[poorjetfan]

I was always concerned that ST Residential would just dump their last couple of units so they could clean their slate, but as it turned out, their last couple of closings have shown a price appreciation---nothing huge but finally something positive---over the last 5-6 months, whenever any units do become available, their are offers on them within days---blockshopper has all the latest prices and even the closings with lower than expected prices were due to other conditions---things are looking up here

[Swigchow]

Originally Posted by poorjetfan

I was always concerned that ST Residential would just dump their last couple of units so they could clean their slate, but as it turned out, their last couple of closings have shown a price appreciation---nothing huge but finally something positive---over the last 5-6 months, whenever any units do become available, their are offers on them within days---blockshopper has all the latest prices and even the closings with lower than expected prices were due to other conditions---things are looking up here

What "other conditions?"

[poorjetfan]

the sales price on trustee and short sales wouldn't include unpaid HOA dues that have to be paid for the titles to be released---another example would be unpaid property taxes that have to be satisfied---so the sales price would actually be higher than what is listed

[olecapt]

Originally Posted by poorjetfan

the sales price on trustee and short sales wouldn't include unpaid HOA dues that have to be paid for the titles to be released---another example would be unpaid property taxes that have to be satisfied---so the sales price would actually be higher than what is listed

Trustee sales are a different breed. But shorts close like anything else. If they give you a title policy all should be covered.

[poorjetfan]

i do stand corrected on the majority of short sales, but there have been a couple of instances here where extra money was needed to close, which would have been on the closing title statement, but wasn't included in the sales price

[diskwiz]

Originally Posted by ocean2026

jono - I think most of vegas is still overpriced- if you check my posts on Current Market you will see I support my arguments with plenty of data. PMI the biggest mortgage insurer says there is a 99% chance LV will decline into 2011. Jobs are being lost- less people are coming - I could go on and on. All of those lofts - have plenty of unsold units- the price will continue to decline. Downtown is still somewhat of a hard sell.

Ocean, I was reading this forum, and Just wanted to give you the props you deserve by calling the downturn, I myself knew it too! we are the few smart ones. in any case, Im looking to buying a condo in vegas now that things are priced good, I just wanted to know your thoughts of which one you suggest, as I dont know the market in vegas, I have many condos in the bay area, so any help would be great,I see your active on the forum..
do you do any investing, I've been super successful in the bay area. I have over 95 units.. thanks again! I can be reached at [EMAIL="sfclubber@gmail.com"]sfclubber@gmail.com[/EMAIL]

[Swigchow]

The most recent data I received is that Newport Loft's closings for quarter ending 3/31/11 was $147/sf compared to $120/sf of the prior quarter (excluding penthouses). A bit of positive news.

[olecapt]

Originally Posted by Swigchow

The most recent data I received is that Newport Loft's closings for quarter ending 3/31/11 was $147/sf compared to $120/sf of the prior quarter (excluding penthouses). A bit of positive news.

Been flat at $120 per SF since February of 2010. Almost all of the sales lie between 95 and 140 except a couple of outliers just outside that range.

There may be a slight upturn over the last six months but the data is too limited to be sure it is real. There has not been a sale over $140 this year.

[Swigchow]

Originally Posted by olecapt

Been flat at $120 per SF since February of 2010. Almost all of the sales lie between 95 and 140 except a couple of outliers just outside that range.

There may be a slight upturn over the last six months but the data is too limited to be sure it is real. There has not been a sale over $140 this year.

Hmm, you don't think a realtor soliciting clients would send false information?

[stevendrft]

Hi, I am from NYC and I am thinking of relocating to Las Vegas. I know nothing about the real estate market there. I am looking at buildings like the Soho Lofts. Is this a good building? I plan on being a year round resident for years to come. Are the prices and fees reasonable and is the building in good fincial shape as compared to others in the area?