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Category Archives: Second Homes

New Senior Housing Communities

For the first time in many years, builders are constructing new age restricted communities in the Las Vegas Valley.  Three new communities are currently under construction. In North Las Vegas, Shea Homes is building 1218 to 2444 square foot houses in Ardiente.  Prices start at $198,000. A new Summerlin age restricted community is being built […]

Who’s Moving to Las Vegas?

The Review Journal did a special article on January 6, 2015 about who is moving to Las Vegas.  Citing a study by United Van Lines, Nevada is the sixth most popular state for people who are relocating.  The data from the study shows that 57 percent of moves are into Nevada, which 43 percent of […]

Las Vegas a "good bet" for vacation homes

The Robb Report, in its October/November issue, has listed Las Vegas as one of five areas which are a “good bet” for purchasing vacation homes in the United States. The other four were Miami, Aspen, Maui and Coeur d’Alene. The results of this research pointed to three distinct sectors within the global real estate market: […]

Vacation Homes and 1031 Exchanges

The IRS recently issued a new ruling for taxpayers who wish to do a 1031 exchange involving a vacation home. Bear in mind that you can only exchange property for the purpose of deferring tax liability if the property is held for investment or used in business. You must, therefore, be able to show that […]

Cosmopolitan Resort & Casino

From the Wall Street Journal: The News: Ian Bruce Eichner, who is developing a Las Vegas casino resort, defaulted on a $760 million loan after he failed to get refinancing. The Trend: Owners and developers of some of the country’s choicest properties are having trouble refinancing shorter-term loans they received during the boom days. What […]

CityCenter Residential Sales Statistics

About 50 percent of CityCenter’s 2,547 high-end residential offerings have been purchased since being made available last year. Broken down by building, the Mandarin Oriental, with 227 residences is 93% sold; Vdara Condo Hotel with 1,543 residences is 42% sold; Veer Towers with 207 residences is 60% sold; Harmon Hotel with 207 residences is 35% […]

Second Home Buyers

Vacation home sales are showing real strength. Vacation home sales rose in 2006 to a record 1.07 million sales. Las Vegas, along with Florida and Arizona is a traditional vacation home market. Who buys second homes? A typical second home buyer is 44 years old, has a household income of $102,200 and has primary residence […]