Careers     Rental Application     Tenant Login     Call Us:   702-376-7379

Category Archive : Real Estate


Las Vegas Mansion of Celebrity Couple Kyle Dean Massey and Taylor Frey on Market for $4 Million

LAS VEGAS, NV – With the married duo set to move to London in the coming months, celebrity couple Kyle Dean Massey and Taylor Frey have listed their Las Vegas mansion – located in the affluent Spanish Hills master-planned community, which has also been the home to stars such as Nicolas Cage and Mötley Crüe’s Vince Neil – on the open market for $4 million

Massey is best known for his leading roles in the Broadway musicals Wicked, Next to Normal, and Pippin, as well as for a recurring role on the ABC/CMT musical drama series Nashville. Frey, meanwhile, is best known for playing Don Hagerty in the horror movie It Chapter Two, and will be starring in the upcoming film The Holiday Exchange with Kyle Richards and Rick Cosnett from a script that he also penned. 

Massey and Frey had purchased the large ranch-style home in 2021 for $1.5 million; it was originally built in 2002 but was extensively customized and renovated after the two acquired it. Located on a one-third of an acre plot of land, the 6,000-square-foot residence – located in an exclusive guard-gated community – boasts five bedrooms and three baths and features luxurious trappings such as marble floors, high ceilings, and high-end wallpaper treatments by designers such as Versace, Roberto Cavalli and Phillip Jeffries. 

5091 MOUNTAIN TOP CIRCLE, LAS VEGAS – $3,950,000.00

The home also comes complete with a gourmet kitchen replete with quartz countertops, dual islands, stainless steel appliances and custom cabinetry. A luxe master retreat set in its own dedicated wing offers a fireplace, large walk-in closets, and a spa-styled bath which includes a steam shower and soaking tub built into a bed of lava rock. 

The backyard, which is accessed through French doors, gives off a resort-style atmosphere and has many luxury amenities, including fruit trees, a pool with cascading waterfall and spa, and numerous areas for lounging and entertaining guests. 

Rounding out the home’s impressive features is an attached four-car garage that includes an electric vehicle charger. 

See full listing details for 5091 Mountain Top Circle, Las Vegas

Shelter Realty is a Real Estate and Property Management Company specializing 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.

Jim Murren homes sale Las Vegas luxury list

Former MGM Resorts CEO Jim Murren Sells Las Vegas Mansion for Over $15 Million 

LAS VEGAS, NV – The former chairman and CEO of MGM Resorts International, Jim Murren, has sold his Las Vegas mansion – dubbed “Skyspace” – for over $15 million, making it the second highest price that a home has fetched in the Valley this past September, following the sale of actor Mark Walberg’s Summit Club bungalow for $16.65 million. 

Murren had previously listed the residence for sale in July 2020 – at the beginning of the COVID-19 pandemic – for $10.5 million, although he later removed it from the market. He eventually relisted it for $17.75 million, with the home selling last month for $15.95 million. 

Skyspace is a 13,000 square-foot home situated on 1.5 acres on Painted Feather Way within the Summerlin community and golf club, offering views of the Las Vegas Strip via a series of wall-to-wall windows. It has five bedrooms, eight baths, and a separate one-bedroom guest house.  

The mansion was created with a reverence for art and philosophy; there are several corner spaces that allow for solitary reflection, indoor bamboo and pine trees, and a Zen garden outside the main bedroom laden with multiple pathways that could take upwards of 45 minutes to traverse. The house also contains numerous amenities, including an indoor basketball court, gym, movie theater, wine cellar, pool, spa, and a huge open-concept kitchen. 

“Skyspace” derives its name from a large art installation that essentially turns the home into a “sensory experience” by utilizing high-tech equipment to create the illusion of being in space by making use of natural light provided at both sunrise and sunset. The equipment for this experience was not part of the home’s asking price when Murren originally listed it in 2020 but was available for purchase separately; it is unknown if it was included in September’s sale. 

Mr. Murren, who resigned from MGM in February 2020, has stated that he and his wife are planning on remaining in Las Vegas but simply wanted to downsize to a home more suitable for their needs, as apparently Skyspace afforded them more space than was necessary. 

Shelter Realty is a Real Estate and Property Management Company specializing 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.

Vegas Office

Despite Lower Overall Demand Nationwide Post-COVID, Demand for Office Space in Las Vegas Remains High

LAS VEGAS, NV – Remote work, which came to prominence during COVID-19, has remained a work model that is quite popular amongst many individuals even now that the pandemic is officially over, leading to a nationwide decline in the demand for office space; indeed, many metro areas are still reporting high degrees of vacancy and experts expect a hybrid work model to remain the norm for the foreseeable future. 

