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For those looking for a real estate bargain, Las Vegas just might be the place to visit. Las Vegas has been ranked near the top of the list for the number of foreclosures per capita. Deciding to buy a condo in Las Vegas at auction can be a great way to save money in both price and expenses like closing costs. Just make sure that you thoroughly check the property before you decide to make a purchase.
Nevada has held its top spot for the fifth consecutive month when it comes to the number of homes involved in the foreclosure process. Nevada recorded one foreclosure filing for every 166 households, which is four times the national average. The state reported 5,235 foreclosure filings in May, a 40 percent increase over April and five times the number reported in May 2006. Overall Las Vegas ranked No. 4 in the nation behind three California cities: Stockton, Merced and Modesto.
Las Vegas Real Estate News Brief
- Harsch Investment Properties has just finished construction on the 523,000 square feet second phase of the Speedway Commerce Center. About 25% or 130,000 square feet has been pre-leased. The 28-acre second phase consists of 80 units in eight buildings of light industrial space. Tenants include Wicks Furniture and Nevada Power. The first phase completed in 1999 has 1.4 million square feet of which 98 percent is leased.
- One Queensridge Place is preparing for an August move-in for floors two through eight. The remaining residents of the two 18-story towers will move in by the end of the year. The luxury condo project at Rampart and Alta has 219 units and is 85 percent sold. The average size is 3,500 square feet and units range from $1.8 million $20 million.
- Stations Casinos President Lorenzo Fertitta has sold 1.4 acres of vacant land at 1702 Enclave Court for $2.3 million. The buyer was Enclave Properties.
- TWC Construction has been awarded a contract by Blackstone Capital Group for a new retail center. The $4.2 million project covers site improvements and shell structures. The center at 5105 S. F. Apache Road has four one-story wood framed buildings.
- Eve Mazzarella, a broker/owner of Distinctive Real Estate & Investments, has been recognized in Realtor Magazine's 30 Under 30 Realtors.
Las Vegas Real Estate - Additional Information
Thanks for your interest and if you have any questions or comments feel free to call or write us:
Phone: (702) 444-4321
Email: info@one-lasvegas.com
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