Another Low Blow To The Las Vegas Condo Hotel Market

In America and maybe around the world at the moment there is a whole bunch rumors and half truths floating around about the Las Vegas High Rise Condo & Condo Hotel market. There has been weak lawsuits filled, incompetent speculators making a lot of unnecessary noise about their mistakes, and mis leading article's one after another from the media about what is actually happening in the Las Vegas High Rise Condo & Condo Hotel markets. It's time to clear the air about what is going on and make a few things clear about what is happening here in Las Vegas. First off i want to talk about the lawsuits that have been filed and talked about over and over again. Owners of Condo Hotel units at The Signature At MGM are saying they are not receiving a certain % of compensation they were told they would for renting out their units through MGM's nightly rental program. If the disgruntled buyers are correct in their allegations and have proper documentation stating that the Signature sales staff promised a certain return to them then they might have a good chance of winning their cases appeal. If the upset owners have the documentation that shows a promise to them in writing from MGM for a certain % of compensation they should have, in my opinion, already won their cases and not had to take it to the supreme court. In the lawsuit they state that buyers were lead to believe they would receive a higher nightly rental rate from exaggerated sales pitches. If this is true, the buyers were not represented properly by their Realtors, this should be a lesson to everyone who is looking to purchase any type of Real Estate "Make Sure You Have Proper Representation When Purchasing Real Estate".

The Las Vegas High Rise Condo & Condo Hotel market is doing just fine and is continuing to become more and more popular by the day. People from around the world have come to Las Vegas to purchase a piece of our new skyline plopping down tens of millions of dollars to have their own luxury Las Vegas High Rise Condo or Condo Hotel. The media must be blind to all of the construction in the Condo Hotel sector here in town because it seems to me a large majority of what is currently being built is Condo Hotel properties. You have Vdara at MGM's City Center and Fontainebleau which will both be completed in 2009 adding more than 3500 Condo Hotel unites to our market. Trump International recently had it's official opening and is closing escrow on many of it's units as we speak which will add over 1000 more Condo Hotel units to our market here in Las Vegas. So why does every one think that Condo Hotels wont last here in Las Vegas, honestly i don't have a clue, maybe they really believe the city with the highest room occupancy rates in the country can't fill the rooms, i don't know. I do know that High Rise Condos & Condo Hotels are defiantly here to stay in Las Vegas no matter how bad the media makes them sound.

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