Area Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

Sept. 1, 2026

Should You Sell Your Las Vegas Home Before the Holidays or Wait Until Spring?

sell-your-home-in-the-fall

As fall approaches in Las Vegas, many homeowners who are thinking about selling face the same question: Should I put my home on the market before the holidays, or wait until spring?

Spring has traditionally been considered a popular time to sell a home, but that doesn’t necessarily mean waiting is the best decision. In fact, listing your Las Vegas home during the fall and early winter can offer some advantages that sellers often overlook.

The right answer depends on your home, your neighborhood, your reason for selling, and—most importantly—what the current market looks like.

1. There May Be Less Competition in the Fall

One of the biggest advantages of selling before the holidays is potentially having fewer homes competing for buyers' attention.

Many homeowners decide to wait until spring to list. That can create an opportunity for sellers who enter the market earlier.

When buyers have fewer comparable homes to choose from, a well-priced and beautifully presented property may have an easier time standing out.

This can be especially important in Las Vegas communities where buyers are comparing several similar floorplans, neighborhoods or new-construction options.

2. Fall Buyers May Be More Motivated

People touring homes during the holidays generally aren't doing it because they have nothing else to do.

They may be relocating to Las Vegas, starting a new job, experiencing a change in their household, trying to purchase before the end of the year or simply ready to make a move.

While there may be fewer buyers than during peak periods, the buyers who are actively searching can be serious about purchasing.

And sometimes, quality of buyer activity matters more than quantity.

3. Las Vegas Doesn't Have a Traditional Winter

This is one area where Las Vegas sellers have an advantage over homeowners in many other parts of the country.

We aren't typically dealing with months of snow-covered roofs, frozen landscaping and icy driveways.

Our mild fall and winter weather can make it much easier for buyers to continue touring properties.

Fall can also be a beautiful time to showcase outdoor living areas, pools, patios and desert landscaping without the extreme summer heat.

4. Waiting Until Spring Could Mean More Competition

If you're thinking, "I'll just wait until spring when there are more buyers," remember that there may also be more sellers.

When more homes hit the market, buyers have additional choices.

Your home may be competing against properties with similar square footage, upgrades, locations and price points.

That's why I don't automatically recommend waiting for a particular season. I prefer to look at what's happening in the specific neighborhood and price range where the home is located.

5. Pricing Matters More Than the Season

Whether you sell in October, December or March, pricing is going to play a major role in your results.

Today's buyers have access to an enormous amount of information online. They can quickly compare your home to competing properties, recent sales, price reductions and new listings.

Starting too high with the idea that you can "always reduce it later" can sometimes work against you.

The first few weeks of a listing are important because that's when the home is fresh to the market.

My goal is to position a property so buyers see its value from the beginning.

6. Marketing Becomes Even More Important

If you're selling during a season with fewer buyers, your home needs to make a strong first impression.

That starts online.

Professional photography, staging, compelling property descriptions, video, social media exposure and strategic online marketing can help your home stand out from competing listings.

And if a listing isn't getting the activity we expected, I believe in looking beyond price alone.

Sometimes the solution is repositioning the home, improving the photography, changing the presentation, offering an attractive buyer incentive or finding a new way to tell the home's story.

7. Don't Forget About New Construction Competition

Las Vegas sellers aren't only competing against other resale homes.

Depending on the neighborhood and price range, you may also be competing with home builders offering incentives to buyers.

That makes it especially important to understand what buyers can purchase nearby—and what incentives may be influencing their decisions.

A resale home may offer advantages a new home doesn't, including an established neighborhood, mature landscaping, window coverings, completed backyards, pools, upgraded interiors or a location closer to established amenities.

Those advantages need to be marketed properly.

8. The Holidays Can Actually Help Your Home Feel Inviting

There's something naturally welcoming about a home during the fall and holiday season.

Tasteful seasonal décor, warm lighting and comfortable living spaces can help buyers imagine themselves living in the home.

The key word is tasteful.

You still want buyers to notice the home's features—not be distracted by decorations.

Keep décor simple and make sure rooms continue to look spacious, bright and inviting in your listing photos and showings.

So, Should You Sell Now or Wait Until Spring?

There's no universal answer.

Selling before the holidays may make sense if:

  • You want to take advantage of potentially lower listing competition.
  • Your home is ready to show well now.
  • There are motivated buyers searching in your price range.
  • You would like to complete your move sooner rather than later.
  • Your neighborhood currently has limited competing inventory.

