Another development hit hard by during this credit crunch and tightening mortgage lending time.
Some buyers have received a bankruptcy meeting for March 3, while the bankruptcy paperwork was filed January 29, 2008. Westmark Homes is doing business as HDB LLC.
Condo buyers in early 2004 were expecting building completion within a year. That time has since past a long time ago.
Mira Villa condos for sale in Summerlin were being sold at prices starting in the low $900,000s. Units ranged from two to four bedrooms with up to 4,000 square feet. Amenities included a private elevator, enclosed garage and a recreation center with a card room, fitness center and a pool.
Other preselling new condominiums in Las Vegas receiving deposits without starting construction include Cosmopolitan, Spanish View Towers and W Las Vegas.
Real estate developers are trying to build in this heightened inventory market. Making it difficult for consumption of new inventory levels.
Other properties developed by Westmark include Terra Bella active adult community and Coronado condos in Summerlin.
Many prospective condo buyers now can’t receive mortgage financing with the fallout from subprime mortgages. Source: Review Journal
Westmark Homes in Las Vegas file bankruptcy protection for Mira Villa.