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

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

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

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

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

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

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

LAS VEGAS, NV – Las Vegas Raiders owner Mark Davis recently closed on a new $5.3 million clubhouse tower condo in Summerlin’s Summit Club, in addition to having recently purchased property in Ascaya – located in the Henderson mountains – upon which he intends to build his primary residence, according to reports.

Obviously needing a new place to hang his hat after bringing the famed Raiders NFL team to Las Vegas, Davis’ new residence in the Summit Club is a place where numerous executives and celebrities either already own luxury custom homes or are in the process of having them constructed. The closing on his home, which took place back on March 15, is the fourth highest price paid for a home in the area in the first quarter of 2021, reports say.

Previously, Davis has purchased a 1.21-acre lot in Summit Club for $8.5 million in 2017, but instead of building a home as was his original intention, he instead sold the lot for $10.5 million in July 2020, stating at the time that he had changed his mind because – part-way through the design process – he realized he would be unable to see the Raiders’ Allegiant Stadium, which was “starting to drive me crazy,” Davis said.

The lot in Ascaya – located closer to the Raiders’ Henderson headquarters is being constructed by luxury builder Blue Heron and yes, the property does indeed have a nice view of the stadium, he said.

This news come amid reports that luxury home sales and construction in the Las Vegas region is still exceeding real estate experts’ predictions, having shown very little negative impact due to the ongoing COVID-19 pandemic. For example, approximately one month ago a Vegas broker put a $1.8 million home on the market, and six minutes later he had a taker; another broker listed a $12.5 million home shortly afterwards, and within days she had two buyers she was actively negotiating with.

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 experts are reporting that home-buying in Las Vegas is reaching a fever pitch, and are recommending that residents who are looking to change careers in the near future to consider real estate, as things will likely get even better when the COVID-19 pandemic eventually comes to an end.

With a large influx of people into Southern Nevada looking to take advantage of record-low mortgage rates, low inventory, and the low cost of living when compared to many other regions of the United States, real estate in Las Vegas is already bouncing back from the pandemic far more quickly than first anticipated. Demand is so great, experts say, that buyers are getting so competitive with one another that many are actually skipping property inspections, buying homes sight unseen, and even paying well over the appraised value.

However, when the pandemic finally comes to an end, thousands more homes are expected to enter the marketplace when eviction moratoriums – put into place both locally and federally to aid those financially impacted by COVID – finally come to an end and foreclosures start happening en masse.

While waiting for eviction moratoriums to eventually end, experts say, an individual looking to get into real estate could be working on their license, which can be obtained in only four to five months.

The rapid economic growth exhibited by Las Vegas prior to the pandemic is another reason people should be considering entering the real estate field, experts say, as the region is bringing in many big-league corporations, and professional sports teams who are attracted by the businesses-friendly climate Nevada offers.

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

LAS VEGAS, NV – According to recent reports, Southern Nevada –  and Las Vegas in particular – have closed out 2020 by setting huge final sales records that show an increase of 38 percent over 2019 for homes valued at $1 million or more. However, the so-called “uber-luxury” market – comprised of homes valued at $4 million or more – has risen to levels never before seen in the history of the region.

The 2020 sales of uber-luxury homes in Las Vegas were at least 50 percent higher than they were in 2019, reports say, and all while the ravages of the COVID-19 pandemic are otherwise wreaking havoc on the Nevada economy.

According to recently-released figures, 129 homes and condominiums costing $1 million or more were sold in December 2020, a marked improvement over the 98 such homes sold in November; reports indicate that many buyers were attempting to close before the end of the year for tax purposes, causing a log-jam of sorts in terms of sales at the tail of 2020.

However, 13 residences valued at $5 million or more occurred in December 2020 alone, for a grand total of 32 for the entire year; in contrast, only 14 such sales took place in all of 2019, illustrating that 2020 was a record-crusher in that regard.

Some real estate experts attribute the jump in upper-luxury sales in 2020 to the impact of the COVID-19 pandemic and lockdowns set by local governments in order to curb the spread of the disease influencing people with the financial means to improve their living conditions as much as possible.

After all, if you’re going to be stuck in your home for months at a time, why not do so in a spacious, luxurious residence during a period of time when mortgage interest rates are at an all-time low?

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 – Nevada Governor Steve Sisolak’s statewide eviction moratorium is currently in effect until March 31, which prevents tenants and homeowners from being evicted from their homes due to financial reasons stemming from the ongoing COVID-19 pandemic.

