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Monday, September 29, 2008

This Is More Important Than Our High Rise Condo News

Bail Out or Hand Out? That is the ultimate question at the moment isn't it. This question is the most important question of our time that needs to be taken seriously and not just brushed off. Our elected officials who are suppose to voice the concerns for the masses have become completely contempt about this who song and dance that is occurring. Our markets are in turmoil and greed is surpassing the American way. It is time we stood up for ourselves and put a stop to the nonsense that Washington and Wall Street have both taken part in over the years. This bail out bill or amendment or piece of toilet paper what ever you prefer to call it will destroy our country and brings us into a depression unlike any other. The dollar is at it's weakest point, Large Banking institutions are failing, foreclosures across the board are sky high and it seems that the American people are more worried about the next lie to come out of Mccain or Obama's mouth. Both of the presidential candidates have had hundreds of thousands if not millions of dollars given to their campaigns by the same banking institutions and corporations that are falling apart and destroying our economy. Why should we support these two candidates who have been supported by special interests & untrustworthy corporations for their entire campaigns? I hate to write about the negative and would prefer to stay on point and discuss Las Vegas Luxury High Rise Condos but there are so few of us in the Real Estate industry and country for that matter who understand what is happening, I felt compelled to write briefly about what devastations we are facing as a country if we don't snap out of this daze we are in. Below are a few videos that will show you that our entire Congress is not corrupt with greed and that there still are some true American patriots who have our best interest at heart. Please pay attention to the videos because these people are trying to save our Country from total destruction from with in & they need our help.













Monday, September 22, 2008

REO Las Vegas High Rise Condo Sales 08


With in the year of 2008 there have been 9 Las Vegas High Rise Condos that were REO(Real Estate Owned or Foreclosure) listings that sold. The nine REO High Rise Condos that sold were from 5 separate developments Panorama Towers, Platinum, The Signature At MGM, Metropolis, & Turnberry Place. The blow table can give you a better understanding of the numbers for these sales. I have also included a link to a chart that shows the same properties side by side. Foreclosure offer an amazing buying opportunity for the right buyer with certain needs but foreclosures are definitely not for every buyer. It takes a knowledgeable Realtor who understands the market to negotiate the best possible deal for buyers when purchasing foreclosed properties. Enjoy the information and do not hesitate to e-mail me your questions whether they are big or small.

------Bd-- Bth ---SQFT----- LP------------ SP
High-- 3 ---5 -----4007 ----$189900 -----$1905000
Low --1--- 1----- 520 ------$319500----- $293800
Ave --2--- 2---- 2004 -----$717622------ $672672
Med --2--- 2 ----2050----- $599900----- $550000

Click Here For Chart

Tuesday, September 16, 2008

Las Vegas High Rise Condo 08 Summer Sales Are In & It Was A Hot One



Today I though I would put together a few graphs that illustrate the sales at Panorama Towers 1&2, The Signature At MGM, & Turnberry Place, which by the way were the top 3 selling developments for the summer of 08. As you can see by the graphs and information below, LV High Rise Condo Sales prices are just a fraction off from list price. In the Last quarter of this year you can expect to see sales continue to increase with a slight dip in prices due to more High Rise repo inventory that will be coming onto the market in the next couple of months. There are definitely some awesome deals on the market at the current time but there are also some sucker beats as well. This is an extremely tricky market we are in at the moment and as the year ends thing will only become more complicated but lucrative as well. For the right buyer Las Vegas High Rise Condos present an extraordinary opportunity that if not seized will soon disappear. Thanks for reading and i hope this information sheds some light on the negative headlines that are flying around out their while providing you with the knowledgeable LV High Rise Condo Information you want & need.


Green=List Price
Red=Sold Price
Blue Line=Days On Market
Click Here For Panorama Towers Summer 08 Sale
--------Bd-- Bth ---SQFT ---Lp ---------SP
High ----2 --3----- 2406 ---$1200000-- $960000
Low ----1 ---2 -----732---- $319000---- $290000
Average 1 ---2---- 15413-- $649652----- $590047
Median -2-- 2 -----1463--- $535000----$515000




Green=List Price
Red=Sold Price
Blue Line=Days On Market
Click Here For The Signature At MGM Summer 08 Sales Graph
---------Bd-- Bth--- SQFT--- Lp--- ----SP
High ----1 ----2 -----874 ---$599000-- $580000
Low ----0---- 1----- 520--- $304900-- $300000
Average- 0--- 1----- 595--- $3798066- $367357
Median -1---- 1----- 520 ---$357450-- $355000




Green=List Price
Red=Sold Price
Blue Line=Days On Market
Click Here Turnberry Place Summer 08 Sales Graph
-----------Bd-- Bth---- SQFT--- Lp --------SP
High ------3---- 5------ 4130 --$2995000-- $2600000
Low------ 2 ----2------ 1556--- $443000--- $443000
Average --2 ----3------ 2603--- $1273036-- $1125264
Median --2---- 3------ 2195--- $850000--- $715000

Monday, September 15, 2008

Las Vegas High Rise Condo News Back In Action


WOW! It's been a few weeks since i have reported on the Las Vegas High Rise Condo market and it's activities but now we are back in action. Allot has happened since i reported last, such as MGM's City Center has pretty much secured all financing for the multi billion dollar strip development which will provide Residential (Veer Towers-The Hormon-The Residence At The Mandarin Oriental)renderings as well as condo hotel opportunities (Vdara,). I don't find this to be to big of news considering the last report i did on this topic stated that MGM should have all of if not the majority of it's financing completed and secured by mid September. Another topic that has people talking across the board is the first joint venture the Sands Corp. has entered with the St.Regis brand and it will be called St. Regis Residences at The Venetian Palazzo. These condo units will be very expensive but will be a standard setting residential High Rise on the Las Vegas Strip. Rumors that have been floating around say that pre construction buyers of Condos at the St. Regis Residences at The Venetian Palazzo will have the opportunity to purchase their condos fully furnished or un furnished. The Cosmopolitan Condo Hotel Venture directly next door to MGM's Multi Billion Dollar Development City Center has had the foreclosure process finalized by Deutsche Bank. As reported on previously by myself and others this was just waiting to be completed so that the development can pick up the pace towards completion with out hurting buyers of condos in this development.

Pricing on available inventory of Las Vegas High Rise Condos has come down some on the re-sale side but the developments that are not yet completed continue to sell residences for prices way above what the current re-sale inventory is offering. This means that you can expect the prices we are seeing now on re-sale High Rise Condos to disappear rapidly in the next few months as we near completion on several big named developments like MGM's City Center & The Cosmopolitan. Now is defiantly one of the biggest opportunities Las Vegas High Rise Condos have ever presented for several reasons, one of which is that most of the speculators of the LV High Rise Condo market are exiting either on their own or are being forced to do so through foreclosure. This makes for a perfect buying situation on the re-sale side because sellers are motivated and banks are even more motivated due to our country's current financial markets meltdowns. For more detailed information about the Las Vegas High Rise Condo market and all of it's current opportunities please contact me by via -email HERE or call me direct at 702-542-1993. Please continue to read & subscribe to my blogs to receive knowledgeable information concerning the Las Vegas High Rise Condo & Housing markets.

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