Elvis, Liberace, and the Condo Hotel Concept are all Dead in Las Vegas as High Rise Rentals Quickly Becoming New Trend

High rise condo hotel developers are painfully finding out what the whole Las Vegas high rise market knows already: the condo hotel concept is dead in this town right now. Between what prices for these units began at and the tightening of the credit markets which make financing them almost an impossible task, high rise condo hotel developers need to start thinking out-of-the-box to avoid having their towers sit empty for a long, long time.

As such, some (such as Trump) are beginning to rent their unsellable units instead, which is a pretty smart move rather than have to admit the project's been a dog for quite some time now. Many others will follow this new trend - including (I predict), CityCenter. There's no other choice since anyone closing on any condo hotel contracted out during the "high rise frenzy years" will find themselves upside down as soon as they sign the closing papers. That's why you see so many would-be buyers just walking away from their 6-figure deposit monies.

Many real estate companies are noticing this trend as well and are re-creating themselves as rental companies as well - another smart move since that's where the business will be. The key here is being proactive. And many are taking strong bold moves to move forward in a positive light despite what has happened and what may be in store in the short-term future.

You try..., you fail..., you learn... you try again... It's the winners in lfe that move forward while other's wail in depression and think of what may have been. Perhaps in today's economonic climate, you need to think of alternative, recession-proof opportunities, that are out of the mainstream investing and aren't correlated to the volatililty of the stock market and real estate...

Las Vegas High Rise Condo Fire Sale - Must Sell!

For those of you high rise condo buyers who've sat on the sidelines all this time, your ship has come in. We now have access to - approved directly by the developer - high rise condo bargains one block off the Las Vegas Strip available to you right now at over 50% OFF the original price.

These units have never been lived in before, are drop dead gorgeous, and are ready for immediate move-in and purchase. Here's the types of Vegas high rise condo bargains you can take advantage of right now (which are available at the crazy price of approximately $277 per square foot average):

WAS $395,000... NOW $176,000
WAS $700,000... NOW $354,000
WAS $570,000... NOW $289,000
WAS $300,000... NOW $152,000
WAS $250,000... NOW $126,500
WAS $900,000... NOW $460,000

And these are just examples of a few condo bargains. There are more than 200 more in inventory!!! We need to move these units quickly, so if you'd like to take advantage of this Las Vegas high rise condo fire sale, email us here (you MUST include your name and phone number) or call 702-499-0432 for more details. Serious condo bargain seekers only please - there's plenty more where this came from.

... You've found your high rise condo bargain source - and if you're a non-high rise foreclosure bargain hunter, don't forget to check out our Las Vegas foreclosure deals website as well.

Las Vegas Real Estate Market Preview: January 29th is Depression Day - Unless...

I noticed that the Las Vegas Chamber of Commerce is once again presenting "Preview 2009" to be held Thursday, January 29th at the Thomas and Mack Center. Tickets start at $60 for Chamber members and $80 otherwise. But let me save you some money and just tell you what you'll hear at the event.

The economy is bad... really bad. Traffic counts at McCarren Airport are down to very low levels.... Construction startups are down.... Resort occupancy is a fraction of what is was 2 years ago.... Unless you're working real estate foreclosures, nothing's selling in the residential market and the commercial market's going to be hit hard this year as well... Office leasing space is a joke... The high rise market is completely dead (except for one project)... Developments have come to a standstill and many have been cancelled due to the economy... In other words: Nothing's going well right now.

Then, each presenter will talk about how "the future does look bright if we can just weather the storm for now." Ladies and gentlemen, start your networking!

Do you really need to pay to hear this? Aren't you depressed enough already? If you're into networking on an entirely superficial level, then by all means attend this event. I went last year and quite frankly, the 2 best contacts I made while I was there was in the parking lot before I even bought my ticket!

For me, there's only one solution right now - that's to work with those people who know how to invest like the top CPA's and attorneys invest. The group I've aligned myself with are providing their clients with recession proof investments that have stood the test of time during this entire down market. Their clients are happy and haven't been effected by the vagrancies of the real estate and stock markets - and they're getting returns on their investments that most investors could only dream of even when the market was peaking.

You don't need to go to a preview event to know what's in store for most people. The question is, will you separate yourself from the masses who are just sitting on the sidelines waiting for something good to happen before they get back into the game... If yes, then click here and register. If not, well... enjoy your depression.

Las Vegas Foreclosures are on the Rise

That's why we just updated our Las Vegas Foreclosure Bargain website with 17 new properties our office just received directly from a major bank.

