Category Archive : Investing

LAS VEGAS, NV – Since the end of the recession and the recovery of the Las Vegas housing market after the the mid-2000’s housing bubble, real estate – and prices – have been steadily climbing, fuelled by intense demand as money and businesses continue to flow into the Southern Nevada region to take advantage of the opportunity that lies within.

With demand currently far outstripping demand, Las Vegas is threatened with eventually losing its attractive status as a city with a very affordable standard of living when compared to much of the United States these days. At the moment – and for the foreseeable future – property prices in Las Vegas are among the fastest-rising in the country, and developers have seen rapid and massive profits as available homes have been snapped up in record time.

In order to combat these concerns, local builders have been attempting to ramp up construction in an attempt to increase the available number of homes and apartments on the market; it is hoped that such efforts will stabilise the rapidly climbing costs of real estate in Vegas as of late. And in order address those concerns specifically, builders have begun to place a greater emphasis on lower-cost housing options when it comes to their construction plans, according to reports.

Of the communities that have been completed and opened in 2018, approximately 25 percent of them have advertised base asking prices below $300,000, which represents an increase of 12 percent in projects with such price points over the same period one year ago; the median sale price of a home as of the end of this past May was $369,990 – an 8 percent jump from 2017 – so it’s easy to see that any home that starts under $300,000 can be seen as a boon to new families attempting to get a fresh start in the Las Vegas region.

Part of the business plans that have resulted in these cheaper home prices center around less expensive land prices as areas that had been previously overlooked by developers toughing it out during the recession are being snapped up for bargains today. In addition, greater numbers of apartments and condominiums in circulation – increasing completion for the dollars of those looking for a new place to live – are also helping to stabilise new home prices.

Las Vegas’ skyrocketing economy and real estate market are a large part of what’s putting it back on the map after over a decade of dormancy during the recession; experts are starting to worry that its sudden and rapid growth and expansion may be a case of too much, too soon, so the fact that local developers and builders are taking note of this fact and – adjusting their output accordingly in order to curb this trend and help retain the affordability that Las Vegas has come to be known for – ensures that the region’s upward financial climb will only continue unabated.

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 – In an effort to address the ongoing housing crisis in Las Vegas, builders have been attempting to ramp up their efforts in erecting new homes and apartment complexes to meet the ever-growing demands in Southern Nevada as the local economy improves. The situation is ushering in new investors, companies, tourism, and – most importantly – newly-transplanted residents keen to take advantage of Vegas’ thriving job market, and as a result living options are scarce and prices are skyrocketing.

Builders are seeing progress in their efforts to balance local real estate scales, as four towns in Las Vegas are ranked in the two 20 in the United States in terms of builder sales for 2018, according to reports.

The numbers for local builders are also impressive, and clearly speak for themselves; as of the end of June, sales in Summerlin were ranked as the third highest in the nation among master-planned communities at 772 homes sold, representing a jump of 64 percent over a one year prior. Inspirada – a master-planned community located within Henderson – comes in eighth in the U.S. with a 21 percent increase from 2017, boasting 475 homes purchased. Another Henderson-based community, Cadence, ranks 12th with 334 homes sold, an increase of 45 percent. Finally, coming in at 17th in the nation is Skye Canyon with 284 homes purchased; currently, it is not known home much of an increase this is over the previous year’s sales for this community, which is located in the northwest Las Vegas valley.

Due to a the current lack of housing options on the market, most available homes and apartments are being snapped up, and landlords and sellers in the region are taking advantage of demand by charging – and receiving – premium prices. Initially, builders appeared ill-equipped to handle the production of additional housing units to appease demand, in-part contributing to the cutthroat sales environment holding Vegas in its grasp. However, these new sales figures suggest that builders are finally hitting their stride and will hopefully continue to deliver adequate amounts of new residences to the point that prices begin to stabilize and eventually subside to a degree.

But in the meantime, housing in Las Vegas will still be on a first-come, first-served basis for the foreseeable future, and buyers will find themselves paying through the nose more often than not…bearing in mind that housing prices in Las Vegas – as well as the overall cost of living – still remain below the national average, especially when compared to neighbouring markets such as California, where the cost of living is driving more and more residents out-of-state and into more affordable regions, such as Nevada.

