May 7, 2008

Empty dream homes flood Las Vegas market

The aging process quickly hits homes in Las Vegas.

There are 600 million-dollar properties built since 2004 on the market -- and many of them are considered outdated.

They blow up aging casinos in this town. Now, some are wondering what to do about yesterday's desert dream homes.



Take the foreclosed million-dollar house realty agent Michael Antos recently showed.

To the untrained eye, the four-bedroom, five-bath retreat may appear top-drawer, shimmering with granite and marble throughout, and with posh touches like a pool with a sandy beach entry.

But Antos pointed out that the house was showing its age. After all, it was built in 2000. In Vegas, that makes it as dated as a coin-operated slot machine.

Link