Category Archive : Real Estate

LAS VEGAS, NV – A massive, lavish ranch located just south of Las Vegas that was once owned by legendary entertainer Wayne Newton has been listed on the market by Nevada-based Smoketree Group for an eye-popping $31.3 million.

The ranch – situated at 6629 South Pecos Road on a 39.5-acre plot of land – was originally built by the world-famous actor and singer in 1966, and was dubbed “Casa de Shenandoah” during the time that he lived there.

The ranch started out small at first – with just his Southern-style mansion initially located there – but over the years Newton expanded to match the opulence that “Mr. Las Vegas” himself is known for by adding an additional eight homes, a horse stable with 50 stalls, a museum for his collection of 100 cars, a facility for exotic animals, and even a runway for his private jet.

In 2010, a firm called CSD purchased Casa de Shenandoah for $18 million, with plans to change it into a public attraction similar to Elvis Presley’s Graceland, with plans for Newton to continue living there while retaining a portion of the property’s ownership.

However, the star soon entered into a lengthy legal battle with one of his business partners over the Newton Museum project, and when the matter was finally settled in 2018, Casa de Shenandoah was then closed to the public.

Smoketree later purchased the estate for $5.56 million in 2019, only to turn around and list it a year later for $29.9 million. The property failed to sell – even after several reductions to the asking price – and it was later removed from the market in February 2022.

Smoketree re-listed it in 2023 for $28.5 million, eventually pulling it once again when there were no takers; however, with the greatly increased number of sales in the Las Vegas ultra-luxury home market recently, their latest attempt to sell the property may finally be met with more success.

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

LAS VEGAS, NV – As the profile of Las Vegas has risen considerably in recent years, prompting many to want to move there to take advantage of its lower cost of living, the city has encountered a housing crisis as demand is currently far outstripping the amount of inventory available to would-be homeowners.

And one of the primary reasons for this crisis, according to a growing number of those in the real estate industry, is due to the Bureau of Land Management (BLM), with the federal agency currently managing nearly three million acres in Clark County; the U.S. government currently owns 80 percent of the land in the state of Nevada overall – the most out of any state in the country – and 88 percent of Clark County.

Mike Ford, co-owner of Las Vegas-based public lands consulting firm Abbey, Stubbs & Ford and a former BLM employee, said there is currently no good reason for the federal agency not to release more land for development in Clark County than they already have, which would go a long way towards alleviating the housing shortage currently plaguing local residents.

There’s 2.9 million acres of BLM land in Clark County, and that’s what we really need to focus on because land managed by the other (federal) agencies is generally not available for disposal because it has environmental attributes or it’s part of a congressionally designated special management unit,” Ford said.

In 1998, the Southern Nevada Public Land Management Act (SNPLMA) was passed that set aside approximately 67,000 acres out of the 2.9 million available in the Las Vegas Valley for development of residential housing units or commercial uses, with an additional 33,000 acres that have also been earmarked for potential development that have not yet been released.

The idea was for the BLM to be totally out of the urban land management business in the valley within five to 10 years,” Ford noted. “And that hasn’t happened.”

Multiple members of Las Vegas’s real estate industry have become increasingly vocal with their complaints over the two main issues they claim are affecting the shortage of land in the valley: zoning issues and permit delays that are seen as restrictive on the part of Clark County, and BLM’s seeming reluctance to set aside more land for residential or commercial development, either by releasing it outright or allowing it to go to auction.

When you have 2.9 million acres of land in Clark County, some of it environmentally sensitive land, which is really important, managing rural lands, why would (the BLM) spend 90 percent of the time on the 67,000 acres that are urban lands that are better managed by local units of government?” Ford said. “That’s the million-dollar question.”

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 Las Vegas home contractor is facing felony charges after he allegedly bilked numerous clients out of a combined total of over $200,000 in payments for remodeling work he never completed…and all with a license that had previously been suspended back in January, officials say.

Gabriel Adame – owner of Adame Handyman Services, AKA Adame Construction – was taken into custody by authorities last Wednesday following a disciplinary hearing with the Nevada State Contractors Board over funds he purportedly stole from clients for work he never bothered to finish.

Adame and his attorney had accepted multiple charges in February after complaints were filed against him by multiple homeowners, with some claiming that the contractor had left them with as much as $35,000 in uncompleted remodeling work.