However, Las Vegas is one of the few major metropolitan areas in the United States that is bucking this trend, with reports indicating that demand for office space in the city continues to remain strong in direct contrast to most other regions in the country. 

Marc Magliarditi, a first vice president at the commercial real estate firm CBRE, notes that while office vacancy is still slightly off from pre-pandemic numbers, the rates of office occupancy in Las Vegas didn’t come close to experiencing the same negative impact that the pandemic had upon other cities, and that demand has been steadily increasing more and more each day. 

Magliarditi contributes that continued growth to numerous factors that are unique to Vegas, such as several professional sports teams recently taking up residence in Southern Nevada; an increasing population; a robust and ever-growing economy; and its greater number of suburban residents when compared to other cities 

We’ve been fortunate here in Las Vegas,” he said. “That demand has been pretty steady, and I would even say strong, post-pandemic.” 

Las Vegas’ business-friendly taxes has also been a draw in terms of filling office space, with numerous companies relocating from California and other parts of the country to do business in the Valley, and the one thing that these companies all have in common – in addition to wanting to save money, that is – is that they all need commercial space to reside in. 

In addition, these companies are investing in new and improved office space in an effort to entice and retain new employees in a post-pandemic work market, currently making Las Vegas office space some of the most sought-after real estate in the country. 

Shelter Realty is a Real Estate and Property Management Company specializing 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 Sign

Average Price of Vegas Homes in September Holds at $450,000 Year-Over-Year

LAS VEGAS, NV – The real estate sales figures for Las Vegas in the month of September are in, and the median sales price of an existing single-family home in Southern Nevada was $450,000, which is the exact same price it was one year ago in September of 2022. 

The coincidences don’t stop there; the median sales price for condominiums and townhouses in Las Vegas was $270,000 in September, which is once again the same exact price year-over-year. 

These prices were reported by Las Vegas Realtors, and according to the group’s president, Lee Barrett, it’s an example of a degree of stability in the current local housing market that he envisions continuing for the foreseeable future. 

We should probably get used to the current housing market since it’s not likely to change much anytime soon,” he said in a statement. 

Bartlett noted that since March 2022, the Federal Reserve has increased interest rates 11 times in an effort to curb skyrocketing inflation; however, those rate increases have not had much effect upon the Las Vegas real estate market, he said. 

Hopefully, some of our national experts are right in predicting that interest rates could begin to come down a bit sometime next year,” Bartlett said. “Even at current rates and with our very tight housing supply, owning a home here in Southern Nevada is a better deal than renting for most people, especially when you consider that homeownership is still one of the best ways to build wealth and financial stability over time.” 

Las Vegas Realtors reports that available housing options are not remaining on the open Las Vegas market for any significant amount of time, with 85.7 percent of homes and 86.3 percent of condos and townhouses that were sold in September only having been available on the open market for a period of time spanning 60 days or less. 

At the end of September, there were 4,066 homes available on the market without any offers, which represents a 49.9 percent decrease year-over-year; as for condos and townhouses, 1,035 were available at the end of the month without offers. 

Shelter Realty is a Real Estate and Property Management Company specializing 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.

Report Indicates that Hawaiians are Moving to Las Vegas En Masse for More Affordable Lifestyles

Report: Approximately 5,000 Los Angeles Residents Moved to Las Vegas in August

LAS VEGAS, NV – According to a new report released by online real estate brokerage Redfin, somewhere in the neighborhood of 5,000 people relocated from Los Angeles to Las Vegas during the month of August, showing that Southern Nevada is still a very desirable place for people to move to, especially from states with a very high cost of living such as California. 

This impressive number of transplants nonetheless represents a decrease year-over-year; in August 2022, 6,800 people moved to the Las Vegas Valley from Los Angeles. Redfin stated they have gathered this data by utilizing an algorithm that tracks searches made by home buyers in markets outside of their local area, indicating a desire to relocate; this algorithm, according to the company, has a 90 percent success rate in predicting moving behaviors. 

An interesting fact is that while Las Vegas is one of the most popular cities to move to in the country currently – ranked second nationally behind only Sacramento – Los Angeles is actually at the top of the list of cities that people are moving out of.  

Along with Los Angeles, other top cities in the country that people are presently relocating from in large numbers include San Francisco, New York, and Washington D.C., according to the Redfin report; the reasons cited by residents of these cities for leaving include affordability issues, high taxes, crime rates, and the ability to work many jobs remotely becoming more and more commonplace. 

