The Hidden Gems in Las Vegas - The Vertical Market
MLS Statistics: 5/5/2014
Available = 503
shorts = 9
bank owned = 9
Traditional - 485 (hope my math is right)
Ranging from 75k - too "wait for it "12.9 million WOW!!!
Pending or Contingent: 91
Sold: last 90 days 159 units
High Rises are HOT!!!! some are as low at 50 cents to the dollar of the original price tag
What to look for:
Location Location Location: The better the location the higher the price. Whats in a location.
Some HIgh RIses are close to the strip and down town, others are around the Valley. Pick a location that is good for you. Also the location in the high rise is key... so ask where it is located.. just becuase a price is attractive doesnt mean you want a view of the back of a building or a rooftop of A/C units.
HOA's: Fee's are high on some of the high rises.. we have seen as high as 400 a month. Keep in mind the services can include valet, parking, grocery service, clubs, security and many many more amenities.
Rent capabilities: Some High Rises will also allow you to rent it out. They can offer the service or you can rent yourself. Keep in mind if you use their service there are additional fee's involved.
Parking is key - how many spaces do you get !!!!!
Amenties: as described below - what do you get for the price you pay!!! Concierge, gas, water, trash, sewer, recreation, management, guard, pool, cameras etc. are some of the items that are could be covered under your HOA.
and of course the most valuable question is "is a high rise for me". Call an agent who specializes in this market (yes we have specialists that just work high rises). They will do the research and the math - this will save you time and money).
Reasons to love them...Investors- good income potential and possible flips , People that want a vacation home , Busy executives , if you are looking for luxury, no maintenance, want to be part of a social network, and like the lifestyle of a resort...
Call the Brenkus Team Today to find out more about the great buys out there!!!
702-456-5959
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