Lifestyle Magazine Curating Travel, Food, Tech, Celebrities And Events

Las Vegas Home Sales Reach $955.3 Million in May 2006

The Las Vegas Valley’s housing market continued its year-long slide with 2,556 new Las Vegas home sales in May, a 17.4 percent drop from last year’s record pace, reports the Greater Las Vegas Association of Realtors. Median Las Vegas home prices stayed flat at $310,000, same as the month before, but 3.3 percent higher than in 2005.

Las Vegas home listings, however, a strong indicator of the real estate market’s vitality, climbed to 19,132 in May, which is 27 percent more than in 2005. Despite this, there was $955.3 million worth of sales in May. And while it marks a 15.4 percent month-to-month gain, it’s still 12.4 percent less than real estate sales 12 months ago.  Remember that 2005 was a very banner real estate year.

Las Vegas condo/townhomes saw similar slip-and-slide results in May with only 605 new sales, a 19.4 percent drop from 2005. Median condo/townhome prices, however, edged up slightly to $202,000, a 0.5 percent gain from April and 8.6 percent better than last year. There was a total of $131.1 million worth of condo/townhome sales in May. Although it marks an 11.7 percent improvement over the preceding month, Las Vegas real estate sales were still 13.9 percent off from the dollar volume recorded in 2005.

Source: LV Business Press

For VIP representation of Las Vegas Condos call today.

Selling, buying or refinancing a piece of Las Vegas Real Estate today? Visit Fine Homes Real Estate for more information and VIP representation by a Las Vegas Luxury Real Estate REALTOR for investment Las Vegas Real Estate, 1031 exchange, condos such as Trump, Turnberry, Allure, Panorama Tower, The Signature, W Residences, RED Rock Residences, commercial, residential and Las Vegas land.

Las Vegas Homes Sales reach $955.3 million in May 2006.

The Las Vegas real estate 3,000-room Cosmopolitan Condos Resort - with two towers of hotel rooms and condos and five stories of attractions - is a window into Las Vegas high-rise future.

While Las Vegas buzzes about other major high rises to open by 2010, the $2 billion hybrid Cosmopolitan condos is expected to open by New Year’s Eve 2008, becoming Las Vegas real estate first mixed-use development.

With glass-enclosed shops overlooking the Las Vegas Strip sidewalk, rooftop beach club and hotel towers looking like rock crystals, the Cosmopolitan’s flash-cube appearance will stand out like a New York socialite at a carnival.

In fact, the aptly named property, at the northwest corner of Harmon Avenue and Las Vegas Boulevard, will have more authentic New York flavor than the nearby New York-New York, with its faux art deco skyline and Statue of Liberty. (more…)

Who’s Financing Trump Tower Tampa?

Trump Tower Tampa, luxury condos for sale in Tampa, ground breaking happened three months ago on Ashley Drive in Tampa, Florida. And as the foundation nears completion and developers look to go vertical, two crucial questions remain: Who is going to build the 52-story Trump Tower Tampa condos structure and where is the money coming from?

Those questions have been asked in abundance by observers, even fueling speculation once again that the $225 million Trump International project is in jeopardy. Ask anyone at SimDag LLC, the company partnering with The Trump Organization on the tower, however they’ll say there’s nothing to worry about.

“You’ve got to remember that the sales response for this luxury condominium project, even after (a unit price) increase, has been phenomenal,” said David Hooks, spokesman for the Trump Tower project. “The foundation work is continuing, and because of that, there’s an opportunity to improve the terms of the financing being negotiated. The developers are taking that opportunity to finalize the best terms possible.” (more…)

Pinnacle Las Vegas Condos And Resort

Pinnacle Las Vegas Condos Resort, an 1,100 unit project, will be managed by Interstate Hotels and Resorts.

Pinnacle Condominium Resort is a twin-tower, 36 story development currently in presale with ground breaking set for this fall and completion in the second quarter of 2009.

Arlington-based Interstate Hotels and Resorts (NYSE: IHR) says it is the largest independent hotel management company in the nation.

(more…)