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June Stark-Las Vegas Condos High Rise Expert

Lake Las Vegas Underground Pipe Repair Work Begins

Good news for residents and future buyers at Lake Las Vegas Resortin Henderson NV. With the Lake Las Vegas Resort masterplan in bankruptcy, there was some doubt that much needed repairs would be done to the pipes underneath the lake. Without these repairs, the lake could have become an empty hole, and devastating to property values in the posh resort.

Concern about the bankuptcy, needed pipe repairs, and plentiful foreclosures on brand new condos at V, and other projects at the resort, have caused property values at Lake Las Vegasto suffer some of the most drastic declines of any Las Vegas & Henderson NV real estate.

Repair Work Has begun on the Underwater PIPING - Click to Read the News

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Las Vegas Real Estate Market Trends

Las Vegas real estate, even as the mortgage meltdown continues, has a few glimmers of positive news as reported by the Las vegas Review Journal's Hubble Smith. CLICK TO READ THE ARTICLE HERE

Although I feel that we are not out of the woods by any means, affordability is much better and there really are some very good values in luxury country club communities as Anthem Country Club and Red Rock Country Club. Second home buyers will find that they can purchase at a "roll back the clock to 2003-4 pre-boom price" and in a type of community that will never be built again in Las Vegas or Henderson due to water restrictions and lack of available land.

Interested in a great home or foreclosure deal at RED ROCK COUNTRY CLUB?

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Clicking on the SORT button from low to high will bring up the deals at the top of the list.

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Las Vegas Strip Real Estate News>>>>CityCenter's ARIA Resort to got Totally Hi-Tech

CityCenter Aria Hotel-Tower Top Off www.lasvegasCondoExperts.com 702 376-5220

As construction continues on MGM/CityCenter, seemingly on target for a December 2009 opening, MGM/Mirage's newest hotel, ARIA has been topped offand is looking good! Over the decades, Las Vegas has reinvented itself many times over, and one asks, how can Steve Wynn;s new Encore and the Turnberry Associates new Fontainebleau Hotel and Resort be outdone? MGM/MIRAGE has added a new level of technology to ARIA that promises to usher in a new wave level of technology that will offer a unique experience.

READ THE PRESS RELEASE

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Las Vegas Strip News>>>>St. Regis Hotel & Condos Construction Halted

The state of the economy is affecting the Las Vegas strip, in a manner that is much deeper and wider than I have seen in my 36 years in this city. The troubled Las Vegas Sands corporation has announced today that construction of the St. Regis will cease. The project sits in a great location, but launching luxury condosat a price of $1700 to $2000 psf was not such a great idea anyway. Sometimes you wonder if these planners have done any market research whatsoever prior to spending oodles of money on design and engineering plans.

CLICK TO READ TODAY'S NEWS

With prices plunging at existing high rises such as SKY LAS VEGAS and Panorama Towers and Metropolis, you can get an ultra luxury condo as low as 50 cents on the dollar in a few instances and a price per square ft of $200-$400.

There are 3 great repos deals at SKY LAS VEGAS priced from $280k to $609k, with the one at $609k being a 1776 sq. ft. unit with a 174 sq. ft. glass wrap around balcony offering strip views from the 9th floor location. This condo just hit the market this weekend and was originally sold at over a million dollars in the preconstruction stage. Located right on the strip, this is one of those foreclosures that is very appealing because it is in the building's prime stack.

For all your Las Vegas Strip Real Estate Needs

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Las Vegas Condo-Hotel News - Some Upset Cosmopolitan Buyers Want Deposits Refunded

The Las Vegas Review Journal has released an article detailing the plight of some Cosmo buyers who are upset with the delay in the project's completion. Click here to read the news.

So much has changed in the state of the economy, in people's lives, during the time of the build-out. All deposits have not earned interest while in escrow. Buyers knew that going in. Now that some want out, I think it would be great if the new management team instituted an assignment program, so the luxury condo-hotel units at The Cosmopolitan Resort would be tranferred into stronger hands prior to completion. Would this be feasible in today's market? I think so. The Cosmo is a trophy property in a slam dunk location. And the prices that many of the 1800+ buyers paid, are attractive with the rising commodity and land costs.

As for financing these units, that is the challenge. Hopefully, by 2010, credit will have loosened up and condo-hotel financing will be available. Or perhaps the Related Group will line up preferred lenders for the project. Let's hope the high rise developer comes up with a good closing end game for one of the most spectacular new venues to grace the Las Vegas skyline.

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