While this offers a layer of protection for individuals affected by the economic damage inflicted upon Nevada, it nonetheless demands that landlords continue to suffer massive losses in the form of unpaid rent. While this has caused a great deal of hardship for landlords – many of which are small, mom-and-pop operations who use rentals to get by – there is a clause in the current eviction ban that offers a layer of protection for landlords if the worst should happen.

According to experts, the Governor’s moratorium will nonetheless allow a landlord to begin the process of evicting a tenant if they are facing a very real threat of foreclosure on their property. However, this dire financial hardship would have to be proven in a court of law; once a judge has been satisfied that a landlord literally has no other recourse and is in very real danger of losing their home or apartment complex, eviction proceedings would then be allowed to begin.

“If the homeowner is facing a very real threat of foreclosure, they can go ahead and move forward with an eviction process,” said Bailey Bortolin, Nevada Legal Aid Policy Director.

With that being the case, experts also stress the vital importance of tenants and landlords setting up payment plans for whatever amount the tenant can realistically afford, keeping an open channel of communication between all parties, and putting in an application to Clark County’s CHAP program for rental assistance, since Sisolak’s eviction ban does not absolve a tenant from paying back rent.

Governor Sisolak’s statewide eviction moratorium is currently running concurrently with a federal moratorium issued by the CDC; however, experts note that the Nevada ban essentially overrides the federal one, due to end on Jan. 31.

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 – This week, Congress and the Senate approved a massive $892 billion COVID-19 economic stimulus bill in order to help combat the financial damage inflicted upon the country by the ongoing COVID-19 pandemic. Including in the bill – in addition to $300 weekly unemployment benefits and $600 stimulus checks – is also a one-month extension of the current national eviction moratorium and an emergency rental assistance program.

Originally decreed by President Donald Trump and enacted by the Centers of Disease Control and Prevention (CDC) in September, the Federal eviction moratorium was originally set to expire on December 31. However, as mandated in the new stimulus package – which has cleared both the House and Senate, the bill now moves to Trump’s desk for signature by an extended deadline of January 31. Late last night Trump asked Congress to increase the amount in the stimulus checks to $2,000 for individuals or $4,000 for couples before he signs it into law, instead of what he called the “ridiculously low” $600 for individuals.

In addition, the stimulus package also contains $25 billion in emergency rental assistance funds and moves back the deadline for the use of funds remaining from the first stimulus package enacted by the government, known as the CARES Act.

While an additional month where tenants cannot be evicted due to non-payment of rent will not be the news that most landlords will want to hear, the additional emergency rental assistance funds that will be made available – in addition to the aforementioned $600 checks and $300-a-week unemployment boost – will hopefully mean that delinquent tenants will be able to catch on up back rent in the near future.

It should be noted that a recent statewide eviction moratorium was enacted by Governor Steve Sisolak in response to the original Dec. 31 end date of the federal eviction moratorium, which will bar most evictions in Nevada throughout the end of March 2021. It is unknown at this time if Sisolak will revise his own moratorium based on the newly-passed federal extension or not.

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

LAS VEGAS, NV – According to reports, a judge has blocked an attempt by Nevada Governor Steve Sisolak’s office to designate evictions as “non-essential” during the COVID-19 pandemic, opening the doors for landlords to begin eviction proceedings that go into effect at the end of December when a federal mandate against them is set to expire.

Currently, some tenants are protected from eviction via a mandate on the part of President Donald Trump, by way of the Center for Disease Control and Prevention (CDC); in addition, they have access to rental assistance provided by way of the CARES Act, originally passed by Congress to aid those who have been financially impacted by the pandemic. However, both of these are set to end come January 1, at which time a flood of evictions are expected to come.

Governor Sisolak has not announced any further extensions on his own now-expired eviction moratorium – which came to an end in mid-October – but his office recently sent a letter to the Las Vegas Justice Court (LVJC) regarding the influx of eviction paperwork, stating that they were concerned over crowding conditions these “non-essential” cases may be causing – allegedly violating social distancing guidelines – and asking chief justice Suzan Baucum to put a stop to them.

“The overcrowding of people within the LVJC during this statewide pause is a public health issue, and the Governor urges you to direct that all in-person appearances (including evictions) be suspended during this statewide pause for the express purpose of helping to contain the spread of COVID-19,” the letter said.

