Commerical Foreclosures and Commercial REOS - Bank Owned Commercial Property

The Legendary "100 Million REO Portfolio Package" Is Real - And Ready for Cherry-Picking By REO Investors

2010-07-23T19:26:00.001-07:00

As of today, I now have access to the legendary "$100 million REO foreclosure portfolios, both residential and commercial properties typically made available to only the elite hedge funds and institutional investors that have "inside connections" of some kind.

As a result, I am looking for investors seeking access to a portfolio of REO investment properties in this $100 million price range with highrly customized specifications on the exact location and property type desired.

You (the investor) name your price range, the property condition, the specific area codes, any property specifications, and we'll provide you with a resource to cherry-pick these properties at REALISTIC mega-discounts off the current broker price opinion for the bulk purchase. Through my "priority access" association with this group, I can provide to the investor prices and terms that are not available to the general public via the relationship with www.CommercialREOS.com

Prospective REO investors and investor groups will be required to sign a "Letter of Intent" indicating your price point, location, condition, etc., and the type of product you want to buy and how much of it to take down PER MONTH which basically acts a starting point to initiate the process. Along with the LOI, a current "hard proof of funds" statement from your bank is also required. Due to the nature of the business, both these documents are required before moving forward.

We also have REO opportunities for the smaller investor or investor group in the $10 million range, albeit with a lesser discount. This is a real deal opportunity for the REALISTIC investor group that's looking to capitalize on some amazing discounts in today's national foreclosure market.

What is "realistic"? We are currently working with investors in California who are buying a typical $100 million portfolio at .58 cents on the dollar and also with smaller groups selling them $10 million REO portfolios at .68 cents on the dollar. That's the marketplace folks, and anyone who thinks they can do better will just have to keep looking, because it's just not out there - except in urban legend land.

If you're a serious sophisticated investor or a member of an investment group looking to take down a $100 million custom REO portfolio and the above discounted values are attractive to you, please contact me at 702-336-5554 or email ron@commercialREOs.com for more details.

Bank Failing? Blame the Regulators!

2010-07-14T10:30:00.000-07:00

McIntosh Commercial Bank has lost so much money on loans that, by one measure, it was financially the weakest of Georgia's roughly 300 banks. So rather than look within for insights as to why the bank has failed miserably, representatives are actually complaining that federal regulators were being overzealous in closing banks.

Here's probably a more realistic explanation: they loaned too much money to developers, builders, and buyers and when the market tanked, so did they - just like countless others.

Greed causes the downfall of many. And it seems blame is very commonplace when things go wrong.

Who Can You Believe These Days Regarding Commercial Real Estate?

2010-07-13T11:33:00.001-07:00

Do newspapers, TV, and the media in general report what's REALLY going on in the news, specifically commercial real estate? It's hard to believe what you read some times when the authors of these newsworthy pieces are clearly misssing out on key signals and indicators that portend exactly the opposite of what they're saying.

Take today's story in the Las Vegas Review Journal, "Commercial real estate prices reaching one third 2007 levels". Here's a few talking points from the article:

"I think we're pretty close to the bottom because once a bank gets a property back, you can't go any lower than that"
"The most common trend in the industrial market continues to be the lasting expectation among buyers and tenants for reduced sales prices and lease rates"
"Both residential and commercial transactions are slowly starting to pick up compared with the last couple of years"
"The ones that take the jump now are poised to make the most profit when things turn around."
"There continues to be strong demand for quality properties."
"We're getting a lot of activity, which is going in the right direction"

Remember these comments were taken directly from a major media outlet, not from an agent's website or someone's real estate blog. Let's analyze each point a bit further:

"I think we're pretty close to the bottom because once a bank gets a property back, you can't go any lower than that" - Oh we can, and we will. If you think the commercial market is bad now, wait until the end of the year when the banks move from their current "denial" state into "acceptance" of the problem and start taking massive action to unload properties.

"The most common trend in the industrial market continues to be the lasting expectation among buyers and tenants for reduced sales prices and lease rates" - The most common trend is ALL of real estate is that the prices will continue to fall until job growth prospects get better. The focus should be on job creation - until that happens, the real estate market will continue to fall. And I don't see it happening (for real at least, although you can probably find examples of news articles massaging the facts to make it seem so in the short term.

"Both residential and commercial transactions are slowly starting to pick up compared with the last couple of years" - the key words here are "the last couple of years", which were lousy. Comparing something negative to something even more negative makes your negatively seem less negative.

"The ones that take the jump now are poised to make the most profit when things turn around." - this statement is the single-most exact reason people hate real estate agents. And for obvioius reasons. When Starbucks tells you their coffee is great, watch out.

"There continues to be strong demand for quality properties." - Strong demand? I don't see it. Maybe in other markets, but since this article was written for a Las Vegas paper, I'm assuming they're referencing the Las Vegas market, where the exact opposite seems to be the case. Just look around you if you're a local.

We're getting a lot of activity, which is going in the right direction" - Trust me, the only activity people are seeing are investors looking for an unrealistic "steal", then looking to steal the steal. There's certainly a lot of activity there.

Here's the tough love folks: if you're looking to invest in commercial real estate, take my advice and WAIT. WAIT WAIT WAIT. It's going to get worse short-term. There will be great opportunities for profits in the future and we're currently paving the ground with that at www.CommercialREOs.com, but only when the time is right. It's not now. Turn off the TV and stop reading the newspapers with all those stories written by those with agendas.

Seriously, I Just Got This Email Regarding Commercial Real Estate

2010-06-10T15:01:00.000-07:00

You know why people hate real estate agents? Because there's a perceived notion out there that real estate agents are all after the commission without regard to whether or not the purchase (or sale) is right for the CLIENT.

I want to share with you an email I just received that drives home exactly that. (I took out any references to the sender, or the company name that sent out this doozy):

There has never been a better time for business owners to purchase the commercial property their businesses occupy. It's a fact, and I'll tell you why.

The 20-year fixed interest rate on commercial loans projects continues to be historically low -- the effective rate for May is 5.52%. And that's fixed for 20 years! On top of that, the continued elimination of most up-front fees makes a commercial loan an unbeatable alternative to conventional financing . . . and a no-brainer for any business owner who recognizes the wealth-creating power of commercial property ownership.

The Experts in commercial property financing (that's us) make the purchasing process easy and simple because it's ALL we do. If you're the least bit interested in owning your commercial property, call me today

Is this guy doing ANY market research? Probably not - he just wants a deal. The fact is all RELIABLE DATA and market forecasting point to exactly the opposite - there's a perfect storm brewing in commercial real estate and if you think the residential foreclosure market got hit hard, just you wait.

"a no-brainer for any business owner who recognizes the wealth-creating power of commercial property ownership"?!?!? This must be a joke, right? It used to be "don't wait to buy real estate, buy real estate and wait". Not anymore. You'll be turning cartwheels of joy if you just wait around and get ready to pounce when the timing's right - but that time's certainly not now.

Commercial Real Estate Foreclosure Recovery? Not By a Long Shot

2010-06-04T14:11:00.000-07:00

Lately, I've heard rumblings that we're actually entering into an economic "recovery". With high unemployment and massive household debt, that's hard to believe. Remember, many people have financed their expensive lifestyles and the bills are coming due. Financial services, home-building, auto workers, even lawyers, brokers and other traditionally well-compensated fields are feeling the brunt.

Here's the mission statement for why we're in for a rough stretch of commercial real estate: everyone borrowed too much!

Not painting a pretty picture as well is the long-term impact of colossal government spending and national debt which has yet to be felt. Jobs just cannot be created fast enough to fill the gaping holes in commercial real estate debt-service. In fact, you can make a case for the first time in quite a long time, American's standard of living may have begun to fall - low wages, shrinking insurance benefits, bankrupt pension plans, and how about that 401K for retirement?

Where will the new high-paying employment options to stir recovery be? Here's a few:

Technology: engineers and scientists still will be highly desired as new high-tech products can increase sales to global markets.
Healthcare: as the population ages, we'll continue to see demand for medical services, doctors, nurses, therapists, caregivers, etc.
Education: if there's one area that's in desperate need of qualified individuals it's the teaching industry, especially for education targeting engineers, scientists, and doctors for jobs leading to innovations in their particular field of study.
Housing: as long as the U.S. population continues to grow (which it will), homebuilders will eventually recover as all these people still need places to live.
Wealth Management: We'll eventually have to pay the bills for all the borrowing that's been done.

The problem is that there aren't many good paying jobs around right now and the only way out of a doomed commercial real estate market is job creation. Even those with the most rosy-colored glasses point to an overall gloom and predict a prolonged slow recovery process. I don't think we're there just yet.

The Long Road Back - Commercial Real Estate: Absolutely No Demand

2010-06-02T15:46:00.000-07:00

Commercial foreclosures are looming in the future. Here's more bad news for commercial real estate owners: there's no demand for your product. Looking to increase cash flow to meet expensive debt service? Not a good bet. As tenants continue to downsize to cut costs, landlords are facing serious challenges as their stifling mortgage statements stare them in the face month after month. In today's marketplace, commercial real estate is seeing the following trends:

Retailers are closing their weaker stores, and concentrating mainly on only the strongest of large shopping centers
Apartment renters are doubling up or moving back in with their parents or siblings
Office tenants want big accommodations in rents and concessions.
Warehouses are suffering record vacancies.
Hotels are seeing "below break-even" occupancies, as families are eliminating travel more and more as a means to curtail their spending.

It's not new construction that we'll need in the commercial real estate world. New demand must be the keyword for the commercial real estate world to weather the upcoming storms of commercial foreclosures and commercial reos. Remember that employment growth always follows the growth of the economy, and unfortunately, real estate is typically the last to see any improvement.

And the Market to Watch Is..... (Drumroll please)

2010-06-01T16:56:00.000-07:00

Well, unfortunately, according to the Emerging Trends, there really is no market to watch at this point. They are not bullish on any particular place. But they do say that investors tend to favor the following:

Global gateway markets on the East and West coasts—featuring international airports, ports, and major commercial centers.
Cities and urbanizing infill suburbs with 24-hour attributes—upscale, pedestrian-friendly neighborhoods; convenient office, retail, entertainment, and recreation districts; mass transit alternatives to driving; good schools (public and/or private); and relatively safe streets.
Brainpower centers—places that offer a dynamic combination of colleges and universities, high-paying industries—high tech, biotech, finance, and health care (medical centers, drug companies)—and government offices.
Barrier-to-entry markets where geographic constraints—rivers, lakes, oceans, and mountains—limit development and help control overbuilding.

And what do investors tend to shy away from these days? Try these attributes:

Midwest manufacturing centers—automaker travail deflates interest to new lows;
Secondary and tertiary cities—anywhere you can’t fly direct to from the global pathway centers;
Hot-growth bubble-burst markets, which collapsed under plunging housing prices;
Fringe areas—the exurbs and places with long car commutes or where getting a quart of milk means taking a 15- minute drive.

So where does Las Vegas rate in all of this? Like the military, don't ask - don't tell... But if you'd like to register at www.CommercialREOs.com for some nice timing plays when the time is right, please be our guest and do so.

2010 Congressional Oversight Panel Report on Commercial Real Estate Losses and the Risk to Financial Stability

2010-05-30T19:16:00.000-07:00

Nobody likes to read government documents and reports. It's probably because they're all long, boring, drawn-out with pages and pages of fluff information that no one cares about. However, in the case of the 2010 Congressional Oversight Panel Report, I started reading the document, and I must say, the information contained is just plain shocking!

You thought it was bad now, their take on the commercial real estate marketing is downright frightening (and if history is any indication, usually correct!). Download the report (it's 190 pages!), but just read the Executive Summary. And make sure you're sitting down. Here's my favorite paragraph:

Between 2010 and 2014, about $1.4 trillion in commercial real estate loans will reach the end of their terms. Nearly half are at present “underwater” – that is, the borrower owes more than the underlying property is currently worth. Commercial property values have fallen more than 40 percent since the beginning of 2007. Increased vacancy rates, which now range from eight percent for multifamily housing to 18 percent for office buildings, and falling rents, which have declined 40 percent for office space and 33 percent for retail space, have exerted a powerful downward pressure on the value of commercial properties.

The largest commercial real estate loan losses are projected for 2011 and beyond; losses at banks alone could range as high as $200-$300 billion. The stress tests conducted last year for 19 major financial institutions examined their capital reserves only through the end of 2010. Even more significantly, small and mid-sized banks were never subjected to any exercise comparable to the stress tests, despite the fact that small and mid-sized banks are proportionately even more exposed than their larger counterparts to commercial real estate loan losses.

Put on your seat belt and get ready for an interesting 5 years regarding commercial foreclosures and commercial REOs. If you're direct to a lender or direct to an investment group, contact us at www.CommercialREOs.com and at least register on the site so when the time's right, perhaps we can make lemonade out of lemons.

Commercial Real Estate Key to Success

2010-05-30T19:14:00.000-07:00

I am currently reading the Emerging Trends Real Estate 2010 report and happened upon this quote to start the Second Chapter of the document:

“The key to success in real estate investing is to follow the capital flows, not the fundamentals. Anticipate what capital wants and be there.”

This is a must-read report for anyone in the commercial real estate world or just anyone looking for knowledge on where the industry has been and where it is going. You can download the report on the homepage at the www.CommercialREOs.com website.

According to the report:

Slowly, capital will flow back into commercial real estate markets during 2010, led by all-cash investors “looking for pop” in quality assets owned by distressed borrowers or sold by lenders out of growing REO portfolios.

... a very interesting read indeed

Get Your FREE Cash Back Membership for High Rise Condo Owners

2010-03-27T17:48:00.000-07:00

Folks, we're launching a brand new FREE shopping service that allows you to get cash back on shopping you do anyway at brand name stores. In addition, you can also earn money when others shop as well. There's a video here that explains it all in detail - watch it!

The network is called ShopBest and all I can tell you is that it's brand new and I urge you to secure your position on our team RIGHT NOW. All you have to do is signup and download the free toolbar.

If you're a shopper, or would like to earn money when others shop, you need to be on our team with this - and if you know anything about viral marketing, it's always good to be in at the top!

Learn How to Get High Rise Condo Bank REO Foreclosure Listings

2010-03-03T20:34:00.000-08:00

Real estate agents: complete BPO's for major banks for thousands of dollars in commissions!

Don't have another sleepless night worrying about where your next deal is coming from. Let's face it - the real estate market (and the high rise market in particular) is tough. We've changed our focus over the past year and have every expectation to make 2010 our best ever?

Why? Because I've discovered the secret on how to get listings from major banks to help them dispose of their non-performing assets. Want to find out how to do this yourself? Here's the secret that's already working for me and our team >>>

Real Estate Investments for those in the Horse Racing Industry? Here's the Resource

2010-02-18T12:04:00.000-08:00

Two days ago, we published www.HorseRacingLuxuryRealEstate.com on behalf of a colleague of ours named Allan Herman.

Allan's a big horseracing fan and has been specializing in luxury real estate in Las Vegas for quite some time now. The website allows him to combine two of his biggest passions: the horse racing industry and luxury real estate.

Besides what you'd normally expect to see at a typical real estate website, we've implemented a LIVE Broadcast capability where Allan will be hosting weekly live streaming video sessions talking about not only what's been going on in the horseracing industry, but what's new in the luxury real estate market as well.

These shows have the capability of being archived as well as customizible branding for advertising - basically turning an advertising expense into another revenue stream for the show host.

You don't have to be from Las Vegas to take advantage of the resources this website provides. Nor do you have to be a horse breeder, horse trainer, jockey, or horse owner for that matter... but it sure does help if you are!

Please stop by the site, take a look, and give us your feedback on what you think. If you'd like to add live broadcasting capability to your site, please visit www.VegasVideoMarketing.com for further details. Sign up for an account, then contact us at info@videoemailresults.com and we'll do all the work for you.

Text Message Marketing Provides Opportunity for Luxury Real Estate Agents

2010-01-20T17:03:00.000-08:00

As many of you already know, awhile back I started a text message marketing company called Gotta Go Text (www.G2GText.com). In case you don't already realize it, the text marketing industry is growing exponentially every day, as is G2G. One only has to point to the success of the donation program to the victims of the Haiti earthquake devastation to see how text messaging is the next big new thing. (Text "HAITI" to 90999 to donate $10 to the Red Cross)

We'll... we've taken the text message concept to the Golf Course industry at www.G2GGolf.com with phenomenal success so far. If you would like to see it in action for yourself, just text "GOLF" on your cell phone to 69302 and you'll get an immediate indication.

