Breaking News: Harmon Hotel & Spa Eliminates Residential Component

After months of speculation, MGM Mirage has decided to eliminate the residential element from the Harmon Hotel, Spa & Residences (now known as the Harmon Hotel & Spa). Construction issues and lack of residential sales throughout the entire CityCenter project has helped in making the decision to change the scope of the project.

The Harmon is the blue tower to the front right

A press release issued by MGM Mirage this morning (January 7, 2009), had this to say for the 88 units under contract at the Harmon:

The Harmon as developed would have had approximately 200 residential units, of which 88 are under contract to be sold. Purchasers will be entitled to receive refunds of their deposits, but will be given the opportunity to purchase units at the Residences at Mandarin Oriental Las Vegas, Vdara and Veer Towers.

Construction of the Harmon Hotel & Spa also appears to be delayed by one year, however the other spectacular components of CityCenter, Aria Resort & Casino, Veer Towers, Mandarin Oriental Hotel & Residences and Vdara all appear to be on schedule to be fully open by the end of December of this year.

Stay tuned to the Prime Real Estate Las Vegas.com Blog for further developments.

Full Press Release: CityCenter Announces Scope Changes

Mike Dobranski, REALTOR®
Keller Williams Realty – The Marketplace
Las Vegas / Henderson, NV

Phone: 702-370-3521
E-Mail: Mike@PrimeRealEstateLasVegas.com
Web: http://www.PrimeRealEstateLasVegas.com

The information contained in this blog is often considered time-sensitive and/or can change without notice, and should be treated as such. The opinions of this blog are solely that of the author, and do not reflect the opinion of Keller Williams Realty.

Le Cirque: A Table In Heaven

Tiger Woods hits golf balls, Yo-Yo Ma plays the cello and Sirio Maccioni develops restaurants. Developing and running what many considered to be the greatest restaurant in the world, Le Cirque, the Maccioni family is the highlight of HBO Films latest documentary, Le Cirque: A Table In Heaven.

Sirio Maccioni

This fun, yet poignant film documents the December 31, 2004 closing of the second incarnation of Maccioni’s masterpiece, Le Cirque 2000 in the Palace Hotel in New York City, and the development and opening of the new home for Le Cirque across town in the Bloomberg Building. In addition to that, we get some insight as to how Sirio rose from being a bus boy to one of the most respected restaurateurs in the world.

At the heart of the documentary is the ongoing struggle every businessperson faces; how many traditional methods should be sacrificed for progressive evolution. Deeply rooted in the traditional ways, Sirio wanted the food and the service that made Le Cirque the respected name that it is in the first place to continue to be the main attraction. His sons, Mario, Marco and Mauro, however, want to get the restaurant back on the cutting edge which means offering more progressive menu items and relaxing the dress code a bit. The dilemma of sacrificing service to improve the bottom line comes up in several aspects of developing the restaurant concept, just as it does for any trade that any businessperson pursues. Being able to see the inner workings of these decisions was both educational and entertaining at the same time, and I highly recommend you watch the documentary to see what happens.

Le Cirque Logo

Luckily for us living in the Las Vegas / Henderson area, the Maccioni family has extended its brand and brought out both their Le Cirque and Osteria del Circo (both found in the Bellagio resort) concepts which continually receive rave reviews and are certainly in the upper echelon of restaurant offerings Las Vegas has. Considering how many extraordinary restaurants we have in Las Vegas, that is saying a lot!

With the great success the Maccioni family has seen in Las Vegas, as a new restaurant is being developed to open in the new ARIA Resort and Casino that is slated to open in late 2009. Currently slated to offer traditional Tuscan cuisine, Maccioni’s new restaurant will surely be a huge hit on The Las Vegas Strip!

Mike Dobranski, REALTOR®
Keller Williams Realty – The Marketplace
Las Vegas / Henderson, NV

Phone: 702-370-3521
E-Mail: Mike@PrimeRealEstateLasVegas.com
Web: http://www.PrimeRealEstateLasVegas.com

The information contained in this blog is often considered time-sensitive and/or can change without notice, and should be treated as such. The opinions of this blog are solely that of the author, and do not reflect the opinion of Keller Williams Realty.

A Happy Festivus Wish To All!

To all of our friends and family;

May you and your loved ones have a wonderful Holiday Season and a happy, healthy and prosperous New Year! Here’s to having the moments to celebrate what we have and the burning desire to strive for what we want. May your Airing of Grievances be brief and your Feats of Strength be plentiful!

