Las Vegas Condo Developers Throw In Their Hand
The LA Times reports on the latest Las Vegas condo cancellation. “Some of the newest high-profile luxury condominium projects in Sin City have been folding like a house of cards. The latest to throw in his hand was actor George Clooney, who announced an agreement with his partners Monday to sell his stake in a proposed $3-billion condo-casino project near the Strip.”
“New York-based developer Related Cos. cited rising construction costs and slowing sales in unloading its 25-acre, 11-tower Las Ramblas condominium. Only about half of the 31,000 condo units under construction or planned in the so-called resort corridor that includes the Strip are expected to be completed, said Brian Gordon of an independent Las Vegas real estate market research firm.”
“‘There is a shortage of qualified developers with the financial wherewithal to pull these projects off,’ Gordon said. Also, he said, ‘a significant number of sites may not have the resources to bring some of the projects to fruition.’ About 50 projects are planned for the resort corridor within one mile of the Strip.”
“Like most other once-scorching housing markets, Las Vegas is cooling off, particularly for new homes including condos, townhomes and single-family residences. Year to date, sales were down 31% in Clark County, and the cancellation rate rose 25% from the same period a year earlier.”
The Miami Herald. “The sale marks another failed attempt by the Miami-based developer Jorge Perez to build in Las Vegas. Perez, whose privately owned company was recently ranked by a builder trade publication as the biggest condo developer in the country, ventured out to Las Vegas in recent years aiming to replicate his South Florida success.”
“But earlier this year, again citing exorbitant construction costs, Perez pulled the plug on a two-tower project called ICON Las Vegas near the Las Vegas Strip.”
“‘There is always disappointment when you don’t build a project you announce,’ Perez said. ‘But is it better that we made a lot of money by selling the land rather than building and losing a lot of money? Of course it is better.’”
“Edge Group bought the land in a deal that closed last week. The company said it’s considering a hotel on the site.”
‘There is a shortage of qualified developers with the financial wherewithal to pull these projects off,’ Gordon said..Perez, whose privately owned company was recently ranked by a builder trade publication as the biggest condo developer in the country’
Related doesn’t have the finances to pull this off? These guys will say anything but the demand isn’t there!
perez has some 70 projects underway in south florida, he can only be a cheerleader at this point of the game.
O.K then Ben, I’ll say it.
The demand isn’t there!
In alignment with some of your previous comments Ben, Lawrence Yun (NAR) took the position that having an increase in the LV inventory wasn’t necessarily all bad. Back in 2004 he cited that there were only 2,900 homes in the inventory. Given the light that we now know that 30 to 40% of the “demand” in 2004/5 was for speculation, oh I’m sorry 2nd or vacation homes ANY growth in inventory should be alarming. What this obviously tells us is that so much of the construction done in those years was to satisfy speculator demand. NOT “homeowner” demand. What a mess.
I hope the speculators enjoy their two week vacation in Vegas.
Falling like flies.
David
http://bubblemeter.blogspot.com
I was just reading about this. I hope Ben’s doesn’t go down.
Speaking of cooling condo sales (but slightly OT), this Craigs List tidbit made me laugh. What’s funnier: “spacious (862sf)” or “If you can close soon, you will have instant equity” (subtext–the longer you wait, the less equity you will have as prices are falling fast!)
http://washingtondc.craigslist.org/rfs/166078160.html
Me Shell,
I peruse C/L for Vegas all the time, how come I never come across “gems” like this? It (like so many others) looks like it was never lived in!
Oh, so sorry, DC! Well doesn’t much matter now does it. Have you seen the now famous DC Condo Lock Box Bench? We had someone here do an “inventory” and they added about 7 new lock boxes a week. Financial gurus are taking a huge step back and re-tooling their “your home is your best investment” schpeel bigtime!
*ahhhhhhh* the Odyssey…
great location, nice-looking units. too bad they’re about a 60% price cut away from being affordable. looks like the developer is undercutting the specuvestors trying to flip their units.
I think I’d paint periscope handles on that structural column in the kitchen.
Woohoo! How about those homebuilder stocks?
Smile on my face today.
‘There is a shortage of qualified developers with the financial wherewithal to pull these projects off,’
Developers don’t have ANY financial wherewithal, lenders do. There’s a financial crisis brewing and these sightings are the tip of the iceberg.
I was in Las Vegas about 3 weeks ago. I just don’t see the demand for any of these luxuary condo towers. How much do the hotel/casino employees make? I am sure some do well, but I can’t imagine them being able to afford $400K plus condos. The Vegas economy is basically the gaming industry.