So what does that mean to you, the real estate agent? We've also partnered with Never Search for golf in providing golfers with a fully customized golf trip planning software including links to nearby restaurants, driving ranges, courses, related sites of interest, and get this - LUXURY GOLF COURSE REAL ESTATE!

The Never Search Golf database is national and we've already been getting requests for information from golfers as to vacation homes at golf course destinations around the United States. My question to you seasoned real estate agents reading this blog post is this: Are you a luxury residential agent who can provide services to golfers looking to purchase real estate in your area?

If so, we'll provide you the lead from the contacts we get at www.G2GGolf.com in return for a 25% referral fee payable upon a closed deal. Interested? Contact me at ron@gottagotext.com and especially let me know the area of the US that you specialize in.

Las Vegas Project CityCenter Making News With Grand Opening This Week - But Many Questions Remain

2009-11-30T15:42:00.000-08:00

Bet you're wondering why I don't update this blog very often any more, right? Well, the truth is there really isn't any good news arising from the Las Vegas high rise condo market these days. That's about to come to an end however now that MGM Grand's Project CityCenter will be opening its doors this week to a long awaited and skeptical crowd.

In fact, there's a very interesting article in yesterday's Las Vegas Review Journal that goes over City Center in great detail which anyone interested in the high rise market should read. For the most part, the article portrays a rosy future for this mega-project. However, myself (and a whole bunch of other readers - read the comments section at the end of the article for some REAL insights into this project) think there are big hurdles to scale before anyone can think CityCenter will be a success. Questions such as the following:

1) How's it going to pay for itself? How can they possibly get the ROI needed to keep this city within a city thriving? 8 BILLION dollars is a lot of money!

2) Who's going to play there? Certainly not the locals. Are there enough rich sultans in the world willing to visit, gamble, spend, eat, drink, etc. at CityCenter at the expense of Wynn and his casinos? I can see CityCenter packing them in for the first few months or so - and I myself can't wait to go and see it (and maybe even play a little $5 blackjack? - doubtful) - but after that when the luster's worn off, then what's going to happen? Ask the people over at the M Resort about that. That project was amazingly "successful" for the first few months. Now people leave that place faster than Tiger Woods drives his car out of his garage.

3) How will the condo portion of the project effect the market? Even while CityCenter slashed condo prices supposedly 30%, when you consider what's going on in the market, who'll buy them? Add the HOA fees and you probably have to be a partner in MGM somehow just to afford the payment plus mortgage. That is, if you can even get a mortgage! Since banks aren't lending on condos, pretty much any deal has to be all cash. Are there enough rich people overseas that will plunk down that kind of money for something they'll maybe visit twice a year?

4) Has anyone given any thought of the traffic nightmares this development presents on an already crowded intersection? Who's going to put themselves through all that on a consistent basis? Traffic and parking issues believe it or not are the single biggest predictor of whether or not a retail business survives. This is a serious point that everyone in the media seems to be overlooking.

5) Can bankruptcy be far behind? And if so, will MGM CEO Jim Murren still be considered the forward thinking poster child genious he's portrayed to be in another article regarding CityCenter published in the Las Vegas Sun? (read the comments on that story too!). Here's one of my pet peeves regarding the media: mixing news with promotion. According to the article, "Murren never doubted the success of CityCenter. It was right for the company, right for Las Vegas", spoken as if the project was already successful. It's not successful - yet. I'm from Vegas and plan on being here for years. I want this project to work, but let's hold judgment on whether it's a success or not until after it opens, okay?

And speaking of which, you may want to brave the traffic for just one night tomorrow (Tuesday, December 1st) when the Vdara opens its doors. Then go again on Thursday when the Crystals retail district opens within the development. The Mandarin Oriental is scheduled to open on Saturday. Shortly after that, the Aria hotel casino opens on December 16th, followed by the Veer Towers opening in January 2010.

I can't wait to see the development myself. I love the way it looks - CityCenter in my opinion is absolutely gorgeous! But like a traffic accident, it's more like it's drawing my interest and curiosity more than being a destination I'll consistently go to. Perhaps I'll be wrong about that, but I am looking forward to the openings. I have a feeling I'm a lot like the average person in that respect. You'll go to CityCenter once, check it all out, maybe play a few hands of blackjack or craps (with a $25 minimum), walk through the shopping areas (while not buying anything), order a $18 martini (just to say you had one), wait forever to get your car, and drive back home.

Then like Kaiser Soze, my guess is CityCenter will never see you again.

Text Message Marketing is the Future in Real Estate and Beyond

2009-09-09T10:42:00.000-07:00

The ability to spot trends has always been a valuable asset in any real estate agent's arsenal. In fact, trendspotting serves most people well in just about any industry. Sometimes, you get that "ah ha!" moment when it finally hits you and you say to yourself "this could be big!".

That is exactly what happened to me when I first discovered the power of text message marketing months back. I saw it as a way to communicate instantly with potential clients in an environment with a 95% read rate. Think about it... who doesn't read their text messages? I've been successfully text message advertising since then.

But I wanted to create a brand that I could bring to the forefront of the market to allow others to easily use this technology as well. I've literally spent the last 5 months developing a text message platform for retail use, and this morning (9/9/09) at 9:09am, we launched the product at http://www.GottaGoText.com.

Hence, we're very proud to bring you the most sophisticated text message marketing system available today - AND making it affordable for small business use. (especially for real estate agents!)

No more empty "Take One" sheets at houses that are for sale. Instead, have a sign asking the potential buyer to text a certain keyword (HOUSE) to our shortcode (69302) for instant information on the house they're looking at. (Plus you help save the planet without the use of tradition paper that ends up somewhere on the street most of the time).

Now you've captured that prospect's contact info where you can alert them to your new listings, open houses, special deals, foreclosure opportunities, or just about anything you can imagine at a simple click of the button for immediate feedback. Gotta Go Text is browser based, so you can create, send, and manage your contacts and text messages from anywhere in the world at any time. I'm sure you can see how you can develop a strong contact database in a very short period of time by text message marketing with G2G.

In short, texting facilitates sales. And if you think it's all overwhelming, I'm here to help you out every step of the way regarding how to use the system, create keywords, manage your database, and send out messages.

For the time being, I'm offering a FREE trial of this product at our website at http://www.GottaGoText.com. I'm also looking for affiliates to help me bring this brand to the forefront of the industry. Signup for the trial, create an account and give it a test drive. Then, if you like it, the basic cost is $50/month along with 7 cents charge per outgoing text message. There are no contracts to sign and you can cancel without penalty at any time.

This is not just for real estate agents - bars, restaurants, promoters, churches, schools, musicians, etc... all can find a unique use for text message marketing.

Download the promotional flyer here - and remember: When you want to skyrocket your response rates and grow your business, ya Gotta Go Text!

Using G2G will show you EXACTLY how powerful mobile marketing really is!!!

Investment Real Estate Webinar Almost a Sell-Out - Learn How to Pay No Taxes for 2009

2009-08-20T12:01:00.000-07:00

Disillusioned with the Las Vegas high rise condo market? Fed up with Las Vegas real estate in general? Looking for cash flowing real estate with tremendous tax benefits? I'm sure the answer to that question is a resounding yes!

Many of you who follow and/or subscribe to this blog know I've been a proponent of GO Zone investing since the IRS sponsored program came out in 2005. Our latest buying event was a huge success as the entire Tara Brooke development project just about sold out as a result.

Many of the buyers on the call will now Legally be Paying NO Federal Income Tax in 2009! If you missed it and you'd like to learn more about why GO Zone investing blows away anything Las Vegas ever had, you can listen to a recording of the conference call by clicking here. You can also reserve a unit on that webpage using the Discount Code: "COSTA"

Time is absolutely of the essence here, because in order to have the home completed by the end of the year to qualify for the GO-Zone tax benefits, you need to reserve right away. There is only a fleeing moment of time while this tax benefit still exists and then it will be gone forever.

There still are a few units left, so listen to the archived conference call and reserve your unit today

Jewelry hub won’t adorn Symphony Park soon

2009-08-19T10:06:00.000-07:00

From today's Las Vegas Sun:

Plans to build a key world jewelry industry hub in downtown’s Symphony Park will take years longer than originally planned. At today’s Las Vegas City Council meeting, the city and the World Jewelry Center’s Beverly Hills-based developer are set to amend their agreement to give the center six more years to fulfill its original plans — including the option to scale them back.

If this project ever happens, what a much-needed boom this would be to Las Vegas in general, and downtown in particular.

Article on Las Vegas High Rise Condos Says It Best - Maybe

2009-08-04T11:09:00.000-07:00

The Las Vegas Review Journal recently published an article regarding the status of the high rise condo market here in Las Vegas. You can read the article here.

I've heard all the jokes: What does the Las Vegas high rise market and Michael Jackson have in common? - they're both dead. And other jokes along those lines. What are your feelings regarding Las Vegas real estate today on August 4th, 2009? Is there any hope?

I was wondering if you could take time out of your day, read the article, then "Tweet" any comments you may have on my newly created Twitter account. What do you think is the future of this market? I'd be interested in your responses. Thanks!

Latest Economic Indices Not Painting a Rosy Picture

2009-07-02T18:03:00.000-07:00

Here's the most recent data according to R. Keith Schwer of the The Center for Business and Economic Research regarding the Southern Nevada Index of Leading Economic Indicators:

The Index rose a modest 0.6 percent for June, essentially standing still on a month-to-month basis. The sharp decline of the past year or so has at least hit a pause, however. Visitor volume, down a modest 2.89 percent for the same month a year ago, contributed the most to the strength of the index. All in all, we may be starting to get around the corner. We remain cautiously optimistic that a turn up in the index is forming -- giving us some hope that a recovery may start in the next six months or so.

CBER Clark County Business-Activity Index:

The Business-Activity Index continues its downward trajectory, reversing last month’s one-time rise -- a one-month change that was only a desert mirage. The index offers a perspective of the stage of the business cycle we are in. In short, a recession is from peak to trough and a recovery from trough to peak. Taken as a whole, we have strong evidence that the recession we are in continues.

CBER Clark County Tourism Index:

The Tourism Index improved for the third month in a row, though up a modest 0.79 percent over last month. The rise in visitor volume explains this strength. Aggressive advertising of value opportunities seems to be working. To be sure, this improvement is modest and has yet to gain enough momentum to curtail the recession, but clearly this is a glimmer of hope for better things to come.

CBER Clark County Construction Index:

The roller-coaster decline in construction that started from 2006 has pushed the
index below the values when the index starts in 1995. The index shows a one-month rise of 2.17 percent. Still, the index is near and all-time low. Moreover, the prospects for improvement remain weak. We lost about 15,000 construction jobs over the past year. With excess residential, commercial, and industrial space, further contraction seems inevitable at this time.

Are you on Twitter? Follow Me!

2009-06-16T16:41:00.000-07:00

I finally gave in - after months (and literally MONTHS) of everyone I know trying to get me to put a presence on Twitter, I finally caved in and did it. Here's my Twitter page:

http://www.twitter.com/highriser

In the short time I've been online with this, I have to admit I am totally addicted to it. It's great - and it's skyrocketed my video and text business to the point where I'm so mad at myself for not doing this sooner.

Granted, you have to work at it. You have to post valuable info (called "tweets") so people will be more inclined to "follow you". The viral marketing concept that you can create with this platform is mind-boggling.

So take it from me. Get on Twitter today and start Tweeting. If Shaquille O'Neal can do it, so can you. And it's actually kind of fun as well.

Learn to Build Your Real Estate Business Sending Video Emails

2009-06-04T13:40:00.000-07:00

Do you know what the most effective form of internet marketing is? it's email. Email works - and that's why you get so much spam in your inbox each day. As real estate agents, we're all looking for the next best thing so if you're in the business, I need you to read the next line carefully:

Adding campaign video to your marketing arsenal has the potential to skyrocket response rates and in turn, result in more income for your real estate business.

I use video email almost exclusively now and I love it. In fact, I created a website to showcase the Attain Response platform at the following link:

http://www.videoemailresults.com

We are having an informational meeting tomorrow morning (Friday, June 4thth at 11:30am) to explain how this platform can help you with your real estate career. This is NOT a webinar, seminar, or anythingelse-ar. This is a live meeting which you can attend in person.

The event is by invitation only. Sorry for the short notice, but if you'd like an invite (and will DEFINITELY attend), please respond by email or call me direct at 702-336-5554. If you're serious about succeeding in your career in a down market, 1 hour out of your day is a small price to pay.

Uncle Jay Explains the Deficit

2009-05-26T12:05:00.000-07:00

Can it be any clearer? Check out this video which may explain the mess we're all in with the real estate, banking, and stock markets.

Now why didn't I think of that?

Inspirational Messages Directly to Your Cell Phone

2009-05-08T15:48:00.000-07:00

In this down economy and doom and gloom all over the place, it's probably a good idea to get some positive reinforcement every once in a while.

I recently signed up to receive daily insights and inspirational text messages right to my cell phone on a daily basis. check it out for yourself at this link

If it helps us all whether the Las Vegas high rise condo market and real estate industry in general until things get better, I'm all for it. Hope this brightens someone's day!

When you see "Short Sale", Move On ...

2009-05-07T12:23:00.000-07:00

Whether you're looking to purchase a Las Vegas high rise condo, or just any type of Las Vegas property, save yourself some time and pass on the "Short Sale" deal. Short Sales are sexy... they're alluring.. and they're a total waste of time.

Most buyers will see "short sale" and put in a low-ball offer to see what happens. Well, what happens is the bank sees tons of these offers, and they don't like any of them. So they counter with "highest and best". Then they'll take what they consider the best offer and wait under the guise of determining whether or not to allow the sale.

What they're doing in real life is waiting for an even better offer to come to the table. Short sale buyers may wait months for their deal to move forward, and even then the bank can kill the deal anywhere in the process. Meanwhile, real deals and real bargains out there are taken by other investors and home buyers.

It happens with houses, it happens with condos, it happens with high rises. Here's my advice: foreclosures, YES... short sales, PASS.

Good News and/or Bad News Regarding the Las Vegas Real Estate Market

2009-04-24T10:24:00.000-07:00

According to an article published in yesterday's Las Vegas Review Journal, real estate prices in the Las Vegas Valley are now at 2001 levels. That's the good news AND the bad news in one sentence depending on how you look at it.

But wait: there's even MORE good news and bad news in the same sentence because the Review Journal today just published another article saying it's possible the median value of homes in Las Vegas could now drop to $100,000.

I guess it would depend on whether you were a buyer or a seller to determine if this is good news or bad. You don't need a Crystal Ball to know we're in a very challenging economy and real estate market.

Is this the bottom? Who knows? ... but can you sit there complaining and hoping your life will change for the better? I don't think so. The truth of the matter is not everyone is struggling. You can either find out what they're doing, or continue to wait for good news in print.

Allure Las Vegas High Rise Are Taking Their Units To Auction - Beware of HOAs

2009-04-16T10:53:00.000-07:00

The Allure high rise condo project is putting 10 of their units up for auction at 1:00pm on Saturday, hoping that a successful auction will set an industry standard for similar high rise condo dogs such as Trump, Streamline Tower, Turnberry Towers, and Palms Place.

The units being auctioned are from original buyers who chose to walk away from their deposits rather than close, hence allowing for the "bargain basement" type price environment an auction usually promises, but many times does not deliver since "bid-frenzy" usually causes an eventual over-bidding of value - whatever that "value" actually is, as no one can tell what the value of an Allure unit should be.

Alan Schactman, senior vice president for Chicago-based developer Fifield Cos. (the developers of Allure) said the 427-unit Allure is about 50 percent sold. I don't believe it. I also don't believe his statement that "This (auction) is a one-time deal. I do not anticipate another auction. The market is picking up. I think after this auction, we're probably going to raise prices."

With statements like that, you know you're being taken to the cleaners. (remember those famous lines: "I'm from the government - I'm here to help you" and "The check's in the mail"... or "Of course I'll respect you in the morning")

The sad fact is the high rise market is not picking up. And you'll probably be able to pick up an Allure unit in the future at way less than you'll get at an auction. What really scares me about so many failed high rise condo projects that are trying to close unit sales is the total ommission of those 3 hated letters: HOA.

Does anyone consider what their Home Owners Association fees will be when they purchase a high rise condo? If all the units are sold and people are living in the building and all is fine in wonderland, HOA fees are stable and affordable. But what if that's not the case? Your HOA fees can skyrocket and I'll guarantee you that you'll wish you skipped the auction and invested in recession resistant opportunities instead.

