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Category Archive : Real Estate

Innovative “Box Home” Manufacturer Looking to Set Up Shop in Las Vegas; Raising $30 Million to Establish First Factory

LAS VEGAS – Boxabl, an innovative new company that develops what they refer to as a “universal building box” – a fully customizable building system they claim allows for “true mass production” of buildings – is looking for the perfect location to set up their first facility, and they currently have their eyes set squarely on Las Vegas as their main candidate.

Boxabl notes that the company developed boxes can be mass produced in a factory; these boxes are essentially pre-made rectangular rooms that can be shipped flat – only 8.5 feet wide – to a building construction site, “unfolded,” and then incorporated into the structure, allowing for higher quality buildings at lower prices. The universal Boxabl box is a 20’x40’x9.5′ room that can be stacked, combined, modified, sub divided and finished to create almost any style of building at a fraction of the cost of a regular build, according to Boxabl.

If these boxes work according to plan, experts say, they could reduce average construction times by months and building costs by thousands, which would result in lower-cost homes and buildings by as much as 30 percent or more. The boxes – made from laminated expanded foam and cement board – would only be sold directly to construction companies and developers – not individuals, according to reports, as the average individual would not possess the know-how or support to properly utilize the system. The box construction and materials, Boxabl notes, make the rooms fire-resistant, impact-resistant, and weather-resistant.

Boxabl was founded in 2017, and was heavily noticed at the International Builders’ Show in Las Vegas after they showed off a box prototype. Currently, the company is in the process of raising $30 million to establish their first factory, which they want to set up in North Las Vegas, an epicenter of business and industrial development in recent years. If successful, the Boxabl factory would be located on a plot of land at least 40 to 50 acres in size, with their innovative boxes eventually becoming one of the largest and most-well-known products produced in Southern Nevada.

Time will tell, however, if Boxabl’s boxes gain the traction the company hopes for; if they do, the construction industry could be revolutionized.

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.

Famous Las Vegas Landmark “Little White Wedding Chapel” on Market for $12 Million; Joined Over 1,000,000 Couples

LAS VEGAS – Famous Las Vegas landmark “A Little White Wedding Chapel” has been the site of many quick celebrity weddings, and according to reports it’s now going up for sale by owner Charlotte Richards, who has owned and run the establishment since it first opened its doors 68 years ago.

A Little White Wedding Chapel first opened its doors 68 years ago and has been the site for numerous quick celebrity weddings. Photo credit: Facebook page for A Little White Wedding Chapel.

A Little White Wedding Chapel – which employs ten ministers and whose current asking price is $12 million – boasts of having joined over 1,000,000 couples in lawful matrimony; however, no statistics are available on how many of those couples have remained together. The Chapel is especially well-known for its “Drive-Thru Tunnel of Vows” wedding chapel, where eager couples can be married while on-the-go.

A Little White Wedding Chapel employs ten ministers and boasts of having joined over 1,000,000 couples in lawful matrimony. The current asking price is $12 million. Photo credit: Facebook page for A Little White Wedding Chapel.

A Little White Wedding Chapel is located on South Las Vegas Boulevard, prime real estate with currently skyrocketing land values. The property is represented by Steve Khalilzadegan of Savi Realty, who noted in a press release that the 15,802 square-foot facility has over 222 feet of Las Vegas Boulevard frontage on a total of one full acre of property. The $12 million price tag for such a location, Khalilzadegan insists, is a steal for such an iconic Las Vegsa landmark.

The Little White Wedding Chapel is located on South Las Vegas Boulevard, prime real estate with currently skyrocketing land values. The property is represented by Steve Khalilzadegan of Savi Realty.. Photo credit: Facebook page for A Little White Wedding Chapel.

A Little White Wedding Chapel is located on South Las Vegas Boulevard, prime real estate with currently skyrocketing land values. The property is represented by Steve Khalilzadegan of Savi Realty, who noted in a press release that the 15,802 square-foot facility has over 222 feet of Las Vegas Boulevard frontage on a total of one full acre of property. The $12 million price tag for such a location, Khalilzadegan insists, is a steal for such an iconic Las Vegsa landmark.

