November 2013

Found 4 blog entries for November 2013.

We just listed this great condo at Allure Las Vegas.  Allure is located on West Sahara, just half a block West of the Strip.  The location is convenient to the Strip, the 15 Fwy and Downtown.  It will be even more desirable when the SLS Hotel and Casino opens in 2014 with all the trendy shops and restaurants only half a block away.  Not only will the owners of unit 507 be able to walk over for shopping and entertainment, they can watch it all come to life from their balcony.

This two bedroom, two bath condo features the largest balcony of the Strip facing units in the building.  Other features include granite counters and stainless appliances in the beautiful kitchen.  A bonus room that is currently used as a formal dining room.  This space would also

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One of the most common obstacles we encounter when buyers want to purchase a high rise condominium is the mortgage.  Over the years, we've had many would be buyers who couldn't buy a high rise simply because banks weren't financing them.  It has always been disappointing to buyers who have good credit and can afford the monthly payments to find out the bank won't make the loan on their favorite building.

When a lender considers offering a mortgage on a property they look at many issues.  Not just the buyer's credit.  Assuming the buyer can qualify for a mortgage, they move on to evaluate the property being purchased.  If the property being purchased is a condo, the lender will ask the HOA to complete a questionnaire.  Two items the questionnaire will

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In October, we lost our spot as the metro that leads the nation in appreciation.  As reported by Clear Capital, Detroit is now in the Number 1 spot.   We are still in 7th place on their list of "Highest Performing Metro Markets".  Clear Capital reports that our market had 3.6% appreciation for the quarter and 32.4% year over year.  We share their view that a healthy recovery includes a bit of "moderation".  That appears to be happening in our local market.  Prices are still appreciating but at a slower rate than over the past year.

And in other good news,  NAR shared this report- Trans Union found that delinquencies declined more than 1% this quarter.  While it's still higher than "normal" at 4.09%, that's a 23% improvement over a year ago.  They

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What's available?  Inventory of units for sale in the major high rise buildings has remained stable over the past month.  In last month's update, we had 389 options.  Today we have 391.  This only includes the units available in the MLS without accepted offers.  Of the current listings, only 15 of the available units are short sales.  Foreclosures account for only 11 of the current listings.  Distressed Sales only make up 6.6% of the current high rise market.

New and interesting for high rise - The most interesting development for high rise owners relates to Turnberry Place.  The Stirling Club was the crowning jewel of the Turnberry Place community until it closed last year.  It has become something of an eyesore as it sits there vacant and unused.

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