions.”

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 – Finally moving out of your parent’s place into the big bad world? Naturally, you’ll have more responsibility, and will have to look out for yourself more. You’ll need to learn about things like paying bills you’re not used to paying for, and that you should always read any paperwork you’re given before signing it. 

Being smart with your money, budgeting wisely and not spending more on your rent than you realistically can are great ways to start strong in solo life. It’s also important to stay away from scams and frauds. Never pay for an apartment you haven’t had a chance to tour, and always be careful about who you’re doing business with. 

If all these tips are confusing you and you’re not really sure what to do, don’t worry. Here are some of our top tips for renting your first apartment. 

Know Who You’re Dealing With 

Unfortunately, there’s no shortage of scammers and criminals in the real estate world, and you don’t need anything much except for money to be a landlord. That said, it might not always be safe to trust landlords to be who they say they are, or even about the history of the property. 

If you’re renting a place with someone you don’t know well, get in touch with a provider of landlord background check or any similar service so you can verify the authenticity of your future landlord’s claims and find out if there’s anything fishy going on with the property. 

Don’t Pay Too Much Rent 

Obviously, you don’t want to rent a property for above market value, but you also don’t want to rent one that’s nicer or more expensive than you can afford. Ideally you shouldn’t be spending any more than 30% of your gross income on rent, and be smart about your savings. 

Be careful about how much you’re paying and if utilities are included in the package or not. Sometimes bills like water and electricity come out of your rent payments, and other times they don’t. It can even be possible that you need to pay some of the utilities and bills yourself because they’re not included in a “utilities included” rent package. 

Consider the Parking Situation 

Parking spaces aren’t always ideal in all places, and if you’re getting a cheaper than usual deal for an apartment it may be because it comes with some hidden cons. Check if any parking space is available nearby, and if the parking lots are safe. The last thing you want is to get mugged or attacked while you’re getting out of your car and heading for your home. 

Make Friends with Your Neighbors 

Your neighbors and the people who are living in the area are by far your most trusted source of information on what it’s like to live in the area, you also need to know who you’ll be living around to make sure there won’t be any problems – particularly if you belong to a marginalized community. 

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 – According to recent reports, KISS rock star Gene Simmons has splashed out for a lavish home in the Las Vegas Henderson hills master-planned community of Ascaya – in addition to a large plot of land next to it for privacy and potential future expansion – land he purchased for a whopping tune of $10.8 million.

The home – a two-story, six-bedroom residence that covers an impressive 10,871 square feet – was sold to Simmons for $8.2 million, with the rocker – also known as “The Demon” – also purchasing the adjacent .48-acre parcel of land for $2.6 million, which had been bought by the previous owners for a comparatively meager sum of $700,000, reports say.

Simmons, who had indicated through media contact a reluctance to comment on his purchases at this time, had previously been looking at properties in The Ridges in Summerlin and MacDonald Highlands in Henderson, according to records.

The property had been described at a ”distinctively modern estate in Ascaya offers a unique opportunity to live in a piece of art that has no equal in the Las Vegas Valley.”

According to Multiple Listing Service (MLS), the home has more than 11,000 square feet of living space and “residence blends indoor and outdoor appeal into a seamless whole that is not only exciting, but masterfully executed. Enter the home via a floating pathway over a sculptural koi pond. Highlighted by glass walls and soaring geometrical spaces, the transitions between indoor and outdoor space are blurred by disappearing glass walls throughout.”

In addition, county records show the property has six bedrooms, six full baths, two half-baths, a pool, 3,963 square feet on the first floor, 3,882 on the second floor, a finished basement of 3,026 square feet and basement garage of 2,284 square feet.

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 – As the last days of the eviction moratorium tick away until the end of the ban finally occurs on May 31, lawmakers in the Nevada State Assembly have announced a new bill which, if passed and signed into law, would delay eviction proceedings for some tenants, reports say.

Assembly Bill 486 would mandate a pause to any eviction if the tenant in questions is in the process of acquiring funds from rental assistance programs, or if the landlord has refused to accept payments from rental assistance programs.

Nevada Governor Steve Sisolak has previously stated that he would not extend the eviction moratorium again once it runs out at the end of this month. A federal eviction moratorium – set into place by the Centers for Disease Control and Prevention (CDC) – is slated to end on June 30 if ongoing court challenges are unsuccessful in overturning it, and lawmakers are marketing that date for their bill’s provisions to come into force, if passed.