At the hearing four months ago, the judge presiding over the complaints, Noah Addison, listened to the tales of five of Adame’s alleged victims, many of whom were very angry over what they said were his deceitful and criminal business dealings with them.

One Las Vegas homeowner, Emily Moon, when asked is she had anything to add about the accused, declined, saying that, “I don’t think I want those words on record.”

Director of Investigations for the Nevada State Contractors Board, Terry Wike, noted upon Adame’s arrest last week that his organization had been looking into the contractor’s activities for quite some time, and wanted to make sure that they had all of their ducks in a row before finally having the cuffs slapped on him.

The investigation took more than a year. We have recently filed five charges against Gabriel Adame for his acts in taking money from homeowners and not completing work,” he said. “There’s a variety of levels of uncompleted work. He would take a down payment, and he would not complete the work.”

Wike said that homeowners should be very cautious when looking to have remodeling work done on their homes, making sure that they use common sense when it comes to issuing down payments and to thoroughly vet any contractor before having dealings with them.

You can’t take a down payment in excess of $1,000 or 10 percent of the value of the contract, whichever is less. We were often seeing down payments of 50 percent of the price of the project,” he said. “Make sure all your contracts are in writing, and they include scheduled payments. That’s so the payments don’t get ahead of the work.”

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 sale of the Anthem Country Club home of former Las Vegas Raiders head coach Josh McDaniels for $4.8 million was the highest-priced residential transaction in the valley in May, according to new real estate figures that have just been released.

Despite the seemingly impressive payday, McDaniels actually came out on the short end of the deal, selling his home for a loss after initially purchasing it two years ago for $4.95 million.

The residence, located on a half-acre in Henderson’s high-end Anthem master-planned community, is a one-story, Santa Barbara-style home originally built in 2005 that offers 6,705 square feet of space and has four bedrooms, six baths, an office and a three-car garage.

The home boasts a wide array of lavish and high-end amenities, including a movie theater, billiard room, wet bar with pocket doors, and wine chillers. The large, well-equipped kitchen is designed for entertaining guests and features a walk-in pantry, butler’s pantry, and breakfast nook, marble flooring and a Sonos® surround sound system controlled by an iPad that includes both indoor and outdoor speakers.

In addition, the extensive backyard includes a covered patio, pool, spa, built-in barbecue area with a fireplace, and views of the nearby golf course.

The sale marked the end of McDaniels’ residency in Las Vegas following his public firing as the Raiders’ head coach halfway through the 2023 NFL season. At the time of his ouster, he had only helmed the Raiders for less than two years, but during his tenure he was criticized for his team’s inability to hold leads and close out games; he finished his time with the Raiders with a record of 9–16.

Before purchasing his Anthem Country Club home, he had previously considered living in Southern Highlands.

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

LAS VEGAS, NV – After failing to sell earlier this year for its asking price of $2.5 million, the former Las Vegas home of comedy legend Jerry Lewis has now gone to auction with a current starting bid of $1 million.

Its current owner, Australian private lending firm Brumbies Capital, originally purchased the home of the late “King of Comedy” – who resided there for 35 years until his death – in September 2023 for $2 million.

The 7,230 square-foot home – located in Las Vegas’ swanky Scotch 80s neighborhood and boasting an impressive six bedrooms and six bathrooms – initially had difficulty in finding a buyer following Lewis’ passing in 2017 at the age of 91. It was eventually sold to Jane Popple in 2019 for $1.2 million, and then auctioned off for the sum of $2.5 million; however, when the winning bid fell through, it was listed on the open market for $1.8 million.

Thereafter, the property, 1701 Waldman Ave, Las Vegas, was sold to Iddo Gavish of Century 21 Gavish Real Estate for approximately $1.4 million. Gavish subsequently modernized the home, making several large-scale updates to the landscaping, gates, pool, master bathroom and kitchen.

Later, the home was purchased by Blooming Desert LLC in 2021 for $1.4 million, and then put up for sale for a brief amount of time in 2022 for an asking price of $2.7 million; the home was later sold by Nevada Trust Deed Services in a foreclosure sale to Brumbies Capital.