Why buy a condo? The MGM, Bellagio, Venitian, etc. are immaculate. I’d rather stay there. You can fall out of bed and be in front of a craps table and people come in and clean your room for you. Am I missing something?
I agree. How much time can a person spend in Vegas anyway? Really fun place to visit for a few days every year, but then it’s time to go….
Exactly!!! After 3 days, my body was ready to quit. The 10 hour straight stint at a craps table (with the free whiskey) did me in. We did have a blast and I won enough to cover all expenses other than airfare.
The idea was that big corporations would buy these places because they’re always sending someone to Vegas for a conference or convention or something. I’m sure there may have been a demand for something like this in the form of maybe one tower, but when it seems like there were all of a sudden about 30 of them (I don’t know the number) in the works, then you have a problem.
BTW, valet drivers and drink girls make more money than people realize, I’m not kidding, and it’s almost all cash that they don’t report. It’s not a stripper level, but I’ve heard from reliable sources of guys making 60k or a bit more a year being a valet driver at some of the nicer casinos. Of course, that should only get you about a 180k place max under sane lending standards.
I don’t doubt many make $60K a year. I figured it was close to that. I’m sure the strippers are about $100K. No of which can afford $400K+ condos. This shows how poor lending standards have gotten.
The problem with being a stripper is the income is great but lasts only as long as their bodies. The ones I have talked with are more interested in the Corvette/Plasma TV/Stereo expenditures than owning a condo/townhouse/sfr.
Very true. It is not a “long-haul” career. Also, not surprised the IRS is one them.
Yes, they make more than people realize, and it is cash. However the IRS, is in fact, ‘up their butt’ all the time, it is reported. At least most of it is.
“…‘up their butt’ all the time…” Could you tell us more details about this?
(someone had to say it)
BTW - SPF is down 3% more today.
This may have something to do with it:
http://tinyurl.com/k4was
I loved the line: “Wachovia downgraded Pulte Homes Inc., Lennar Corp., KB Home and DR Horton Inc., all to “Market Perform” from “Outperform.”
“Market Perform?” Anbody look at the last 6months when they were ranked “Outperform?” They are falling so fast there isn’t time for the fan to hit this sh!t. We need a bigger/faster fan.
When they get downgraded is when you have to pay attention if you’re short. That’s when they bounce.
But not today apparently:
http://finance.yahoo.com/q/cp?s=%5EHGX
I’ve long said the stocks were going to suffer far more than the companies and so far that’s been the case.
They call that the short man syndrome.
The really have some smart economists at Wichovia…they are about 2 months late with this downgrade. Better, they should have been reading Ben’s blog. I shorted Pulte 6 weeks ago, based on this blogs info, and now the PHD’s at Wichovia confirm what I read here.
Instead of a goul pool I am starting an Enron pool at my office as to which public homebuilder files first. My money is on Standard Pacific or Ryland. Standard already has an office in Corona but claims that this office can only run the south portion of the Inland Empire so they have just opened a new office for the north portion of the Inland Empire. I want some of what they are smoking.
I would bet SPF or HOV
LV_Landlord -
Where are you? Please tell us why Vegas is different?
But… but with all these cancellations the existing housing stock will be in all that much more demand. Turns out to be true, thay aren’t making any more of it. At least not for a decade or so.
Different blog (and of no interest to others), but my fiance bought the Civic last Friday. Great car, but I’m beginning to wonder if we should have bought it later due to first year models usually having more problems than model years that follow (they need to work out the bugs). But, this car has also been for sale since September or October, so they’ve had about eight months already. Any thoughts?
I am still in the blinded by new car shine and heady from new car smells phase but we couldn’t be happier. The 06 improvements are all of the refinement variety; better aerodynamics, streamlined manufacturing processes, amenities. The suspension, engine, transmission, brakes and such are all known quantities so I fully expect the next 298500 miles to be like the first 1500. Of course I still have to find a not-Honda service center for mantainence as the dealerships are outrageously priced.
mr cote. if you are in arizona go to AZ Autodoctor. they are in the scottsdale airpark on butherus rd. very good, all orig honda parts very low labor rate. honest good men.
A “tad” out of my area. I’m fatdumbandhappy in Ventura County California. Scottsdale today sadly isn’t the AZ I remember. Taliesin West was a “day trip” out of town.
