[LCY]

Can anyone tell me how is "Regency Tower" compare with all the new high rise condo came out in recent years? I am interested to purchase a unit if the price is affordable. How is the quality of the building and what kind of residents are living in that building? I mean vacation home or primary homeowners?

What are the pros and cons of the building? Any advise or comment are greatly appreciated. Thank you.

[jhiker1o]

Nice view of the Strip on many of the units, it is an older building so it will be dated. I've been in one of the units in the past and it is definitely dated with floor to ceiling mirrors all over. Las Vegas Country Club is nice but once you leave the premises of the country club, the surrounding area is the complete opposite. Not putting down the surrounding area but rather telling it like it is. HOA's could be higher at the country club. Aside from the condo tower, there are detached homes and townhomes in the area as well. Goodluck!

[LCY]

Thank you! I understand your points. HOA is a big factor when you want to look into those highrise condo. Perhaps single family around summerline area will be a better choice for us.

lcy

[olecapt]

Originally Posted by LCY

Thank you! I understand your points. HOA is a big factor when you want to look into those highrise condo. Perhaps single family around summerline area will be a better choice for us.

lcy

There are exquisite units in the tower. There are even better single families.

There are also awful examples of both.

I consider it one of the two great areas for those who need convenient access to the strip. Maybe the best for those who don't live in Las Vegas.

The other is the area around Racho/Alta Charleston. But that is much more sensible if you live here.

[007 license to sell]

Originally Posted by LCY

Can anyone tell me how is "Regency Tower" compare with all the new high rise condo came out in recent years? I am interested to purchase a unit if the price is affordable. How is the quality of the building and what kind of residents are living in that building? I mean vacation home or primary homeowners?

What are the pros and cons of the building? Any advise or comment are greatly appreciated. Thank you.

The hoa's are very high in the Regency as in most highrise properties, the best deals for highrises currently are at Allure they have brand new units in there starting at $150,000 their hoa is only 54 cents a foot which is incredible for a highrise property. If you are looking for the best lock and leave vacation home is a highrise property. Like Allure there is a 24 hr guard gate, plus 24 hr valet, 24 hr security at the front desk and there is all the amenities as well. people can't just wonder in and out as will or like in a sfh area drive around in the area to check out homes.


Anyone visiting a highrise property has to have permission at the gate before they come visit. If they don't the gaurd at the gate will call the home owner to get permission to let the visitor in. If the highrise property doesn't have a guard gate they visitor still has to go throught the security at the front desk to get permission to come up to your residence.

> HOA .54 a sqft
> 1 Parking spot deeded per unit
> 24 hr valet and additional parking available
> 24 hr gym/pool(heated during cooler months), hot tub, theatre room,
> conference room, computer room, wi-fi,24 hr valet

> *All utilities are included in the HOA fees with exception of Electric. 79
> channels of satellite television incl HBO and Showtime

As far as owning a sfh as a vacation home there is allot more up keep such as a yard and it isn't as easy to lock and leave as a highrise property.

[olecapt]

Given its inferior location it is priced correctly.

Nice property but I would think inferior to the LVCC in general.

Only great thing is the 5% commission.

[007 license to sell]

The Regency was built in 1978 before building codes became stricter, due to the high foreclosure in the Regency has caused the hoa's to sky rocket as some other properties. The building need some major work , I showed some foreclosures in there and they had the air blowers trying to dry out the place. Some of the empty units we looked at had water stains on the ceilings amongst other things.

Panorama north has lowered their prices on some of their units,you can find some in there now for mid $200,000 they have the lowest HOA 42 cent a foot. Other than One Las Vegas.
HOA fee and what it includes:

Hoa fee is much lower at appx 0.42 cents per sq ft per month. That includes water, trash, direct TV (basic package), high speed internet, 24 hour concierge, security, valet, large gym over looking the pool, long lap pool with cabanas, surround sound and towel service in the spa, indoor Jacuzzi, his and hers spa with steam rooms, use of massage rooms, conference room and starbucks brewed coffee and tea every morning until 11am in the lobby for residents and their guests.
They are not currently guard gated but have a security front desk.

