The Las Vegas City Council approved an ordinance to control the growth of new developments on the surrounding hillsides.

The new ordinance allows the city to look at new development proposals on an individual basis.

Nobody would have thought that this type of ordinance would have been necessary twenty years ago.  The original zoning ordinance did not even contemplate developments on hillsides, as there was plenty of land on the valley floor.

However, the city continues to annex parts of Clark County, particularly towards the west.  Many new master planned communities have been built towards the Spring Mountain Range.

Developments such as Summerlin are among the most popular on the local real estate market.  The area is home to several new condominium and single family home developments, as well as numerous luxurious private communities.

Housing projects have almost reached the Red Rock Canyon National Conservation Area.

The arrival of the Las Vegas beltway further spurred development on the west side of the city.  The freeway gives residents easy access to downtown Las Vegas and the strip.

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Summerhill Apartments, located at 2150 N. Tenaya Way, sold for $52 million.  The per unit price is $118,000. 

The Summerhill Apartments were bought two years ago by the former owner, Great American Capital Inc. for just over $32 million.  Great American Capital Inc. owns properties in Las Vegas and southern California. 

Occupancy in the apartment complex is currently at 90 percent.  The complex is close to freeways.  Downtown Las Vegas and the Las Vegas strip are just a few minutes away, making the property an attractive choice for renters. 

Artisan also owns two other properties in Las Vegas. 

Current numbers from the Center for Business and Economic Research at the University of Nevada, Las Vegas show that apartment vacancy in the area has risen 38.4 percent in the last year.  The vacancy rate stood at 7 percent in July 2007, up from 5.1 percent in July 2006. 

However, rental rates are increasing across the Las Vegas Real Estate market.  There was a slight 2.8 percent increase in the average rent for an apartment in Las Vegas over the last year.  During July 2007, the average was $856, up from $833 in July 2006. 

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A total of 22,928 foreclosures were reported in the first half of the year, double the amount of the first half of 2006. According to www.narreia.com, there were 2709 defaults on home loans in the greater Las Vegas area. .

The real estate market in Las Vegas also is seeing a slight decrease in average prices of homes. According to data from the multi listing service in the Las Vegas area, the average price for homes has decreased steadily since February 2007.

Inventory is also increasing. The most recent numbers from www.narreia.com show that the inventory of single family homes in Las Vegas has increased to 21,337 as of August 22, 173 more than the previous week.

More foreclosures and higher inventory numbers should lead to a glut of single family homes in Las Vegas. Investor interest seems focused on downtown Las Vegas condominiums and luxury properties on the Las Vegas strip.

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One of the newest luxury condominium development announced for Las Vegas is the Vegas Grand. This midrise development will be located just across from the University of Nevada Las Vegas on the corner of Swenson and Flamingo. This development will offer different luxurious buildings, the Villagio, Villa D’este, Bella Venezia, and Cipriani. Each building will offer different floor plans and amenities that will make residents feel like they are living in the midst of an Italian village.

Amenities will include gated access for greater privacy, fitness center, tanning salon, saunas and pools, and other services that would be expected from a luxury country club. Residents will also have complete access to 24 hour concierge services, social events, and excellent jogging areas in the development.

Vegas Grand promises to offer the best in luxury condominium living just minutes from the Las Vegas strip. New Condos in Las Vegas are now offering a wide variety of amenities and prices for every budget. Find the right mix for you and your family today.

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One of the newest developments to come to downtown Las Vegas will be at the corner of East Washington and Veterans Memorial. Known as Cielo Vista, this project offers 414 preconstruction condos just minutes from the best that Las Vegas has to offer. Prices for these luxury condos start in the mid $300s, making them one of the more affordable options for buyers looking for residential property on the Las Vegas strip and downtown. Floor plans for these condos range from 1,000 to 2,000 square feet.

Amenities in the development will include a pool, spa, health club, and access to several thousand square feet of prime retail space on the lower floors. Each condominium will have incredible views of downtown Las Vegas and the Las Vegas strip. These condos are an excellent choice for young professionals and families looking to enjoy the best that Las Vegas has to offer. Discover Great Condominiums in Las Vegas and find the home of your dreams in the heart of the Entertainment Capital of the World.

