Category Archive : Area Living

LAS VEGAS, NV – Illustrating the prominence that Southern Nevada has achieved in the national real estate scene in 2021, recent national rankings have placed four Las Vegas-based master-planned communities in the United States’ top eleven in terms of sales, and five in the country’s top 25; this trend is expected to continue – and possibly increase even further – in 2022, experts say.

National consulting firm RCLCO currently ranks Summerlin in the number three spot nationally with 1,619 sales in 2021, which represents an increase of 11% over the 1,456 sales the community reported in 2020 and 23 percent over 2019’s 1,320 sales.

The number seven spot was taken by Cadence in east Henderson – a project of the LandWell Company – with 864 sales, which was a modest jump of 1% over 2020’s 852 sales – when it ranked 10th – but a 15% increase over the 753 sales the community had in 2019.

In 8th was North Las Vegas’ Valley Vista community with 860 sales, which was actually a decrease of 15% over 2020’s numbers, when they ranked 6th with 1,017 sales.

Up next is Inspirada in West Henderson, which was ranked 11th on RCLCO’s list with 741 sales, which represents an impressive 25% jump over their 2020 numbers – when 592 homes were sold – and a 15% increase over the 645 sales they had in 2019.

Outside of the top eleven, Skye Canyon comes in tied for 22^nd place with 655 sales, a huge bump of 39% higher than they were in 2020 when they sold 472 homes and placed 46th in the United States; in 2019, they reported 460 sales.

According to RCLCO Vice President Karl Pischke, Las Vegas had more high-end communities in the nation’s upper echelon of sales rankings than anywhere else in the country for 2021.

“Las Vegas had five communities in this year’s master plan list, and three in the top 10 and then Inspirada at 11 and Skye Canyon 22nd,” he said. “No other metropolitan area had more master plan communities in the top 10 than Las Vegas, which is a great distinction. When you look at the home sales within those five communities, they increased by about 8 percent between 2020 and 2021 (compared to 5 percent nationally for the top 50). That’s a positive picture. Low mortgage rates and demographics were helping drive some of that.”

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 oft-delayed Brightline West high-speed railway system between Las Vegas and Southern Los Angeles that has been long-gestating once again is being heralded as back on-track, along with a potential extension into an additional L.A. suburb that would open up an additional region of California to Southern Nevada.

Following a series of delays that, as our last report, had construction slated to begin in 2021, the Miami-based Brightline West – the only private passenger rail company in the country – is now anticipating an early 2023 start on construction which would include an additional 49-mile extension into California’s Rancho Cucamonga suburb, pending final federal approval which is expected by November 2022.

This additional extra extension would connect into the original, previously-approved 216-mile railway from California’s Victor Valley to Las Vegas and would feature trains that travel between 180 and 200 miles-per-hour. With the Rancho Cucamonga extension – which would connect to downtown Los Angeles via an existing commuter train – the length of the electrified railway leading to Vegas would be extended to a total of 265 miles.

In a statement, Brightline noted that the high-speed railway system between Las Vegas and L.A. would generate jobs, help to reduce pollution, and deliver convenience for commuters.

“Brightline looks forward to working with the Federal Railroad Administration on finalizing the permitting process and making this America’s high-speed-rail showcase system,” they said. “Brightline West is the most shovel-ready project in the nation and provides the best opportunity for this country to have a new high-speed rail system within the next few years, achieving success for this administration’s goals related to jobs, climate and equity.”

Currently, the projected launch date of passenger rail service for this line is in 2026, with an estimated total development cost of $8 billion. The finished rail line would result in a 34-mile stretch of track in Nevada running along Interstate 15, ending at a station located on the south end of the Las Vegas Strip.

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 luxury real estate market continues to be fueled in no small part by California residents leaving their home state in droves – mainly due to excessive taxes, high cost-of-living concerns, and draconian COVID-19 restrictions – in favor of Las Vegas’ Henderson and Summerlin communities, both of which have been favored heavily by recent out-of-state transplants.

