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HAPPY 4TH OF JULY IN LAS VEGAS

Posted on: Jun 30, 2014 by Melinda Zolowicz
 4th of July Cupcakes and Fireworks 2014

Fireworks, Baseball, Parades, Speed racing, Boating, and Fireworks everywhere make Las Vegas the place to be on the 4th of July weekend.  Henderson, Primm Valley, Boulder City, Mesquite, Laughlin, and all around the city you will be amazed at the celebrations and the displays of fireworks.  Here is a brief recap of some of the many activities.

Ceasars Palace Street Corner

Caesars Palace

Caesars Palace Las Vegas will have Fireworks by Grucci. He has an internationally-acclaimed fireworks entertainment production company that specializes in unforgettable visual extravaganzas. The fireworks will be shot from the hotel's Roman Tower beginning at 9:15 PM. One of the best views will be from the front fountains at Caesars Palace.

THE LINQ

See the Fireworks from atop the High Roller at The LINQ. High Roller riders will be able to view the firework displays around 9 PM at Caesars Palace and 9:30 PM at the High Roller parking lot.

The High Roller at The Linq
Mandalay Bay Beach Fireworks at Night

Mandalay Bay

The Beach will display fireworks and a musical performance by the local classic rock band "Phoenix". Enjoy the extravaganza Friday, July 4. Doors open at 8 PM. Tickets are $20 and family four-packs are priced at $60.  Get tickets at Las Vegas Ticketmaster locations. Tickets also are available for purchase at mandalaybay.com or ticketmaster.com.

Stratosphere

The Stratosphere Casino Hotel hosts its  "Independence Pool Party" on Friday, July 4th.  The "Largest Fireworks Display Ever" will begin around 9 PM.  Firework’s by Grucci.

Stratosphere Tower
Aliante Station Casino

Stations Fireworks

The 5 Station Casinos all feature a 9 minute fireworks display simultaneously.  The five Stations Casinos include Aliante Station, Green Valley Ranch, Texas Station, Fiesta Rancho Casino, and the Red Rock Resort.  One of these may be close to you so watch the skies at 9 PM on the 4th!

Las Vegas 51s

Baseball, hot-dogs and fireworks!  Las Vegas 51s, the Las Vegas Baseball Team, plays the Tucson Padres.  Fireworks Extravaganza will be after the game for visitors and the Las Vegas families. Las Vegas 51s will play at Cashman Field located at 850 Las Vegas Blvd North, Las Vegas, NV  89101 (Call 702.386.7200).

Small Boy in Cowboy Hat and American Flag
Henderson 4th Of July Logo

Henderson Fourth of July Celebration

Mission Hills Park will host a party Friday July 4, 2014; 6 PM - 9:15 PM. Watch the Fireworks Show at 9 PM. 551 East Mission Hills Drive.

Primm Valley Casino Resorts

Primm Valley Casino Resorts will be celebrating their 6th annual spectacular fireworks show. Arrive early for prime parking spots!  The Desperado, nicknamed "The Speed Demon" by the Travel Channel.  Other attractions will be performed throughout the day.

Primm Nevada Fireworks Dusk
Race Car On Las Vegas Motor Speedway

Las Vegas Motor Speedway

Start early at the Speedway on July 3rd.   Watch fireworks,  see NASCAR-sanctioned stock car racing, and enjoy the $1 hot dogs and $1 Coca-Cola products.

Laughlin

Laughlin features a spectacular fireworks “Rockets Over the River” on Friday, July 4th at 9 PM. Fireworks will be launched and over the Colorado River. While you watch you can listen to the Patriotic music by Laughlin hotels and radio stations: KFLG, LUCKY98, The Knack, KAAA/KZZZ and KSTAR. The entertainment is free and open to the public.

Laughlin Fireworks at Night
Hipster Teenage Girls In Front Of American Flag

Summerlin

Summerlin Council is hosting its July 4th Patriotic Parade for the 20th year. This parade is the largest 4th of July parade in Southern Nevada. Governor Brian Sandoval will join the parade and celebrate the 150th anniversary of Nevada's admission to the Union.

25 Macy's style balloons will fly in the sky and bands will play tunes to entertain the young and old alike. There will be more than 70 entries including a themed float from the movie “Frozen” and a 74 foot long snake from "The Jungle Book".

Everyone is invited to show up at the Trails Village located at Hillpointe Road and Hills Center Drive to watch this fantastic parade which starts at 9 AM and travels along streets lined with flags.

Start your day off with a bang and participate in Summerlin’s Firecracker 5K and 1 Mile Fun Run/Walk. The Trails Park in Summerlin is the place to be in red white and blue to begin the day with a festive walk/run. The Firecracker 5K and the 1 Mile Fun Run/Walk at 6:30 AM. The entry fee is $20 on or before July 3rd or $25 on July 4th.

Hot Dogs On Classic Picnic Table

Boulder City Damboree

Featuring a pancake breakfast, a parade, a legendary water fight, games, booths and concession stands and of course fireworks the Boulder City Damboree Celebration remains one of the best ways to celebrate Independence Day in the Las Vegas Valley.

