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Howard Hughes Holdings Sells Multiple Acres of Summerlin Land to Housing Developers for Over $100 Million

Howard Hughes Holdings Sells Multiple Acres of Summerlin Land to Housing Developers for Over $100 Million

LAS VEGAS, NV – Howard Hughes Holdings, the developer of Summerlin, has sold nearly 60 acres of land located within the borders of Las Vegas’ largest master-planned community to housing developers, spread out over two separate transactions worth over a combined total of $100 million.

Both of the two sales closed on Tuesday, according to public property records. The first sale was to Richmond American Homes, who purchased a 36.3-acre parcel of property from Howard Hughes Holdings for $55 million, which comes out to over $1.5 million per acre.

The developer plans to utilize the land to build new housing tracts, with plans already drawn up for an 89-lot subdivision of single-family homes.

The second sale was to Toll Brothers – a company that specializes in luxury home construction – who purchased 28.3 acres of land for $1.8 million an acre, which comes to a total of $51.4 million, as per public records. Toll currently is planning to use the land to build 148 high-end housing units.

The property sold in both of the deals this week is situated west of the 215 Beltway-Summerlin Parkway interchange in the desert.

Located along the Las Vegas Valley’s western side, Summerlin is comprised of 22,500 acres and is home to approximately 130,000 inhabitants, as well as homes and rental units there are currently fetching some of the highest prices in the region.

Howard Hughes Holdings, based in Texas, takes its name from the famed aerospace engineer, business magnate, film producer, and investor; he purchased the community’s initial 25,000 acres – which he originally named “Husite” – in 1952. The community is named after Jean Amelia Summerlin, Hughes’ mother, and years later, Summerlin would go on to become the largest master-planned community in Las Vegas.

Shelter Realty Property Management specializes in the areas of  HendersonLas 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.

north las vegas

North Las Vegas Housing Project Funded by State & COVID Relief Funds Facing Deadlines

LAS VEGAS, NV – Windsor Park, a neighborhood located in North Las Vegas, has been sinking into the ground for decades – with its homes slowly falling apart as a result – and a developer that has been tasked with building new residences in their place is facing strict deadlines before his funding is yanked off the table.

The neighborhood was built in the 1960s and was originally made up of 241 homes; that number has dwindled down to just 90 today. Proper studies of the land that Windsor Park was built upon were never made; as a result, existing fault lines that were aggravated by groundwater pulled from an aquifer under the neighborhood resulted in homes gradually sinking into the ground. The result was disastrous – walls inside homes cracked, porches collapsed, and sewage pipes shifted.

Community Development Programs Center of Nevada – developer Frank Hawkins’ nonprofit affordable-housing firm – was awarded a contract for $37 million in 2024 to build a new 93-lot subdivision to provide housing for Windsor Park’s remaining residents. To date, plans have been drawn up, but construction has yet to begin.

However, since the money for the project is made up of public funds, Hawkins is up against strict deadlines. Under the terms of the contract, $25 million of the funds allocated for the project are made up of federal COVID relief funds, and if they are not spent by the end of 2026, those funds will no longer be made available.

In addition, another $12 million of the money earmarked for the project comes from the state of Nevada, and its expenditure must be committed to by June 20 and spent by September 15; any portion of that $12 million that has not been spent by the deadline goes back to the state.

So far, officials indicate that $11 million in COVID funds have been spent on the project, mostly consisting of $9.9 million towards the purchase of the land to be developed, located along Carey Avenue just west of Martin Luther King Boulevard.

As part of the contract, Hawkins is allowed to procure additional funding from other sources, but officials are growing worried that the developer may not meet the deadline to spend the $12 million allocated by the state.

Clearly, it’s a concern,” said State Senator Dina Neal (D-North Las Vegas), who introduced the Windsor Park Environmental Justice Act bill that ultimately funded the project. She has since sponsored a new bill to potentially extend the deadline for the $12 million expenditure by an additional two years.

However, Hawkins said that he is not worried about meeting the looming financial deadlines.

Even if I did, there’s nothing I can do about it…it’s not my purview,” he said.

Shelter Realty Property Management specializes in the areas of  HendersonLas 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.

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Condo, Townhome Prices in Las Vegas Increasing Due to Demand Fueled by High House Prices

LAS VEGAS, NV – According to a new report released by Las Vegas Realtors (LVR), prices of condominiums and townhomes in the Las Vegas Valley are on the rise due to increasing demand fueled by high house prices in the region.

