The real estate market for luxury condominiums appeared to have no ceiling for further growth.

Condo sales and home sales around Las Vegas have been hit hard by the credit crunch and inventory glut.  Units that cater to first time buyers have been hit particularly bad by the slump.

The luxury condo market is now starting to show weakness in the face of heavy development and tightening requirements for potential buyers.

Many developments attracted investors who only had to put a 10% deposit down on the property, with the intention to flip it in a couple of years.  However, as the increase in real estate values is below what was expected just two years ago, and fewer buyers qualify for new condos, many investors are simply walking away and taking the loss.

However, sales to overseas buyers could continue to remain strong due to a weak US dollar and the value of Las Vegas as one of the premier destinations for entertainment and gambling in the world.

The market for Las Vegas Luxury Condos could see continuing strength in the most high profile developments.  The most luxurious units could also maintain their value.

However, mid-level units that cater to investors and buyers looking for a second home face a rocky road ahead.

Technorati Tags: Luxury Condos Las Vegas, Market Outlook Las Vegas, Las Vegas Preconstruction Condominiums

If you’re booking a stay in Las Vegas at the Plaza Hotel and Casino after 2010, make sure you’ve got the right hotel. 

The Plaza Hotel of New York fame is planning a $6 billion dollar hotel for the Las Vegas strip.  The only problem is that there already is a Plaza Hotel in downtown Las Vegas. 

The Plaza has been around Las Vegas for over 30 years, offering budget accommodation and cheap slots.  Tamares Las Vegas Properties bought the Plaza in downtown Las Vegas in 2004 and is now filing suit against the investors behind the project to bring the New York brand to Las Vegas. 

The court fight over who can use the Plaza name will continue for months, but the Elad Group is still moving forward with plans to build the multi-billion dollar hotel and casino.  Completion is slated for 2011. 

The 34.5 acre site is currently home to the New Frontier Hotel and Casino which will soon be demolished to make way for the luxury development. 

Plans call for a mixed use project, including a 3,500 room hotel, condos, retail space, and a casino.  The hotel will offer the same luxurious amenities found at the landmark Plaza Hotel on 5th Avenue in New York City. 

Find the best Real Estate in Las Vegas, Nevada.  Buyers can choose from luxury condo hotels such as the Plaza, single family homes, and other condo and loft developments around the city.

Technorati Tags: Las Vegas Condo Hotels, The Plaza Hotel Las Vegas, Las Vegas Preconstruction Condos

The Las Vegas real estate market is seeing heavy development of luxury lofts in neighborhoods around the city. Green Valley is one of the most popular new masterplanned communities that offer luxury homes, condominiums, and lofts in a suburban setting.

The District Lofts is one of the newest real estate projects announced for Green Valley. These lofts will offer units ranging from 875 square feet to 1750 square feet. Prices start at $350,000 for the smaller lofts.

Amenities at the District Lofts include energy efficient features throughout the property, washer and dryer, and high ceilings. Residents can also enjoy the rooftop garden with grills, bar, and spas. There is also concierge service and security on staff 24 hours a day.

Green Valley is a master planned community that offers luxury homes and condominiums just minutes from the Las Vegas strip. Residents are also close to several hiking and biking trails in the mountains, offering an active outdoor lifestyle minutes from the best entertainment and casino action on the strip.

Lake Mead, the Grand Canyon, and other national parks in the area offer residents a chance to get away and enjoy nature at its best.

Technorati Tags: The District Lofts, Las Vegas Properties, Las Vegas Luxury Condos, Green Valley Real Estate For Sale