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 –  According to reports, a light-rail system set along the Maryland Parkway corridor is currently being mulled over by Clark County city officials; if brought to fruition, the project would connect the downtown area with the University of Nevada, Sunrise Hospital and Medical Center, and McCarran International Airport. This development is seen to represent a major boon to the region, as once up and running, the nearly 9 mile, $750 million project could possibly result in upwards of $3 billion in local investments in offices, retail, entertainment, and housing development along its planned route. These estimates are based upon the positive financial impacts that similar railway projects have had in other American cities, including Denver, Colorado and Phoenix, Arizona.

The Regional Transportation Commission is currently set to announce their decision on the railway in September; if approved, the project is slated to be up and running by 2025. There are no indications yet if the RTC is leaning one way or the other on the potential light-rail system, but it’s known that they are also considering other, more cost-efficient choices to improve transportation along the Maryland Parkway corridor – an area that many experts feel is ripe for development – including a roadway improvement initiative with an estimated cost of approximately $29 million; however, the addition of some much-needed rapid transit lanes for buses could possibly run an additional $335 million. Expensive, yes, but still cheaper than the proposed train line.

However, the railway system has a great many supporters, and development is already underway; G2 Capital Development has invested heavily in this regard, as they are currently building University Gateway, a $60 million, eight-story mixed-use project along the Maryland Parkway corridor, in addition to a parking garage nearby. G2 has also purchased commercial development situated along the parkway – Campus Village – that may see a face-lift in the future if business warrants it. If the railway project comes to light, developer Mike Saltman has also announced his intention to construct a shopping center at one of the railway stations.

While $750 million isn’t chump change, the taxpayers of Clark County likely won’t have to foot the entire bill if the RTC approves the project; currently, county officials are looking into the possibility of acquiring a federal New Starts grant that could cover up to half of the costs associated with the project. In addition, local residents may get the chance to cast their votes for or against a possible hike of sales taxes that, if passed, would also contribute to the costs of the light-rail system. But before any federal grants would be applied for, the plans for the project would have to pass scrutiny in terms of any possible environmental impact they may have upon the proposed route, as well as review any public concerns along with any potential alternate projects.

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.

Financial Behemoth “Blackstone Group” on Las Vegas Real Estate Buying Spree; Snapping-up Properties Left and Right

LAS VEGAS, NV – The Blackstone Group, a New-York-based real estate and financial behemoth – currently holding $450 billion in assets under management – has been on a spending spree in Southern Nevada recently, snapping up properties left and right as the surging economy in the region has been driving up home and apartment prices. Clearly, Blackstone sees opportunity and is determined to get in on the action in a big way.

In recent years, Blackstone has acquired a slew of single-family homes – many of which were used as rentals – as well as Hughes Center office park, the Cosmopolitan of Las Vegas, showroom World Market Center, multiple apartment buildings, and in May of this year, two Henderson hotels- SpringHill Suites and TownePlace Suites, a deal reportedly worth $36 million.

Apartment buildings are picking up steam in terms of sales as of late; reports indicate that in an 11-day stretch of time, $260 million in rental-based real estate – accounting for five apartment complexes – changed hands among investors; of the five apartment complexes purchased, Blackstone bought the Northwest valley complex Xander 3900 for $69.5 million, reports say.

This development leaves no doubt as to how red-hot the rental scene is in Vegas these days. After all, with the economy booming and new businesses setting up shop in large numbers, people looking for jobs in a hot market – in addition to the attractiveness of Southern Nevada’s relatively low cost of livings when compared to other parts of the U.S. – are transplanting themselves en masse, and just as anywhere else, these people needs places to live.

But that’s not all when it comes to Blackstone’s ambitions in the Las Vegas rental market– since spring of 2017, they have spent a total of $616 million in acquiring rental properties in the region, with their most recent purchase being Solis at Flamingo in the eastern part of the Las Vegas Valley to the tune of $72 million, which represents an increase of over $20 million of the amount paid by the seller just three years prior; clearly, home prices aren’t the only values skyrocketing in the area.

