As condo developers struggle to sell units, many are looking to market their units outside their markets and even to other countries.  In some markets such as Arizona, many condo conversion units are being marketed to Canadians.  Why? Well, for one the dollar in the Canadian market is quite strong and much money is floating around that country thanks to oil and gas profits.  I feel that developers need to market outside the US and they should also change their campaigns a little bit as well.  Instead of simply advertising their projects, they should be advertising the US as well!  The US in the grand scheme of things is still a safe place to invest in condos.  Our government is still relatively one of the best in the world and like all real estate economies, there will be ups and downs.  If developers are having a problem selling units, they need to become malleable to the market place and start advertising differently.  Advertise where the money is...that's what I say!  When a kid gets paid $100,000 right out of college to drive a truck in the oil fields, typically that kid will have plenty of money to spend for investments.  So, make deals with oil companies in Canada and other parts of Canada to promote why investing in new condos in your area is a solid investment.  Play up your surroundings, amenities, low interest rates and you will most likely be surprised by the inquiries you will receive!

In real estate and now more than ever, if you don't have a website, you might as well not be in business.  For developers in a competitive market, you need to make sure your condo development can be found online.  Why?  Because I can bet that some overnight millionaire in Russia or China or Europe isn't getting the local paper delivered to their home each morning.  What's the connection?  Easy.  The US is relatively one of the most stable, if not the most stable market in the world.  With the shift in certain economies, many foreigners are finding new found wealth and are looking to invest their cash in certain assets - one being real estate.  As many people know, the US market, like other markets, is a pendulum.   Yes, the real estate market is on the backward swing but it will again bounce back.  Hey, if we can recover from the Depression, we can do pretty much anything.  The resilience of the US economy is very attractive to foreign investors.  With that being said, investors are looking for great new condo buys now in the US - which, today, are like a dime a dozen.  Where are they finding these deals?  That's right - online.  Developers need to have an optimized website in different languages sometimes to make sure they are catering to their audiences abroad.  Developers also must take into consideration how a site should be built so that it can be optimized correctly and search engine friendly.  This is key to any successful website.

What?  Give a new home a test run?  How can you do that?  With the current condition of the market, sellers are getting creative.  (In fact, creative agencies looking to hire new people should keep their ear to the ground in regards to how sellers are trying to sell their home...but I digress.)  Some sellers, from what I have read are prepping their home and allowing some potential buyers to actually stay in their home for a few days - to get the feel of the home or condo.  How crazy is that?  You can literally try out a home for while!  I mean, I gues it makes sense.  Some people are giving their will to the buyer when they die and some simply prep it with new furniture.  Whatever the gimmick is, they usually make the news.  The more random, most likely the more exposure the sellers will receive.  But do these tactics work?  Does even the exposure from the media about their creative idea help sell the home?  It would be a very interesting case-study, don't you think?  Is this where the markets are headed?  I mean, what other crazy ideas will sellers of new condos come up with?  Maybe there should be a site dedicated solely to  the wackiest and most creative ideas a seller  has.  Or, to follow a trend, we can create a reality a TV Show called SELL MY HOME! where a host profiles property owners who need to sell their home fast!  Has anyone written a book on this?  I would be curious to read it as would many property owners in dire need of someone to buy their condo.

Isn't starting a blog off with a cliche such a cliche?  Well - yes.  But sometimes these cliche's hold water!  Another cliche - I should really stop!

Scottsdale, Arizona is someplace that people should not overlook when searching for a new home or new Scottsdale condo.  Scottsdale, although a little warm in the summer, has many exciting new developments at exceptional pricing.  Luxury condos such as those at Monterra Scottsdale start under $140,000 for a 1bed.  Spacious units are available at Monterra Scottsdale as condos range up to 955 sf. You may say to yourself that this is just another condo development, why should I buy here?  Well, the amenities should help sway you.  Such amenities include: slab granite countertops, a refinished shower and tub, and brushed nickel lighting...just to name a few.  I am actually excited about this project.  It just graced the pages of New Condos Online but it has had already, a phenomenal response thus far!  I guess people see the value in a project like this. Luxury at an affordable price won't last for that much longer.  With the Fed not lowering rates anytime soon (they are expected to keep rates stagnant next quarter), getting in now is a no-brainer.  If you're really interested in Monterra Scottsdale, you should for sure ask about their summer specials which, I believe, ends August 31st.  Only one way to find out...visit the project on www.newcondosonline.com.

