Amazon.com Expanding Warehouse Operations to North Las Vegas; Boost Expected for Local Economy

LAS VEGAS, NV – As if Las Vegas’ economy – and as a by-product, it’s real estate market – wasn’t beefing up its already impressive profile, Amazon.com, the nation’s largest online retailer, is currently in the process of constructing a massive warehouse in North Las Vegas to be used as a regional fulfillment center for the countless orders placed via their website on a daily basis.

Amazon’s warehouse, one of over 75 Amazon currently has across the country, will ring in at an impressive 800,000 square feet, and is being erected near Lamb Boulevard and Tropical Parkway. The facility is expected to open its doors for business in summer 2017, and with the opening of said doors will come a immediate boon to the local economy in the form of 1,000 new jobs, many of which will man the warehouse stocking items and packing orders that are destined for numerous locations throughout the Southwest.

As an enticement for Amazon to set up shop in North Las Vegas, Nevada Governor Brian Sandoval has offered up $1.8 million in tax savings in the form of tax abatement’s for the online retailer. According to Amazon’s latest annual report to the Securities and Exchange Commission, the company saw net income of $2.37 billion for the year ended Dec. 31, 2016.

Governor Sandoval noted in a statement that Nevada has been attracting numerous big-name companies to its corporate landscape; in addition to Amazon, The Honest Company, CML Media Corp Sutherland Global Services, TH Foods and Zazzle are expected to set up shop in the area, not to mention the impending re-location of the Oakland Raiders NFL team to Las Vegas within the next 1-2 years. With this injection of fresh blood into the region, Sandoval said, is serving to turn Nevada in general and Las Vegas in particular into a destination not only for tourism, but business as well.

“That’s what provides the jobs…a variety of companies will spur growth in Nevada, including Amazon.com, the largest internet-based retailer in the world,” he said. “North Las Vegas is transforming…Nevada’s business-friendly atmosphere is not only helping existing Nevada companies expand, but also bringing industry-leading companies to our state.”

LAS VEGAS, NEVADA – For the third time in 35 years, the Oakland Raiders have decided to pack their bags and move to greener pastures; this time, calling Las Vegas, Nevada home, possibly within the next two years or less, and the arrival of the popular National Football League team – an addition to a brand-new 65,000 seat state-of-the-art stadium for them to call home – is bound to have a distinct impact upon the Southern Nevada area.

In late January 2016, billionaire Sheldon Adelson, president and CEO of the Las Vegas Sands Corporation, proposed a new domed stadium in Las Vegas to potentially house the University of Nevada, Las Vegas football team and a possible NFL team. Adelson contacted Raiders management for a potential partnership with the team in regards to the new stadium, and in April 2016, Raiders owner Mark Davis met with the Southern Nevada Tourism Infrastructure Committee.

Adelson – along with Goldman Sachs, the project’s backup investor – later pulled out of the deal, but the gap was filled by Bank of America; Nevada’s legislature also approved a $750 million public subsidy (via a 0.88 percent increase in hotel occupancy taxes) for the stadium in October 2016, and the Raiders themselves will invest $500 million of their own money in the project. Overall, the stadium has a $1.9 billion price tag, which includes a $100-million practice facility.

The Oakland Raiders were founded on January 30, 1960, as a member of the American Football League; they are currently members of the National Football League, which merged with the AFL in 1970. Over the years, the Raiders’ fortunes on the gridiron have flip-flopped regularly, going through losing streaks but becoming dominant within the league as well, culminating in an easy 1980 victory over the Philadelphia Eagles in Super Bowl XV. At the end of the NFL’s 2015 season, the Raiders boasted a lifetime regular-season record of 444 wins, 397 losses, and 11 ties; their lifetime playoff record currently stands at 25 wins and 18 losses.

The Raiders have courted much controversy over their seemingly nomadic tendencies; in 1982 the team relocated to Los Angeles (while still retaining the ‘Oakland’ moniker), and would remain there until 1995, at which time they returned to Oakland. On March 27, 2017, NFL team owners voted nearly unanimously to approve the Raiders’ application to relocate from Oakland to Las Vegas, Nevada, in a 31-to-1 vote. The Raiders will remain in Oakland through 2018 – and possibly 2019 – and relocate to Las Vegas in either 2019 or 2020.

