Monday, July 31, 2006

FACTS AT A GLANCE
Dolce by the Lakes is a condominium conversion consisting of 1, 2 and 3 bedroom homes.
Our seller is Prestige Builders Developers, a recognized builder in Nevada, Arizona, Florida and North Carolina. With over 37 active communities and over 9,500 homes under construction, our buyers feel confident purchasing from such a prominent company.
The look and feel of Dolce is a spa-like, relaxing environment. Our community is unique in that we have an indoor swimming pool and jetted spa inside our clubhouse, along with a sauna, steam room, showers and state-of-the-art fitness center for our homeowner’s enjoyment.
Dolce is located 7 miles from the world-famous Las Vegas Strip, across the street from The Lakes, a prestigious, well-established community and next door to Summerlin, the number one selling master-planned community in the United States for the last 15 years. What this means to you is that anything you want to do – fine dining, shopping, entertainment – is literally right outside your door.
All of our homes include new granite, new maple cabinetry in a Shaker style, new Frigidaire stainless steel appliances (smooth ceramic top range and oven, refrigerator/freezer, dishwasher and microwave), new carpet and padding, wood-grain vinyl flooring, two-tone paint and new 40 gallon hot water heater. Each home includes one covered, assigned parking space, and there is abundant parking available for guests.
There are also two outdoor pools, an outdoor jetted spa, BBQs and picnic areas throughout the community. All homes on the top floor have a wood-burning fireplace.
There are 358 homes and the current base prices are:
1 bedroom - $149,900 (704 sq. ft. including balcony)
2 bedroom - $189,900 (1,016 sq. ft. including balcony)
3 bedroom - $232,000 (1,154 sq. ft. including balcony)
If you purchase an unrefurbished home, seller will make sure existing appliances are in working order, clean or replace countertops and carpeting as necessary, and paint – you can deduct $8,000 from the 1 bedroom price, $9,000 from the 2 bedroom price and $10,000 from the 3 bedroom price.
Pricing options
Pool/Clubhouse - $7,000
Upstairs - $5,000
Corner - $1,500
Greenery - $2,500
Various locations - $3-5,000
Homeowner’s Association Fee:
$140/month (water, sewer and trash billed separately) includes:
Gated entry, 70 channels of DirectTV satellite TV, property insurance (except for the inside of your home), grounds maintenance, pest control (exterior of homes), indoor and outdoor pools (3 total), jetted spas (2), sauna, steam room, fitness center, BBQ and picnic areas
Water, sewer, trash (approximate):
$20/month on 1 bedroom
$25/month on 2 bedroom
$30/month on 3 bedroom
Pet restrictions
2 pets – 80 pound maximum combined weight
Earnest Money Deposits
Depending on how you choose to purchase, this will determine the amount of earnest money required. By using one of our preferred lenders, you enjoy a lower earnest money deposit, as well as a new Frigidaire white-on-white top-loading washer and dryer.
Owner Occupied with our preferred lender - $3,000, washer and dryer and up to 3% contribution of base price towards closing costs
Owner Occupied using an outside lender - $7,000 (no loan contingency)
2nd Home and Investor with our preferred lender – 5% of purchase price, washer and dryer and up to 3% contribution of base price towards closing costs
2nd Home and Investor using an outside lender – 10% of purchase price (no loan contingency)
Rentals
If you purchase as an investor, you can use the following rents for a refurbished home:
1 bedroom - $845
2 bedroom - $950
3 bedroom - $1,070
Add $10/month for third floor homes and adjust for premium locations as well.
Preferred Lenders
Our preferred lenders are Premier Mortgage, Countrywide Home Loans and Meridias Capital and we will be happy to get you prequalifed so you can estimate your monthly payment.

