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Fed Expected To Keep Rates At Record Lows |
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The Federal Reserve is expected to keep a key interest rate at a record low this week. |
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Nov. Home Prices Dip By Record Annual Rate |
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Home prices dropped by the steepest annual rate ever in November, a closly watched index shows. |
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State To Barber Shop: Get Liquor License |
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A Missouri barber shop offers free beer while you wait for a trim, but state liquor authorities aren't impressed. |
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Obama Pushes To Curb Greenhouse Gases |
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President Barack Obama says there will be no quick fix on either the economy or energy independence, but quick action is needed. |
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College Endowments Fell Last Fiscal Year |
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A new survey finds college endowments fell 3 percent last fiscal year. |
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Look For Signs Your Job's In Trouble |
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There's often warning signs that a company is in trouble and that it's about to trickle down to employees. Here are some things to look for if you're worried about job security. |
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GM Joins Tide Of Massive Layoffs |
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General Motors joins several other companies that are planning to reduce their staffs. |
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Hawaii Homeless Proposal: Aloha, Goodbye |
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A Hawaii lawmaker says she has a solution to homeless problem: Buy them plane tickets. |
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Zsa Zsa Gabor Could Be Madoff Scheme Victim |
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A lawyer for Zsa Zsa Gabor says the 91-year-old actress might have lost up to $10 million she invested with accused swindler Bernard Madoff. |
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Drugmaker Pfizer To Buy Wyeth, Cut Jobs |
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Pharmaceutical giant Pfizer Inc. is buying rival Wyeth in a $68 billion cash-and-stock deal. |
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Stimulus Money To Schools Hard To Cut Later |
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If the government spends billions on education to help jump-start the staggering economy, what happens when things improve and schools have grown used to the money? |
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Here are the most recent average daily visitor counts from VegasMadeEasy.com as of January 20, 2009. A percent change was added to show how much traffic has fallen. The average daily visitor count is a more accurate way of looking at Vegas visitors since months have different days. | | 2006 | | 2007 | | 2008 | | | January | 102,436 | 4.2% | 101,820 | -0.6% | 101,236 | -0.6% | | February | 106,336 | 0.9% | 107,709 | 1.3% | 107,172 | -0.5% | | March | 109,949 | 0.3% | 111,508 | 1.4% | 110,444 | -1.0% | | April | 110,058 | 0.3% | 110,482 | 0.4% | 108,842 | -1.5% | | May | 107,779 | -0.9% | 109,058 | 1.2% | 109,548 | 0.4% | | June | 105,241 | -2.0% | 109,411 | 4.0% | 105,982 | -3.1% | | July | 108,706 | -0.5% | 108,974 | 0.2% | 104,015 | -4.6% | | August | 107,774 | 2.7% | 108,193 | 0.4% | 103,587 | -4.3% | | September | 109,296 | 3.3% | 108,938 | -0.3% | 97,883 | -10.1% | | October | 109,193 | 2.5% | 109,179 | 0.0% | 98,041 | -10.2% | | November | 104,146 | 0.9% | 104,317 | 0.2% | 94,054 | -9.8% | | December | 98,526 | -0.6% | 99,220 | 0.7% | | | | TOTAL | 106,616.10 | 0.9% | 107,388.00 | 0.7% | | | | | | | | | | | If you remember, 9/11 caused 5 straight months of negative year to year visitor counts. So far we are at 6 straight months of falling visitor numbers. There were some really strong promotions from the big strip hotels in November 2008 which helped a little. Here is a quick snapshot of the average tourist according to LVCVA.com numbers for 2007. They usually report numbers with about a 2 1/2 months lag. | Avg. Party | 2.5 | | Food/Drink | $254.49 | 52.2% | | Avg. Nights | 3.5 | | Shopping | $114.50 | 23.5% | | Avg. Age | 49.0 | | Transport | $62.66 | 12.8% | | % Stayed Hotel | 95% | | Shows | $47.87 | 9.8% | | % Gambled | 84% | | Sightseeing | $8.31 | 1.7% | | Budget, if Gambling | $555.64 | | Total | $487.83 | 100.0% | The average budget set aside for gambling has been dropping since 2006 and 2008 looks like a really bad year. For 2008 as of November, Downtown is down -7.3%, the strip is -9.3% and all of Clark County is off -9.0%. The strip is still the most important area at almost 63% of all gaming. The decline has been getting worse so you are seeing an average of the better months plus the most recent. November was off 15.2% versus last year’s November for example. | November Year to Date | $ Thousands | % Total | % Change | | Downtown | $541,130 | 6.0% | -7.3% | | Strip | $5,646,425 | 62.6% | -9.3% | | Rest of Clark County | $2,837,639 | 31.4% | -8.7% | | Clark County | $9,025,194 | 100.0% | -9.0% | The LVCVA’s numbers for year to date as of November show the average daily room rate to have dropped 9.5% to $121.01 from $133.76. Hotel and Motel occupancy rates are 87.1% and 91.0% which are both down 3.9 and 3.6% from the last 12 months ending November. |