A Little White Wedding Chapel has over 222 feet of Las Vegas Boulevard frontage on a total of one full acre of property. The $12 million price tag for such a location, Khalilzadegan insists, is a steal for such an iconic Las Vegas landmark. Photo credit: Facebook page for A Little White Wedding Chapel.

Richards came into the wedding business after her first husband abandoned her in Las Vegas, and Merle Edwards – who worked in the wedding chapel business – rescued her from the street and soon after became her second husband until his passing in 1982. Richards originally purchased the Chapel – at the time only consisting of a single room – in 1951, and soon expanded the facilities to include gown and tuxedo rentals, a florist, performing Elvis impersonators, and, of course, the infamous Drive-Thru Tunnel of Vows mentioned above.

During her time with A Little White Wedding Chapel, Richards has presided over the marriages of celebrities such as Frank Sinatra, Judy Garland, Rita Hayworth, Mickey Rooney, Michael Jordan, Britney Spears, James Caan, Patty Duke, Mary Tyler Moore, Paul Newman, Bruce Willis and Demi Moore. The Chapel has been featured on such TV shows as WWE Raw, Supernatural, Friends, Good Morning America, and The Real World: 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.

Blackstone Group Considering Sale of Las Vegas Cosmopolitan Hotel and Casino; Could Fetch $4 Billion, Analysts Say

Blackstone Group Considering Sale of Las Vegas Cosmopolitan Hotel and Casino; Could Fetch $4 Billion, Analysts Say

LAS VEGAS – The Blackstone Group L.P. – an American multinational private equity, alternative asset management and financial services firm based in New York City – is considering putting one of their high-profile Las Vegas, Nevada assets on the open market for a potentially huge payday, according to reports.

Blackstone’s luxury resort casino and hotel The Cosmopolitan of Las Vegas on the Las Vegas Strip in Paradise, Nevada. The resort opened on December 15, 2010, and is located just south of the Bellagio on the west side of Las Vegas Boulevard. Photo credit: Allen McGregor

Blackstone has hired investment banks Deutsche Bank AG and PJT Partners Inc. to investigate the possibility of selling the Cosmopolitan of Las Vegas, a 3,000-room luxury resort casino and hotel located on the famed Las Vegas Strip. According to reports, a Vegas-based casino-resort has the potential to sell under the right conditions for as much as 13 times the amount of revenue that it takes in; in the case of the Cosmopolitan, this could amount to a sale price as high as $4 billion, analysts say.

The Cosmopolitan would represent the first resort of its type on the Las Vegas Strip to be put up for sale in over 10 years, if Blackstone decides to follow through with it. Reports indicate that Wynn Resorts Ltd. and MGM Resorts International may have eyes on the property if it does indeed become available, although this has not been confirmed as of now. Local media have reached out to both groups but have yet to receive responses from either one on the matter.

The Cosmopolitan opened on December 15, 2010, and is located just south of the Bellagio on the west side of Las Vegas Boulevard. It consists of two high-rise towers – the Boulevard Tower and the Chelsea Tower – both of which are 184 meters (603 ft) tall. The $3.9 billion project features 3,027 rooms, a 110,000 square foot casino, 300,000 square feet of retail and restaurant space, a spa and fitness facility, a 3,200-seat theater, and meeting and convention space.

The Cosmopolitan was purchased for $1.73 billion by Blackstone in 2014 and invested an additional $500 million into the property in order to build large luxury suites intended to house high-profile gambling guests, as well as renovating existing rooms and adding new bars and restaurants to the resort. The Cosmopolitan currently is one of the priciest hotels on the Las Vegas Strip, with an average stay running over $300 a day.

Blackstone – which owns numerous properties, in Vegas and worldwide – was founded in 1985 as a mergers and acquisitions boutique by Peter G. Peterson and Stephen A. Schwarzman, who had previously worked together at Lehman Brothers; since then, Blackstone has become the world’s largest private equity investment firm. As of 2019, the company’s total assets under management were approximately $470 billion dollars. In April 2019, Blackstone disclosed it was converting to a corporation from a publicly traded partnership.

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.