Part of the attractiveness of Vegas’ rental scene for investors is the fact that, despite steadily rising prices, the market is nonetheless still much cheaper than many other parts of the country. With omnipresent construction taking place in an effort to meet the rampant demand from buyers and renters alike, Vegas is experiencing a real estate boom that, while still not at pre-recession levels, is getting close and, according to experts, will eventually overtake those levels unless some unforeseen circumstance occurs. But the bottom dropping out is unlikely, because even though the economy of the region is still largely tourism-driven, industry and the job market are taking hold in a big way not seen in decades, ushering in an era of stability that suggests regular long-term economic growth. Exactly why investors are pouring money into Las Vegas these days.

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 – Area 15, a new 126,000-square-foot science-fiction themed retail and entertainment complex slated to offer an “immersive” environment for attendees, officially broke ground on construction on last week with a scheduled opening date of spring of 2019, according to reports.

The complex, located on a 40 acre lot in the vicinity of the Las Vegas Strip on the corner of Sirius Avenue and Rancho Drive, is a joint venture between real estate development firm Fisher Brothers and creative agency Beneville Studios, both based out of New York. Area 15 – the name obviously being a playful take on the infamous Area 51, a secret U.S. Air Force base located in the Nevada desert – is expected to attract a variety of visitors by means of a unique mix of conventions and expos focusing on sci-fi, fantasy, and comic books; in addition, music performances, corporate events, large-scale art exhibits, bars, nightclubs, and restaurants are expected to round out the package. Retail will also have a footprint at the new facility, although details on that aspect has yet to be made public by Fisher and Beneville, aside from announcing it as being a “radical re-imagining” of the concept of both retail and entertainment.

A major anchor tenant in the form of Meow Wolf – a multimedia production company that specializes in creating interactive experiences combining real-world sets and architecture with virtual reality and specialized sound – announced their signing and involvement in the Area 15 project, and it’s likely going to be the first of many, given the facility’s 68,000 square feet of leasable ground floor space, 58,000 square feet of mezzanines and a 40,000-square-foot indoor-outdoor event area that can accommodate up to 3,000 attendees for a variety of event types, including music performances and festivals, corporate shin-digs, and international video game tournaments, among more. Plans are to host over 100 events a year, with parking in the form of over 800 complimentary spots available for attendees.

The Area 15 project is slated to be an “evolution” of the concept of the American shopping mall; with the average attendance at malls down by shoppers in favor of buying items online, Michael Beneville of Beneville Studios noted that in order to keep the concept alive, it needs to evolve with the times and offer cutting-edge experiences that online options can’t compete with.

“The mall of America isn’t dead,” he said. “It just needs to be reinvented. People don’t want to be spoon-fed their entertainment. They want to interact with it.”

Details on Area 15 beyond those in this article are still scarce, however, with promotional material claiming that the complex will offer an “immersive and unique experience” that would “appeal to a variety of clientele, including gamers, comic-con and sci-fi enthusiasts, artists, music and festival lovers.” But with a large amount of construction already slated to and currently taking take place in Las Vegas – with hotels, casinos, convention centers, and more slated to open soon – it remains to be see how and if Area 15’s somewhat mysterious concept will compete.

LAS VEGAS, NV – According to recent reports, the real estate market in Las Vegas is still on an upwards trajectory with little sign of slowing down; substantial year-to-year gains in terms of the value of properties in Southern Nevada are eclipsing almost every other region in the United States, speaking volumes to the fact that Vegas is a hotbed of housing activity in 2018.

Overall, real estate in the United States is skyrocketing, and even in such an environment Las Vegas is standing out; currently, it is ranked number two nationally in property value appreciation, up 6.3 percent in February 2018 from the same period of time one year prior. This is equal to a previous jump in December, which represented the biggest gain in home appreciation in Vegas in almost three years, making it second only to Seattle, Washington. Coming in third is San Francisco, California.

The gains in home values in Las Vegas can be attributed to a number of factors, with experts mainly citing the improving economy resulting in steadily-increasing jobs – which, in turn, is attracting new transplants to the area – as well as an increased amount of young millennials leaving home and getting their own places. And, of course, there is that old adage that supply and demand sets the price; March 2018 saw an increase in home sales over February, although that overall number was lower than a year ago simply due to the fact that there currently aren’t enough properties on the market to satisfy the growing need.

