Ivan Sher on Vegas’ hot luxury home market — VIDEO

Updated June 12, 2018 - 1:13 pm

Ivan Sher has rebranded his Berkshire Hathaway team to the Ivan Sher Group some 18 months after the death of his partner, Florence Shapiro.

Sher said there’s regulations with the Nevada Real Estate Division that the only names of the team are limited to principals and with her death, he had to change the name of the company.

Sher, who handles luxury real estate, said he has several multimillion dollar deals in escrow as the market continues to be strong. During the first 3½ months of the year, his team did more than $100 million in sales in what is heading for their best year ever.

“We’re slightly ahead of last year and that was the best year we had by 20 percent,” Sher said. “I’m very optimistic about our market. The Golden Knights are so successful early on that it’s brought such a great influx of community support and people outside of Las Vegas interested in us.”

Sher said about half of the buyers are locals and the biggest chunk from out-of-state are from California.

There are even people from other high-tax states looking to move to Nevada where there’s no state income tax and property taxes are lower as well.

About 10 percent are foreign buyers.

Sher said he’s getting clients from Florida even though it has no state income tax. Many are escaping the humidity and weather after last year’s hurricane season.

Sher said the prospect of people moving into homes that are at least 20 years old doesn’t frighten then away.

“That is new to most people, especially to people in California and in New York and Chicago,” Sher said.

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