Celebrity Homes at the Top of a Down Vegas Market

28 June, 2013 BY Virtual Results PubSub

LAS VEGAS, May 17, 2011 /PRNewswire/ — Lee M. Medick partner in the Luxe Estates Collection has a secret to selling luxury homes in Las Vegas – market those with a great backstory.  “If there are two luxury estate homes side by side would you rather buy the one owned by Nicolas Cage or Joe Nobody?” Lee Medick said responding to a question regarding high end real-estate in Las Vegas.  “That is what makes Vegas, Vegas,” Lee stated.  “The homes that have a great celebrity story remain the hottest properties and are holding their value.”

(Photo: http://photos.prnewswire.com/prnh/20110517/LA03394-a)

(Photo: http://photos.prnewswire.com/prnh/20110517/LA03394-b)

Luxe Estates Collection has represented some of the most notable properties including everything from Nicolas Cage’s former estate to the 18-bedroom 36 bath Sultan’s compound.  “While it is true that the overall real-estate market is down the smart money is coming to Luxe Estates to not only capture a piece of Vegas’ fabled personality, but to invest in properties that will be the first to grow in value,” Lee stated.  “Ours is a unique niche.  Buyers and investors from across the United States keep our phones ringing and we keep signing confidentially agreements.  They foresee a strong rebound in values, and while a Nicolas Cage home should be priced at $12 million in a robust market it is now priced at $7.9 million, that $4 million equity growth potential is what investors are targeting,” Lee concluded.

 

SOURCE Luxe Estates Collection

Courtesy of PR Newswire – View Original Post


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