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Archive for the ‘Second Homes’ Category:

Is There A Real Estate Tax Included In The Health Care Bill?

By Lisa Lundt on September 14th, 2010

Someone emailed me recently asking if it was true that there is a real estate sales tax due to go into effect in 2013 on all real estate transactions. The answer is yes, sort of. There is a tax on real estate in the health care bill passed this past summer. It is a tax that ... [Continue Reading]

Las Vegas a "good bet" for vacation homes

By Lisa Lundt on November 14th, 2008

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: ... [Continue Reading]

Vacation Homes and 1031 Exchanges

By Lisa Lundt on March 26th, 2008

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 ... [Continue Reading]

Cosmopolitan Resort & Casino

By Lisa Lundt on January 17th, 2008

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 ... [Continue Reading]

CityCenter Residential Sales Statistics

By Lisa Lundt on January 16th, 2008

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% ... [Continue Reading]

How Much Have Real Estate Investors Lost?

By Lisa Lundt on December 7th, 2007

That’s a popular question right now. Lawrence Yun, the chief economist for the National Association of Realtors, reports that an investor who bought a property in Las Vegas five years ago would be ahead by $150,000 today. The gain would be $200,000 in Miami, and $54,000 on average for the U.S. as a whole. Those ... [Continue Reading]

Second Home Buyers

By Lisa Lundt on October 6th, 2007

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 ... [Continue Reading]