In contrast to their native California, Las Vegas offers everything individuals who are fleeing the Golden State could want, including lower taxes, secure high-end communities, breathtaking views – both scenic, and of the city of Las Vegas itself – and impressive amenities conducive to a luxurious lifestyle.

Reports say that an extremely high percentage of wealthy buyers from California are settling in Henderson and Summerlin, both of which contain affluent, gated, master-planned communities that offer high-end homes with numerous perks for residents and breathtaking views of the surrounding countryside.

However, which of these two communities Californian buyers are gravitating towards when they arrive in Southern Nevada tends to differ on what part of their home state they are coming from, experts say. Those coming from Orange County, for example, tend to favor the offerings of Summerlin. This is due to many factors, but especially its “city-like” feel; the community is located against the Spring Mountains of Red Rock National Conservation Area, and features a vibrant, pedestrian-friendly urban center with a mix of world-class dining, shopping, events and entertainment options.

In contrast, those coming from areas with a slightly more rural aesthetic, such as San Diego, tend to lean more towards Henderson, which features more of a “small town” charm. The community offers lush greenery, extensive landscaping, and 1,400 acres of developed parks and trails. Located near Lake Las Vegas and Lake Mead National Recreation Area, Henderson was also highlighted as Money Magazine’s 50 Best Places to Live in America in 2018 and one of the safest cities in America by Forbes in 2017.

But regardless of where they chose to settle – Henderson, Summerlin, or elsewhere – the steady influx of wealthy out-of-state residents choosing to make Southern Nevada their new home isn’t expected to end anytime soon.

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 – Currently, short-terms rentals such as Airbnb and VRBO are not legal in unincorporated Clark County, but all of that is set to change thanks to the passage of Assembly Bill 363 (AB363) by the Nevada Legislature, and county officials are seeking input from local residents on the regulation once the marketplace is allowed to open for business.

Clark County has launched a public survey regarding short-term rentals to assist officials in crafting ordinances that will serve to regulate the market, which AB363 requires be set in-place by no later than July 1, 2022.

Some of the limits to AB363 that local residents will be able to give their opinions on include minimum distance separation between short-term rentals proximity to resort hotels, limits on the number of occupants and number of permits a person may hold.

Erik Pappa, a Clark County spokesman, said that the survey should help to find compromises that will hopefully alleviate any misgivings that residents may have over short-terms rentals potentially appearing near their homes.

“We have to strike an appropriate balance and we really need the public’s input on what that balance should be,” Pappa said.

Currently, Assembly Bill 363 requires a minimum distance of 500 feet between any two short-term rentals – Las Vegas’ current ordinance requires 660 feet – and could also override a mandate that requires a rental property to be occupied by the homeowner.

“Are those standards appropriate or should we require further distance requirements? Should we limit the number of people that can stay at an Airbnb?” asked Pappa.

Clark County officials are urging residents to take part in the survey, which they say is vital in creating ordnances that can impact the quality of live in the neighborhoods that the majority of these rentals will be situated.

The survey, which takes between 10 and 15 minutes to complete, can be accessed at https://www.ClarkCountyNV.gov/survey.

The survey will ask several different questions of residents, including their opinions of having short-term rentals in their neighborhood, any experiences they have had with such services in the past, and other matters that will be taken into consideration when county officials draw up their mandated ordnances.

The survey will be made available to Clark County residents until the end of January, 2022.

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 – In keeping with the ongoing trend of the high-priced luxury Las Vegas real estate, “The House of Roses,” a Northwest Las Vegas ranch estate, has been listed on the market for $7.95 million.

The ranch, located at 4225 North Jensen Street and situated on 2.25 acres at the base of Lone Mountain, lives up to its name by featuring lush landscaping that is considered uncommon in Southern Nevada. The property boasts 25 species of roses and numerous varied fruit trees throughout the property, which are able to grow and thrive in the notoriously dry climate by way of a private well-water system.

