Buy Las Vegas New Condos – New Luxury Condominiums and Lofts for Sale
New condos, lofts and townhomes for sale in Las Vegas, Henderson and North Las Vegas, Nevada
Las Vegas new condominium, loft and townhome builders ran into serious trouble in 2006-2007 and some luxury condo or loft communities like One Las Vegas luxury condos or Newport Lofts went bankrupt and got foreclosed on while others had to drastically cut prices. Thus, the total number of new condo or loft communities, excluding high rise condos is less than 20 and some of these are left over from 2005-2006 when they stopped building or selling and have re-started now. A number of new condo or loft projects currently sell the same condos or lofts as re-sales and this is why new condominium or loft buyers should exercise due diligence in comparing prices with foreclosure condominiums or short sales in the same community.
It is very difficult to finance condominiums in Las Vegas due to FHA rules, however this problem doesn't exist for townhomes. New condominium or loft builders use this to their advantage by offering builder partner financing to sell their condos. New condominiums should be purchased from the builder if the builder can come close to resale pricing or when there are no available re-sales like high rise condos at City Center, Las Vegas.
The base price for regular Las Vegas new condos, lofts and townhomes are priced as low as $72-$120 dollars per square foot and Home Owner Association (HOA) fees for these new condos can run $60-$300 and are based on the amenities which often include community pools and playgrounds among other amenities. A few condo projects by DR Horton are built in the form of tri-plexes and offer an attached garage. As we wrote, better deals may be found in the form of re-sales, or foreclosures.
We won't see many new condo projects for a while, even though condo prices have actually gone up in the last year. Building condos from scratch doesn't pencil out so the excess inventory currently sold by new condominium builders is going to be it for a while.
We offer the following services to Las Vegas, Henderson and North Las Vegas new condominium buyers.