WSJ zegt Miami 57 Maanden van Te verkopen Inventaris Condo heeft
Gepost tegen Bruce Hiatt - 7 November, 2007
Categorieën: Hoge Stijging Condos
Wall Street Journal vandaag zei dat de inventaris van Miami van beschikbare condos voor verkoop minstens 57 maanden is. Denk dat voor condos van de de luxe hoge stijging van Las Vegas waar is? Enkele media willen u zo denken. Sluit niet zelfs.
De luxe de hoge inventaris van stijgingscondo voor verkoop langs de eerste Strook en de dichtbijgelegen gebieden van de Strook van Las Vegas een fractie van de inventaris Miami is heeft. Bijvoorbeeld, overweeg de ultraluxe Hemel Las Vegas het woon hoge bezit van stijgingscondo. Slechts wordt de Hemel gevestigd op de Strook in het eerste gebied. Dat is correct, een totaal van 1 hoge stijgingstoren met een adres van de Strook.
Het totale aantal de luxecondos van de Hemel voor verkoop vanaf vandaag is gigantische 35. Zie. Dat is ongeveer drie weken van inventaris in een sterke markt en ongeveer 4 maanden van inventaris in een zachte markt. Klinkt niet als Miami aan me maar de media houden zeggend Miami en Las Vegas is gelijken. Zolang de media houden vervormend het beeld van de luxecondo van Las Vegas wordt toen 4 maanden op markt maanden en meer maanden. Niet zouden de media voor dergelijke schade aan de verkopers van de luxecondo van Las Vegas met dergelijke onjuiste rapportering betalen moeten moeten? Interessante vraag. Minstens CNBC gekregen het juist met hun recente uitzending over hoe sterk de markt van de luxecondo van Las Vegas werkelijk is.
U denkt door de één luxe hoge stijgingscondo op de Strook bestaand enkel te tonen dat ik een oneerlijke vergelijking schilder? OK, let’s go to the prime Strip area and expand it to include the adjacent Strip luxury condos for sale counts. First, let’s look at the massive over supply we have in existing hotel condos for sale.
For luxury non-restrictive stay hotel condos currently on the market, we have a total of 148 across 3 towers. That’s it folks and those numbers are decreasing each week. That particular condo hotel is the beautiful ultra luxury MGM Signature and there are 8 under contract today. Sales are increasing and supply is reducing because smart buyers are grabbing the deals while they can. For days on market in a normal market for hotel condos, this would be about 4 months of inventory and in this slow market it is about 9 months or less. However, if the media keep distorting the Las Vegas luxury condo picture then 9 months will become 12 or more months.
Next, let’s count the luxury the luxury high rise condos in the near-prime Las Vegas Strip area. We have a total of 212 on the market. We have the luxury high rise Turnberry Towers with a total of 83 on the market across 2 towers. Turnberry Place, with its famous Stirling Club, has 127 for sale across 4 towers with 3 under contract. Park Towers, a very high end luxury condo high rise, has a whopping total of 2 on the market. So, we have a grand total of 212 Las Vegas luxury high rise condos in the prime Strip area available for sale. In a normal market, that would be about 6 months of inventory and in this slow market it will be about 9 to 12 months. If the media keeps hammering the Las Vegas luxury high rise condo market, then the months on market will extend for some time. It isn’t a fair picture.
See, the facts are quite a shocker. The media just won’t tell you what is really going on except for CNBC’s honest reporting of our luxury condo market. The media rather focus on getting ratings and selling magazines and newspapers by promoting the doom and gloom. Each day when such inaccurate reporting takes place, it has to be one of the factors in taking money out of the luxury condo sellers pocket. Such damage is irresponsible and incomprehensible but the public is not crying out for accurate real estate reporting. They need to start shouting now.
Did I tell you that sales continue very strong for luxury condos at MGM MIRAGE’s CityCenter in Las Vegas? They are and record prices are being set. Wait until those Las Vegas luxury condos get delivered in 2010. Then, we shall see how well the existing luxury condos along the prime Strip area perform since their price per square foot is a bargain in comparision to new construction prices now.
No wonder the media don’t want you to know these facts. For sure they don’t you to know Strip land prices have increased 8 fold over the past three years and no softening in sight.
Want to know more about these limited supply luxury high rise condos and hotel condos for sale in Las Vegas? Call Bruce Hiatt at (702) 456-7080 x201 or Simon Chen (702) 456-7080 x202.
Copyright 2007, Luxury Realty Group, Inc. All Rights Reserved.
Bruce Hiatt, Broker, CRS can be reached at 702-456-7080 x201.
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