Trying to Time Las Vegas High Rise Condo Market Bottom Will Cost You Opportunities Today

There are two things in real estate that all real estate experts agree on: it's impossible to time an exact market top and it's impossible to time an exact market bottom. In fact, that's true in just about any financial situation, including the stock, bond, and commodities markets. Successful investors see a TREND, and follow the trend and hope to buy or sell accordingly. They NEVER wait for the market bottom, because it's impossible to determine and they know they'll be sitting on the sidelines forever without ever getting into the game if they did.

We all know what's been happening in the Las Vegas market. Have we hit bottom yet? Some say yes, some say no. At this point, I'm here to tell you that it doesn't even matter because bargains have finally presented themselves to investors and high rise condo buyers who don't want to sit around on the bench forever. The time to buy is now - when everyone else is scared (or waiting for that untimable market bottom).

Let me give you an example. We have access to a poolside, never lived in, 2 bedroom, 2 bath property at Panorama Towers which you can land right now for $399,900, which translates into amazing price of only $257 per square foot. After researching the closed transaction sales in the past 30 days at Panaorama, the average price per square foot sold there is $429.

Is $257 per square foot market bottom? The market would have to drop another whopping 40% for that price to be market bottom! It's bad right now, but it's not THAT bad. Folks, this is called a STEAL! Anyone who doesn't act now on deals such as these (and other similar bargains we have access to right now) are not only out of their minds, but also doomed to watch from the sidelines forever as others make their fortunes instead. I hate to be blunt, but it just won't get better than this.

Pinnacle high rise condo buyers specifically have been presented with a very interesting opportunity. The developers of the Pinnacle couldn't bring their project to fruition, but hats off to their integrity by announcing that those who had units reserved will be getting their deposit money back, plus interest, within 30 days.

If you're a lucky Pinnacle buyer, you may not realize it, but you're in an excellent position. The market trend has been hit hard during this period of irrational exuberance which kicked the real estate market pretty hard in the pock-gut-book. Prices have been beat down to a point where bargains exist. We already know it's foolish to "wait" for the market bottom as you'll miss opportunities that others will act on, so you're flush with cash in a period of time where a market upturn may be right around the corner.

I so often hear "We're waiting for the market to bottom". In real life terms, that generally translates into the following:

"I'm waiting for when I think the market will hit bottom... but I'll certainly time it wrong... so if I ever do decide to move forward later on, it'll probably be at a higher price than I'm willing to pay anyway".

How many times do you sit at home watching "Deal or No Deal" and yell at the contestant passing up the real deal? They're taking a chance that something better will come along... And we all know what happens - they go home with a lot less than they could have had. If you truely want a Las Vegas high rise condo, don't let that happen to you.

Purchasing a resale is not only commonsense, but at this point, a no-brainer - especially for the Pinnacle buyers who are now off the hook and ready to move on for bigger and better bargains that exist right now.