Relocations are holding up better than in-metro moves largely because homebuyers are searching for affordability, and remote work gives many Americans the freedom to move,” the report states. “Nine of the 10 most popular migration destinations have a lower median home-sale price than the most common origin of homebuyers moving in.” 

Currently, according to the UNLV Center for Business and Economic Research, the population of Las Vegas is swelling by approximately 115 residents on a daily basis. 

Shelter Realty is a Real Estate and Property Management Company specializing 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.


Mark Wahlberg Sells Vegas Home for $16.6 Million One Year After Purchase, Makes $2 Million Profit

LAS VEGAS, NV – Hollywood actor Mark Wahlberg, well-known for starring in blockbuster movies such as “Transformers,” “Boogie Nights,” and “Pain and Gain,” has just sold his Las Vegas home just over one year after having purchased it, making an impressive profit in the process. 

In August 2022, Wahlberg bought a 7,327 square-foot, two-story, four-bedroom townhome for $14.5 million in the Summerlin-based The Summit Club, a stylish, private neighborhood catering to affluent families and individuals.  

One month prior to that purchase, Wahlberg had acquired a 2.5-acre plot of residential land for $15.6 million in the same community with the potential goal of using it to construct a mansion from the ground up. 

Just over one year later, the actor sold the townhouse on September 22 for over $16.6 million, netting himself a $2 million return on his investment. However, to date, it is still not known what the plans for the vacant plot of Summit Club land that he owns are. 

The Summit Club describes itself as a “555-acre extraordinary sanctuary” that is nestled between Red Rock Canyon National Conservation Area and the Las Vegas Strip, located off Town Center Drive south of Flamingo Road. The website goes on to say “The Summit Club is the only private residential lifestyle club community in Las Vegas. Sit back and enjoy five-star amenities, a championship golf course, a robust outdoor pursuits program and unique terrain-to-table culinary offerings.” 

The website also notes a plethora of wellness and recreation programs for residents, as well as snacks-laden golf course “comfort stations” and pickle ball and tennis courts that are adjacent to Wahlberg’s new residence. 

This is not the first expensive property that Wahlberg has parted with recently; earlier this year, he also sold his Beverly Hills Mansion for $55 million after previously listing the property for $87.5 million in 2022. He and his wife had previously purchased the estate in 2009 for $8.25 million. 

Shelter Realty is a Real Estate and Property Management Company specializing 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 Currently Has the Highest Level of Home Foreclosures in the Nation

LAS VEGAS, NV – During the mid-2000s recession, numerous families lost their homes to the dreaded malady of foreclosure. And while the housing market has obviously improved significantly since those days, experts are noting that the number of foreclosures nationwide is starting on an upward trajectory once again, with Las Vegas being considered as currently having the highest number of them. 

However, it’s not time to panic just yet, as the current level of foreclosures aren’t even close to approaching those seen during the recession; however, a new report from Attom Data does provide some sobering insight into the current state of the real estate industry, with both Las Vegas and Nevada as a whole placing prominently in it. 

According to Attom Data’s real estate market data analysis, approximately one in every 2,200 homes in Nevada is currently in a state of foreclosure, which is currently the highest rate out of any other state in the country. 

Las Vegas itself ranks 4th in the country among metropolitan areas with over 200,000 residents, with about one in 1,800 homes in foreclosure; the city also ranks first among metropolitan areas with over one million inhabitants. 

However, real estate experts are not sounding the alarm yet, because this is a situation that was anticipated for numerous reasons, the main being that pandemic-era mortgage moratoriums are no longer in effect after a sustained period of time when they were in force following COVID-19 related job losses.  

Current issues caused by the economy and inflation are also contributing to families having difficulty meeting their monthly home payments. 

However, experts note that there is indeed a light at the end of the tunnel, as the Federal Reserve appears to be almost done with the rate hikes they’ve been imposing in order to curb inflation and avoid a potential recession. With that being the case, it is most likely that mortgage rates will start to decrease back to more affordable levels, which should prove to be a large boon to the housing market.  

In the meantime, if you are having difficulty making your housing payments, foreclosure may not be your first option; it is recommended that you look into any programs that your local government or municipality may offer to assist you. 

Shelter Realty is a Real Estate and Property Management Company specializing 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.


Townhomes, Condos Become Serious Alternatives for Buyers Priced Out of Las Vegas House Market

LAS VEGAS, NV – With the housing market – both in Las Vegas and nationwide – breeding affordability concerns and pricing many out of the market altogether, buyers have been turning to more affordable options such as townhomes and condominiums. Southern Nevada developers, in turn, have sat up and taken notice, with more of them focusing on building these dwellings in order to produce denser developments and larger returns on their respective investments.

