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Archive for the ‘luxury foreclosures’ Category

This blog has MOVED. Please visit my new blog at

Http://www.LasVegasLuxuryPropertiesLink.com

Same great content, but new and easier to use. Thanks!

I’ve notice an increase in foreclosed properties in the Luxury market here in Las Vegas. Now when I say increase, I’m talking 12 additional properties. That is no where near the numbers for properties under $800,000 but there continues to be great opportunities for people to invest in luxury properties at a huge reduced price from 3 years ago. Let’s go over some statistics about our luxury market as of July 18th, 2008:

  • 1,357 homes are on the market over $800,000
  • 40 of these homes are in Short-Sale or pre-foreclosure.
  • 36 of these homes are Bank Owned properties
  • 934 of these homes were built in 2000 or newer

Please click on the following link to view Luxury Foreclosures in Las Vegas. Pay particular attention to the first property on the list. The address for this property is 1805 Plantea Ave. I’ve shown this property 5 or 6 times to separate clients. I think there is TREMENDOUS potential in this home. This is a bank owned home with 6,700 sq ft on half an acre. It’s in a small gated community with 8 custom homes. It’s currently listed at $829,000 which is $123 a sq/ft. For a custom home this is VERY well priced. Here’s what this property needs: A complete paint job, new carpets, new fixtures, a new kitchen and landscaping. I assume it’ll take a minimum of $100,000 to fix it up to luxury standards. The reason why I think this is an incredible deal is a similar home just sold in April of this year for $1,425,000!! Take a look at that home by clicking Sold Luxury Home in Vegas. This home needs someone with a little vision will to put in some work. If you’d like to take a look at this home, or any other home on the market, please contact me directly at 702-683-2169 or email me at Felipe@felipecrook.com

Happy House Hunting!

Felipe Crook

Prudential Americana Group Realtors

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This blog has MOVED. Please visit my new blog at

Http://www.LasVegasLuxuryPropertiesLink.com

Same great content, but new and easier to use. Thanks!

I just read an encouraging post from our corporate broker here at Prudential. 2008 Las Vegas Real Estate forecast. As he said in his post, a huge number of closings are bank owned properties right now, which makes sense since almost 45% of our listing inventory is either bank owned or short sales. I’m currently seeing a huge amount of movement with foreclosures because they tend to be the best priced properties in the market. Traditional sellers are having a hard time competing. The good news is our sales from June of 2008 are WAY up from last year and close to 2006 sales volumes. Take a look at this graph:

The Las Vegas Real Estate Market

The Las Vegas Real Estate Market

Certain price ranges and areas are getting multiple offers because they are priced so low. This has been a strategy with the banks regarding their properties. They price properties so low that it creates an un-official auction which then drives up the price. I called a listing agent for a foreclosure and she told me she had 15 offers in on one property that had been on the market a week! There are some wonderful opportunities right now. If you’d like more information on foreclosures, please contact Felipe Crook at 702-683-2169.

Felipe Crook

Prudential Americana Group Realtors

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Vegas Skyline

I’ve been telling my clients who are interested in purchasing, that THIS is the best time to invest in your home because of the downturn in the market. That statement couldn’t be more true for Canadians. Our credit crisis hasn’t affected Canada as severely because their sub-prime mortgage guidelines helped avoid what’s currently happening in the USA. Our lending practices were SO loose and unregulated, that people who didn’t have the income to make payments on a property were buying homes. You’ve heard this hundreds of times in the media already, and you probably already know how many foreclosures we have in Las Vegas ( if you don’t it’s about 40% of our current inventory), but these down turns in Canadian Find Las Vegas Foreclosures Appealingthe market are what true investors are seeking. Canadian buyers not only have the luxury of investing in a down market, they get the benefit of a stronger Canadian Dollar working to their advantage. So not only can they get a great deal on a property for the Las Vegas market, Canadians get an added discount of a our weak economy. I try very hard to stay positive about life because if I didn’t this market would eat me alive. Because I am able to see the potential good in every situation, I am able to help people invest their money with great opportunities. I currently work with a mortgage broker who specializes in working with Foreign National Investors to finance properties. For those Canadians not interested in paying cash for a property, there are loans out there that require a 35% down payment.  If you’d like more information on this loan program, please call Felipe Crook toll free at 866-589-1646.   Also, I work with a currency exchange company called MoneyCorp which is an international company offering the best currency exchange rates.  They can have funds within 24 hours at rates that rival major banks.

If you’re looking for a second home to escape the brutal winters of Canada, contact me, Felipe Crook, to discuss your investment options for Las Vegas.  There are MANY wonderfully priced homes available for your perfect paradise away from home.

Happy House Hunting!

Luxury Foreclosure SpecialistFelipe Crook

Fine Homes International Specialist

Prudential Americana Group Realtors

Las Vegas Nevada

Toll Free 866-589-1646

Email: felipe@felipecrook.com

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I recently took some clients to some luxury foreclosures around Las Vegas. I was impressed at some of these homes, and I’m sure there will be a few more coming into the market. I consider the luxury home market to be anywhere above $800,000 and there are currently 29 BANK OWNED properties in Las Vegas with this criteria.  Click HERE to view the Current Luxury Foreclosures on the market. I’ve taken a look a many of them and there are some GREAT properties ready for a hungry buyer. Some of the areas of these foreclosures include: Mcdonald Ranch, Anthem Country Club, Red Rock Country Club, Canyon Gate, and smaller custom neighborhoods through out Las Vegas.
One area that particularly is interesting is the Mcdonald Highlands area. This is in the Mcdonald Ranch Master Plan at the foothills of the McCollough Mountain Range in the South East Part of Las Vegas. Actually, it’s in the city of Henderson. This community is a 1200 acre parcel with custom lots available for construction. The views from this part of town are absolutely stunning! Take a look at the picture I took from the balcony of a custom home in Mcdonald Highlands.
Mcdonal highlands in Henderson Nevada

The Strip views at night time are incredible. Not only are the views to die for, the quality of homes available are equally impressive. Take a look at some of the attention to details in some of these homes:

Mcdonald Highlands Custom Kitchen

This is a custom kitchen in a home currently for sale in Mcdonald Highlands. As you can see the quality of design and construction makes owning a custom home in this community worth while. Click on the picture to see it larger

Mcdonald Highlands Custom HomesThis staircase really caught my eye when I went on the custom home tour of Mcdonald Highlands. The lighting, the design, the beautiful curve of the staircase command a presense in the home. It’s is a wonderful focal point of the room. Click on the picture to see a larger version of this incredible architecture.

Mcdonal Highlands Custom Home On the MarketI’d never seen a fireplace quite like this before. It was at least 10 feet long with one of my favorite fire place features: FIRE ON ICE. This is basically broken glass made to withstand high temperatures. The looks is quite stunning.

As you can see, the quality and luxury of these homes can not be denied.  If you would like to see any of these properties, please contact Felipe Crook at 702-683-2169 or email me at felipe@felipecrook.com  There is currently 1 custom home in Mcdonald Highlands that is a foreclosure.   Call for more information.

Felipe Crook

Fine Homes International Specialist

Prudential Americana Group Realtors

Toll Free: 866-589-1646

Email: Felipe@felipecrook.com

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