The two-story residence – built in 1954 and located at 1701 Waldman Avenue – will be holding an open house on June 29 followed by an offer presentation, with the formal opening bid set at $999,999 with an undisclosed reserve price that will only be made public if it is met, reports say. Bidders are required to pre-qualify or provide proof of funds.

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

LAS VEGAS, NV – According to new census data, Mesquite, a city in Clark County located just northeast of Las Vegas, is the fastest-growing in the entire state of Nevada, and at its current rate of expansion it could potentially see its population increase by as much as 50 percent within the next two decades.

As per the U.S. Census Bureau, by percentage growth Mesquite was the fastest-growing city in Nevada through the years 2020 to 2023, seeing its population jump from 20,616 in 2020 to 22,786 in 2023, which represents an increase of 10.5 percent; this exceeds the growth of both of its nearest competitors, North Las Vegas (9.0 percent) and Fernley (7.4 percent).

As per Mesquite’s Director of Development Services, Sungman Kim, the city could see the number of residents within its borders exceed 45,000 by the year 2041. The reason for Mesquite’s rapid growth is its growing popularity with a very specific demographic: retired Americans and/or Canadians – known as “snowbirds” – who prefer to spend winters in a warmer climate. As a result, about 45 percent of the city’s population is made up of individuals aged 65 or more.

The real estate stats back up the assertion that a growing number of snowbirds are purchasing homes in Mesquite to live in only part-time; while the city had 2016 vacant homes in the year 2023, a mere 16 percent of those – made up of 102 homes, 34 condos and 27 town homes, ranging from $275,000 to $1.6 million – are currently on the market for sale.

“It means that most of the vacant houses are not for sale, which again means, I assume, that those are probably the second house for the snowbirds,” Kim said.

In addition to the warm winter climate, other draws the city offers for older individuals are several highly-rated golf courses – including the Palms Golf Course, which first opened back in 1990 – and three casinos, in addition to several off-road vehicle trails that are especially popular with visitors to the area.

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 man so passionate about collecting automobiles that he actually installed 13-foot-wide front doors on his lavish estate so he can roll in and park some of his most cherished rides in his living room – yes, his living room – has listed the Las Vegas residence on the open market for nearly $11 million.

Julius Salerno loves relaxing in the living room of his 11,400-square foot home in Summerlin’s swanky The Ridges master-planned community while looking at many of his prized collector cars – of which he owns 100, including a Bugatti Veyron, Pagani Huayra and Koenigsegg Agera RS – parked right next to him. He’s also fond of displaying his Ducati motorcycle in the space as well, parked right on top of an elevated circular table.

What vehicles he isn’t able to display in his home or elsewhere on his property due to space constraints are stored in a warehouse.

However, Salerno – an attorney and co-founder of Bellami Hair, a wig and hair-extension company – recently made the decision to move to Dubai, and as a result he has decided to list his Vegas home for $10.999 million, having originally purchased it for $4.95 million in 2020.

53 PAINTED FEATHER WAY, LAS VEGAS – $10,995,000.00

The residence – situated upon a half-acre of property – boasts numerous luxury amenities, such as an elevator, movie theater with $600,000 surround-sound system, game room, gym, massage room, two-story office, four-car garage, a Crestron smart-home system, and a 1,660-square-foot swimming pool with a swim-up bar and 20-foot waterfall feature.

The home is surrounded by trees, affording the residence the sense of privacy from the street, and the massive backyard deck offers several fire pits, a kitchen, a gazebo and a putting green.

When asked why he would want to leave such a beautiful home, Salerno noted that he enjoys the lifestyle in Dubai, having visited the United Arab Emirates-based city several times. And while he will be taking a number of his prized cars with him on moving day, a major portion of his collection will remain in the United States, where he still keeps a home in California.

See full listing details for 53 Painted Feather Way, Las Vegas

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

LAS VEGAS, NV – According to the Southern Nevada Home Builders Association (SNHBA), the Las Vegas Valley – in the span of as little as eight years – could potentially run out of land upon which to develop housing, a serious situation that the organization said needs to be addressed sooner than later to avoid issues in the future.

SNHBA CEO Tina Frias noted that the eight-year timeframe – based on data supplied by a company called Applied Analysis – necessitates government action to free up additional federal desert lands to develop in order to keep Southern Nevada’s housing supply on par with the current level of supply and demand.

At the end of the day, from a homebuilding perspective, we need more land,” Frias said. “So, it’s important for us to have the land to develop in the first place.”