At New Condos Online, I'm always trying to keep abreast of all facets in the real estate industry.  Mortgage brokers, lenders and others have recently been in the headlines again due to fraudulent and unethical lending practices.  There have been several cartoons about them in certain political magazines and many goofs made on talk shows and I'm sure there are many writers in Hollywood whipping up scripts - satires, dramas, comedies - about what has recently swept through America in the past few years.  I have now recently just read about "Operation Malicious Mortgage" and although it doesn't solve any of the problems, a few are going to pay drastically for the many many lives that they ruin.  Federal prosecutors recently arrested two execs from Bear Sterns (Matt Tannin and Ralph Cioffi) who were partly responsible for that pretty big mess at the investment bank not so long ago.  In addition to these 2 former execs, the feds announced that more than 400 people have been arrested and charged with roles in the housing crisis and in turn, credit market crisis.  More than 1000 investigations are still under way.  Although this may be satisfactory to some, I feel that it is not.  You can arrest people and make them pay by putting them in jail or fining them but it won't get a family back their new condo they bought on the assumption that a 6-month libor was a solid mortgage choice.  And it won't put money back in the pockets of investors who invested in these "solid" mortgage-backed securities.

Condos seem to be going up left and right despite current market conditions.  New Jersey - especially Jersey City is no exception.  Living in New Jersey can be beneficial for many - lower real estate prices compared to NYC and less hectic.  The Thread is a new condo development from W Developers which is slated for completion this fall.  These condos are affordably priced - starting in the $300,000 and range up to about $800K.  Standing 15 stories tall and home to 151 units, this condo will for sure be a big hit in Union City.  The Thread is only minutes from Midtown so experiencing New York life is never out of the question.  Looking at some of the renderings and images on New Condos Online, I'm extremely impressed with this development and if I ever moved to New York, I would definitely consider buying here.  Amenities include: 24/7 Concierge, huge garden oasis, secure parking, entertainment area for the family and an indoor/outdoor children's play area.  The staggering and breathtaking views of Manhattan should not be overlooked when considering purchasing a unit at this incredible Jersey City condo.

New Condos Online is proud to now feature a Related Companies project in New York, New York! Many new Manhattan condos are rising in New York but Riverwalk Court will for sure stand out. Riverwalk Court is a joint effort between The Related Companies and The Hudson Company. Situated to be erected on Roosevelt Island in 2009, this development will featured condos for sale under $600K! That may sound crazy but in NYC, that's a steal! Offering 1-3 bedrooms and with floorplans starting at 682 sq ft, owning a unit here will be a sound investment. This project will combine city living with the essense of tranquility thanks to the East River and NYC Skyline. One of the sweetest amenities to this development will be the rooftop cabanas which will encompass panoramic views of the skyline. Other amenties include a yoga studio/fitness center, children's playroom, entertainment lounge, and a 24-hour concierge. So the question I will seem to ask buyers who can afford a home here, why would you not want to own here? I can see the demand only increasing over time as the project nears completion - which by the way, will be in 2009. Live the life you've always dreamed and buy a condo at Riverwalk Court!

Guess what?!  Another condo/hotel is going up in New York City!  That's right...as if there has not been enough development in the city that never sleeps, another developer is coming in and is going to construct a new condo development that I'm sure, will have many people in awe.  This will not be any other ordinary condo building but an extraordinary one as Nobu is putting their name behind this development.  From what I have read, the building will be 62 stories tall and feature 77 condos and a 5-star hotel.  Swig Equities seems to be the developer behind this massive construct and I am having mixed feelings about the project.  There is no doubt that Nobu is one of the hottest restaurants in the country, but what is their experience in the hospitality and condo industry? Will the brand stay strong enough to parlay into a condo/hotel? Will they be able to effectively sell 77 units?  Restaurants come and go - it's nature.  I'm just curious to know if Nobu is strong enough to perhaps withstand the average life of a restaurant and thus become a successful condo/hotel chain.  Is Nobu looking to brand themselves into a hotel after their restaurant?  I’m excited to follow the development of this New York City Condo.

I read recently that foreclosures are becoming more and more common these days.  Yes, that was sarcastic.  Foreclosures, from what I have heard, are not fun to deal with.  From getting a huge drop in your credit to not being able to ever buy a condo or home again for 7 years, foreclosures don't seem to be something that I would ever want to deal with.  With that said, how are other people dealing with your foreclosure?  More specifically, how are people in your community being affected by your misfortune?  A large part of living in a community like a condo high-rise or a new home community is the fact that you need to pay certain "dues" each month.  These dues can be a little as $75/month and can range up to $2500/month.  Dues are used to keep a community running.  For example, pools, trash, taxes, workout facilities, janoritorial duties and anything else your community requires needs extra money, known as "dues" to operate.  What is now happening, is that neighbors and residents are forced to pay more as their neighbors are foreclosing on their new condos and/or new homes.   This is just another example how the distressed housing market can and will directly affect your pocket.  Beware and make sure that you budget enough for the following years!

