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Category Archive : Real Estate

las Vegas desert

11 Million Square-Foot Industrial Project Planned for North Las Vegas

LAS VEGAS, NV – San Francisco, California-based Prologis has announced plans to build an 11 million square-foot industrial project in North Las Vegas that will be situated upon 879 acres at Apex Industrial Park that the developer purchased last week. 

The project is slated to take the form of several buildings and construction is anticipated to begin within the next three years, with Prologis planning on also covering the cost of installing utilities at the site, located at Highway 93 and Grand Valley Parkway. 

The developer has not disclosed the price that they paid for the land and the deed has yet to be filed with Clark County officials. 

Prologis’ investment officer, Mathias Hughes, noted that the company sees massive untapped potential in the area in terms of its use as an industrial hub, which is what drove their decision to purchase and develop the land. 

Prologis has been operating in North Las Vegas for more than 30 years,” he said. “Our Vegas Industrial Park project demonstrates our commitment to the market while also enabling us to maintain our development momentum in Southern Nevada.” 

Hughes also justified the new development by referencing the success that Prologis has enjoyed with their previous commercial real estate investments in Las Vegas, noting that the company currently boasts 13.9 million square feet of space in the Las Vegas Valley, 96 percent of which is currently leased. 

We continue to see strong demand for modern and well-located logistics facilities in the market,” he said. “This industrial park will be best in class and its strategic location makes it ideal for a wide range of companies with varying logistics needs.” 

No tenants have been signed up for the Apex Industrial Park property as of yet. 

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.

Real Estate Scam

Nevada Officials Caution Residents of New Widespread Real Estate Scam

LAS VEGAS, NV – Officials representing the Nevada Division of Insurance and the Nevada Real Estate Division have issued warnings to state residents over a new and increasingly widespread real estate scam known as “vacant lot fraud” or “seller impersonation fraud.”

This particular scam involves individuals pretending to be owners of properties or vacant lots and attempting to sell them before the owners and/or buyers wise up to the scheme. Officials say that there are numerous telltale signs that people should look out for – which are detailed below – before these bad actors are able to separate them from their hard-earned money. 

The fraud works like this: the perpetrator will look through public records in search of real estate that is free of mortgages or liens, and then pretend to be the owner of the property and list it for sale through a real estate agent. The most common targets of this scam are unoccupied properties such as vacant lots and vacation or rental properties that the owner does not personally reside in. 

These scammers normally list the properties below their established market value and quickly accept the first offer they receive; from there, they send falsified documents for the closing and then quickly collect the proceeds and disappear, with the victims completely unaware that they’ve been bamboozled until the fake documents have been recorded with the county. 

The Nevada Division of Insurance and the Nevada Real Estate Division have provided a comprehensive list of the telltale signs of seller impersonation fraud, and they are as follows: 

  • Seller refuses to attend signings; always claiming to be out of town.  
  • Seller requests to use their own notary. 
  • Seller demands proceeds be wired. 
  • Seller has a different address than the owner’s address or tax mailing address. 
  • Seller refuses or is unable to complete multifactor authentication of identity verification. 

In addition, the following precautions can also help you avoid being a victim of this scam: 

  • Send mail to the seller at the address listed on tax and property records. 
  • Ask the seller’s real estate agent if they have personal or verified knowledge of the seller’s identity. 
  • If using a remote notary, be sure the notary is fully vetted and approved by your state; otherwise, the title company should arrange for an in-person notary signing at an attorney’s office, title agency, or bank. 
  • Contact the seller directly at an independently discovered and validated phone number. 
  • Verify the sellers identify by sending the seller a link to complete a third-party identity verification. 
  • Run the seller’s email and phone number through a verification program. 
  • Ask conversational questions to ascertain seller’s knowledge of property information not readily available in public records. 
  • Compare the seller’s signature to previously recorded public documents. 
  • Use a wire verification service or confirm wire instructions match account details on seller’s disbursement authorization form. 
  • Require a copy of a voided check with a disbursement authorization form. 
  • Require that a check be sent for seller proceeds rather than a wire. 

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.

House-Buying in Las Vegas

Tips on House-Buying in Las Vegas During a Complex and Competitive Marketplace

LAS VEGAS, NV – With high mortgage rates, decreased sales, and complications due to a currently-high inflation rate, the real estate market can be incredibly complex and competitive to navigate, and Las Vegas, Nevada is no exception to that rule. So, local experts have pitched in to offer some tips on house buying in Southern Nevada, a market which is still proving to be a hotbed of sales activity despite the financial trials and tribulations being experienced across the country. 

