Would you be interested HOA-free, three or four bedroon homes with a pool on over 5000 s.f. of land by the Strip for $130k to $200k. I personally own four homes in this area and I recently wrote a blog post about this unique neighborhood titled: Old’ Las Vegas: The Only Homes Actually on the World Famous Strip! Here's a link.

http://www.trulia.com/blog/AJonesREALTOR/2009/07/old_las_veg…

Good luck and please feel free to contact me if you'd like more information on Las Vegas Strip condos & homes. Live the Life.

Hi Rick,
I just closed with clients from Canada on a condo conversion. It's a fantastic property. Like most condo in the Valley there will be some kind of litigation going on. When you have that many people living in a common area it's bound to happen. Most every condo has some kind of litigation happening. It's happening in the all the high rises on the strip.

My clients are happy as can be. Minuses are there we're not built to be condos so the sound barrier between units are sometimes thin. It just depends on where you buy..

I hope this help out with your question. Enjoy, Penny

Dave is talking about construction defect litigation. Yes, there are some communities that have pending litigation, but that's not just confined to conversions. "New" communities may also have the same thing. Some of these suits have been going on for years, all the while residents have been living in the community. On the plus side, condo conversions tend to be located more centrally located in town and have been fully remodeled with upgraded amenities, appliances, etc. I've had several clients that have purchased condos in conversion communities over the last several years and am familiar with the majority of the conversion communities in town. Below is a link to some of the popular Las Vegas condo communities. If you would like some recommendations, please feel free to contact me.

Rick,
Condo conversions can be very risky due to the fact the units may not have been built to condo standards with walls and other construction codes. Also you never know the real history of the property prior to conversion. There is enough inventory to choose from that I would not look at conversions.
Thanks,
Dave Grant