The stadium and the prestige of having their very own NFL team on-hand is part of state government’s goal of solidifying the very backbone of Las Vegas’ lucrative tourism industry, according to a statement released by Governor Brian Sandoval.

We have before us the opportunity to invest in Nevada’s most foundational industry, tourism, by providing for the infrastructure and public safety needs of the 21st century,” he said. “We can and must usher in a new era for tourism in the Las Vegas market, while keeping our citizens and visitors safe, and ensuring our position as the global leader in entertainment and hospitality.

The stadium is anticipated to provide a boost to the local economy, which is expected to create a ripple effect that will be felt throughout many of Las Vegas’ many industries- including real estate. Jobs and local wages are both expected to receive a boost; in addition, the amount of tourism to the area is sure to increase as not only will the stadium be host to the Raiders, but also the University of Nevada – Las Vegas football team as well, attracting professional and collegiate football fans of all ages.

All of this will translate into a significant amount of fresh revenue being pumped into the Vegas economy, and in any market experiencing employment and wage prosperity, it’s attractiveness as a place to live is sure to increase as well. This is anticipated to result in an increase in home and apartment prices in the area, where quality housing options are already shrinking and are priced at a premium. More than ever – fueled by the arrival of the Oakland Raiders and a brand-new football stadium – Las Vegas will become a seller’s market within the next few years.

However, all the details have not been set in stone yet; terms for a 30-year lease with the Las Vegas Stadium Authority still to have terms ironed out, and property upon which to actually build the stadium still needs to be secured; one proposed 63-acre site is located near McCarran International Airport. However, these are considered to be minor issues with all parties committed to making Las Vegas the new home of the Oakland Raiders a reality.

If you are considering relocating in or around the Las Vegas area, which clearly is experiencing huge growth and a booming job market,  give us a call at 702.376.7379 so we can answer any real estate and home relocation questions you may have.

LAS VEGAS, NV – Local real estate continued its slow but steady climb upwards during the month of February, with prospective homeowners buying more properties – at higher prices – in a busy marketplace where fierce competition is resulting in steadily dwindling options.

The advances made in the real estate market of Las Vegas are especially apparent when you look at how far it has progressed within the context of a year ago; in Southern Nevada, single-family dwellings have gone up nearly nine percent since February 2016, with the average home currently going for approximately $240,000. 2,249 single-family homes were sold in the Southern Nevada area in February, an increase of 6.5 percent from one year ago.

Likewise, the demand for home loans and mortgages have seen an uptick in activity recently as well; last year in the Las Vegas area, 36,130 home-purchase loans were taken out, which is an 8.5 percent increase over 2015. In fact, the home lending market in the Southern Nevada area has seen continued growth for the past three years and running.

Of course, with the increasing demand also comes increasing prices; that rings true for just about any commerce field, of course. In February of 2012, the average price of a single-family home in the Las Vegas area was about $121,000; fast-forward to 2017, and that same home will set back a buyer $240,000 – a whopping 100% increase. Home prices have consistently increased year-by-year in the area, with the same home in 2015 costing $205,000, $220,350 in 2016, and so on. After enduring a series of peaks and valleys, the real estate marketplace has stabilized and has begun to rise once again.

Furthermore, and comparatively speaking, home prices in Las Vegas are among those that are rising more than elsewhere throughout much of the United States. Whereas the national median single-family home price in February 2017 was $195,300 – a 7.2 percent bump from the same time one year ago – the same home in Las Vegas was fetching $216,400; this represents an increase of 9.8 percent, 2.6 percent higher than the national average.

The reason why more buyers are taking the plunge and committing to buying homes in recent years is simple; a steady population increase in the region, coupled with a slowly-but-surely growing economy and a job market that has boasted regular improvement, has given consumers – many who have been putting off starting families until they were in a position to be able to afford a home – the confidence to finally plunk down the dough on a dwelling of their very own. In addition, the price of the average home in the state of Nevada is still lower overall than many other neighboring states, including cities in California.

