Casino communities are the latest developments that are catching up in Las Vegas. In the future the Strip will have casinos that will have hotel, condos, timeshare and retail component.

High land cost on the Strip has prevented people from purchasing any property there. The continuous demand for residential buildings in the Strip has made even the top casinos to change to self-contained communities. MGM Mirage’s City Center is a planned casino community; it will have hotel, condos, and timeshare. The first phase is planned on 18 million square feet. Another such casino community is the Hard Rock with its condos and $3 billion project

Las Ramblas that will include spa, health club, restaurants, shopping and casinos. There are projects worth $50 billion that are being planned or are under construction stage along the strip on both sides of Interstate 15. In the coming five years projects worth $15 billion will be constructed and most will be Casino Communities.

Major cities in U.S have seen tremendous growth and developments in the past few years. The new developments and projects were consequently pushed away from the center to the edge of the city, in the last few years.

But now once again the developments are taking place in the heart of the city and they are growing vertically. The credit of Las Vegas downtowns trend to growing vertically towards high-rise buildings goes to Sam Cherry. Many residential buildings have been proposed and approved for the downtown Las Vegas, but Cherry’s Soho Lofts is the only project that is making its mark in the skyline of Las Vegas and it can be occupied by the owners by January.

Construction at Cherry’s other project, the Newport Loft has also begun while his third high-rise project, Stanhi is going for approval to the city council. Developers had doubt whether such high-rise project with their high prices will be a success among people. The Soho condominium had units from $379,000 to $2.7 million. Cherry has proved that downtown had a market for expensive condos.

Vita Bella a development of Toll Bros. has started offering town homes for pleasure and recreation seeking segment of home buyers. The resort-style homes are located with Lake Las Vegas Resort and will feature 79-homes with elevated front porches, courtyards and two-car garages.

The upscale community of Lake Las Vegas Resort is ideal launch pad for the resort-style homes of Toll Bros. The homes are priced at $600,000 and above. The Resort has some of the best amenities and recreational features in Nevada.

Vita Bella is located amidst beautiful mountains and grasslands and situated close to the private Lake Las Vegas. Plenty of water sports are available at the Lake. Golf, biking, walking, swimming, fishing and boating and the best of facilities make living in this luxurious resort style community a pleasure worth the price.

Investing in housing and real estate is making loads of profits for the people in Las Vegas so they don’t mind standing in line to buy houses once a project hits ground.

Flipping of property has also grown in the recent times. Extremely cheap mortgage rate has been a factor for increase in home sales. The investment in homes has bought great fortunes to many U.S citizens with 10% increase every year.

To meet the demand many new projects are announced each year. The upcoming Juhl project will transform the entire look of the downtown Las Vegas. The Bonneville Avenue, Graces Avenue, Third Street and the Fourth Street bound this 2.4-acre land. The development will have six towers of concrete, glass and chrome. The project will have 9000 square feet of retail space and 341 residential lofts.

The construction is expected to begin in 2006 and the first phase 220 units will be completed in 2008. Each unit will range from 600 to 2,200 square feet and the prices will be in the range of $200,000 to $500,000.

In spite of many predictions that the housing boom is over, the real estate agents in Las Vegas feel that now there are more houses for sale than ever before. At present there are more than 16,000 homes for sale that is 6,000 more than the year before.

Though there are many houses for sale but due to high prices these are not affordable by many. The average price of the single-family home is $310,000. Some feel that the increase in number of houses for sale is due to the stagnation created because of high price.

The soaring price is unaffordable to the investors and buyers. So the homebuyers are turning towards the condos, as they are more affordable. The growth of condo sales has increased by 40% compared to last year. Unless the prices of the homes are reduced the swing towards condos will not reduce.

According to a survey, the tourist coming to Las Vegas prefer staying in condos, suites or private residences compared to the hotels as both cost the same but the former has more amenities of the home.

75% of the respondents were staying in hotels but preferred staying in vacation rentals during their future trips as it offers more value for their money, provides more space than the traditional hotel rooms and are comfortable for socializing.

The survey shows a great interest of travelers in this field, which is making the vacation rentals a fastest growing sector in the travel industry. There is a lot of unexploited potential for growth in this segment. The vacation rental provides the travelers with more space, amenities, privacy and comfort while on vacation, which is absent in the hotels.

The vacation rentals have multiple bedroom, bathroom, private pool, fully stocked kitchen, outdoor grills, washer, dryers and other amenities. The market in Las Vegas is seeing major hotels being converted into suites and condominium space to keep up with the market trend.

Located near the Stephanie and Wigwam Parkways in Henderson the 17th and Vine is just minutes away from the McCarran international airport. The mixed-use development will feature a collection of 10 four story buildings. Five of these buildings will have retail space on bottom 3 floors with condos on the top. Four buildings will be exclusively reserved for residential condos and one will be clubhouse for residents to gather and unwind.

World class shopping - the Galleria Mall is just minutes away, golfing, dining and freeway access are all very close to this mixed-use development. Condos come in sizes varying from 976 square feet for a one bedroom up to 2,461 square feet for three bedrooms, three bath loft unit. Around 466 condos will be available for sale when the development is fully constructed. Prices will vary from $270,000’s to the low $700,000’s.

17th and vine, the low-rise condo in Henderson also offers residents unique flooring options and cabinet upgrades. Private balconies, private gated underground parking, high-speed internet connectivity and several upgrade packages customized for individual needs are also available.

The Tuscany Residential Village offers delightful views as it is located at an elevation location. When buyers get out of their cars and turn around they are surprised by the wonderful views that greet them from all sides.

The Tuscany Village promises a resort-style lifestyle for its residents with a 30,000 square-foot recreation center forming the center piece of the community. With club membership you are allowed access to tennis, basketball and fitness center.

The Tuscany Village will have seven neighborhoods surrounding the Golf Club access to which will be preferential for the Tuscany residents. Built by Rhodes Homes Tuscany is wonderful way to enjoy the great outdoors with the walking trails and much more planned.

The Tuscany Residential Village is located in Henderson.

Is the real estate bubble ready to burst? The question is again doing the rounds in Las Vegas
and this time around it’s not just the analysts but even the lay man who is talking
about it.

This time around it not whether it will burst but when it will burst. Over the last 5 years housing prices in Las Vegas have been booming and reaching record levels in growth. Investors and speculators have turned to real estate to make quick returns on their investment.

Banks and lending agencies having lending money at very easy rates which means there’s more money in the market and fear that if people don’t a home today they would never be able to afford one is driving even otherwise sane people to buy homes at high rates.

When the market takes a downturn which it eventually will as the current rates of growth are quite unsustainable the short-term profit makers will be to first to get out of the market creating an excess inventory as buyers will then wait to see how low the prices will go before the market stabilizes creating more uncertainty and triggering a crash.

First time home buyers find the Condos offered by Pulte Homes
at Sky Pointe an exciting opportunity to own a quality home at an affordable price. The prices for these residences start at $170,000 dollars.

Sky Pointe’s location is great point in its favor. While the range of options available like four floor plans with areas ranging from 856 to 1,525 square feet, gated community, with amenities like pool, volleyball and basketball courts and playgrounds are added points in its favor. Homebuyers can choose options that suit their needs.

Built to the Environment for Living technology standards these homes will be 15 percent more energy efficient than the Energy Star certified homes. The energy saving features include dual-pane, vinyl-framed, low-e windows that allow homeowners to benefit from decreased internal and external contaminants; decreased health problems due to increased indoor air quality; decreased heating and cooling usage; and increased comfort, durability and tightness and blown-in cellulose insulation.