Marketing Company Inks Sweetheart Deal from LVCVA - Especially Without Any Competition

2009-04-15T12:37:00.000-07:00

The Las Vegas Convention and Visitors Authority just approved a new three-year advertising and marketing deal with R&R Partners, creators of the "What happens here, stays here" advertising slogan.

Now I will give you that "What happens here, stays here" is probably one of the most successful marketing campaigns in the history of advertising, but I'm a little confused that R&R Partners won the contract without an open bidding process. We're talking $400 million dollars in spending by the authority over the past 5 years. Shouldn't other agencies at least have a shot at that kind of prize, especially since every other advertising campaign they've utilized since their homerun slogan have been total failures?

According to Rossi Ralenkotter, president and CEO of the Convention Authority, "We don't have the time to do on-the-job training for another agency"... Sounds suspicious. (kickback perhaps?).

We're in a very crucial period of time for Las Vegas and the nation in general. There's outrage all around with how large companies are being bailed out only to see the funds (that we pay for in taxes) get used for bonuses, vacations, and junkets for the very executives who got us into this problem to begin with. Meanwhile, many Las Vegas high rise condo buyers are stuck with horrible purchases, debt that will never go away, and thinking that walking away from substantial deposits is their best option in this market. Where's the Las Vegas high rise condo bailout?!?!

This competition-free, inner circle friendly, "nobody will notice" type deal with the LVCVA is just another story that makes me sick on how companies spend money and award contracts. Let's hope R&R lives up to their end of the bargain and comes up with something that'll get people to visit, spend, invest, and maybe even relocate to the Vegas area again - otherwise there's no hope that the Las Vegas real estate market will recover in a timeframe that will make the CityCenters of the world happy.

Turnberry Tower hands off Ownership Key to Prudential Financial

2009-04-07T14:16:00.000-07:00

In a move that may signify an emerging trend in the Las Vegas high rise condo marketplace, Prudential Financial now controls the Turnberry Towers high rise project after buying its outstanding debt from their lenders. While Turnberry Associates is still in the picture, Prudential has bought the undisclosed amount of debt from Bank of America and as such, Prudential is now the partner that'll make all the decisions.

This move effects mainly the west tower, recently completed last year, yet struggling mightily to sell units, as almost 50% remain unsold while a significant number that have closed remain vacant. In this recessionary economy, prices sought by Turnberry for their units are still extravagant and apparently more pain is necessary before they realize their overpriced nature.

Now that Turnberry has been "bailed out" so to speak, will we see similar projects take this route as well? Only if they're lucky. Industry "experts" - and you know how we feel about experts, especially in this environment - say Prudential got a good deal and basically picked up real estate at a highly discounted price. Said attorney David LeGrand:

"In this economic environment, it makes sense to improve your financial portfolio at a discount if you have the money."

If you have the money... oh, that's a good one! Does he think everyone is an accredited investor?

Main Stages of a Real Estate Bubble (With Specific Respect to Las Vegas High Rises)

2009-03-21T15:33:00.000-07:00

I'd like to summarize an interesting article someone just emailed to me. Here's a timeline for the anatomy of the real estate mess we find ourselves in as a nation:

Take Off: 1998-1999
First Sell Off: 2000
Media Attention: 2001-2002
Enthusiasm: 2003
Greed: 2004-2005
Delusion: 2006
Denial: 2007
Fear: 2008
Capitulation: 2009-2010
Despair: 2011-2013
Return to the Mean: 2014

Sounds about right. Backed up by 500 years of economic history, the timeline applies pretty well to the current real estate bubble. In fact, 4 main stages can then be identified:

1) The Stealth Phase: With better access to information and a higher capacity to understand it, this is where the "smart money" gets in, often quietly and cautiously. As prices gradually increase, larger positions are established as the "smart money" insiders realize that the fundamentals are sound and they have a winner on their hands. The general population has no idea what's happening at this point.

2) The Awareness Phase: This is when investors start to figure it out and bring additional money that push prices higher and higher. You also see short-lived selling off periods as the "smart money" people cash in on their first profits and during each of these "sell offs", the smart money people take these opportunities to fortify their portfolios. They do this until the media gets involved and brainwashes the general public that they're just as sophisticated as the "smart money" group - which they're not and never will be.

3) The Mania Phase: Thanks to the lack of an unbiased opinions in the media, everyone seems to be making money in an "investment deal of a lifetime". Getting into the deal is a "no brainer" and future price increases are "guaranteed", which of course goes against all the laws of supply and demand. Money from all avenues gets pumped into the deal, often from those who can't afford to do so, as the "smart money" people are gradually pulling out and selling to these nouveau "sophisticated" investors. People see enormous paper profits and greed sets in, so everyone starts to use debt and leverage to bid up prices and jump into the deal, despite their lack of knowledge of market dynamics and fundamentals. The bubble is at its breaking point.

4) The Blow Off Stage: This happens when someone finally "gets it" and convinces everyone else at the same time that the situation has changed, often resulting in the classic "reality check". Many will try to reassure the public that it's just a temporary set back and that the naysayers don't know what they're talking about. The house of cards collapses and the late comers to the party (a.k.a. - the general public) are left with the bag while the original "smart money" has pulled out a long time ago. Prices plummet, over leveraged investors go bankrupt, people are afraid of making any types of investments, eventually resulting in a totally depressed market which many then consider "a significant buying opportunity". The problem now is that thanks to the media and the constant biased opinions they face each day, the general public now thinks of this opportunity as "the worst possible investment" which allows the "smart money" to once again acquire assets at bargain bottom prices.

The bottom line is if you've arrived late to the dance with the hope of getting something for nothing, bubbles can be very damaging. It helps to be in the "smart money" class. If you're not - and you know who you are - visit this website and register today

ATTN Seasoned Real Estate Developers and Texas Real Estate Land Investors

2009-03-20T14:25:00.001-07:00

How is this blog post related to Las Vegas high rise condos? It really isn't, except that one of our clients (a Las Vegas high rise condo purchaser from Texas), just made me aware of a very interesting development opportunity in the Dallas Fort Worth area of Texas and wanted me to send out some feelers with the hopes that a seasoned real estate developer or serious land investor may read this post and see a fit.

It's a 200 acre parcel of land in an amazing location just waiting for the right developer. And it's priced right as well. You can view the details at www.dfwtexasland.com

Brokers are welcome on this project, so if you are looking for a Land Development Opportunity in the Dallas Forth-Worth area of Texas, then you need to look at this 200 acre parcel situated in close proximity to the Dallas Forth Worth Airport and adjacent to major highways -- A Texas land developer's dream!

Call Frank toll free at 866-363-4657 for info or send an email here.

Everyone's To Blame for Failure of Las Vegas ManhattanWest Condo Project

2009-03-10T12:21:00.000-07:00

What happens when you let a software engineer develop a high profile Las Vegas condo project? You end up with a non-completed mid-rise eyesore where the developer faces more than $30 million dollars in liens attached to his Las Vegas condo development.

Now developer and former computer dot-commer Alex Edelstein says he's looking for investors to help him finish the job. His lien holders, however, say he's no where to be found and won't return phone calls. There's nothing worse than a developer who doesn't know how to develop and that seems to be the case with the ManhattanWest project.

But Edelstein surely isn't the only one to blame for this yet another Las Vegas condo fiasco. It seems construction issues had become quite severe during the entire build - and no one caught them until ManhattanWest's project manager finally started to investigate, finding some 58 building code violations that hadn't been resolved in over 18 months!

With faulty structural concrete and an inadequate fire safety system that was installed by unlicensed subcontractors that did not meet code requirements, Manhattan West turned to E&E Fire Protection who then saw an easy score and (rather than make some modifications) decided to replace the entire system and is now owed about $3 million.

Then there's Hydro Pressure Cleaning, a company that charged the project $500,000 for seismic repair on concrete columns. $500,000 for a third party construction service!!!

And by the way, where were the Clark County building inspectors during all these violations? How could the project have come this far to begin with?

Now I don't blame Edelstein for not paying for sub-standard work or excessive bills, but it seems to me he should have performed a complete audit on what was going on with his development - a process that all the big timers do all the time.

With this kind of followup, I'm afraid it's going to be difficult for him to find the "bona fide" investors he's looking for to bring real offers to the table and get the money needed for project completion. I'm reminded of OJ looking for the "real killers"...

If you're one of those high rise condo or mid rise condo investors who bought into this ManhattanWest project (or the original Manhattan Project on the South Strip for that matter), please contact me for a special investment update. (name and phone number please)

Competition Non-Existant at the 2009 REMAX Convention for Las Vegas Real Estate and High Rise Condos

2009-03-05T12:12:00.000-08:00

To put it mildly, I'm simply amazed! I know times are tough and all - and many real estate companies are struggling just to stay in business. But how amazing is it that our office is the ONLY Las Vegas real estate brokerage exhibiting at this year's REMAX Internation Convention?

And for those of you who aren't aware, the conference is actually being held... IN LAS VEGAS!!! It's not like other offices had to even travel to get here. Like I said, I'm just amazed. Not disappointed, mind you, because although attendance at this year's event is noticeably down, the people who've stopped by our booth to talk to us and the connections our office has already made at this event has been outstanding.

People have actually stopped by asking about referring clients to us who are interested in buying Las Vegas real estate. We've gotten inquiries on Las Vegas foreclosure bargains, Las Vegas investment properties, and - believe it or not - Las Vegas high rise condos. It's nice to be the only game in town (or at least at the MGM Convention Center for 4 days!!!)

In fact, an agent in our office just set an appointment this afternoon to tour Turnberry with a perspective high rise condo client who just visited our booth this morning. Yesterday alone, we added about 50 people to our investor database and one agent got a lead on a institutional buyer for a 12 million dollar land deal.

I wonder how many of these potential clients we would have received if we had any competition at the show. Viva la recessionne!

REMAX Convention Is Next Week at the MGM Grand - And We're Exhibiting at the Show!

2009-02-23T12:22:00.000-08:00

The 2009 RE/MAX International Convention will be held next week at the MGM Grand Convention Center from Monday, March 2nd through Thursday, March 5th. Our office will be exhibiting at the event to talk to agents and customers about Las Vegas high rise condos, foreclosure investing, cash flowing commercial investment opportunities and the Las Vegas real estate marketplace in general.

In addition, we'll be doing interviews at the show for inclusion on the Vegas Convention Videos website, which showcases videos taken at various conventions and tradeshows to a targeted audience based on a variety of specific keywords. Visit www.vegasconventionvideos.com for more information on a very useful (and free) resource.

If you're attending the show, contact me and let me know - and perhaps we can get you on video to talk about your company, products, and services.

Video Showcases Las Vegas Luxury High Rise Living in Park Towers and More

2009-02-13T12:38:00.000-08:00

Here's a video we just created last night with a very strong agent in my office, Robert Sibulkin. This video was shot at Park Towers, an extremely exclusive high rise located at the Howard Hughes Business Center, and the unit is on the market for just over $3 million dollars. Watch the video with the great Las Vegas Strip views in the background and you'll get an idea what Las Vegas high rise living is all about!

Are you ready to reap the benefits of all your hard work and start living the Las Vegas high rise lifestyle in complete and total luxury? Perhaps this unit is for you. If you're a high net worth individual, we'll show you a whole new world if you contact us today.

January Indices Illustrate Tough Times Still Ahead for Las Vegas High Rise Condo Market and Las Vegas Real Estate in General

2009-02-03T15:22:00.000-08:00

The Center for Business and Economic Research at UNLV has just released their January Indices and - as you probably would guess - the numbers are not good.

Summarizing the Southern Nevada Index of Leading Economic Indicators:

"The Index of Leading Indicators continues to decline. Not since the aftermath of 9/11 has there been as sharp as this one-month decline. The fall out of the September failure of Lehman Brothers continues to show across the U.S., including Nevada, which some once thought was immune to such national economic events. It is highly likely that we may see a few more months of difficulty before things get better."

Regarding the CBER Clark County Business-Activity Index:

"The Business-Activity Index posted yet another month of decline for November 2008, dropping 5.74 percent on a seasonally adjusted basis. October and November have seen the largest declines over the past year. The fourth quarter of 2008 and the first quarter of 2009 are likely to be the weakest performing period in the current recession, which, if it expends to midyear 2009, will be the longest recession since the 1930s. It is fair to say that the severity of the current recession is likely to last longer and to match the loss of jobs of the most severe downturns in the post-WWII period. Moreover, the longer we get into 2009 the greater the likelihood of hearing more optimistic economic news"

For the CBER Clark County Tourism Index:

"The November 2008 Tourism Index stands 13.53 percent below the index value for the same month a year ago. Gaming revenue also fell to the lowest level since July 2004 and to the lowest revenues for November since 2003. Occupancy rates reached 79.2 percent, the lowest level since December of 2004. The poor performance of Clark County tourism is consistent with our knowledge of consumer spending in a recession. Consumers facing economic hardship and expecting further economic decline cut back on big-ticket items, such as cars and furniture, and discretionary spending, such as travel and holidays. Businesses also cut back spending on conferences, sales meetings, and other travel."

And lastly, the CBER Clark County Construction Index:

"The CBER Construction Index fell to 97.84 for November 2008, the lowest level since 1995. With a large surplus of empty housing units and falling job numbers, prospects for selling new homes remain dim, resulting in a marked decline in permitting. You have to go back to December 1981, however, to find one-month permitting numbers that are less than the recent numbers. Not surprisingly, weak prospects for all types of construction have brought few new projects, cutting construction jobs in Clark by near 11 thousand over the past year."

All of this translates into challenging times ahead for 2009. But remember this: great fortunes are made in down markets. That's a fact you don't see mentioned in this research report or reported ANYWHERE in the mainstream media. Believe it - it could be you!

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

2009-01-29T11:57:00.000-08:00

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!

2009-01-27T19:47:00.000-08:00

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...

2009-01-21T09:53:00.000-08:00

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

2009-01-20T16:34:00.000-08:00

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

2009-01-08T16:11:00.000-08:00

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

2009-01-07T13:12:00.000-08:00

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.

Good News and Bad News Regarding the Fontainebleau Las Vegas High Rise Condo Hotel Project

2008-12-17T16:37:00.001-08:00

Here's the good news regarding the Fontainebleau high rise condo project: their preview center opened last week and officials for the $2.9 billion mixed-use development say their 3,815-room project is on schedule and will be ready to open in less than a year. That's pretty good news, if you can believe it.

Here's the problem: according to an article published today in the Las Vegas Review Journal, the project officials have not made themselves available for interviews and are issuing these rosy statements via company spokespeople. That's not good. Something's up with that, I think - and that's the bad news.

After all the "branding" and the "incredible media exposure" this project is receiving, why won't Fountainbleau CEO Howard Karawan or any other high level company execs make themselves available for the tough questions that surely need to be asked regarding the feasibility of this project.

What's really interesting is that in the very same edition of the Review Journal, there's a story about how construction has stopped on Alex Edelstein's Manhattan West mixed use mid rise condo project. If you follow the Las Vegas condo market, you'll know Mr. Edelstein has made countless statements similar to the one issued by the Fountainbleau insuring people his project will be completed on schedule - but at least he did it in person.

I like the idea and the vision for Fountainbleau, especially it being designated a "Green" building, and I'm keeping my fingers crossed for more good news about this project. But from what I've seen and heard lately, I have a feeling they'll be issuing more press releases - and not in a good way.

This From our Friends at CityCenter: Vdara High Rise Condo Featured Residence

2008-12-08T15:03:00.000-08:00

There's a studio unit with approximately 533 square feet on the 36th floor at the Vdara high rise condo at MGM's Project CityCenter which you can get for $676,000.

Got the extra money lying around doing nothing? Want to buy into a very prestigious property? Great! - Vdara at CityCenter is still top-notch long term as far as Las Vegas high rise condos go.

... But don't do it for cash flow... Don't do it for appreciation... Do it because you feel you deserve it and it won't hurt you financially. Here's the offer flyer we received on this deal

Then contact us and we'll help you make the deal.

Real Estate Agents and Mortgage Brokers: A Bad Economy Doesn't Mean You Can't Make Money Today

2008-12-08T13:11:00.000-08:00

Readers of this blog by now know that I've been working with a private financial firm that's providing some significant recession proof type investments to their clientele. What's great about this group is that while everyone's complaining about a down economy and a lack of movement with good real estate sales and mortgage opportunities, their clients (and now mine) aren't feeling ANY kind of recessionary pinch. Why? Because of the unique investment deals they bring to the forefront.

So how does this benefit you, the mortgage broker or real estate agent that's seen their steady supply of real estate buyers and sellers dry up (especially with the Las Vegas high rise condo market)? Here's how: the company has just established an affiliate program which now allows YOU the opportunity of providing the alternative products and services they offer to your clients as well.