So, Chevron - that somewhat big gas company - recently posted a little over a $5 Billion profit.  That's $5,000,000,000.00!!!!  With gas prices extremely high and with no notion of going south, consumers are looking for ways to save time in the car.  I read about Chevron and I thought to myself that owning in a mixed-use condo development in a hip area would be a very smart idea.  Think about how much gas you waste driving to the grocery store, drug store, coffee joint, gym, restaurants and whatever else, you use your car for. Now, just think if you lived in a mixed-use new condo.  Many of these new developments possess the intangibles that are really starting add up.  In San Diego, for example, many mixed-use San Diego condo developments are saving many residents of this city tons of money on gas.  My friends who live downtown in a mixed use developments are seldom driving unless they are driving to and from work.  They never use their car during the weekend as they have everything they need within a few floors from their condo.  Even if you're not living in a mixed-use development, but living in a condo downtown, you're going to reap the benefits and hopefully not contribute to the wealth in the Middle East.  Not to get poliitcal, but the majority of our oil comes from the Middle East.  If you don't wish to contribute to this, then I would suggest the following, move to a urban area where you don't need a car.  If you are in desparate transportation, by a bicycle.

Belize is quickly coming onto the radar screen of many North American’s minds and is establishing itself as a popular ecotourism destination. The country which until recently was part of British Honduras, enjoys English as the official language, a strong, stable democratic government and a dollar that is fixed 2 to 1 against the U.S dollar. Real Estate in Belize is also becoming more popular due to Belize being the most affordable real estate in all of the Caribbean and the beautiful, un-crowded beaches. In fact, nearly 70% of Belize is either designated as National Park or is undevelopable. New Condos Online is excited to be working with an exciting project located on the Placencia Peninsula in Southern Belize.

Palmetto Bay Resort at Maya Beach is nothing short of spectacular. With 16 miles of white sandy beach clashing with the extraordinary Mayan Mountains and lush tropical scenery, owners will be in heaven in their new residence. The first phase of the gated resort, which is currently under construction, will be comprised of only 36 whole ownership, contemporary beachfront condominiums ranging from approximately 1,100 to 4,500 square feet, each with unobstructed views of the Caribbean Sea and extensive outdoor living space. Prices will start in the high $200,000s USD. I recommend that you check out Palmetto Bay soon!

Check out the Belize new condo development for yourself!

There is a omnipresent energy that one can feel when they walk throught the city of New York. I am here in The City this weekend and I must say that every time I come here, I love it that much more! What's not to love about this place? (If you need an explanation, go research it on Yahoo cuz I'm not going into it). And the development here...wow! Everywhere I look, I can see a new condo building being erected. New York City condos are something that is on the mind not only of New Yorkers but also investors from around the world. You know the statement, when the US sneezes, the rest of the world catches a cold? Well, our condo market is sneezing right now but in fact, it's having the opposite effect. The US is getting a cold and we are getting sick. What is the remedy for this cold? The British, Irish, and most Europeans. Not to mention, the Asians, Latin Americans and our favorite neighbour, Canada! Builders who market themselves to other parts of the world are seeing a rise in sales. It's a no-brainer...kind of like internet advertising. It's a must these days. With the weak dollar, builder's must think creatively and start seeing the market place in broader terms. Builders need to start advertising more effectively and must think ahead of everyone else.

What? You can win in Vegas?  YES!!! Like when you catch a cold, you need to get worse before you get better - the same can be applied to the real estate market.  It is sick, in general, but if you buy in the right area at the right time, you may be buying at a time when the market is healing itself.  Too many metaphors?  Let me explain...buy now when the market is low so that you can get equity in your home and you can afford a mortgage payment.  Las Vegas condos are just beginning to get better.  Echelon at Centennial Hills is the perfect example.  This condo development is nothing short of amazing!  With units starting in the $300s, owning here is a no-brainer.  Units start at 1064 SF so you will have plenty of bang for your buck!  This development is a mid-rise development but these Las Vegas condos for sale will blow your hair back.  Equipped with walk in closets, gourment kitchen layouts, and computer alcoves, units here are not only spacious but the developer goes the extra mile to make sure that your living experience will be stress-free and enjoyable.  You are sure to win if you purchase at Echelon - in fact, I would double down and buy 2 units!  The market is going to turn around and when it does, you will be in the black and stoked on life!

