From the category archives:

market news

Thinking of Buying a Condo? Cash is KING

by admin on April 11, 2010

With prices at historic lows, a lot home buyers are taking a long look at buying a condominium instead of a traditional single family home. That combined with the First Time Home Buyer tax credit helped spur sales at most communities. But that was then, this is NOW. The days of the luxury condos selling [...]

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CityCenter Funding Resolved

by admin on April 30, 2009

The drama surrounding project CityCenter has finally come to an end. For the past several months the future of CityCenter was up in the air due to financing issues. Their partner, Dubai World had gotten into a disagreement about the project and MGM Mirage was forced to cover the additional payments. Things came to a [...]

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Sullivan Square still hanging on

by admin on April 10, 2009

Sullivan Square started out as an unknown project several years ago. The developers started putting out television ads, very artsy targeting the upper middle class. One of its selling points was that the entire community was going to be green and thus eligible for special tax breaks as well as being great for the environment. [...]

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CityCenter Seeking Additional Financing

by admin on February 23, 2009

This seems to be a recurring theme for hotel and condominium projects in Las Vegas (and elsewhere, I’m sure): Trouble getting financing. “Necessity is the mother of strange bedfellows” That certainly applies here, since MGM Mirage is in talks with Deutsche bank who happens to own the adjacent property next to CityCenter, the Cosmopolitan. In [...]

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Monterey Condos Back in the News

by admin on January 27, 2009

The Monterey condos community located in the Las Vegas Country Club was back in the news last week. A cleverly disguised article (ad) in the RJ announced “special pricing” over the weekend. The article went on to tout the various features of the community which are actually very nice. The community has five pools and [...]

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Fontainebleau Going Forward

by admin on January 20, 2009

In a town of long odds, completing a construction project isn’t a safe bet. Several projects around the valley have stalled or went bankrupt due to the inability to gain financing. However, it looks like the Fontainebleau Resorts will not be one of them. The resort is planned to open in October of this year. [...]

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CityCenter loses some Condos

by admin on January 7, 2009

CityCenter, long thought to be the one bullet proof project in Las Vegas announced that one of the component towers, the Harmon Hotel & Spa will not have any condominiums as originally planned.

Citycenter CEO Robert Baldwin said stated that by removing the condos it removed “the need for substantial redesign…resulting from contractor construction errors.”

That is itself [...]

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Mira Villa going Forward

by admin on December 12, 2008

Mira Villa condos in Summerlin had an unsure future. The developer, Westmark Homes went into bankruptcy and the future of their current projects were in limbo. Last month a bankruptcy judge approved the completion of construction. real estate approved by bankruptcy judge to complete construction. The decision includes the completion of the 113 units, plus [...]

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Condo Sales Up in Las Vegas in November

by admin on December 10, 2008

An article in the Las Vegas Review Journal stated that home and condo sales are up, way up as a matter of fact. Strangely you won’t see much else in the media about how robust the Las Vegas condo market has become this year. According to statistics provided by the Greater Association of Las Vegas [...]

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