Sunday, July 30, 2006

Nize Notes: Bill Gross: Housing Prices Starting to Decline

Thank God we are in Vegas...Sales are still happening here...Definately a different market then the rest of the USA. It seems the worse the economy gets, the more people get up and move to V-Land.
VIVA LAS VEGAS!
Nize Notes: Bill Gross: Housing Prices Starting to Decline

Monday, July 10, 2006

KB Home: Negative Trends in Housing Could Continue into 2007

What a great article... this guys blog rocks! must read material -Steve Harless

Nize Notes - http://www.nizenotes.com/

KB Home: Negative Trends in Housing Could Continue into 2007

Mega homebuilder KB Home, in its most recent filing with the SEC , provides a good field report as to what is really going on in the housing market right now: declining sales, inventory build-up and higher cancellation rates."Our outlook is tempered with caution, ...conditions in many of the markets we serve across the U.S. have become more challenging in recent months. A number of our markets have been affected by a build-up of new and resale home inventories, higher interest rates and higher cancellation rates, particularly markets that have experienced rapid price appreciation or substantial investor activity, or both, in the past few years. As a result, our sales have been adversely affected. During the quarter ended May 31, 2006, for example, we generated 9,908 net orders, a decrease of 19% from the 12,290 net orders posted in the same quarter last year...U.S. net orders decreased 27%, " KBH reports in its filing.KBH continues, "...we expect the current negative trends in the U.S. housing market to continue for the remainder of 2006 and, possibly, into 2007..."Of course, you will never find a more optimistic group than home builders, so it is no surprise that KBH then talks about "the long run.": "In the long run, we believe the underlying fundamentals of strong demographics and job growth continue to support favorable domestic housing demand."This may certainly be an appropriate time to remind KBH about John Maynard Keynes' observation on the long run: "In the long run, we are all dead."In truth, no one knows how bad the housing market will get. It has been in a multi-decade Federal Reserve inspired boom. Now that the Fed is raising interest rates, the key question will be how much damage have the rate hikes to date already done to the real estate market. Remember, it may take months before all the problems show up. And once they do, we don't believe the Fed will reverse and lower rates until a major obvious crisis hits the economy and/or financial markets. By that time, the real estate market could be on life support.

From Raymond Nize blog: Nize Notes - http://www.nizenotes.com/

Thursday, July 06, 2006

LAS VEGAS HIGH RISE INFORMATION

For those of you who are contemplating purchasing a high rise in Las Vegas, This is for you....
contact Steve Harless - Realty Executives for more info. 702-217-1680

Las Vegas Real Estate Still Booming - Investors and Home Buyers are BackPRWeb.com (May 4, 2006)
The Reinvention of the SkyVegas Essential (May 2006)
A Contradictory Market Cools, Despite Competition for LandWall Street Journal (April 19, 2006)
High-rise Project Uses Innovative FinancingLas Vegas Business Press (April 18, 2006)
Luxury Condo Projects Falling by WaysideLas Vegas Business Press (April 10, 2006)
Growing New High RisesLas Vegas Sun (April 3, 2006)
Allure High-rise Condo Project Reaches Top of NinthLas Vegas Review Journal (March 20, 2006)
Calming High Rise Condo Fears(KVBC.com February 1, 2006)
Las Vegas Condo Boom Cooling As Some Projects CanceledEngineering New-Record Magazine (January 23, 2006)
Out in the ColdLasVegasCityLife.com (January 12, 2006)
High-rise High Rollers Descend on Sin CityThe Miami Herald (December 10, 2005)
New Las Vegas Game: 2 BR's, Strip VuNew York Times (December 2005)
Alllure Las Vegas Opens Its Highly Anticipated Sales CenterLas Vegas Review Journal (December 2005)
Top Housing MarketsCNN Money Real Estate (December 2005)
Allure Las Vegas Opens Its Highly Anticipated Sales Center at Fashion Show Mall Next WeekLos Angeles Times (December 2004)
Allure Las Vegas Offers Panoramic City and Strip ViewsLos Angeles Times Nevada Living (November 2004)
Investors Buy Real Estate At Record PaceWall Street Journal (November 2004)

Wednesday, July 05, 2006

Las Vegas: It's definitely a buyer's market

Las Vegas: It's definitely a buyer's market

By Noelle Knox, USA TODAY
Real estate looks like one of the biggest gambles in Las Vegas. During the real estate boom, investors helped propel the market here — especially for condos — and pushed prices up 137% from 2000 levels.
About 60% of home buyers from January to March took out high-risk loans that give them the option of paying only the interest or even less each month, according to LoanPerformance. (Would their odds have been better at the blackjack table?) The number of condos listed for sale is up 67% from last year. And a dozen projects are under construction or have recently been completed.

