Las Vegas Real Estate Blog

I recently meet with a potential seller who wanted to put his house on the market. Not for the financial reason but mostly because of his next door neighbor who makes his life "living hell".

I made an appointment to see the house next day. When I arrived (around 8pm), and parked my car in his  driveway, I was instantly greeted - quite instantly - by a flash beam coming from the roof of his neighbor home... You know, like the police helicopter chasing... I instantly felt intimidated and put on notice.

Further more the light beam did not go off for the rest of the time spend on that property, and going around the back yard I spotted additional 2 cameras (installed on his roof) pointing to the pool area and barbecue area.

I asked my new client if he did anything to put an end to this harassment and he told me that they've been in an out of the court for some time... Every-time the court would make requests for his neighbor to take them all out or face serious consequences. But that would only calm down the situation for a while and he will start all over again...

I asked then about HOA... to make the story short! They proved to be inefficient and worthless. No-one can force you to buy a home in a HOA-- you decide to do that for yourself... Right? Therefore, it is your responsibility beforehand to understand the rules of the HOA so you can understand if they are compatible with your lifestyle and as long as the HOA has rules that will prevent from having to deal with neighbors as obnoxious as this is... So, it seems that in this case the HOA has little muscle to protect the neighborhood. 

Some people prefer communities ruled by HOA considering a plus in having the protection they should offer... Other people prefer the freedom that comes from going to a public golf course with no rules, even if it means dealing with the occasional loud obnoxious drunk on the course and sub-par course conditions. Different strokes for different folks.

Now returning to my new client I am left with a big dilemma:

• Should I take the listing under the circumstances and keep it under-wrap?
• Should I make an open disclosure upon listing?
• Should I just pass this listing all together?

Your thoughts?

ELITE REALTY
7448 W.Sahara Ave. #106 • Las Vegas, NV 89117
Office: (702) 856-6680 • Cell: (310) 529-5360

Website: http://www.lasvegas-buyandsell-realestate.com/ • Email: arina.lv@gmail.com

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I wish more people will be wiling to learn a little about other cultures ,sometimes when we tell people that Greek Orthodox Easter is next week I get the impression that they think we are weird ,I am from Romania which also celebrates Easter with the rest of Eastern Europe and Christians from middle east and Africa, the reason why the Greek Orthodox Easter always fall right after Passover is because Orthodox church uses the Julian calendar and the western world use the Gregorian calendar to set the Easter dates ......the Julian calendar was in use since 45BC,the Gregorian calendar was decreed by pope Gregory in February of 1582... One of the main differences between the Eastern Orthodox Easter, and the Western date concerning Easter is this, Eastern Orthodox, or Greek Orthodox Christians will never celebrate Easter before the Jewish Passover. Because the Orthodox, (and most Christians) believe that Jesus celebrated Easter BEFORE the Pascha (Easter.) An Orthodox Christian knows that Easter will always fall AFTER the Jewish Passover, not before. On a personal note I like to add here my own recollection about Easter in my childhood back in Europe... I was born in Bucharest in a house right across from Orthodox Church - Patriarchal Cathedral - one of the most beautiful architectural, historic monument of Romania. The Cathedral situated on the top of a hill surrounded by beautiful garden with pathways, benches and old trees. I still remember first days of spring when the fresh air, flower aroma and birds chirps were bursting through my open window... Easter was always assimilated in my mind with spring - a fresh new beginning and a immense feeling of joy. Easter holyday were much anticipated. Traditionally, celebrations in Romania begin on the Saturday evening. Dressed in all their finest clothes and holding candles, people gather round the churches. At the Easter Resurrection Mass (Slujba de Inviere) just before midnight, the priest comes out to give a blessing, distribute holy bread and provide the flame from which everyone will light their candles. Suddenly the darkness is lit up and thousands of candles take to the streets. Everyone tries to keep the flame alive until they arrive home. There, around the table, the family comes together for a special Easter meal. Roast lamb and home-made cozonac (sponge cake with nuts and poppy seeds) are the traditional dishes. I still see, when I close my eyes, the ocean of lights coming down the hill of from the Cathedral of thousands and thousands of people caring the candles... and the powerful sound of the church bells. One of the most enjoyable Easter meal past 12 midnight with my family. The traditional Easter eggs - that were only dark red - the red wine and the Easter Bread made of sweet cake, breaded with red eggs. And of course my mother roasted lamb and olives dishes.   On Sunday 27th we celebrate the Greek Orthodox Easter. I'll be in San Francisco to celebrate a family tradition. Christ has risen! Indeed he has!     **************************************************** Few images from the Easter mass Celebration of Orthodox Easter!... Celebration of new life and HOPE! History of the Orthodox Church Here is a beautiful presentation of the history and roots of the Orthodox Church... ENJOY!

ELITE REALTY
7448 W.Sahara Ave. #106 • Las Vegas, NV 89117
Office: (702) 856-6680 • Cell: (310) 529-5360

Website: http://www.lasvegas-buyandsell-realestate.com/ • Email: arina.lv@gmail.com

What makes Oprah to be "Oprah"?