Each year on the 4th of July the Las Vegas "suburb" of Boulder City hosts the Boulder City Damboree Celebration. This year commemorates its 64th year with the catchphrase "Preserving Our Past to Educate the Future".  Built in the 1930's to house and entertain the men building the Hoover Dam, Boulder City remains a quaint slice of Americana that is often difficult to find in modern, activity driven, and neon illuminated Las Vegas.

The parade starts after the free pancake breakfast at 9 AM and features a water battle on one of the float.

The riders and parade bystanders battle with squirt guns, water balloons, and lots of screaming.

Start with free pancakes (yum) at the crack of dawn.  The real fun begins with the parade at 9:00 AM. Famous for the water battle section of the parade, where float riders and bystanders battle with squirt guns and water balloons, this parade is more fun and cooling than most. Just make sure to know the rules. Check them out on the Boulder City Official website www.bcnv.org.

Damboree Schedule

  • 7:00 AM: Pancake breakfast hosted by the Rotary Club at Bicentennial Park.
  • 9:00 AM Parade starts at Colorado Street and then parades onto Nevada Highway to Broadbent Memorial Park at 5th St.
  • 9:05 AM Flyover by the Boulder City Veteran's Flying Group
  • 10:00 AM to 4:00 PM Midway Booths featuring food, drinks & games. Presented by non-profit groups
  • 11:00 AM Damboree Celebrations with Flag Raising & National Anthem and the presentation of parade trophies & greetings by dignitaries.
  • 1:00 PM Coin Toss at the Pool (admission: price to the pool)
  • 2:00 PM Games and Contests
  • Festivities at Veteran's Memorial Park 6:00 PM - 11:00 PM
  • 6:30 PM Food - fun, water park & competitive games
  • 7:00 PM -8:45 PM Pie Eating and Live Music
  • 9:00 PM Fireworks Show

ENJOY THE 4TH OF JULY IN DYNAMIC LAS VEGAS

WATCH THE SKY FOR THE SHOW OF A LIFETIME!

 4th of July Cupcakes and Fireworks 2014

 

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Las Vegas Market Watch - Sifting Through The Numbers

Posted on: May 31, 2014 by Melinda Zolowicz

Is there a recovery taking place in the Las Vegas housing market, or not?  The word “recovery” is now one of those overused terms by pundits, economists, politicians, and reporters.  If used to describe the overall economy, then yes the improvements are there, albeit at a much slower pace than most would like to see.

Even the most optimistic analysts talk of the “slow, drawn out recovery”.  Although the overall economic basis of the Las Vegas area appears to be improving, the housing market seems to be “stuck in neutral”.

NEW HOME PRICES

In April there were 428 new home recorded sales (all product types).  This brought our 2014 sum to 1,715, which is a year to year decline of 570 transactions, or 25%.

There were 24 high rise closings, which brings the April “traditional’ new home recorded sales to 404, and 1606 year to date.  This is a 30% decline from what we documented in 2013 during the same period of time.  So, where are the new home closings?  The monthly sum has to increase based on the research of Dennis Smith who monitors the builder traffic on a weekly basis.

The median price of the April new home recorded sales was $286,506.
(Without the high rises, it was $280,000.)  This is a year to year change (increase) of $47,686, or 20%.

The year over year comparison is very impressive, but in no way represents what has happened in the last 6 months, which has seen the new home median fall by $6,675, or 2%.  So, although many of the press releases still report the annual changes and their double digit gains, it is more accurate to understand the most recent status of the market performance.

In January 2014, the new home median price was at $300,000.  Since then, it has dropped by about $14,000, or 5%.  The new home median will recoup this decline by the end of 2014.  The stronger price appreciation will be near new developments that have had to engineer raw land into finished lots.

RESALE HOME PRICES

There were 2,992 recorded resale transactions in April.  This brought the year to date sum in 2014 to 11,044, which is a year to year decline of 3,636 resale closings. It is a year to year decrease of 25%. 

The median price of the resale closings in April was $173,000.  


The median price of $173,000 is a year to year increase of $24,000, or 16%.  Like the new home segment, the number of resale closings also appears to be stuck below a viable, vibrant pace in the existing home segment. 

Most of the existing home prices did rise by 20-30% YEAR TO YEAR, but in the last 6 months, the monthly resale median price has only risen by roughly 5%.
   
The number of distressed homes on the market, and those with negative equity has declined.  Relative to what it was at the peak of the recession, this certainly was expected.  

According to Residential Resources, the overall supply of single family listings is now 2.7 months, and has been steadily declining since the middle of February, 2014. In a normal market there is a 6 month supply of available homes.          

 
If you are considering a home purchase, it may be the time to buy.  After sifting through all of the statistics, it is still better to buy than to rent and start building equity sooner than later.  Interest rates are low and prices have stabilized. 