Animal Planet Reality TV Star Brett Raymer Puts Lavish $3.2 Million Las Vegas Home Up for Sale (MLS # 2083719)

LAS VEGAS – Brett Raymer, the former co-star of Animal Planet reality television show “Tanked,” has his Las Vegas home up for sale for the cool asking price of $3.2 million, according to recent reports.

Tanked, which has aired on Animal Planet for 15 seasons since it first premiered in August of 2011, follows the operations of the Las Vegas-based aquarium manufacturer Acrylic Tank Manufacturing, owned by Raymer and his brother-in-law Wayde King. Raymer also owns Donut Mania, a doughnut shop franchise with several locations in the Las Vegas Valley.

4664 Evan Ridge Court (MLS # 2083719), is located in the Lone Mountain neighborhood of the city of Las Vegas, NV. The home has 7 bedrooms and 7 baths, a theater, resort style swimming pool and more. It is listed for $3,200,000 and is 9,760 sq ft with a lot size of 23,086 sq ft.

Raymer’s home, a Tuscan-style villa located in Northwest Las Vegas Valley that he originally bought for $1.15 million in 2014, is over 12,000 square feet and occupies a plot of land that is a half-acre large. The three-story residence has seven bedrooms, six full baths and one-half bath, and features clear views of the Las Vegas Strip. In addition, the home also boasts numerous amenities that were added by way of an extensive series of renovations after Raymer moved in, such as ornate landscaping, a resort-style pool, movie theater, wine /cheese cellar, and an aquarium with a design inspired by the famed lost city of Atlantis.

4664 Evan Ridge Court (MLS # 2083719), is located in the Lone Mountain neighborhood of the city of Las Vegas, NV. The home has 7 bedrooms and 7 baths, a theater, resort style swimming pool and more. It is listed for $3,200,000 and is 9,760 sq ft with a lot size of 23,086 sq ft.

According to Animal Planet’s website, Raymer’s company is responsible for numerous awe-inspiring projects in the Southern Nevada region for a variety of prominent celebrity and business clients:

4664 Evan Ridge Court (MLS # 2083719), is located in the Lone Mountain neighborhood of the city of Las Vegas, NV. The home has 7 bedrooms and 7 baths, a theater, resort style swimming pool and more. It is listed for $3,200,000 and is 9,760 sq ft with a lot size of 23,086 sq ft.

“Acrylic Tank Manufacturing is one of the country’s most successful builders of aquariums and two of Sin City’s most imaginative businessmen, Wayde King and Brett Raymer, are tasked with building some of the most enormous and awe-inspiring tanks and aquariums for top celebrities, luxury hotels and casinos, Fortune 500 businesses, private homes and millionaire homeowners across the country. ATM takes on more than 200 projects every year with tanks ranging from 50 to one million gallons in size.”

4664 Evan Ridge Court (MLS # 2083719), is located in the Lone Mountain neighborhood of the city of Las Vegas, NV. The home has 7 bedrooms and 7 baths, a theater, resort style swimming pool and more. It is listed for $3,200,000 and is 9,760 sq ft with a lot size of 23,086 sq ft.

On March 17, 2019, Animal Planet announced that the series would conclude with its 15th season.

For more photos and details, check out the full listing.

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 Mass Murderer Stephen Paddock’s Home Purchased for $305,000; Proceeds to be Distributed Among Victim Families

LAS VEGAS – The Reno, Nevada home of late Stephen Paddock, the individual behind the tragic 2017 Las Vegas shooting that claimed the lives of killed 58 people and wounded 422, has been sold for $305,000 in cash after sitting on the market for the past nine months, according to reports.

The MLS photo for the W Del Webb Parkway home in Reno as it sat for sale.

Northern Nevada real estate agent Margaret O’Neill purchased the two-bedroom property, offering a bid that was $5,000 higher than a couple who were also interested in it. O’Neill was quoted in media reports as saying that her firm will likely attempt to re-sell the home, which is located in a 55-and-older community.