As far as the prices of homes overall, April recorded a whopping 2017-2018 year-to-year increase in April of 16.1 percent, with the median sales price of a single-family home coming in at $289,000; this represents a 3.2 percent jump from March. As for actual sales, 2,878 homes were sold in April, which was a decrease of 8/7 percent from the month prior but still an uptick of approximately 0.4 percent from last year. As for inventory, 3,816 single-family homes in Las Vegas were up for sale but were without offers in April, representing a drop of 0.5 percent from March, and 24,9 percent from the same time one year ago.

But while this is all good news for dabblers and investors in the real estate market, it spells potential issues for actual home buyers, as the gains to home values reported for February signify that they are rising at a level that is currently greater than respective gains in terms of both inflation and the average pay level for the region. While this obviously doesn’t make buying property for the average family impossible, if appreciation continues at this level for the foreseeable future buyers may have to make more frugal choices in terms of lodging. For example, due to increasing mortgage rates, more and more people in the United States are opting to renovate their homes as opposed to selling them, and less families are selling their properties because – especially in areas like Las Vegas – the supply currently hasn’t caught up to demand, yet, although many developers are doing their best to try.

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 – With the imminent arrival of the soon-to-be former Oakland Raiders National Football League team in Las Vegas causing quite a stir in both the tourism and business industries, and their new home stadium – with construction already having broken ground – expected to draw even more visitors and companies to Southern Nevada, a noted bond credit rating business, Moody’s Investor Service recently announced that the already skyrocketing local economy will continue to improve once Las Vegas Stadium, to be located at Interstate 15 and Russell Road, finally opens its doors for business in 2020.

In a recently released report, Moody’s Patrick Liberatore noted that the new stadium, in addition to a future Las Vegas Convention Center expansion would serve as a hub for a revitalised event scene, allowing the city to host a wide variety of different sporting events, concerts, and business and entertainment-based conventions sure to attract numerous tourists to the region.

Clark County expects the new NFL stadium will be a notable new draw for consumers and visitors,” he said. “In addition to professional football, the approximately 65,000-seat stadium will compete to attract other large-scale sporting events and also provide the Las Vegas area with its first major facility that can accommodate other large-scale events, like major music tours.”

The report released by Moody’s, which encompasses 10 pages, confirmed that tourism in the Las Vegas region is up to levels that manage to exceed numbers obtained before the mid-2000’s recession that rocked the region – and especially the real estate market – with the number of visitors to the city’s hotels being considered “consistently strong,” according to the report. This fact is especially telling in light of the recent October 1 mass shooting during an outdoor concert having a temporary yet detrimental effect on tourism in Las Vegas.

However, that tragedy does not appear to be having an effect upon the progress of the construction of the Las Vegas Raiders’ Stadium, with reports indicating a recent sale of $650 million in bonds to help pay for the nearly $2 billion, 65,000-seat project was a rousing success, all of the bonds on offer by Clark County being purchased within only an hour-and-a-half by 43 investors. The bonds constitute a major portion of the $750 million in public funds that are being contributed to the cost of the stadium, and are set to mature over a period of 30 years at an average interest rate of 3.94 percent. The reminder of the funding for the stadium project is being provided by Raiders management.

As is plainly apparent, the resurrection of the Las Vegas economy and its tourism industry are going hand-in-hand, with financial growth leading to a booming job and real estate market, and the arrival of new businesses, residents, entertainment options and professional sporting teams are only serving to attract more visitors – and their dollars – to Southern Nevada.

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 – In a city where seemingly every building or attraction is constantly fighting for your attention, the one that may rise above them all in terms of spectacle will be opening its doors in 2020, as plans for the futuristic music venue MSG Sphere – due to begin construction later this year – was revealed to the public this week.

The MSG Sphere, a joint venture between Sands Corp. and Madison Square Garden, 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.

Judging by the conceptual renders supplied by the Madison Square Garden Company, the MSG Sphere, once completed, will truly be a unique attraction in a city known for many, as well as an unbelievable sight to behold in its own right. The exterior of the sphere will feature 36 miles of variable intensity LED lighting, 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. In addition, images of Las Vegas taken via a camera system could be projected upon the sphere as well.

MSG Sphere, 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; Photo credit: The Madison Square Garden Company

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. Interactivity will be emphasized via high-speed wi-fi access for each and every seat, enabling concertgoers to constantly and easily document their experience on the social media platform of their choice, posting comments, photos, and video clips to their followers with ease.

