Some years ago when asked if I would ever consider living in Las Vegas, I would have said 'No way, there's only casinos and gambling there, and nothing else." I was suffering from not really knowing what was there, or the vision of what Las Vegas was to become. Fortunately the consultant, that is also my photographer / IT guy, who shares my office and my life was a business associate back then, and he revealed all it's secrets. There is not only amazing life and beauty beyond the Strip, there was an evolution taking place with a strong and redudant economy being built in the process. Las Vegas was changing it's focus from being a gambling town to a resort destination that spurred other growth in the community. Steve Wynn had started the transformation with his Mirage Resort in the late 80's, and it seems his 2005 Wynn Resort opening has fueled the next generation.
While these changes were being made on the Strip, more was going on beyond it. Las Vegas was diversifying as people began looking past the neon to an area with abundant recreation, plenty of sunshine, low to no taxes, and that strong and quick to bounce back economy. Yes, that's right, in spite of all the "bad news" in the media, Vegas is down, but not anywhere near out. There are still over 5,000 a month moving here, and a lot happening behind the scenes with 10's of thousands of jobs on the way.
The same can be said of communities, homes, and lifestyles around Las Vegas. Living here can cover a wide variety of choices. From small town 'Mayberry' feel of Boulder City and the incredible Lake Mead views near Hoover Dam, to the numerous Las Vegas Golf Communities, such as Tuscany Village. Yes, in the 600 square miles of the Vegas Valley there are quite a few surprises, ranging the waterfront properties of The Lakes to various luxury home communities from builders such as Toll Brothers, that join a large number of others.
Of course the center of the valley is the Las Vegas Strip. While the casinos are still part of the entertainment package, gaming is a smaller portion of total resort revenues as there's a lot more than a warehouse 'box' of slots and tables. What has been growing is with choices in entertainment, shopping, dining and nightlife, art and architecture, making Las Vegas a 'Cruise Ship in the Desert'. Now it's continuing to prepare as the next urban neighborhood of Las Vegas. High Rise condominium living will be part of the next wave, with more units joining Turnberry Towers, Sky Las Vegas, Panorama and Trump Towers. MGM's City Center opens next year as a city within, along with Fontainebleau and the Palazzo luxury condos soon to follow, as will others both on and off the Strip.
The variety found offered on the Strip reflects throughout Las Vegas and it's many communities There is something for every mood, every style, and an ever changing feast for the eyes. For a little glimpse of just some of this central transforming neighborhood to live in, and where so many Las Vegas locals go to work, or for a quick vacation, use the player below. If you'd like to view them full screen simply press the HD button in the bottom toolbar, and your keyboard escape to close when done. Or just press play, and either way you can turn off the background music with a click of the toolbar speaker button. Enjoy your tour!
EDITED TO ADD: The hosting site for Photoshow is down for maintenance until Wed. 7-23-08 @ 6AM. PST. When it's back up, you should also be able to view it on their site.
Since it's up and running again, thought I'd also include this one from a few months ago, with some Las Vegas construction pictures.
27 Comments on Las Vegas a Gamble? - See for Yourself - Photo Tour Included
JUL
21
2008
Roberta - I am generally in Las Vegas a couple of times a year for real estate events. I recently heard that the resorts are off by roughly 10% and they are running tons of incentives to attract guests. I am getting e-mails from the MGM group almost weekly with special offers so I believe they must be off a bit. I keep reading that there are still some amazing values in your market and that it is a great place to invest.
Sam: As I've come to find out, Las Vegas has always been a 'can-do' kind of town. The 50's began magazine articles questioning if Vegas was overbuilt. It grew. Atlantic City is located in the highest concentration of US population, and taking away the Vegas monopoly on gaming was supposed to be it's death knell. Then came the national expansion of tribal and state endorsed gaming, and that was to be the finishing blow. Las Vegas grew larger and faster. Next the double whammy of an actual recession in March 2001 followed by 9-11, that especially devastated the travel industry. Vegas did a quick turn around and grew some more.
Sure, the resorts have felt the pinch of the downturn, and the added perceptions created by the fear mongering media. Not much different than what you can see with wide swings in the market on good or bad news. I doubt true values swing to such extremes overnight. Luxury car sales down 110k from those that can most likely still afford to buy. Here they are battling high fuel prices, airline failures and cutbacks, and lower consumer spending. They're offering the same type deals to attract business as they've done before to ride out the storms, making it hard to not take advantage of them. There are also great bargains in Vegas housing, and if you look at what's coming up next, it's pretty easy to see there's a lot of opportunity for more growth.
Thanks for stopping by!
Charles: Thanks! Credit where credit is due, to that photographer of mine. They aren't as crisp as the originals, but a trade off for going full screen. Glad you liked them!
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Roberta - I am generally in Las Vegas a couple of times a year for real estate events. I recently heard that the resorts are off by roughly 10% and they are running tons of incentives to attract guests. I am getting e-mails from the MGM group almost weekly with special offers so I believe they must be off a bit. I keep reading that there are still some amazing values in your market and that it is a great place to invest.