Just a little over 30 days into the 2012 and there have been over 55 Vegas high rise condos sold according to the MLS. That is roughly 2 condos sold each day here in Las Vegas. The most active high rise condo community in regards to sales is still MGM signature condo hotel, which means that owners have an opportunity to enroll their condo into the hotels rental program to offset some of the owners carrying cost. Many buyers were able to purchase in this community for as little as $135K, which is an amazing opportunity when considering these same condos once sold brand new for over 500K just 6 years ago.
Many people ask why there are so many condos on the market, what is wrong with them & why are the prices so low? Fist off there really isn’t that much Las Vegas High rise Condo inventory compared to this time last year and in reality there is actually allot less available than people realize. Second thing to address is the question of whether or not Las Vegas High Rise Condo developments have issues, making them a less desirable property to invest in. This is a catch 22 because there are some very sound safe developments around town and some not so safe or sound developments which is why anyone considering purchasing a Las Vegas High Rise Condo needs to seek competent representation before moving forward to avoid any complications that could arise from not being fully informed about a development. Last but not least let’s address the question concerning the low price points of Las Vegas high rise condos. This is not as it appears either because in certain Las Vegas High Rise Condo developments we have seen isolated pockets of appreciation which is cause d by many different factors such as less bank repos, no short sales, quick flips investors and developers still holding inventory.
Anyone entering the Las Vegas High Rise Condo market needs to be well informed about the past, present and future of the Las Vegas High Rise Condo market to ensure they have the highest chances of being successful. I have been in the heart of the Las Vegas High Rise Condo scene since its conception and will continue to have my finger on its pulse. For all of you interested in discussing the Las Vegas High Rise Condo Market in greater detail please feel free to give me a ring at 702-542-1883 or shoot me an email to TurnerMakea@gmail.com. Thanks for stopping by and reading today’s post and be sure to subscribe to this blog before you leave to make sure you stay up to date with all the latest happenings in the Las Vegas High Rise Condo market. Don’t forget to share today’s post with your facebook and twitter friends also.
Not everyone can pay cash…this also drives down the prices even more since there are not as many buyers out there for this styleproperty
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Attention all Las Vegas Short Sale candidates! Get the Las Vegas Short Sale help you deserve today! Makea Turner is a Las Vegas Certified Distressed Property Expert who has been trained to guide you through the short sale process to a successful end. Visit Makea Turner's website today to grab her latest FREE report "Tipping The Scales Towards Foreclosure". Get this FREE report today by by visiting my website http://tinyurl.com/Las-Vegas-Short-Sale-Help-2day Make sure you subscribe to Makea Turner's youtube channel http://www.LasVegasREtv.org to stay up to date with the Las Vegas Real Estate market. If you need immediate assistance call Makea Turner direct at (702) 542-1883
This Stunning Trump studio offering breathtaking south strip back drop accompanied by a luxurious signature Trump pool as it's view. With 534 sqft this well appointed luxury studio provides a single bathroom with onyx throughout and a in mirror HD flat-screen TV.
Fine linen and sophisticated furnishings provide a comfortable yet luxurious flow throughout the unit. Once you take advantage of this unique opportunity you can offset some of your carrying cost by taking advantage of the condo hotel program the Trump brand operates and manages. Own this exclusive Trump Tower Luxury Studio today. This property is not a distressed asset and unit is NOT facing or in Foreclosure...for addional property information visit http://tinyurl.com/3qxpsk9 or call Makea Turner with Keller Williams Realty Southwest to set up a private tour (702) 542-1883
As of September 9 2011 there have been a total of 640Luxury high and mid-rise condos sold under the verticalcategory on the Las Vegas MLS. There are 378 condos currently available on the resale market here in Las Vegas under the Vertical category on the MLS as well. This is important information for those who are considering buying a Las Vegas Luxury High Rise condo for either a main residence, second home or investment. The inventory has decreased drastically from this same time last year and in some high rise condo buildings we have even seen the sales prices increase. Buildings that were once flooded with distressed condos have now emerged and are experiencing increases in their sales prices. The increase in sales prices for High Rise condos here in Las Vegas is not much when considering how low home values have decreased over the past few years during the economic down turn. Re-sale inventory is not the only inventory available currently in the High Rise Condo sector of the market. Some High Rise Condo developments still have inventory but a lot of the communities with 80% or more of the units unsold have started leasing there inventory until the market turns around. From bank owned, to short sale and new builds you have it all when seeking to purchase a Las Vegas High Rise Condo. When you purchase a Las Vegas High Rise Condo you need the right representation on your side to ensure the transaction goes off with out a hitch. Allow me to provide you with formation about the La s Vegas Luxury High rise condo market or a list of available condos in your desired community by giving me a call direct (702) 542-1883 or shoot me an email to turnermakea@cox.net what ever is more convenient for you. You can search all available Luxury High Rise Condos by visiting www.LasVegasSkylineProperties.com
I wanted to take a few minutes to share some interesting info on the Las Vegas Real Estate market with you. The most common question that I get is “why should I buy real estate in Las Vegas now when it appears that the home values are continuing to fall? First things first, to determine where the bottom of a market is you will have to have already passed it in order to recognize it as the absolute bottom. In other words you don’t see the bottom until you’re making the climb back up. Another question that I get is “when will home prices beginto appreciate again?” I can’t answer that question as I do not predict the future with a crystal ball but I can say that some areas in town have shown positive changes in values from 09 to 10. Investors have to change their mindsets in today’s market as the untraditional ways of investing in RE are dead and investors are now forced to practice the time tested investment model of buy, hold and then sell at a predetermined time.