The ranch’s realtor has dubbed The House of Roses as a “horse owner’s dream property,” with the estate including seven horse stables with automatic waterers, a box stall with an attached 30-foot covered run, a 14,000 square-foot riding arena with shock absorption, a riding ring encircled by steel-board fencing, a 60-foot round training area, and circular driveway for loading and transporting horses and supplies. The estate also has multiple horse corrals and is adjacent to a 2.3 mile trail that is accessed via a remote-controlled gate.

As for the home itself, it comes in at an impressive 8,199 square-feet that includes six bedrooms, eight baths, a four-car garage and a separate guest cottage. It was originally constructed in 2003, and in 2016 was purchased and renovated by Jessica and Josh Pianco; Jessica is the daughter of the late Stan Mallin, original co-owner of Caesar’s Palace.

The home also has two staircases accessing the second floor, several balconies overlooking the horse pastures and training areas, a master bedroom with a fireplace and outdoor seating area, in addition to a den and office space. Aesthetics include rustic wood accents, archways, several courtyards, and backyard views of Lone Mountain and Red Rock Canyon’s Spring Mountain ranges.

LAS VEGAS, NV – The Palms Casino Resort, which has sat closed and unused near the Las Vegas Strip since closing due to the COVID-19 pandemic in March 2020, has announced that it will now be reopening in 2022 under new ownership.

The Palms, which originally opened for business in November 2001, catered to local residents and tourists, in addition to becoming popular among celebrities and young adults. It opened with a casino, restaurants and nightclubs, and a 42-story hotel. Over the years numerous additions were added, including a second tower, a recording studio, a movie theater, a music venue, and a high-rise condo hotel.

Nevada state government ordered casinos to close in March 2020 due to the COVID-19 pandemic, but while casinos were allowed to begin reopening a few months later, the Palms remained closed while then-owner Red Rock Resorts waited for the local economy to improve.

In May 2021, Red Rock announced that it would be selling The Palms to the San Manuel Band of Mission Indians – a federally recognized tribe of Serrano people in California – for $650 million in cash. The deal is still pending due to regulatory approval, but is expected to be finalized by the end of the year.

The San Manuel Band of Mission Indians anticipates reopening the resort in 2022, with a greater emphasis being placed upon gambling as opposed to nightlife, with the core demographic still being local residents.

The resort – which had a $600 million renovation in 2019 – located just west of I-15 near the Las Vegas Strip and features a casino, approximately 700 hotel rooms, and suites, a variety of restaurants, meeting and convention spaces, a 2,500-seat theater, a pool, and spa, other numerous other amenities.

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 report released recently by Las Vegas Realtors (LVR) indicates that the cost of condominiums and townhomes in Southern Nevada have broken an all-time record, showing a whopping increase of 26 percent year-over-year.

According to the report, as of October 2021 the median price of Las Vegas condos and townhomes was approximately $236,000, which represents a 26.5 percent increase over October 2020, when that number was at $186,500.

LVR President Aldo Martinez noted that, as home prices continue to climb in Las Vegas – the median price of existing single-family homes sold in Southern Nevada during October 2021 was $410,000 – people looking for affordable lodging alternatives have been turning to condos and townhomes, which despite their own prices increases still remain cost-efficient overall.

“Our home prices are still increasing, but they’re going up more gradually. Even though we’re slowing down a bit, home prices are still rising,” Martinez said. “Buyers looking for more affordable options have been turning to condominiums and townhomes, as witnessed by the median condo price of $236,000. As we’ve been saying for some time, the rate of appreciation we’ve seen this year is great for homeowners, and the low interest rates have been great for home buyers.”

The LVR report noted that the total value of all real estate transactions conducted in Southern Nevada during October 2021 was over $1.5 billion for homes and $204 million for condos, high-rise condos and townhomes. This represents an overall increase of 13.5 percent year-over-year increase for homes of 13.5 percent, and a very impressive increase of 37 percent for condos and townhomes.