According to officials, the federal government currently owns 88 percent of the land in Clark County, with over half of that property – 2.6 million acres – managed by the Bureau of Land Management (BLM). A BLM spokesperson said that the 1998 Southern Nevada Public Land Management Act Mandated the federal agency to sell select plots of public land within the Las Vegas Valley, and so far nearly 44,000 acres have been sold or leased, with an additional 27,000 acres still pending.

In an effort to do away with the bureaucracy that some say is the cause behind the difficulties in accessing land for development in Southern Nevada, Governor Joe Lombardo recently endorsed a bill called the Accelerating Appraisals and Conservation Efforts Act in an effort to cut through the red tape and get the feds to release more land in the region for badly-needed home construction.

Nevada families deserve access to attainable housing – and that begins with eliminating governmental barriers to development,” Lombardo said.

According to Redfin, the current median sale price of an existing single-family home in the Las Vegas Valley has jumped 9.2 percent year-over-year alone, driven by low inventory and high demand; opening up more land for development, experts say, would help lower home prices in the long run and make the housing market more affordable.

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 – They’re not quite there yet, but according to a new report released by Las Vegas Realtors (LVR), the prices of homes in the Las Vegas Valley this past May continued to inch up to their all-time high point, illustrating the fact that demand is still exceeding supply in Southern Nevada.

LVR’s report, which acquires its data from Multiple Listing Services, noted that during May the median sale price for an existing, single-family home in Las Vegas was $473,000, representing a 7 percent jump year-over-year and moving that number ever closer to the all-time record high achieved in the valley, which was $482,000 during May 2022.

The MLS showed that there were 3869 homes for sale in the valley without any offer at the end of May, which is a 6.1 percent increase year-over-year. In addition, compared to one year prior, new listings in Las Vegas surged 19.9 percent in May, an 8.7 percent increase from the previous month.

LVR President Merri Perry Issued a statement on this development, saying that “although the demand for housing here in Southern Nevada continues to outpace our supply, increased sales and inventory are positive signs for consumers and for our members.”

Meanwhile, the median sales price for brand new homes listed for sale in the valley reached $500,000 in May, which represents a 5.3 percent jump from the same period of time one year ago; while high, this number nonetheless falls below the all-time record for new home listings in the region, which was $525,000 in May 2022.

However, it remains to be seen how much longer home prices continue to swell in Las Vegas, given the growing national trend of lowering housing costs in several major markets – including Austin, San Antonio and Fort Worth, Texas, and Portland, Oregon – as buyers back off in response to high home prices and mortgage rates.

It is expected that this phenomenon will spread to other parts of the country as well as the situation continues, eventually driving home prices down again, says real estate company Redfin in a recent report.

“Nationwide, prices rose 4.4 percent from a year earlier to an all-time high during the four weeks ending June 2,” report said. “But there are early indicators that national price growth could soften soon: 6.4 percent of U.S. home sellers cut their asking price, on average, the highest share since November 2022. And the typical active listing has been on the market for 46 days, up 2.3 percent year over year – the biggest increase in nine months, suggesting home listings are growing stale faster than they were a year ago.”

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

LAS VEGAS, NV – Amid plans amongst major Hollywood studios to begin setting up operations in Las Vegas – along with the steadily growing presence of more and more professional sports teams within the city – Landon Miller, owner of developer Landon Miller Homes, announced this week that his company would be addressing the increasing demand for high-end housing in Southern Nevada by developing a series of ultra-luxury, $15 million-plus homes.

Initiated by the approved plans for a Sony movie studio and the presence of the Las Vegas Raiders, Golden Knights and other sports teams, the demand for ultra-luxury real estate is expected to surge,” said Miller. “Having grown up in California, I’ve always been captivated by its luxury architectural styles. It’s my goal to mirror that level of architecture here.”

The initial residence to be constructed as a part of Miller’s initiative – whose development has already begun, with completion slated for fall 2025 – will be a $22.9 million dollar estate in Southern Highlands, which will take the form of a 9,500-square-foot, three-story home featuring a cutting edge, contemporary design emphasizing clean lines, large windows, light wood tones, and a cement-plastered interior.