Just got rid of my Yukon, got a Civic. I have had a few problems, but the gas mileage is great.
hubby’s lusting after the new civic to replace his ancient thing ( i generally like buying used cars, but the civic is the only car I’m okay about going new on, to drive into the ground of course). I think it’s gotta be a lot safer to go with the first redesign-year in a civic than with any other car!
I’m loving my 2004 civic and just hope that the redesign for fatter american asses hasn’t caused it to lose it’s very nice niche as the most comfy car I could find for a petite person like meself
I hope nobody’s had big problems with the civic…my 2004 model had this weird clicky thing going with the brakes, which the dealer assured me is just ‘how they are’…intermitten problems are so annoying. it’s not a performance problem so much as a ‘feel’ annoyance (we have the no ABS version of old…)
those new ones sure are cute…enjoy!
I HAVE A CIVIC… the clicking thing is normal. that click is the brake pad reseting in the caliper everytime you stop and go. the only bad thing about the 01-05 civic was the brakes. I have been very tempted to buy an 06 civic, but it goes agains my religion of used cars only… what to do???
A recent Consumer Reports issue compared the incidents of problems in first-year models with later years. The bottom line: only fools are early adopters or first-year buyers, given the much higher rate of bugs and problems.
LV Landlord can be found these days camped out next to a 7/11 dumpster, bottle of Thunderbird in hand, hanging out with her hopes and dreams.
Looks like Liar-earah has some condos to unload-
The Federal Reserve should pause from its steady path of interest-rate hikes because some housing markets are becoming vulnerable to correction, said David Lereah, the chief economist at the National Association of Realtors. “[T]his is a time for the Fed to pause on rate hikes because we have some interest-sensitive housing markets that have become vulnerable,” Lereah said. The NAR says 2006 will be the third highest on record. Lereah forecasts existing-home sales will drop 6.8% to 6.60 million this year from the record 7.08 million in 2005. The national median existing-home price for all housing types is forecast to rise 5.3% this year to $231,300
Good catch please post the link. Thanks Hoz
Every time he comes out with his forecast for this years national median it’s just a tad lower. First it was going up 6%, then a few weeks ago it was 5.7%, now it’s going up 5.3%.
You know darn well David Lereah is going to blame it on BB’s rate increases .
crispy & cole,
You always seem to have the “goods” don’t you! Wait a minute! If RE is so obviously the investment vehicle of choice both now and forever and people are falling all over themselves to get further in debt you shouldn’t need any help from the FED? “Some” RE markets are interest sensitive and vulnerable? But David, rates are still low, employment is strong and wages are rising!
Link to Crispy’s article http://tinyurl.com/ga4yv. Fascinating stuff guys. It was a long wait, but things look to become worth the wait rather quickly now.
Thanks for posting the link!
I want Ben’s site to be the first with all the stories.
I just love these articles. Where oh where did the spring sales go? Oh where oh where is the news media holding interviews of past pundits (sarcasm) that hold them accountable for helping shear more sheepal?
Now we have all the stagflation concerns.
DinOR-
There are so so many new condos in our neighborhood (Arlington, outside of DC)–its pure madness. We take our baby on walks on the weekends and pop into open houses randomly and its like the condo flippers all got the same memo re: “staging” (do they get this memo when the close on the condo with the rest of the docs, I wonder?)—either the place is totally empty or there are strange staging details like brand new bathroom towels (but no TP), a cookbook open on the counter (but no dishes), swanky magazines on the coffee table (but no TV), a comforter on the bed (but no sheets). We haven’t seen an actual lived-in condo in months. Its insanity.
Me Shell
OMG! That is SO funny! Seriously. Actually I wouldn’t doubt that there is considerable “coaching” during the closing process on how to “maximize your profits”. A cook book, but no pots or pans? Well I suppose they could order out 7 nights a week. Nothing necessarily incriminating there. Comforter but no bedsheets? Who am I to criticize the “sleeping habits” of others. Fancy towels but no TP? Now wait just a damn minute here!
Me Shell,
I know a guy in the Chicagoland area that sells a “staging franchise”. They “place” couples in mansions for a fraction of market rents (let alone PITI) to give the appearance that it is actually lived in. He even does it himself. If someone’s offer is accepted well…… then he has to move. (He’s been in his latest mansion for over a year). Nice work if you can get it.
In the early 1990’s this was very common in the Washington, D.C. area, except there would be ads in the rental section advertising to “hire” just about anyone who would be willing to come and live in a place and keep it looking nice so it would sell. The rent was a very reduced rate.