On the night of October 1, 2017, Stephen Paddock opened fire on a crowd of concertgoers at the Route 91 Harvest music festival on the Las Vegas Strip in Nevada. He killed 58 people and wounded 422, and the ensuing panic brought the injury total to 851. Paddock, a 64-year-old man from Mesquite, Nevada, fired more than 1,100 rounds of ammunition from a suite on the 32nd floor of the Mandalay Bay Hotel. The shooting occurred between 10:05 and 10:15 p.m. PDT; about an hour later, Paddock was found dead in his room from a self-inflicted gunshot wound. His motive remains undetermined.

The incident is the deadliest mass shooting committed by an individual in the history of the United States.

According to a court ruling, any money generated via the sale of Paddock’s assets – including this home, as well as a second home he owned in Mesquite that sold earlier this year, both of which were seized by the court and put on the market – will be distributed among the families of the 58 people he is responsible for killing.

The Reno house was initially appraised for $367,000 and listed on the market for $400,000, considered at the time an unrealistic amount due to Paddock’s infamy and it’s expected affect on the home’s real-world value; after no offers were made on the property, the price was lower to $374,900 before eventually selling for $305,000. According to reports, the majority of people who showed up to open houses for the property were there more out of morbid curiosity than any real desire to purchase the house. In contrast, Paddock’s Mesquite house was appraised for $394,000 but sold in January for $425,000 to an Oregon couple.

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.

Hit HGTV Series “Flip or Flop Vegas” Returns for Third Season

LAS VEGAS – The HGTV hit television series Flip or Flop Vegas has returned for a third season this year, highlighting the unique ups and downs of the Southern Nevada real estate scene with the first of its latest batch of new episodes recently premiered on March 21.

Featuring the exploits of Aubrey Marunde, a Vegas-based real estate expert and designer, and her husband Bristol, a designer, contractor, and former Mixed Martial Artist who has competed in the UFC and Strikeforce, the program sees the couple buy distressed properties and renovate them while a camera crew captures the process from beginning to end. A spin-off of the series Flip or Flop, the program originally debuted on April 6, 2017 and proved to be an instant hit, finding a loyal audience and earning 12.5 million viewers since its premiere.

Season three features an additional 10 episodes in which the Marundes – owners of real estate company Alter Luxury – take downtrodden residences in the region and renovate them in the flashy, well-known style that many have come to expect of Las Vegas. The design aesthetic the Marundes’ bring to their typical flip typically entails lots of chandeliers and lighting and hardware in order to deliver an over-the-top result that has garnered a big demand for the couple’s work. The couple’s time to flip a property averages about three weeks; once on the market, their average sell time is five to seven days.

Due to the strong demand for homes in Vegas, Bristol noted that the experience of flipping homes there – the act of repairing and renovating a house with the intention of quickly selling it for a profit – is a far more intense experience than in many other parts of the country. With the speed in which land is being picked up by developers, she said that a flipper needs to be able to be fast on the draw when it comes to identifying and buying prospective properties; in addition, the properties she and her husband renovate are snapped up at far faster speeds than elsewhere in the country as well, leading to a never-ending supply of fodder for future episodes of their TV show.

Bristol Marunde originally came to be noticed by HGTV via her Instagram page, where she showcased her numerous home renovations; this opened the door for the Marundes to get a shot at their own TV series, High Stakes Flippers, in 2016. Eventually, the concept morphed into Flip or Flop Vegas as the duo attempted to ply their trade – quite successfully – in Sin City itself.

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.

Henderson Noted as City with Fastest-Rising Rents in U.S., According to Reports

LAS VEGAS – With the recession over and done with and the real estate market on the mend in a major way, living expenses overall in Las Vegas – particularly rents – have been experiencing a steady climb over the course of the last few years as the improved economy is luring businesses and jobs into the region. Henderson is an especially poignant example of this phenomenon, having been currently ranked by ApartmentList.Com as the city with the fastest-growing rental prices in the United States.

Henderson is the second-largest city in Nevada, and according to reports, it has been experiencing growth in the cost of rental properties that outpaces any comparable city in the country over the course of the past year. The current 2019 monthly rent of an average two-bedroom apartment in Henderson comes in at $1,340, which represents a jump if 3.7 percent over the same period one year ago; the national average rental price, however, only increased 0.9 percent. This cements Henderson as a growing location in terms of demand, but it remains to be seen that, if rent continues to climb at its current rate, if the cost of living will eventually outstrip that demand.