Based on LVR data pulled from the Multiple Listing Service, the median price of a condo or townhome sold in Southern Nevada in May 2025 was $307,000, which represents a 1.4 percent increase from April 2025 and a 4.1 jump year-over-year. However, the number of condos and townhomes sold in the valley in May was 559, which is 2.8 percent higher than April but a 19 percent decrease from the same period of time last year.

Meanwhile, the median price of a single-family home in Las Vegas has been consistently remaining at $480,000, just shy of the all-time record high level that was reached earlier in 2025, LVR says.

Given that the current high prices in the Southern Nevada single-family home market are driving very real affordability concerns for many people in the region, Henderson Re/Max Advantage associate Robert Little notes that some buyers are feeling priced out and are seeking other housing options that are more in line with their budgets…mainly, condos and townhomes.

I believe this is largely due to affordability,” he said. “Condos, with a current median price of $307,000, are more accessible than single-family homes, which have a median price of $480,000. This makes them especially attractive to first-time buyers, second-home purchasers, or those on fixed incomes and tighter budgets.”

This rising demand for condos and townhomes is correspondingly serving to drive prices in that market up, but LVR President George Kypreos said that monthly sales numbers can fluctuate wildly in Las Vegas and it’s best to keep an eye on the big picture instead of the small details.

While local condo sales and prices did post a modest increase in May, I wouldn’t read too much into it,” he said. “I do think it suggests that more buyers are recognizing that condos and townhomes can be a more affordable way to enter the housing market, especially with home prices hovering just below record levels and mortgage interest rates still higher than we’d like.”

Shelter Realty Property Management specializes in the areas of  HendersonLas 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.

House-Buying in Las Vegas

Real Estate Experts Name the Number One “Red Flag” to Look for When Buying a Home

LAS VEGAS, NV – While there is a plethora of things you should be on the look-out for when looking into one of the single most expensive purchases that you will likely ever make in your life – that is, buying a home – there’s one element that many real estate experts say many first-time homebuyers consistently overlook, and it can lead to major financial headaches down the road.

The element that newbie buyers often fall prey to is their inability to tell a high-quality home renovation from cheap, quick-fix cosmetics update done by a seller simply looking for a fast and easy flip.

These deceptive updates can take the form of some fresh paint, new appliances, and some “light staging” – that is, when a vacant home is furnished with basic accessories and furnishings to make it more appealing to potential buyers – and they can certainly hoodwink the untrained eye into thinking that they home they’re in looks great.

But experts say that if a house looks too good to be true, it’s vital to give it a thorough, in-depth inspection to see what lies underneath the shiny veneer; after all, you want the seller to have invested in high-quality renovations, not surface embellishments designed to hide deep flaws in order to make a fast sale.

Kitchens and bathrooms are especially common culprits in this regard, and cheap, DYI cosmetic fixes are often the most evident in these rooms. Be on the lookout for poor paint jobs, tiles that are misaligned, cabinets that have been installed unevenly, a lack of Ground Fault Circuit Interrupter outlets, and sloppy caulking.

Also, if any rooms in the home have been renovated, ask to see the permits to ensure the work was done by a licensed, competent professional; if they are not available, the work was probably carried out by the seller instead likely not up to snuff, and unpermitted work can also cause you financial headaches down the line if you sell the house or have to file an insurance claim.

In a worst-case scenario, unpermitted home upgrades – such as electrical and plumbing work, or adding additional square footage – may not be up to local building codes, and an inspector could force you to rip the work out and redo it to bring it into compliance.

Make sure you hire an experienced and knowledgeable inspector to look over any home you may be interested in buying. Important things to note are the condition of the home’s exterior; the age of key infrastructure items such as the HVAC, electrical and plumbing; the condition of areas that are typically considered afterthoughts, such as the basement or garage; and signs of water intrusion or poor drainage.

In the end, it’s more important to make sure you get a home that has been well-maintained then one with all the bells and whistles; after all, you can add them yourself after the sale is complete.

Shelter Realty Property Management specializes in the areas of  HendersonLas 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.

bulldozeR Mr. Tempter

117-Room Hotel Begins Construction Amid North Las Vegas Economic Development Efforts

LAS VEGAS, NV – As part of the continuing and ongoing economic development efforts in North Las Vegas, ground was officially broken and construction began on a new Fairfield Inn & Suites by Marriott hotel, with the milestone event being attending by multiple community members, civic leaders, and city officials.

Among the dignitaries attending the groundbreaking was North Las Vegas Councilman Isaac Barron, who said that the development of the hotel – which is being handled by Nigro Construction – is part of the city’s efforts to make it a place where people want to visit, work and live.

