Las Vegas High Rise Condos are now more affordable than ever before. Sky Las Vegas is one of the premier High Rise Condo developments here in Las Vegas. Many savvy High Rise Condo buyers have recently hit the Las Vegas Real Estate scene with one thing in mind and that is buying as many Las Vegas High Rise Condos as possible.
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This is the latest Las Vegas Real Estate Market Report from www.NARREIA.com (National Association of Residential Real Estate Investment Advisors). For the week of July 29, 2009, data is obtained from the Greater Las Vegas Association of Realtors MLS.
To view the full Inventory Report CLICK HERE
Available – 2,874 (-21 , Last Week 2,895
Under Contract – 2,549 (+42 , Last Week 2,507
Days of Supply – 34 (-1 , Last Week 35
Short Sales – 2,478 (+32 , Last Week 2,446
For More Information on Las Vegas Real Estate contact Makea Turner REALTOR, Certified Short-Sale Professional With Realty One Group (702) 542-1883 or you can email me TurnerMakea@cox.net You can also visit my website http://www.BuyOrSellLasVegasForeclosures.com
http:www.TheView99lv.com
Since January 1st the Las Vegas High Rise Condo market has had 20 re-sale transactions. Half of those sales were in developments that are strictly residential and the other half were from Condo Hotel developments like MGM’s Signature Towers. The new year has brought many challenges for our city to over come. Foreclosures have swept the valley leaving no community untouched. As previously reported there has been an increase in Bank Repossessions in our High Rise Condo market which in turn has made prices drop significantly making it an awesome time to purchase. Out of the ten strictly residential High Rise Condo re-sales 7 were bank owned properties which had an average Days On Market of 90 days. The 10 Condo Hotel re-sales that were recorded had 7 Bank Repossessions as well with an average Days On Market of 51 days.
These numbers may not seem like the best in the world considering the amount of inventory that is currently for sale on the High Rise Condo re-sale market. One thing that I can say I see happening in the near future is that a wave of Bank Owned High Rise Condos will hit the market with prices that will be close to the prices that we are seeing REO High Rise Condos listed & selling at currently. Some may say that prices will continue to drop even lower in the next couple of months but I feel that we should see a huge increase in interest in our High Rise Condo market which will bring back the demand for these types of properties meaning that prices will start to rise. I can not speculate on a specific time frame of when the demand and prices will start to rise but from my professional view point I can say that interest is rising while more and more REO High Rise Condos come on the market with prices that can’t be ignored.
The down side to buying a REO High Rise Condo here in Las Vegas is that you run the risk of not having the best view. Yes Bank Owned High Rise Condos are allot more affordable than traditional High Rise Condo re-sale unites but if you want a certain view or specific unite style you may come up short with a Bank Owned High Rise Condo due to that fact that the REO High Rise inventory is substantially less than traditional re-sale High Rise Condos. Unlike the single family housing sector here in Las Vegas Bank Owned High Rise Condos do not surpass the traditional sales on the re-sale market. Thats the latest Las Vegas High Rise Condo news for you so learn and enjoy.
Las Vegas M-Resort Opening-New Video
A brand new luxury resort is opening it’s doors during the worst economic crisis this country has seen in decades. First Aliante Station then Encore now M-Resort by Anthony Marnell. The M-Resort is strategically located on the far south strip at St Rose & Las Vegas Blvd on 90 acres. It will be interesting to see how this casino performs in it’s first year of operation considering the horrific economic condition this nation is in. I am sure if the M-Resort can survive it’s opening year they should be just fine in the future and the same goes for the rest of the resorts that were opened in this time period in history. Check out the video below to see the M-Resort and hear what they’re plans are for this luxurious Casino Resort on the Las Vegas Strip.
Condo hotels have had great success and failure through out the United States with in the last decade or so. New to Las Vegas Condo Hotels offer a unique way for investor and vacation home owners to take part in some of the action and receive some awesome results. Currently we have 4 major Condo Hotel opportunity’s here in Las Vegas and each one has it’s pros and cons. They are Trump International Las Vegas, Palms Place, The Signature At MGM, & Platinum. Each are beautiful and amenity rich but which is the best right. Well in my opinion they are all the best each in their own ways. I have been able to locate a couple of videos on a few developments mentioned above.See what the media and actual owners say about these Condo Hotels. Contact me today to learn more about how you can take advantage of the amazing opportunity’s that Condo Hotels offer to owners by calling me directly at 702-542-1883
or click here to send me a e-mail.
