A good example would be the recent Monterey condos auction. There were 80 condos up for auction on October 26th. A few days later, I received an email stating that there were several condominiums still available for sale. I think part of the problem with recent auctions are two fold. First that they are competing with so many other properties for sale already. Inventory levels have been going down in Las Vegas, but they are still way about normal. Second, because they are attracting a lot of first time auction goers and many aren’t familiar with the rules, regarding minium bids, buyer’s premiums (% of the winning bid tacked on the price) and the big one, financing and deposits. Plus other fees that are added.

If you are looking for a “great deal”, your best bet is to talk to an agent familiar with the area. Call us at 702-493-8033 with the type of property you are looking for. Let us help you find your next home or condo.

Post from: Las Vegas Condos - Las Vegas Condominiums