from ———-Las Vegas High Rise Condo Blog Your #1 source by Makea Turner

Today I though I would put together a few graphs that illustrate the sales at Panorama Towers 1&2, The Signature At MGM, & Turnberry Place, which by the way were the top 3 selling developments for the summer of 08. As you can [...]

Las Vegas is selling single family homes a little faster than we did in July. The number of contingent SFR contracts stands at 3809; the number in pending is 2630.
What is pending vis-a-vis contingent? Given the odd contract scenarios foisted upon innocent buyers by the investor-sellers, there is no difference in this context. Both mean [...]

Contrary to what the local doom and gloom media reported yesterday, Las Vegas home prices didn’t “plunge” 28.4% in May.  Can someone please help their writers get this right?  On three accounts (that I see…though there are bound to be far more) they blatantly distorted the facts to appear far worse than the numbers truly [...]

Pending Sales:

Here we are at the half way point in July, and pending sales are right where they were last month. June 15 2008 saw single family pendings at 2602 units; July 15 shows 2605 pending units. Also noteworthy, single family contingent sales - those in contract but still subject to inspections or financing, were [...]

If you haven’t yet been over to The Frothing Developer’s website, www.frothingdeveloper.com, then you’re missing a wonderful angle & unique viewpoint on the Las Vegas real estate market. Alex Edelstein, CEO of Gemstone Development refutes, debunks, and demystifies what the national and local press have to say about the Las Vegas real estate market. [...]

Las Vegas pending single family sales were at 2234 on May first (we officially closed 1794 units for April - the preceding 30 days), 2542 on June first (we officially closed 2026 for May) and we have 2591 pending sales today (we unofficially closed 2116 units in June).
If that holds up, not only has each [...]

Check out the information about the Las Vegas real estate market provided by SalesTraq. Existing home sales showing strong increase. New home sales still on the wane.  Read a more in depth article at the Las Vegas Review Journal.  Resales pass 2,600 units for first month since March ‘07; new-home sales stall

Rate [...]

Doom and gloom surrounds the local and national real estate headlines, but pending and contingent sales figures have seen a dramatic increase (as noted in other posts). Similarly, high-end luxury homes in Las Vegas have not seen a decline in value, but rather a dramatic increase. Ultra high-end luxury homes are considered homes [...]

Our good friend and Title Professional Linzy Turner with Old Republic Title Company provides the latest housing sales reports for Las Vegas single family residences, as well as Condo’s and Townhomes. There are articles throughout the “blogosphere” that have made attempts at interpreting these figures, but we will leave that interpretation up to you. [...]