Basically, that’s what we’re doing currently. The buyers of our home last year had to leave, couldn’t sell, and so we’re moving in to try to help them sell it next Spring. Our furniture was purchased for that particular home and we are good at decorating. Did I mention our rent is less than our prior mortgage payment on the property. Oh, and they painted so we don’t have to.
Also, I’m not all that concerned about having my life disrupted with that many buyers next year.
I posted a few weeks ago about an open house I went to…The female realtor filled up the bath tub and put a rose on the bottom and had lit candles floating around in it…She had a full compliment of nice silverware on the dining room table like she was going to serve a turkey diner…She had juice and cookies, every light and fan were on…She said she was the hands off type, because she didnt like the
used car sales approach…She then hounded me
in every room…I had a blast talking about the
bubble and how prices were falling and I would wait until they were %50 lower…She had such a devastated look on her face…It looked like I was the first person to tell her about it.
The Economist,
Now I suppose there are those among us that would say you are just plain cruel, but damn it someone has to tell these people! That or you were her only “prospect” for the day and she was hoping against hope that you hadn’t heard about the crash either? American Beauty!
As Jack Welch has said.
It is false kindness to coddle people.
David Lareah is begging for mercy from the Fed. If he wants to be persuasive, he has to start showing some remorse, and stops his optimistic media propaganda in forecasting house prices. You can’t have it both ways Mr. Lareah.
tommy_trojan,
Well tommy (and dawnal) there you have it. The bubble pleading for mercy! God I love it. What’s funnier is that throughout all of the “tightening cycle” prices continued to rise and all of RE was laughing at the “penny ante” rate hikes b/c they knew full well that they were the growth engine coming out of the recession. Pffft, go ahead! When the overnight lending rate was at 1% and we were doing QUARTER POINT hikes they had all the room in the world to laugh. And you know RE didn’t CARE if the crowding out the rest of the economy. This is just too good!
If he would stop his BS cheerleading and stell it like it is, that housing is slowing, then the market could possibly cool faster and they may stop hiking, but his incessant lies about how everything is still strong, while basically begging the Fed to stop, puts the “liar
in Liareah. “interest-sensitive” markets…as if falling prices to promote affordability is a bad thing. What an ass.
Posted at indexcalls.com:
“WASHINGTON (MarketWatch) — The Federal Reserve should pause from its steady path of interest-rate hikes because some housing markets are becoming vulnerable to correction, said David Lereah, the chief economist at the National Association of Realtors. “This is a time for the Fed to pause on rate hikes because we have some interest-sensitive
” Lereah said. The NAR says 2006 will be the third highest on record. Lereah forecasts existing-home sales will drop 6.8% to 6.60 million this year from the record 7.08 million in 2005. The national median existing-home price for all housing types is forecast to rise 5.3% this year to $231,300.”
**********************************************************************
Lereah on his knees, pleading…..
Yes… You see there are now …”housing markets that have become vulnerable…”
Please, Mr Bernanke, Don’t raise those rates again..please, please..
BB: David, I dont understand, just last week you said this was going to be the third best year on record and the housing market was doing great.
David: Ben, your in government, you know we have to lie and say everything is great.
BB: David, yes you are right…I have already lied myself…I said the economy is fine and we
have nothing to worry about….All the while my
cronies are printing money and spending like my daughter the day after her birthday party at Target…
BB: By the way David, you were very convincing. you were able sucker in another
100,000 fools in to purchasing at the peak.
Way to go David!!
David…Thanks Ben, Are you interested in a condo?…I have a couple of great deals for you.
BB: Now you wouldnt be talking about the ones you own would you?…I dont want them,
knowing they are going to tank, buy maybe my mother does..
LOL, come on ,my coffee is all over my keyboard .
David: Hey great idea…Ill try to dump my condos on my mother or another dumb realtor…They are the only ones that believe a word I say anymore.
A bit off subject. I was talking with a commercial agent yesterday as I am looking at relocating my office (lease only) and he claims the commercial end is at least as messed up as the residential end. He was actually encouraging me not to buy. Says that product is way over built in the inland area of so cal and there is more in the planning depts. than are currently built. He claims that demand is at about half of what is already built. Claims that most of the money is coming from pension funds. Everyone, homeowner, flipper, investor, renter is going to feel some hurt when this bubble really starts to pop !
Add to this, that the economy is like a 30 year old Vega…The government has just been putting tape and bailing wire on it to keep it running…
Right here next to our off in camarillo there are two huge buildings that sport “FOR LEASE” sign atleast since I move to this area, about 8 months.
I’ve watched building after building all along 101 having lease signs, god know for how long. I always wondered who pays the interest on these buildings!!
