$5 Million dollar Bank Repo Sells in Las Vegas!

It really was no secret for anybody that understands the very nature of supply and demand that real estate speculators caused the artificial appreciation rates that Las Vegas saw in 2004 with 52% appreciation rates. The fall out this year has not been very pretty and the media certainly is not helping out but as seen from the article above, the media also helped fuel the very problem of real estate speculation to begin with.

From doing some research and looking at Bank repos in Las Vegas for the past several months and tracking the numbers, I came across a bank repo in Las Vegas (The Ridges in Summerlin) that was listed for $5,780,000. I was telling somebody else about it since the community location is absolutely phenomenal and when I went to pull it up to send over to them to look at, it was Sold!  (It was on the market for 39 days.)

So, despite all of the gloom and doom you may be seeing in the media, there is some positive Las Vegas real estate news out there -- you just need to know where to look.

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