In Las Vegas, the luxury real estate market continues to be one of the hottest in the country. Competition can be high within the area’s finest neighborhoods and bidding wars are not uncommon for the most luxurious properties and compounds. Las Vegas is no stranger to high rollers. Residents can ante up with the best of them at the gambling tables, but when it’s time to come home, Las Vegas’ luxury homes give you a choice to either relax and unwind in seclusion or to carry on the party with friends. However, even high rollers are looking for the best deals in the real estate market, and that’s where The Crighton Team comes into play.
Recently, the famous Palms Estate on Pecos Road (6990 S. Pecos Rd, Las Vegas, NV 89120) hit the market. The former home of a major casino owner known for his attention to detail and craftsmanship, the 5+ acre gated compound offered more than 24,000 square feet of living space, which included seven bedrooms and more than eight bathrooms. Blanketed by more than $3 million in palm trees, this privately gated tropical compound was offered complete with a lagoon-style pool and spa with rock waterfall, a private guest home, a car museum and many other surprising and luxurious features.
Previously offered for $8,950,000 and set for auction at $6,900,000, our team was able to secure this prestigious property for our client for just $2,825,000 – a savings of more than $4 million! This exceptional deal is more than 50 percent less than the other “celebrity compounds” currently listed for sale in and around the community.
How to Save Money When Purchasing Las Vegas Luxury Properties
With experience, and the right place and time, it is possible to purchase luxury real estate in Las Vegas at a fraction of its cost. However, there are a few things you need to keep in mind. Here are a few considerations that our professionals at The Crighton Team recommend when thinking about buying Las Vegas luxury properties.
- Strategy: Always have a plan before making any moves in the Las Vegas real estate market; this is not the gambling table. Make sure you and your Realtor® do your research about the area as well as other in-depth research like price comparisons and market trends.
- Financial Capacity: Be sure that you can handle the mortgage and other expenses prior to making an offer on any property. Those who are prepared will be ready and able to quickly take advantage of deals that arise.
- Use a Realtor®: Trying to find the best deals in the Las Vegas market can be challenging. Partnering with our team of professionals ensures you are alerted to the deals that best suit your needs and desires.
- Determination: Great deals take patience, planning and determination. Don’t jump ship on your search if the first deal that comes along doesn’t come to fruition. Stay dedicated to your search and the right deal will come along.
To learn more about the Las Vegas luxury real estate market or for more tips on how to save money when purchasing a Las Vegas luxury property, please do not hesitate to contact our professionals at The Crighton Team today. We are standing by to assist you and look forward to sharing our knowledge and experience with you. Let’s get started today!