However, while the steadily-growing demand for real estate in the region is clearly there, the options to satisfy that demand are starting to shrink; by the end of February, 10,725 single-family homes were on the market, up slightly from the month before but representing a 17.5 decrease from the year-to-year average. Clearly, the rise in demand has caused the available housing resources to decrease in size, and this should go hand-in-hand with continued price increases going forward into the near future.

As you can see, after a long period of dormancy nationwide, the real estate market is slowly transforming back into a seller’s market rather than a buyer’s market, and there’s nowhere this is more readily apparent than in Las Vegas. If you are considering purchasing a home in the Southern Nevada region, it’s best to start weighing your options sooner than later – and if you need help, that’s exactly what we’re here for; contact us today.

Considering Southern Nevada as a potential for investment? Las Vegas real estate is one of the most common targets for real estate investors as of late. Please feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

Designing a large luxury home can be challenging. High net worth buyers will look for the newest styles and have the knowledge to spot out any flaws or imperfections. My luxury 12,000 sqft. remodel at 586 Lairmont Place Henderson NV 89012 required much time and attention during the design phase. I decided to hire a professional designer, Jared Lebo with Lebo design, he is also a licensed architect.  Below are the top recent trends we decided to follow.

1. Large Formal Dining Rooms

In the past, almost every home was equipped with a formal dining room and as time went on dining rooms were replaced or reduced with larger kitchens, home offices or media rooms.  Most luxury homes do not have dining rooms to entertain a party of 12 or more. We choose to turn a bedroom/game room into a large formal dining room, large enough to support a party of 25-30.

2. Mismatched Cabinets

All white is becoming a new trend for kitchens. Why not be bold and add a dark wood accent in your island and risers above your stove. My designer chose mostly white kitchen cabinets, the off color accents will offer a break to the eye.

3. Bold Powder Rooms

Since every powder room is relatively small, it makes sense to spend a little extra money to make a statement. A custom mirror, tile wall coverings and granite that looks like artwork can accomplish the look you want.

4. Built-In or Stand-Alone Bath Tubs?

Stand-alone bath tubs are certainly in style but their practicability is in question. We went with a stand-alone tub in a guest bedroom but chose to use a built-in tub for the master bathroom. Built in tubs have jets, heat and enough space around it to safely get in and out, and put items like soap, a phone or tv remote etc.

5. Technology

We couldn’t afford to  shy away from the ever-increasing technological innovations. Today’s buyers want it all when it comes to technology, and the builders that cater to this tech-trend are the ones who stay at the top of the real estate market.

We chose to install a fully automated Vantage lighting, Crestron audio and video system. With a touch of a button on your iPhone or iPad docking station, you can now control lights, climate, audio, and control your alarm system all from a single point in the home or other side of the country. These are the built-in features that today’s luxury home buyers are looking for.

There are plenty of places in Las Vegas, Nevada to buy stone for counter-tops but none in my opinion offer a better array of memorable stone choices than Marble Express, located at 3925 W. Sunset Rd., Las Vegas, NV.

Our luxury re-model of 586 Lairmont Place Henderson, NV 89012 has progressed to the point at which it was time to select the stone for our cabinetry and vanities. I see the same unremarkable granites for sale at all the usual outlets, and it is such a pleasure to walk into the Marble Express showroom. All the colorful and unique stone choices available makes one feel  like they are in an art gallery rather than a stone and tile store.

Quartz

A man-made product that feels like granite but can be produced in almost any color. It is very popular for the modern trend that is sweeping higher end residential design.

Granite

A hard, natural stone marked by a very grainy appearance.

Marble

A natural stone, metamorphosed limestone that has shiny, crystalline appearance.

Limestone

Natural stone, sedimentary rock.

Onyx (hot trend!)

A beautiful stone noted for its chaotic banding patterns. It is also translucent and a terrific choice for back-lighting.

For our kitchen cabinetry, we are going with modern looking white quartz with subtle gray bands. The vanities are a selection of both quartz, granite and marble. The show piece in a dining room is a wall mounted 4-8 foot backlit onyx. The fiery oranges and yellows bring the room alive. We expect to complete the home in early August 2016.