Trust me when I tell you this is an incredible opportunity to stay in front of your clients and suggest investment opportunities for them that'll make you look great (while you wait for the real estate market to rebound). I know - I've been showing would-be Las Vegas high rise condo purchasers who are afraid to enter this market right now some extremely attractive cash flowing (and recession-proof) investments that yield double-digit returns with a very low degree of risk in today's market. That's right - TODAY!

If you're a mortgage broker or real estate agent that deals with a high end client (such as luxury property) and are NOT making the kind of money you want to, please contact me to explore the opportunity of applying for this affiliate program.

This is NOT MLM or any other "home based" business nonsense and there is no cost whatsoeveer to get involved. This is an extremely credible way to show your high-end accredited investor clients that you stay abreast of all financial developments and are constantly looking out for their interests, no matter how poorly the traditional marketplace performs.

What's a 10 minute phone call compared to having to sit around frustrated that you're not making money because Las Vegas real estate's not moving? I'm awaiting your email (name and phone number please) or call me at 702-688-6454...

Sitting on the Sidelines? Get Double Digit Returns While You Wait for the Las Vegas High Rise Market Correction

2008-11-24T14:54:00.000-08:00

That's right, DOUBLE DIGIT returns!

So many investors are sitting on the sidelines these days waiting for when they'll feel "safe" about making another investment in these recessionary times. Some reports estimate that figure to be almost $7 TRILLION dollars nationwide. That's a lot of cash waiting for an opportunity.

Opportunity's a-knockin': I have a situation developing right now in a cash flowing commercial real estate deal in the medical industry that's actually paying significant returns to investors right now. The opportunity is structured as a tenant-in-common (TIC) property with a $250K minimum investment.

Now most people don't just have $250,000 lying around doing nothing, but if you're currently involved in a 1031 exchange and need to identify replacement property, this deal's for you. Or if you're sitting on a nice IRA that hasn't been beaten down by the market, then this deal's for you as well. (Did you even know you can self-direct your IRA - it's easier than you think and I work with a resource that knows how to do this hassle-free).

As most real estate investors know, the TIC market has slowed considerably over the years, mainly because even a good TIC property won't generate a high cash flow return, which isn't sexy at all. However, because of a very unique and creative situation, this medical TIC is structured to do just that.

... Cash flowing commercial property in the medical industry with double digit returns in today's market?!?! Aren't you glad you read this post? ... Let me give you the details so you know this deal is for real.

Read the press release here and contact me RIGHT NOW at 702-688-6454 or by email here (name and phone number please). Because a TIC has a finite number of investors, there is urgency involved as there are LIMITED AVAILABILITIES in this project.

Make your money now so you can afford the Las Vegas high rise condo when the market heats up later!

The Las Vegas Real Estate Market: Everyone's Guessing

2008-11-12T10:45:00.000-08:00

Did you know that Las Vegas real estate was "in the toilet", according to last month's Crystal Ball housing outlook?

"The truth as I see it today is that the real estate market in Las Vegas is in the toilet," said Larry Murphy, president of real estate research firm SalesTraq. "And the sad probability is that it will stay in the toilet a while longer."

My response to all the experts: Ever tour some of the new homes in Vegas? - They have some pretty nice bathrooms! Fast forward a few weeks and you have today's report that foreclosure filings have dropped to their lowest level since May. One day, an "expert" will tell you one thing - then the next day you'll hear another report from another "expert" saying something different.

Everybody's guessing. That's the bottom line. Analysts need something new to analyze. Publishers need something new to publish. Las Vegas high rises are good - no wait, they're bad. Invest in foreclosures - no, short sales are better deals - no, get into land... Everyone's guessing. But despite all the negative stories coming from all the media sources out there, believe it or not, buyers are still buying real estate (las vegas condos included) and sellers are still selling. Are they all idiots? Or are they just taking advantage of the market downturn and creating opportunity for themselves?

People sitting on the sidelines like to say things such as "great... a real estate agent telling me real estate is a great buy now", as they sit in their living rooms envious of their neighbor that just positive cash flowed a rental property as a result of a foreclosure deal. Marketwatch.com recently wrote an article on how investors are fleeing the market wondering what to do with their cash sitting on the sidelines.

Do you want to be a victim? Then sit there and do nothing. Remember, action creates results - YOU NEED TO TAKE SOME KIND OF ACTION IN THESE UNCERTAIN TIMES, whether it be in real estate or elsewhere!!! Finding recession proof investments is a good start for now (and they're out there - as long as you don't turn on the TV or read the newspaper).

Here's some tough love folks: Whether the Las Vegas real estate market is in the toilet or not, sitting there doing nothing just makes you part of the flush.

Think you can close on that Las Vegas High Rise Condo? Not So Fast...

2008-10-14T14:59:00.000-07:00

It doesn't matter how rich you are these days - securing a mortagage for a Las Vegas high rise condo is getting harder and harder, even for those with no credit issues.

For example according to a report by Duestch bank, closings at Trump are now at a horrendous 21%, while Palms Place is reporting closing at a 57% clip. And why? Lenders are now asking for 50 percent down on their high rise condo deals, and that option's only available for those with excellent credit to begin with.

With interest rates on 30-year fixed on a condo-hotel going as high as 8% and above, it's becoming increasing clear that even those with the means must start looking at alternative investments for now as the credit markets continue to struggle.

Many would-be high rise condo owners are now walking away from 6-figure non-refundable deposits - and if that's their best option, something's not right. Are condo fractionals the answer? At least you can make a case for them being cash flowing investments in an uncertain Las Vegas high rise condo market.

But folks, if you're going to buy a high rise condo in Las Vegas, do it all cash, and make sure you can handle the uncertainty for the next 2 years.

Planet Hollywood Towers Offers First Las Vegas High Rise Condo Fractional Ownership Opportunity

2008-10-07T15:04:00.000-07:00

I knew it was going to happen. I knew it 2 years ago when I bought this website domain. I just didn't know if would take this long.

Leave it to Planet Hollywood to partner with Westgate Resorts to offer the first Las Vegas high rise condo opportunity packaged as condo fractional ownership. And folks, believe me - if you've never heard of condo fractional ownership, you most certainly will in the very near future as it's the ONLY way high rise condo purchasers can buy units with the intent on cash flowing.

A high rise condo in Las Vegas positioned as a high yielding, cash flowing investment? Who would have thought? - Yet condo fractional ownership makes that extremely possible.

In fact, in today's market, I'd be shocked if the other projects in town didn't adopt a similar model. I've been saying for quite some time now that condo fractionals are the answer to the overpriced high rises you see on the strip and elsewhere. With the economy as it currently is (and your options for putting your money in profitable vehicles being at a minimum), condo fractional ownership is an idea whose time has come.

When most people think of fractional ownership, they generally think about how airplanes are purchased and used by the ultra-wealthy and the business executives of the world. Now you can take that concept to build your own wealth on the Strip with Planet Hollywood Towers leading the charge.

I have only one question: What took so long for this idea to enter the Las Vegas high rise condo marketplace? Perhaps there's a negative connotation with that ugly "timeshare" word. Well, rest easy, because let me stress that condo fractionals have nothing to do with timeshare sales, with the biggest diference being with fractional ownership, you're purchasing deeded real estate, and not a certificate you can hang next to your Who's Who nomination award from 1984.

So if you've been wondering why I haven't posted more often to my blogs, it's because I've been spending every waking moment scrutinizing this product and learning as much as I can so I can feel confident recommending condo fractional ownership to my clients. Which after countless hours of research, I believe I can in resounding fashion.

I also believe the Planet Hollywood Tower condo fractional ownership program in particular is a huge winner as well. This project gives you a chance to own a piece of the Strip without having to break the bank with premier resort luxury at prices the average family can afford - meticulously furnished and amenity filled 1,2, or 4 bedroom condo units are available in weekly increments at preconstruction prices. Again, this is deeded real estate to a piece of prime property in the heart of all that's Las Vegas. The exact same rights of regular home ownership apply in that you can use it, rent it, sell it, will it, and (as a bonus of Westgate affiliation) even exchange your condo to over 2,000 resorts in 81 countries!

Ownership opportunities are available from $24,900 and delivery is expected in late 2009. (View the construction webcam). I see no downside to this, so please contact me if you're interested, and I'll show you how to get up to a 10% discount that no one else will tell you about. (I told you I did a lot of research on this!).

Your "Hollywood" playground awaits your arrival. Definitely get in touch with me for a personalized tour and I'll show you exactly why I'm in love with this fractional ownership concept! You can also get more information by filling out the form on the top-left side of this website as well.

Good News? Boyd Gaming Reaches Agreement to Build on Stalled Echelon Project

2008-09-26T13:46:00.000-07:00

Boyd gaming has reworked an agreement they made with Morgans Hotel Group which in effect makes it entirely possible we'll see movement with the $4.8 billion dollar development.

The deadline to obtain construction financing has now been extended through 2009 and Boyd Gaming will now return a $30 million dollar deposit plus interest. The result is Morgans having sole control over the use of all brands associated with the development.

Too bad it's not that easy for your everyday, typical, high rise condo purchasers to have their deposits refunded for the units they now longer wish to close on.

"Well, you see at the time, I thought it was a good idea to buy that high rise condo, but now that it's worth maybe half of what I bought it for, I no longer want to close, so please refund my deposit... and by the way, I'd like interest on all that money as well." Try that line out on Trump, or Allure, or MGM, or any of the other projects in town that are having a tough time converting contracts to closings.

So is this good news? Perhaps - but keep in mind this new agreement can be terminated by either company at any time before December 31st, 2009. Like with the Major League Baseball season, we may have to wait until the last minute to see how things shake out.

In the meantime, may I suggest some Las Vegas condo foreclosures? Plus there's many other options were you can put your money to use with high yield investments as well.

Is the Metropolis High Rise Condo Project in Las Vegas a Diamond in the Rough?

2008-09-11T20:20:00.000-07:00

The Metropolis high rise condo project is quickly becoming an obsession for those in the know who are closely watching the Las Vegas high rise condo market.

Why? Because it's making a great source for investors looking for low bank owned properties. "But aren't ALL the high rise condo projects in town basically in the same boat?" you may ask.

While that may be true, the Metropolis is the only one with stunning views of Steve Wynn's golf course property, a property which - if you believe the rumors, will soon be undergoing a dramatic change, as in the golf course giving way to another AMAZING high rise condo project that'll contain perhaps the most extravagant hotel and casino in Las Vegas. If and when that happens, views and the actual location of the Metropolis will be even more priceless.

You all know how developers in Las Vegas love to outdo each other. When CityCenter was announced as perhaps the most prestigious project to date, it didn't take long for Sheldon Adelson to build the Palazzo/Venetian and the St. Regis brand that'll soon go along with it. Likewise, I think Steve Wynn has something similar up his sleeve with respect to the land his golf course currently sits on - a project that most likely will put CityCenter to shame (as if the St. Regis Residences hasn't done that already!) and outshining, out-doing, and as we say "out-high-rising" the Adelson's of the world.

While this is still just a vision, Mr. Wynn has already petitioned Clark County to rezone some former residential land, along with the Wynn Las Vegas golf course as "H-1", which means there's a good chance that him and myself think alike regarding putting that land to a more high-density use.

So do you agree? Is the Metropolis the new sleeper project in town, where you can get great foreclosure deals with the hope of a major score in the not-too-distant future? Check out these listings of bank foreclosure condo properties at Metropolis and then contact us for more information on how we can get you the best deal on whichever one (or ones) you like.

How about this one - my favorite... a bank repo 2252 square foot, 2 bedroom, 2 bath, top of the line condo unit with phenomenal views priced at $235/sf!!! (Shuusshhh... I'll bet we can get that one for you for even less than that...)

See ya, CityCenter! St. Regis Residences to Open in Las Vegas - Newest High Rise Condo Project To Provide The Ultimate in Luxury

2008-09-09T10:52:00.000-07:00

When the Las Vegas Sands teams up with Starwood Hotel & Resorts, amazing things happen. Case in point: in a joint venture between the two, the world renowned St. Regis brand is now set to enter the Las Vegas high rise condo marketplace with 398 private luxury residences currently under construction between the Las Vegas Sands' Palazzo and Venetian resorts located right on the famed Las Vegas Strip.

This news brings this project to the forefront for all discerning high rise condo buyers searching for the ultimate in luxury, world-class amenities, and high rise life. Suffice to say, the St. Regis name alone makes this project the most compelling and exciting project in town, dwarfing even the presigious Project CityCenter in my opinion.

Here's the bottom line: quality and luxury sell in any type of financial environment. Add to that the premium location of these residences which make the St. Regis perhaps the rarest of opportunities to live the ultimate in high rise condo lifestyle in a one of a kind residence on the Strip.

When this high rise condo project opens in March 2010, the St. Regis Residences unit owners will be treated to everything that's made the St. Regis brand the finest in the world, including the signature St. Regis Butler Service, meticulously designed interiors with no detail overlooked or expense spared, the custom tailored experiences, access to luxury accommodations in the best addresses in the world, and so much more. The residences will range in size from a 1,700 square foot unit to over 10,000 square feet for a duplex villa with a private pool. Said Venetian owner Sheldon Adelson:

"The St. Regis Residences at The Venetian Palazzo, Las Vegas will provide its occupants a private, secure sanctuary combined with instant access to more than 30 world-class restaurants, two state-of-the-art spa and fitness facilities, four exciting theatres, and more than 150 premium retailers... The glamour and excitement of the Las Vegas Strip will literally be right at your doorstep -- where else in the world would residents of a high rise be able to go downstairs every night and choose between Mario Batali, Emeril Lagasse, Wolfgang Puck, Thomas Keller, or Charlie Trotter for dinner?"
And he's absolutely correct in that accessment! We are currently forming a website and an interest list for this opportunity. Prices are TBD at this point, but as you can imagine, they will not be cheap. Are you ready for the ultimate in luxury living? If so, and you have the means, perhaps you can be one of those fortunate enough to take advantage of this once in a lifetime opportunity.

Las Vegas Cosmopolitan High Rise Condo Hotel Buyers Not In Limbo Any Longer

2008-09-08T10:10:00.000-07:00

Las Vegas has already seen it's share of high rise condo projects that have come and gone. But none have had the staying power of controversy that's been associated with the Cosmopolitan project. One day it's dead. The next day it's back on. The owners change, the financing comes and goes, the rumors persist that someone will step in and build it to completion, then the project's dead again.

No question condo unit buyers in this building have every right to feel like they're riding a very expensive roller coaster ride.

However, the latest news on this project is actually quite good as it realistically looks like this project WILL be completed and unit owners can expect to close on their condotel units in the first half of 2010. Although that date seems well into the future, we all know how quickly time flies, and if all goes as the "experts" predict, we'll be healthily out of the "down market" we still find ourselves in at the present.

Why the optimism? Deutsche Bank paid approximately $1 BILLION at a foreclosure sale and announced the Related Cos. will complete the 2,998 condo hotel development project. Normally, the words "Related" and "complete" are rarely found in the same sentence, but based on what's happening in the market these days, this can only be seen as good news.

Now, condo buyers at the Cosmo can see light at the end of the tunnel. Over 80% of the project has been sold to the tune of $1.35 billion in sales. According to sources familiar with the project, a hotel and casino operator will be announced shortly, further adding to the good vibes being generated with respect to this Las Vegas high rise Strip condo.

Finally, a reason to get involved with the Cosmo. Remember that 80% sold out stat? That only means the remaining 20 are ready for you to act on. Get our take on what you should be doing right now...

Las Vegas Palms Place High Rise Condo Studio Units Available - Owner Can't Close!!!

2008-09-05T16:33:00.000-07:00

What does it mean when a high rise condo buyer in one of the "hippest" Las Vegas high rise condo projects can't close on their units due to an inability to obtain financing in this crazy market? It means YOU get presented with some MAJOR buying opportunities.

How about a 26th floor, 674 square foot high rise condo unit at Palms Place with a gorgeous Strip view for $653,260!?!?!

Or a 34th floor studio with views of the mountains for just $525,300.

Why so low? These prices are based on "employee discounts". If you've done your high rise condo shopping and have studied what's been going on in this Las Vegas real estate marketplace, you'd have to agree these are two sweet deals.

And the best part? For this deal, the developer (Palms Place) is actually allowing a contract assignment in this case. In other words, you - the buyer - get a contract officially assigned to you straight from the developer. No hassles or worries. Just step in and sign and it's yours.

