pacomartin
pacomartin
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April 22nd, 2012 at 10:44:44 AM permalink
I see high end homes in Vegas on the market for $2 million


$10.9 million


$14 million


Is the market for high end suburban homes recoverying? I assume that the multi-million dollar condos on the strip are still tanking.
EvenBob
EvenBob
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April 22nd, 2012 at 2:59:17 PM permalink
But are they selling? If you look up a lot of the Vegas
homes that are for sale, a lot of them have been on
the market for quite awhile.
"It's not enough to succeed, your friends must fail." Gore Vidal
Juyemura
Juyemura
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April 22nd, 2012 at 4:03:08 PM permalink
I agree. One should look at the sold listings, not what is currently available on the market.

However, I will also argue that the ultra high end market is fairly recession proof.
Lottery:  A tax on people who are bad at math.
pacomartin
pacomartin
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April 22nd, 2012 at 4:54:20 PM permalink
Quote: Juyemura

I agree. One should look at the sold listings, not what is currently available on the market.

However, I will also argue that the ultra high end market is fairly recession proof.




13K square foot home sold for $5,675,000
1717 Enclave Ct Las Vegas, NV 89134 , sold Oct 2009

Plus two others that sold from $4M to $5M.

But I was just wondering about the market as a whole, not some random properties.
EvenBob
EvenBob
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April 22nd, 2012 at 4:56:48 PM permalink
Quote: pacomartin

13K square foot home sold for $5,675,000
1717 Enclave Ct Las Vegas, NV 89134 , sold Oct 2009
.



That was 2009, lots of people were confident
the recession was over. I want to see what
they'd really sell for today.
"It's not enough to succeed, your friends must fail." Gore Vidal
Wizard
Administrator
Wizard
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April 22nd, 2012 at 5:30:23 PM permalink
Quote: EvenBob

That was 2009, lots of people were confident the recession was over.



Including me. Biggest mistake I ever made. The market went down about 20% since I bought in the summer of 09.
It's not whether you win or lose; it's whether or not you had a good bet.
EvenBob
EvenBob
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April 22nd, 2012 at 5:47:41 PM permalink
They were showing the rich old guy a huge
house on Duck Dynasty. He said it was too big.
All he needed was a place to eat, a place to
watch TV and a place to sleep. I know what
he means. My office is 10 by 10 and I spend
85% of my waking hours in here. Sometimes
less is more.
"It's not enough to succeed, your friends must fail." Gore Vidal
Juyemura
Juyemura
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April 22nd, 2012 at 6:18:52 PM permalink
I agree with EvenBob. I don't need a lot of space. However, for me location is important. I would rather live in a tiny house or condo unit next to the ocean then a mansion in a bad location.
Lottery:  A tax on people who are bad at math.
pacomartin
pacomartin
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April 22nd, 2012 at 6:41:14 PM permalink
Quote: EvenBob

That was 2009, lots of people were confident the recession was over. I want to see what they'd really sell for today.





Well, here is a monster size home whose price went up in a little over 4 years.

9940 Orient Express Ct, Las Vegas, NV 89145
Beds: 6 Baths: 5 Sqft: 9,303 Lot: 1.00 acres

09/06/2011 Sold $6,350,000
01/02/2007 Sold $5,900,000
Year built: 2005


But I must admit when you look at the listing history (it's back on the market again), I have to wonder if that sale was a sham. It may be possible that the bank foreclosed, but it shows up as a sale somehow.

03/10/2012 Listed for sale $6,600,000 $709 Prudential Americana Group
07/12/2011 Listed for sale $6,600,000 $709 Prudential Americana Group
07/12/2011 Listing removed $6,600,000 $709 Prudential Americana Group
04/01/2011 Price change $6,600,000 $709 Prudential Americana Group
01/21/2011 Listed for sale $7,100,000 $763 Prudential Americana Group
01/21/2011 Listing removed $7,100,000 $763 Prudential Real Estate
01/10/2011 Listed for sale $7,100,000 $763 Prudential Real Estate
01/09/2011 Listing removed $7,100,000 $763 Prudential Americana Group
08/14/2010 Listed for sale $7,100,000 $763 Prudential Americana Group
Ibeatyouraces
Ibeatyouraces
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April 22nd, 2012 at 8:44:11 PM permalink
deleted
DUHHIIIIIIIII HEARD THAT!

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