Las Vegas High Rise Foreclosures
Is the Las Vegas High Rise and luxury condo market going to become another victim of the Las Vegas foreclosure fallout. Vegas realtors Bob Ratliff with The Ratliff Group discuss the possible upcoming crisis in the Las Vegas high rise and luxury condo market. Signs of Vertical Vegas becoming flat are starting to become more evident every day. The high home owner association fees were not an issue when these units were originally purchased because most buyers were looking to stay in for the short term and flip the unit. When the units were not flipping and the units became too expensive to maintain the first thing the owners stop paying was their home owner association. Some home owners associations are on the verge of being broke. Many units ranged from five hundred thousand to several million dollars.The results are disasterous and a crisis is looming,amenities are being drastically cut from security to landscaping.