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Finding Financial Aid For College A Struggle |
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Students trying to get financial aid for college could face a tough test in 2009, as loans and grants are expected to be scarce. |
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Economy Forces NY Club To Change Dress Code |
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New York's 21 Club is easing up on its dress code in an attempt to gain more business in the struggling economy. |
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Pelosi Defends Dems' Stimulus Plan |
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House Speaker Nancy Pelosi is defending the Democratic plan to revive the economy, saying Republican proposals will be judged by how well they create jobs. |
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A tax system by default, not by plan |
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When Nevada legalized gaming in 1931, it was almost an afterthought. The modest levies on card games and slots would be the garnish. The main course through tough economic times, state leaders believed, would be looser divorce laws adopted during the same legislative session to lure unhappy spouses to spend time — and money — in Nevada. |
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Obama, Boehner At Odds Over Economy |
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Congressional Republicans are at odds with President Barack Obama and congressional Democrats over plans to stimulate the economy. |
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Highway Workers Find $100,000 In Tire |
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Three state highway workers cleaning up litter picked up an abandoned tire -- and found about $100,000 inside. |
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Wal-Mart Worker Accused Of Rollbacks |
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A Wal-Mart employee in Mississippi is accused of rolling back prices -- way back -- on about $550 worth of merchandise. |
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Governors Seek Concessions From Public Workers |
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Public employee unions across the country are under growing pressure from state governors to make major concessions to help balance teetering budgets. |
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IRS invites tip earners to resolve reporting issues |
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The IRS is coming to Las Vegas — in peace, without auditors. Its mission: Resolve tax problems for casino workers. |
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No Sale? No Problem For Prized Goods |
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Even as stores offer massive markdowns, shoppers are still lining up to pay top dollar for coveted goods. |
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Weak Economy Hits Courts, Programs For Poor |
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Public defenders and legal aid programs are facing their deepest budget cuts in years just as the recession creates more demand for their services. |
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Southwest Deal Triggers Industry Discounts |
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Major airlines move to match a fare sale started by Southwest Airlines. |
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Ga. Plant In Salmonella Probe Lays Off Workers |
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A Georgia peanut butter plant at the center of a probe of a nationwide salmonella outbreak has laid off most of its approximately 50 workers. |
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Las Vegas resorts, restaurants earn Five-Star awards |
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Mobil Travel Guide on Thursday announced the winners of its Four- and Five-Star awards -- among the most prestigious awards in the hotel industry. |
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Gaming commission OKs licensing for M Resort |
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The Nevada Gaming Commission today unanimously approved licensing of Southern Nevada's newest casino, the 390-room M Resort. The property, at Las Vegas Boulevard South and St. Rose Parkway, is expected to open March 1. |
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IGT reports drop in profits |
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International Gaming Technology reported a 42.3 percent drop in profits for the first quarter due to a decline in product sales, increased costs to fund jackpots and unfavorable economic conditions. |
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M Resort to include nine restaurants |
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M Resort, Spa and Casino announced today it will include nine restaurants and five beverage offerings when it opens later this year. |
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Slovenians beat cultural barrier to state license |
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Three years into the arduous process of obtaining a Nevada gaming license, Slovenian business partners Tomaz Zvipelj and Joze “Joc” Pececnik stumbled before the Nevada Gaming Control Board. At a hearing in November 2006, the board declined to license the partners’ gambling machine company and criticized them for sloppy record-keeping and obstructing the investigation process. |
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Fontainebleau has the cash to keep rising |