It should be noted that evictions were not the only case type mentioned – although they were highlighted – in the letter from Sisolak’s office, but rather all in-person court appearances be stopped in order to help curb the spread of COVID-19.

Baucum, in response, did institute several measures in order to increase safety in the courts and decrease the amount of social contact, but while some hearings have been postponed until 2021, eviction proceedings – which the chief justice deemed “essential” – were allowed to continue on an in-person basis, or through other means where possible.

When responding to the letter, Baucum noted that Sisolak’s moratorium on evictions has expired and that the court thusly had no cause to stop eviction hearings from going forward. Also, the Trump/CDC mandate does not serve as full protection against evictions, but only covers those who qualify and have opted into the program.

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

LAS VEGAS, NV – According to reports, increased and ongoing desire on the part of companies for more industrial space in Las Vegas is overwhelming the efforts of local developers who are struggling mightily thus far to keep pace with demand.

Due to a number of factors, more and more companies are making Las Vegas home, and these companies need space to set up shop; space that is becoming scarcer by the day as need outstrips available inventory.

Among the factors figuring into this mass exodus on the part of businesses into Southern Nevada are those looking to establish west coast operations and companies fleeing neighboring states – such as California, where taxes and the high cost of living are becoming intolerable – for regions like Las Vegas where business can be much more profitable by way of lower taxes and cheaper living expenses.

While this influx of new businesses is a boon for Las Vegas’ economy, developers have been working hard to keep up with the constant want for new industrial space in their backyard. However, recent efforts have been managing to just barely keep pace with demand; over 10 million square feet of new industrial space has been added to Las Vegas since 2019, and an additional 6.3 million square feet are currently under development as of November – an increase over the average rate of industrial construction – with much of that upcoming space already experiencing significant leasing activity, reports say.

The ongoing COVID-19 pandemic hasn’t had much of a negative impact upon industrial leasing in the Las Vegas region, either, with current activity approximately matching what occurred in 2019. Ecommerce and tech companies are making up the bulk of new leasers in the marketplace, but other businesses – such as manufacturing, retail, trade, and more – are also significant, with North Las Vegas representing the biggest submarket for new industrial leasing.

Experts predict that this trend will continue well into 2021 as local population grows and the economy continues to recover from the pandemic.

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 – While the eviction moratorium put into place by Nevada Governor Steve Sisolak has since expired, the end of the Nevada moratorium is finally giving Las Vegas landlords the opportunity to gain access to properties that have been home to tenants that have not been paying rent for the past six months or so, and what some of these landlords are discovering is the end of one hassle but, unfortunately, the beginning of yet another.

While most tenants relied on the eviction moratorium to avoid homelessness while furloughed or laid off due to the COVID-19 pandemic, others merely took advantage of a well-meaning program in order to get out of paying rent. Likewise, most tenants will go to great pains to leave a property in the same condition as when they moved in, but some landlords are discovering that isn’t the case with everyone.

A recent report indicates that some Las Vegas landlords who have finally been able to evict tenants for non-payment of rent are discovering – much to their dismay –  that some of them took vindictive action while exiting the premises in the form of thousands of dollars of vandalism that the landlord is now on the hook for.

Las Vegas real estate broker and property manager Geoffrey Lavell recently got the chance to inspect a property where the tenants, who had been evicted, inflicted approximately $18,000 in damage to the apartment. High-end appliances were destroyed, multiple hatchet marks were discovered on every wall, the carpet was cut out, and windows, mirrors, and furniture were broken.

“Not having rent for six months is already hard for the homeowner, but having to pay $18,000 or so in repairs is devastating,” he said. “It ruins them financially, and now I fear the only chance the owner has is to sell the property.”

Lavell said that a police report has been filed against the tenant.

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

LAS VEGAS, NV – According to reports, the Elon Musk-owned Boring Company is looking to expand upon the so-called “people mover” underground transit system they have installed for the Las Vegas Convention Center, with the intention of extending its scope into the city’s tourism corridor.

A people mover is a type of small scale automated guideway transit – utilizing self-driving, all-electric Tesla vehicles – that service the Las Vegas convention center, originally slated to be completed in time for the January 2021 Consumer Electronics Show, before it was cancelled due to the ongoing COVID-19 pandemic, that is.