In her own words: "When you learn, teach. When you get, give." And she just does that for almost 2 decades.

The Oprah Winfrey Show had become the highest-rated talk show in TV history.

Winfrey has succeeded on many fronts - as an Oscar-nominated actress (The Color Purple), activist, magazine editor, producer, book club sponsor and radio host.

Her charity work is well known all over the world. She has raised and personally donated millions of dollars to victims of poverty and disease.

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It's every Oprah fan's dream! The Las Vegas Review-Journal is reporting that Oprah Winfrey will take her show from its home base in Chicago to the Las Vegas Strip next week, for a special taping with Cher and Tina Turner. The taping will reportedly take place on Saturday April 26, at a yet-to-be-named location at Caesars Palace, where Cher opens her new show...

I am not even sure if she ever did have in the past a show here in Vegas. Anyway she has here lots of fans and regular, devoted viewer of her show on television. So that this is going to be a one of a kind event for Vegans.

Select tickets are available to the general public by visiting Oprah.com and clicking on "Be on the Show."

Before you proceed, there are a few important
criteria you must meet to be eligible:

• You and your guest must be at least 18 years of age, no exceptions
• You and your guest must be Nevada residents
• Everyone in your party must have valid photo IDs
• Your party must be available Saturday, April 26th, 2008 from
  12:30 p.m. to approximately 4 p.m.
• Limit one entry per person or e-mail address

Read the complete official rules here

ELITE REALTY
7448 W.Sahara Ave. #106 • Las Vegas, NV 89117
Office: (702) 856-6680 • Cell: (310) 529-5360

Website: http://www.lasvegas-buyandsell-realestate.com/ • Email: arina.lv@gmail.com

How many times have we heard? "I'm waiting for the market to bottom out". There are two things in any financial institution, including the real estate, that all experts agree on: it's impossible to time an exact market top and it's impossible to time an exact market bottom. If you think it's better to invest in more solid and safe investments than Las Vegas high rise condos... let's see, perhaps.... Bear Stearns?

Bear Stearns was always viewed as "as solid investment as you can get". Right? Yet we all know by now what just happened... Who can foresee what can happen with others like Merrill Lynch, Fidelity, etc.? How does Las Vegas High rise Condo investment sound to you? Considering the opportunities just arised in the condo market it doesn't even matter because bargains have finally presented themselves to investors and buyers who become eager for action and don't want to sit around forever. The time to buy is now - when everyone else is scared - then to wait for "presumable" market bottom. If you are a champagne lover but you can only afford beer, there are opportunities developing in this market that are just up on your alley.

Resale market
As of June 30 on the resale market, there were 227 luxury high-rise units, excluding condo-hotels, with a median price-per-square-foot of $499. In addition there were 221 condo hotel units with a median price of $832 per square foot. On the average, luxury high-rise condos stayed on the market for 114 days while condo-hotel units stayed on the market for 125 days.

During the second quarter, units that sold averaged $814,000 or $507 per square foot. High-rise, non-condo hotel averaged $545 per square foot; mid-rise residence averaged $287 per square foot

There are right now Units available on both Panorama Towers and Trump Towers with @ $420 per square foot real bargains:

• A 1165 square foot, 2 bedroom 2 bath, 17th floor Panorama high rise condo unit with Strip views going for $549,000. (that's $420 per square foot!). Compare that to CityCenter prices - which is right across the street with a bridge connecting the two projects - where they're averaging about $1,200!

As far as the high rise condo market in Vegas, despite what you read in the paper, there are still 40 cranes in the sky of Vegas strip, there's million dollar construction going on and 100,000 jobs are on their way. The contra pressure from the other end is to great to keep the negative balance static... Somewhere along the way (maybe sooner than we expect) the balance will have to return to equilibrium.

Appreciation / Depreciation
Buyers of condos who bought in the early stages in 2003 and 2004 are $150,000 to $200,000 ahead, but those who bought in 2005 and 2006 find themselves in a difficult position, he said. With a median household income of $53,000, there are only so many people who can pay $2,000 to $3,000 a month in rent to help cover the mortgage.

There's no question that the economy right now is going like a car with its red flashers on. Where are you going to put your money these days? In the stock market?. Definitely not!... Keep the money in the bank? Definittaly not! ... we all know that each and every day the dollar gets devalued. What's there for an investor to do??? The old wisdom: INVEST IN REAL ESTATE! And the time for it was not looking that good in a long time.

Living the vertically life of luxury here in Las Vegas has become more and more popular among the affluent Home buyers. I believe that if you can afford to buy a Las Vegas High rise Condo at the moment and are willing to hold on to it for at least 2 years you will have made one of the BEST investments in your life.

Check out the Trump Towers, Panorama Towers, Boca Raton Condos, The Meridian and more. Visit our main condo web site at Las Vegas Condos for the latest updates.

ELITE REALTY
7448 W.Sahara Ave. #106 • Las Vegas, NV 89117
Office: (702) 856-6680 • Cell: (310) 529-5360

Website: http://www.lasvegas-buyandsell-realestate.com/ • Email: arina.lv@gmail.com

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