During the remodel phase of our luxury investment home at 586 Lairmont Place, Henderson NV in MacDonald Highlands community, a decision will be needed in regards to the level of drywall finishing. 

The 5 levels of drywall are:

• Drywall is hung
• Tape covered with mud
• Screws covered with thin coat of mud
• Cover screws again with mud, sand surface
• Small skim coat, sand and prime
• Skim entire surface, sand and prime, laser level

The average production home with course texture will use a level 3 or 4 finish.  For our 11,700 sqft luxury home, we chose to use a level 5 smooth finish because the type of buyer for this home will expect the best.

Obviously, the price goes up as your finish level goes up due to the high level of preparation. Level 5 requires the installer to level every surface with a laser to insure there are no imperfections.  Some areas of exception are behind cabinets and walls that tile will be applied. The highest level of attention will be large walls and especially the ceilings as the light reflects and rakes across highlighting any imperfections which are very evident to the eye.

Every project is different and requires a finish to best suit the look and budget of the home remodel. We have chosen level 5 finish because our project calls for it.

A reflective ceiling plan is what the floor plan should look like if the viewer were holding a mirror and looking down onto it.  Basically, every component on the ceiling needs to be drawn before construction, items such as venting, lighting, fire safety and soffits.  Since our investment project in MacDonald Highlands already built with a certificate of occupancy, some of our components were already in place.  Our designer Jared Lebo, also a licensed architect, provided a full set of reflective ceiling plans to outline the following:

Drop Ceilings/Soffits:

Each room was designed with respect to the entire home so that the look of the ceilings will be fluid throughout.  We incorporated some LED tape lighting to accent the soffits in the dining room, grand salon, lounge, master bedroom, master bath and executive office.  The light is inserted into a slot as to give a hidden look.  Another feature we incorporated into 3 rooms (kitchen, grand salon and dining room) is a wood grain panel to be inserted in between the soffits, in the center.  The bedrooms and movie theaters have standard drop soffits.

Lighting:

The home was fitted entirely with 6 inch recessed lighting with some 2 and 3 inch accent lights throughout.  We decided with guidance from our designer, to change out almost all of the 6 inch fixtures and install 4 inch recessed lights.  The bathrooms are fitted with 1 inch pin lights.  There are several art walls that have 3 inch amiable accent lighting.  A few areas have track lighting, such as the master closets and the kitchen.  I have discussed in a previous article titled “Choosing a Low Voltage Package” full details of our total home automated lighting and audio.  Basically, all of the lights in the home can be controlled by two Ipads located in the kitchen and master bedroom, remotely by phone, or by any switch throughout the home.

Fire Safety:

An extremely important aspect of our ceiling plan is fire safety.  This portion is drawn and work completed by Nationwide Fire, a company that specializes in fire safety.  Strategically placed sprinklers and smoke detectors which were present when the home was purchased need to be properly inspected and in some cases replaced.  The city of Henderson strictly enforces fire safety codes and requires that all structures over 5000 square feet be fitted with a sprinkler system.

With the proper reflective ceiling plans, we have ensured our investment home at 586 Lairmont Place will be properly lighted, designed with modern drop ceilings and most importantly, a safe environment.

While searching for appliances to use in my luxury investment home kitchen, I came across many good options. Ideally, your entire kitchen appliance set is manufactured by the same company, but this can be difficult due to the strengths and weaknesses offered by each.  Below, in my opinion are the top 5 luxury appliance brands that I considered using:

5. Viking

Viking is a US company that has been manufacturing ranges since 1987.  In the 90s and early 2000s, Viking ranges where present in most high end kitchens due to their stellar marketing.  Viking started making refrigerators in the late 90s, an area in which they do not stand out.  Their core product and strength is the range/stove, in which they continue to release new technology and a great looking product.  They are at #5 due to their bad reputation with service issues.

4.  Thermador

Thermador, another US company, has been in business since 1916.  They invented the first wall oven and cooktop in 1947, and introduced stainless steel into home appliances.  Most affordable on this list with an attractive line makes Thermador a great choice.  They have had poor reviews based on lack of customer service.