If you look at all the highrise properties there is going to be something wrong just like all the sfh that look alike. A buyer has to find what fits their life style and pocket book and what area and go with it.

[olecapt]

Originally Posted by 007 license to sell

The Regency was built in 1978 before building codes became stricter, due to the high foreclosure in the Regency has caused the hoa's to sky rocket as some other properties. The building need some major work , I showed some foreclosures in there and they had the air blowers trying to dry out the place. Some of the empty units we looked at had water stains on the ceilings amongst other things.

Panorama north has lowered their prices on some of their units,you can find some in there now for mid $200,000 they have the lowest HOA 42 cent a foot. Other than One Las Vegas.
HOA fee and what it includes:

Hoa fee is much lower at appx 0.42 cents per sq ft per month. That includes water, trash, direct TV (basic package), high speed internet, 24 hour concierge, security, valet, large gym over looking the pool, long lap pool with cabanas, surround sound and towel service in the spa, indoor Jacuzzi, his and hers spa with steam rooms, use of massage rooms, conference room and starbucks brewed coffee and tea every morning until 11am in the lobby for residents and their guests.
They are not currently guard gated but have a security front desk.

If you look at all the highrise properties there is going to be something wrong just like all the sfh that look alike. A buyer has to find what fits their life style and pocket book and what area and go with it.

Comeon. Regency HOA has gone up 25% in the last 9 years.

Panorama North numbers are not believeable...you still have a developer involved...they jump 50% two years after the developer is done.

Regency is an older building and you might well have to rebuild your unit. The building is dated and has some undesirable features.

It still has exceptional strip views and convenience to the strip while being quite safe...you can walk the quiet local streets at any hour.

It is an ideal Las Vegas location if you don't desire to live in the middle of the party...it is close but nicely removed when you wish to be.

[007 license to sell]

Panorama north no longer has the developer involved hasn't for the last two years, the developer went bankrupt and the bank sold the asset to an investment bank that now owns the property. The HOA is solid it is has plenty in the reserves in fact it's monthly hoa's are figured as if it were full. So when the building is sold out the Hoa's should either stay the same or could go down without any unforeseeable disaster. The building was a victim of the 2007 mortgage melt down the building was technically sold out and should have closed on all the units, however when the mortgage melt down hit, buyers couldn't close due to the types of loans they were getting.
When that happened the developer let Panorama North go back to the bank. It is the most stable of all three buildings due to the fact that there isn't the investors like the previous buildings had which the other two buildings suffered a ton of foreclosures and short sales. The Same is true for Allure except the developer still owns the property and is about to pay off their construction loan in 25 days, only a handful of units closed in that building as well, so the remaining unsold units were re-priced and the hoa didn't suffer due to a ton of foreclosures or short sales that didn't pay their hoa fee's causing everyone else's to go up.
If fact Panorama North is in the process of changing it's name so buyers won't think it is part of Panorama 1 and 2 and the previous developer.
All the hirise properties have had their share of problems some more than others, a buyer needs to know all the pros and cons of all the buildings but the best deals for highrise properties are Allure due to it's low HOA fees and it's close proximity to the strip, access to the monorail and dble decker bus's. It is at the north end of the strip which currently has unfinished casino's but when the strip comes back it will head that direction for building due to the southend where CityCenter is heavily saturated.
Panorama is the next best buy for highrise's due to it's great location to the strip you can literally walk over to CityCenter in 5 minutes and the strip in 7 minutes by taking the new Harmon Bridge. The other reason like Allure is it's low HOA fees.
I show all the highrise properties and let my clients pick the ones that best suit them, but right now the best deals are in those two hirise properties just for the reason's I point out.

[LCY]

excellent comments which give us clear understanding what is the best choice if we wish to have a place in Vegas yet not full time.