First and foremost, a prospective buyer should always make sure to select a qualified realtor to aid them in their search for a home; buying and selling properties without the aid of one throughout the course of the transaction is NOT recommended. 

Looking up reviews of realtors on reputable real estate websites is a good idea, and conducting plenty of research to make sure you’re finding the right person for the job is essential when it comes to the largest purchase you’re ever likely to make in your lifetime. 

Next, you should establish a budget that is both clear and realistic, taking into account how much you can realistically afford; this may narrow the options available to you, but it also helps you to avoid getting into a serious financial bind down the road. When determining a budget, a buyer should take into account numerous financial aspects, including their income, debt, any possible future expenses, and the currently high level of interest rates on home loans. 

High interest rates on mortgages have resulted in a bit of a slowdown in the Las Vegas real estate market due to the fact that many current homeowners are locked into lower interest rate loans and are loathe to sell. This has placed a limit on the amount of available housing inventory at the moment which is presenting budget challenges to buyers, with more and more of them remaining in the rental market for the time being while waiting for conditions to improve. 

However, experts recommend that for those with the financial means to do so, there are indeed a growing number of home buying options available to them in Southern Nevada – especially in the suburbs – and potential refinancing options could be available in the future if and when interest rates drop to a more manageable level. 

Home buying these days may be more difficult than it used to be, but with effort, financial savvy, due diligence, and the right realtor by your side, it’s still an achievable dream for many. 

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.

2590 EAST VIKING ROAD

Football Fanatic Lists Las Vegas Home Filled with 2,000 Helmets for $1.15 Million 

LAS VEGAS, NV – An avid football fanatic has listed his Las Vegas home on the open market – after having lived there for 23 years – for $1.15 million, and one only need look inside to realize the depths of his esteem for the game, as his home is filled to nearly bursting with a mind-blowing 2,000 collegiate team helmets

In fact, that’s why Pug Winkler, 77, is finally looking to move out of the 2590 East Viking Road residence, as his collection – one of the world’s largest – has simply outgrown its 6,000 square-feet of space. And while the helmets – which are prominently mounted and displayed on the walls of practically every room of the house, even the kitchen and bathrooms – are not included in his current asking price, he noted that they can be included for the right amount of money. 

Obviously there’s a price for everything, but I would never break them up and sell them individually,” Winkler said. 

Winkler, originally hailing from Brooklyn, New York, said he’s been collecting football helmets for 50 years; unmarried, he said he had the luxury of not being forced to confine his hobby simply to a man cave or side office, but instead was able to spread it out to encompass the entirety of his home. 

2590 EAST VIKING ROAD, LAS VEGAS – $1,150,000.00

I have no wife to answer to, and if I did, and she said no, she wouldn’t be my wife anymore,” he said, who never actually played football himself in college but “loves watching the kids play.” 

Winkler began acquiring his helmets after selling a previous substantial collection of sports memorabilia; proceeds from that sale were large enough that he was able to retire, build his home, and go on numerous trips around the world. 

The property for sale consists of two houses – the main and an attached guesthouse – with Winkler’s collection spread out amongst the two of them. The main house comes in at 3,770 square feet and has four bedrooms and three bathrooms; the master bedroom boasts numerous amenities, including a jacuzzi, a sauna, and two walk-in closets, where he stores his collection of 150 football uniforms. 

Meanwhile, the guesthouse is 2,169-square-feet in size with four bedrooms and three bathrooms and can bring in as much as $4,800 per month in rent. 

Upon making the sale, Winkler said he plans on moving to Arizona.

See full listing details for 2590 East Viking Road, 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.

District Court, Northern District of Illinois

Las Vegas Real Estate Agents React to Pending Lawsuit That Could Change How Realtors Are Compensated

LAS VEGAS, NV – Real estate agents in Las Vegas – and, across the country – are paying very close attention to a current class action lawsuit filed by home sellers that, if successful, could have serious ramifications upon how realtors are compensated for the property transactions they handle. 

How compensation is currently handled for a real estate agent is that they are essentially paid the same commission from the seller regardless of their degree of experience; a newcomer will make the same exact amount as one that has been in the industry for many years. 

However, the plaintiffs in Moehrl v. National Association of Realtors (NAR) – a lawsuit filed in the state of Illinois against both NAR and several major real estate brokerage companies – argue that home buyers should pay for their own agents; this is opposed to the current practice in the industry, where the commission paid by the seller between buyer and seller agents is split, which the plaintiffs claim is anti-competitive. 

Speaking to a local Fox affiliate news station this week, Las Vegas-based real estate agent Steve Hawks expressed concerns that – should the plaintiffs prevail in their case – it could result in buyers being much choosier about who they work with, which could force many new real estate agents out of the industry altogether.  

