Lake Las Vegas Real Estate
Developers of world class Las Vegas Master Planned communities are also facing many challenges in the current market including Transcontinental Corp. which failed to meet it’s sales volume quota. My Quote of the Week comes from this article in InBusiness Las Vegas:
Dennis Smith, the president of HomeBuilders Research, which monitors the housing market, said land at Lake Las Vegas will sell but it has to be priced right.
Um… all Las Vegas real estate will sell if it is priced right. The question is, what is the right price?
Obviously Las Vegas home builders such as Pardee Homes, Toll Brothers, Innovative Resort Communities, Woodside Homes, Amland Development and Centex Homes that have options to purchase land at Lake Las Vegas are not going to go through in purchasing blocks of land for development unless there is a market for it and there currently is no shortage of Lake Las Vegas real estate or even Las Vegas real estate for that matter.
Overall, it’s very hard to argue that there is a Master Planned Community in Las Vegas or even the Southwest United States for that matter as beautiful as the meticulous planning and thought that has gone into Lake Las Vegas. But, even Celine Dion recognized that it’s a little far from the exciting action of the Las Vegas strip when she wanted to put in a helicopter pad at her Lake Las Vegas home to fly into Caesars Palace for her show.
Las Vegas Real Estate prices are certainly going to sort itself out and well planned Las Vegas Luxury communities such as Lake Las Vegas are certainly not going to dry up and go away. There is just too much inventory on the market right now but as more and more builders back off of building, beautiful real estate will sell “if it’s priced right”.
Paul Francis, ABR,CRS
Coldwell Banker Premier
10120 S. Eastern Ave
Henderson, NV 89052
702.592.3058
August 28, 2008 at 4:23 am
Hubble Smith of the Review-Journal will tell you how many times I have written to him to marvel that anyone would bother speaking with Dennis Smith when it comes to his gnerealized and jejune analyses of the Las Vegas real estate market. I see you hit on another one here. How about his statement that the downturn in the LV real estate market will be U-shaped instead of V-shaped, whatever that means. I mean, the Great Depression was U-shaped … isn’t it the length of the bottom of the U which interest us, not its contrast with a point spread as in V. Until Las Vegas begins to quantify in a manner befitting a field of expertize — Finance — that has seen ten Nobel prize winners, I am afraid we shall suffer having to read these insipid comments. That his advice is so sought out is remarkable.
January 20, 2010 at 8:32 pm
[...] Because… it’s all about the price when it comes to dynamic cities such as Las Vegas. Just like I Said way back in November of 2007 when it came to New Home Development in Lake Las Vegas. [...]