A close contender in terms of rising rents is Las Vegas itself, which currently ranks fifth in the country; a two-bedroom apartment in Vegas will typically set you back $1,160 per month in 2019, which is an increase of 3.1 percent over the same period in 2018. Again, it remains to be seen if these increases will eventually become prohibitive to renters who are looking to get the most for their money in terms of living expenses.

Henderson and Las Vegas are standouts in the sense that, in much of the rest of the United States, rental costs – while also increasing overall – have nonetheless risen at a comparatively much slower rate throughout 2018.
Las Vegas’ rental scene has seriously ramped up in recent years, with the area seeing a large increase in development, especially in suburban areas. In addition, investors have been making numerous purchases of apartment buildings, rental complexes, and reduced vacancies – brought on by a large influx if new residents looking for jobs have produced a climate where rents have been rising to the point that some tenants are finding difficult to keep pace with. Work, however, is being undertaken by numerous developers in order to construct new and affordable housing options in order to bring more stability to Southern Nevada’s housing and rental market.

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 Home Prices in January Spike to Highest Point in Months

LAS VEGAS – Since bouncing back in spades from the mid-2000’s burst of the housing bubble and the resultant economic woes that event thrust upon the majority of the nation, the Las Vegas real estate scene has been skyrocketing in value as home prices have been soaring, regularly outdoing themselves as people move into the region seeking to take advantage of new jobs and a lower cost of living.

However, while that cost of living still remains far below average for much of the country – neighboring Californians are currently paying roughly twice as much or more for much less – the constantly-raising home prices in Las Vegas are nonetheless starting to cause a bit of strain on the marketplace. While houses and apartments are still in great demand, the costs are beginning to reach the breaking point for some. January 2019 represented prices that reached their highest point in months, with the median sales price of single-family homes hitting $300,000; this represents a 1.6 percent increase from December 2018 and a 13.2 percent increase from the same period one year ago.

Again, this price range is far below the national average, but it’s still reaching a point that can no longer be considered “cheap” anymore, either. The market sets the price, unfortunately, and while local developers race to increase their output, it hasn’t been fast enough to placate demand and lower prices.

January also represented another sobering reality for the Las Vegas housing market, as overall home sales were lower than in recent months. Over 7,200 single-family homes were on the market without offers at the end of January, which represents a bump of 9.7 percent from the previous month. However, January is a tricky month to base sales data off of, as this is considered the slowest period for sales in general; experts predict that sales will increase as the year goes on.

Nonetheless, some buyers have reported exercising caution and taking more time to weigh their options when it comes to purchasing homes in Las Vegas, given the vastly-increasing prices in the marketplace. But as developers increase their output and more housing options are made available at a wider variety of costs, prices are expected to gradually lower and bring stability back to a market that still is among the cheapest in the nation amid a booming local economy.

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 Home of Mob Enforcer Tony Spilotro Sold

LAS VEGAS, NV – The former Paradise Park home of infamous mafia enforcer Tony Spilotro – famously portrayed by Joe Pesci in the 1995 Martin Scorsese film Casino – has recently been sold. Originally listed on the market for $419,900, the single-story ranch home located at 4675 Balfour Drive was originally constructed by Spilotro and his wife Nancy in 1974.

The home, featuring spacious 2,400 square feet replete with four bedrooms, two bathrooms, a spacious two-car garage, and a backyard pool, is the largest home in its neighborhood. Although considered on the modest side by modern standards, during the 1970’s the residence was considered upper middle-class, and Spilotro – by reports a “blue-collar guy” –  was known to throw large parties for his fellow Balfour Drive residents in order to stay on good terms with them. Allegedly, in a large walk-in closet in the main bedroom, Spilotro was known to store large amounts of currency and guns.

The current owner is XL Steel president David Stevens, a contractor, who purchased the home in 2017 after learning of its past owner for $275,000, according to Clark County records.

“I’m a Vegas history buff and couldn’t resist the opportunity to own a unique piece of history,” Stevens told the Las Vegas Review-Journal recently.

