Hello Michael....
The main question you have not answered is, if the price was right on the MGM condos (even if they are
the cool place to live), why aren't they selling?
Wow that is the best question......
There is an overall general universal consciousness throughout the United States (The Masses)....It is as follows:
"The Real Estate Market is falling apart!"
One of the reasons for this universal consciousness is that the banks did some unwise loan programs to unqualified buyers resulting in the hugh amount of foreclosures. This resulted in a large supply added to the market pool.
When there is too much supply, there is a perception of "No value." and also when banks foreclose this is perceived as "The Real Estate sky is falling and 'I the buyer' don't want to fall too!"
Like for example....there is a plethora of diamonds in the coffers. These diamonds are strategically released to keep the available supply down so that there is a perception of great value so that they may get more $$ for the rock.
Well the banks have unintentionally released all the diamonds from the coffers.
That is one of the reasons we are in the "Buyer's market." BUT THERES MORE ....buyers are watching, as they want more....from where they are sitting, they want and are waiting for the prices to go down even lower, more, more, more. This is making a snowball effect of supply increasing. A vicious cycle and a tug of war.
Michael, this is just one of my viewpoints on an email chat computer screen. Just like all cycles, this one will resolve itself (As to how is another topic) and the cycle will change.
In the meantime, I am successfully selling and closing......I have the universal consciousness that challenges me and creates more work for me.
Michael, all in all, people NEED to live somewhere. Therefore.....NEED = DEMAND.
Hey Michael....look at this cut and paste from NYC...
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Hi Julia..... The prices will range from $1 million-$2.7 million. The residences are on the 33-56 floor providing each owner with unmatched view in Manhattan. Let me know if you have any additional questions.
Regards, Richard | sales associate
W NEW YORK DOWNTOWN HOTEL & RESIDENCES
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Michael.....Las Vegas "The Entertainment Capital of the World" is still a bargain.....AKA "Diamond!!!!!"
Have a great day Michael! Julia at Liberty:)
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