Waiting until spring may make sense if:

  • Your home needs significant repairs or improvements before listing.
  • Your personal timeline makes a spring move easier.
  • Current conditions in your specific neighborhood or price range aren't favorable.
  • Preparing the property properly now would require rushing the process.

The important thing is not to base a major financial decision on the assumption that "spring is always better."

Real estate is local, and even within the Las Vegas Valley, market conditions can vary considerably from one neighborhood and price range to another.

Thinking About Selling Your Las Vegas Home?

Before deciding whether to sell this fall or wait until spring, I can help you look at the numbers.

We'll review recent sales, current competition, pricing trends and what buyers are doing in your specific area. From there, we can determine whether listing before the holidays—or waiting—makes the most sense for you.

Lori Galarza
Broker/Owner | RE/MAX CENTRAL
Las Vegas, Nevada

Thinking about selling? Let's start with a conversation about your home's value and the best timing for your move.

Posted in Market Updates
Aug. 18, 2026

Las Vegas Market Update

Las Vegs Market Update

The market is showing signs of becoming a little more balanced. The median price for a single-family home dipped to about $480,000 in July, down from $490,000 in June.

At the same time, inventory has been increasing, which means buyers have more choices and more negotiating power than they did earlier this year.

But homes are still selling! More than half of single-family homes are going under contract within the first 30 days.

For sellers, this means pricing your home correctly from the beginning is more important than ever. Buyers are watching the market closely and comparing their options.

For buyers, this could be a great time to negotiate on price, closing costs, or other seller concessions.

If you’re thinking about buying or selling in Las Vegas, reach out to me. I’m Lori Galarza with RE/MAX CENTRAL, and I’d love to help you make your next move!

Posted in Market Updates
Aug. 11, 2026

5 Things Las Vegas Home Buyers Can Negotiate in Today’s Market

5ThingsBuyerCanNegotiate

If you're thinking about buying a home in Las Vegas, here's something many buyers don't realize: the asking price isn't the only thing you can negotiate.

In a market where buyers may have more choices and some homes are taking longer to sell, the right offer can sometimes include terms that save you thousands of dollars—or simply make buying your next home easier.

Every property and seller is different, but here are five things Las Vegas home buyers should consider negotiating in today's market.

1. The Purchase Price

Let's start with the obvious one—the price.

A home's list price is what the seller is asking, but that doesn't necessarily mean it's what you have to pay.

How much negotiating room you have can depend on several factors, including:

  • How long the property has been on the market
  • Recent comparable sales
  • Previous price reductions
  • The home's condition
  • Competition from other buyers
  • The seller's motivation

A home that's newly listed and attracting multiple offers requires a very different strategy from one that's been sitting on the market.

The goal isn't simply to make the lowest offer possible. It's to negotiate the best overall deal without losing the home you want.

2. Seller-Paid Closing Costs

Instead of focusing entirely on lowering the purchase price, buyers may be able to negotiate a seller credit toward allowable closing costs, subject to loan-program and lender limits.

Closing costs can include expenses such as lender fees, title-related charges, prepaid taxes and insurance, and other costs associated with purchasing the property.

For buyers trying to preserve cash for moving expenses, furniture, improvements, or an emergency fund, negotiating a seller contribution can sometimes be more valuable than getting a small reduction in the sales price.

3. Mortgage Rate Buydowns

Your interest rate can have a significant impact on your monthly payment, which is why rate buydowns have become an important negotiating tool.

Depending on the transaction and financing, a buyer may negotiate a seller credit that can be applied toward an eligible temporary or permanent interest-rate buydown.

For example, instead of asking a seller for another price reduction, it may make more sense to ask for a credit that helps reduce your financing costs.

Before structuring an offer this way, talk with your lender so you understand what's permitted with your specific loan and how much the credit could actually save you.

4. Repairs—or a Credit Instead

The home inspection can uncover issues ranging from minor maintenance items to more significant concerns.

Depending on the contract, property, and circumstances, buyers may have an opportunity to negotiate repairs.

But having the seller complete every repair isn't always the best solution.

Sometimes it may make more sense to negotiate an appropriate credit or other concession, when permitted, and have the work completed after closing using contractors you choose.

This is one area where having an experienced real estate professional can be especially valuable. You want to know which issues are worth negotiating and which ones aren't worth jeopardizing the transaction over.

5. The Terms of the Sale

Price gets most of the attention, but terms can be just as important.