Need I have to remind you of the dedicated concierge services available 24/7... your exclusive, toll-free number and special invites for your Inner Circle arrangements... the complimentary access to Palms Place Spa and Hammam, including a state-of-the-art fitness center... pre-sale ticket purchase notice for concerts and events at the Pearl Concert Theatre... the special invites to select events and activities at the Palms Casino Resort... the owner's only VIP check-in lounge... pre-arrival grocery shopping service... access to an in-room chef... assistance with golf course tee times... or the complimentary use of a Palms Place limousine airport service??? And we all know how spectacular the rest of the amenities that the Palms Place is associated with.

The Palms is quite an exclusive project and has been sold out for as long as I can remember. Even when fallouts happen, this project has seen success and units go fast. And it's already built and it's ready for YOU. Contact us now for more information on how you can take advantage of this Palms Place condo deal.

Bank Owned GREAT Deal in Prestigious 89113 Zip Code in Las Vegas, Nevada

2008-08-29T11:42:00.001-07:00

... Okay, so it's not a high rise. But here's a property you have to take a look at if you're in the market for a bargain. It's a 2 bedroom, 2 bath unit with a balcony and garage located in the prestigious 89113 zip code in Las Vegas, Nevada - located right down the street from the private Spanish Trail Golf Country Club.

This property is located in a gated, plush community with three luxurious pools surrounded by palm trees and lush landscaping; private bar-b-que area, spa, clubhouse, billiards room, two story work out facility with sauna, tennis court, security; all in a prime location one block from the 215 and 10 minutes to Strip, 15 minutes to airport; less than one mile from a new state-of-the-art hospital, a block from a proposed Stations casino, across the street from gaming, walking distance to shopping, restaurants, grocery stores, nail salon, yogurt, etc.

At $99,900 - this is a bank owned property looking to make deals right now. That's not a misprint - less than $100K!!!! You couldn't possibly ask for a better deal than this. They say pictures tell the story, so have a look at these and then contact me immediately for status (it may already be gone by now).

Let Them Eat Cake Part 2: Las Vegas High Rise Condo Unit UNDER $200K!!!

2008-08-29T10:27:00.000-07:00

What a coincidence! Yesterday, we invoked the famous Marie Antoinette's "Let them eat cake" line, and today comes news of a great Las Vegas high rise condo deal in a "Marie Antoinette" subdivision, 2 blocks from the Strip and next to the Hard Rock Resort / Casino.

This 2nd floor studio unit with a balcony overlooks the pool area - tennis, clubhouse, work-out facility, porte cachere, doorman, top security, set on acres of lush in the middle of the pulse of Las Vegas. All this for under $200K - Priced at $189,000

Here'a view from the balcony. For all you who thought high rise living close to the Strip without paying through the nose was an impossibility, now's your time to act on this rare old Vegas high rise. - or Click here for a Las Vegas luxury property UNDER $100K

Let them eat Las Vegas High Rise Condo Penthouse Cake? I don't think so!

2008-08-28T14:10:00.001-07:00

Remember this post?

Well, that Las Vegas high rise condo penthouse unit is getting ready for foreclosure. If you want to find out about the inside deal and how you can pick this unit up for about a million dollars less, you need to contact us IMMEDIATELY.

Are Banks Now Scamming the MLS?

2008-08-25T09:55:00.000-07:00

Speaking from a real estate agent's point of view, it's becoming more and more increasing clear that banks are manipulating the multiple listing service (MLS) into their own personal auction service. It's about time that some kind of control needs to be placed on MLS price points as a result. Here's what's happening in the Las Vegas real estate market right now:

You take a high end property in foreclosure with nice amenities (on the golf course for instance) with tons of upgrades which the bank offers for "only $50,000" on the MLS. A luxury home for a bargain, right? Ladies and gentlemen, start your offers! What a deal!

Buyers go to Realtor.com and see these low prices and think they're getting a deal. Then, when they place an offer, they immediately get a fax from the seller (bank) saying the property is in a multiple offer situation (and why not - everyone's seeing these amazing low prices), and they (the bank) now want a new offer which is the client's (buyer) "highest and best offer".

And guess what happens to the "great deal"? Can you spell SCAM? The effect is that banks are allowed to auction off their properties without actually admitting what's really going on! Now the buyers are all turned off by the rules of this new game and walk away with a bad taste in their mouth, with further distaste for the real estate agent and the bank.

Whether it's Las Vegas high rise condos or regular residential real estate, don't us real esate agents actually have to PAY for the MLS? Shouldn't we be offering real deals to clients without the pie in the sky hopes of a bank accepting some ridiculous short sale outcome that probably will never close in the first place? Should clients have to put up money that has to sit for months before banks decide to accept or reject the deal as their "best offer"?

What on Earth is happening here?

Will You Heed the Advice of Foreign Investors Regarding Las Vegas High Rise Condos?

2008-08-23T16:04:00.000-07:00

Yes, El-Ad's project on the former Frontier property has been put on hold. But their partner Nochi Dankner doesn't seem too concerned. Danker's just recently refinanced and upped their stake in the Queensridge high rise condo project in Summerlin and also have their eyes on the Tivoli Village project next door to the tune of $850 million.

Then there's the Africa Israel group, who acquired the former "W Hotel" (and Las Ramblas for that matter) site and are in the process of moving that project forward with a whole new design at a considerable cost.

And we all know how active Dubai has become in this Las Vegas high rise condo market.

Truth is, there's a lot of foreign investment happening in Las Vegas RIGHT NOW, mostly by groups out of Israel, where top level real estate analysts say they are "unmoved" by the doom and gloom media reports we hear each day. Word on the street says planning for the Plaza project will be ready in less than a year, so bet on that project happening as hopefully the economic conditions will be a bit more positive.

Heed the words of Segi Eitan, the CEO of "Property and Building", a major holding of Nochi Dankner's IDB group:

"If you want to make money in life, you have to take risks. There's no such thing as reward without risk. Looking backward is no great trick. I remain optimistic about the success of this project... These are some of the best luxury high rise condos constructed in the city. When the storm passes, these condos will go at the speed of a missile launch."

Translation: Queensridge is a winner! Luckily for you and me, we don't have to be on the other side of the world to see what's happening right here in the Las Vegas real estate marketplace - we can get involved with just a click of the mouse!

"M" Stands for "Movement" with Las Vegas High Rise Condo Hotels

2008-08-14T12:34:00.000-07:00

Boyd gaming may have pulled the plug on their Echelon project until the economy improves, but not all high rise projects in Las Vegas are taking that same approach. Case in point: Anthony Marnell III's $700 million "M" project is fully funded and heading on schedule towards an early 2009 opening.

The 11-story M Resort, located on the South Strip at St. Rose parkway and Las Vegas boulevard, will consist of 390 rooms and suites; 90,000 square feet of gaming; 40,000 square feet of meeting and convention facilities; a wine cellar and tasting room; a top floor lounge; 9 restuarants; and a 20,000 square foot spa along with a 2.3 acre pool and event area.

The key word in the above paragraph is "will". This project is happening despite the econmonic conditions we all read about every day.

Add to all that plans for 6,000 hotel, condo, and condotel units and more than 1 million square feet of retail and you finally have some positive news on the Las Vegas high rise marketplace for a change. At last week's "topping out" ceremony for the project, Marnell explained his project's success as follows:

“Some projects now in turmoil were started with corporate revolvers; it was assumed that financing would be available at a later date and then the market fell apart and the revolvers ran out or were running out,[forcing the projects were canceled or put on hold]. We weren’t in that position; we’re not a big corporation, we didn’t have a revolver so we needed everything in place to get started.”

Rational Vs. Irrational: What a Difference That Makes

2008-08-05T18:21:00.000-07:00

"Irrational Exuberance" led us into the credit crunch and mortgage crisis as thousands upon thousands of irrational buyers set themselves up for foreclosure failure. Now for the good news: it will be the "Rational Exuberance" that will very slowly pull us out of this turbulent period of ‘the real estate cycle downturn.”

Buy low and Sell low should be your motto. For example: if you are holding on to a Las Vegas high-rise condo unit that you purchased in 2004 and closed in 2007 at $400 a foot, be prepared to hold on to your unit for three or four years to break even on the price point.

Did you want to hear that? Well, that's my opinion, I'm not stating any facts here. But it looks like we are in for some heavy turbulence with California throwing up thousands of more foreclosures in our laps. Add up your mortgage, insurance, HOA, and other fees and if it doesn’t pencil for you, then dump it. Don’t stress yourself out over a burden you can't afford as Suzy Orman would say.

The rational people waited for the downturn and are now picking up some crazy deals. In fact, I heard one Strip view/high-rise fully furnished over 1,700sf at Panorama went in the $500’s. If you are stressed and a buyer comes in offering you cash (plus paying everything at closing including HOA and Utilities) so that you never have to put out another dime and save your credit, my advice is well… live and learn. Perhaps look into safer investments in the future.

Learn from the rational buyers who purchase only on the downturn. Find a real estate agent who is savy and tough (and well respected). Here are guidelines that the Rational Exuberant follow:

When you request information from a knowlegable real estate agent, and the agent responds with that requested info, acknowledge the hard work - whether you are interested or not. REAL ESTATE AGENTS - THE GOOD ONES - WORK THEIR BUTTS OFF AND DESERVE RESPECT. Yes, I said "respect". Because I guarantee that during the rebound period, if you don’t treat your good, hard working Realtor with respect, you will most definitely miss the good deals. (Surprisingly, the good agents seem to know how to find them while the rest aimlessly search the MLS).

Remember, its NOT all about the deal and patients - relationship with a great agent is key. Do not get overly emotional or irrational. Follow the rules: get pre-approved, stay within your budget, and of course - be rational...

Does this statement best describe the High Rise Condo Resort Market on the Las Vegas Strip? Wait, there's Hope!

2008-08-01T11:41:00.000-07:00

"We have decided to delay construction of our project on the Las Vegas Strip due to the difficult environment surrounding today's capital markets and the challenging economic conditions that currently exist. We expect to resume construction when credit market conditions and the overall outlook for the economy improve."

This statement, heard today from Boyd Gaming regarding their much anticipated $4.8 billion dollar Echelon project, seems to be the mantra of the times regarding high end high rise condo/resort properties on the Strip. Take just about any development right now and it seems they've all released a statement similar to the above. (except of course, Project CityCenter which is amazing). The key part of that sentence, however, is "when credit market conditions and the economy improve" - and when will that be? No one knows.

But one thing's for sure, it'll NEVER happen in Vegas again, right? That's what all the mainstream media is telling you - the Las Vegas real estate market is done, over, finished, kaput, history, old-news, 86ed... Well this is Las Vegas: Wanna bet?

Now I don't have a crystal ball, and I can't tell you with any certainty when this whole mess will "officially" turnaround, but I do know this is a problem not just centered on the Las Vegas market. Things WILL get better. I really believe Vegas will be one of the first cities to recover - I just don't know when. But sit tight folks: it's going to happen (maybe even sooner than we think)

And believe it or not, despite the down market and our current recessionary times, there are certain investment vehicles you can put your money in right now that'll provide you with low risk double digit returns which make perfect alternatives to Las Vegas high rise condo investments or investing in the real estate - safer than banks, safer than bonds, and safer than ANY government-backed instrument! (thank goodness!).

Would you like to know what they are? (name and phone number please). Perhaps an excellent investment vehicle for you to ride out the next 18 months of recovery? And I promise you this isn't a scam, get rich quick, multi-level, or any other investment scheme nonsense...

The Foreclosure Flu Epidemic is Merciless to Celebrities and Regular Folk Alike

2008-07-23T11:12:00.000-07:00

Thanks to the uncertain nature of the real estate market, your everyday, average person seems to be having a lot more in common with celebrities than you'd imagine - and you can sum it up in one word: Foreclosure.

Celebrities after celebrities are making the news lately in a way you might not expect. Andre Agassi, Stephy Graff, Ed McMahan, Deepok Chopra, Pacman Jones … and the list goes on. Guess what folks? We're all in this mess together. It doesn’t matter if you’re a Wimbledon Champion or have a direct link to Gods ear - the Foreclosure Flu epidemic is merciless.

Respected and loved Las Vegas tennis gurus Andre Agassi and Graff's Idaho resort project, for instance, just "double faulted" as construction on his Tamarack project has basically stopped while the developers have filed for bankruptcy protection.

It's also rumored that Deepok Chopra lost his Maui shack in foreclosure. 50 Cents ‘lost’ his house to a ‘fire-sale’ type of foreclosure and national icon Ed McMahon's foreclosure problems keep mounting and mounting.

How about Latrell Sprewell, who once complained that his multi-million dollar salary wasn't enough to put food on the table for his family? He recently had his Milwaukee area home foreclosed after owing $320,284 - the home will be sold by the Sheriff's Department at auction next week. Not to mention his yacht has already been repossessed and he owes more than $70,000 to the IRS in back taxes.

Jose Canseco also had his multimillion dollar home foreclosed upon when he walked away from his $2.5 million, 7,300-square-foot home in suburban Encino because "it didn't make sense to continue making payments". Wow - something doesn't make sense to Jose Canseco!

Also, let's not forget how foreclosure is tackling Adam "Pacman" Jones, as he's defaulted on his mortgage with U.S. Bank where his home and 30 acres, located in a Nashville suburb will be sold June 27 on the steps of the County Courthouse. (let's hope he stays as far from the Las Vegas high rise condo market as possible).

Actor Michael Madsen needs $9.95 million fast to keep his luxury Malibu property, He's looking for an "expedient sale necessary" to most likely avoid losing the home to the bank.

And can we even begin to understand the mess Evander Holyfield has gotten himself into? His Atlanta estate is under foreclosure, he's defaulting on a number of loans already including a $10 million dollar bank loan as well as a $550,000 landscape loan, AND he's behind in child support payments.

Our Las Vegas foreclosures, both high rise condo and others, are about to grow as the thousands of short sales become foreclosures soon. But it's all not bad news.

I spent the day with Shari Sanderson, a Realtor® with Award Realty and was in shock (in a good way) with what I witnessed. While the majority of Realtors® are starving, she is actually "playing in the market".

The day I was with her, she opened two more escrows and wrote three offers - and the offers where so low-balled I thought…no way. Her client base is huge and her cell phone is literally off the hook as her assistants follow her around in an environment of ‘Show Me the Money’ high-energy excitement. One high-rise foreclosure that originally sold for around $700k she lowballed under $300k and it was accepted! I interviewed her throughout the day and asked her opinion about a few concerns:

What do you think of the foreclosure issue with Tamarack and Agassi?
First of all, ski resorts only come around, what…once every twenty years?! Last one I remember (and was involved with) was Telluride. It’s a luxury purchase - not a flip! I am a huge Agassi Family fan and was at the F/F opening. They are all heart and I am sure they are just as heartbroken over this as anyone who is experiencing the current economic shift. (She taps one of her assistants and says, “Get me a list of any distress sales in Tamarack.”)
What do you think of all of the celebrities hit by foreclosures?
No one is immune from what I am calling "the Foreclosure Flu". Most people will surely recover. We all need to help take care of one another and be supportive. A lot of people are angry and blame the media for the gloom and doom. I get extrememly irritated when I see reporters pull factoids from 2004 and throw it into the mix to sensationalize. BUT, the media has a responsibility to report the truth and we are in a gloom and doom position. Whether I walk into a 6,000 sf home selling for under $500k and the house is trashed or a small condo some baby boomer mortgaged their home for and lost both, I can feel the anger and frustration.

At the same time, I love finding deals. I am a personal shopper of Vegas real estate and this is LAST CALL VEGAS - and I am pulling aside all of the good deals for my clients. I get a kick out of finding my friends a property at $80 a foot. Friends and clients started calling me in February 2008 asking my opinion and I suggested them waiting until the end of summer. However, I started cherry-picking some great price points for them the past month because I just don’t want anyone to miss out.
What is your take on the economy rebounding?
Everything in life is cyclical - love, relationships, real estate. We all know what goes up, must come down. If you have patience and wait long enough, the cycle starts all over again. Most people choose to ignore the real estate cycle and the fact we are in an election year... partied hard with irrational exuberance… shopped till we dropped… etc. - now we have to suffer the consequences. This is the time to buy - anything! I just bought a new car and so did my daughter, from Bill Collins at Desert BMW. Luxury items are less expensive.
Where do you get all of these clients, your phone rings constantly?
It’s all referrals. (she smiles).

Happy News for Las Vegas High Rise Condos and Las Vegas Real Estate

2008-07-17T15:19:00.000-07:00

Has hell frozen over? ... Do pigs fly? ... Is today that day?