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At a time when some companies are strapped for cash, Fontainebleau Resorts is expected to have enough money to open the $2.9 billion Fontainebleau Las Vegas, as planned, in October. |
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Beneath its skin, Fontainebleau has something extra for guests’ gadgets |
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While some resort operators sweat over plans for the next hot nightclub, celebrity chef restaurant or pool lounge, tech geeks at the under-construction Fontainebleau Las Vegas are abuzz over their kind of eye candy. |
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Las Vegas Sands: A big rise, a big fall |
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Las Vegas Sands was once the envy of Wall Street. In fall 2007, with seemingly unlimited growth prospects in Macau, the most lucrative gambling market in the world, the company’s share price topped out at nearly $150. But then came the fall, a drop so fast and long that even in this era of suicidal reversals on Wall Street, Sands stands out. The company’s market value plummeted more than 90 percent. |
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Annual report shows dramatic fall of casino profits |
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The state Gaming Control Board released its annual “Nevada Gaming Abstract” Friday, showing that the 266 casinos statewide that grossed $1 million or more in gaming revenue ended up with a 68.6 percent decline in net income. |
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Big plans for Barcelona Hotel |
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The purchase of the Barcelona Hotel on Craig Road near Nellis Air Force Base by the Siegel Group Nevada is the latest expansion of that brand in Southern Nevada. The property is the second hotel for Siegel Group Nevada. The company purchased the Gold Spike in downtown Las Vegas for $21 million in February, just six months after the previous owner had paid $15.6 million for it. |
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Research firm expects further declines in gaming market |
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IBIS World, a market research analysis firm, has forecasted an 8.4 percent decline in nationwide hotel-casino revenue by December 2009 as unemployment figures continue to rise. |
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Study finds high pollution levels in casino restaurants |
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More than two years after the Nevada Legislature passed the Indoor Clean Air Act, a UNLV and University of Kentucky study has found unsafe levels of air pollution due to secondhand smoke in Las Vegas Valley casino restaurants. |
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Planet Hollywood names new president |
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Planet Hollywood Resort & Casino today named Thomas J. McCartney as president and chief executive officer, replacing Michael V. Mecca, who has resigned from the company. |
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Plan would give Tropicana creditors ownership stake |
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Tropicana Entertainment has filed a reorganization plan with the federal bankruptcy court in Delaware that would cancel the company’s long-term indebtedness and convert a portion of its debt into ownership stakes held by its creditors. |
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Boyd Gaming president named to Federal Reserve board |
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The Federal Reserve Bank of San Francisco’s board of directors on Monday appointed Las Vegas-based Boyd Gaming president Keith Smith to the board of directors of its Los Angeles branch. |
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Caesars Palace delays opening of tower |
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Following moves by other companies to delay or cancel building projects amid the floundering economy, Harrah's Entertainment is delaying the opening of its Octavius Tower expansion at Caesars Palace until demand for hotel rooms improves, the company said today. |
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The Harmon isn’t Strip’s only troubled condo |
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The discovery of structural problems at CityCenter’s The Harmon, which led developers last week to scale down the hotel and scrap plans for about 200 condominium units, might be viewed as an unfortunate incident that turned into a lucky break for partner MGM Mirage. |
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Small casinos feel pinch of recession |
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For 10 years, Nonie Galloway helped pay the bills as a hostess-cashier at the Silver Club in Sparks. |
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New Home Sales Hold Steady - Review Journal |
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New Home Sales Hold Steady - Review Journal
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Some Standing Inventory Appearing |
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Around the Las Vegas Valley, developers have been pulling less permits and slowing construction. Some builders to the point they will only start production on a home until it is in contract.
Due to the ability to secure a loan and other financial factors some homes have fallen out creating small pockets of standing inventory. Standing inventory equals opportunity. You may receive extra upgrades that were spec'ed out in the home or other rebates.