LMAO at the staged bathtub. So subtle: “Buy this overpriced house and you’ll get laid!” They do say sex sells…
She would have had to pay me…But I did leave her like we had broken up…All teary eyed.
Bubblefucious say:
“Realtor who stage romantic scene just getting ready to screw you.”
Open houses:
1. went to an open house and the lady RE was baking chocolate chip cookies….she said she read that the smell makes it seem more homey.
2. have you noticed in the staged houses,because of the small sq. footage, that they remove the bedroom doors so that furniture can be arranged to make the unit appear larger?
They often use scaled-down furniture that is about 80% of full-size. It used to be called model-home furniture. Most staged bedrooms do not have both a dresser and a chest of drawers in them. Never dreamed that so many people play the piano.
LOL, I’m imagining a frustrated RE agent frantically baking more & more cookies, loading up all oven racks — even the toaster oven has cookies! — as the open houses remain empty, empty, empty. Flour flying everywhere, burnt cookie smoke wafting through the air (how’s that for “homey” smell)…too funny!
Forgot to add, realtor panting under breath: “It’s all…about…the cookis. Cookies…make…the sale….”
Forgot to add, realtor panting under breath: “It’s all…about…the cookies. Cookies…make…the sale….”
Home values up 20% in Idaho Valley housing market cools a bit
The Treasure Valley finished 15th in the agency’s ranking of individual metropolitan areas, with an appreciation rate of 27.50 percent.
But area industry experts say the runup in prices may not be sustainable now that out-of-state investors are apparently losing interest in the Valley.
Marianne Wake, owner of The Mortgage Co. in Boise, said the number of loans her company issues is falling as high prices keep some homebuyers out of the market. The increase in loan values has offset that decline, she said.
“We only have to do half as much as we used to because the loans are so big now,” she said. “It used to be that a $200,000 loan was a big loan. Now it’s just average.”
Wake said rising prices hit first-time home buyers especially hard. “You can’t find a home that’s decent for less than $180,000, and the first-time home buyer can’t afford that,” she said. “I’m afraid that a lot of these kids are going to end up having to go back to living in trailers.”
Wake said her confidence in the local market remains high enough that she plans to add five new loan officers.
“We’re going to have to make connection with the high-end home buyer, if we’re going to survive,” she said.
The Treasure Valley’s housing boom is starting to slow, some housing-industry leaders say.
George Tallabas, a Nampa real-estate agent with ReMax Advantage, said developers can no longer count on having half of the homes in a new subdivision sold before construction has been completed.
Moreover, the industry is now having to depend more on local buyers because runaway housing costs and rising interest rates have combined to chase off the out-of-state investors who have been driving the housing boom, he added.
“We’re starting to see a definite correction in the market,” Tallabas said.
Developers are starting to reduce prices because the cost of home is now beyond the income earned by many Idahoans, he said.
Barton said his recent rollback in some prices is attributable to overestimating this year’s increase in the cost of building materials.
Barton conceded, however, that his sales were off an estimated 10 percent in the first quarter, which he attributed to “sticker shock” experienced by consumers.
http://www.idahostatesman.com/apps/pbcs.dll/article?AID=/20060606/NEWS02/606060350
“We’re going to have to make connection with the high-end home buyer, if we’re going to survive,” she said.
and in 9 months….
“We’re going to have to make connection with the foreclosure home buyer, if we’re going to survive,” she moaned
Guys: Dow taking a black swan dive? Black tuesday?
Yes, Its starting to remind me of march of 2000
all over again…
This was long overdue. Take away rising home equity, and we are left with not much.
More WAY TOO LATE COMMENTS:
Underwriting standards for commercial real estate lending by banks is on a downward trend and is a cause for concern, Federal Reserve Gov. Susan Bies told a bankers’ conference Tuesday. “We have noticed some slippage recently,” Bies said in prepared remarks to the conference
Dow at 10,960 and still no sign that the Plunge Protection Team is going to save the day like Getstucco assured us would happen.
Wow!
I am all IN! Had a tough time shorting HOV to add to my TOL short from 33.00 a few months back. I can’t see any way for things to get better for the builders. At least not for the near future. Gotta make up for my TOL short from Apr 05. Just a few more points…: )
-eric
Be careful, with a lot of smarty pants like you
you’ll be in the middle of some nasty squeezes.
Max,
Thx for the advice, got caught up in a nice squeeze last year and finally bailed but held tight this go around when the squeeze was on and it’s worked out pretty well.
