Real Estate news update

One of the major contributors to the job market in Las Vegas is the construction industry. It looks like construction will not be slowing down any time soon. Time-share giant Wyndham Vacation Ownership plans to develop another property in Las Vegas near the Rio. Dubbed the Wyndham Desert Blue, this will be their fifth time-share property in town. Later this month their prior project the WorldMark Las Vegas Tropicana, is scheduled to open (Wyndham has been advertising heavily employment sites). The project will feature 280 units in phase one on a 14.75 acre parcel on West Twain at Dean Martin Drive.

The phase one of the project is slated to open in early 2010. The first phase will have one, two and three bedroom units and 50 suites. Amenities will be the standard fare, pool, computer library (no word yet on whether free internet access will be included), fitness center and recreation room. According to Clark county records, the site has been owned by Wyndham since 2005 and was purchased for $1 million dollars.

High Rise Condos

There is good news for some high rise condo buyers. Today One Las Vegas received its Certificate of Occupancy for tower I and residents can expect to take possession of their condos soon. Tower II is due to be completed in the next few weeks. At build out, One Las Vegas will have four residential towers and two hotel towers located on the front of the property, facing Las Vegas boulevard.

Other projects are coming along as well. Earlier this year, Metreon lofts had their ground breaking party. This is another mixed use project, located in the growing beltway area of West Flamingo being developed by Kennedy Commercial.

Housing Deals

Lennar has been consistantly sending me emails about special pricing, etc for the last month. Right now Lennar is offering special financing, with the first year interest rate of 2.88% fixed for the first, year, 3.88% fixed for the second and 4.88% (5.34% APR) for the life. Of course there are some requirements, including you must put 3% down and have a credit score of at least 580.

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New home builders are

New home builders are putting out some great deals. - Heidi

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