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Las Vegas has consistently gone through development for the past 100 years. There are many condos that were built during the last boom a decade ago that offer incredible bargains and quality construction. Finding a two bedroom condo for under $150k is still a possibility in many great neighborhoods throughout the city.

One of the newest two bedroom condo listings is found at Los Feliz Street and Burcot Ave, just north of East Lake Mead Blvd. This neighborhood is perched overlooking the Las Vegas valley right next to the mountains. Residents enjoy both the outdoor activities at Lake Mead, in the mountains, and in the many golf courses around the neighborhood as well as the incredible nightlife and gaming on the Las Vegas strip. These condos start at around $135,000, making them a great choice for a young family or single professional looking for their first home in Las Vegas without breaking the bank.

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Many people who come to the city look for ultra luxurious condos and lofts on the Las Vegas strip. Others face the more daunting task of finding affordable housing in a city known for its excesses. However, if buyers take the time to search for condos and homes in the right neighborhoods of Las Vegas, they will be able to find something for every budget.

One example of an affordable condo in Las Vegas can be found at the corner of Stephanie Street and East Hacienda Avenue. This development offers one bedroom and one bath units for $120,000. These condos are built with excellent materials and offer quality fixtures and appliances in the interiors. Residents can enjoy the pool and health club to stay active and cool off from the desert heat.

New residents to the city can find the best in Luxury Condos and Lofts in Las Vegas as well as affordable homes throughout the city. Take the time to investigate all of the possibilities on the Las Vegas real estate market and find the right property for your budget.

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One of the most affordable deals on the condo market right now can be found at Desert Gardens Condominiums, at 1720 W. Bonanza Road.  This condo development offers 640 square foot condos for $75,000.   With one bedroom and one bathroom, these condos are an excellent choice for young professionals looking to get into their first home without taking on hundreds of thousands of dollars in debt. 

Desert Gardens condominiums offer quick access to the freeway and the Las Vegas strip.  Some of the best restaurants, shows, and casinos are just minutes away.  These loft style condominiums include a community pool and other outdoor activities that give residents many opportunities to enjoy an active lifestyle. 

Desert Gardens is an excellent choice for those looking for an affordable condominium in Las Vegas.  There are also many other condos and lofts on the market that offer luxurious surroundings.  Downtown is home to many new high-rise condo developments while many mid-rise condos can be found in suburbs such as Henderson and Summerlin.  Luxury Homes in Las Vegas offer great amenities and competitive prices. 

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The Expo will take place from 11 am to 6 pm on Saturday, August 11th at the Palms Resort and Casino Convention Center.  This is a unique opportunity for investors and buyers to get an overall idea of what homes, condos, and lofts are currently on the market or will be on the market within the next few months. 

Buyers looking for a new home or condo in Las Vegas should not miss out on this unique opportunity to meet with so many real estate professionals in one place.  As the real estate market in Las Vegas continues to experience minor difficulties due to high inventory levels, there will be more deals on the market for savvy investors looking to take advantage of the current conditions. 

See all of the best Las Vegas Condos for Sale under one roof and find the home of your dreams at the Las Vegas Real Estate Expo. 

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The last few years have seen some of the most innovative developments that are changing Las Vegas and creating a more urban environment like those found in cities such as Chicago and New York.  High-rise condo projects along the Las Vegas strip as well as downtown are bringing residents to the area 24 hours a day and revitalizing many neighborhoods just a few blocks from the strip. 

Sullivan Square is one of the most innovative developments on the market.  Located just a few miles from the strip, this Las Vegas development offers urban living at prices not found in high-rise developments closer to downtown.  Sullivan Square has 1,300 condos for sale, offering a choice between lofts, condos, townhouses, and homes that give this neighborhood a distinct urban feel.  Sullivan Square also provides retail space for small shops and restaurants that give an added convenience and intimate feel to this incredible Las Vegas condo development. 

One of many unique offerings on the market, there are several new condo and loft projects underway in Las Vegas for buyers to choose from.  Find Las Vegas New Condos and move into the home of your dreams today. 

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