Depending on what matters to the seller, buyers may be able to negotiate things such as:

  • Closing date
  • Possession date
  • Certain appliances or personal property
  • Home warranty
  • Seller concessions
  • Other transaction-specific terms

This is also where understanding the seller's priorities can give a buyer an advantage.

Sometimes the strongest offer isn't the one with the highest price. It's the offer that solves a problem for the seller while still protecting the buyer's interests.

The Las Vegas Market Can Create Opportunities for Prepared Buyers

Buying a home isn't just about finding the right property. It's also about structuring the right offer.

When I work with buyers, I look at the entire transaction—not just the asking price. I want to know how long the home has been available, what's happening with comparable properties, whether the seller has already reduced the price, and where there may be opportunities to negotiate.

That can be particularly important in a changing Las Vegas real estate market.

Thinking About Buying a Home in Las Vegas?

Whether you're a first-time home buyer, relocating to Las Vegas, considering new construction, or simply looking for your next home, having an experienced REALTOR® representing you can make a big difference.

Before you make an offer, let's talk about the property and determine what may be negotiable and how to structure an offer that works in your favor.

Lori Galarza
Broker/Owner & REALTOR®
RE/MAX CENTRAL – Las Vegas
Nevada Real Estate Broker License B.1001422

Posted in Market Updates
Aug. 5, 2026

The 3 Home Features Helping Las Vegas Homes Sell Fast in 2026

 

selling-las-vegas-homes-fast

As the Las Vegas real estate market continues to evolve in 2026, one thing has become clear: buyers are becoming more selective. While pricing remains one of the biggest factors in how quickly a home sells, certain features are causing homes to attract multiple offers almost immediately.

If you're thinking about selling your home, these are the three features buyers are actively searching for—and the ones helping homes stand out from the competition.

1. Move-In Ready Homes

Today's buyers want convenience.

With higher costs for renovations, furniture, and home improvement projects, many buyers are looking for homes they can move into without spending additional money.

Homes that sell the fastest often include:

  • Fresh interior paint
  • Updated flooring
  • Modern kitchens with quartz or granite countertops
  • Renovated bathrooms
  • New lighting fixtures
  • Energy-efficient appliances

Even smaller updates can dramatically improve your home's appeal and shorten the time it spends on the market.

Seller Tip: You don't always need a full remodel. Strategic cosmetic improvements often deliver an excellent return on investment.


2. Outdoor Living Spaces

Las Vegas homeowners know how much time we spend enjoying our outdoor spaces, and buyers do too.

A well-designed backyard has become one of the biggest selling points in today's market.

Popular outdoor features include:

  • Covered patios
  • Low-maintenance landscaping
  • Artificial turf
  • Outdoor kitchens or BBQ areas
  • Fire pits
  • Swimming pools and spas
  • Mountain or Strip views

Buyers are imagining themselves entertaining family and friends, and an inviting backyard helps them connect emotionally with the home.


3. Energy Efficiency & Smart Home Technology

With utility costs remaining an important consideration, buyers are placing greater value on homes that help reduce monthly expenses.

Highly desirable features include:

  • Solar panels
  • Smart thermostats
  • New HVAC systems
  • Energy-efficient windows
  • Tankless water heaters
  • EV charging stations
  • Smart security systems
  • Smart lighting and door locks

These upgrades not only provide convenience but can also lower ongoing ownership costs—making them attractive to today's buyers.


Bonus Feature: Functional Floor Plans

One trend that's continued into 2026 is the demand for flexible living spaces.

Buyers love homes with:

  • Home offices
  • Loft or bonus rooms
  • Multi-generational living options
  • Downstairs bedrooms
  • Open-concept kitchens and living areas

Homes that offer flexibility for work, family, and entertaining continue to outperform many competing properties.


What This Means for Las Vegas Sellers

If your home doesn't have every one of these features, don't worry.

The right pricing strategy, professional marketing, high-quality photography, and expert negotiation still play the biggest role in getting top dollar.

Before investing thousands of dollars into renovations, it's worth talking with a local real estate professional to determine which improvements will provide the highest return in your specific neighborhood.

At RE/MAX CENTRAL, I help homeowners identify the upgrades that matter most, develop a pricing strategy based on today's market conditions, and create customized marketing that attracts serious buyers from day one.

If you're curious what buyers are looking for in your neighborhood—or wondering what your home could sell for in today's market—I'd be happy to help.

Thinking about selling your Las Vegas home?