Give us a buzz so we can determine what type of product you are interested in and if standing inventory is available. Builders email us daily on what they have ready to go to contract. We have done the research so you take advantage. |
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End of Year Sales Builders Slash Prices |
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Local Builders are slashing their prices and offering huge incentives for sales that close by Dec 31st 2007.
It's a buyers market so if you've been waiting to purchase, now's the time. The incentives vary depending on the price of the home and builder but one thing is clear, prices on standing inventory are being drastically cut and tens of thousands of dollars in incentives are being offered to buyers including reduced pricing, paying for closing costs and free upgrades. Ask me how to get even more!!
If you are renting and in a lease, don't worry, we have options and can neogiate for you.
Now is the time to buy if you've been waiting for prices to come down. Don't spend another year paying someone elses mortgage. Your dream home is available and timing is everything.
There is no cost to you to work with a REALTOR® to assist you with buying a new home with the best incentives and lowest price.
CALL TODAY to take advantage of the current Buyers Market in Las Vegas.
Olivia McClellan, ABR, GRI, RRG
Broker, REALTOR®
Triple8 Associates Inc
5940 S. Rainbow Blvd., Suite 1007
Las Vegas, NV 89118
Direct: 702-372-2671 |
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End of Year Blowouts - New Homes |
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As many of you know it is a buyers market and there are some great deals from local builders. End of year specials are plenty with many developers trying to clear the books of any available inventory. This means great buyers incentives.
There are condos, townhouses and single family homes available all around the Las Vegas Valley with huge incentives including closing costs, upgrades and more.
If you have specific requirements on location, price range and type of home, give us a call. There is no cost to you to have a professional REALTOR represent you in purchasing a new home. We feel it is imperative that you representation so you may benefit from our years of experience in negiotating the most incentives possible. Do not leave any money on the table.
Give us a call so we can assist you in finding the best deals on your next new home. |
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Model Home Leasebacks 12% Cap Rate |
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For more information on these model leasebacks visit our website at http://www.vegasnewhomedeals.com/ where there is a current list of opportunities ranging from the $400k up over a million.
The builders are paying 1% of the purchase price for 18 months with options to extend.
Send us an email with questions.
Olivia
Triple8 Associates Inc |
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12% Cap Rate on New Home Leasebacks |
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If you are looking for a great investment in a down market, we have got five models left that are for sale with the builder leasing them back at 1% of the purchase price.
These means with 10% down you are cash positive. If you have other investments that don't pencil this is a great way to off set the monthly loss.
These models are going for the high 300's and the lease back time frames start at 12 months and go to 18 months with an option to extend.
Call me today to take advantage of this opportunity. The first six did not last long.
Olivia McClellan
Liberty Realty
702-372-2671 |
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Model Home Leaseback Provides Income |
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There are new homes for sale that the builder will lease back at 1% of the purchase price allowing a positive cash flow with guaranteed 18 months*.
The prices range from the high 300's and the models are packed with upgrades as well as furniture.
Call me for details
Olivia
*Leaseback timeframe varies depending on model |
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New Homes with Lease Back |
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Are you looking to invest in Las Vegas?
Now is the time to take advantage of 12% cap rates on investment homes from builders.
They are guaranteeing 18 month leases at 1% of the sales price. The homes are located in great areas of Las Vegas.
Call today to find out more.
Oliva
702-372-2671 |
There are a few deals left in the new home market.
Standing inventory has dwindled to almost zero on the popular tracts in the north and south.
There are still many builders with great incentive packages that will benefit buyers.
Please call me to discuss your timelines and real estate goals.
Thanks
Olivia
702-372-2671 |
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New Home Incentives Disappearing |
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1/9/07
The current inventory on the Las Vegas MLS was at an all time high reaching 23,000 properties at the end of 2006. As of today, that number has decreased to 17,000 properties on the MLS which should help Sellers get their properties sold faster that 60 or 90 days.
Also, new home developers have slowed building and have less and less standing inventory so the incredible incentives and free upgrades will soon disappear.
If you are in the market for a new home the time is now with rates down and some builders still offering great deals.
Call me ASAP.