In May 2023, 29.1% of new home sales consisted primarily of townhomes and other such attached products, and this newfound attention from buyers on these housing options are not showing any sign of slowing its current momentum.

Skyrocketing interest rates on home mortgage loans have been the primary factor driving this increased interest in townhomes and condos, as single-family houses are currently outside of many people’s price range. Density in the form of two-story condominium projects are now starting to become a greater emphasis for many developers in the Las Vegas area.

In the first half of 2023, closings for new homes were down 12% year-over-year, with 4,106 single family homes closed on during that span of time. In contrast, 1,237 attached homes were closed on during that same time period, which represents a 6% increase from the first six months of 2022.

Of the new homes sold during the first six months of 2023, 23% of them were attached, including 29.1% in May and 25 percent in June. According to Touchstone Living’s Tom McCormick – one of the main townhome developers in the region – the number of townhomes and condominiums being sold in Las Vegas are on their way to reaching an all-time record high if these trends continue.

I’ve been here since the 1990s, and we’ve never seen it this high.” he said. “It’s about affordability and lifestyle. Land is so expensive and driving housing unaffordability, but with town homes, you can put more homes on the same amount of land. That makes the land cost per home lower and leads to a lower sales price.”

Shelter Realty is a Real Estate and Property Management Company specializing 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.

National Association of REALTORS

Distinguishing the Differences Between Real Estate Agents and Professional REALTORS®

LAS VEGAS, NV – To a novice, there are many aspects of the real estate industry that might remain a mystery to them, and experts say one of the most commonly asked questions they receive are from those inquiring about the differences between a real estate agent and a Realtor, with many people actually believing the two professions are one in the same. There are some very distinct differences, however, and we will briefly touch upon them in this article.

There is actually a large difference between real estate agents and Realtors. Simply put, real estate agents are licensed to buy and sell homes – much the same as a Realtor – but are not members of the National Association of REALTORS®(NAR), with the primary distinguishing factors between the two coming down to the certification, training, and professional standards required by the organization.

Members of NAR are held to a strict set of standards and a code of ethics – over and above what would be expected of a real estate agent – which revolves around the concept of “treating all parties honestly.” The professional standards of the organization are revised on an annual basis in order to incorporate any changes to laws and practices governing the industry, and a Realtor collaborates alongside local Realtor associations, unlike a real estate agent.

To put it in basic terms, not all real estate agents are Realtors, but all Realtors are real estate agents.

Real estate agents are required to take classes and pass a state exam that tests their knowledge of housing laws, sales, and purchases. They are expected to continue to take classes to keep their knowledge current and their license must be renewed every couple of years.

You must already be a licensed real estate agent to become a Realtor, taking the same classes and exams to keep your knowledge base current. However, being a Realtor comes with additional requirements over and above those that are expected of a real estate agent, including having a valid and active real estate license; actively working in the real estate business; having a record clear of official sanctions for unprofessional conduct; not having a recent or pending bankruptcy; and abiding by the professional standards imposed by NAR.

Real estate agents who are able to adhere to those requirements can then become a NAR member, officially making them a REALTORS®.

Abiding by NAR’s code of ethics of treating all parties involved in a transaction as fairly and honestly as possible is what has garnered Realtors the stellar reputation that they enjoy in the industry; it gives the clients and agents you are dealing with the comfort of knowing that you are looking out for their best interests throughout any transaction, and it is why some individuals prefer working with Realtors as opposed to real estate agents.

Shelter Realty is a Real Estate and Property Management Company specializing 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 Strip

Developer to Begin Adding New Individual Retail Locations Along Las Vegas Strip

LAS VEGAS, NV – While commonplace in many other cities, visitors to the famed Las Vegas Strip will take note of the general lack of individual, freestanding retail storefronts lining the four-mile stretch of roadway; instead, the majority of stores are located either within casino hotels or enclosed malls.  

However, one New York-based developer is looking to change that via two street-facing retail projects, with one recently opened and another currently under construction. 

Developer Eli Gindi – whose family founded and owns the Century 21 retail chain – is behind the under-construction “door on the street” retail property dubbed BLVD located at 3743 South Las Vegas Boulevard. Upon completion, this property will utilize 300,000-square-feet of space to deliver two stories of street-facing retail space, with a 100,000-square-foot rooftop overlooking the Strip offering dining and “hang out” area options for patrons. 