The national economy is recovering as evidenced with lower unemployment rates.  A complete recovery may be a couple of years away but interest rates may rise and your payment would be more for the same home.  And when there is a complete recovery who can predicate what the home prices will be? 

The current home prices are appraising right around replacement cost.  That’s a good number. Please call me 702-927-4032 or email me to discuss your questions and options for investing in your future.   

CURRENT LAS VEGAS STATISTICS

Here are some of the positive Las Vegas economic year to year statistics. This is an update to the 1st quarter snapshot.

  • Unemployment rate is 8.9% (national unemployment rate is reported to be about 6.3%.)
  • Statewide, 37 consecutive months of positive year over year job growth.
  • Visitor volume is consistent at about 40,000,000. That averages about 3,333,333 per month.
  • Gaming revenues were up $6.5 billion.
  • The Las Vegas metropolitan area population has increased to 2,062,254. 

 

Thank you Dennis Smith For Your Article Information.

Las Vegas Homes Prices, Inventory, and Sales On The Rise

Posted on: Apr 28, 2014 by Melinda Zolowicz
The Las Vegas Market Watch found some interesting facts for the “New Home Market” in the first quarter.    
   
   

The new home sales count for March was 453. It brought the 2014 1st quarter total to 1,287 new home sales.

There is confidence that the new home closing numbers will rise somewhat in the coming months.

The median price of the new home closings in March was $285,475 down from a high of $300,000 in the last six months.

The median price has been pretty flat, and actually softened during the last 3 months as shown on the graph.

The steady, improved job growth and a growing population are certainly good things to see, but there is still a way to go before consumers and businesses feel “warm and fuzzy” about the future. Check out the current statistics in the previous blog and you will see the numbers going in the right direction.

Las Vegas continues to capture many sales from people relocating to Las Vegas and the trend continues as shown in the population growth. With the recovering economy we should expect improving demand for housing. There are still many consumers who have been “stuck” in their homes due to the lack of equity. They report that they will sell their home and move into a new home when they have the funds to do so. So, the pent up supply of buyers continues to increase.

The new home permits took a very nice jump in March, with 549 pulled by builders. The first Quarter ended with 1,385 permits being purchased by home builders in the metro area.

That puts the first Quarter figure at 23 percent less than the 1st quarter of 2013.

Dennis Smith of The Las Vegas Market Housing Letter reports that the monthly permit totals will increase through the summer because the contract orders for new homes are still looking pretty good.

The pie chart above displays the market share of the net sales during the 1st quarter, 2014.

It might seem remarkable that 68 % of all the net sales during the first quarter came from only two sub-market areas, the northwest and the southwest.

In the past, the area market share of new home sales was more disseminated around the valley, but has become more concentrated in locations near the active master plans, because that is where the best available supply of lots have been located.

As the supply of replacement lots in the Mountain’s Edge master plan in the southwest part of the metro area continues to recede, the southwest area market share will also decline. There is nothing “on the horizon” in the southwest area to replace it.

The northwest and North Las Vegas (NLV) share will increase, with probably the biggest improvement taking place in North Las Vegas. Relative to the rest of the Las Vegas valley, there is a lot of land in NLV, and the next major master plan opening will be Park Highlands.

There were about 15,000 homes planned at Park Highlands (PH), which straddles the 215 Beltway in NLV near the Aliante Hotel. But, PH was a casualty of the great recession/depression in Las Vegas.

Originally, investors paid about $639 million for the land from the BLM. After a bankruptcy and the great depression/recession, Crescent Bay Holdings bought it for just over $21 million. (This is a good example of what happened to land values in some parts of southern Nevada.)


Crescent Bay and Sun Cal Development, who owns about 114 acres in PH West, are expecting a final vote from the NLV city council on May 21st on a revised Development Agreement that basically splits the PH master plan into PH East and PH West, with the Aliante golf course acting as the dividing “line”.

PH West will consist of about 4,000 lots on 600 acres.


The larger PH East will hold about 11,000 homes, which the developers hope will begin pulling new home permits by the end of 2015.



The Resale Market First Quarter

We counted 2,854 recorded resales in March, bringing the 1st quarter total to 8,052.  This is a decline of 2,613 transactions, or 24.5%.

The median price of the March resale closings was $171,000. This is a one month increase of $6,000, or 3.7 percent. The increase breaks the recent 7 month flat median price trend, and although we don’t like to place a lot of “hoorah” on a one month change, this is something we have been expecting for some time. The decline in the number of REO sales should by itself cause the traditional resale prices to rise.

We know there should always be a pricing gap in the REO and short sale listed prices and the traditional listings.

So, even though the number of resale transactions (bye, bye to the investor sales) has declined, the prices should slowly move upward. SLOWLY is the key word here.

Check out all the available homes on my website ……

http://www.melindazolowicz.com/properties/search
 



Thanks to Dennis Smith for his charts and facts.
“THE LAS VEGAS HOUSING MARKET LETTER” – April 19, 2014
HOME BUILDERS RESEARCH, INC.,

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