Updated January 18, 2021 - 10:33 am
Las Vegas’ housing market reached new heights multiple times in 2020 despite severe economic pain from the coronavirus pandemic. Amid staggering job losses, the valley embarked on a hot streak of record home prices and rising sales, thanks in large part to cheap borrowing costs.
The market defied logic, but at least one thing stayed the same as in previous years: The gap between the most- and least-expensive house sales was enormous.
In this case, a mystery buyer, using a Raiders-themed limited liability company, picked up a Summerlin mansion, while a tiny 1940s-era house sold for the price of a luxury car.
Here’s a look at the valley’s cheapest and priciest single-family home sales of 2020, as reported by trade association Las Vegas Realtors.
1904 Hoover St.
This North Las Vegas home traded hands in February for $66,320, property records show. It spans 480 square feet, features one bedroom and one bathroom, and sits on a 0.15-acre parcel.
“Lots of Potential on this nice sized lot! Large Storage Shed. Sold AS IS where is. Seller will not make any repairs,” its listing on Zillow declared.
It sold well below the asking price of $90,000.
The house, near the intersection of Las Vegas and Lake Mead boulevards, was built in 1942, county records show.
7 Falcon View Court
This suburban mansion traded for $14.5 million in December, property records show. It spans 14,464 square feet, has six bedrooms and nine bathrooms, and features “too many amenities to list,” its listing on Zillow stated.
Built in 2009, the ultra-luxury home sits on a 1.65-acre lot and features motorized, glass pocket doors, a “peninsula breakfast nook,” a porte cochere, a wine room, a theater room, a swim-up bar and a “water screen feature that simulates diamonds falling from the sky,” the listing declared.
Still, a question remains: Who bought it?
Property records show that LV Raiders LLC, a California-registered holding company, purchased the house, but it’s not clear who exactly is behind it.
California records indicate the entity is overseen by two Bay Area professionals who work with wealthy clients: San Francisco attorney Meredith Bushnell, co-chair of law firm Venable’s West Coast estate planning group, and Christie Kong, manager with the family office services group at accounting firm Frank, Rimerman + Co. in Palo Alto, California.
Bushnell, who “advises high-net-worth individuals on estate planning and wealth management issues,” according to her law firm bio, did not respond to requests for comment.
Kong, whose group handles wire transfers, asset tracking and other services, told me she “can’t release any information” on the buyer, who, she confirmed, is her client.
Listing broker Ivan Sher, of Berkshire Hathaway HomeServices Nevada Properties, said in an email that he “signed a confidentiality agreement with the buyer so there is nothing new that I will be able to share.”
The seller, Sherrie Lynn Hale, declined to comment on the house or who bought it.
“I don’t want to disclose any of that information,” she told me.