The Boring Company has submitted a special use permit application to the city of Las Vegas, as well as a land use design review to Clark County which, if approved, would account for approximately 15 miles of additional tunnels – in both directions – being constructed throughout Las Vegas. The project is said to be supported by numerous resort hotels in the downtown area.

If the Boring Company’s permits are approved, they would be able to extend the people mover throughout a proposed 50 stations, ranging from the Fremont Street Experience and Circa’s Garage Mahal to Allegiant Stadium, the new home of the Las Vegas Raiders NFL team. In addition, an extension servicing McCarran International Airport is also a possibility.

If approved, the people mover extension would be constructed at the cost of the Boring Company; however, Musk’s business would retain all farebox and advertising revenue generated by the system upon completion, reports say.

The Boring Company has distributed a concept map of the proposed system, showing separate northbound and southbound tunnels running beneath Las Vegas Boulevard, Main Street, Frank Sinatra Drive, Tropicana Avenue, Russell Road, Valley View Boulevard, Arville Street, Flamingo Road and Paradise Road.

Construction on the people mover officially began on November 15, 2019, and is being constructed in partnership with the LVCVA, and is slated to be completed in January 2021.

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

LAS VEGAS, NV – According to reports, in anticipation of his NFL teams move to their new home in Las Vegas for the 2020 football season onward, Raiders owner Mark Davis has recently purchased a plot of land in the Henderson mountains – a spot upon which he plans to construct a lavish home – for a whopping $6 million.

Previously, Davis had purchased a smaller 1.2-acre lot in 2017 – for $8.5 million – upon which to construct a home in The Summit Club, a luxury golf course community in Summerlin. However, he abandoned those plans in August of this year, selling the original plot of land for $10.5 million and then closing on the Henderson deal, a development that he only just recently revealed to the media.

Why the change of location? Simple, he said – his original location in Summerlin offered him no direct line-of-sight views of the Raiders’ new home – Allegiant Stadium – which was “starting to drive me crazy,” he said. Clearly, this is a man who takes his profession seriously.

To give himself a clear view of the newly-constructed home stadium of his well-known NFL team, Davis bought the 6.3-acre plot of land in the Ascaya, a community that was carved out of the McCullough Range via explosives by a Hong Kong developer and subsequently sat vacant throughout the mid-2000’s recession before getting a new lease on life as a home for wealthy individuals and families.

His new location – the Ascaya community – also keeps him in the vicinity of the Raiders’ Henderson-based practice facility and headquarters; once his condo’s construction is completed upon the new plot of land, Davis will enjoy not only spectacular views of the Las Vegas Strip but also Allegiant Stadium.

“I’m getting the best of both worlds,” Davis said.

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 – It was recently announced that construction of the long-awaited Allegiant Stadium, new home of the NFL Las Vegas Raiders, will be ready for start of the team’s 2020 season on September 21, despite numerous hurdles and challenges thrown in its path thanks to the ongoing COVID-19 pandemic. However, that good news comes with one caveat- according to the team’s management; all of the Raiders’ games played for their inaugural season at Allegiant will be done so without the benefit of fans, who have been banned from the venue due to health concerns.

The Raiders announced that fans would not be allowed in the stadium for the 2020 season in a statement released this week to season ticket holders, following suit with many other professional sporting teams that are taking similar precautions to help curb the spread of COVID-19, the disease caused by the coronavirus that has claimed over 160,000 lives in the U.S. to date.

“There is nothing more important to the Raider Organization than the health and safety of our players, coaches, staff, stadium workers and fans,” the statement said. “After intensive consultation with healthcare officials and state and community leaders, we have made the difficult decision to play the Las Vegas Raiders 2020 inaugural season at Allegiant Stadium without fans in attendance. This decision is based on our commitment to protect the health of our fans and the entire community in response to the coronavirus pandemic affecting us all.”

Reduced seating was considered but ultimately ruled out by the team; season ticket holders have the option of either receiving full refunds or applying their payments to the 2021 season instead.

Allegiant Stadium, a $2 billion, 65,000-seat complex built on a 63-acre plot of land located just west of Interstate 15, officially broke ground in November of 2017 and faced several hurdles in its development – thanks in no small part to the pandemic – while making headway towards its 2020 goal of completion.

The Raiders will play their first game at Allegiant on September 21 when they host the New Orleans Saints. A planned Garth Brooks concert for August 22 – the first-ever event planned for the stadium – was recently re-scheduled to February 27.

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.