Tom Garcia

Only time will tell if the bailout of the two mortgage giants will help stabilize this troubled market.

One thing the taxpayer funded rescue does is remove the uncertainty existing on 50% of the outstanding loans nationwide.

Could this be the trigger that lays a foundation for a recovery of the mortgage market?

If history does indeed repeat itself, the answer is a resounding Yes. I do not know a significant government bailout in the last century that has failed.

While it is unlikely to have an immediate impact, the taxpayer infused boost to the lending giants are sure to stabilize the lending markets in the intermediate to long term.

In places like Las Vegas, this is unlikely to give immediate relief to those seeking financing for products like high-rise condos and risky condo hotel units. That being said, any relief is welcome.

Tom Garcia can be reached at 702-250-6355

www.VegasLuxuryLiving.com

2008 Luxury Realty Group, all rights reserved.

All information in this blog is subject to change. information should be considered time sensitive

The Howard Hughes Corporation has released initial renderings of the shopes at Summerlin Centre. This billion dollar development will anchor Summerlin Centre. Summerlin is located on the western edge of the Las Vegas valley has been among the most successful master planned communities in the nation over the past decade.

Summerlin is located on the land originally pruchased by Howard Hughes in the 1950's. What was orginally envisioned as a massive avaition development facility has turned out quite different. Thousands of Las Vegas residents now call Summerlin home. Many consider Summerlin the preferred location for those looking to relocate to Las Vegas.

Residents in Red Rock Country Club which is located on the western edge of Summerlin, were initially on an island separated from the development of the city. the city has grown west to the point where the only undeveloped land is the Summerlin Centre project. Just south of Red Rock is the custom home development of The Ridges. Here you will find some of the finest custom luxury homes available In Las Vegas. For a closer look click on the link below and search luxury homes, then, The Ridges Las Vegas.

http://www.VegasluxuryLiving.com

Summerlin Center will not be a Mall, but a living and cultural experience. This project is out of the ground. Phase one is scheduled for completion by the end of 2009. The initial renderings are most impressive. Four major anchors will be surrounded by a multitude of dining and shopping opportunities. Combinded with the Red Rock Resort and Casino that joins the project to the north, we are talking about $2 Billion of commercial development in a 1/2 Sq. Mile area.

Red Rock Country Club is a 1300 home luxury home community located just west of Summerlin Centre and represents a tremendous opportunity to live at the outer edge of Summerlin and the Las Vegas valley, and a short drive or bike ride to the future Summerlin Centre. For more information on Red Rock Country Club visit www.VegasLuxuryLiving.com or contact us direct at 702-360-6645.

We are Tom Garcia and Amy Garcia of Luxury Realty Group. We are residents of Red Rock and would be happy to provide you with more information on this wonderful community.

2008 Luxury Realty Group all Rights Reserved.

All information in this blog is subject to change. Information should be considered time sensitive.

While the number of foreclosures in the Las Vegas residential housing market is no secret, what is not widely reported is the short time most of the foreclosures spend on the market before they are placed under contract.

Even in this difficult lending environment properties are moving so quickly that it makes you wonder if savvy buyers have more confidence in the market than lenders and the press.

Case in Point:

In the luxury home community of Red Rock Country Club on the western edge of Las Vegas we have seen a steady stream of short sales and foreclosures. The golf course homes in particular are being placed under contract quickly. This is making sales for the non-distressed homes difficult.

It begs the question of how deep this down cycle will actually be in the Las Vegas market. Tens of thousands of jobs are still being created, home builders have significantly reduced the rate of new home construction and short term flippers are being flushed out of the market.

Only time will tell, but it is quite possible that 2008 will be looked back upon as one of those periods in time where home-buyers will be wishing they had moved against the crowd.

We are Tom Garcia and Amy Garcia of Luxury Realty Group. 702-360-6645

www.VegasLuxuryLiving.com

2008 Luxury Realty Group, all rights reserved.

All information in this blog is subject to change. information should be considered time sensitive

Locals have been watching and amazed at the incredible rise of CityCenter for the past 2 years. All the elements of the 66 acre project have been officially named except the most prominent structure. The main casino and hotel.

Finally the massive 61 story hotel has a name, ARIA Resort & Casino.

Scheduled to open in December of 2009, ARIA Resort & Casino is the center of the most costly privately funded construction project in the history of mankind. The most recent cost estimate from MGM Mirage, puts a $9.2 Billon price tag on the project.

To put this in perspective one must remember that the Bellagio Resort and Casino was built for under $2 billion.

At Luxury Realty Group and the Garcia Group we closely monitor all the development in the Resort Corridor of Las Vegas. www.VegasLuxuryLiving.com

Check our luxury high-rise blog for great video, pictures and informative articles on what's happening in luxury Las Vegas real estate.

We can be reached direct at 702-360-6645

"Your Premier Las Vegas Strip Consultants"

Luxury Realty Group is consistently quoted by the national press; making television appearances on CNBC, FOX News, ABC News, and CBS News as well as sharing their expert opinions with print publications such as Fortune, Forbes, Wall Street Journal, New York Times, and Los Angeles Times.

2008 The Garica Group all rights reserved

All content in this post is subject to change without notice. Subject matter is not guaranteed and is often considered time-sensitive.

Buyers looking to turn back the pricing clock for luxury golf Course homes in Las Vegas can do so in the community of Red Rock Country Club, located in the master planned community of Summerlin.

Summerlin has consistently been ranked amound the top master planned communities in the nation.

Not long ago getting a golf course home in this community was difficult to find for under $1 million. Current market conditions have created an exceptional buying opportunity for those ready to move.

Golf front homes in the 2500 Sq. Ft. range are available starting under $700.000. Prices in this 1300 home community start in the $500,000 range and continue quickly into the multi-millions. The community surrounds two Arnold Palmer designed courses that provide challenging play and world class views of the southern Nevada desert.

The community of Red Rock Country Club backs up the the Spring Mountains so it is at the western boundry of the Las Vegas valley. Just to the south is the exclusive custom home village of The Ridges Las Vegas, home to some of the most spectacular custom homes in the nation. Homes in the Ridges are priced up to $25 million.

For more information on Red Rock County Club in Las Vegas, contact Tom Garcia or Amy Garcia of Luxury Realty Group. www.VegasLuxuryLiving.com Contact us direct at 702-360-6645.

2008 The Garcia Group, all rights reserved

All content in this blog should be considered time sensitive and is subject to change.