If this lawsuit goes through, it would probably cut the agent count from 1.6 million to about 200,000,” he opined. “It’s going to impact agents that aren’t experienced.” 

Hawks said the reason that inexperienced realtors would be disproportionately affected in a negative way if the plaintiffs win their case is because if buyers are forced to shoulder the burden of paying fees in the event of a home sale, they will almost certainly want to go with an agent who has more experience in the field. 

If you’ve been in the business one day or 30 years, when you do a transaction on the MLS (Multiple Listing Services), you’re getting paid the same amount,” he said. “In the future, when the buyers see that it’s going to cost them money one way or the other with their agent, they’re going to start interviewing their buyer’s agent similarly to how sellers do their listing agent.” 

Jaime Solorzano is a newly licensed real estate agent in Las Vegas, and said that he isn’t worried about the outcome of the case considering how hot the local market is currently. 

It doesn’t scare me. There’s many obstacles you always have to overcome. That doesn’t put fear in me,” he said. “It’s actually going to become even better. People are attracted over here more. People are coming in often, often. Way more than usual.” 

Moehrl v. National Association of Realtors is expected to be decided at some point in 2024. 

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. 

redfin

New Report: Las Vegas is Number 1 Place Nationwide for Relocating Homebuyers 

LAS VEGAS, NV – As per a new report released this week, when prospective homebuyers nationwide are looking for a new place to relocate, the Las Vegas valley is currently the most searched location out of entirety of the United States. 

Real estate brokerage Redfin noted that home buyers are being inspired to flock to Las Vegas by several notable factors, the most prominent of which being its extremely high degree of affordability when compared to other parts of the country. 

Buyers with the freedom and inclination to relocate are choosing Las Vegas largely because their money goes a long way there,” the report said. “Its typical home sells for $412,000, less than half the price of a home in Los Angeles, the most common origin for buyers moving to Las Vegas.” 

The data in the report was accumulated from searches conducted by approximately 2 million Redfin.com users between April 2023 and June 2023 and encompassed queries for homes currently on the market across over 100 major metropolitan areas. 

In addition, the Redfin report notes that in the second quarter of 2023, a full 25 percent of their users indicated that they were looking to relocate to a different metropolitan area other than where they currently reside, which constitutes a record number of the site’s users looking to move. 

The Redfin report is backed up by newly released research from the University of Nevada, Las Vegas’ Center for Business and Economic Research, which indicates that 115 people are moving to Clark County on a daily basis. In fact, Clark County’s population is expected to grow by approximately 42,066 residents in 2023 alone, and the number of people moving there will continue to increase, according to UNLV, with that number possibly increasing to as many as 56,000 new residents in 2026. 

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. 

Complex on track to be the first high-rise constructed in Henderson

New Luxury Apartment Complex to Be Constructed in Henderson; First High-Rise Building in City

LAS VEGAS, NV – The new high-rise apartment complex is slated to be constructed in Henderson – the first-ever located in the city – with the developers stating they plan to raise the bar in terms of luxury accommodations in the region. 

The complex – dubbed Four Seasons Private Residences Las Vegas, a fully-serviced luxury residential project – is set to break ground and begin construction at the end of 2023. It will take the form of two towers containing 171 homes, as well as six additional private villas to be located off-site in McDonald Highlands.  

Four Seasons, upon completion, will encompass 7,300 interior square feet and 5,000 exterior square feet, and is being built in partnership with Azure Resorts & Hotels and Luxus Developments. 

The developers describe the project as being a “single-family home, but in the sky,” with the units being marketed to families who are seeking to downsize from high-maintenance houses to a high-rise home with a similar layout. 

The project is also pioneering what they refer to as a “lock and leave” concept, wherein residents can leave their keys at the front desk when going away and have management watch over and maintain their home in their absence. 

Four Seasons will boast 24-hour staff and over 90,000 square feet of amenities, including media rooms, gyms, a golf simulator, an indoor jacuzzi, cryotherapy chamber, wine cellars, meeting rooms, indoor pools an on-site world-class chef with food delivery service, and more. Residents will also be able to access their units through private garages – complete with electric vehicle charging stations – or private elevators. 

Such lavish accommodations certainly don’t come cheap: the homes start at $3.5 million, with some of the high-end penthouses costing as much as $45 million and featuring extras such as large terraces and outdoor kitchens.  

50 residences have been sold already, according to the developer, totaling $250 million in sales so far; the project is expected to open in the first quarter of 2026. 