David Stevens

Spilotro, nicknamed “The Ant” and “Tough Tony,” was an mobster and enforcer for the Chicago mob in Las Vegas during the 1970s and 1980s. Spilotro became a “made man” in 1963, at 25 years old, and his job in Vegas was to protect and oversee the mob’s illegal casino profits at a time when some of the casinos were run by sports bettor casino executive Frank “Lefty” Rosenthal, portrayed in Casino by Robert De Niro. 

The film Casino takes some creative license with the facts and timeline, but is broadly accurate to Rosenthal’s story and his relationship with Spilotro.
Spilotro, who according to the FBI is believed to have been responsible for about two dozen murders, eventually ran afoul of his organized crime overseers who disapproved of his handling Las Vegas affairs; they arranged his murder in 1986, along with his brother, Michael, a scene that is brutally depicted in the 1995 film.

Spilotro’s wife eventually sold the home in 1997, and since then it has had four owners. The final sale price of the home, and the identity of its new owner, is currently not known.

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’ Bizarre “Underground House” On the Market for $18M

Vegas’ Bizarre “Underground House” On the Market for $18M

LAS VEGAS, NV – Las Vegas is home to a great many eye-catching structures and oddities, but one of the most remarkable of them isn’t eye catching at all… mainly because it’s located 26 feet underground.

The Underground House at 3970 Spencer St, Las Vegas, NV 89119 (50 photos, link below)

The infamous “Underground House,” originally constructed by Avon founder and subterranean living enthusiast Jerry Henderson in 1979, has been officially put on the Vegas real estate market for a whopping $18 million. That’s quite a mark-up from its previous selling price in 2015 of $1,150,000, but the current owners maintain that the novelty – combined with the sheer expense involved in attempting to replicate the house’s unique design elsewhere – make the inflated price tag well worth it.
Henderson allegedly built the Underground House owing to fears over nuclear war or other catastrophes, although modern reports indicate that it would likely provide inadequate protection from a serious nuclear attack.

The above-ground portion of the Underground House – located 2.5 miles from the Las Vegas Strip – looks plain enough upon first inspection, being a simple townhouse that Jerry Henderson’s widow lived her remaining years in upon her husband’s passing in 1983. But delve into the earth below and you’ll discover a vast complex boasting five bedrooms, six bathrooms, and numerous extravagant amenities, all designed with a flashy 1970’s flair that goes the proceedings a distinctively retro-look.

Visitors to the Underground House – with the 15,000 square-foot space accessible via stairs or elevator – will find themselves greeted by a faux “outdoor” yard populated with a grass-colored carpet, artificial trees, bushes, and rocks, as well as murals on the walls and ceilings depicting the sky, horizon, and various bits of country scenery. Lights can be adjusted to represent different times of the day, and twinkling lights in the ceiling represent a starry nighttime sky.

In the center of it all is the house itself, reflecting a 1970’s design sensibility and including an elaborate bar and a kitchen with a vibrant pink color scheme. Glass panel doors, as you would normally see on a typical above-ground house leading into the backyard, separate the interior of the house from the “outdoor” area.

Speaking of the outdoor area, it is replete with a number of perks, including a pool, two hot tubs, a sauna, a dance floor, a barbecue area (complete with a picnic table and chairs), and a four-hole putting green. In addition, there is a separate guest “house” on the “property” for when visitors come calling.
Despite the 70’s design aesthetic, prospective buyers of the Underground House will be happy to know that the current owners – the mysterious Society for the Preservation of Near Extinct Species – didn’t skimp on adding modern technological aspects. Climate control is provided by eight heavy-duty air conditioning units, cell phone service is accessible via underground repeaters, and cable TV and Internet are available as well. In addition, the property has a 1,000 fresh water tank as well.

It just goes to show you that just when you think you’ve seen it all in Las Vegas, you only have to direct your gaze downward to find that there’s even more going on beneath the surface. 

Looking for relocation information on the fast-growing Las Vegas market? New home recommendations? Las Vegas apartments, condos or rental info? Please feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

Las Vegas: The Hottest Real Estate Market of 2018

LAS VEGAS, NV – As always, the real estate market in the United States can be a highly competitive one, but when looking back at the year 2018 in review, one territory stands out clearly above all the rest as the hottest market in the county: Las Vegas, Nevada.

