*** Las Vegas & Henderson Homes and Condos ***

Reduced!!! Priced at $550k - 33rd floor 2 Bedroom Beauty at Allure Las Vegas

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High Rise Condos are all about the VIEWS! 

And they don't get any better than from this BRAND NEW 1230 sq. ft. 2 Bedroom at Allure!

You can see it ALL!

Priced WAY UNDER ORIGINAL COST!

MOTIVATED SELLER SAYS, "LET"S DEAL!"

Contact The Stark Team for all your Las Vegas Strip Real Estate Needs

702 376-5220

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It seems like Chase has now bitten the dust as far as lending on condo-hotels and we have few sources - a very few sources, for high net worth individuals. So, we are back to Cash is King and  lowball buyers and stubborn sellers who do not understand the ramifications of the fact that there is no money out there for Vegas condotels. Awe are experiencing a  standoff!

We just wrote an offer on a unit that has been on the market for over 700 days.  You would think that after 2 plus years the seller would get the picture, and either lower his price or take the condo off the market. There seems to be a two fold pricing structure in the Signature at MGM Grand.  The banks are getting aggressive with the pricing of their repos.  And the owners are ignoring the fact that a buyer can get a repo for $50+k less than their supposedly low priced unit.  Then, when the repo sells for under list price - the prices will drop even further and the spread becomes greater and the markets worsens for sellers.

Perhaps it is the mathematician in me,  but when I look at trends and market absorption rates, coupled with the number of short sales in the Signature  at MGM Grand, most of which will become repos, I can't help but think that my buyers who are waiting on the sidelines for studio prices to drop into the $250k range are not unrealistic.

Little wonder the lenders have pulled all condo-hotel financing during these challenging times.  Are the units beautiful and offered fully furnished? On Site-rental program? Yes! With prices continuing to drop, these units are very much sought after, but at the right price?  What is the right price?  The buyers are setting the bar, and it is lowering as of now.

CASH BUYER??? Call US - We can locate properties in the Signature at MGM Grand selling for hundreds of thousands below cost.  SEARCH ALL MGM SIGNATURE RESALES  BY CLICKING HERE.

Contact The Stark Team

702 376-5220

With the Las Vegas real estate market plentiful with foreclosures, the high rise condo sector has been relatively immune to this situation.  Are the trends beginning to change? We are tracking foreclosures in Las Vegas luxury condos and have come across 2 in Turnberry Place, 3 short sales in Panorama Towers and 1 killer bank repo deal in Metropolis. Is this an anomoly or a sign of times to come?

Allure Las Vegas, Trump, the Palms and Turnberry Towers West are all opening now or in the next few months.  What affect will this have on the already stagnant glut of inventory in the existing towers?  Is the inventory overpriced? From a cost standoint, based on what it tkes to build a luxury high rise tower, I would say not. But from the buyers' viewpoint, I would say so, otherwise these oh so attractive elegant units on the strip would be gobbled up and inventory levels would not be building.

The Stark Team, Ezra International Realty, Las Vegas' leading high rise condo real estate agents, is closely tracking the foreclosure market in Las Vegas for condo & hotel-condo defaults, short sales and foreclosures.

CONTACT THE STARK TEAM for Detailed info & Visit http://www.lasvegascondobargains.comfor the latest foreclosure listings in Las Vegas and Henderson NV real estate.