For more information on Four Seasons Private Residences Las Vegas, please visit https://www.fourseasons.com/residences/private_residences/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. 

Las Vegas

Report Indicates That New Las Vegas Home Listings Have Decreased by Over 50 Percent

LAS VEGAS, NV – New data released by Las Vegas Realtors indicates the number of listings for new homes within the Las Vegas Valley have decreased by approximately 52 percent year-over-year in July, representing a historically low inventory of homes currently on the market. 

The housing market in Las Vegas is currently a one-of-a-kind occurrence, experts say, due to the limited number of homes available for sale along with numerous other mitigating factors – including high interest rates on home mortgage loans – that is creating a degree of demand not otherwise reflected by the majority of the real estate market in the rest of the country at the moment. 

A major example of this phenomena, according to Redfin, is the fact that out of all of the metropolitan areas in the United States, only Las Vegas saw an increase impending home sales in July. In fact, the new Las Vegas Realtors report notes that only 3,524 single-family homes were listed for sale last month without any offers, which represents a 4.2 percent decrease from June, and a whopping 51.9 percent decrease year-over-year. 

Redfin also reports that Las Vegas had a 43.4 percent drop in new listings over the course of the past month, the largest such decrease nationwide during that span of time. 

In addition to high demand, other factors that are reportedly driving the low housing inventory in the Las Vegas valley include a forbearance program instituted by the Federal Housing Administration during the COVID-19 pandemic, which is allowing some homeowners to remain in their residences by means of reducing or outright pausing their mortgage payments. 

The number of homeowners currently taking advantage of this forbearance program potentially number in the thousands, reports say, with the period of time where mortgage payments don’t have to be made ranging anywhere from six to 18 months. 

And finally, homeowners who made purchases during the midst of the pandemic – when interest rates were historically low – are currently hesitant to put their homes on the market due to the low monthly payments they currently benefit from, especially with new interest rates at much higher levels. 

All of these factors have combined to create what experts say is a “perfect storm” in the Las Vegas housing industry, driving up demand – and subsequently, prices – of what homes are left available on the 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. 

New homes and street in Clark County, Las Vegas, NV

Prices of Las Vegas Homes Increase in July 2023; Condos and Townhomes Drop, However

LAS VEGAS, NV – The housing market in Las Vegas continued its upward trend in July 2023, with the median price of a pre-existing, single-family home increasing by over $9,000 month-over-month, showing a sustained degree of growth that unfortunately was not shared in the city’s condominium and townhome markets. 

A new report released by Las Vegas Realtors indicates that the median value of a home in Las Vegas for July was $450,000, in contrast to just one month prior in June when that number was $440,990. 

That price increase can be contributed to several factors that continue to persist despite the fact that interest rates for home mortgages remain historically high. These factors include the high degree of demand combined with a shrinking amount of housing inventory in Southern Nevada, which is serving to drive up the value of what homes are remaining available on the market. 

The all-time record for the median price of a home in Las Vegas was $482,000, which was achieved in May of 2022. 

While the prices of homes in Las Vegas continued to climb in July, the lower demand for condos and townhomes resulted in the median price dropping to $273,500, a $1,500 month-to-month difference from June when that number was $275,000. 

In their report, Las Vegas Realtors noted that 83.2 percent of homes and 85.6 percent of condos and townhomes sold within 60 days in July 2023; this represents a significant year-over-year decrease, as 95.2 percent of homes and 95.7 percent of condos and townhomes sold within 60 days in July 2022. 

Another decrease in July came in the form of cash buyers for real estate, as they made up one-quarter of all sales for the month; in contrast, that percentage was one-third during the same period of time one year ago. 

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.

4909 Vegas Hills Ct, Las Vegas, NV 89135

$15 Million Summerlin Home Purchase Tops Las Vegas’ Highest July Real Estate Sales

LAS VEGAS, NV – A sale of a home in Summerlin’s Summit Club community – dubbed the “Sky Summit” – topped Las Vegas residential real estate sales for the month of July, fetching a cool $15 million for its sellers. 

The Sky Summit was originally constructed in 2020 and is located on Vegas Hill Court; the residence comes in at 8,936 square feet in size – about twice the area of a basketball court – and boasts seven bedrooms, six full baths, two partial baths, a five-car garage, and is situated upon an 0.8 acre plot of land. 

The home features a French contemporary design and impressive views of mountains and a neighboring golf course. The kitchen has a granite island with bar seating, and the primary suite located on the first floor has two custom walk-in closets and a master bathroom that extends from the house and into the outdoors; it is surrounded by dense landscaping to maintain privacy. 