Bill 486 would also set up a $5 million fund from federal money that would be offered to Nevada residents in the form of rental assistance, with an additional $165 million coming from the congressional American Rescue Plan shortly afterwards.

In addition, the bill would also form a nonprofit called Home Means Nevada that will allow smaller-mom-and-pop landlords whose tenants have not paid their rent to directly apply for rental assistance themselves. Eligible landlords would have to earn less than $4 million a year in gross income from their combined rental properties, and they must own a single-family home.

The aim of the bill, according to lawmakers, is to stave off a massive flood of anticipated evictions in Nevada once the state and federal eviction moratoriums finally come to an end, with Governor Sisolak stating that the passage of this legislation is “critical.”

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 – Reports indicate that, given the ongoing boom in terms of the sale of ultra-luxury homes in the Las Vegas Valley in recent months, the very real possibility is looming that 2021 could see an especially impressive milestone reached in terms of real estate – the highest price ever paid for a home in the region.

In 2020, the number of homes sold for over $1 million – numbered at 856 – saw a 60 percent increase over the year prior for a whopping total of $1.68 billion, and all despite the economic ravages caused by the COVID-19 pandemic.

Reports say that this trend has continued into 2021 and doesn’t appear to be showing any signs of slowing down; between January and April, 524 homes valued at $1 million or more have already been sold, and with the pandemic in its waning stages as vaccines continue to be distributed at a record pace, it’s safe to say that this year could very well be on its way to exceeding already-impressive 2020’s sales.

In April 2021 alone, 162 $1 million or higher homes were sold, which makes it the second-highest month ever, behind only the 170 $1 million-plus homes sold the month before. In addition, there are currently 257 pending luxury sales, according to the Multiple Listing Service.

Luxury homes have been selling like hotcakes in the Southern Nevada region since nationwide lockdown orders created a new work-at-home phenomenon in the United States, with residents from many neighboring states choosing to relocate to Nevada; not only upgrade their homes, but also to escape highly-taxed states such as California for a lower cost of living.

As a result of demand, the cost of luxury housing in Las Vegas has been skyrocketing, leading to a climate where uber-luxury homes – ones valued at $4 million or more – are also selling almost as quickly as they are listed on the market.

For example, in 2019, there were 26 uber-luxury home sales in Vegas; by the end of 2020 that number had jumped to 53, and between January and April 2021 there have already been 43 sales of homes valued at $4 million or higher.

Clearly, 2021 could be a record-breaking year in many ways for the Las Vegas real estate industry.

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 – When you combine a relatively small amount of rentals with ever-increasing demand, only one thing is certain: princes are going to go up and up, and that’s exactly what they’re doing in Las Vegas, Nevada, according to recent reports.

A new study indicates that rental prices in the Southern Nevada region are rising at one of the highest rates in the United States, with real estate professionals noting that demand is the strongest it’s been in years, while the amount of rentals feeding that demand is shrinking by the day; “unprecedented” is the word that is being utilized the most recently in terms of the Las Vegas rental marketplace.

Home rental prices in Las Vegas in April 2021 have increased by over 11 percent from the same period of time one year ago, with an average rent rate of $1,460 per month, as per a Zillow report.

Las Vegas ranks fourth nationally in terms of rent growth, behind only Memphis, Phoenix, and Riverside; these four cities far outpace the year-over-year national average rental growth of three percent, reports say.

The COVID-19 pandemic, and the subsequent “work from home” culture that it spawned amid lockdown orders, have fueled a very real need for rental units and homes in the Southern Nevada region, especially among those who have required a temporary place to stay while awaiting availability among the fierce competition for Vegas’ limited for-sale home inventory.

In response to demand, at least 50 percent of landlords have raised their rental rates in recent weeks, as opposed to pre-pandemic levels, where that number would typically hover only in the 20 percent range at most.

Landlords are not concerned about tenants leaving due to high rents as they would have been before the advent of COVID-19; after all, with the faster-than-expected revival of the local economy and job market, a rental unit staying vacant for long is not something any local landlord worries about any more due to the “incredible” demand.

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 – According to newly-released truck rental data report, Las Vegas tops the list of places to move to amid the ongoing COVID-19 pandemic, despite the relative shortage of housing options available at the moment.

Penske truck rental has confirmed that Las Vegas is the number one spot to move to, basing that declaration on the sheer number of truck rentals that are one-way; this jibes with the large increase Southern Nevada has been experiencing since 2020, a time when the region’s economy and job market first began to experience a boom, and continues to do well despite the pandemic.

