I wouldn't focus exclusively on bank owned properties. Though you can get a lot of great deals this way, you can save just as much by buying from a motivated seller or a developer trying to move unsold inventory. A good example of this is the Allure Tower by the corner of Sahara & Las Vegas Blvd on the north end of the Strip. This almost brand new hi-rise is now offering entry level units in the $100ks, They started at close to $300k.

Also, 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.

I was going to say, It's not always the bank owned properties that are the best deal. However in Las Vegas, Bank Repos ARE the norm.

Figure out first what is most important to you. I'm pretty sure the high-rise condos are not priced under $200K. The big kicker with these high rise condos are the HIGH HoA fees & property taxes. If you ever decide to rent your unit out part time, it'll be tough because of this factor & you'll be coming out of pocket quite a bit.

There are many condos to choose from very close to the strip, probably more in the price range you're looking in, with HOA fees closer to under $130 / mo., rather than closer to $600 per month.

There are many condos within walking distance to shopping & restaurants & only a very short drive to the Strip that are still in great areas. Do you need / want to be ON the strip or within a 5min. drive of it?

I strongly suggest you take advantage of struggling airlines & their cheap rates, take a trip out to Vegas & see where these high-rises are in comparison to other close by condos in great areas, look at the math & the numbers & see what's best for you.


Feel free to email if if you'd like more info.
My partner who is full time in Vegas can help you 'on the ground'

emilyknell@yahoo.com

There are a couple of projects downtown. I have a complete list of every loft project on my website if you would like to see what is out there. Newport lofts are very nice and the clubhouse on the roof has great views of the city (pics on my site). Did you consider Streamline Tower or Soho? Please let me know if there is anything I can do for you. Streamline Tower was just taken back by the bank. You can reach me at 702-493-8033 or through my site.

If you're not able to view the properties in person, I would suggest using google maps, street view to get a sense of the neighborhoods, shopping, and walking distances.

HOA and taxes vary depending on the unit. I was at Newport Lofts yesterday showing a 2 bedroom (2 bedroom/no walls) listed for $225k, HOA $530/month and taxes $6086/year. The client I was with said he liked the location because he could walk to Freemont Street or the Outlet Mall.

Sorry to hear about your experience with unresponsive agents. I can tell you that the high rise/condo/loft market requires a great deal of research and knowledge on the part of the agent. I can't speak for other agents, but I know I am able to devote a great deal more time and resources to buyers who have signed up as clients compared to responding to non-client inquiries.

Damon Botticelli
Realty One Group
(702) 523-7713

I will email full details on both of those properties and any other info you need about the Vegas market just e-mail your search needs to Chris@VegasChris.com Thanks!