Contact Lori Galarza, Broker/Owner with RE/MAX CENTRAL, for a complimentary home value consultation and personalized selling strategy.

Posted in Market Updates
July 30, 2026

Why Home Performance Is Becoming Part of How Buyers Evaluate Value

Buying -a-Home-Based-on-Performance

For years, home buyers focused on the traditional checklist: location, price, square footage, and the number of bedrooms and bathrooms. While those factors remain important, today's buyers are asking a new question:

"How well does this home actually perform?"

As utility costs rise and buyers become more informed, home performance is becoming a key factor in determining a property's overall value. In Las Vegas, where summer temperatures regularly exceed 100 degrees, a home's ability to stay comfortable and operate efficiently can have a significant impact on monthly expenses and long-term satisfaction.

What Is Home Performance?

Home performance refers to how efficiently and comfortably a home functions. Instead of focusing solely on appearance, buyers are looking at features that affect everyday living, including:

  • Energy-efficient windows
  • Quality insulation
  • Modern HVAC systems
  • Smart thermostats
  • Energy-saving appliances
  • LED lighting
  • Water-efficient fixtures
  • Solar energy systems
  • Air sealing and ventilation
  • Roof condition and heat-reflective materials

These features can reduce operating costs while making a home more comfortable throughout the year.

Lower Monthly Costs Matter More Than Ever

Many buyers are carefully calculating their total monthly housing costs—not just their mortgage payment.

A home with lower utility bills may be more attractive than a similar home with a slightly lower purchase price but significantly higher operating expenses.

In Las Vegas, efficient cooling systems, well-insulated attics, and energy-efficient windows can make a noticeable difference during the hottest months of the year.

Comfort Is a Selling Feature

Buyers aren't just looking for beautiful homes—they're looking for homes that feel comfortable every day.

Questions buyers often ask include:

  • Does the upstairs stay cool?
  • Are there rooms with hot or cold spots?
  • Is the HVAC system newer?
  • Are the windows energy efficient?
  • Is the home drafty?

A home that maintains consistent temperatures throughout the year often creates a better showing experience and leaves a lasting impression.

Buyers Appreciate Smart Technology

Smart home features are becoming increasingly popular because they provide both convenience and efficiency.

Popular upgrades include:

  • Smart thermostats
  • Video doorbells
  • Smart locks
  • Smart irrigation systems
  • Energy monitoring systems
  • Automated lighting

These features can help homeowners reduce energy usage while making everyday life easier.

Energy Efficiency Can Increase Buyer Interest

Although cosmetic updates like fresh paint and remodeled kitchens still matter, many buyers are willing to pay more for a home that offers lower ongoing maintenance and utility costs.

Features that often attract attention include:

  • Recently replaced HVAC systems
  • Dual- or triple-pane windows
  • Solar panels (especially if owned)
  • Additional attic insulation
  • Tankless water heaters
  • ENERGY STAR® appliances

These improvements can help a property stand out in a competitive market.

What Sellers Can Do Before Listing

If you're preparing to sell your home, highlighting performance upgrades can add value to your marketing.

Consider gathering documentation for:

  • HVAC replacement dates
  • Roof replacement
  • Window upgrades
  • Solar system information
  • Smart home features
  • Utility-saving improvements
  • Recent maintenance records

Buyers appreciate knowing that a home has been well maintained.

The Bottom Line

Today's buyers are looking beyond finishes and floor plans. They want homes that are comfortable, efficient, and affordable to own over the long term.

If you're thinking about selling, showcasing your home's performance features can help it stand out and appeal to today's value-conscious buyers. And if you're buying, considering home performance alongside location and price can help you make a smarter investment for years to come.

Whether you're buying your first home, upgrading, or preparing to sell in the Las Vegas Valley, understanding what today's buyers value can give you a competitive advantage.

Thinking about buying or selling a home in Las Vegas?

I can help you understand which features buyers are looking for today and how to position your home to maximize its value. Whether you're searching for an energy-efficient home or preparing your property for the market, I'm here to guide you every step of the way.

 

Contact Lori Galarza, Broker/Owner, REALTOR® at RE/MAX CENTRAL or start your home search today at SearchVegasHomes.com and 702-277-7764.

Posted in Market Updates
July 27, 2026

Las Vegas Real Estate Market Update: Is Now the Right Time to Buy or Sell?

If you've been watching the Las Vegas real estate market, you've probably noticed that conditions have shifted over the past several months. Buyers have more homes to choose from than they did a year ago, while sellers who price their homes correctly are still finding motivated buyers.