With warm wishes,
Mike, Kerry and Boomer Dobranski

Boomer the Festivus Dog

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Mike Dobranski, REALTOR®
Keller Williams Realty – The Marketplace
Las Vegas / Henderson, NV

Phone: 702-370-3521
E-Mail: Mike@PrimeRealEstateLasVegas.com
Web: http://www.PrimeRealEstateLasVegas.com

The information contained in this blog is often considered time-sensitive and/or can change without notice, and should be treated as such. The opinions of this blog are solely that of the author, and do not reflect the opinion of Keller Williams Realty.

This Market Sucks and I Can’t Wait For the Next One Like It!

This has been one of the most frustrating times of my life. 2008 has been one wild ride that has brought on more twists and turns and ups and downs than any of us should experience in our entire lifetime! This has been one of the most frustrating times for me, not because of the sensationalized gloom and doom constantly spewed by the media, but because every day I look at some remarkable opportunities the Las Vegas / Henderson real estate market is offering, and I kick myself that I’m not better financially positioned to take advantage of all of them!

Forget the BB Gun, I want Positive Cashflow!

While many Licensed Real Estate Professionals may make a great living representing people buying a home or selling a home, I think most of my colleagues would agree that the truly significant wealth is created by how we invest in real estate.

In this current market, you can give yourself the holiday gift of positive cashflow with the possibility of an annual rate of return on a $50,000 investment of what could be 7.2%, if not even greater!* I won’t even go into things like appreciation, tax incentives and all of the other financial benefits of real estate investing. There is an incredible amount of wealth to be gained in these economic times for those savvy enough and capable to take advantage of it.

While obviously I don’t want to wish anyone financial hardship, this market has shown me what is truly possible if we don’t allow ourselves to be recessed by the recession. The best advice that I can give to you is that if you are not positioned or even think you may not be positioned to take advantage of these opportunities right now, then get in touch with a qualified and honest professional to map out what you need to do when the economy gets rolling again so you can be able to take advantage of the next bubble to burst. It is a privilege of mine to assemble a team of professionals to help you achieve the financial goals you dream of.

Many of my clients and friends out there tell me that while they have the means, they just don’t understand real estate investments, and rule number one in investing is “Invest in what you know.” My promise to you as your trusted real estate advisor is to have you well-versed and educated about real estate so that you will feel comfortable with any smart decision we make together.

The possibilities are endless in the Las Vegas Metropolitan real estate market, and whether it is renting out a $50,000 condo or a land parcel that once sold for $78 million that was sold for just under $2 million, there is an incomprehensible amount of wealth to be gained while the sky falls down on everyone else.

If you are interested in taking advantage of what this market has to offer and need help in assembling the right team of professionals to help you achieve your goals for 2009 and beyond, call me anytime at 702-370-3521 or e-mail me at Mike@PrimeRealEstateLasVegas.com

Mike Dobranski, REALTOR®
Keller Williams Realty – The Marketplace
Las Vegas / Henderson, NV

Phone: 702-370-3521
E-Mail: Mike@PrimeRealEstateLasVegas.com
Web: http://www.PrimeRealEstateLasVegas.com

The information contained in this blog is often considered time-sensitive and/or can change without notice, and should be treated as such. The opinions of this blog are solely that of the author, and do not reflect the opinion of Keller Williams Realty.

* – Figures represent currently available properties and most recent renting activity for comparable properties. This is an estimate and no guarantees of occupancy rates or cashflow numbers are ever given.

Sitting On The Fence Only Gets Splinters In Your Butt!

As 2009 rapidly approaches, the Las Vegas / Henderson, NV real estate market continues to have solid activity with new home owners and investors taking advantage of some tremendous opportunities. With that said, many would-be buyers and investors continue to sit on the fence no matter how much data and statistics show that this extraordinary time contains some extraordinary buys. As they say, the only thing you get from sitting on the fence are splinters in your butt!

Not the most comfortable place to be…

For those that took advantage and continue to take advantage of the outstanding opportunities the Las Vegas / Henderson luxury home market has been providing, congratulations on not only owning your dream, but making a wise financial decision on top of it.

Imagine having a years head start on the financial advantages of home ownership, let alone having that time to make your new residence truly your own. While many cringed at the thought of buying real estate earlier this year, there are those that saw a spectacular opportunity and took advantage of it. When you factor in things like low mortgage rates and greatly reduced home construction costs for those looking for upgrades and improvements, the buyers of 2008 will be the envy of the buyers of 2009 and beyond.