Read the press release here. And here's a list of some of the Las Vegas foreclosures you'll find listed on the website:

LAS VEGAS REO PROPERTY UNDER $100K :

• $41,000: 1 Bedroom / 1 Bath Las Vegas Foreclosure: Direct from a Major Bank at an Amazing Price!
  
• $49,900: REO Investors: Buy a Las Vegas Foreclosure for Under $50,000
  
• $69,900: 1036 Square Foot Bank Owned Las Vegas Foreclosure
  
• $84,900: Best REO Deal in Town - Gorgeous Bank Owned Las Vegas Foreclosure
  
• $89,900: Move Right Into an Amazing Las Vegas Condo Foreclosure at a Price You Won't Believe
  
• $94,900: 3 Bedroom, 2 1/2 Bath, 1336 Square Foot Las Vegas Bank Owned Foreclosure Under $100K

LAS VEGAS REO PROPERTY UNDER $200K :

• $144,900: Las Vegas Foreclosure Near Summerlin, But Without the Fees - Great Deal at $144,900
  
• $154,000: Southwest Las Vegas Bank Owned Foreclosure Ready for Immediate Deal with Foreclosure Investors
  
• $154,000: Aliante Las Vegas Bank Owned Foreclosure for Crazy Price of $154,000
  
• $154,900: Las Vegas Bank Owned Foreclosure in Established Neighborhood
  
• $185,000: Summerlin Foreclosure - Get a Las Vegas Foreclosure in a Great Location at a Tremendous REO Price

LAS VEGAS REO PROPERTY OVER $200K :

• $204,900: Las Vegas REO: Gorgeous Bank Owned Foreclosure is Ready for Serious Las Vegas Foreclosure Investor
  
• $252,900: Attention Las Vegas Foreclosure Bargain Hunters - Great REO at a Great Price
  
• $254,900: Horse Permitted Las Vegas Foreclosure - Bank Owned and Ready to Sell at a Bargain Price
  
• $272,900: Get a Great Deal and Move In Right Now - Spring Mountain Park Las Vegas Bank Owned Home Way Below Market
  
• $406,900: Rhodes Ranch Foreclosure - Bank Owned Las Vegas Property Perfect for Real Estate Investors and Golfers Alike

As you can see, there's a bargain above for just about every Las Vegas foreclosure investor at just about every price-point you can imagine. These are some of the best deals - the "Real Steal Deals" as I call them - that you'll come across in the Las Vegas foreclosure market.

CityCenter Cancels Harmon Residences High Rise Condo Hotel Project

As many of you Las Vegas high rise condo hotel followers have noticed, the Harmon Residences portion of MGM's Project CityCenter has been in the news recently - and not in a good way. CityCenter has announced they have cancelled the project due to "construction issues".

Here's text of an email letter I received today directly from the source:

"You may have heard or seen information about The Harmon Hotel, Spa & Residences in recent news. As a Broker or Agent affiliated with CityCenter, we want to ensure you have the most accurate and up-to-date information.

MGM MIRAGE announced that it would cancel The Harmon Residences and delay the opening of The Harmon Hotel and Spa by one year. Please visit here to read the complete press release.

Although we are no longer continuing with The Harmon Residences, the remainder of the CityCenter project
is proceeding forward towards completion and there are still opportunities for ownership of a residence within our community.

For a different perspective on this story, read this article published in yesterday's Las Vegas Review Journal. Then go directly to the comments section at the bottom for some interesting takes from the Las Vegas gallery...

A Quick Take on the Las Vegas Foreclosure Market - High Rise Condo, Commercial, and Residential

How times have changed! Even during the Las Vegas high rise condo boom, we expected the good times had to end - but not many anticipated such a hard landing. Now, we're seeing foreclosures all around us and the high rise condo market is performing poorly at best, where many would-be condo owners are either in foreclosure or walking away from 6-figure deposit money.

The residential market feels it first, then the commercial sector comes next. That's why we've developed a brand new website at www.CommercialREOs.com in addition to our Las Vegas residential foreclosure site.

The forecast on foreclosures is still gloomy (from a bank and owner perspective, that is). I'm looking for indications of a market turnaround and hope to see some price stabilization probably sometime in 2010, which means we'll have to weather an extremely challenging 2009. That means for investors looking to take advantage of some pretty nice deals, the playing field is now wide open, both on the residential and commercial sides of the table - especially if you're an all-cash buyer. Always remember that the ecomonic structure of Nevada (and Las Vegas in particular) will allow us to bounce back much quicker than other states facing similar economic challenges.

Speaking of which, how would your life be different if you invested in Home Depot when it was first introduced? I've got a truely unique commercial concept that has that same dynamic future for growth, so contact me (name and phone number please) if you're an accredited investor and would like to hear more.