So what does that mean if you're planning to make a move?

Inventory Is Improving

One of the biggest changes in today's market is the increase in available homes. More inventory gives buyers additional choices and reduces some of the pressure that existed during the highly competitive seller's market.

This doesn't mean homes aren't selling—it simply means buyers have more opportunities to compare properties and negotiate favorable terms.

Home Prices Remain Stable

Despite higher inventory, Las Vegas home values have remained relatively resilient. Well-maintained, move-in-ready homes that are priced correctly continue to attract strong interest.

Sellers who invest in professional photography, staging, and strategic online marketing often receive the most attention from today's buyers.

Interest Rates Continue to Influence Buyers

Mortgage rates remain an important factor in affordability. While rates are higher than many buyers became accustomed to a few years ago, they're also encouraging more balanced negotiations between buyers and sellers.

Many buyers are taking advantage of builder incentives, seller concessions, and rate buy-down programs to reduce their monthly payments.

Opportunities for Buyers

Today's buyers enjoy several advantages:

  • More homes to choose from
  • Greater negotiating power
  • Fewer bidding wars
  • More opportunities for closing cost assistance
  • Time to make informed decisions

For first-time buyers especially, today's market may actually provide better opportunities than the highly competitive markets of recent years.

Opportunities for Sellers

If you're thinking about selling, don't assume the market has slowed too much.

Homes that are:

  • Professionally marketed
  • Properly staged
  • Accurately priced
  • Presented with high-quality photography and video

continue to attract qualified buyers.

Many homeowners have also built significant equity over the past several years, creating excellent opportunities to move up, downsize, or relocate.

My Advice

Whether you're buying your first home, moving across town, or preparing to sell, every real estate decision should be based on your personal goals—not just the headlines.

The Las Vegas market continues to offer opportunities for both buyers and sellers, but having the right strategy can make a significant difference in your results.

If you're curious about your home's current value, want to explore available homes, or simply have questions about today's market, I'd be happy to help.

Visit SearchVegasHomes.com to search every listing updated directly from the MLS, view neighborhood market reports, or request a free home valuation.

Thinking about buying or selling in Las Vegas?

Let's talk about your goals and create a strategy that's right for you.

Posted in Market Updates
July 20, 2026

Can I Afford to Buy a Home Right Now?

This is one of the most common real estate questions buyers ask—and for good reason. Determining whether you can afford to buy a home involves much more than just qualifying for a mortgage. You'll want to consider your monthly budget, down payment, closing costs, ongoing maintenance expenses, and your long-term financial goals.

A good starting point is understanding how much home fits comfortably within your budget rather than simply borrowing the maximum amount a lender approves. Factors such as your income, debts, credit score, interest rates, homeowners insurance, property taxes, and HOA fees all affect your monthly payment.

If you're considering buying in the Las Vegas area, it's also important to compare today's mortgage payment with local rental costs and evaluate how long you plan to stay in the home. For many buyers, homeownership can build equity over time, while renting may offer greater flexibility depending on their circumstances.

The best way to determine if you're ready is to speak with a trusted local REALTOR® and a knowledgeable lender who can review your financial situation and help you understand your options. Feel Free to reach out to trusted RE/MAX Broker and REALTOR® Lori Galarza, 702-277-7764 & Lori@VegasRealtor.com.  Whether you're a first-time buyer or planning your next move, having a clear picture of your budget can help you shop confidently and avoid surprises.

Posted in Market Updates
July 6, 2026

Is Now a Good Time to Buy a Home in Las Vegas? Here's What Buyers Need to Know This Summer


If you're thinking about buying a home in Las Vegas this summer, you're probably asking the same question many buyers are: Is now a good time to buy?

While no one can perfectly predict the real estate market, today's Las Vegas housing market offers several advantages that buyers may not have seen in recent years. More inventory, greater negotiating power, and increased seller flexibility are creating opportunities for buyers who are prepared and informed.

More Homes Mean More Choices

One of the biggest benefits of buying this summer is the increased selection of homes for sale throughout the Las Vegas Valley.

Whether you're searching in Summerlin, Henderson, Centennial Hills, Southwest Las Vegas, North Las Vegas, or Green Valley, buyers have more options to compare than they did during the highly competitive seller's market of previous years.

More inventory means you're less likely to feel pressured into making a rushed decision and have a better chance of finding a home that truly fits your needs and budget.

Buyers Have More Negotiating Power

In today's market, many sellers understand that buyers have choices.