This site will represent more than structural progress; it’s a symbol of economic development, job creation, and community growth,” Barron said. “Nigro’s commitment to excellence and integrity is evident in every project they undertake. They’re not just raising buildings- they’re raising the bar for what’s possible when public and private sectors collaborate with purpose.”

Nigro Construction owner Mike Nigro noted that the development of the hotel represents a positive collaborative effort between the public and private sectors, and it bodes well for future joint development efforts in North Las Vegas.

We are proud of the scope of this project and the opportunity it brings. From construction jobs to ongoing hotel staff positions to future guests, this property will have a lasting and positive impact,” he said. “This groundbreaking is more than just a ceremony- it’s a signal of confidence: confidence in this city, in its potential, and in what we can build when public and private sectors work together with purpose.”

Upon completion, the Fairfield Inn & Suites by Marriott will boast 117 rooms spread out over four stories, with sustainability – that is, the focus on minimizing the negative impacts of buildings and construction projects on the environment and maximizing their positive social and economic benefits – being heavily incorporated into the structure’s design.

To that end, the hotel will feature energy-efficient systems and the building process itself will utilize the most environmentally friendly methods possible in order to minimize any potential impact upon the surrounding area and its inhabitants.

The hotel will cater to both business guests and tourism, and will have resort-style amenities such as a large outdoor pool and a modern-style fitness center.

Development of the hotel – which will create dozens of jobs – is slated to be completed in 2026.

Shelter Realty Property Management specializes in the areas of  HendersonLas 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

May Las Vegas Home Prices Hold Steady at $480k, Market Leaning Towards Buyers LVR Says

LAS VEGAS, NV – Following three months in a row where home prices in Las Vegas reached and maintained their all-time record high $485,000, April finally saw that number dip to $480,000. And according to a new report by Las Vegas Realtors (LVR), that dollar amount remained firmly in-place for May as well, signifying a possibility that the market may be slowly shifting to favor buyers once again.

LVR notes that the median price of a single-family home in the Las Vegas Valley in May was once again $480,000, just $5,000 shy of the record peak that price reached during 2025’s first three months.

In contrast, the median price of condominiums and townhomes in May reached $307,000, which represents an increase of $5,700 over April. The previous high for condos was $315,000, which occurred in October 2024.

LVR President George Kypreos said these numbers represent a degree of stability returning to the residential real estate market in the valley, which he anticipates will foster in more of a buyer’s market in the near future.

Home prices have been very steady so far this year, with more homes on the market,” he said. “This increase in inventory and slower sales pace is giving buyers more options and negotiating power. This is a shift from the highly competitive seller’s market we experienced in recent years.”

The housing inventory has grown to a three-and-a-half-month supply; at the end of May, there were 6,646 homes listed for sale without any offers, which represents an increase of 71.8 percent year-over-year, LVR said. As for condos and townhomes, there were 2,510 listed without offers at the end of May, which is an 89.6 percent jump from the same period of time in 2024.

Shelter Realty Property Management specializes in the areas of  HendersonLas 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.

Probate Courthouse interior probate court seating chairs Billy F Blume Jr

Bill Approved by Nevada Legislators to Change Probate Law, Protect Heirs

LAS VEGAS, NV – Legislators in Nevada have approved a bill that, if signed into law by Governor Joe Lombardo, will institute changes to the state’s probate law in order to protect heirs and prevent fraud.

The bill comes following the results of an investigation published by the Las Vegas Review-Journal that shoed the discovered a group comprised of private administrators, real estate agents, lawyers and house flippers who were making money hand-over-fist by selling properties of people who had passed away via probate cases sthat tarted without any participation on the part of the deceased’s relatives.

As a result, the members of this so-called “cottage industry” cashed in on the estates of dead people across Southern Nevada for years, with the heirs often completely shut out and not getting one red cent.

Under current Nevada law, almost anyone – regardless if they are related to the deceased or not – can manage a probate case and even sell the dead person’s property with almost no oversight from the courts. In fact, the only instance of someone not being allowed to manage a probate case in Nevada is if they are a convicted felon.

The Nevada Senate Judiciary Committee’s Chair, Melanie Scheible (D-Las Vegas), said that she was unaware of the state’s probate law issues until she read the Review-Journal’s report.

“Something is wrong here,” she recalled thinking at the time.

The new bill approved by Nevada legislators – Senate Bill 404 – changes probate law by adding additional steps that must be undertaken in order for an entity to manage a probate case or sell a dead person’s home, and also greatly narrows the scope of who is allowed to sell homes in probate cases without the approval of a judge.

