$3,000 a Square Foot?!?

If you ever had any doubts about the direction that the Las Vegas high rise condo market is going, consider this: at the latest High Rise Conference held at the Bellagio on June 10th, industry experts said that with the rising costs of construction, they wouldn't be surprised to see pricing in the neighborhood of $3,000 a square foot in the future!

That's a pretty expensive neighborhood. In actuality, any high rise condo project that thinks it's getting built at under $700 a square foot today is being totally unrealistic in my opinion. When push comes to shove, those are the ones that won't get built. They'll find out their initial projections were way off and will either fold or try to weasel out of signed reservation agreements.

Find a high rise condo that's selling in the $750-$900 square footage range and you've got a project where the developers are doing realistic homework - and that'll be a good project to get yourself into. Then, when the magic 3,000 comes along, you'll have tripled your money.

Of course, if the $3,000 per square foot number is reached in, let's say, year 2090, the industry experts from the high rise conference will have been right, but who wants to wait that long? You make your money on the purchase, so don't wait to buy high rises... buy high rises and wait.