"The condo market — there are your investors; that's the whole story of the market," says Dennis Smith of Home Builders Research, a data firm. At least five condo projects have been canceled in recent months. Sales of single-family homes were off 17% in May. And with a 7½-month supply, it's definitely a buyer's market. Meantime, sales of newly built homes, which make up 40% of all sales in Las Vegas, are roughly flat compared with last year, Smith says. Still, the gambling business remains strong. Last month, MGM Mirage poured the foundation on Project CityCenter, a $7.7 billion, 66-acre development with hotels, condos, retail and, of course, a casino.

The most expensive

MGM Mirage is selling this mansion on 4.7 acres on a golf course in North Las Vegas. If it fetches this price, it'll be the most expensive home ever sold there.
Price: $28 millionBedrooms: 4Bathrooms: 5 full baths, three half bathsSize: 12,041 square feetFeatures: Built-in entertainment center, wet bar, intercom system, formal living room, marble floors, jet bathtub, steam shower, walk-in closets, hot tub, swimming pool
Median-price home

This two-story house was built in 2003 on less than half an acre.
Price: $330,000Bedrooms: 3Bathrooms: 2½Size: 1,677 square feetFeatures: Two-car garage, formal dining room, foyer, walk-in closet, mirrored closet, pantry, laundry room

Euroweb International Announces Entering a Real Estate Development Project

LOS ANGELES--(BUSINESS WIRE)--July 5, 2006--Euroweb International Corp. ("Euroweb") (Nasdaq Capital:EWEB), announced Friday that through its wholly-owned subsidiary, Euroweb RE Corp. ("ERC"), it has agreed to provide funding to AO Bonanza Las Vegas, Inc. ("AOB") in an amount up to $10,000,000 within its sole discretion - as reported on the Form 8-K Current Report filed with the Securities and Exchange Commission on June 23, 2006.
Yossi Attia, director of the Company and CEO of ERC stated: "To date, ERC has provided partial funding into escrow. The loans are to be secured by property held by AOB located in Las Vegas and have been placed in escrow to be used for the development of the property in Las Vegas. We believe this is a great opportunity for ERC and the Company as upon payment, whether by prepayment or at maturity, AOB shall pay ERC the greater of (i) the principal including 12% interest per annum or (ii) 33% of all gross profits derived from the property that is being developed. In addition, ERC has the right to acquire the property for a purchase price of $15,000,000 through January 1, 2015. This option and its terms will allow ERC to choose the right time to exercise its option, if at all, in order to maximize its profits and optimize shareholders' value."
Moshe Schnapp, President of the Company, stated: "we believe the Company, with the funding of the project commenced by AOB, is entering a new era, which is exciting and appears to be promising."
About Euroweb International Corp.
Euroweb International owns and operates an IT outsourcing company in Hungary through its wholly owned subsidiary, Navigator Informatika Rt. and is currently seeking opportunities in the real estate industry through its wholly-owned subsidiary, Euroweb RE Corp., a Nevada corporation. Euroweb's common stock is traded on the Nasdaq Capital Market under the symbol "EWEB". For more information about the Company go to: www.euroweb-international.com.
"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This press release contains forward-looking statements that involve risks and uncertainties. The statements in this Release are forward-looking statements that are made pursuant to safe harbor provision of the Private Securities Litigation Reform Act of 1995. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements. These statements involve known and unknown risks and uncertainties, which may cause Euroweb International Corp's actual results in future periods to differ materially from results expressed or implied by forward-looking statements. These risks and uncertainties include, among other things, product demand and market competition. You should independently investigate and fully understand all risks before making investment decisions.