About Las Vegas' Las Vegas High-rise Condos

Condos for Sale in Las Vegas Present Financing Challenges

Take a peek at prices of condos for sale in Las Vegas.  It is no wonder not a week goes by the last several years that I get multiple inquiries from buyers who see $20K, $30K, $40K condos for sale in Las Vegas online.  These buyers are first time buyers, owner occupied buyers, investor buyers, second home buyers, vacation home buyers etc.

A very large percentage of these potential Las Vegas condo buyers also want to leverage these incredible bargains via financing.  This is a problem here in our valley.  It doesn’t matter what your credit score or income is.  It doesn’t matter if these buyers are highly qualified to purchase a $500K condo home and only want to spend $40K.  What matters to the lender or underwriter is the condominium certification.

There are several items in that condominium certification that could upset the apple cart and blow up financing on a condominium home sale.

The lender is looking for certain things in the Condo Certification that will determine if they will lend money on that specific condo property:

• Lenders want to see low investor concentration (rentals)
• Low HOA delinquencies
• No construction defect or other litigation against HOA or community

Of course there are ways to work around this such as through private money financing or Fannie Mae HomePath® financing.  Of course not every buyer or condo fits the underwriting mold for those either.

The moral of the story is if you are eyeballing a condo for sale in Las Vegas, you may want to make sure the cash is in the bank.

Click Here to See the Newest>>>> Condos for Sale in Las Vegas

With luxury home sales picking up substancially due to opportunistic buyers grabbing the amazing values that are still out there, there has been a resurgance in interest in luxury highrise units. Some are condo only units, and some are condotels (condos that can rent as hotel rooms). Las Vegas is a particularly good investment opportunity as when the market turns, these properties will appreciate in value quicker then any others.

Many different properties to choose from, MGM Signature, Trump Tower, Allure, Sky, Panorama and the Martin on the strip as well as Juhl, Soho, and Newport downtown. Most buyers pay cash as lenders are scared to finance these projects, however our preferred lenders will finance several of the projects with as little as 10% down at market rates and up to $1,000,000 with the right credit.

If you like to visit Vegas, and are looking for an investment to enjoy, this might be it!

~Las Vegas Luxury High Rise Condo Foreclosures~

*VISIT Las Vegas Condo Bargains

*VISIT Las Vegas High Rise Bargains

It is common knowledge that Las Vegas High Rise Condo Real Estate has struggled with a glut of foreclosures over the past few years. What makes this market sector differ from the rest, is that the prices in the strip area seem to have bottomed in 2009. If you wish to receive a LAS VEGAS DEPRECIATION/APPRECIATION MAP BY zipcode - click here to request one.

ZIPCODE 89109 Properties Appreciated 11% in 2010.

ZIPCODE 89103 Appreciated 1% last year.

These are the strip area zipcodes.

Given the above statistics, buying a Las Vegas high rise condo can be even more challenging than ever before if you want to get one at the right price. Buyers have been waiting on the sidelines for the market to bottom out in the high rise condo sector, and those in touch with the real facts and stats are jumping in to try to buy a strip area condo at 2009 pricing. Multiple offers and bidding wars are common. This is a market sector that requires a high rise condo specialist to guide you through the process. Otherwise, you may make an offer on the wrong stack/view corridor, a unit that overlooks a neighboring parking garge or the a/c units for the tower, just because the price looks attractive. THE STARK TEAM has sold hundred of condos up and down and near the Las Vegas Strip since 2004. We are the number # 1 high rise condo expert agents in Las Vegas. Our experience will help guide you through the short sale and foreclosure purchase processes, and we know you will be happy with the results. That is how we continue to stay #1 in this arena. Our investor base of repeat and referral clientele is consistently loyal.

Due to the competitive nature of the buying process, it can be difficult, challenging, and frustrating to acquire the right property.

Utilizing the experience of The STARK TEAM on your side of the transaction will streamline the buying process.

Las Vegas Area REO Inventory has RISEN since last report (+37 units), Under Contracts have RISEN by (+28) units  Closing data has RISEN by (+393) units.  Low interest rates have spurred a flurry of buyer interest & activity  and it continues.  

REO sales accounted for 50% of all Las Vegas Area Valley resale closings in June 2011.  REO listings account for only 25% of total resale listings.

Current Listed Bank Owned Statistics:

• Listings (7/15/2011):  3402
  
• Under Contract (7/15/2011): 3584
• Sold June 2011:  2177
  

View Last Month's Report Here  

For Most Current Las Vegas REO Inventory Market Report.

What Areas Do You Cover for your Las Vegas Area Real Estate Market Reports?

General Las Vegas Area Real Estate Market Reports are for MLS Areas 101-606 (the average consumer probably asks, what’s that?)  It means that I cover the cities of Las Vegas, Henderson, North Las Vegas including unincorporated Clark County Townships of Whitney, Paradise, Winchester, Enterprise, Sunrise Manor & Spring Valley.  They do NOT cover the areas of Boulder City, Pahrump, Laughlin, Moapa or Mesquite.

View More FAQ About My Las Vegas Area Real Estate Market Reports.

Rainy views of the Stratosphere of Las Vegas - taken from a high-floor condo penthouse at Allure.

On a cloudy, rainy day, while standing on the balcony of a penthouse condo unit (that he had just sold) at the Las Vegas high-rise condo project Allure Las Vegas, Celebrity Real Estate Agent shares video of the views which include the Stratosphere, Downtown Las Vegas, as well as other condominium projects such as Newport Lofts and Soho Lofts.