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Manhattan West Las Vegas condos stopped construction on development in west Las Vegas real estate.  The mid rise development by Gemstone Development cites mortgage lenders terminating financing.

The local real estate developer is looking to create an investment group for buying discounted senior notes for completion of the development.

This past year in Las Vegas the pricing for residential real estate has deeply been discounted.  Many developers have lowered their prices to levels of at or below their cost.  At this pace many builders are going bankrupt or out of business.  (more…)

Condos in Summerlin real estate approved by bankruptcy judge to complete construction.  The news this week about the Mira Villa luxury condos comes to buyers as a relief after they have been in limbo for nine months since the luxury project stopped.

The new general contractor is Isaac Construction and is under the deadline of January 6, 2008 before the building permits expire.  They will need to be onsite for many inspections.

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Las Vegas condo buyers may see deposits returned after court approval.  The bankrupt Mira Villa condos in Summerlin are close to several motions for the bankruptcy trustee to approve postbankruptcy financing of $38 million in several weeks.

The luxury Summerlin condominiums stopped construction earlier this year.  Last month the court held a hearing for purchase agreement cancellations.  If creditors don’t object to the refunds, buyers could see deposits returned from escrow.  Nearly 50 buyers have asked for their contract cancellation.

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Newport Lofts in Las Vegas slashed luxury condo prices with incredible luxury condominium sale and are priced from &199,900.  The unveiling of their new sales center, Oct. 24 – 26 in the high rise, will kick off their new home buyer’s incentive.

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