I actually bailed out on a lot of stock holdings 5/11 when the market took a beating. Still buying equities in my 401K but locked in some of my gains back then. Believe me, I’m not trying to boast, I just see a lot of pain going forward here.
-eric
They are busy with the gay marriage right now.
NEW RECORD INVENTORY IN PHOENIX
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12/26/2005 26810
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12/28/2005 26687
12/29/2005 26649
12/30/2005 26547
12/31/2005 26497
1/1/2006 26462
1/2/2006 26401
1/3/2006 26751
1/4/2006 27403
1/5/2006 27564
1/6/2006 28224
1/7/2006 28337
1/8/2006 28542
1/9/2006 28595
1/10/2006 28786
1/11/2006 29222
1/12/2006 29507
1/13/2006 29689
1/14/2006 29899
1/15/2006 30415
1/16/2006 30391
1/17/2006 30707
1/18/2006 30817
1/19/2006 31085
1/20/2006 31457
1/21/2006 31463
1/22/2006 31497
1/23/2006 31607
1/24/2006 31766
1/25/2006 31830
1/26/2006 32142
1/27/2006 32002
1/28/2006 32477
1/29/2006 32458
1/30/2006 32512
1/31/2006 32563
2/1/2006 32684
2/2/2006 33087
2/3/2006 33145
2/4/2006 32953
2/5/2006 33368
2/6/2006 33576
2/7/2006 33550
2/8/2006 33684
2/9/2006 33844
2/10/2006 34234
2/11/2006 34588
2/12/2006 34753
2/13/2006 34815
2/14/2006 34815
2/15/2006 34816
2/16/2006 34816
2/17/2006 35144
2/18/2006 35427
2/19/2006 36260
2/20/2006 35443
2/21/2006 35642
2/22/2006 35503
2/23/2006 35324
2/24/2006 35178
2/25/2006 36388
2/26/2006 36524
2/27/2006 36639
2/28/2006 36174
3/1/2006 36389
3/2/2006 36283
3/3/2006 36811
3/4/2006 36900
3/5/2006 37064
3/6/2006 37217
3/7/2006 36953
3/8/2006 37487
3/9/2006 37626
3/10/2006 37531
3/11/2006 38011
3/12/2006 38184
3/13/2006 38169
3/14/2006 38003
3/15/2006 38197
3/16/2006 38574
3/17/2006 38602
3/18/2006 39074
3/19/2006 38972
3/20/2006 38822
3/21/2006 39159
3/22/2006 38982
3/23/2006 39043
3/24/2006 39271
3/25/2006 39381
3/26/2006 39504
3/27/2006 39817
3/28/2006 39784
3/29/2006 39765
3/30/2006 39948
3/31/2006 40192
4/1/2006 40177
4/2/2006 40182
4/3/2006 40012
4/4/2006 40050
4/5/2006 40332
4/6/2006 40739
4/7/2006 40612
4/8/2006 41124
4/9/2006 41393
4/10/2006 41018
4/11/2006 42266
4/12/2006 42327
4/13/2006 42257
4/14/2006 42561
4/15/2006 42592
4/16/2006 42775
4/17/2006 42874
4/18/2006 42523
4/19/2006 42840
4/20/2006 43017
4/21/2006 43236
4/22/2006 43385
4/23/2006 43502
4/24/2006 43697
4/25/2006 43344
4/26/2006 43427
4/27/2006 44024
4/28/2006 43886
4/29/2006 44022
4/30/2006 44290
5/1/2006 44229
5/2/2006 43900
5/3/2006 43966
5/4/2006 44162
5/5/2006 44422
5/6/2006 44094
5/7/2006 44575
5/8/2006 44777
5/9/2006 44609
5/10/2006 44898
5/11/2006 45097
5/12/2006 45356
5/13/2006 45502
5/14/2006 45619
5/15/2006 45697
5/16/2006 45705
5/17/2006 45675
5/18/2006 46064
5/19/2006 46189
5/20/2006 46049
5/21/2006 46734
5/22/2006 46753
5/23/2006 46965
5/24/2006 46856
5/25/2006 47133
5/26/2006 47225
5/27/2006 47582
5/28/2006 47591
5/29/2006 47633
5/30/2006 47722
5/31/2006 47542
6/1/2006 47187
6/2/2006 47191
6/3/2006 47848
6/4/2006 47877
6/5/2006 47979
6/6/2006 48218
You know the LV hi-rise condo market is in trouble when you see their ads running incessantly on ESPN, of all places. LOL