Las Vegas Luxury Properties Link

This MASSIVE luxury home is currently on the market as a short sale.  This is a growing trend of luxury homes falling into foreclosure as owners struggle to keep their mortgages current.  Many people are making a "business decision" to short sell their home rather than keep an investment that is so upside down.  There are currently 72 properties over $700,000 in Las Vegas and Henderson that are short sales, and 27 properties that are luxury foreclosures.  Many of the properties that were selling for $900,000 have dropped drastically in price to $500,000.  If you are considering a second home or an "upgrade" to your current home, deals are a plenty! 

Let's take the above home for example.  It is nearly 9,000 sq ft...no typos there, 2 bedrooms (again no typo there either), 4 total baths, and sits on an acre of land.  The adjacent parcel of land must be purchased with this property because there are easements to get to the home on it.  That land is listed at $300,000.  The appeal in this home is for a car enthusiast with a 27 car garage to store all of your beautiful automotive treasures.  It's GIGANTIC!!  For a custom home of this caliber, you would expect to spend at least $250-$300 per sq/ft, but this home is priced at $168.  It's rare to find such a large home on an acre in Henderson for this price. Take a look at a few more pictures:

 Many sellers in an effort to be competitive with these short sales and foreclosures, are offering creative seller financing terms to help sell their homes.  All Inclusive Trust Deeds,  Seller Carryback's, and lease options are once again gaining momentum as Jumbo loans are harder and harder to obtain.  As of Aug. 30th, 2009 there are 159 luxury homes willing to look at creative financing options.  There are risks to these financing routes, but sometimes it can create a deal where there wouldn't be one before.  If you'd like to see the current value of your home, click here.

Below are a list of properties that are currently bank owned and on the market. If you have any question about these, please contact Felipe Crook at 1-866-589-1646.