I'd like to buy a 2/3 bdrm luxury condo for future investment. Short-sale or foreclosures under market price would be best option. Any advice? Thanks, chita.

for investment... not good.

If you are going to live in it then you are probably making the right move, I don't think buying it to rent it is going to be as great as you think.

I've been thinking of a similar investment. I'm looking to retire to Vegas in 10-15 years and was considering a condo as it appears i can acquire as a discount to rent. Are there responsible management companies in Vegas?

Personally I believe Las Vegas is currently an amazing investment opportunity. So long as your looking 8-10years+.

I think people will look back at 2012/2013 wishing they had bought. Time will tell...

You will find no shortage of places that meet your requirements OP, and should have lots of desperate real estate agents waiting on you hand and foot as well. I'll keep my thoughts (and others from the university administration) to myself in terms of this city's long term future, but I will say that anyone who is investing in this city's infrastructure in any way is greatly appreciated.

isn't vegas going to run out of water by 2025?

No, in fact, the lake is up 50 feet in the past year. Six years worth of water replenished in one winter.

http://lakemead.water-data.com/

If you're talking highrise the HOA fees do not help

These idiot twins I know bought a couple foreclosed homes in vegas, spent time and money re-habing them, then spent months trying to sell them...then spent more months just trying to rent them out....finally they got foreclosed on after they ran out of money trying to make payments while they did all this.

If you do this, you'd better have very deep pockets and the longest range plan imaginable. The only way this will ever pan out is if inflation hits...and the way things are going they are going to artificially keep inflation down for years....not saying we shouldn't be having hyperinflation, but the powers that be are managing to work some sort of evil magic to keep it at bay.

Buy super cheap, go for a house rather than a flat HOA will cain you!

Find something that was sold in 2008 for 1Mill buy for 250-350K to get a 10-15% gross yield be happy with a 5-6% Net yield and hold until 2020.

Sell for 450k and smile

I think we are looking at that time line for recoop on invest... not growth.
but you're right, only time will tell. I am positive for the future though!

Why limit yourself? I'd like to buy houses, condos, apartments, land, cars, planes, boats, potatoes, tomatoes, or even tiddly-winks under market price.
Assuming, of course, there is a reasonably liquid market for said items.

Don't underestimate the big title problems with foreclosures. Do a google search on it. It's probably good to avoid foreclosures because you may be buying nothing.

How are the high rise condos holding up value currently? I'm thinking of veer, panorama... Those are the only two I really know. Sorry if this is an ignorant question this thread just sparked some intrigue (but not enough intrigue to google)