[SonOfHender]

What on earth is going on out in 89011?

Real Estate Auction Company & Auctioneers : Welcome to J . P . King : Lake Las Vegas Collection

Are these truly properties that will be auctioned off? They look pretty pristine and furnished... or is this some sales promotion?

So what is the future of LLV, gang?

[PinkString]

Most likely foreclosures. And very nice one's at that.

[olecapt]

Not foreclosures. Expensive cats and dogs that have been on the market for a while mostly. One is a new Christopher on the water.

A couple have very strange histories.

I would think they are not absolute auctions...and have high reserves. But it should be an interestng one.

[PinkString]

So why are they being auctioned off and not sold outright? I thought auctions were always bank owned. But then again, i am not a real estate professional so I guess a lot.

[altajoe]

I saw the JP King ads and was intrigued as well. But, since their website mentioned nothing about reserve, or even the deposit amount (which has historically been 10% of the anticipated winning bid) I didn't waste my time looking any further. Shame on JP King.

BTW, auctions do not have to be bank owned, it can just be another way to hype and sell.

[TonyD19]

I checked out the properties ( http://www.OwnLakeLasVegas.com/Auction ) and will attend if for no other reason than curiousity. Who knows...with 5 absolute auctions and supposed "low reserves" on the rest, there might be some good deals. But if you think anyone will get to pay 40% of current value without a ton of competition, think again.

I've had my eye on a few foreclosures out there already. So, if nothing sticks out during the auction, I've got a few back-ups. Some of them are priced better than what I think the auction properties will go for: ( http://www.OwnLakeLasVegas.com/Search/Foreclosure ).

[olecapt]

Originally Posted by TonyD19

I checked out the properties ( Lake Las Vegas Auction Information - Real Estate ) and will attend if for no other reason than curiousity. Who knows...with 5 absolute auctions and supposed "low reserves" on the rest, there might be some good deals. But if you think anyone will get to pay 40% of current value without a ton of competition, think again.

I've had my eye on a few foreclosures out there already. So, if nothing sticks out during the auction, I've got a few back-ups. Some of them are priced better than what I think the auction properties will go for: ( Lake Las Vegas Real Estate, New Homes, Town Homes, Condos & Foreclosures ).

Your kidding I hope...$315 PSF and $750 in Association fees? Pickup a nice 2000SF place somewhere convenient for that. Hell 2500SF in Club Aliante with pool and guard gate for the same per month.

You got to really love that Lake.

[altajoe]

Topping.

Anyone have any insight as to what actually happened at the auction?

[airics]

probably nothing... i was participating in the hudson marshall auction in vegas (have catalogs, bid on 1 house), so for kicks, i circled 15 homes to watch on the net at the assessors site.. auction was in august, you had 30 days to close, none of the houses i circled changed hands.

[altajoe]

0 for 15, OUCH!