What's Hot and What's Not in Las Vegas High Rise Condo Real Estate? HOT>>>>>>>MGM Signature Hotel Condo Foreclosures at the right price. Whenever the price gets just right, which seems to be below $300k for a strip view high floor studio with balcony at the Signature at MGM Grand, the multiple offers keep coming in. Sometimes they sell above list, sometimes at list, and in a few rare cases, a tad below list.
These 520 sq. ft. fully furnished and appointed units must be purchased for CASH ONLY. No financing is available on hotel-condos in Vegas these days. Proof of funds need to accompany any offer before it can be submitted. But there is no lack of buyers - that is for sure.
What's not hot? Pre-construction condos. From the articles recently released by MGM/Mirage Corp., with a location as great as the Harmon had, 80 units were pre-sold out of about 200 units - not so hot. I would say the sales velocity has been poor, which is understandable given the current financial crisis.
Why are investors snapping up the MGM condos at the Signature? Folks seem to like the guard gated site. The 3 towers are set on a large lushly landscaped resort-style locale within walking distance of the Planet Hollywood & its shops, The CITYCENTER project and the Cosmopolitan, not to mention, the Bellaggio. Each Tower has its own pool, and Buyers have use of the MGM pool complex as well. There is a walkway to the MGM HOTEL, and a great gym, coffee shop and deli in the lobbies and an on-site rental program. With folks getting 1-3% return on their savings from Banks and money market funds, those who enjoy Vegas as a vacation spot find the possibility of easy nightly rental income an added benefit.
Have a peek at the photos below (courtesy & copyright by Lauren Stark, January 2009) &
CONTACT THE STARK TEAM 702 376-5220 for the latest foreclosure deals at the Signature at MGM Grand.
(FYI - This unit is SOLD - We wrote an offer on it for a client for $285k, and there was a higher offer.)
CLICK TO SEARCH ALL RESALES AT THE SIGNATURE AT MGM GRAND CONDOS
Views from TOWER 1 condo # 3617 - A foreclosure priced at $295k
The Tower is the background is the COSMO BEACH CLUB
Towers in the Distance at the right background are the Mandarin Hote & Aria at MGM CityCenter
Great Views of CITYCENTER - VEER TOWERS and to the Right - in the Distance you can see the cranes on the COSMO BEACH CLUB AND WEST TOWERS.
Studio Bathroom Above - Granite Counters - Double Sinks, Jetted Tub!
Fully Furnished!
Queen Size Sleeper Couch in the Living Area of the Studio
Desk Area with Cable Hook-Ups - Sliders to the Balcony
Wall Unit with TV, Micro, Mini Fridge & Stunning Cabinetry