3. Gaggenau

Gaggenau is a German company founded in 1681.  They specialize in cutting edge built and designed home appliances.  Gaggenau was the first on this list to come out with the convection oven.  Style and sophistication coupled with a 7 year warranty make Gaggenau a great choice.

2. Miele

Miele, another German company founded in 1899, has many milestones in the industry including the world’s first dishwasher with a cutlery tray in 1987.  Their quality is second to none, and their sleek design is perfect for the buyer that wants a “European look”.

1.  Sub-Zero & Wolf

Leading the US market in sales, this family owned Wisconsin company set the standard in home refrigeration.   Sub-Zero & Wolf, synonymous with excellence, luxury and quality, offer some of the best ranges/stoves and refrigerators on the market.

Choices for my kitchen:

I considered Gaggenau or Miele but ultimately went with Sub-Zero & Wolf.  The price difference wasn’t much, and considering the fact this home will be on the market soon, I needed to make sure my kitchen appealed to a large audience.

• Refrigerator: Sub-Zero 72 inch combo 36/36 side by side stainless steel refrigerator and freezer.
• Rangetop: Wolf 48 inch 6 burner with griddle.
• Oven: Wolf double 30 inch wall mounted.
• Warming drawer: Wolf 30 inch.
• Cooling Drawer: Sub-Zero 24 inch double drawer.
• Dishwashers: 2 Askos built-in.
• Microwave: Wolf built-in.
• Ice maker: Sub-Zero 15 inch panel ready.

I had to post this video of the tough work one of our sub-contractors had to go through on this project. The more we looked at the exterior of this home, we hated it. MacDonald Highlands located in Henderson Nevada, just outside of Las Vegas likes to encourage the use of stone on home exteriors but this one looked as if someone just threw some tile on the sides of the house just to make the HOA happy, but the tile choice and placement was terrible and actually detracted from the appearance of the home. We bit the bullet and ordered the tile removed so we could stucco and repaint the entire exterior.

Trade persons work very hard but this work went above and beyond. Imagine running a 15 Lb power chisel above your shoulders on a vertical wall for 6 hours a day over two weeks. I know this home will look so much better once the exterior is changed but wow, what a job. Cutting the checks to pay for it is no fun either, and we sure would have preferred not to do it, but tough choices are the norm on a rehab.

If you need a real estate brokerage that offers services to landlords or property owners. If you have rehabbed your property and want to hire a company that will do its best to preserve your property while leased or it’s time to sell, please call Shelter Realty at 702-376-7379

Shelter Realty Represents Buyer in Purchase of 586 Lairmont Place, Henderson NV

Shelter Realty agent Paul Rowe acted as the buyer’s agent on the purchase of a 12,000 square foot custom home in the upscale neighborhood of MacDonald Highlands. The $1.7 million dollar sale on 586 Lairmont Pl, Henderson NV closed on November 30th, 2015.

Originally constructed in 2010, this property is set to be completely renovated and reinserted back into the Las Vegas real estate market by July 2016.

I interviewed Paul about the upcoming plans for this project and here were his comments about the sale as well as the impending renovation plans.

This was a very interesting purchase. MacDonald Highlands was hit particularly hard during the recession, but is coming back strong now. The home was originally completed in 2010 and eventually was foreclosed upon in 2013. A new owner took possession in 2013 but never occupied the property. They had a grand vision to expand the property even larger; however, they eventually decided not to pursue the renovation, but not before completely demo-ing the property down to the floor boards and studs throughout the entire property.

It was placed back on the market in 2015 in this unfinished condition, but being such a daunting project, the retail buyers weren’t biting and the initial pricing was too high for the investors. The new owners I represented came in and picked it up at a pretty good time.

The home really is going to be like a new home for whomever buyers it after the renovation. It was barely ever lived in and now it is being reworked from the top to bottom with new everything. The pool will be new, landscaping new. All the finishes and fixtures, new, low voltage electronics throughout as well.