SB404 was delivered to the desk of Governor Lombardo earlier this week, and he has approximately one week under Nevada’s legislative process to sign it into law.

Shelter Realty Property Management specializes in the areas of  HendersonLas 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.

Luxury homes

While New Home Sales Dip, Las Vegas Luxury Listings Surge 41 Percent in Q1 2025

LAS VEGAS, NV – While sales of new single-family homes have decreased during the first quarter of 2025 – having dropped 19 percent over the course of the first three months of the year – luxury listings with prices exceeding $1 million within the same span of time experienced a huge surge in purchases, jumping an impressive 41 percent.

This news comes as luxury development and sales – especially in Summerlin – remain ongoing at a brisk pace.

According to Las Vegas-based Home Builders Research, the number of homes sales closing at $1 million or more in the first quarter in Las Vegas numbered at 154, which represents a significant increase year-over-year, with 109 sales in that range being made in the first quarter of 2024.

When the luxury numbers for Q1 2025 are broken down, 39 of the 154 closings ranged between $1 million and $1.1 million; however, at the opposite end of the spectrum, the two highest sales in the first three months of the year were $10.5 million for a MacDonald Highlands residence, followed by a Blue Heron-designed home in Roma Hills in Henderson which sold for $6.3 million.

Responding to the very real demand for luxury housing options in Southern Nevada, homebuilder Taylor Morrison recently broke ground in Summerlin West on Esplanade at Red Rock, which will take the form of a high-end community offering 400-unit single-family homes ranging in size from 1,500 to 3,200 square feet. Over 50 percent of the houses for sale in Esplanade will be in the price range of $1 million and up.

Meanwhile, Summerlin’s ultra-affluent The Summit Club community regularly sees homes selling for $30 million or more.

Despite the challenges being faced by the overall housing market in Las Vegas, luxury home sales and development are still going strong for the time being.

Shelter Realty Property Management specializes in the areas of  HendersonLas 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.

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Large Amount of Home Sales in Vegas Being Cancelled, Following National Trend

LAS VEGAS, NV – Southern Nevada is currently experiencing a large amount of home sale cancellations, and while this is following a nationwide trend, it is a phenomenon that has grown more pronounced in Las Vegas when compared to most other major metropolitan areas.

According to Redfin, in April 2025 14.3 percent of all home-purchase agreements nationwide were cancelled, which equates to contracts for approximately 56,000 homes; this represents an 0.8 percent increase in such activity over April 2024, when that percentage was 13.5.

Las Vegas has landed in the top ten of major metros that are experiencing higher-than-average levels of home sale cancellations, currently ranked at number eight with 18.6 percent. The number-one ranked city in cancellations, however, was Atlanta, Georgia, which saw 20 percent of all home contracts nixed in April.

Redfin cites several reasons for this uptick in last-minute cold feet when it comes to home purchases, such as a greater amount of inventory on the market – which results in a wider array of choices for those looking for a house – as well as the current uncertainty gripping the nation when it comes to both the economy and politics.

However, the number one reason for the rise in home contract cancellations simply comes down to dollars and cents; both home prices and interest rates on mortgages are remaining “stubbornly high,” according to Redfin, leading to more and more buyers panicking and pulling out of deals at the last moment.

Other factors include buyers making offers on properties sight-unseen, and then changing their minds when finally touring them in-person; buyers failing to sell their current home to raise funds for a new one; and finally, buyers’ remorse when they discover what their monthly payments will be once everything is factored in.

Shelter Realty Property Management specializes in the areas of  HendersonLas 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.

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Ground Broken on Esplanade at Red Rock, New 400-Unit Community in Summerlin

LAS VEGAS, NV – Ground has officially been broken on a new community comprised of nearly 400 new homes that is being developed on an 88-acre plot of land along Lake Mead Boulevard in the Las Vegas neighborhood of Summerlin West by homebuilder Taylor Morrison.

Upon completion, Esplanade at Red Rock will take the form of a 400-unit single-family neighborhood with homes ranging in size from 1,500 to 3,200 square feet, and will offer two-to-four-bedroom layouts and garages that can accommodate up to four cars.

According to Bill Renteira – Vice President of Sales for Taylor Morrison’s Las Vegas division – extensive planning was put into the community to ensure that it meets the unique needs of Southern Nevada residents.

Many of the hurdles were addressed at the beginning of the project, like making sure we would be able to meet the demands of the area’s current needs,” he said. “We did intensive market research to get the correct buyer segmentation addressed to best serve this community.”