For those that decided to hold off and continue to wait for that ever-elusive “bottom”, here is just a little taste of what they missed out on:

• A magnificent estate in The Lakes sold for 44% less in February of 2008 than it did in September of 2006.
• Also in February of 2008, a new Anthem Country Club resident bought a home for over $470,000 less than it did two years earlier.
• A new Sunridge resident stole a home for a staggering $775,000 less than its previously recorded value in 2005.

Looking at specific communities and what sales price per square foot figures are from activity in the last 90 days, we see that many people earlier in the year bought their homes then for what would be considered a fantastic price today.

For example, the prestigious guard-gated community of MacDonald Highlands in Henderson has been offering blisteringly hot opportunities all year long. Over the last 90 days, the closed transactions in MacDonald Highlands have been selling at an average of roughly $287 / sq. ft. Here are just two of the many stunning buys MacDonald Highlands has seen this year:

• In March of 2008, an outstanding 4,000+ sq. ft. estate on over 13,000 sq. ft. of land sold for $200 / sq. ft.
• An almost unheard of sales price of $188 / sq. ft. for a 4,265 sq. ft. home on a remarkable 15,600+ sq. ft. lot went to a very fortunate buyer in July of this year

This is just the tip of the iceberg of the outstanding opportunities the Las Vegas / Henderson, NV real estate market has produced in this historic year of 2008. When we sit back, block out the gloom and doom and look at the statistics and fact, we see that great buys have been made, and there are still great buys to be had. Don’t be recessed by the recession! Take advantage of the truth.

To find out more about the properties referenced above or to have your own private consultation of what this great area has to offer, call me any time at 702-370-3521 or e-mail me at Mike@PrimeRealEstateLasVegas.com.

Mike Dobranski, REALTOR®
Keller Williams Realty – The Marketplace
Las Vegas / Henderson, NV

Phone: 702-370-3521
E-Mail: Mike@PrimeRealEstateLasVegas.com
Web: http://www.PrimeRealEstateLasVegas.com

The information contained in this blog is often considered time-sensitive and/or can change without notice, and should be treated as such. The opinions of this blog are solely that of the author, and do not reflect the opinion of Keller Williams Realty.

Are Liquidated Assets Burning A Hole In Your Mattress?

When the sky started to fall, many of us ran to our banks, our stock brokers and our money managers and took what cash we had left and started stuffing the nearest mattress with it. As the stagnant aroma of liquidated assets fills the air, luxury homes in the Las Vegas / Henderson, NV area sit on the market waiting for their next owners.

Insert Money Here

With so many people screaming at the top of their lungs to not buy in the upper-tier of the real estate market, even people in our very own industry, it’s no wonder these homes sit with little to no activity. For many of the properties, it’s true, they shouldn’t be looked at. From my estimation, well over 80% of the homes in the luxury market are overpriced!

But then we think about the other 20%.

It all comes back to my strong belief that there is no such thing as a good or bad time to buy real estate, there are only good and bad opportunities. What we perceive as a “good time to buy” is when there is an overload of good opportunities, and what we perceive as a “bad time to buy” is simply when those good opportunities are a little more difficult to find. While people sit on their stagnant liquidated assets and wait for the green light that the world is good once again, here is just a taste of what they are missing:

• A non-distressed architectural stunner in Roma Hills for only $258/Sq. Ft.
• An opportunity to get a magnificent estate in MacDonald Highlands for over $1.8 Million less than what was paid 3 years ago.
• A chance to complete a dream estate in Seven Hills for only $550,000.
• Own breathtaking panoramic views of the Las Vegas Strip in prestigious Anthem Country Club for only $200/Sq. Ft.

It is the decisions we make in times of trial that determine if it is truly a negative period in our lives. My urge to everyone is to not be recessed by the recession! When you hear that it is a “bad time,” understand that statement is a limiting belief of the uninformed.

To find out more about these opportunities and the many other opportunities throughout the Las Vegas / Henderson, NV real estate market to become wealthy from other peoples’ panic, call me anytime at 702-370-3521 or e-mail me at Mike@PrimeRealEstateLasVegas.com.

Mike Dobranski, REALTOR®
Keller Williams Realty – The Marketplace
Las Vegas / Henderson, NV

Phone: 702-370-3521
E-Mail: Mike@PrimeRealEstateLasVegas.com
Web: http://www.PrimeRealEstateLasVegas.com

The information contained in this blog is often considered time-sensitive and/or can change without notice, and should be treated as such. The opinions of this blog are solely that of the author, and do not reflect the opinion of Keller Williams Realty.

Robin Leach Breaks Major News About Las Vegas Entertainment Developments!