I only ask this because there's a website out there that's actually reporting good news about the real estate market! The central message of Happy Real Estate News is that there are a number of very positive real estate markets throughout the United States right now, and by focusing on some good news every once in a while, we may help speed up market recovery in other sections of the country.

Despite the constant doom and gloom stories I read every day from local and national news sources, I'm starting to see some significant movement in both the stabilization of prices and the level of investor interest, (and, are you sitting down?) even here in Las Vegas. That's right - Las Vegas real estate is really starting to move again.

And I realize you're reading this and saying to yourself, "great, another real estate agent telling me to buy real estate" ... and that's understandable. But when you read from the Las Vegas Review Journal, a source of CONSTANT real estate naysaying of all sources, that "new home sales appear to have reached the bottom of the current down cycle", perhaps it's time to finally start taking a serious look at some pretty sweet investment opportunities right here in this world-renowned town.

The nature of Las Vegas is this: during bad times, Vegas will always make the first recovery compared to the rest of the country. Could that cold day in hell be today?

Verge Las Vegas Mid-rise Condo Project Redesign Includes 52 More Units

2008-07-07T07:51:00.000-07:00

The $135 million dollar Verge mid-rise condo project in downtown Las Vegas just announced their plans to redesign the development, adding 52 more units to it's 318 unit repetoire. If it ever happens...

You never know what's happening with Verge. Rumors continue to fly that the project's dead, then it's back to life, then it's experiencing delays, then it's moving forward strong, then there's setbacks in the development process. You almost get the sense the project should get a seat at the World Series of Poker with the way they guard their cards.

I'll take them at their word that they wouldn't be spending the extra $2 million dollars it'll cost to redesign the project if they had no intention of following through to a completed project. And if they're really taking out more of the higher-end units for more affordable inventory, then it makes this project even more of a downtown Las Vegas bargain. We'll just have to wait another 3 months or so to find out.

And, the Las Vegas High Rise Condo Answer Is:

2008-07-02T17:37:00.000-07:00

As usual, many of you replied back and tried to guess the view regarding our latest contest.

What's amazing is the number of correct responses! It seems everyone knew the view in question was taken from atop the Streamline Tower in downtown Las Vegas, a project that's actually in the process of closing units. Seeing how this project is generating a lot of buzz recently, I thought I'd make you aware of some RSD's available right now in this building for anyone looking for high rise bargains in downtown Las Vegas.

Two listings that look extremely attractive to me are on a 1 bedroom and a 2 bedroom high rise condo unit. The prices on these units are actually about $60K LESS than the developer is offering new - so talk about a bargain. The 1 bedroom unit is on the 16th floor for $420K and the 2 bedroom is on the 11th for $600K. And if that's not enough, let me leave you with another view from atop the rooftop terrace at Streamline:

All I can say is look... breathe... imagine! Now contact me for more info on the deal.

Vegas Hot Sheet - Bank Owned Las Vegas High Rise Condo Units, Distressed Sales, and Deals

2008-07-01T16:49:00.000-07:00

Here's the latest "Real Steal Deals" (RSD) that we've found for those of you looking for that perfect Las Vegas high rise condo bargain: (use the navigation arrows at the bottom left portion of the screen to cycle through information for each property)

Metropolis high rise condo RSDs:

- 17th floor, 1783 square foot, 2 bedroom 2 bath for $585K
- 5th floor, 2377 square foot, 3 bedroom 2 bath for $585K
- 4th floor, 2252 square foot, 2 bedroom, 2 bath for $569K
- 5th floor, 877 square foot, 1 bedroom, 1 bath for $399K

Sky Las Vegas high rise condo RSD: 13th floor, 985 square foot, 1 bedroom, 1 bath for $399K

Manhattan Midrise condo RSDs:

- 1184 square foot, 2 bedroom, 2 bath units ranging from $206K to $239K
- 1086 square foot, 2 bedroom, 2 bath units ranging from $209K to $219K
- 1134 square foot, 2 bedroom, 2 bath units ranging from $224K to $244K

Park Avenue Las Vegas condo RSDs: Way too many to mention individually, but I'm sure you'll find something you like among the 19 choices we've selected for you.

Panorama high rise condo RSDs: 1 and 2 bedroom condo units ranging from 733 to 1212 square feet and starting from a ridiculous $319K with NOTHING priced higher than $450K.

Interested in getting more Vegas Hot Sheet high rise condo information? You can subscribe to our property alert service for free and automatically be informed when we find great deals on Las Vegas high rise condo resales, distressed sales, and REO bank owned property bargains. Please contact us if you're interested in any of the properties listed above and we'll get you started.

Publishing Company Says "No Go" to Las Vegas High Rise Condo Hotel Project Name

2008-06-21T12:48:00.000-07:00

Does the Cosmopolitan High Rise Condo project in Las Vegas need any more bad news? Of course not, its had its share of that already.

But according to the Las Vegas Review Journal, lawyers with nothing better to do have now decided that the name "Cosmopolitan" is a trademark infringement according to The Hearst Corp., publishers of the Cosmopolitan magazine. They claim the Cosmopolitan developers (whoever they are these days) are using the Cosmo name to enrich their product into deluding the public into thinking the high rise project is associated with the magazine. Perhaps the Hearst Corp hasn't been reading this blog or the Las Vegas Review Journal or the Las Vegas Sun or In Business Las Vegas or any other informational source that's been covering this project since 2004, or they would have known this high rise condo project was launched years ago with the Cosmopolitan name - you would think Hearst would have acted sooner on this. I guess their lawyers were too busy with other things until now.

In my opinion, I don't think the Hearst Corp. has anything to worry about because - as predicted when Bruce Eichner gave up control of the project - I still believe the project will be completed under a different name anyway.

On a side note, on a recent visit with a high rise condo client to the Blue Martini Lounge in Town Square, I noticed a number of people ordering "Cosmopolitans" from the bar. Good thing there were no lawyers present.

We've Done all the Las Vegas High Rise Condo Work - You Reap The Rewards

2008-06-16T14:45:00.000-07:00

Over the past few days, we've been searching the entire Las Vegas marketplace for what we consider "real steal deals" (RSD's) and we've uncovered the following:

Here's the latest bargain condo unit at Panorama high rise condos: 11th floor, 1 bedroom, den, 1 1/2 bath, 923 square foot unit at Panorama for $415,000. Get more information here

Or if you'd prefer a high rise condo unit at Sky Las Vegas, here's one on the 13th floor - It's a spacious 1 bedroom, 1 bath, 778 square foot "never been lived in" Las Vegas strip condo facing the new Fountainbleu Resort with great city and mountain views to the east for UNDER $300,000!!!! (yeah, I know - I couldn't believe that price either).

Granted, some people don't want the Las Vegas high rise condo lifestyle but still want bargains on Las Vegas real estate. For those, may we present our list of 40 properties UNDER $200,000 that you can pick up TODAY. It may take you a while to go through this list yourself (scrolling through the arrows on the bottom left), but I assure you it's well worth your time. Have a look, then contact us to discuss.

But let's not stop there. There are a number of interesting situations over at Spanish Trails that make for great deals right now. Those who are local to Vegas know how amazing the homes at Spanish Trails are. The first residence we found is bank-owned. The second is in "The Islands", which is extremely nice with a distressed owner willing to sell this golf course residence for $325,000. There's also a Gardens residence for about $299,000 (although not on the golf course), but that price is extremely low compared to prior sales.

We've also found some other unbelievable RSD's at a variety of Las Vegas high rise / non-high rise bargains like these:

I know that's a lot of homework we just gave you. But just like high school, if you don't do your homework, you're only cheating yourself. So click on those links, find out what you like best, then contact us and we'll get it done for you. If you're seriously looking for an RSD in Las Vegas, there has to be a deal in there for you.

WSOP Website Resource Finds Las Vegas Condos and Investments for World Series of Poker Players

2008-06-10T12:49:00.000-07:00

As most of you probably know, the World Series of Poker (WSOP) is currently being played from Thursday, May 29, 2008 to Monday, July 14, 2008 at the Rio Hotel & Casino in Las Vegas, Nevada. As most of you probably don't know, there are a few members of the Las Vegas Wealth Group in attendance at the event as well - some of whom are competing, while the top real estate members associated with the group are providing boutique-level real estate investment services specifically tailored to the tournament participants.

The group has channeled their very impressive resources into finding Las Vegas condos and Las Vegas high rise condos for some of the players at the wsop event and recently announced the publishing of their World Series of Poker real estate related website/blog called www.wsopcondos.com for players at the world series of poker.

It shouldn't surprise anyone that many WSOP poker players make repeated journeys to Las Vegas many times over the years. Poker players also have very unique requirements, both in terms of lifestyle and what they decide to call home. So why not buy a place of your own instead of paying exorbitant hotel room rates? And who better than the Las Vegas Wealth Group to consult with for the best Las Vegas condos and real estate investment opportunities for poker players? From luxury high rises, Las Vegas estate homes, to million dollar luxury residences, or even just a place to call home when you're in town, World Series of Poker players need to do something with their winnings, right?

Besides being a one-stop source for the best world series of poker Las Vegas real estate poker player, the WSOPcondos.com website features resources for poker players such as WSOP Rewards credit cards, WSOP news links, and world series of poker videos from YouTube. If you're a poker player participating in this year's World Series of Poker tournament, you owe it to yourself to visit the Las Vegas Wealth Group's WSOP website and contact them for all your Las Vegas real estate needs and beyond.

Investor Group Succeeds Again in $5.4 Million Dollar REO Package Funding

2008-06-09T15:47:00.000-07:00

Still don't know where to invest your money these days? Perhaps you should consider applying for membership in BPVWest's REO/preconstruction syndicate investor group. I've been an affiliate of the investor group for the past couple of months now and have seen them do some amazing things already - such as buying bulk REO foreclosures from a major bank for their investors at 25 cents on the dollar. TWICE!

Here's a link to the press release announcing the successful funding of their latest REO foreclosure deal. BPVWest provides turnkey type investments, so investors in the syndicate need not worry about all the hassles associated with real estate such as tenant issues, eviction, rent collection, repairs, marketing, etc.

This group is constantly looking for more REO and preconstruction investors to join, as "the group gets stronger with every good investor they bring on board". What I like about them is that investors who apply for membership basically get qualified, so it's not like the group takes everyone. And since all the investors are qualified for a certain level of investment, when a good deal comes along, the group is able to act quickly.

Banks love that. So do high rise and condo developers, at every stage of their development from preconstruction to unit closeout. Would you like to get more information on the group? Visit their website here.

16th Floor Las Vegas High Rise Condo Hotel RSD

2008-06-06T12:57:00.000-07:00

That's right - I have a "Real Steal Deal" (RSD) on a 16th floor, 1 bedroom, high rise condo hotel unit at the Platinum condotel which I just toured myself this morning. At the price-points that most of the condo hotels in Las Vegas are selling for, you'd be hard pressed as an investor to positive cash flow your unit out. However, there are some units at the Platinum that make me believe this is possible.

The unit I toured this morning is going for $319,000 which is an amazing price for a condo hotel in Vegas, especially on the 16th floor of the building (the 17th floor is the penthouse!) and as you can see from this video, the views you'll get are simply fabulous.

Remember, with a condo hotel, you can use your unit yourself and rent it out when you're not around with absolutely no restrictions. The Platinum already is in operation and I must say, I was very impressed with the building as a whole as well as the people staffing it. (plus I talked with a number of the guests who all were impressed with their stay).

All in all, the Platinum makes for a very interesting option for your Las Vegas high rise condo search. I'm pretty sure at the $319,000 pricepoint, this unit won't last long even in today's market, so if you're looking for a RSD, contact me today and let's get you in to see this unit for yourself!

Guess the High Rise Condo View, Part IV

2008-06-02T14:15:00.000-07:00

It's been a while, so let's play it again. Back by popular demand, It's called "Guess the View". Can anyone tell me the name of the Las Vegas high rise condo project where this rooftop picture was taken:

As a post-script to this photo, I have to tell you I just recently toured this high rise building and found it to be outstanding! In addition to having great views of the city (as you can tell), this project has just begun to close units to those who originally reserved units 2 years ago.

What makes this project different from the rest of the high rise condo projects in town? Well, for starters, the unit owners in this project actually WANT to close and are moving ahead with their contracts. Not many Las Vegas highrise projects can say that in today's market. Secondly, the units are spacious with realistic pricing, allowing you to stake your claim to affordable Las Vegas high rise living. Need I say more?

So go ahead.. guess the view. And if you want, contact me and I'll show you an absolute RSD (real steal deal) in this building (and perhaps others?)

Investors Purchase 2.5 Million Note Package for 25 Cents on the Dollar

2008-05-20T16:05:00.000-07:00

Remember my recent post regarding how you can buy REO Bank Foreclosures at significant discounts? The group is now looking for additional investors to take part of their next foreclosure package directly from a major bank - a $5.3 million dollar REO package at 25 cents on the dollar.

Read the press release here

As I indicated in the press release, I'm very excited about this new opportunity, especially in this down period of the real estate market. We've partnered with some great companies and I'm expecting great things - RIGHT NOW! C'mon.. don't just sit there - get involved...

Going, Going... Eichner's Gone (from the Cosmopolitan High Rise Condo Project in Las Vegas)

2008-05-16T10:30:00.000-07:00

According to an article written by Jennifer Forsyth and published in the May 9th edition of the Wall Street Journal, Cosmopolitan "developer" Ian Bruce Eicher and representatives of Deutsche Bank were in discussions that were expected to end with Eichner surrendering all involvement with the Las Vegas high rise condo development.

As many of you know, this wouldn't be the first time this happened to him - as he was forced to give up his empty tower in New York's Times Square sixteen years ago - and most incredibly, probably won't be the last. But you have to hand it to him - It seems Eichner contributes very little of his own money in his deals, so the failure of his projects don't hit him hard in the pocketbook.

Anyway, the article does a good job of chronicling the process and the current state of affairs with respect to the Cosmo project. The good news? According to the article, there's a developer out there who seems very interested in acquiring the project out of foreclosure. The bad news? That developer is Related Cos., who has failed more times to develop high rises in Las Vegas than Charlie Brown has at kicking that football.

Buy REO Bank Foreclosures at 25 cents on the dollar

2008-05-12T14:55:00.000-07:00

This just in: My investor group just got another REO package from a major bank consisting of $5.3 million dollars worth of foreclosed real estate properties which they are purchasing from the bank for 25 cents on the dollar. The group is looking for additional investors to take this package down which creates an amazing opportunity for those of you looking for an investment that makes sense today in these recessionary times.

Most of you are aware that we raised $2.5 million dollars from our investor base for the last bulk REO deal in just under 2 weeks, where the properties were likewise purchased at 25 cents on the dollar. This particular bank was so impressed by the urgency in which our group acted that they've come to us first for this $5.3 million dollar offering - and we have just 3 weeks to do it this time.

For those of you who missed out on the original deal, obviously time has run out and that successfully funded package is no longer available. However, our new deal will provide you with the redemption you'll need to purchase REO's at a fraction of the cost - in an environment where you couldn't possibly get anywhere close to these terms and pricing on your own.

So here's the obvious question: Why will the bank sell to our group at such a discount rather than go to individual investors? The answer is simple - the size of our group brings enormous creditibility to the table. But more importantly, we have a clearly defined EXIT STRATEGY that (like the bank) you're going to be amazed at when you hear it.

Want to invest in bulk REO properties at pennies on the dollar pricing without all the hassles of going to auctions, contacting banks, probate sales, estate sales, and all that other crap you see advertized by these "get rich quick" real estate scammers? Your window of opportunity is right now, so contact me right now for more details on how you can get involved with this package. First come, first serve ... as soon as this deal is funded, it is GONE! - and those on the sidelines will have lost out again.

Right now, it's not Hip to Be Sullivan Square - Las Vegas High Rise Condo Project Looks to be in Serious Trouble

2008-05-02T15:56:00.000-07:00

In this corner, Glen, Smith & Glen (GSG) Development, developers of the Sullivan Square high rise condo project in Las Vegas. In the opposing corner, Harcourt Developments, a private company from Dublin, Ireland, which is financing the mixed use project to the tune of $800 million. Let the lawsuit begin!

The winner? Who knows?... The loser?: Sullivan Square condo purchasers and the entire Las Vegas high rise condo market in general.

GSG's lawsuit against Harcourt alleges breach of contract for failurre to perform funding obligations. They allege Harcourt is trying to take control of the project and build it themselves without GSG's participation.

