About Las Vegas' Loft 5

The absorption rate for Las Vegas Valley Area Short Sales appears to be swinging from a neutral market back to a buyer's market as fall approaches. Inventory has DECREASED by -182 units. Under Contract has INCREASED by +143 units. Sold units have INCREASED by +46 units.

There are many reasons for the lack of closings in this market and it is outlined in this post.

Short Sale Synopsis:

• Listings 9/15/2011: 6021
• Pending 9/15/2011: 8434
• Closed August 2011: 1014

Short Sales Currently Account for:

• 46% of All Las Vegas Valley Listings
• 22% of All Las Vegas Valley Sales

Read here for last month's report on Las Vegas Area Short Sales.

Most Current Market Report For Short Sales

Information About the Short Sale Process for Las Vegas Area Short Sale Buyers & Sellers

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.

SOUTH STRIP LAS VEGAS LOFTS are quite desirable, especially those at LOFT 5. These lofts make great rentals because of the prime location, just 3 miles south of Mandalay Bay, the guard gated community, and all the amenities - pools - jacuzzis - gym, etc. Bank owned foreclosure lofts on the south strip and downtown are very popular with investors because they seem to rent extremely quickly and the days on market are lower than those high rise condos in may instances. CASH PURCHASES only are feasible as there is no financing readily available.

The interior finishes at LOFT 5 are quite unique and upgraded:

Bamboo floors, Poggen Pohl Cabinetry, Kohler fixtures, Stainless Appliances

TAKE THE VIRTUAL TOUR OF LOFT 5 2 BR FOR RENT

View Loft 5 Resales- CASH PURCHASES ONLY

View SOHO LOFT DOWNTOWN LOFT RESALES & REOS

VIEW LAS VEGAS STRIP HIGH RISE FORECLOSURE LISTINGS

CONTACT US FOR MORE INFO

Las Vegas High Rise Rentals:

• 252 Listed 2/15/2010
• 15 Under Contract 2/15/2010
• 38 Leased January 2010
• 6.6 Months Inventory

Las Vegas High Rise Resales:

• 610 Listed 2/15/2010
• 273 Under Contract 2/15/2010
• 65 Closed January 2010
• 9.4 Months Inventory
  

This Market is extremely volatile due to the boutique nature and lack of financing. Read last month's report here.

This report is compiled by using data from the GLVAR MLS. Data is gathered by the "VERTICAL" field and the "RESIDENTIAL" field using "CON" as subtype and "HIGHRIS,LOFTLIV,PENTHSE" equals any for building description. 12/3/2009 NOTE: The high rise portion of the RESIDENTIAL field is being phased out into the VERTICAL field currently. Information is deemed reliable but not guaranteed.

Read the most current market report for the Las Vegas High Rise Sector right here.

Get ready for the south strip's newest lofts - Loft 5 - WIll be ready for move in at the beginning of 2007! One of Las Vegas' hippest projects, these new south strip lofts will come completely upgraded:

Poggen Pohl Cabinetry ( The same European Brand used in Trump Tower)

Bamboo Flooring throughout

Marble or Granite Countertops, Porcelain or Limestone flooring in the wet areas, large windows, and very creative floorplans.

I predict that these lofts will be so in demand from a rental standpoint becuase of the accessibility to the strip (LOFT 5 is located just 4 miles south of Mandalay Bay) that they will take the market by storm. LOFT 5 has sold all but 12 units as of this writing WITH NO MODEL - Once they open the model on site - buyers will clamor to live and play in this guard gated complex with its fabulous courtyard pools, fitness center, and more.

Want to participate in the developer's preconstruction project - L5 - to be built next to LOFT 5 - Call us for details. Deposits are as low as 6% down for primary & secondary homeowners to 10% for investors.

June can be reached at 702 376-5220 and Lauren at 702 236-8364