Las Vegas Real Estate Info

Builder Online is reporting interesting findings in the local housing market. Las Vegas housing expert Dennis Smith is seeing mixed signals in the local market, which seems to be cooling like the national market. Activity was also strong in March with 3,022 building permits pulled. The year-to-date total of 7,773 represents a 16.6 percent increase from last year, still short of the record 9,149 permits pulled in first quarter of 2004.

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The Las Vegas Business Press is reporting that Centex Destination Properties plans to break ground next week on the repackaged $1.5 billion, 2,400-unit “Urban Village” mixed-use project on Las Vegas Boulevard South, between Frias and Pyle avenues. The firm purchased the 50-acre site and project plans from Diversified Real Estate Group in December.

Urban Village will eventually consist of five neighborhoods with buildings up to 12 stories, housing a combination of brownstones, live-work spaces, flats, lofts and condo-hotel units. The project additionally will offer shops, restaurants, a pool complex, fitness center, jogging paths and parks. Other features call for secured parking, rose gardens, pet stations, outdoor grills and a bocci court. The development is expected to reach build-out in eight years.

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The construction of condominiums in downtown Las Vegas is being welcomed by business owners in the growing Arts District - but creating anxiety among some artists who fear the loss of affordable housing. The clash of lifestyles - marked by the construction of high rises at the expense of artists’ apartments - is expected to surface tonight when the city Planning Commission considers a 43-story condo project at Casino Center Boulevard and Colorado Avenue. The high-rise building would replace four duplexes occupied by artists.

The developer, Mythic Management, already has purchased the property for nearly $3 million. For more on this article, check out the The Las Vegas Sun

Pulte Homes, for example, recently broke ground on a 2,014-acre master-planned community in Mesquite, 80 miles northeast of Las Vegas. The development, called Anthem Mesquite, will consist of 4,600 single-family, detached homes built around an 18-hole golf course designed by Gary Panks. Las Vegas, by contrast, has a golf course construction moratorium in effect because of drought conditions. For more on this, read here.

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KLAS-TV is reporting that with tens of thousands of new people arriving every year, Southern Nevada is one of the fastest growing and rapidly changing areas you will find. The Las Vegas Perspective, a yearly publication, takes a look at those changes.

One of many interesting findings in this year’s edition is the one showing the relationship between housing prices and salaries.

Imagine getting a $200 a year raise in your paycheck. Now take that raise and try buying a house here in Las Vegas. That’s a reality that’s hitting too close to home.

This information brought to you by Homes in Las Vegas and Nevada.