That's a bad sign. But what's even a worse sign is that two additional lawsuits and eight liens amounting to more than $2 million have also been filed against Sullivan Square with more than $2 million owed in back payments to consultants and vendors who already have gotten Sullivan Square out of the ground. Harcourt has sent a letter to subcontractors assuring them that Sullivan Square would start vertical construction in July and everybody would be paid, even though no contract has been signed.

Developers, developers, developers... (and political candidates). Who do we believe? I believe this news signals a death toll to this project, but perhaps July will come and vertical construction will start. I've always liked this project, both design-wise and price-wise, but I'm not holding my breath at this point. Besides, with great deals on Panorama, Sky Las Vegas, Trump, and many MANY other high rise condos in Las Vegas both on the strip and downtown, let's not lose any sleep over this...

Las Vegas High Rise Condo at Sky Las Vegas Will Not Last Now That Market's Bottomed Out

2008-04-28T13:38:00.000-07:00

Guess what folks? It looks like the Las Vegas Market finally hit rock bottom in the end of January, at least according to the April Economy in a Glance report and In Business Las Vegas. In fact, I just heard about how one real estate office in town wrote up seventeen offers during the weekend. Rumor also has it that Steve Wynn's $18M Crown Jewel estate home received a full price offer as did a The Falls in the Ridges estate at $17.5M.

Local economists are saying the cherry-picking is almost over. Yes there are thousands of foreclosures in Vegas, but word has it the banks are not giving anything more away because they realize the listings in the MLS are at an all time low compared to the past 12 months! Median home sales went UP higher than $10K - yes... HIGHER THAN $10,000!!! Gaming is up, rental rates are up and leasing is also up.

Quite frankly, I thought it would take a while longer to see these kinds of numbers, but it looks like the sun is shining again on Las Vegas real estate, the birds are singing and Vegas is going all in!

SO HERE IS A REAL STEAL DEAL... GET A SKY LAS VEGAS HIGH RISE CONDO ON THE 13TH FLOOR FOR $299,900.

If you missed out on the Panorama high rise condo unit we featured on this blog as an absolute steal, then you REALLY missed out now that Station Casinos have released their plans for the Viva Development which we highlighted a few days ago. That development is located just behind Panorama, which is obviously sitting pretty between CityCenter and Viva, smack in the middle of a five carat rock and a hot spot.

With this Sky Las Vegas real steal deal, you'll not only be a hop, skip, and a jump from the Fontainebleau, but you'll be in walking distance to Echelon Place Resort & Casino as well. 87 Acres of sheer shopping, dining, and entertainment bliss. On the site will be the Shangrii-La Hotel, Mondrian Hotel, Delano Hotel, a performing arts center, Echelon Hotel Suites Tower, 400,000 sf of shopping, 4,000 seat theater, three state-of-the-art spa facilities, renounded Chefs…

DOES THIS SOUND FAMILIAR? WHY AM I SHOUTING?!?! Because this is the same scenario I wrote about with several Panorama units we featured on this blog and our Las Vegas High Rise Condo resales website - and the Sky Las Vegas featured condo is in an even better position!

A 13th floor, Sky Las Vegas condo residence right on the strip for $299,900. Do you REALLY think you can do better than this? Of course not... so email us NOW if you'd like to snag this unit. (name and phone number please - very serious inquires only as this will definitely NOT LAST!)

Free Advice Regarding Las Vegas High Rise Condo Purchases

2008-04-25T14:52:00.000-07:00

We live in a litigious society where lawsuits can be found everywhere. If you have the wherewithall to even consider purchasing a high rise condo in Las Vegas or anywhere else for that matter, allow me to suggest you purchase the property in the form of a corporation or LLC. There are tremendous advantages of setting up your purchase in this manner, especially in Las Vegas which is very business-setup friendly with its minimal reporting and disclosure requirements amongst a whole list of great reasons for Nevada LLC formation.

I recommend you contact Tax Specialists, Ltd, not just for buying real estate in the form of a corporation or LLC, but even if you're thinking about starting your own business or whatever business venture you're considering. I have found their educational and "hand holding" approach will provide you with the guidance you'll need to make sure you're protected in today's crazy world.

You read stories constantly of people tripping on property and suing the owner. And can you imagine the can of worms you're opening up if you're purchasing a high rise condo with the intent of renting it out!? Every time I see a purchase contract with an individual's name on it, I cringe. Real estate today needs to be purchased in the name of a Corporation or LLC - period.

The bottom line is that owning property and/or doing business in the form of a corporation or LLC can help protect your personal assets from frivolous lawsuits and unscrupulous creditors. Don't be subject to creditor attacks on your real estate or business. Visit the Tax Specialists, Ltd. website today at www.taxlv.com for more information on how incorporation can work for you.

Dam the Economy! - Full High Rise Development Ahead!

2008-04-23T17:13:00.000-07:00

In a time when most developers are afraid to move forward with even the smallest project, Frank and Lorenzo Fertitta - perhaps the 2 most forward-thinking businessmen in Las Vegas - are actually accelerating their plans to build an high rise resort project in Las Vegas that'll be even larger than CityCenter!

So while most low-paid Review Journal and Las Vegas Sun writers, along with salaried 40-hours per week economic experts continue to write about how bad Las Vegas is, the BILLIONAIRE Fertitta brothers are betting big with plans to redevelop the 110-acre site of the Wild Wild West on Trop and the I-15 at a cost of $10 billion dollars.

Hmmm... who should we look to for an accurate read on the future of Las Vegas? I think building a 14-casino empire in 13 years should account for something. The Fertitta's understand Las Vegas will withstand the test of time. Deep down, I think we all believe that. Sometimes we just need the big boys to step up and remind us of that fact. Said Frank Fertitta:

"It's very hard to predict cycles in the short run and know what's going to happen in the next six months or the next year... we've always placed our bets in over a 5 to 10 year time horizon.. When you have a solid strategy and look at the supply-demand dynamics in the Las Vegas Valley, the fact is the population is going to continue to grow over the next 10 years and there are limited places to build ... Ours is really a strategic plan over the long run rather than trying to time the market in the short run".

Sound familiar? We've been saying that all along. Find that deal and act on it... And by the way, the Review Journal today reported that home sales in Las Vegas are finally starting to show signs of life.

Still No Progress on Verge Downtown Mid Rise Condo Project - But Is That Really Bad News?

2008-04-16T10:29:00.000-07:00

If you read Tony Illia's latest article published by the Las Vegas Business Press, you'll arrive at the conclusion that it doesn't look good for the Verge mid-rise mixed use project in Downtown Las Vegas. We've been following this condo development closely and with an original breakground date set for summer of 2007 with nothing ever happening, we believe their should be some doubt at this point as to whether this project will ever come to fruition.

Their next contractor will be their third, their sales and marketing representative filed for Chapter 11 bankruptcy in 2007, and the City of Las Vegas has confirmed that no construction permits have yet been issued. However, I spoke directly to Verge President Darren Dunckel recently who informed me that issues with the overhead power, cable, and telephone lines are the only obstacles standing in their way and he has every hope of seeing the project through. By the way - quite honestly - I barely know Darren Dunckel and I got through to him with one phone call!

Here's what I've discovered: With all of the turmoil in the sub-prime market, and many builders walking away from future projects in Las Vegas, the developers of Verge Living have been negotiating discounted construction costs, which at this point should seem to be an obvious strategy. Remember billionaires such as Nochi Dankner (IDB) and James Packer (Crown) have followed the same strategy as the Verge "delay", and not cancelling projects as the mainstream media reports otherwise. (Remember the report on the cancelling of the Plaza Las Vegas project which was totally untrue and reported without ever consulting the project developers!). The fact of the matter is that we are in a recession fueled by an unintelligent (and perhaps irresponsible) media whose livelihood depends on sensationalizing and harming the defenseless.

Many Verge buyers I've spoken to don't seem to even mind the delays and actually are relieved to "ride out the tight credit storm" and feel "the more time, the better."

So is this project a long shot at this point? We'll just have to wait and see. Downtown Las Vegas is just screaming for product and revitalization is well underway with a tremendous amount of movement and projects. You'd be wise to visit the Downtown Las Vegas Coalition website to understand how projects like Verge may still happen despite all the obstacles they're currently facing.

One Las Vegas Unit Owners - I Have A Buyer For Your Las Vegas High Rise Condo

2008-04-11T11:58:00.000-07:00

A client contacted me yesterday specifically regarding the One Las Vegas high rise condo project, where he wants to purchase a resale unit right now. Any One unit owners out there that want to sell? Problems closing? Please contact me ASAP and perhaps we can help you out very quickly.

Real Steals on Las Vegas High Rise Condos Are Out There - Wait for Them!

2008-04-09T14:51:00.001-07:00

Buyers for Las Vegas high rise condos are continuing to wait for the real estate market to drop and hit bottom - and you know what? They are right to do just that! This market still seems to be on a downward spiral and I'm encouraging buyers to now "sit tight" unless a REAL STEAL of a deal comes along.

How do you recognize a real steal of a deal? (RSD) Well... if a condo at the Panorama high rise project is listed at $300K, it's a real steal deal - especially since that's just the listed price (you'll probably be able to get it under that amount! Interested?).

Buying a high rise condo at a $100K discount that is already 12 to 24 months old is a REAL STEAL DEAL! Think about it: do you think the developers could build a high rise with the intention of selling each unit for $299K? Do you think the developers could even cover their construction costs by selling beautiful units such as these at those prices? NO WAY!

If you have champagne taste and can only afford beer, there are situations developing in this market that are perfect for you. Remember, despite what you read in the paper, there are still 40 cranes in the sky, there's million dollar construction going on, and 100,000 jobs are on their way. Continue to read this blog or subscribe to our deal service for the lastest RSD's we come across.

According to R.Keith Schwer of the Clark County Economic Research team:

"The difficulties of getting housing back on its feet will not come quickly. Indeed, it is possible that we may not experience much of a recession or depression, but the subsequent recovery may not be much either. The new Strip properties in 2009, however will likely be robust enough to push the local economy into the next expansion phase, regardless of the drag in 2008."

So if you're not getting a RSD, then just sit tight, wait it out, and don't buy anything unless the deal is a steal. Good times await!

Talk About A Killer Deal on a Las Vegas High Rise Condo

2008-04-02T15:54:00.000-07:00

Sorry for the lack of posts over the past few days, but we've just been swamped showing some of the latest deals we've uncovered on Las Vegas high rise condo buying opportunities. Here's the latest that'll probably go tomorrow:

A 1200 square foot, 2 bedroom 2 bath, 10th floor Panorama high rise condo unit with Strip views going for $525,000. (that's $433 per square foot!). Compare that to CityCenter prices - which is right across the street with a bridge connecting the two projects - where they're averaging about $1,200!

Tremendous unit (never been lived in), tremendous amenities, tremendous opportunity. Who wants it?

And if you haven't signed up for our free property alert service, don't wait any longer...

High Rise Condo Investment Portfolio Available for Institutional Investors, Large Investment Groups, or REITS

2008-03-21T17:00:00.000-07:00

My office has been made privy to an investment package consisting of 103 Las Vegas high rise condo units that are currently in foreclosure/short-sale status. The package includes lofts, 1 bedrooms, 2 bedrooms and penthouses in a variety of very high profile Las Vegas Strip high rises.

Today's total market value of this portfolio according to the bank is just under $65 million dollars and they are offering the entire package ideally to institutional investors, large investment groups, and REITS for $42 million, which translates into almost a 36% discount to market for a large portfolio of Las Vegas high rise condo units.

Obviously not for the small time investor... (we've got deals for you as well). But any takers? Please direct any questions or comments via email here. (name and phone number please)

"Investing in Las Vegas High Rise Condos Right Now is So Risky"

2008-03-18T10:40:00.000-07:00

How many times have I heard that one? Or its sister comment: "I'm waiting for the market to bottom out. It's way too risky right now". Perhaps those quotes are true. Maybe it's better to invest in more solid and safe investments than Las Vegas high rise condos... say, perhaps.... Bear Stearns?

Bear Stearns was always viewed upon as "as solid an investment you can get". Yet Bear Stearns, once the country's fifth-largest investment bank, agreed Sunday to be sold for just $2 a share, down 93% from its closing price Friday making millionaires out of billionaires and sending smaller-time investors to the poorhouse overnight. Can Merrill Lynch, Fidelity, etc. be far behind? How does Las Vegas real estate sound to you now?

Look... there's no question if the economy right now were a car, it would have its red flashers on. Where are you going to put your money these days? You can't invest in real estate... you definitely can't invest in the stock market... we all know cash is king but each and every day the dollar gets devalued so you can't keep your money in the bank... What's an investor to do?!?!?

If you're an accredited investor, I think I've found the answer for you. You need to follow this link and fill out the form and I'll send you info on a very unique and high-yielding investment you can get into today that'll perhaps solve all your investing worries. Not accredited? We have a high-yielding answer for you as well...

Remember the Failed Hard Rock Las Vegas High Rise Condo Project? Let the Lawsuits Begin!

2008-03-16T16:45:00.000-07:00

A group of real estate brokers have joined forces to sue former Hard Rock high rise condo developer Peter Morton for cancelling his $1 billion dollar condo project back in 2006. Alleging breach of contract and fraud, Coldwell Banker Premier Realty and two other California brokers are claiming Morton is required to pay millions of dollars worth of commissions for the almost 2000 reservations he claimed to have had when he sold his Hard Rock interests including approximately $800 million in sales reservations. The plaintiffs claim they had between 160 and 170 buyers for the high rise condo project.

Let's see... 3% on each of those sales (where unit prices started in the $400K and went into the high millions) amounts to some pretty hefty commissions. But whether they're entitled to those commissions obviously remains to be seen. Of course, both lawyers say they're "confident we will prevail in the case" and I have no idea as to how this will be resolved. My only question is: what took so long? Unfortunately, justice is not swift all the time and insiders say no trial date is set - we'll probably have to wait at least nine months before this case moves forward.

And by that time, we'll probably have a healthy Las Vegas high rise condo marketplace again so brokers no longer have to sue developers to make their money and developers don't have to cancel projects that may put them in the poor house.

Why Buy Las Vegas High Rise Condos Now? Here's Why...

2008-03-10T21:52:00.000-07:00

Dan Kadlec recently wrote an excellent article in last month's Time magazine urging real estate investors of one thing: IGNORE THE HEADLINES! And with the constant negative reporting surrounding all forms of media (after all, fear sells), ignoring headlines is very difficult to do. If you're sitting on the sidelines twittling your thumbs before making any real estate purchases, the question at this point really becomes, what are you waiting for?

Can you factor out all the negativity and see the amazing purchasing opportunities that others may be too scared to act upon? When prices are falling, few investors have the discipline to buy real estate - but history has proven time and time again that those who do excel in the long term. John D. Rockefeller once said "The way to make money is to buy when blood is running in the streets." And with constant talk of the "R" word, the streets certainly appear red these days. However, the Fed is currently cutting rates faster than a Nolan Ryan fastball, which usually is a positive indicator that a recovery is in sight (or maybe even happening right now).

Do you have cash right now and good credit? Do you have a long term investment plan and are waiting for the perfect time to pounce on a market poised for significant growth? If so, then do you realize how good you have it? Now's the time to act before the inevitable rise in interest rates erases the short window of buying power advantages available to you today. It won't be there if you wait for that untimeable "market bottom" (that perhaps has already happened - we just don't know). Listen to what Lending Tree chief economist Jim Svinth said:

"The thing that will make home prices stop falling is the very same thing that will push mortgage rates higher... Anything you gain by a further drop in prices might be offset by rising financing costs."

Translation: WHAT ARE YOU WAITING FOR? Why buy now? Here's why: financing costs will rise as the economy recovers, so trying to time real estate might not pay off. In fact, at this point, it certainly will not.

Risks always seem the highest when the media headlines are frightening. But that's exactly when it's time to act by adopting a long-term, steady, and diversified real estate acquisition strategy.

57th Floor Trump Las Vegas Studio for Just $650K? No Way!

2008-03-03T12:57:00.000-08:00

Yes, way!

Folks, here's perhaps the best deal you'll possibly find at Trump Las Vegas. I have access to a 57th floor Studio condo that you can now buy for a bargain basement price of just $650,000. Yes, that's the 57th floor. Yes, that's at Trump Tower. Yes, that is the best price you'll find anywhere. In fact, I have TWO of these 57th floor units available right now at that price - first come, first serve.

Now, I understand there are many of you would-be condo buyers waiting to see what may happen in the Las Vegas high rise condo resale market. But like previous posts regarding deals at Panorama, $650K for a 57th floor Trump unit WILL NOT be beat.

