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New High-speed train from Victorville, Calf. to Las Vegas soon to be reality! February 21st, 2007 The most unlikely proponents for a train from Southern California to Las Vegas have stepped up to the plate. The majority of California’s politicians not want a train route that could drain their residents off to Las Vegas with lower taxes and cheaper housing. But the City of Victorville sees it differently. They see opportunity to construct ...

Experts preview Las Vegas' 2007 prospects (click here) 01/19/2007-"That $30 billion in investment on the Strip, more than (during) any period in our history, transfers into broader economic prosperity outside the gaming market as well," Aguero said. "Generally speaking, for every one hotel room, at least historically, we've created seven jobs within Southern Nevada."

Quick rebound for Las Vegas housing (click here) 01/08/2007-Southern Nevada's slumping residential real estate market will start recovering by year's end even as other markets nationwide continue to struggle, a local economist predicts.

Apartment market sees rents rise 11/27/2006-Weakening home sales, and population and employment growth are fueling higher rental prices for apartments in the Las Vegas Valley, according to a new report from Marcus & Millichap Real Estate Investment Brokerage. Vacancy rates remain at a low 4 percent valley-wide, prompting owners to raise rents and limit concessions.

Interesting Factors Coming Into Play In Las Vegas 12/17/2006-for the person looking to buy a primary residence, this is a good time to be looking. If you are an investor, the next few months could be a golden opportunity to get in before we once again see a rising market in Las Vegas. Investors, keep in mind that rents nationally are on the rise and look to continue for the foreseeable future ...

Casino takeover targets (click here) 12/31/2006- So condominium, retail and possibly time-share developments will come first, with Imperial Palace remaining open for at least a couple of more years - and producing a mind-boggling $100 million in annual cash flow...

Retail market expands in fourth quarter (click here) -BY TONY ILLIA 12/31/2006 The Las Vegas Valley's retail market added 61 shopping centers totaling 2.18 million square feet of new space in 2006, reports Marcus & Millichap. That number is expected to grow soon.

Report: Real estate to stay strong in '07 (click here) 12/25/2006 -The booming city of Las Vegas ranked No. 1 in the office, retail and multifamily categories with Miami taking the lead in the industrial sector.

THE YEAR IN BUSINESS (click here) 12/25/2006 -In the world of Southern Nevada business, 2006 will be remembered as a year that real estate cooled, and multibillion-dollar projects began heating up.

Decline of housing market was surprise story of '06 12/22/2006 -The downturn was prompted by an excess supply prompted by the irrational exuberance of investors and the public. That spurred massive amounts of national television coverage that exacerbated the problem because consumers were worried about buying a home, fearing its price would decline.

Las Vegas Rolling High (click here) 11/20/2006 -In late October, Restrepo Consulting L.L.C. and McDonald Carano Group released their Commercial Market Confidence Survey, which surveyed 1,500 brokers, developers, construction companies, investors, land owners and lenders, on their outlook for the Las Vegas commercial real estate industry.

Las Vegas Strip Development re-cap (click here) 10/16/2006 -A collection of hotel-casinos, residential high-rise and mixed-use developments have been proposed along the Strip, from the boulevard's far southern reaches to 16 miles north just south of Sahara Avenue. Just what ultimately gets built, however, remains to be seen.

Builders plot strategies(click here) 10/05/2006 -What does the future hold for new housing development in the Las Vegas Valley?
A San Diego real estate advisory group said it believes it has some answers.
While major homebuilders relinquish options and pull out of escrow on properties because of a soft new housing market, builders are already plotting strategies for where the market is heading next, according to Sullivan Real Estate Advisors, which recently gave a presentation at the Four Seasons to members of the housing and real estate industry.

Tight apartment market market fuels higher rents (click here) 08/08/2006 -Southern Nevada's apartment market posted a 96 percent occupancy rate in the second quarter, a 1 percent improvement over last year, despite a record number of condominium conversions, teardowns and 7,000 new residents a month, reported Applied Analysis, a Las Vegas-based business advisory firm. Average asking rents, as a result, reached $848 per unit per month in the second quarter, a 5.3 percent increase from a year ago.

Bidding slow at BLM auction of southern Nevada land (click here) 08/02/2006 -The Bureau of Land Management sold 27 acres of federal land in southern Nevada on Wednesday at one of the slowest and least lucrative auctions held recently by the agency.

Sept. 24th, 2006 - Las Vegas has been in a buyers market and is scheduled to pull out and back into a sellers market in 2007. Construction, according to pipeline analytics, has halted under 10% in the Las Vegas Valley. That is not much slowing considering the number of condominium projects currently under construction.

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Prudential Americana Group, Realtors®
Max Schmidt P.C. dba Max Schmidt
Broker/Salesman
871 Coronado Center Dr., suite 100
Henderson, Nevada 89052
(702) 334-2200