The second floor also features an additional living area with a kitchen and dining area, in addition to a private balcony and two bedrooms. 

This modern, open concept design truly embodies and captures the best of desert living,” the listing says. “With its floor-to-ceiling windows, pocket doors, private Zen courtyard, extensive shaded patios, pool deck and balcony, it truly is a resort unto itself. With smooth white stucco exterior and stone columns, the entrance ushers you into a grand foyer. A great room holds a seating area ringed by beautiful stone, and first and second-story windows allow gorgeous mountain views.” 

The home was purchased by Sweet World Delta LLC from homeowners Candace Carr Easdale and Jack Clarke. 

In addition, a MacDonald Highlands home in Henderson came in as the second-highest sale of July at $12.9 million, with third place going to a residence in Henderson’s Ascaya neighborhood that sold for $8.95 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.

501 Sam Jonas Dr, Las Vegas, NV 89145

Incredibly Unique Pirate-Themed Home Hits Las Vegas Market for $350k

LAS VEGAS, NV – An incredibly unique new home has hit the Las Vegas real estate market whose eye-catching pirate theme should nonetheless catch the attention of the desert city’s landlocked landlubbers, boasting an affordable price that ensures it will most likely not remain up for grabs for any great length of time. 

The home, located at 501 Sam Jonas Drive near Alta and Buffalo drives and currently listed for $349,999, features 4 bedrooms and three bathrooms spread out over 6,969 square feet. From the outside it’s a fairly normal, run-of-the-mill looking residence; however, once you walk through the front door, you’ll find yourself transported to a nautical paradise that Blackbeard the Pirate himself would be proud to call home. 

The living room has a coffee table with a built-in ceiling-high mast with a sale attached to it; rustic wood accents are everywhere you look; there is a pirate ship-styled DJ booth complete with a cardboard cutout of Johnny Depp’s Captain Jack Sparrow character from Disney’s “Pirates of the Caribbean” movies; there’s a decorative wooden plank bridge; atmospheric mood lighting; and numerous helms, skulls, plants, and 3-dimensional painted murals abound. 

Have you been tirelessly scouring the seven seas in search of a legendary treasure? Well, look no further, for your quest ends here,” the listing says. “Prepare to set sail on an extraordinary journey as every inch of this home is intricately customized to fit the captivating pirate theme.” 

Despite the steadfast reverence to the old days of high sea piracy, the home is not lacking in modern amenities as well, including a recently updated roof and air conditioning unit. 

If your creative soul is seeking a truly unique and unparalleled abode, set your course for a true treasure that awaits your claim,” the listing says. 

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.

22 ANTHEM POINTE COURT, HENDERSON

Henderson Mansion Listed for $4.8 Million, Comes with Free Ferrari, Estimated Worth $100,000+

LAS VEGAS, NV – What’s the point in buying yourself a swanky new mansion in a high-end Las Vegas neighborhood if you don’t have a fancy sports car to park in front of it? That’s the marketing approach that one seller is taking, offering a free Ferrari along with the $4.8 million Henderson mansion he’s selling if the buyer in question meets or exceeds the residence’s listed price. 

Realtor Jordan Betten said that offering the fancy Italian sports car as an added bonus is an experiment; if successful, it’s something that he plans on expanding upon with his future luxury real estate offerings. 

This is definitely a thinking-outside-of-the-box approach towards selling Las Vegas luxury homes,” he said. “If this marketing technique is successful, we plan on including a Lamborghini with our next luxury listing coming up in MacDonald Highlands for $7 million.” 

The estate up for grabs is located at 22 Anthem Pointe Court, comes in at an impressive 8,414 square-feet in size, and boasts seven bedrooms and eight bathrooms. It also features a number of lush amenities, including a movie theater, climate-controlled wine cellar, outdoor pergola, sports bar, steam room, and a secret hidden library. 

22 ANTHEM POINTE COURT, HENDERSON – $4,800,000.00

The seller of the house also owns the Ferrari that is being offered, which is a 2010 California model with low mileage that is estimated to be worth anywhere between $100,000 and $115,000. This is certainly an enticing bonus item, and the idea for its inclusion in the sale was inspired by a question from a prospective buyer during an early showing of the residence, according to Betten. 

They asked when they saw the owner’s Ferrari parked in the garage, ‘Does the car come with the house?’ My response was, ‘Give us a cash offer at list price or higher, and we will get you the Ferrari included.’” he said. “We decided that even though the luxury market has been competitive with low inventory for buyers, especially for modernized and remodeled homes, why not add some icing on the cake to make our listing stand out?” 

See full listing details for 22 Anthem Pointe Ct, Henderson

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.