Step by Step Guide to Las Vegas Luxury Condo Buying – Part 1

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Las Vegas Luxury Condo Buyer Info – LOCATION

Las Vegas Luxury Condo Buyers have a lot to consider as far as location is concerned.  The Stark Team has witnessed the expansion of The Las Vegas Valley for the past several decades. With this expansion came the Vertical Growth of the high rise condos on and adjacent to the STRIP.  These high rise condos come in two categories: Residential Condos and Hotel Condos. We will save that for  Part 2 of this series.

That said, the Las Vegas Valley is comprised of two cities:  Las Vegas & Henderson. There are a variety of suburban and urban suburban condo and townhouse neighborhoods to explore.

THE STRIP

The photo below is of the pool area of Trump Las Vegas condos which are Hotel Condos.

Trump Tower Las Vegas Pool

Let’s begin with Las Vegas. When we think Vegas we immediately think of  “THE STRIP”.  The Strip is a 4 mile road known as Las Vegas Boulevard.  This is the heart beat of Las Vegas.  It is home to world class hotels, a new Urban Core known as CityCenter – which is in what locals call, “The Harmon Corridor”.  Here you will find the Aria and Bellagio, Cosmopolitan and Planet Hollywood Hotels on the 4 corners of Las Vegas Boulevard & Harmon Ave.  What are your luxury condo buying options here right smack in the middle of the Action? Veer Towers, Vdara, and the Mandarin Oriental in CityCenter, The MGM Signature Hotel Condos which are guard gated and affordable, The Cosmopolitan Condos ( if you can find one on the market – they are rare gems) and The Dean Martin Drive high rises known as Panorama Towers and The Martin.

Tour the Las Vegas & Henderson Luxury Condos CLICK HERE.

 

Mandarin Oriental Residences L Penthouse Living Room

The Las Strip Area Condos are divided into these locations: Downtown, North Strip, Harmon Corridor, and South Strip. At present, January 2017, The Harmon Corridor Condos seem to be the most highly sought after. Downtown, The Ogden, on Fremont Street is actively selling, as is One Las Vegas on the South Strip.  The remaining condos at the high end buildings were both bought by the same entity.  They have arranged for a broad variety of attractive financing options. They also like to keep an ongoing sale velocity and list price sales points. That leaves a variety of Buyer incentives to be negotiated.

Trophy Condo Properties

The penthouses on and near the Strip are considered the epitome of Trophy Properties in Las Vegas real estate.  You can browse them all here:

Click Here to See Las Vegas Penthouses for Sale

 

Mandarin Oriental Residences Las vegas penthouse Dining Room

Vintage Vegas Condos to the East of the Strip 

Off the Strip towards the east, Buyers can choose from a nice variety of older townhouse style condos built in the 1970’s in gated neighborhoods such as Sunrise Villas.  The developers of Sunrise Villas were so successful with their design, that these communities number 1 to 9 followed by Sunrise Villas Lakeside which was one of the first communities to be waterscape.  These are affordably priced from $150K-250k or so.

Spanish Trail Townhomes – Guard Gated Golf Course Living

In the Southwest is the guard gated community of Spanish Trail that was built the mid 1980’s to 1990’s.  This is a lush golf course neighborhood that has several collections of attached town homes and detached maintenance free Villas  – some with pools.  This is a part of Las Vegas where you can be at the Strip ( via Tropicana Avenue) in 12 minutes.

Summerlin

Summerlin spans from the Southwest Valley to the Northwest Valley and has a variety of condos and townhouse scattered through the different villages.  If you are looking for beautiful views, great shopping including the new Downtown Summerlin Mall and Tivoli Village Shopping Centers, local Casino & Hotels such as Red Rock Resort, The SunCoast, and JW Marriott – the condos and townhouse of Summerlin fit the bill.

The 2 Most Luxurious Condo Complexes in the Summerlin Area

Queens ridge Towers Luxury High Rise near Summerlin Las Vegas

Queensridge Towers & Mira Villa are two of the most luxurious guard gated & gated complexes that surround the Angel Park  Badlands Golf Course. The views from the condos in these two neighborhoods are awe inspiring.  You never get tired of looking at the Red Rock Mountains.

Henderson Condos and Townhomes for Sale

Seven Hills, MacDonald Highlands, and Anthem are each home to just a few attached product neighborhoods.  Sun City Anthem Solera, and Sun City MacDonald Ranch have single level townhomes at affordable prices.  Anthem has the age restricted Terra Bella Condos,  MacDonald Highlands has Christopher Homes’ new VU townhomes which are modern and tucked into the hillside of Henderson’s Mccullough Mountains.There is no other luxury townhouse development in Las Vegas like this right now.

Lake Las Vegas

The photo below is of the Vita Bella Town Homes that is a gated Lake Las Vegas North Shore Community overlooking Reflection Bay. HOA dues at Vita Bella are amongst the lowest at the entire resort.  Short term rentals are prohibited here.  There is a 6 month minimum.  Each Townhouse as  2 car attached garage.

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And 17 miles from the Strip is the Lake Las Vegas Resort – with it’s wide collection of condos and townhomes. Real estate in Lake las Vegas is definitely rebounding.  The stats tell the picture.  That said, prices are still 40 cents on the dollar on resales.  There are a variety of new homes for Sale in Lake Las Vegas but no new condo communities.  Condo and townhouse inventory at Lake Las Vegas is shrinking.  We think this is an opportune time to buy a townhouse in the beautiful resort.

There truly is a myriad of different high end condos and townhomes for sale all over the Las Vegas valley.

Consider you lifestyle:  Do you want to have the Strip and all it has to offer outside your door? Would you like a variety of golf courses around you? Do you want to be inside a golf course community?  Are you a hiker? Into boating ( Lake Mead is adjacent to Lake Las Vegas)? Looking for an Age 55+ Community? Is proximity to the Airport important?  UNLV? Is an on site gym and community pool of importance to you?  Do you want a guard gated or gated neighborhood? Which hospitals and schools are close by?

Consider your HOA Dues Cost

High rise condos will have the highest price per square foot cost but you will have perks such as valet parking & driver  service. Condos located in Master plans such as Summerlin, Seven Hills, Sun City Anthem, Lake Las Vegas will have Master HOA dues in addition to the condo or townhome dues.

Consider Price and Ability to Finance

Frame and stucco structures will have a much lower price point than concrete and steel towers.  Condo financing is typically more difficult to acquire.  Some buildings are only financeable by one or two lenders. Townhouse are easily loanable.

I hope the information above helps you understand the different options and some of the locations around the Las Vegas Valley that are available to Buyers as we start the New Year.  Hope yours is a Wonderful One!

Explore All Lake Las Vegas Real Estate Condo and Townhomes MLS Listings Below 

 

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