Depending on the property and local market conditions, buyers may be able to negotiate:

  • Seller-paid closing costs
  • Mortgage rate buydowns
  • Home repairs
  • Price reductions
  • Flexible closing dates
  • Included appliances or other personal property

Not every home will offer these opportunities, especially highly desirable properties that are priced competitively, but many sellers are willing to negotiate with serious buyers.

Mortgage Rates Still Matter

Interest rates continue to play an important role in affordability. While rates may be higher than the historic lows seen a few years ago, buyers should remember that you can often refinance your mortgage if rates decline in the future—but you can't go back and purchase today's home at yesterday's price.

Waiting for lower rates can also mean facing increased competition if more buyers return to the market at the same time.

The best time to buy is often when you're financially ready and find the right home for your lifestyle.

Las Vegas Continues to Attract New Residents

Las Vegas remains one of the nation's most popular relocation destinations thanks to:

  • No state income tax
  • A diverse economy
  • Expanding employment opportunities
  • World-class entertainment and dining
  • Outdoor recreation near Red Rock Canyon, Lake Mead, and Mount Charleston
  • Master-planned communities offering amenities for every lifestyle

Continued population growth helps support long-term housing demand throughout Southern Nevada.

New Construction Offers Additional Incentives

If you're considering a newly built home, many builders continue to offer attractive incentives that may include:

  • Interest rate buydowns
  • Closing cost assistance
  • Design center credits
  • Appliance packages
  • Reduced lot premiums
  • Quick move-in homes

Working with your own REALTOR® when purchasing new construction helps ensure your interests are represented throughout the buying process.

Buying Now vs. Waiting

Every buyer's situation is different, but here are a few reasons why purchasing this summer may make sense:

  • More homes are available.
  • Sellers may be more flexible.
  • Negotiation opportunities are stronger than in recent years.
  • You can begin building equity instead of continuing to rent.
  • If interest rates improve later, refinancing may be an option.

Rather than trying to perfectly time the market, focus on buying a home that fits your financial goals and long-term plans.

Tips for Summer Home Buyers

Before beginning your home search, consider these important steps:

  1. Get pre-approved for a mortgage.
  2. Determine your monthly budget.
  3. Make a list of your "must-have" features.
  4. Research neighborhoods that fit your lifestyle.
  5. Work with an experienced local REALTOR® who understands the Las Vegas market.

Being prepared allows you to move quickly when the right home becomes available.

Let Me Help You Find the Right Home

Whether you're a first-time buyer, relocating to Las Vegas, purchasing a luxury home, or looking for an investment property, I'm here to guide you through every step of the process.

As the Broker/Owner of RE/MAX CENTRAL, I've been helping buyers and sellers throughout the Las Vegas Valley for more than 18 years. My goal is to provide honest advice, local market expertise, and personalized service so you can make confident real estate decisions.

Ready to start your home search?

Browse the latest Las Vegas homes for sale on SearchVegasHomes.com, save your favorite properties, sign up for instant listing alerts, or contact me to schedule a private consultation. I'd love the opportunity to help you find your next home.

Posted in Market Updates
May 27, 2020

Las Vegas Real Estate and Siegfried and Roy

By Eli Segall Las Vegas Review-Journal

May 25, 2020 - 7:46 am

  

Siegfried & Roy wowed audiences on the Strip for years with magic and white tigers, becoming synonymous with Las Vegas’ over-the-top entertainment scene.

After their run ended, they also made millions in one of Southern Nevada’s other favorite pastimes: real estate.

Siegfried Fischbacher and Roy Horn, who died in Las Vegas this month at age 75 of complications from COVID-19, the respiratory disease caused by the new coronavirus, sold land over the years to two homebuilders. Their projects are now alongside the famed duo’s compound at Rancho Drive and Rainbow Boulevard.

D.R. Horton bought a parcel from them in 2006 for more than $6.7 million, and KB Home picked one up early last year for $5.25 million, records show.

The developers launched typical Vegas housing tracts, albeit with names in honor of the performers’ German roots, big cats and longtime venue on the Strip.

D.R.’s project, Bavaria Estates, features such streets as White Tiger Court, Tigers Lair Court and Mirage Garden Street. KB’s subdivision, now under construction, is called Mirage Landings.

Shona Sheffey, who lives on Tigers Lair Court in Bavaria Estates, said people get a kick out of her street name.

“We always thought it was pretty cool,” she said.

