June 6, 2022 - 11:23 am
The Las Vegas developer, who built the Las Vegas homes of one-time Los Angeles Laker Jordan Farmar and former Sacramento Kings and Palms co-owner Gavin Maloof, has completed a Southern Highlands spec home built for entertaining and is offering the buyer a Tesla worth up to $100,000.
Domanico Developers’ two-story transitional contemporary home at 15 Fire Rock Court in a guard-gated enclave in Southern Highlands Golf Club is listed for $5.29 million.
In addition to the Tesla to put in a four-car garage, buyers also get $100,000 for a furniture allowance. The home is staged with furniture from Staged To Sell and can be acquired by the buyer.
Listing agent Ernie Domanico Jr. a broker/salesperson with Desert Trail Realty, said the incentives are part of a creative marketing strategy.
“If the buyers already have a Tesla, we can just credit them $100,000 and they can do whatever they want with it,” Domanico said. “We are trying to do something new to grab people’s attention. Electric cars are a big thing and everyone that goes with electric cars seems to be going toward a Tesla.”
Domanico said the luxury market remains hot with buyers from Southern California. The home has had quite a few showings and was expected to be sold on contingency based on a buyer selling a home in Park City, Utah. That Utah home sale did not go through, he said.
“We increased the price from what it was initially,” Domanico said. “It was $4.895 million but we’ve been getting a lot of action. The supply has been so short and demand is so high. There’s another comp in the community that went under contract for $1,000 a square foot and a list price of $5.2 million for a one-story home. It justifies the increase. We’re at $852 per square foot.”
The home uses stone on its exterior. A soaring double-height great room greets people as they enter. A spacious kitchen that includes a butler’s pantry; and nook area opens up to the great room.
“You see the vaulted ceilings and humongous fireplace mantle that goes all the way up from the floor to the ceiling,” Domanico said. “When you walk in you can even see straight into the pool.”
There are two master bedrooms on each wing of the lower level. Each has a spa-steam shower, walk-in closet and a washer and dryer. Both also have a private trellis-covered courtyard.
The backyard has a swimming pool and barbecue area that are accessed through pocket-sliding glass doors that lead to a covered patio. There’s a fire pit and serving bar to entertain guests.
“One of the best features is that the entire back of this house has pocket-sliding doors that open and gives an indoor and outdoor living to the house,” Domanico said. “The indoor flooring extends to the outside so it’s continuous.”
Off the downstairs great room is a game room that can be used as a theater. It has a serving area and wet bar. It has pocket doors that can open to the backyard, as well. An office is located to the left of the entry of the home. Walking up the stairs on a custom floating staircase are three bedrooms with their own baths.
Michelle Domanico, who supervises the conceptual architectural design and interior selections, said the finishes have an organic feel. There’s light oak cabinetry and light oak stair treads on an open staircase. There’s accents with dark cabinets and dark pop-outs and splashes on tile and fireplaces. There’s ceiling treatments and trellis work that are also a light oak color.
The garage doors are glass. The trellis work on the front and back of the home provides shade and architectural accent.
“The house is positioned on a nice corner lot so you have nice curb appeal from both angles and a lot of parking, too,” Michelle Domanico said. “You have two nice access gates to the backyard that’s set up for entertaining. The landscaping has a zen feel to it with its plants.”
The home is the third that Domanico Developers has built in the Vintage Valley neighborhood in Southern Highlands, including the one for Farmar that sold for $3.5 million in 2020.
Domanico Developers also sold two other spec homes in Southern Highlands over the last two years. They are building two other homes in Southern Highlands. Another on Fire Rock Court will be done in November. That two-story home measures more than 7,000 square feet. Another two-story nearby will also measure more than 7,000 square feet and be completed in the spring 2023.
“It’s all about timing,” Domanico said. “We’ve been lucky that it works very well. When you want to do a spec house, it takes so long to get it drawn up and permitted. That can be anywhere from seven to 10 months. A lot of things can change in a market and economy in that amount of time. That timeline is to break ground and after that it takes another year to build a house. You have to forecast the market and use your experience to predict if the timing will work out in the market.”
Domanico said their goal is to finish out these remaining two spec homes and go from there. They’re watching the market closely despite strong demand, even though rising interest rates don’t affect the luxury market as much as the rest of the market.
“There are some things we are seeing in the economy that we’re just going to finish off these homes and see where the next year takes (us) and go from there,” Domanico said.
“There’s still a shortage of luxury homes. A lot of people from Southern California are trying to relocate here for tax relief, but there’s not enough supply to meet the demand.”
In 2006, the developer built Maloof’s mansion in Southern Highlands that measured more than 13,000 square feet and sold for $10 million. It had six bedrooms, elevator, 10-car garage, pool, waterfall and a putting green.
It’s the house where Lil Wayne shot the video for his hip hop classic “Lollipop.”