Esplanade at Red Rock – which will evoke the modern, tropical feel of California’s Plam Springs, a lush city known for its hot springs, stylish hotels, golf courses and spas – will boast numerous high-end amenities for its residents, including a 10,000-square-foot clubhouse with a restaurant, spa, golf simulator, fitness center, pool, and pickleball courts; there will also be walking trails with beautiful scenic views.

In addition, residents of the community will have access to the many perks provided by Summerlin itself, a 22,500-acre master-planned, mixed-use neighborhood that boasts dining, retail, entertainment, and Class A office spaces.

Also, nearby attractions that will be within easy driving distance of Esplanade at Red Rock include the Las Vegas Ballpark, City National Arena, Nevada Ballet Theatre and Summerlin Library and Performing Arts Center.

Esplanade at Red Rock is expected to open in early 2026. There is currently a waiting list, however, there is a ‘coming soon’ campaign running where interested parties can signup for alerts at: https://www.taylormorrison.com/nv/las-vegas/las-vegas-valley/esplanade-at-red-rock

Shelter Realty Property Management specializes in the areas of  HendersonLas 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.

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Construction on Visions Park Apartment Complex for Visually Impaired Las Vegas Residents Reaches Halfway Point

LAS VEGAS, NV – Following the facility’s groundbreaking ceremony that took place in September 2024, construction on Visions Park – a unique and pioneering affordable living apartment complex in downtown Las Vegas that caters exclusively to the needs of blind and visually impaired residents – has officially reached its halfway point, according to officials.

To celebrate the construction milestone, the Blind Center of Nevada invited local dignitaries and officials on a tour – while wearing hard hats, of course, since it is an active work zone – to review the progress on the complex, which is situated near the Blind Center’s main campus at 950 Visions Park Lane.

This collaborative $30 million project was brought to life – financed via $4 million from the city of Las Vegas, $15 million from the State of Nevada, $1.5 million from the city of North Las Vegas, $1.5 million from the city of Henderson and $8 million from Clark County – in order to create an apartment complex that is accessible to those who rely on the resources of the Blind Center.

Upon completion, Visions Park will feature numerous amenities to help sight-challenged tenants retain some degree of independence, including flooring that makes different kinds of noises when you walk on it in order to help blind individuals navigate, as well as special types of lighting to assist those who are visually impaired.

In addition, the project will aid in reducing travel time and costs getting to and from the Blind Center, as currently some report a commute of anywhere from one to two hours every day, according to Henderson City Councilwoman Carrie Cox.

It takes a toll. I’ve had a personal experience with my own mother and seeing her sight fail her towards the end of her life,” Cox said, noting that her mother’s situation improved when she began attending the Blind Center. “And to know the difference that that made for her, there was really not a lot of options. So, this is amazing to me that the Blind Center has taken this leap to bring us all together and to make something happen for those that are visually impaired.”

Visions Park is slated to open in the beginning of 2026; there are already 300 people on the waiting list.

Shelter Realty Property Management specializes in the areas of  HendersonLas 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 Homebuilders Dialing Back Construction Plans Amid Slowing Sales

LAS VEGAS, NV – Home builders in Las Vegas are starting to slow down their construction plans and output amid a dip in sales that is being attributed to both high prices and high interest rates on home mortgages in Southern Nevada.

According to a newly-released report by Las Vegas-based Home Builders Research, in Las Vegas in April 2025 there were only 766 net sales – that is, sales contracts that were newly signed, not including cancellations – which represents a year-over-year decrease of 29 percent.

Meanwhile, the houses in question were sold for a median price of $529,833, which is a jump of 8.1 percent from April 2024.

What makes this decrease in sales especially significant is that it occurred during what is normally the busy spring buying season, which Home Builders Research President Andrew Smith said is an unusual development for the region.

The market is steadily slowing week to week lately, unexpected for this time of year,” he said in the report, adding that net sales over the course of 2025 so far “continue to underwhelm” when compared to the same period of time last year.

Another issue, Smith added, is that homebuilders have been repeatedly increasing their base asking prices. This is causing a trickle-down effect upon the local market, as higher prices are causing fewer buyers to take the plunge, and with fewer buyers, builders are scaling their plans back.

As a result, builders are pulling less permits; Smith noted that last month there were just 978 permits issued for new homes in Las Vegas, which is a drop of 19 percent when compared to April 2024.

Basically, buyers are becoming leery of investing the money it takes to purchase a home – both in Las Vegas and nationwide – due to high prices, high mortgage rates, and the overall economic uncertainty that is currently gripping the country.

Shelter Realty Property Management specializes in the areas of  HendersonLas 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.