Try to offer $650K for a studio unit at the Trump salesoffice and watch them laugh you out of the building. This is YOUR chance at getting the last laugh on them instead.

BloggerView: Mary Williams - Sullivan Square

2008-03-02T16:02:00.000-08:00

Mary Williams, marketing manager over at GSG Development and the Sullivan Square high rise condo project in Southwest Las Vegas, was kind enough to recently answer our BloggerView questions. Here's how she responded:

Q: What is the current status of Sullivan Square?

We’re quickly moving forward on our first phase. With site excavation and utilities now complete, vertical construction will begin mid-march. Delivery of phase one is scheduled for December 2009.

Q: What are the unique features of Sullivan Square, and what sets it apart from other projects in town?

Sullivan Square is a true mixed-use development featuring 1,300 residential units across six living options. High-rise condominiums, traditional brownstones, Live Work spaces, Chicago-style lofts, mid-rise terraced condominiums, and townhomes. Our market street will be filled with locally owned shops and services designed to meet the daily and/or weekly needs of our residents. The community centerpiece is a 1.5 acre park featuring mature trees and crushed rock pathways. You can drive home for the weekend and never leave.

Q: Who is the target market for Sullivan Square? What attributes describes your typical buyer?

The target market for Sullivan Square varies… although the highest percentage of buyers is local we do have others from out of state primarily the Southern California area. They range anywhere from the family core to the single professional to the empty nester. The HHI target normally starts around $100,000. The most distinguishable attribute that would describe our buyers is that they love the metropolitan neighborhood feel of the project. Most of them have either lived in a city that has this type of neighborhood or have wanted to live in this type of neighborhood.

Q: What product is available at this point and at what prices?

We are now selling condominiums in Madison Tower I & II, brownstones and Live Work spaces with pricing from the low $300,000s to $1.8 million.

Q: How do you showcase your product to the public?

The Sullivan Square Sales Center is located at 8930 Spanish Ridge Avenue. Just two miles north of the site, on the corner of West Hacienda Avenue and the 215 Frontage Road. Our Sales Center features a community model, renderings, virtual tour and a furnished vignette of our high-rise condominium living option.

Q: Describe Sullivan Square in one sentence?

Sullivan Square is a 16.5 acre mixed-use development located in southwest Las Vegas in the heart of West Village; it is a city within a city.

Thanks so much Mary for answering our questions. If you're interested in getting more information on Sullivan Square, please contact Mary at 702.212.9400 or via email here. Tell her you read her BloggerView!

ATTN: Pinnacle Las Vegas Buyers - Las Vegas High Rise Condo Bargains Abound at Panorama Towers and Others

2008-02-29T11:44:00.000-08:00

On Wednesday, we scooped the news that the Pinnacle Las Vegas high rise condo project was closing its doors. That news hasn't hit the mainstream media yet. In fact, one of the developers of that project actually called us wondering how we got that information so quickly.

Yesterday's post centered upon the great number of Pinnacle buyers who will be receiving refunds of their unit deposits within 30 days and are on the verge of being cash heavy during a period of time right now where bargains await.

Take Panorama Towers as an example. The Panorama high rise condo project is in a most prestigious location as it is OVERLOOKING THE LAS VEGAS STRIP versus being right on the Strip and having a restricted view. The location is fabulous because of the access to drive or walk across the street to 500,000sf of CityCenter shopping, dining, shows, etc… without paying the 800sf to 2,500sf prices. The bargains below are up to a 40% discount to market right now!

8th Floor, 1 bedroom/1 bath, 733sf for $335,000 (Get Pool View/Sunset spectacular mountain views and city lights)
3rd Floor, 2 bedroom/2 ¾ bath, 1,555 sf for $399,900 (Shortsale opportunity with only a few days left. This residence, which has never been lived in, is not only a steal, it is a beautiful floorplan. The living room is extremely large with floor to ceiling windows and an extremely large balcony spreads the full length of the livingroom! Poolside is positioned so perfectly with the view of city lights and mountain sunsets.
11th Floor, 1 bedroom/1 den/1 bath, 940sf for $425,000. (STRIP VIEW and the den can be converted to sleeping quarters. A magnificent view of the LAS VEGAS STRIP and unbelievable view of MGM Mirage CityCenter; over the 5 pools! Remeber, the road from Panorama CONNECTS TO CITYCENTER and is supposed to have a sidewalk walking to their 1,000sf neighborhood.)
5th Floor, 2 bedroom/2 bath, 946sf for $425,000 (Poolside with gourmet kitchen)

And this is just at Panorama! There are tons of other great high rise condo deals we can connect you with as well. All you have to do is contact us (name and phone number please) and you'll be well on your way to a Las Vegas high rise lifestyle that others paid so much more to enjoy.

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

2008-02-28T12:16:00.001-08:00

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.

Another One Bites the Dust: Pinnacle Las Vegas High Rise Condo Project Shutting Down

2008-02-27T11:55:00.000-08:00

I have it on good notice that the Pinnacle Las Vegas is the latest high rise condo project here in Las Vegas that just won't be happening. Word on the street is that they've closed their doors and to look for an official notification in the upcoming days of the demise of this project.

Too bad. I really liked the originality of their design and thought they had the development team and background to see this project through. It shows you how hard it is to bring a high rise condo project to fruition these days in Las Vegas and makes all the other projects actually in development or ready for move-ins all the more impressive that they even got that far!

So what does that mean to those who've secured units in this project that will never get built? Well, truth be told, they're probably in an excellent situation right now. No doubt they'll get their earnest money deposits back - plus interest - which have been sitting around for quite some time now. (Many Pinnacle unit owners reserved units literally years ago!). Now, without the pressure of wondering when their high rise condo unit will be ready, Pinnacle buyers are now in the enviable position of having the pick of the litter of Las Vegas high rise condo bargains with money ready to make a move on high rise condo short sale positions and distressed sales.

Your $750,000 Pinnacle unit won't happen now. But thank the Pinnacle for the perfect timing. Based on the high rise marketplace right now, it's extremely possible that those very same Pinnacle buyers can take advantage of high rise resales and get into a high rise condo that'll blow the Pinnacle vision away AND cost way less AND be ready today! We've been accumulating these bargains at our Las Vegas high rise condo resales website and encourage all Pinnacle buyers who still desire that Las Vegas lifestyle to contact us immediately to take advantage of some amazing opportunities RIGHT NOW.

S-K-Y Spells Major Las Vegas High Rise Condo Deal

2008-02-22T14:42:00.000-08:00

How do you spell "DEAL"? Try "S-K-Y" as in the Sky Las Vegas high rise condo project. If you're looking for your "Pie in the Sky" this distressed sale situation ought to satisfy your appetite. Here are the quick details:

One bedroom unit on the 26th floor with a balcony and AMAZING STRIP VIEW for $418K. You read that right - unobstructed drop dead fabulous views with the ONLY Las Vegas Strip address with amenities to live for.

This is a major deal and will not last. The key words to remember regarding this opportunity are:

- 26th Floor
- Strip View
- Strip Address
- One Bedroom with balcony

Put it all together and it spells "DEAL" - do not wait. Contact us immediately on this one.

Narreia Weighs in on Las Vegas High Rise Condos and the Las Vegas Real Estate Marketplace

2008-02-20T10:42:00.000-08:00

As Sean Brown indicates in his latest Las Vegas market conditions report (updated today 2/20/08), there's no doubt the hottest topic in Las Vegas real estate today is the luxury high rise condo marketplace. We all know the numbers by now - 20,000 units approved and 50,000 proposed - and despite a warning NOT to buy a Las Vegas high rise condo with the intention of flipping the unit at closing for a quick profit, Mr. Brown still has some kind words to say about this significant market sector.

His report is an interesting read. You'll get a really good indication of Las Vegas market conditions from both a home buyer and real estate investor perspective. I know Sean personally and can tell you he's usually right on the money with the real estate analysis he and his company, the National Association of Residential Real Estate Investment Advisors (NARREIA), provide.

His final word on Las Vegas high rise condos? If you are looking for a primary residence, a vacation home, or a condotel, it's a great long term idea. So take advantage of this heavily maligned market and get a great bargain on a high rise condo today.

Register for our FREE Informational GO Zone Seminar - Zero Out Your Tax Bill

2008-02-15T15:56:00.000-08:00

How many Las Vegas high rises could you buy if you had the ability to never pay a dime in taxes in the next 20 years? Wouldn't it be nice to amend your last 5 years of tax returns and get the money you paid to the goverment back to use for real estate purchases?

Many of you already are familiar with the Federal GO Zone Act which was passed by Congress to help the affected counties in Alabama, Mississippi, and Louisiana rebuild after Hurricane Katrina devasted the area. Here's your invitation to learn how you can make the GO Zone work for you.

Local to Vegas? Please attend our FREE Informational GO Zone Seminar on Tuesday, February 19th, 2008 from 6:00 - 9:00pm located at Ruth's Chris Steakhouse (3900 Paradise Road, Las Vegas, NV 89109) View Map

Open Bar and hors d'oeuvres will be served.

Brokers and real estate agents are more than welcome. Bring your investors for generous referral fees!

Discover how the IRS has created the opportunity of a lifetime - ZERO federal tax this year, ALL federal taxes paid in the last five years collected back, the ability to ZERO out ALL federal taxes over the next TWENTY YEARS. Based on our venue for this event, SPACE IS LIMITED so please register now at the link below:

http://www.gozoneprojects.com/gozone/seminar.htm

In all my years of real estate experience, I have never seen anything as good as this program. Please visit the GO Zone Projects website to learn more or contact me with any questions or comments.

Read These Tax Myths With Respect to Your Las Vegas High Rise Condo Purchasing Decision

2008-02-15T12:36:00.000-08:00

Tax time will be here before we even know it, so I thought I'd share with you the "5 Home Ownership Tax Myths" courtesy of Kay Bell in today's Yahoo Finance. They are the following:

Mortgage interest will reduce my tax bill.
All costs related to my home are deductible.
I must use home profits to buy a new home
Putting my children on the deed is tax-smart.
If I take a loss on a sale, I can write it off.

Have a look at the article (it's really quite good), then note carefully myth number 6 that's not included in the article: There are no good Las Vegas high rise condo bargains to be had TODAY!... and don't forget to read the list of the Top 25 Business Books compiled by 800-CEO-READ and brought to you by the Las Vegas Wealth Group. The info contained in these books might provide the knowledge required to live the high rise life in Las Vegas.

Lawsuit Could Be Death-Blow to Las Vegas High Rise Condo Pinnacle Project

2008-02-10T14:06:00.000-08:00

It looks like Reason # 5 of our last year's Top 10 Reasons Why Your High Rise Won't Get Built post (inordinate amount of time passes without activity) has reared its ugly head in the form of the $740 million dollar Pinnacle Las Vegas high rise condo project. After more than 3 years of construction ground breaking inactivity, some buyers have had enough and have recently slapped the Pinnacle with a class action lawsuit (which also happens to be reason #9) for breach of contract and are demanding the return of deposit money plus damages and attorney's fees.

3 contractors in 3 years, plus the uncertainty in the overall national real estate market, coupled with Pinnacle's unknown present construction status along with a groundbreaking date that has changed repeatedly, all could signify the death of this once promising project.

According to the lawsuit documentation, The Pinnacle high rise condo purchase agreements contained addendums with developer benchmarks, such as breaking ground within a certain time frame and/or delivering 306 purchase pacts or the developer can be found in default. The lawsuit also adds an additional previously unheard environmental issue that the project site is contaminated with high benzene levels as a result of dropping ground water levels.

All in all, it doesn't look good for the future of the Pinnacle high rise condo project. The Las Vegas condo market is certainly facing challenges - but as we all know, obstacles are usually real estate opportunities in disguise. For now, let's focus on getting great deals and bargains from the Las Vegas high rise condos that have already been built with a number of units facing fallout from investors who would consider selling their units at unheard prices. Like this one >>

Get a Great Bargain on a Las Vegas High Rise Condo Short Sale

2008-02-08T14:08:00.000-08:00

As those who have already registered for our Featured Deal alert on www.VegasHighRiseResales.com already know, we have a situation developing right now that you have to take a look at if you're in the market for a great deal on a Las Vegas high rise condo.

Are you sitting down? In a nutshell, you can now own a 1,555 square foot pool side Panorama high rise condo that's going right now on a short sale for $399,900. Offers are being taken - one already is in at just a slightly higher offer price - and we believe a cash offer slightly over the asking amount will close this baby.

The short sale price at just $257 per square foot is BY FAR the lowest you'll see for high rise condos on or near the Strip. The Panarama high rise project is located within walking distance to the Strip across from the MGM Mirage Project CityCenter (which by the way is selling units for $800 to $2,500 per square foot). Talk about bargains! And remember, a walkway is being built from the Panaroma Towers directly to CityCenter (which will also have 500,000 sqft of dining, shopping, etc.) and a $750 million shipping/dining/district also opened south of the towers.

Unreal! Take a look and see it for yourself. Pay special attention to the original asking price shown from the previous link. Then contact us immediately as a unit such as this one definitely will not last!

World Market Center Continues Growing - Downtown Las Vegas High Rise Condos Take Note

2008-02-04T16:35:00.000-08:00

Once again, good news arrives regarding the World Market Center, downtown Las Vegas' jewel of the desert as the city of Las Vegas has officially approved a fourth building at the site of the 57-acre complex.

Construction on the 17-story "D" Building is scheduled to start late this year and be completed by the end of 2010. In addition to its 1.1 milion square foot West Coast venue for the gift, decorative lighting, and home textile industries, it will also connect the "C" building with the parking garage scheduled to open in the summer and bring the total project square footage to over 6 million square feet.

If you still don't think Downtown Las Vegas is a goldmine of potential, just ask Miami developer Gregg Covin about the area. Six months ago, Covin bought the downtown Las Vegas Gold Spike property for $15.6 million and just sold it to The Siegel Companies for $21 million. Not a bad profit for 6 months of work, huh? And don't think the buyer overpaid either - they're experienced developers who also believe in downtown Las Vegas revitalization. I predict they'll do quite well with their vision.

Potential condo purchasers better take note. Deals are going on right now which should signal to you that the downtown area is ripe for investing. The big guys are already doing it. The World Market Center is thriving. And the industry experts over at Preview Las Vegas are all saying the same thing: there's opportunity for those who go downtown.

Preview Las Vegas Event Suggests Long Term Positive Outlook for Las Vegas and High Rise Condos

2008-02-01T09:09:00.000-08:00

Yesterday morning, I attended the Preview Las Vegas 2008 event, which at this point, is a yearly "must attend" in order to get an idea of what's in store for the Las Vegas economy and the real estate industry. Did your real estate agent attend? If not, ask them why as surely anyone who takes the market here seriously should know it's the number one informational and networking opportunity Las Vegas has to offer.

Yesterday's event featured speakers Rossi Ralenkotter (President/CEO of the Las Vegas Convention and Visitors Authority), Jeremy Aguero (a principal of Applied Analysis), Guy Kawasaki (Managing Director of Garage Technologies Ventures), and finally keynote speaker Richard Lee (Vice President and Director of Public Relations from First American Title).

I thought Mr. Kawasaki's presentation on marketing innovation alone was worth the $80 price of admission, but there were a number of takeaway points that were also quite interesting from the event as a whole:

For almost 100 years now, the mainstream media have declared Las Vegas a "dud investment". Yet the city continues to consistently grow and prosper.
2007 obviously was a pretty bad year real estate wise, but there are signs that the end of the downturn may be near. We need to stick it out a little while longer as the high foreclosure rate is still a major concern.
Employment growth is the number one indicator to watch for year 2008. As more and more high rise condo projects come online, the more jobs will be created, fueling more people moving to the area, which inturn will help stabilize the housing market.
Record amounts of foreign investments continue to funnel into Las Vegas real estate and although many high rise projects have been canceled, many more will become reality in the upcoming years, both on the Strip, south of the Strip, off the strip, and downtown Las Vegas.
Create meaning in your business. There's so much noise and distractions in today's media and advertising. Do something remarkable or you'll just be invisible.

We try to approach real estate in that remarkable way via blogs, videos, special events, and reporting stories in an unbiased fashion. Once again, I'd like to thank all my readers for your support of this blog and for the many kind words I receive in bringing it to you. The Preview Las Vegas event really just echoed a mantra of mine that I've mentioned time and time again: Las Vegas is a great long-term play. We will certainly face more real estate challenges in 2008, just as we did in 2007, but for those who can weather out the storm, the real facts and numbers show good things in the future.