NBA center DeMarcus Cousins and Rick Harrison, the star of Pawn Stars on the History Channel, have sold their homes in Las Vegas as the valley’s luxury real estate market stays hot for more than two months after 2021 and prices rise.
Cousins sold his Las Vegas mansion on 2 acres for $ 7.5 million. This was the second most expensive sale of the year, which closed on March 18th. The most expensive sale that year was a home on The Ridges, Summerlin, for $ 8.25 million.
Harrison sold his two-story, five-bedroom home in the Red Rock Country Club for $ 3.15 million. The deal ended on March 19th.
Sales had not yet been recorded by Clark County this week, and the names of the buyers were not available.
Cousin’s former Mediterranean-style house is located in the exclusive Queensridge enclave with its 12 houses. He sold it for $ 1 million, more than the $ 6.5 million he paid for it in October 2017. Cousin launched the mansion for $ 8 million.
The sale comes almost a month after the Houston Rockets released cousins who are now a free agent. Prior to his release, Houston guaranteed his $ 2.3 million contract for the remainder of the season.
Harrison’s home at 2556 Red Arrow Drive is located in the Red Rock Country Club in Summerlin. It measures 8,845 square meters. When Real Estate Millions unveiled the house in March 2019, it was listed for $ 4 million.
The 8,845 square foot home is located in Red Rock Estates’ own gated community in the Red Rock Country Club. Harrison bought the house, which was built more than five years ago in 2001, but when his six children grew up he said he no longer needed the space and had found a new home.
The Red Rock House overlooks the golf course and mountains and has a theater that seats 12. Playroom with bar counter and balcony; Gym; Backup generator; Air-conditioned garage for 11 cars; Wine cellar with more than 400 bottles; Resort-style back yard with kitchen and BBQ area; Pool bath with steam shower; and lagoon-style pool with a lazy river and waterfall. The house has a separate air-conditioned solarium with a glass wall that opens to the back yard.
Zar Zanganeh, broker and owner of LUXE Estates & Lifestyles, was the listing agent. Christine Thomas from Realty ONE Group was the buyer’s representative.
The house of the cousins
The Cousins two story home, 9511 Kings Gate Court, has 10 bedrooms, 12 bathrooms, and a four-car garage. It was built in 2003 and measures 20,120 square meters.
Cousins’ real estate agent, Realtor Bob Barnhart of Luxurious Real Estate, said the property resembles a Beverly Hill estate and describes it as “modern luxury meets Mediterranean” after Cousins spent more than $ 1 million on the renovation had. Barnhart also represented a California buyer, a business owner, whose name is not listed in the transaction. It’s listed under a trust, he said.
The mansion has a Porte Cochere entrance, a canal drive and an engine place on the property.
A three-quarter indoor basketball court with a scoreboard on the main level was in place before cousins bought the house, but it can be upgraded into an eight-car garage, Barnhart said.
The main level has a gym, movie theater, billiards room with extensive wet bar, sports media room, two bedrooms, two offices, den, formal dining room, formal living room, and a great room that includes the kitchen, family room and the Breakfast nook covers.
“When you go into the house you have the great foyer and 30-foot ceilings and a great fireplace,” said Barnhart. “Everything looks out onto the resort’s pool. It has lots of large sliding doors. “
The back yard has a two-layer resort-style pool and spa with a waterfall, as well as a guest house with a private pool and kitchen. The back yard has a walkway around the perimeter, he said.
Upstairs there are two master suites, with the main master having a separate living room with a fireplace. There are three more bedrooms. Most of the upstairs rooms have their own balcony. The floor is accessible by an elevator and other rooms can be used as an office or study, Barnhart said.
Cousins changed the house’s color scheme with paint, wallpaper, and flooring, Barnhart said. Most of the older colors were brown and cream, but they are now white and gray as the market demands, he said.
“They went through the entire kitchen updating the cabinets and countertops,” Barnhart said. “They added a saltwater aquarium. Many of the various television walls in the family room and media room have been changed. Even the games room and the pool guest house have been renewed. “
The master bedroom and bathroom have been extensively renovated and finished in spa quality.
“You wouldn’t see the changes from before,” said Barnhart. “It is this Mediterranean house that fulfills this modern flair of fit and finish. It looks sharp and dynamic. “
The house’s carpeting was changed from brown to gray, and white and gray stone and man-made stone were installed in the main bathroom to replace travertine tiles.
Barnhart said Cousins is diversifying its US real estate portfolio and still plans to bring Las Vegas home. He said he would buy or build another house here.
Luxury market outlook
The luxury resale market remains hot in early 2021 after a record year in 2020. As of the end of February, there were 192 home and condo sales for over $ 1 million and 251 pending sales. According to Forrest Barbee, a realtor at Berkshire Hathaway HomeServices, the average home sold in February was on the market for 62 days and the average price was $ 1.91 million.
As of February 2020, there were 93 sales and 126 pending sales. The average home sold in February 2020 was $ 1.69 million and the average number of days in the market was 114 days, according to Barbee.
“This is the best time I’ve seen luxury homes sell in this market,” said Barnhart. “We have very little inventory and sales are very competitive. It shows you the strength of the market that despite a cash buyer and 15 days prior to closing, someone would write (another) offer for that house. “
Barnhart said the luxury home inventory remains limited. “And that means the market is extremely hot and when everything is open again, from the congresses and the Raiders Stadium, and we are at full capacity, which I hope will be soon, I think.” There is also another crisis in the luxury real estate market. “
Luxury realtor Tom Love, broker and owner of the Tom Love Group, said he had never seen a market like this in the 33 years he has sold real estate in Las Vegas. The luxury sales pace is even better than in the second half of 2020.
“You’re putting a property on the market and interest rates are pointing to the moon,” said Love. “People are writing multiple offers, even in the range of over $ 1 million. It’s like nothing I’ve ever seen before. It’s a great time to be a seller. “
Love said that not only do they see people moving out of the state, but also local residents moving up because interest rates were in the 2 to 3 percent range and they benefited from stock market profits.
“The biggest problem was the lack of inventory,” said Love. “We don’t have enough offers to meet buyer demand that we have. That is why the prices are rising. The secret is that if you want to buy a house you have to pay the highest dollar for it because there are currently no offers on the market. “
Highest sales of 2021
The most expensive sale of 2021 was for $ 8.25 million on 23 Hawk Ridge Drive in The Ridges in Summerlin. The two-story, five-bedroom home with a seven-car garage measures 10,933 square feet. Sales closed on February 10th.
“It’s a contemporary home with beautiful and stunning large rooms, a fantastic, great space, and breathtaking views of the Strip,” said Ivan Sher of Berkshire Hathaway HomeServices, the listing agent for the property. “There was an attached guest house that they used as an office. The garage had an elevator option so you could double the space. “
Sher said the luxury market continues to be strong, describing how everything sells and prices go up with low inventory.
“We’re still getting a lot of action from California, but the local market is also starting to pick up,” said Sher. “It’s not slowing down at all and there is an influx of more than $ 10 million in buyers. That means more people are looking for homes costing more than $ 10 million than I’ve ever seen in the city. There is enough to bring people here. “
Natalie Cornejo of Berkshire Hathaway Home Services was the buyer’s agent for Stephen and Dawn Hutchison, according to County Records. Kevin Hooks was the seller.