Robert Reale, who also lives on Tigers Lair, said the proximity to the entertainers’ compound is a “conversation point, if nothing else.”

Bavaria Estates is a nice development, and good people live there, Reale said. But overall, it’s nothing unique.

“It’s like any other subdivision that we’ve lived in,” he said.

KB did not deal directly with the entertainers and was drawn to the parcel in part because the area “offers a high level of affordability not seen in some other submarkets,” spokesman Craig LeMessurier said.

Prices at the project start in the $270,000-range, he said.

D.R. Horton did not respond to a request for comment for this story.

Dave Kirvin, a representative for the entertainers, said Fischbacher was not available for interviews, and “there is no one to comment on this.”

Siegfried and Roy, who met on a cruise liner in 1957, arrived in Las Vegas in 1967 as a specialty act at the Tropicana. After performing at other hotels on the Strip, they made their debut at The Mirage in 1990.

Their $30 million production “sold out every night from the first night to the last,” Fischbacher once said.

The run came to a violent end in 2003 when a white tiger dragged Horn offstage during a show, crushing his windpipe, damaging an artery and leaving him on life support, the New York Times reported.

He spent years in physical therapy but also “traveled the world, visited his animals daily and could be seen attending shows and philanthropic events in Las Vegas,” said the release announcing his death May 8.

Even though the entertainers had a glitzy career on the Strip, the Bavaria Estates subdivision near their compound is still just that — a subdivision.

“It’s real quiet,” Sheffey said.

Contact Eli Segall at esegall@reviewjournal.com or 702-383-0342. Follow @eli_segall on Twitter.

 

 

Posted in Market Updates
May 24, 2020

Update on Las Vegas Casinos Opening!

Casinos ready to open doors, tourists ready to return to Las Vegas

A bus stops outside of the MGM Grand in Las Vegas on Monday, March 16, 2020. (Chase Stevens/Las ...

A bus stops outside of the MGM Grand in Las Vegas on Monday, March 16, 2020. (Chase Stevens/Las Vegas Review-Journal) @csstevensphoto

By Bailey Schulz and Richard N. Velotta Las Vegas Review-Journal

May 23, 2020 - 6:48 am

 

The two-month casino shutdown in Nevada seems to have an end in sight.

On Friday afternoon, Gov. Steve Sisolak gave Nevada casinos a tentative date they could plan to reopen: June 4. Seventy-eight days after casinos first closed down to help stem the spread of COVID-19.

The move comes as the state has faced an increasing amount of pressure to reopen; Nevada’s unemployment rate hit record highs in April, and casinos in 12 other states had opened their doors ahead of those in Sin City.

 

Virginia Valentine, president and CEO of the Nevada Resort Association, said Sisolak’s announcement is “fantastic news” for Nevada’s gaming industry.

“Our members have spent more than two months preparing for this day,” she said in an emailed statement. “They’ve put in place enhanced health and safety plans and protocols … Our members are excited to show off the enhancements they’ve made that preserve the experience while ensuring the well-being of our employees and visitors.”

‘We’re ready to go back’

Casinos have been preparing for this day for weeks, publishing updated health and safety guidelines and setting tentative booking dates online to make sure they’d have guests ready to fill rooms.

“It’s been a long two months for us. It’s been a long two months for everyone in the state, but we’re ready to go back to business in Nevada,” said Boyd Gaming Corp. spokesman David Strow.

Strow said the company would release more details on how many of its 12 Nevada casinos would be reopening on June 4 after the Nevada Gaming Control Board meeting workshop meeting, which will provide further insights on health and safety when six experts address the three-member board in a videoconference.

Testimony from experts from both ends of the state could lead to further actions by the board that day.

Wynn Resorts Ltd. spokesman Michael Weaver said the company looks forward to working with regulators as it moves toward reopening.

“We applaud Governor Sisolak for his decision to target June 4 for opening resorts,” he said via email. “Because of his careful, science-based approach to containing the virus, Nevada is now ready to open its economy and get people working again.”

Caesars Entertainment Corp. spokesman Richard Broom said the company plans to reopen properties on June 4, “per the governor’s order.”

“We are excited to welcome back guests and team members with enhanced health and safety protocols in compliance with state directives,” he said via email.

Spokespeople for Las Vegas Sands Corp., Station Casinos and MGM Resorts International declined to comment.

Tourists ready to return

Virginia Allegra from Fresno, California, said she plans to visit Las Vegas soon after it reopens; she’s already had to rebook six reservations with MGM Resorts as tentative booking dates were pushed back.