I mentioned yesterday that I would be reporting hardcore this week about how I am on a mission to clear the air of all false accusations & bad reporting. Las Vegas is definitely in challenging times when you speak about the single family home market. Over half of the inventory on the re-sale market is either foreclosed homes or a property that is a short sale. Don’t get me wrong there are great deals to be found in these style properties,(if you can wait 6 months before getting a response some times you may get a response sooner) but some of the more lucrative opportunity’s in town have been passed over, reporting wise, by our local professionals. I specialize in the Luxury High Rise Condo market here in Las Vegas and I can’t believe what some people who call themselves Real Estate professionals have been trying to say about our beautiful & strong High Rise Condo market. There has been one outrageous claim after another made about the High Rise Condo market here in Las Vegas this year but none seem to pan out. Below I have included a list of the most ridiculous claims brought against our amazing High Rise Condo scene that I have heard or caught wind of. Every single claim holds no weight or truth towards these developments: Trump International, Palms Place, The Signature At MGM, Sky, Platinum, Turnberry Place, Turnberry Towers or Panorama Towers. How might I know that the claims below are un-true for these developments you may ask, and that is because I took the time today to call and personally speak with each developments HOA departments. All the questions below were brought to each developments HOA’s attention today and were laughed at by the representatives I spoke with. It was more of a “are you serious” tone I got from each HOA department because they couldn’t believe these things were being said.
The Most Outrageous Claims About The LV High Rise Market
#1: There is a huge number of home owners not paying their HOA fees which is driving the HOA into bankruptcy.
#2: There is mold & vomit stains through out the hall ways.
#3: The development has drained the pools because home owners are not paying their HOA fees.
#4: Developments are trying to cut cost by not fully illuminating their hall ways. (Only turning on half of their lights)
#5: Residents are having to maintain the developments landscaping due to home owners not paying their HOA’s
#6: Residents are taking turns with the shifts at the guard gates because home owners aren’t paying their HOA’s
If you so happen to come into contact with the people making these false claims what should you do you might be thinking, RUN FAST & FAR, before you end up falling victim to their misleading ways. I have not included the links to the video’s or reports that made these claims because Iwill not contribute to the un-truths or entertain these types of lies for the simple fact that they cause damage our local High Rise Condo Markets reputation. Things are doing just fine here in th Las Vegas High Rise Condo market and to date we have had 20% more High Rise Condo closings Than all of last year combined and we still have 5 months to go.
Over the last few months the media has been trying to for some reason discredit the Trump International Las Vegas property. I can’t believe some of the things I’ve been hearing lately about Trump & the whole Las Vegas High Rise Condo market, it’s just ridiculous and must STOP! This week I will be reporting on things that should get more coverage than the BS they blast all over the air waves and smear on the front pages of their newspapers. Don’t get me wrong the internet is becoming just as bad as the main stream media, but you’ll hear more about that this week. Trump International Las Vegas is a fantastic property that has done very well considering the tightening of lending restrictions and the subprime fiasco. I have not purchased a Trump International Condo Hotel unite but i have watched Trumps Las Vegas
masterpiece become a reality in an almost flawless effort. Although escrow is being closed on Condo Hotel unites at Trump International there remains very few on the re-sale market signifying buyers have bought at Trump International Las Vegas with the intention of hold on to their properties instead of flipping. Trump International Las Vegas has defiantly introduced the Trump style to us all here in Vegas and in my opinion i feel people are welcoming him with open arms minus the few skeptics & non believers. Check out how the media first reported on the latest information from Trump International Las Vegas & then watch how Donal Trump handled it in true Trump style. Keep up the good work Mr Trump and continue to build amazing standard setting towers around the world.
Check out what the mainstream media has been covering about the Las Vegas High Rise Condo market from the beginning of this year to date. The mainstream media likes to discuss the negative side of things more than the positive, how do you feel about the coverage the Las Vegas High Rise Condo market has received? Hope you enjoy and feel free to comment or e-mail me turnercbw@yahoo.com. CLICK HERE to view videos
I have expressed my feelings about the main stream media not reporting good news about the High rise condo market in previous posts but i have to say today i was very impressed on how well written the article title ” FULL SPEED AHEAD” by