Inside, a 180,000-square-foot ceiling will feature massive video screens for attendees to watch, and a floor-installed bass speaker system should appeal not only to those taking in a concert, but club-goers on evenings when electronic dance music acts take the MSG Sphere stage, giving the music venue a multi-genre and event capability.

And in addition to the MSG Sphere being dazzling to behold in a visual sense, it’s also planned to be just as impressive from an aural perspective as well; the venue will feature an acoustics technology developed by the German company Holoplot known as “beamforming audio,” a technology that sends sound directly to a specific location via planar audio waves. Going beyond the experience of standard stereo speaker systems, the transmission of audio using beamforming tech is being touted as so precise that individuals seated in the same vicinity could hear completely different sounds while taking in the same performance.

Parking for the venue will make use of facilities at nearby casinos, utilizing 12,101 spaces divided up among the Venetian, Palazzo and Sands Expo Center garages as per zoning and land use permits issued in February by Clark County city commissioners; in addition, owners of the MSG Sphere will create an additional 304 spaces on their own property to supplement their parking needs.

Looking for relocation information on the fast-growing Las Vegas market? New home recommendations? Las Vegas apartments, condos even area nightlife and entertainment expectations? Please feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – Huntridge Shopping Center, located in downtown Las Vegas at 1116 E. Charleston Boulevard, has a reputation for being on the “wrong side of the tracks,” so to speak. However, J Dapper, the owner of Dapper Companies, is about to change all that with an extensive remodeling of the property which has local residents strongly voicing their support.

In 2016, Dapper purchased the 62,000-square-foot center from owner Paul Kellogg – who also runs the Huntridge Tavern on the property – for $5.2 million, and has since been planning a massive face-lift to the property that has only recently begun to take shape. With the planning stage complete, Dapper has recently been wooing several high-profile retail, dining, and entertainment entities to set up shop in the center in order to complete his vision of a fancy, high-end, and artistic addition to downtown Vegas.

Dapper is no stranger to the historic Huntridge neighborhood of Downtown Las Vegas; to date, they have invested at least $10 million in three commercial real estate properties in the vicinity of Charleston Boulevard and Maryland Parkway, including the $2 million renovation of the Gamblers Book Shop, which Dapper as referred to as a “passion project.”

As for the Huntridge Shopping Center, Dapper has said that he’s approaching the impending remodeling with a flair for the dramatic; seeking to bring out and highlight the property’s mid-century design aspects with a modern twist and a family-friendly atmosphere, including a large, $375,000 neon sign in the Googie style, which is a retro-futuristic aesthetic that was popular in the 1940’s through the 1960’s. The eye-catching style, which emphasized up-swept roofs, curvaceous, geometric shapes, and bold use of glass, steel and neon, was embraced by Vegas of years past, but has been largely abandoned in recent decades.

New tenants to the Huntridge Center, which are expected to help revitalize the property and attract traffic, include several eateries such as an Asian-themed restaurant, a Wingstop chicken franchise, and an establishment by Restaurateur Harwell. In addition, several original tenants remained after the sale, including a pharmacy and barber shop; both have been relocated to other areas of the center in an effort to re-shuffle tenants to make room for new additions, and both are in the process of being remodeled as well. Other business holdovers also include the aforementioned Huntridge Tavern and a thrift store.

Dapper also purchased other properties adjacent to the Huntridge property, including a former drum shop, a residential fourplex, and an empty commercial building; some of these buildings will be incorporated into retail aspect of the shopping center, while the fourplex is in the process of being torn down to make room for additional parking.

Another process Dapper has used in attempts to drum up new interest in the Huntridge Center is the addition of Food Truck Fridays, which involves a number of vendors on wheels who visit the property on certain Friday afternoons to peddle their tasty wares, including Blue Mahoe BBQ, Bulldog is Unleashed and Dazzling Bistro.

The Huntridge Shopping Center remodeling and revitalization efforts are expected to be complete in early-to-mid 2018.