Olivia McClellan, ABR, GRI, RRG
Broker/Salesperson, REALTOR®
Liberty Realty
7674 W Lake Mead Blvd, Ste 150
Las Vegas, NV 89128
Direct: 702-372-2671
Fax: 702-543-4845
Visit www.oliviasellsvegas.com or www.vegasnewhomedeals.com for more info. |
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New Home Blowout in Las Vegas |
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The market is changing in Vegas once again.
Developers are providing HUGE incentives to buyers from paying closing costs, a year of HOA fees, a year of mortgage payments and much more.
One of clients received 75,000 in incentives including tons of upgrades, new pavers, buying down his rate and when they ran out of things to buy they paid off credit cards....
Wow is right.
Call me for immediate info, these deals are not published and are usually pocketed and broked by the Developer's Agents who work with Local REALTORS who bring them buyers. I get calls and faxes daily alerting my clients of such deals.
Call me ASAP.
Olivia
Olivia McClellan, ABR, GRI, RRG
Broker/Salesperson, REALTOR®
Liberty Realty
7674 W. Lake Mead Blvd., Ste 150
Las Vegas, NV 89128
Direct: 702-372-2671
Fax: 702-543-4845
email:
This e-mail address is being protected from spambots. You need JavaScript enabled to view it
Website: www.oliviasellsvegas.com |
Our Current Listings:
Below are current listings from REALTORS in Las Vegas, Nevada.
Las Vegas Homes:
599088 - 5620 Benevento Ct, Las Vegas NV 89130
603834 - 5575 Villa Lucia, Las Vegas, NV 89134
593407 - 8301 Boseck Drive, Las Vegas NV, 89145
621049 - 5042 Ridge Drive, Las Vegas, NV 89103
617726 - 8921 Rio Verde Ave, Las Vegas, NV 89147
631537 - 8713 Glistening Pond St., Las Vegas NV 89131
Las Vegas Condos:
599089 - 8600 West Charleston Ave, Las Vegas, NV 89117
587101 - 10233 King Henry, Las Vegas, NV 89144
614617 - 10550 West Alexander Rd. , Las Vegas, NV 89129
Olivia McClellan, ABR, GRI, RRG
Broker/Salesperson, REALTOR®
Liberty Realty
7674 W. Lake Mead Blvd., Ste 150
Las Vegas, NV 89128
Direct: 702-372-2671
Fax: 702-543-4845
email:
This e-mail address is being protected from spambots. You need JavaScript enabled to view it
Website: www.oliviasellsvegas.com
The data related to Real Estate for sale on this website comes in part from the INTERNET DATA EXCHANGE (IDX) program of the Greater Las Vegas Association or REALTORS® MLS. Real Estate listings held by Brokerage firms other than this site owner are marked with the IDX logo.GLVAR deems this information reliable but not guaranteed. Copyright © 2006 of the Greater Las Vegas Association of REALTORS® MLS. All rights Reserved. |
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New Home and Condos Deals in Las Vegas |
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Developers continue to add incentives to entice buyers to stop by with their REALTOR to check out what they have to offer.
Here are some of the incentives offered:
1. No money down using their in-house lender *subject to qualification
2. No HOA payments for one year
3. No mortgage payments for one year *needs explaination
4. Cash for Closing Costs
5. Incredible upgrade packages
6. Money to buy down your loan rate
Some developers are combining these offers and others offer one or two but each is different so matching your needs to picking our the correct incentives is critical.
One of my clients closed escrow last week on a very nice property. He had choice of reducing the price of the home by $10k or using the $10 to buy down his rate. We ran the numbers and buying down his rate was the way to go.
If he used the $10k to reduce his purchase price he would save roughly $70 on his mortgage payment.
By using the $10k to buy down his interest rate from 7% to 5.5% he saved $500 a month on his mortgage payment which ended up as a whopping $30k in savings in a 5 year period.
Knowledge is Power, use a REALTOR
Questions? Please call me to discuss how I can assist you with all of your Real Estate needs.
Olivia McClellan, ABR, GRI, RRG
Broker/Salesperson, REALTOR®
Liberty Realty
7674 W. Lake Mead Blvd., Ste 150
Las Vegas, NV 89128
Direct: 702-372-2671
Fax: 702-543-4845
email:
This e-mail address is being protected from spambots. You need JavaScript enabled to view it
Website: www.oliviasellsvegas.com |
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