I love the new floor plan. It maintains the large capacity as a high profile entertainment home but is laid out so efficiently, a family will feel right at home. It is amazing how the rooms are interconnected. When you’re in it, it feels like a grand house but you still know what is going on in other areas of the home unlike some cavernous homes I’ve been in before.

The views are phenomenal. This house has a 4000 square foot finished roof deck. I am not joking, there are clubs on The Strip that don’t have this kind of space. You can see the entire Las Vegas valley from up there.

The current developers are already proceeding on the renovation and delivery is expected in late June 2016. There are opportunities for the eventual resale buyer to come in earlier during the renovation if they wish, and to take the home in a different direction prior to its completion. This is something that would have to be negotiated but as building from dirt in MacDonald Highlands can easily take about 24 months, it is a great opportunity to have like new construction that can be ready in only 4-5 months.

Most property management companies will offer a set maintenance limit upon initiating a new contract with a landlord. The majority of Las Vegas property management companies set this limit at $300 – 500. This means that at property manager can approve any repair to your home that is less than that amount without the landlord’s prior approval. For some landlords this is fine, but for the majority of landlords this amount is more than they are comfortable pre approving and this has been our experience here at Shelter Realty.  This has prompted some property management companies to find other solutions in order to make their clients confident in their ability to provide good property management services.

At Shelter Realty we feel a good property management company should be able to maintain a property with minimal repair limits, for instance limits of $250. They should have vendors who are willing to work with these lower limits and who are willing to make additional trips back to the property without charging additional fees (trip charges).

As most people have experienced, a lot of vendors these days upsell for commissions or heavily mark up the material’s. So a vendor with a high maintenance limit and pre-approvals might just take advantage of those situations and the landlord know none the better. Having lower maintenance limits helps to control these situations and discourages over charging . A good honest vendor will make the minor repair upon the initial visit and ensure it is under the approved limit. If a repair can truly not be completed for less, the vendor is happy to leave the property and provide the management company with an estimate. These vendors look forward to obtaining approval and visiting the property again to complete the repairs.

When your property management company can find vendors to accept this challenge and these types of terms, you have a property management company that has exhausted the search for honest vendors; a management company that goes the extra mile to ensure their landlords are happy and comfortable to have them oversee their investment property.

For more information about our Las Vegas property management services, give us a call at 702.376.7379, email us at info @ shelterrealty.com or complete the form to the right.

Living in Las Vegas and Henderson comes with many great things. Some may say one of those things includes Las Vegas Home Owners Associations or HOA’s.  They help to regulate the standards in our community’s which most home owners and landlords come to appreciate. They watch over the neighborhoods to ensure everyone is abiding by the rules and regulations that help to keep the communities safe and clean. After all, that’s what they were created for. The “Covenants, Conditions and Restrictions” or the “Rules and Regulations” aren’t too difficult to follow.  For example, we are not allowed to leave our trash cans out on the curb after a certain amount of time on trash days; we have to install our satellite dishes where they cannot be seen; our festive decorations and lights have to come down once the holidays have passed and so on and so forth.

One key factor for new home owners, families moving to Las Vegas from out of state and investors is to be very aware of HOA communities and their common laws.  Unfortunately, a vast majority is unaware of these rules, sign the closing documents and /or lease and then come to find out about some of the more unknown rules. Did you know that in some communities you are not allowed to have a company vehicle? Some don’t even allow you to park it in the driveway. Most company vehicles cannot fit into a garage. What service technician wants to park his or her work truck on a public street to have it burglarized of all their equipment?  Or, did you know that many communities do not allow any vehicles to park on the street.  Maybe you have a garage full of recreational items or equipment and cannot fit that third car into the drive way. Only until it’s too late and you have accrued a fine or had your vehicle towed does this come to light; contracts have been signed and now you are stuck.  This can be a very unfortunate situation as you can imagine

How do you as a new homeowner, landlord or tenant avoid these situations? Make sure you have a good Realtor and/or Las Vegas Property Management Company that have the knowledge and know how to research the association’s rules and regulations on your behalf in order to avoid the these types of situations before they happen. They are more common that you can imagine.

For more information about our Las Vegas property management services, give us a call at 702.376.7379, email us at info @ shelterrealty.com or complete the form to the right.