Luxury Lifestyle icon, Robin Leach, scored two major scoops in back-to-back days on his fantastic Vegas DeLuxe Blog and Media Site. Known to the world from his Lifestyles of the Rich and Famous days and also a founder of the Food Network, Robin now calls Las Vegas home and reports on the luxury and celebrity happenings in Las Vegas.

Rich and Famous With Robin Leach

Robin’s report yesterday broke the news that the Bee Gees are planning a large scale musical production which would be housed along side Danny Gans in his new home at Steve Wynn’s Encore Theater. With a working title of Stayin’ Alive, the Bee Gees’ production will be somewhat similar to Frankie Valli’s smash hit,Jersey Boys, at The Palazzo, as it will be biographical in nature while featuring their top hits.

If that wasn’t enough, Robin followed up today with another blockbuster announcement that Steve Wynn plans to add a 4,000 seat Wynn Arts Center to his Encore property. An official announcement of this massive entertainment complex is expected to come in early 2009. Both Stayin’ Alive and the Wynn Arts Center are planned to be completed by Encore’s 1st anniversary, which would be December 22, 2009, as Encore Las Vegas will officially open on the 22nd of this month!

With all of the major developments such as The Smith Performing Arts Center being planned for Downtown Las Vegas’ extraordinary Union Park development, Broadway shows such as The Lion King opening on The Las Vegas Strip, and museums and other concert venues opening and planned throughout the Las Vegas Metropolitan Area, there has never been a more exciting and proud time to call Las Vegas and Henderson, NV home!

Thanks to Robin Leach for all of his excellent work and brilliant reporting! Make sure you check his website out at http://www.VegasDeLuxe.com!

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Links to Referenced Blogs:

Vegas DeLuxe with Robin Leach
Exclusive: Steve Wynn and Bee Gees Plot Stayin’ Alive Musical for Encore
Steve Wynn Plans 4,000-Seat Arts Center at Encore

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Mike Dobranski, REALTOR®
Keller Williams Realty – The Marketplace
Las Vegas / Henderson, NV

Phone: 702-370-3521
E-Mail: Mike@PrimeRealEstateLasVegas.com
Web: http://www.PrimeRealEstateLasVegas.com

The information contained in this blog is often considered time-sensitive and/or can change without notice, and should be treated as such. The opinions of this blog are solely that of the author, and do not reflect the opinion of Keller Williams Realty.

Records Shattered In A Great November For The Prime Real Estate Las Vegas.com Blog!

Since my very first step into the Real Estate Blogging World back on January 30, 2008, The Prime Real Estate Las Vegas.com Blog has had a constantly growing readership since day one. November was an especially remarkable month as the ceiling was totally shattered with the blog having a nearly 800% increase in views from the previous high in October!!!

Tanks For Reading!

I just wanted to say a very heart felt thank you to everyone for making the The Prime Real Estate Las Vegas.com Blog the success I could only dream it could be back when I started blogging just a short 10 months ago. Without your encouragement, support and advice, this blog would not be what it is today. My goal from the very beginning was to provide information that matters the most to you, and through your supportive feedback and thoughtful suggestions, I have been able to mold the blog into something that I hope brings benefit to all that honor me with their readership.

There are exciting new developments coming on the horizon with a significant makeover to PrimeRealEstateLasVegas.com hopefully being launched by the end of this month. There will be more to come about the changes and additions to my main website as launch time approaches and the Dreamweaver Gods smile down upon me.

Thank you again for taking the time out of your busy days to read what I have to say about Real Estate and Living in Las Vegas / Henderson, NV. As always, I appreciate your comments for the already written blogs and suggestions for blogs yet to come.

To get the most up to date information the moment it happens, please Subscribe to my Blog Feed, Follow me on Twitter, or Join me on Facebook. You can also subscribe to my monthly Prime Real Estate Las Vegas.com Home News Update by e-mailing me at Mike@PrimeRealEstateLasVegas.com or calling me at 702-370-3521 so I can add your e-mail address to the list.

With Sincere Gratitude,

Mike Dobranski, REALTOR®
Keller Williams Realty – The Marketplace
Las Vegas / Henderson, NV

Phone: 702-370-3521
E-Mail: Mike@PrimeRealEstateLasVegas.com
Web: http://www.PrimeRealEstateLasVegas.com

The information contained in this blog is often considered time-sensitive and/or can change without notice, and should be treated as such. The opinions of this blog are solely that of the author, and do not reflect the opinion of Keller Williams Realty.

