One of the things that has worked out really well for ManhattanWest was my decision to locate our corporate offices adjacent to the construction site. This makes it easy for my construction team and myself to walk over a couple of times a day (and sometimes more frequently) to keep an eye on construction, discuss design issues with our general contractor and subcontractor, and keep things moving forward briskly.
Lately, the focus has been on concrete and plumbing. The concrete is being poured for the parking levels and to create the base for the residential floors. Before the concrete can go in, though, the underground plumbing lines need to be put in. This is about as deep as we go into the earth. The most interesting moments are when we hit pockets of mineral-hard "caliche", a sort of rock formation common to Las Vegas. The good news is that caliche is a great bedrock upon which to build. The bad news is that trying to dig a trench through pure rock is not as easy as digging it through desert sand!
Our construction team has brought in special equipment to handle the caliche. They take standard-issue loaders and attach a device called a ram-hoe. It's like a really really big jackhammer. And sometimes, when there's enough room, they wheel in the big mama: a Trencher. This big beast can grind through rock at an impressive clip.
We've gotten the first slab poured, and we're starting to deploy the framers to the site to begin framing work. Things are moving quickly as we press on an around-the-clock, 7x24 construction schedule.
Alex
Monday, November 19, 2007
Wednesday, November 7, 2007
New Home Sales on the Rise
The overabundance of available homes and its impact on the future of the Las Vegas market has been a major concern for potential buyers and investors.
Recent reports show however, that sales have been increasing and the inventory of new homes has dropped for six consecutive months.
Fact #1 - New Single Family Homes Sales Increase by 4.8% - 37% in the West.
Sales increased to 770,000 in September, an unexpected rise over the estimated 3.1% decline. The West region showed the sharpest gain at 37%.
Fact #2 - The Supply of Unsold New Homes is Dwindling
Six months of consecutive inventory drops brings the supply of unsold new homes to 8.3 months, or 523,000 homes. This number is a 6.6% decrease over last September’s count of 560,000 homes. As the supply decreases, builders will be able to sell at a higher price points, as opposed to lowering prices and adding incentives to close sales.
Fact #3 - Price of New Homes is Up
September showed a 5% increase over last year with the median price of new homes sold going from $226,000, up to $238,000. The increase is an indicator that the demand and ability to obtain loans are both improving.
The combination of builders slowing down production and cutting prices has led to more homes being sold and has contributed to a decrease in new home inventory over the last six months. This trend is a good sign, because as inventories decrease, the market will continue to improve.
Recent reports show however, that sales have been increasing and the inventory of new homes has dropped for six consecutive months.
Fact #1 - New Single Family Homes Sales Increase by 4.8% - 37% in the West.
Sales increased to 770,000 in September, an unexpected rise over the estimated 3.1% decline. The West region showed the sharpest gain at 37%.
Fact #2 - The Supply of Unsold New Homes is Dwindling
Six months of consecutive inventory drops brings the supply of unsold new homes to 8.3 months, or 523,000 homes. This number is a 6.6% decrease over last September’s count of 560,000 homes. As the supply decreases, builders will be able to sell at a higher price points, as opposed to lowering prices and adding incentives to close sales.
Fact #3 - Price of New Homes is Up
September showed a 5% increase over last year with the median price of new homes sold going from $226,000, up to $238,000. The increase is an indicator that the demand and ability to obtain loans are both improving.
The combination of builders slowing down production and cutting prices has led to more homes being sold and has contributed to a decrease in new home inventory over the last six months. This trend is a good sign, because as inventories decrease, the market will continue to improve.
Next Sales Release will be Celebrated with a Cocktail Party
Please join us in the ManhattanWest Sales Center as we celebrate our next sales release with a cocktail party on Thursday, November 15, 2007, from 6:30-8:30pm. Enjoy live music by the HagerRivera Project, along with great hors dourves and ManhattanWest Martinis.
Tour our full-sized model residence, view 3-D animations, and learn more about the community in a relaxed atmosphere.
Be sure to register now to join our VIP list or call 702.893.2663 to reserve your invitation to a night not to be missed!
Tour our full-sized model residence, view 3-D animations, and learn more about the community in a relaxed atmosphere.
Be sure to register now to join our VIP list or call 702.893.2663 to reserve your invitation to a night not to be missed!
ManhattanWest Teams Up With 944/Spy On Vegas for Sales Event
A great time was had as ManhattanWest sponsored the Spy On Vegas Open Bar at the sales center on Thursday, October 25th. Guests enjoyed live music by the HagerRiver Project, delicious hors dourves, and specialty cocktails provided by Skyy Vodka. The sales team provided model tours as four new residents reserved their homes that night.
Friday, September 28, 2007
ManhattanWest Soiree A Success
ManhattanWest hosted a New York Soiree on September 27, 2007, celebrating our newest sales release. A great crowd was on hand to sample delicious hors dourves, hear great live jazz music, and indulge in a few special ManhattanWest Martinis.
Friday, September 21, 2007
VIP Sales Release and Cocktail Party: Thursday, September 27th, 2007, 6:00pm - 8:30pm Manhattanwest Sales Center:9121 West Russell Road
Please join us at the ManhattanWest Sales Center on September 27th from 6:00-8:30pm for a New York Soiree as we celebrate our newest sales release! Enjoy live jazz, great food, and special ManhattanWest cocktails.
Tour our full-sized model residence, view 3-D animations, and learn more about the community in a relaxed atmosphere.
Be sure to register now to join our VIP list or call 702.893.2663 to reserve your invitation to a night not to be missed!
Tour our full-sized model residence, view 3-D animations, and learn more about the community in a relaxed atmosphere.
Be sure to register now to join our VIP list or call 702.893.2663 to reserve your invitation to a night not to be missed!
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