On Friday, she booked a three-week stay in June and July, with plans to stay at a new hotel each week.

“I wish they would have opened sooner!” she said via email.

Joann Woodward, a nurse practitioner working in Downey, California, said she plans to go back in the middle or end of June, to give the casino operators time to “practice” their new health and safety guidelines.

She added that she feels “pretty safe” in casinos.

“I’m a nurse practitioner, I already wash my hands 40, 50 times a day,” she said. “I’m not going to shake hands with anybody or hug them.”

Others, like Ryan Cisneros from Texas, want to wait until Las Vegas properties end social distancing protocols at table games and pools before returning.

“Vegas is all about social interactions, especially at the blackjack table,” he said. “I typically go to Vegas two to three times a year, but until everything is normal regarding the social distancing aspect, (I) would rather just wait or go somewhere else.”

Steve Hill, president and CEO of the Las Vegas Convention and Visitors Authority, said employees and guests should feel confident returning to casinos, pointing to resorts’ public health and safety plans.

“I know that our state, county and health leaders together with our resort partners have taken every necessary step and precaution to ensure a safe and sustained opening,” Hill said in an emailed statement.

All eyes on the Gaming Control Board

On Thursday afternoon, Sisolak named June 4 as the Nevada’s gaming industry’s reopening target date, “pending the evaluation of trends in Nevada’s COVID-19 data, along with the results of the Gaming Control Board Meeting on Tuesday.”

“The attention now turns to the Nevada Gaming Control Board workshop,” said Josh Swissman, founding partner of The Strategy Organization, a marketing consultant in Las Vegas. “This workshop, coupled with continued positive trending COVID-19 data, should provide the governor with everything he needs to stand firm on his June 4 date.”

If the reopening date holds, casinos would still roughly two weeks prepare to reopen.

That should be “sufficient time” for casinos to mobilize their workforce and begin sending out promotions, according to Josh Swissman, founding partner of The Strategy Organization, a marketing consultant in Las Vegas.

“Casino companies targeting an opening date on the 4th have had ample (time) to plan for this moment,” he said via email. “I suspect many casino executives will be working overtime throughout the long weekend to make that happen, though. It is ‘game on’ for marketing executives that have been spending the last few weeks figuring out the best time to fire up their promotional engines.”

He expects to see a “steady stream” of email updates, offer postcards and social media posts from casinos over the coming days.

Brendan Bussmann, director of government affairs for Las Vegas-based Global Market Advisors LLC, said the June 4 date “finally provides us with hopefully an end to the fuzzy phasing we’ve had to get the state’s leading industry back on its feet.”

“It’ll be good to see the energy and the jobs and the life come back to the Strip, even under these unusual circumstances,” he said.

Sisolak’s announcement came hours after the tourism-dependent state reported a 28.2 percent unemployment rate, the highest of any state in any month since 1976, when consistent data first became available.

The number was shocking, even to local economists.

“I don’t think anyone was expecting that level,” said Stephen Miller, director of UNLV’s Center for Business and Economic Research.

Economist Jeremy Aguero of Applied Analysis said bringing Nevada’s largest industry back to life could help the state economy begin to recover.

“It’s an important first step in pushing our economy forward, getting our economy back to where it was previously,” Aguero said. “There’s a great deal of uncertainty, but we’re taking steps to open all facets of our economy, and that’s exactly what needs to be done.”

While the reopening could allow thousands of Nevadans to return to work, Miller said it’ll have to be “done successfully” to avoid a second wave of the virus.

“The governor is in a tough position,” he said. “(You’re facing) two issues: One is a public health issue, the other is an economic issue. If you try to solve one issue, you could make the other potentially worse.”

But Aguero said the reopening date is an “excellent sign” that there is continued progress in the fight against COVID-19.

“The governor has indicated his decisions are based on science, and he feels comfortable that the science is indicating it’s safe for us to reopen,” he said. “There’s no doubt this is an excellent sign people will go back to work. … (But) like expectations that it’ll take the tourism industry time to ramp up, it’ll take time for employees to come back online.”

The Review-Journal is owned by the family of Las Vegas Sands Corp. Chairman and CEO Sheldon Adelson.

Contact Bailey Schulz at bschulz@reviewjournal.com or 702-383-0233. Follow @bailey_schulz on Twitter. Contact Richard N. Velotta at rvelotta@reviewjournal.com or 702-477-3893. Follow @RickVelotta on Twitter.

 

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