Meanwhile, Project 63 at Harmon Avenue and Las Vegas Boulevard is already open for business, offering up 186,000-square-feet of street-facing retail space right next to the upscale The Shops at Crystals, an enclosed mall owned by the Simon Property Group. 

The move to developing street-facing retail on the Strip shows how the area has evolved over the years, with a major sporting component being added to its impressive gambling and entertainment options. With new venues opening nearby – such as the Golden Knights hockey team’s T-Mobile Arena and the NFL Raiders‘ Allegiant Stadium – more and more sports fans are being lured to Las Vegas and, subsequently, the stores nearby their favorite team’s events that they came there to see. 

Additional sporting attractions – including an upcoming stadium for the Oakland Athletics baseball team, as well as the city hosting a Formula 1 race in November – should prove to continue to draw fans to the Las Vegas, resulting in even further retail expansion in and around the Strip

Shelter Realty is a Real Estate and Property Management Company specializing 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 Home Sales in Las Vegas

Luxury Home Sales in Las Vegas Reach Highest Level Ever in First Half of 2023

LAS VEGAS, NV – Sales of luxury homes in Las Vegas have now reached their highest level ever with a record-setting number of homes priced at $1 million or higher exchanging hands between January and June of this year, and the milestone is being associated with numerous factors, including increasing prices and escalating demand. 

During the first six months of 2023, 267 luxury homes costing $1 million and above were sold, besting the previous all time record of 237 homes sold in the first half of 2022, as per Home Builders Research; the report covered the sale of production homes only, and does not include instances where homeowners have purchased empty property and have utilized it to construct multi-million dollar custom homes upon it. 

Experts in real estate have noted that demand for luxury abodes in Las Vegas has been skyrocketing as of late due to very tight inventory and the fact that many standard homes do not have the opulent trappings and high-end amenities that affluent home buyers are typically looking for. 

In addition, the luxury market in Las Vegas has been performing better when compared to the middle-class housing sector since buyers in that price range typically possess a degree of wealth that current high interest rates on home mortgages are not a deterrent to making a purchase now. In contrast, many average-level income buyers are waiting in hopes that rates will come down at some point. 

Yet another contributing factor for the increase in $1 million and above sales in Las Vegas is the increasing costs associated with construction, which in turn has resulted in more new luxury homes being valued at that threshold than in previous years. 

Vegas has seen luxury sales increase year over year on a regular basis; the only year to buck that trend was 2020, when the COVID-19 pandemic put a temporary roadblock on home sales in the second quarter of the year.  

Shelter Realty is a Real Estate and Property Management Company specializing 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.

Young couple moving in new home.C

New Report Indicates Las Vegas Has Second-Lowest Percentage of Millennial Home Buyers in U.S.

LAS VEGAS, NV – According to new data compiled by Construction Coverage – a group that provides in-depth reviews of solutions for the construction and real estate industry – the Las Vegas Valley had the second-lowest number of millennial home buyers throughout the United States in 2022, signifying that the demographic is having a particularly difficult time obtaining housing in Southern Nevada. 

As per the report, approximately 49 percent of home buyers in Las Vegas during 2022 were millennials, with the average age ranging between 25 and 44 years old, placing the city second-to-last among major metropolitan areas with the lowest number of home buyers from that generation.  

The lowest on the list was Tucson, Arizona, with 44.9 percent. In contrast, the major metro area with the highest number of millennial home buyers was San Jose, California, with 74.4 percent. 

Construction Coverage’s study was based on information gleaned from the Federal Financial Institution’s Examination Council, and its author, Jonathan Jones, said that the hurdles faced by millennials in Las Vegas come down to a matter of dollars and cents. 

While there are certainly several factors that can influence the housing market, price typically has an oversized influence,” he said. “From January 2021 to December 2022, the Las Vegas-Henderson-Paradise metropolitan area saw the median home sale price increase by 40.4 percent, outpacing the national median by 6.6 percentage points.” 

Millennials inherently have less home equity than older generations, and the rapid increase in home prices in the Las Vegas area likely priced out many millennial homebuyers,” Jones added. 

The median price for an existing single-family home sold in Las Vegas in August was $447,435, which is only a very slight decrease from the $450,000 that represented the median price in July; year-over-year, August’s prices were down only 0.6 percent.  

While these numbers represent a certain degree of stability returning to the Las Vegas real estate market after years of skyrocketing prices, homes nonetheless are remaining out of reach for many millennials, who are being hit especially hard by skyrocketing inflation rates throughout the nation. 

Shelter Realty is a Real Estate and Property Management Company specializing 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.