Overall, however, supply of both homes and condos remains tight, and given the overall demand – while currently beginning to show signs of cooling slightly – are nonetheless expected to continue an upward trajectory.

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 – Once you’ve unpacked your last box and organized your belongings in your new home, the most strenuous part of your relocation is finished. However, your move is not quite complete until you handle some essential tasks that will help you settle comfortably. Use this list of practical steps after you arrive in your new living environment:

Making Home Improvements

First, thoroughly inspect your new property to see if there are any necessary repairs or improvements you should tackle.

1. Look for repairs and improvements you can DIY, such as painting the walls, replacing faucets, and changing out cabinet hardware.
2. Consider hiring a professional to clean your furniture. Search for “professional furniture cleaning near me” and read reviews to find a trustworthy cleaner.
3. Tend to your property’s curb appeal. Making upgrades to your landscaping, pressure washing and painting the siding, painting the front door, and other minor projects can make a big difference.
4. Boost the security of your household and property by installing a smart security system.

Knocking Out the Necessities

Make sure you get these essential tasks out of the way soon after arriving at your new home:

1. Find a DMV office nearby to update your license and registration.
2. Register your new address with the post office, and confirm that your mail is being forwarded to the correct location.
3. Make a list of all the local contacts you need handy should an emergency occur.
4. Learn about state and local taxes and other costs of living so you can prepare a budget.

Settling Into the Community

Finally, it’s time to get to know your neighborhood and community so that you can truly settle in!

1. Help your child transition smoothly into their new school routine.
2. Meet the neighbors. Throwing a housewarming party and taking gifts door to door are a couple of the surest methods!
3. Pick up a local newspaper or magazine to learn about your new community.
4. Make a plan for trying out as many local restaurants and coffee shops as you can in the first month.

If you’re like most people after a move, you want to settle into your new home and community as soon as possible. The tips and resources above will help you do just that. After tackling home repairs and improvements, taking care of administrative tasks, and exploring your neighborhood and city, you’ll be primed to comfortably kick off your new chapter.

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 new luxury resort-style condominium project is slated to be built in MacDonald Highlands in Henderson, which will be the first high-rise apartment building constructed in the city since the mid-2000’s recession if it is approved by the Henderson City Council.

The proposed $600 million Pinnacle Residences at MacDonald Highlands will be comprised of 183 units – spread out over two towers, one being 24 stories and the other 25 – currently in the planning process, will include underground parking.

The designs of the project have yet to be finalized, but Pinnacle Residences is to cater to the wealthy based on the current anticipated pricing plan; units are expected to start at $1.5 million and go all the way up to $13 million for penthouses, which will feature terraces with private pools and outdoor kitchens, outdoor dining and outdoor sitting areas.

The units will range in size from 6,000 square feet to 7,000 square feet, with three to five bedrooms and numerous amenities included, with the feel said to be “more like a luxury hotel resort.”

Currently, about 140 reservations have been made thus far, with prospective residents plunking down anywhere between $10,000 and $100,000 for units; it should be noted that these reservations are refundable until early 2022, at which time they will be converted into purchase and sales agreements with 25 percent down and the remainder due when the unit is complete and ready for move-in.

The Henderson City Council will review the plans for the project and potentially give their approval for it to proceed in December. If approved, the developers – Las Vegas and Mexico- based Azure Resorts and Canada and New York-based Luxus Developments – anticipate readying the site in early 2022 and starting construction in the third quarter of that year, with an expected completion date of summer 2024.

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 MSG Sphere, the high-tech entertainment venue that has been under construction off of the famed Las Vegas Strip for some time now, has entered a new phase of construction on its way to its anticipated 2023 opening date.

The project has progressed to a point that the steel structure that will support the venue’s interior LED display and multi-layered audio system has entered a concentrated point of development, MSG Entertainment said in a press release.

