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More than 1,600 of the 1,727 condominium-hotel suites at The Signature MGM Residences at MGM Grand Las Vegas have been sold since January 2004, and the demand for this lifestyle in Las Vegas real estate remains strong.

Sales of the furnished residences are not the only thing progressing rapidly. Construction is on the fast track with The Signature Residences condos’ first 40-story tower completed and owner escrow closings are happening. Meanwhile, Signature MGM Tower B has surpassed the 32nd floor and The Signature condos Tower C already has reached the tenth floor.

A joint venture between real estate developer Turnberry, Ltd. and MGM Grand Las Vegas, The Signature Residences offers junior, one- and two- bedroom suites. As each tower is sold out, it will be turned over and operated as a luxury hotel. Part of the MGM MIRAGE portfolio, the property has been renamed The Signature at MGM Grand Residences.

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Choosing a Fixed Rate Mortgage Loan For A Las Vegas Home

Fixed rate mortgage loans generally come with one of two options; the 30-Year Fixed and the 15-Year Fixed loans. If a borrower is planning on being in the same Las Vegas home for a long period of time, a 30-Year Fixed may be more attractive because it offers stability. The monthly payment will remain the same over the life of the loan. If interest rates are at historic lows at the time the borrower is seeking to obtain financing, this is a good loan program to consider.

A 15-Year Fixed rate mortgage loan program offers the same stability, but the accelerated amortization schedule makes the monthly payment substantially higher. While the interest rate may be lower on this type of mortgage loan, the borrower must be willing to commit to a higher monthly payment. If the borrower wishes to retire in 15 years and be debt-free at that time, this loan program may be more suitable to the borrower’s long-term Las Vegas real estate loan needs.

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Las Vegas Home Appraisal Process

Consumers are often baffled by the home appraisal Las Vegas process. They may feel their home is worth a certain dollar amount, and therefore, the appraised value doesn’t make sense to them. It is important to know that appraisal guidelines are dictated by the mortgage lenders. In many states, including Nevada, the mortgage lenders must disclose the purpose of the appraisal, as each situation carries its own set of rules, from San Diego to Miami. (more…)

Urban Village Homes For Sale in Las Vegas includes Brownstones

Urban Village Las Vegas homes by Centex Destination Properties has started development on the $1.5 billion, 2,400-unit “Urban Village” mixed-use project on Las Vegas Boulevard South, between Pyle and Frias avenues. The development firm purchased the 50-acre Las Vegas real estate site and project plans from Diversified Real Estate Group in December.

Las Vegas county records show that Centex paid $35 million for 13.59 acres being used for the first phase, or $2.575 million per acre. Diversified, by contrast, purchased the entire site in 2004 for $34.8 million, or $696,000 per acre, county records show. Reservations for the initial brownstones at Urban Village Las Vegas homes have been initiated. The brownstone and master plan theme are similar to Diversified’s original plan, but the finishes and amenities package have been upgraded.

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