Looking for information on the fast-growing Las Vegas market? Interested in whether or not Vegas is moving into your theme of living style and entertainment values?  Please feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – Sitting vacant and unfinished on the Las Vegas strip since 2009, the proposed Fontainebleau Casino and Resort had become synonymous with the national recession that had hit the Southern Nevada region especially hard. However, this week, it was announced that New York-based real estate firm Witkoff – in conjunction with Miami-based investment firm New Valley LLC – has stepped in, and they will finally be opening the property, re-christened as The Drew and managed by Marriott International.

The 68-floor luxury resort, boasting almost 4,000 rooms and suites managed by Marriott International, is located near the Circus Circus, SLS hotel-casinos, and the Las Vegas Convention Center; construction on the $2.9 billion Fontainebleau property had begun in 2007 by privately held Fontainebleau Resorts LLC, but indefinitely halted two years later when the recession brought a halt to the proceedings, forcing the project into bankruptcy. In 2010, Icahn NV Gaming Acquisition LLC, headed up by businessman Carl Icahn, purchased the Fontainebleau in 2010 for $150 million, and then sold it off to Witkoff and New Valley for $600 million in August.

The two companies announced the plans for the property – now called The Drew – slated to open in 2020 and will feature many amenities including a casino, approximately 4,000 rooms and suites, 500,000 square feet for holding events such as conventions and business meetings, and a great number of entertainment options for guests, including a theater, retail areas, and over 20 different dining options. The property will be managed by Marriott Corporation, and will also be home to two Marriott brands as well, both making their Las Vegas strip debut- JW Marriott, a luxury hotel chain that a brand of Marriott International  named after John Willard Marriott, the founder of Marriott Corporation, and Marriot’s upscale, boutique-style “Edition” brand.

John Unwin, a well-known member of the local hospitality industry, has been brought in via Two Blackbirds Hospitality to oversee the development and day-to-day operations of the launch. Along with The Drew, another neighboring resort/casino project is also slated to open in 2020 – Resorts World Las Vegas, a project targeting predominantly Chinese and Chinese-American tourists that has also experienced its share of delays. The two properties are expected to help fill out the northern end of the Las Vegas strip, until now a less visited part of the city by tourists.

In addition, the Las Vegas Convention Center, which is currently undergoing large-scale expansion efforts, is also expected to see completion within the same time-frame, with plans for a bridge connecting The Drew to the facility being in the works. With these three projects slated to open all within a short period of time of one another, experts are projecting a large increase in visitors to the area within the next few years. It’s projects such as these – ones that have lain dormant for years, now experienced a resurgence and entering their final phase of development before opening – that cement Las Vegas as a region that holds near-limitless promise.

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 – Several esteemed news organizations have done their homework and produced their annual “Hottest Real Estate Markets of 2018” lists, and what may come as a surprise to some – but a no-brainier to most – is that Las Vegas has topped many of them.

One noted publication that has predicted Las Vegas as the number one real estate scene in the nation for 2018 is Realtor.com, and among the criteria stated for their pick were prices verses the number of existing homes; new home construction; and local economic trends, all of which were taken into consideration when it came to deciding which region in the United States would generate the most competition and revenue over the course of the next 11 months.

Realtor.com stated that homes in Vegas are being snapped up as quickly as they hit the market, with 2017 seeing the third highest level of sales ever seen in the Valley. Experts are predicting even better from 2018, and buyers are going to have to act fast – and anticipate some degree of disappointment – if they want to get in on the action, as demand is high, yet supply limited. Real estate brokers are encouraging prospective buyers that competition will be fierce and getting offers in early and fast will be the key to scoring a property…or losing it by a hair to an even more bloodthirsty buyer.

In addition, Fortune Magazine has also listed Southern Nevada as a region with a real estate market that investors should seriously think about getting involved in- they noted that Vegas saw prices of homes jump a whopping 10.6 percent from November 2016 to November 2017, outpacing other well-known hotbeds of property-buying activity such as San Francisco, whose prices went up 9.1 percent during the same time period. Rampant Vegas home and apartment development in an attempt to keep pace with demand, as well as a flourishing economy and job market, are considered major strengths that will bleed over into increased real estate demand as well.