In addition, the estate will boast numerous high-end amenities, including a dedicated media and game room with a wet bar; a large, well-equipped gym; a temperature-controlled wine room with a storing capacity of over 750 bottles; a steam room shower with cold plunge; a resort-style pool; ample vehicle storage, with a three-car daily garage augmented by a huge, subterranean seven-car garage; and a large second-floor terrace with breathtaking views of Las Vegas’ skyline.

The Southern Highlands estate represents the first of a series of posh residences that Miller said he intends to design, build, and sell throughout the Las Vegas Valley, each featuring different architectural styles and unique amenities, noting that he intends to make each one distinctly different from one another.

“Despite Las Vegas’ rapid growth and renowned entertainment scene, the city has surprisingly few ultra-luxe homes. As people relocate from Hollywood and other parts of the United States, they’re looking for an elevated level of luxury, and that’s what we’re striving to provide,” Miller said. “More and more, clients come to us with a desire to create homes that truly reflect their personal style and needs. I work hand in hand with our clients to make my vision and the client’s vision come true.”

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 official groundbreaking was held this Thursday for the $112 million Flats Arts District project, an upcoming multifamily complex that is being erected in the Las Vegas Arts District via a joint venture between CEDARst Cos. and Bridge Investment Group.

The project is being constructed at 123 West Imperial Avenue – located one block away from Main Street – and will be comprised of 311 apartment units and 5,100 square feet of retail space on the ground floor.

The property was initially purchased in January for $6 million; as an example of how property values have skyrocketed in Las Vegas over the years, the last time this plot of land was sold – back in 2011 – it went for a mere $322,000, as per Clark County property records.

In a statement, CEDARst Chief Development Officer Mark Heffron noted that the company had been wanting to get in on the Las Vegas real estate scene for some time, with the Arts District property representing the perfect opportunity to finally do so given the area’s growing economy, highly diverse businesses, and close-knit residents.

There is a far greater sense of community in Las Vegas as well,” Heffron said. “This is obvious when spending time in a vibrant and walkable neighborhood like the Arts District. The addition of professional hockey, football and baseball teams are also furthering this sense of community.”

The Flats Arts District project is slated to include 86 studio units, 185 one-bedroom units, 38 two-bedroom units, and two three-bedroom units. It will also have numerous amenities for its tenants, including a fitness center, resort-style spa facilities with saunas, workspaces, and a sunset deck and lounge.

The official ground-breaking ceremony was originally expected to take place in February, but a series of delays pushed it back to late May; the first tenants were expected to be able to move into their units by the end of 2025 and the project finished by March 2026, but now the first completed units will be made available in mid-2026 and the complex itself completed late that same year.

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 – Real estate investors have been ramping up their activity nationwide once again, and one of the areas that has seen the largest increase in single-family home purchases on the part of corporate entities as of late is the Las Vegas Valley.

According to a new report by Redfin, the number of homes purchased by investors in Las Vegas was 2.7 percent higher in the first quarter of 2024 when compared to the fourth quarter of 2023, the second highest increase in the entire country. The only other major city that ranked higher in that regard was Oakland, California, which saw a 2.9 percent jump quarter-over-quarter.

Redfin stated that the current average price of an investor-purchased home in the United States is $464,560, and in the first quarter of 2024 these entities have spent $31.3 billion so far snapping up properties left and right.

Meanwhile, according to MLS data, the number of single-family homes up for sale in the Las Vegas Valley is approximately 4,000, and 17 percent of those – amounting to 697 – are priced at less than $400,000, with the median sale price currently being $435,000, as per Redfin.

With the limited amount of inventory in Vegas at the sub-$400,000 price point, investors are increasing their activity in the Valley to take advantage and get the most value for their money.

Also, the majority of investor purchases – 69 percent – are made up of all-cash transactions, so they are far less impacted by the currently high mortgage loan rates that are impacting the real estate industry, Redfin noted.

The amount of investor activity in Southern Nevada has been compounded by the rising number of hedge funds and institutional investment companies backed by Wall Street that have been purchasing large numbers of single-family homes and turning them into rental properties, resulting in increased scarcity in a market with already low inventory.

The problem, both in Vegas and nationwide, has gotten to the point where several bills are being introduced – both on both federal and state levels – that, if passed, would forbid institutional investors from purchasing additional homes, and potentially even force them to sell off the ones they do have over a set period of time.

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.