Based on home price growth alone, Vegas reigns supreme as the biggest housing market of the past year, and part of that status can be directly attributed to its relatively low cost of living not only when compared to much of the country – Vegas remains one of the cheaper metropolitan areas in the country to live – but especially when directly compared to its immediate neighbor: California. California boasts some of the highest home prices and cost of living in the nation, and it’s that crucial fact about its housing market that makes Southern Nevada that much more attractive not only to tourists, but to people and families looking for a new place to live that is affordable.

However, it’s not just the affordability factor that made Vegas’ real estate market so hot in 2018; a number of other factors functioning in tandem helped with that. Major job creation, coupled with diversification in multiple industries in the region, is another contributing reason. After the recovery from the housing market crash of the mid-2000’s, Vegas saw a variety of companies and businesses settle down within its borders; companies and businesses that need qualified workers, and because of that the city quickly saw an influx of new transplants from across the country, effectively kick-starting the local real estate market that has been otherwise sitting dormant for nearly a decade. With that demand, housing prices started to quickly climb in the region, although nonetheless remaining at levels comparatively lower than the much of the rest of the country.

For example, let’s compare median single-family home prices in Las Vegas to California. In the third quarter of 2018, a home in Vegas came in at approximately $294,600; when compared to the same home type in Los Angeles – $628,900 – and San Diego – $650,000 – and Orange County-Anaheim – a whopping $830,000 – it’s easy to see why Las Vegas suddenly becomes a very attractive alternative, even with its own real estate market currently on the rise.

Vegas also overtook Seattle, Washington as the king of the fastest-growing home prices, with 13 percent jump in September 2018 over the same month one year before. Vegas’ real estate market had previously peaked back in 2006 before the burst of the housing bubble, and while prices locally have recovered and grown significantly since then, they are still 20 percent below 2006 levels. If ever there was a time to buy in a rapidly-growing marketplace, now is clearly the time and Las Vegas is clearly the place.

Thinking about relocating to Las Vegas? Need some ideas on what areas fit your family best? New home recommendations? Las Vegas apartments, condos even nightlife and entertainment? Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

Las Vegas Asian-American District Receiving New Retail and Business Additions

LAS VEGAS, NV – Las Vegas boasts a diverse and wade array of residents, and one of the segments of this population that is growing at an especially rapid rate is Asian-American contingent; currently drawn to the Southern Nevada region from areas of the country including California, New York, and even Hawaii, Asian-Americans are making up an ever-increasing segment of Vegas’ residents due to the many opportunities that are being offered by the city’s rapidly-rebounding economy and job market.

Developers are looking to take advantage of this demographic by recently announcing an increase in construction in Vegas’ Asian-American district, particularly in the form of new retail and business-related projects on Spring Mountain Road. Recently, local dignitaries turned out for a groundbreaking event in that will signify the kick-off of work on a 33,000 square-foot plot of currently-vacant land that, once development is complete, will offer new office space, restaurants, and more to local residents.

Special effort will be given to making maximum use of the available space, the developer noted, as land is scarce for new projects in this area; Spring Mountain Road represents a very busy roadway that travels through the very heart of Vegas’ Chinatown district, and as a result conditions are tight.

The event included a festive scene as Asian-themed celebrations incorporating dancers, dragons, and authentic music ushered in the commencement of work on the project, located in the vicinity of Spring Mountain and Jones. Developers noted that the design of the upcoming business and retail complex will make use of a modern yet distinctively Asian aesthetic in an effort to attract both younger and older members of Vegas’ growing Chinese population. The new retail and business opportunities are expected to lure in one of the most desired demographics in the region – traditional families as well as tech-savvy millennials.

The new project, according to the developer, should usher in a fresh new vibe to the region and attract a younger, hipper demographic; in addition, the fresh construction and design elements should inspire neighboring businesses – including some that have become somewhat run-down over the years – to follow suit and invest in a serious facelift.

After the recent groundbreaking, project managers for the development have said that construction should start kicking into gear within several weeks. The first new business tenants are tentatively expected to move in and open their doors by December of 2019, if all goes according to plan.