Buyers in this market should plan to hold their investment for a minimum of 5 years to allow the market time to correct it self. To give you an examples of the cash flow opportunities that are available. Right now there is a 1 bedroom condo available near Summerlin near freeways, shopping etc and its only going for $29K. This condo is currently rented for $600 per month, property taxes, HOA, management, insurance and other expenses run you about $2900 annually. Annual income for this property rented over a 12 month period at $600 will bring in $7,200. Annually that is a return of 14% on your money. For more information about the Las Vegas Real Estate market feel free to call me direct (702) 542-1883 or send an email to turnermakea@cox.net for a copy of the Las Vegas Home Appreciation Rates Report follow to the link below and watch the short video to find out how you can get a FREE copy today!http://www.youtube.com/watch?v=u_eYjZaQjr8&feature=channel_video_title
Valet Parking, Walking Distance To The Las
Vegas
Trip, 24 Karat
Gold Building,
Studio/1BA Condo
offered at $219,000
Year Built
2006
Sq Footage
534
Bedrooms
Studio
Bathrooms
1 full, 0 partial
Floors
4+
Parking
None
Lot Size
Unspecified
HOA/Maint
$365 per month
DESCRIPTION
You won't see this anywhere else. This is an exclusive opportunity that won't last long. Check out this gorgeous 16th floor Trump Tower studio. This stunning Trump studio offering breath taking south strip back drop accompanied by a luxurious signature Trump pool as it's view. With 534 sqft this well appointed luxury studio provides a single bathroom with onyx throughout and a in mirror HD flat-screen TV.
Fine linen and sophisticated furnishings provide a comfortable yet luxurious flow throughout the unit. Once you take advantage of this unique opportunity you can offset some of your carrying cost by taking advantage of the condo hotel program the Trump brand operates and manages. You can not find information on this particular unit any where else and it is not listed on the Las Vegas MLS. Own this exclusive Trump Tower Luxury Studio today. This property is not a distressed asset and unit is NOT facing or in Foreclosure. Visit http://2000fashionshowdr1605.canbyours.com/ Or Text "136254" To 79564 to view additional photos virtual tour, whats nearby and more...
The Martin is located on Dean Martin rd just west of the I 15 freeway. This building is 45 stories with over 370 condos with breath taking views from each high rise condo residence. The location and views alone are my favorite features at The Martin. When it comes to fine dining, shopping and entertainment the Harmon overpass provides a quick and convenient way to get to the heart of all the action of the world famous Las Vegas strip. The Martin provides multiple and convenient ways to travel the city via freeway of surface streets. The Martin is a strictly residential high rise condo tower which offers more stability in the residents occupying the tower and is not as faced paced as a community with different guest coming and going each day. Another great feature of the Martin is the turnkey furniture package options that are available for those who are looking for a professionally decorated move in ready high rise condo overlooking the beautiful Las Vegas Strip skyline. Condos at the Martin range from 1,035 sq ft to over 1,900 sq ft. The Martin also has several penthouse units available. Prices for luxury high rise condos start in the mid 200K range. For additional property information, a list of available condos or to set up a private tour call Makea Turner with Realty One Group (702) 542-1883
Check out this beautiful 3 Story Las Vegas Home for sale located on the edge of Southern highlands. This spacious Las Vegas home for sale offers 3 levels of living space with tile flooring, stainless steel appliances, granite counter tops, 3 bedrooms, 2.5 bathrooms and over 1500 square feet of living space. Built in 2007 this awesome Las Vegas Home for sale provides convenient access to freeways, shopping and schools for all grade levels. Take in the beautiful views of the west rocky mountain range from your 3rd level bedroom after a long days work. This Las Vegas Home for sale is priced to move. Not a short sale or bank owned listing. Home comes with a 1 year home protection plan. For more visit http://longoriagardenst.canbyours.com information, TEXT "14267" to 79564
Its only 18 days into the New Year and we have seen 38 Luxury High Rise Condo and Condo-hotel sales recorded on the Las Vegas MLS. The median sales price is $161,000 and the highest priced Luxury High Rise condo sold was for $429,900. 13 of the high rise condos sold were non distressed, 18 were short sales and 6 were bank owned listings. Another thing that was interesting was 35 of the 38 total condos sold were sold cash. The most active High Rise Development is The Signature at MGM Grand which had a total of 16 condos sold In the first 18 days of 2011. The Signature at MGM Grand is a Condo-Hotel Community. A Condo-Hotel is a condo community that is used both as a hotel and condo community. The community also has onsite management offering an optional rental program which allows the homeowner to enroll their condo into a rental pool managed by the hotel to offset some of the homeowners carrying cost. Below I included a table detailing information on the number of condos sold and the median sales price for each Luxury High Rise Condo and Condo-Hotel Community. It will be interesting to see how well the Luxury High Rise Community will do In the months ahead. Continue to visit my blog or subscribe to my YouTube Channel LasVegasREtv.org for all the latest Las Vegas Real Estate news and information.
High Rise Development, #Sold Median Sales, Price
Allure 4 $169,000 Metropolis 0 N/A Newport Lofts 1 $159,000 One Las Vegas 1 $129,999 One Queensridge Place 0 N/A Palms Place 0 N/A Panorama Tower North 0 N/A Panorama Towers 1 & 2 6 $213,150 Park Towers 0 N/A Platinum Hotel 1 $79,900 Regency Towers 0 N/A Sky Las Vegas 3 $292,000 Soho Lofts 2 $158,450 The Signature at MGM Grand 16 $152,500 Trump Tower International Hotel 1 $145,000 Turnberry Place 2 $302,500 Turnberry Towers 1 $429,900
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