Upon completion of the venue’s concrete and steel domed roof late last month, developers on the project have transitioned to a section of the MGS Sphere that will support a hanger system under the dome that will house its significant multimedia presence, according to vice president for construction at MSG Entertainment Nick Tomasino.

“Completing MSG Sphere’s domed roof is a significant milestone because it allows us to begin the next phase of construction – building the steel framework to support the advanced audio and visual immersive technologies that will make MSG Sphere a first-of-its-kind entertainment destination,” he said.

When completed, the MSG Sphere will be a 400,000-square-foot, 18,000-seat, 360-foot-tall globe-shaped arena slated to be constructed on 63 acres of property located behind the Venetian Resort Hotel Casino on the Las Vegas Strip.

The exterior of the sphere will feature 36 miles of variable intensity LED lighting – the aforementioned exosphere – enabling the structure to allow outside spectators to peer through a transparent facade to watch the concert within; at higher lighting intensities, outside vision will be obscured.

The venue will typically not feature sporting events, but rather cater to musical performances and concerts; however, the occasional boxing or MMA contest could be held there if needed.

Originally slated to be opened in 2020, the project has fallen behind scheduling estimates and is now eying a 2023 opening date.

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 – “Sync Apartment Homes,” a new apartment complex that is slated to be constructed near the Aliante Hotel in North Las Vegas, broke ground this week, with a completion date estimated to be in the fourth quarter of 2022.

Development firms American Nevada Co. and Warmington Properties have teamed up to build Sync Apartment Homes; the two companies held the groundbreaking ceremony for the new apartment complex – located off Aliante Parkway and the 215 Beltway in North Las Vegas – on Tuesday, November 9 which, upon completion, will be comprised of 203 units with a number of high-scale amenities that are sure to attract scores of tenants.

Sync Apartment Homes is to be comprised, according to reports, of several two and three-story buildings built upon a 9.4-acre project site, and will feature attached garages and a resort-style pool area for tenants to utilize. The apartment units are to range in size from 815 to 1,338 square feet and are to offer competitive rental price points.

Sync Apartment Homes is one of three brand new multifamily apartment communities that Warmington Properties will complete in the Las Vegas area in 2023, bringing their total in North Las Vegas to twelve.

Apartment complexes such as this are, according to many real estate professionals, the key to solving the skyrocketing rental prices that Las Vegas is currently experiencing that are leading many to question the region’s long-standing reputation for affordability.

According to their website, Warmington Properties – via a group of residential building companies – has constructed approximately 40,000 homes in core markets throughout the West Coast of the U.S. They offer “professionally managed, lifestyle-centric communities” in many sought-after locations in Southern California, Las Vegas, Nevada, and Salt Lake City, Utah.

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 it comes to apartments in Las Vegas, they’ve never been more in-demand than they currently are now. And when it comes to what people are paying for those in-demand apartments, it seems that is yet another aspect of life in the Southern Nevada region that’s hit an all-time high.

Reports indicate that the prices of one-bedroom and two-bedroom apartments in Las Vegas have seen a 30 percent jump when compared to the same period of time just one year ago, representing a significant increase in a relatively short amount of time.

The average rent of a one-bedroom apartment in Las Vegas is approximately $1,800 per month, and the average rent of a two-bedroom apartment will set someone back about $2,000 per month; these prices represent a new all-time high for the city.

The reason for skyrocketing rent is simple – demand, which has been fierce as the COVID-19 pandemic ends and the economy continues to recover. Competition has been strong for rental units in Vegas, and landlords and property managers recognize that; as a result, prices have been creeping ever-skyward, because it’s a given that someone will be willing to pay.

Rent prices in Vegas are currently at the point where it is beginning to fuel serious worry about the city’s continued affordability, an aspect of life in the city that has proved until now to be most attractive for people from neighboring states such as California, where taxes can make life unsustainable for some residents.

However, developers have been working on multiple apartment projects in Las Vegas that, upon completion, will hopefully feed into the ongoing demand and, as a result, help to stabilize rent prices.

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.