The 2008 Las Vegas outlook looks promising in the real estate market.  The Fed just lowered interest rates to under 6% for a 30 year fixed rate this week.  This is a good sign for potential buyers looking for homes or commercial property in the Vegas valley.  Even with Las Vegas ranked number one in the nation in foreclosures for 2007, the housing market floods with affordable resale and new construction homes. 

You can search properties here  and there are many bank owned homes, homes in short sales status, and ongoing foreclosure status.  I can help you look for the bargains and potential investments.  Prices of a 3500 sq. foot home with 5 bedrooms and 4 baths run in the 300s now. There are many homes under 200s, and if you're looking for dream homes over 5000 sq. ft, this is the best time to buy.

The hi-rise condo sales activity has increased in Las Vegas more so than single family residence homes in the past months.  I have a great deal at Panorama Towers II on the 11th floor, see my listing for details here .  $7 Billion dollar City Center will be located across Panorama Towers where condo units are running in the 800s to over a 1Mil dollars for less than a 1000 sq. foot unit.  The completed date for City Center will be in 2010. Invest now at Panorama and you will eventually have positive equity when City Center opens in 2 years. 

The lastest retail development to pop up is Town Square , with cobblestone streets and local, namebrand and upscale boutique shops, this place is a fun place to bring your family and friends.

Soft opening of new casino, The Palazzo initiated in December with Earth, Wind and Fire ringing up the New Year.  JayZ is part owner of the new 40/40 club-sportsbar at the Palazzo and it looks like the architecture of the famed Palazzo back East.  A new grand opening is scheduled for this year once all the rooms are completed.

Stations Casino has launched an opening of Aliante Station in North Las Vegas this year.

Harrah's intend to build a new sports arena to hold a professional basketball or hockey team near Paris and Ballys' current parking lot.  The arena should be ready in 2 years.

Magic Show in February 2008 will be the 2nd largest convention this year behind the famed Consumer Electronics Show.

Local Bites: Steak Houses - Billy Bob's Steakhouse at Sam's Town, Luxor Steakhouse

                   Chinese Dim Sum - Cathay House, Chinatown

                   Greek Food - Greek restaurant at the Galleria in the food court

                   Sandwiches - Jersey Mike's

                   Best buffet - Green Valley Ranch, Rio Seafood Buffet