Las Vegas High Rise Condo Hotel Project Fountainebleau Gets A Huge Financial Boost
Major investments were being made on high rise condo projects on the Las Vegas Strip. Today comes word from the Las Vegas Review Journal that Fountainebleau Resorts has secured $4 billion dollars in financing to complete their $2.9 billion Fountainebleau Las Vegas, currently under construction at the corner of Las Vegas Boulevard and the Riviera. The Bank of America, Merrill Lynch, Deutsche Bank, and Barclays are some of the financial institutions involved in the deal.
I'm thinking analysts at these major institutions probably know a lot more about the potential Las Vegas holds than does the national media, who continue to write articles behind their desks 2000 miles away saying how overvalued Las Vegas is.
The Fountainebleau will be a 63-story mixed use project on 25 acres scheduled to open in the fall of 2009. Included in the project is a 100,000 square foot casino, a performing arts center, retail, restaurants, convention space, and 3,889 condo-hotel units.
Also backing this project is Publishing and Broadcasting, Ltd, controlled by billionaire Vegas-lover James Packer. Packer contributed $250 million in April for a 19.6% stake in Fountainebleau Resorts.
These are all strong numbers. When it comes to listening to the media versus those controlling billions of dollars, I'll go where the money goes! There are a number of significant high rise developments currently under construction in Las Vegas. So whether you're looking as an owner occupant, a 2nd/vacation home purchaser, or as an investor, please contact me for more information on what high rise project is right for you.
Ron Costa
ron@vegasnnn.com
702-688-6454
http://www.vegasnnn.com
Read my high rise blog: http://highrises.blogspot.com
Article Source: http://EzineArticles.com/?expert=Ron_Costa
Sunday, July 8, 2007
What's So Special About Condos?
Condos offer conveniences that townhomes and single family homes do not. A condominium is property individually owned and also shared within the condo community. As a condo owner you will own the "inside" of your property (everything inside your door) but share common areas with your neighbors. So you own your kitchen, but not your roof or the hallway leading to your door. Your condo association, collects monthly fees from you to manage and maintain the common areas. That means the condo association will repair the roof if there is a leak. If you had a townhome or single family home, your leaky roof is your problem.
Want more perks? You don't have to mow the lawn or shovel the snow because that is what your condo association provides. You don't have to trim the trees outside your condo. But there is a cost for this. Sometimes the cost is hefty. It is not unusual to pay upwards of $500 a month in condo fees. Condo fees can include water, electricity waste disposal, management and a host of other benefits. And condo fees may only cover your water bill. You will have to check with your condo association to determine exactly what you get with your fees. So if you have the choice of buying a 3 bedroom townhouse with a $45 HOA fee (home owners association) or a 3 bedroom condo with a $300 condo fee, make sure that condo fee includes more than a friendly greeting from the condo association's receptionist.
So if you are busy and you don't have the time to plant flowers or breathe in the fresh smell of cut grass (grass that you cut), a condo provides the convenience of avoiding those chores. If you want to have something you own, but have a monthly payment that includes your water bill, electricity and repairs to the outside of your premises, a condo provides simplicity.
But it also provides RULES, RULES and MORE RULES.
If you write a contract for a condo, you will be given 15 days to read over the Condominium Rules to confirm that you really want to live under the condo associations' restrictions. If you purchase a townhome or single family home, you need to have a stipulation in the contract or provision that states how you can terminate the contract. Condos are different. If you decide after 14 days that you don't like the rules, the contract is terminated. Why 15 days? The Rule book is often over 100 pages long, and this is not Grisham or Koontz or DeMille. It is a BOOK OF RULES. A book of tedious rules and conditions that NOBODY ever reads. Not in 15 days. Not ever. Rules against pets. Rules against satellite dishes. Rules about parking spaces. But those are the main rules. So if those rules don't bother you, you should be fine.
Weigh Convenience and Simplicity against Cost (fees) and Control and you will know if a condo is good for you.
Find condos in your area at http://www.newcondohomes.net .
Article Source: http://EzineArticles.com/?expert=Derrick_Rogers
Condos offer conveniences that townhomes and single family homes do not. A condominium is property individually owned and also shared within the condo community. As a condo owner you will own the "inside" of your property (everything inside your door) but share common areas with your neighbors. So you own your kitchen, but not your roof or the hallway leading to your door. Your condo association, collects monthly fees from you to manage and maintain the common areas. That means the condo association will repair the roof if there is a leak. If you had a townhome or single family home, your leaky roof is your problem.
Want more perks? You don't have to mow the lawn or shovel the snow because that is what your condo association provides. You don't have to trim the trees outside your condo. But there is a cost for this. Sometimes the cost is hefty. It is not unusual to pay upwards of $500 a month in condo fees. Condo fees can include water, electricity waste disposal, management and a host of other benefits. And condo fees may only cover your water bill. You will have to check with your condo association to determine exactly what you get with your fees. So if you have the choice of buying a 3 bedroom townhouse with a $45 HOA fee (home owners association) or a 3 bedroom condo with a $300 condo fee, make sure that condo fee includes more than a friendly greeting from the condo association's receptionist.
So if you are busy and you don't have the time to plant flowers or breathe in the fresh smell of cut grass (grass that you cut), a condo provides the convenience of avoiding those chores. If you want to have something you own, but have a monthly payment that includes your water bill, electricity and repairs to the outside of your premises, a condo provides simplicity.
But it also provides RULES, RULES and MORE RULES.
If you write a contract for a condo, you will be given 15 days to read over the Condominium Rules to confirm that you really want to live under the condo associations' restrictions. If you purchase a townhome or single family home, you need to have a stipulation in the contract or provision that states how you can terminate the contract. Condos are different. If you decide after 14 days that you don't like the rules, the contract is terminated. Why 15 days? The Rule book is often over 100 pages long, and this is not Grisham or Koontz or DeMille. It is a BOOK OF RULES. A book of tedious rules and conditions that NOBODY ever reads. Not in 15 days. Not ever. Rules against pets. Rules against satellite dishes. Rules about parking spaces. But those are the main rules. So if those rules don't bother you, you should be fine.
Weigh Convenience and Simplicity against Cost (fees) and Control and you will know if a condo is good for you.
Find condos in your area at http://www.newcondohomes.net .
Article Source: http://EzineArticles.com/?expert=Derrick_Rogers
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