With MGM CITYCENTER's announcement this past Monday of a 30% price cut, to incentivize pre-construction buyers to close escrow, came the analogy by MGM/Mirage execs that this reduction would keep prices in line with those of TRUMP and Palms Place. To date, prices have held up quite well in both these hotel-condos. Today's MLS has a surprise. There are several SHORT SALES at TRUMP LAS VEGAS priced between $150k-$325k.
CLICK TO VIEW THESE TRUMP TOWER SHORT SALES
VIEW OTHER LISTINGS IN TRUMP CONDOS LAS VEGAS
Short sales are a long shot in today's market. Nevada is a state in which the bank can seek a deficiency judgment against the seller and many are not amenable to letting sellers walk from their obligations because their investments didn't go as planned. However, sometimes a bank does not want the inventory back on its books and the seller is willing to come to the table with part of the deficiency, and in a perfect world, the buyer gets a steal of a deal.
The TRUMP LAS VEGAS units listed in the link above, are short sales that previously sold for $600k to over a million. Cash only is acceptable on these units as there is no condo-hotel financing available. And the on site rental program is not a money maker for the owners by any means. But for those wanting a stunning pied-a-tierre in a great high rise condo right off the strip - where you can walk to just about everything - These condos become extremely attractive at this price point.
Looking for a great deal on a condo on & near the Vegas Strip? Use our Las Vegas Condo oriented websites as your reasearch tools:
www.LasVegasForeclosureWorld.com
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Amazing listings. I had not heard about these. What an interesting city Las Vega has become. Thanks for the info.
Interesting. Our Trump Tower Waikiki International in Waikiki, Honolulu, Hawaii will be completing construction and opening by November 1st. It will be very interesting to see what kind of resale activity we see there. This is a building where 450 sq ft studios are starting at $600k!