And finally, USA Today has weighed in on the 2018 real estate scene, declaring Las Vegas an early winner of the race as well, noting that forecasts are calling for the market in the region to remain strong for the foreseeable future, with prices of homes continuing to rise throughout the year as demand continues to grow; median home values in Vegas are expected to rise approximately 5.8 percent over the next year, showing that investors have a great deal of confidence in the strength of the market. In fact, home values in Vegas increased 8.6 percent during the last year, with the price of a median home coming in at approximately $285,045.

As you can see, if you’re looking to invest your hard-earned dollars in a white-hot real estate market in 2018, the experts have spoken- Las Vegas is indeed the place to do it. And with a financial forecast this bright, is stands to reason that 2019 and beyond will to continue this upward trend as well.

If you are considering relocating in or around the Las Vegas area, our company would be delighted to help you find your way or pick the best place to settle in or find your dream home. Please give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – Taking advantage of the popularity of “house flipping” shows – that is, programs that chronicle the happenings when people purchase a home to fix up and quickly sell for a profit – HGTV decided to make a spin-off of its hit series Flip or Flop by tying it into a region experiencing a rapid period of growth in terms of real estate; thus, Flip or Flop Vegas was born, debuting on HGTV on April 6, 2017 and instantly finding a loyal audience, earning 12.5 million viewers since its premiere.

Filmed in and about Las Vegas, Nevada, Flip or Flop Vegas features the husband and wife duo of Bristol and Aubrey Marunde as they go using their years of real estate experience flipping various properties in each weekly episode, all under the watchful eye of a professional camera crew. Aubrey is a real estate expert and designer, while Bristol – a former Mixed Martial Arts fighter – is the contractor and handles design as well. With the first season proving to be a ratings winner with audiences, HGTV announced after the finish of season one that Flip or Flop Vegas would be renewed for a second 16-episode season – upgraded from 13 episodes in season one – set to debut this March.

High demand for Las Vegas real estate, combined with ever-escalating prices, have contributed to an intense buying and selling environment unlike near anywhere else in the United States; Aubrey Marunde noted in an interview that such a competitive area was ripe for a television show chronicling the cutthroat attitude and drive a flipper must have when it comes to snatching up distressed properties, renovating them, and getting them back on the market to sell at profit as quickly as possible.

“Vegas is a very, very fast-paced market. There are so many opportunities and they present themselves daily. You have to be ready to jump on them, because if you don’t, somebody else is going to,” she said. “So our fast-paced market here is much different than other places around the country and I think that people watching are going to see that. Our properties sell in hours, rather than days or months here. That’s very unique to the show.”

After the couple’s exploits in season one, the Marundes now find themselves in a Las Vegas that is even more intense in 2018; in fact, Aubrey stated in a recent interview that Vegas is now the country’s “harshest“ real estate market in terms of the speedy time frame needed to execute a successful flip…if you slow down to catch your breath, she noted, you stand to lose countless dollars from your investment.

“Things move so fast in Vegas. You can have an area that’s booming, and something opens next door to it and you start seeing declining value,” she said. “You have to be really careful about which property you select and what you put into it — and how fast you get it on and off your books.”

The couple’s average time to flip a property these days tends to be about three weeks; once on the market, their average sell time is five to seven days.

Going along with the flashy image that Vegas portrays in the media, the design aesthetic the Marundes’ bring to their typical flip can be summed up in one word: “glam,” with lots of chandeliers and lighting and hardware in order to deliver an over-the-top result that has garnered the two quite the reputation…not to mention demand for their work.

A good example of the magic the two can work on a property is a recent job they did in Boulder City in Clark County; as will be shown in an upcoming season two episode, Aubrey and Bristol discovered a 690 square-foot house originally built in 1940, which they purchased with the intent to maintain the old-school charm the property possessed during its renovation. The plan is to double the house’s size with the additions of two new bedrooms and a new bathroom, in addition to replacing the windows, adding a porch, as well as other upgrades and embellishments.

The Boulder City home was purchased for less than its list price of $95,000; when the renovation is complete, Aubrey and Bristol said that they hope to flip it for $300,000. And considering the explosive state of the Las Vegas real estate market, it’s likely that they will get it. Flip or Flop Vegas season two will air on Thursdays this March on HGTV.

With Las Vegas taking the top spots nationally, we are here to help you find out all you need about getting into this hot market, handle your rentals, or buy and sell property locally. Please feel free to give us a call at 702.376.7379 so we can answer any questions you may have.