Breaking News: We’re In A Recession

For the “Duh” Moment of the Year, the National Bureau of Economic Research (NBER) just officially determined today (December 1, 2008) that the United States is in a recession. Is this the bureaucratic equivalent of being fashionably late to a party? How embarrassed must the press representative of the NBER have been to release such a dumb announcement? Instead of the saying “A day late and a dollar short” would this be “A year late and a few trillion short”?

NBER, Please Stand to the Right

The key to surviving and even thriving through an economic downturn is to not be recessed by the recession. It is a tough time, and everyone has to make strong budgetary decisions in this time, but it is in these decisions where you will look back and determine the true cost of the recession.

It’s all about what mindset you are in during this time, do you want to be a victim or do you want to take advantage of some great opportunities. There are some significant opportunities in the Las Vegas / Henderson, NV real estate market right now because of people afraid of the current economic climate. I suppose it is just human nature to get wrapped up in the doom and gloom and our memories fail to remind us that we have all been here before, and we’ll survive just like every other time the economy took a nose dive. Think back to where you were at the turn of the century for the Dot Com crash. How many different opportunities revealed themselves back then that you are just kicking yourself over?

Whether you want an investment property with almost built in positive cashflow or if you want to get that dream luxury home for literally hundreds of thousands of dollars less than what you would have to pay in a less panic-stricken time, there are some of the best opportunities to become wealthy through real estate in the Las Vegas / Henderson, NV area than there have been in a long time.

To get a private consultation of the many outstanding opportunities this Las Vegas / Henderson, NV real estate market has to offer, call me anytime at 702-370-3521 or e-mail me a Mike@PrimeRealEstateLasVegas.com.

Oh, and just in case representatives from NBER are reading this, just to get you caught up; the Earth is round, David Cook won American Idol, Obama got elected President and hopefully along with the recession this year, you also missed the remake of Knight Rider.

Mike Dobranski, REALTOR®
Keller Williams Realty – The Marketplace
Las Vegas / Henderson, NV

Phone: 702-370-3521
E-Mail: Mike@PrimeRealEstateLasVegas.com
Web: http://www.PrimeRealEstateLasVegas.com

The information contained in this blog is often considered time-sensitive and/or can change without notice, and should be treated as such. The opinions of this blog are solely that of the author, and do not reflect the opinion of Keller Williams Realty.

The Outstanding Generosity of a Las Vegas / Henderson Area Real Estate Office

With temperatures still in the mid to high 70’s here in the Las Vegas / Henderson area, we have to try a little harder here to remember that Thanksgiving is right around the corner. Sometimes we think of the Thanksgiving holiday as a time to stuff our faces, watch some football and see family we don’t get to, maybe even don’t want to see very often. In all of the hectic traveling and non-stop cooking, we often do not get to reflect on what makes up the word “Thanksgiving,” which is Thanks and Giving.

Just Another Meal

Since I joined the Keller Williams family a few weeks ago, I have been overwhelmed with the generosity of the agents and the staff there. In an office of what most people would call competitors, you have a family of professionals sharing ideas, personal triumphs as well as failures. The people are there to extend a hand of support, give you a shoulder to cry on and hand you a pillow to scream at. Whether it is learning about the latest techniques for working with Bank Owned properties or it is ironing out a solid business plan, everyone in my Keller Williams office is involved in making all of us better professionals. Quite frankly, it has been an experience just getting used to it. But one thing I know…I really like it and I don’t want it any other way.

Today, my understanding of the outstanding generosity that is the cornerstone of the Keller Williams culture was taken to a new level. Today, our office held a Holiday Charity Auction for KW Cares. KW Cares is a non-profit public charity that helps Keller Williams Realty associates and their families through times of extreme hardship. One of our very own top agents spoke of how KW Cares gave much needed assistance to her family when her grandchild needed major brain surgery. Everything from gift baskets to wreaths and spa treatments to specially prepared dinners were all donated for us to bid on. I scored a framed poster from the movie, Goodfellas! In about 2 hours, the Holiday Auction raised over $6,000 for this marvelous charity! It was a great day for everyone involved, and more importantly, a great day for a great cause.

To find out more about KW Cares, please visit http://www.kwcares.org.

KW Cares

Mike Dobranski, REALTOR®
Keller Williams Realty – The Marketplace
Las Vegas / Henderson, NV

Phone: 702-370-3521
E-Mail: Mike@PrimeRealEstateLasVegas.com
Web: http://www.PrimeRealEstateLasVegas.com

The information contained in this blog is often considered time-sensitive and/or can change without notice, and should be treated as such. The opinions of this blog are solely that of the author, and do not reflect the opinion of Keller Williams Realty.