U.S. Census Bureau data also shows Nevada’s population grew by 15 percent in 2020.

A lot of this influx of people is coming due in large part to so-called “tax refugees” from California, with both companies and private residents leaving in droves due to the exorbitant taxes imposed upon them at their former home state. Clearly, the much lower cost of living that Nevada affords them is an attractive alternative, especially when the pandemic has given rise to “virtual commutes” to work, where a computer and an internet connection can allow people to work anytime, anywhere.

Estimates indicate that 38 percent of the homes sold in Las Vegas in 2020 were to former California residents, a whopping number that indicates just how much the city and its surrounding areas are proving to be a huge attraction for those looking to get a fresh start in life and their careers from that nearby area.

Penske serves customers in North America, South America, Europe, Asia, and Australia; among its services are full-service commercial truck leasing, truck fleet maintenance, truck rentals, and used truck sales. The company currently employs more than 36,000 workers worldwide and operates a fleet of more than 300,000 vehicles.

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 bill that would have increased protections for renters in Nevada has apparently failed to clear the State Assembly and is essentially considered “dead,” according to reports.

Senate Bill 218 would have required a three-day grace period before landlords or property managers could have charged a tenant fees for a late rent payment, in addition to putting limits on “hidden” rental fees and setting limits on when landlords could collect rental application fees.

The bill cleared the State Senate on April in a vote along party lines, but then languished in the Assembly’s Commerce and Labor committee, where it was eventually confirmed by Democratic Assemblywoman Sandra Jauregui , the Chairwoman of the committee, that it would not receive a hearing.

Lawmakers had previously passed a series of tenant protections in 2019 that capped rental late fees at 5 percent and extended timeframes for evictions, resulting in backlash from property owners in Las Vegas; when similar opposition appeared surrounding SB 218, attempts were made to tone down some of its provisions, but landlords argued that the new laws would cause “havoc and chaos” and that the bill was “an overreach.”

SB 218 is the latest of several pieces of legislation that have failed to pass that would have afforded more protections to renters, especially when it comes to affordable housing options. There are some rumors that lawmakers believe too many housing bills are being introduced this session, a situation that is only being more complicated by the ongoing housing crisis brought about by the COVID-19 pandemic.

However, Assembly Bill 308, sponsored by Assembly Speaker Jason Frierson, also attempts to introduce similar tenant protections – including grace periods on late rent – but is considered much more moderate than SB 218 was; the new bill has been approved both by Nevada Realtors and the Nevada Apartment Association.

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 – As if Las Vegas landlords weren’t already beset with pandemic-related issues involving numerous tenants either behind on their rent – or, thanks to ongoing eviction moratoriums, not paying at all – now a troubling new trend has seen woes increase further- renters basically trashing their homes while in the process of leaving, according to reports.

Fox 5 Vegas reported on a recent story that landlords are finding all-too-familiar; a small, mom-and-pop landlord who had been renting out a house to a tenant who, at the start of the pandemic last March, simply stopped paying rent altogether. Some eventual funds came in courtesy of the CARES Act Housing Assistance Program (CHAP) which provided relief in December, but soon dried up, and the tenant, protected by eviction bans, refused to pay rent, leave, or even communicate on a potential compromise.

The landlord, a single woman who had plans to eventually retire in the home, instead decided to sell, filed an unlawful detainer, and the renter finally moved out; however, what they left behind was heartbreaking. Trash everywhere, fixtures ripped out, profane graffiti scrawled on the walls; even the refrigerator was wedged halfway up the staircase, blocking off the second floor.

She estimated the home has sustained as much as $10,000 in damages.

National Association of Residential Property Managers (NARPM) Southern Nevada President Joshua Campa noted that this landlord’s story, sadly, is not unique these days, due to tenants taking advantage of COVID-19 era renting rules that favor renters over owners.

“Most of our move outs have been the worst we’ve ever seen,” he said. “Once you negate one aspect of the contract, the tenant thinks it’s free game. They’re like, ‘we don’t have to listen to any of the other rules anymore.’ The people who didn’t pay at all and destroyed property, it appears those are people that took advantage of the system, because they never reached out to us.”

Damage left behind by tenants is often a surprise, since landlords and property managers are also unable to conduct inspections due to the pandemic

The Nevada eviction ban ends May 31, which means that paperwork for evictions can start being filed; however, the actual evictions themselves cannot be carried out until ongoing court proceedings over the federal CDC eviction ban – originally slated to end June 30 – are settled.

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.