So...the housing market isn't the best it has been in a while.  In fact, I would concede that it's rather gloomy.  However, not the entire market is suffering, but the majority is.  Some owners of condos and single family homes are starting to fret that they may have to foreclose rather soon.  This is not news.  This has been plastered over every single media outlet in the States and world actually.  Yes, this is a serious situation...but who is to blame for these conditions?  Aren't we, the consumers to blame?  Didn't we drive the prices up artificially based on speculation and expected future earnings?  We, the people weren't forced to buy a new condo for sale but we were lured into it because we thought it was a good and safe investment.  As we're learning now, for the majority of us, this wasn't a safe investment.  So, if this was our fault, why are we asking for the government to bail us out?  It's as if, this is a new phenomenon to us.  But it's not.  We saw this in the late 90s with the stock market.  The bubble burst and prices went down.  So, why are we whining as asking the government to help us out with our mistakes.  We must take responsibility for our actions and own up to our mistakes.  We are a country filled with luxury and seldom do we expect that anything wrong can go wrong in our lives.  And when it does, we cry to our government about how bad our situation is.  You know what, I'm tired of it.  I'm tired of hearing about your hardships.  Life throws you many curveballs and it's the people who have studied how to accurately hit that ball are the ones that will survive.  So, if you're thinking about borrowing a couple hundred thousand dollars from the bank, make sure you plan ahead and your swing is fluid and not even a curveball from The Rocke

The Blue Ridge Mountains are some of the most beautiful mountain ranges in not only North America but some say, the entire world.  Many different cities are lucky enough to be adjacent or right in the middle of this beautiful and majestic area.  Hendersonville, North Carolina is one of these lucky cities.  Hendersonville is one of the most beautiful places in all of North Carolina.  Attractions are abundant such as the Historic Downtown area which was named to the the National Registar of Historic places in 1988. With close proximity to DuPont State Forest and The Pisgah National Forest that consist of gorgeous and lush scenery, it's no wonder that many come to this area from far and wide to live and relax.  With this incredible community already here, it makes perfect sense for an incredible new condo development.  Plaza in the Mountains is a Hendersonville new condo development that offers luxury and tranquil living in an urban environment. Offering 1-3 bedrooms ranging from 979 sf - 1951 sf, there is a floor plan that will

After reading and perusing many real estate websites - many condo related, I am wondering how many different adjectives and verbs one can use to define our current real estate market.  Seriously - think about it.  I've seen words and phrases in headlines for real estate articles such as: shortage looms, slows, sank, decline, tumbled, worsened, worried.  You wonder if all these articles are the same.  So, if you read one, why would you read the others?   I mean, do authors use a generic word like, "bad" and use the thesaurus to find a word that will stick out pertaining to the real estate market?  If you don't know what I'm talking about, go to any real estate news website and see how many articles discuss the current housing market.  Most of them - like 95% - will explain how terrible our current housing market is.  If you were an author and wanted your article to stick out, I would suggest stating something extremely positive to help your article stand out.  For example, you entitle your article, "Housing market rises!"  Do you know how many people will read that article?  Or how about: "Condos for sale keep rising!"  You get the point.  So, if you're an author, and you want to get your point across and don't want to be lumped in with the rest of the articles, have your title stand out!

You know how if you manifest the idea in your mind, then it becomes a reality?  I am wondering how many people are manifesting our economy into a serious recession.  Are we really in a recession?  What constitutes a recession? If you listen to the news – and when I say news – I mean the real news – the BBC – not the biased and ridiculous outlets like Fox News and CNN – you’ll hear that many people question whether we’re in a recession.  The domestic news loves to run stories about how bad our economy is and how weak our dollar is.  So what if we are in a recession, let’s look at the positives – the Fed is lowering rates and recently just pumped $200 Billion into the Stock market.  With the Fed lowering rates, it is easier to afford, for example, a condo.  Yes, banks and other lenders are more stringent when it comes to loaning out money but if you have some extra cash and great credit, buying a condo for sale is a no-brainer!  You’ll get a great rate and with the housing slump recently, you’ll be able to negotiate a much better deal that what the developer is currently offering!  So – even if a recession is somewhat scary, look at the positives and see how you can personally benefit from this situation!

Condos for sale and homes for sale have not been a popular subject recently.  And you know who is hurting?  Not the sellers, not the agents who can't get the condo sold...but the sawdust industry.  That's right - the sawdust industry has been hurting...bad!  Did you know that sawdust is up 4x from $25/ton to $100/ton since 2006?  You may think to yourself - "who cares? It's just sawdust." But sawdust is one of those commodities that has many functions that you and I seldom hear about.  It is talked about as much as perhaps, the "flugelbinder" (anyone?) but has much more importance.  Sawdust is used for the following: mulch that is compressed into fire logs, insulation, energy production, and many other commercial uses that you nor I will give another second thought to.  But why is there a shortage you may ask?  Well, if you have been following the media recently, you may or may not have heard about the slowed housing sector.  Houses are made from wood which come from trees.  Less trees are being cut down to build less houses which translates to less sawdust.  Interesting - isn't it?  How do you feel about this?  Kind of a catch-22.  For me, I have mixed emotions.  Is sawdust pertinent for our economy?  Are there substitutes for saw dust?  Are scientists working on a sawdust substitute?  Who is really going to suffer from this sawdust shortage?  I'm open to a conversation...

The real estate market is not what it once was – shocking.  But as I have said before, there are still pockets of good investment opportunities.  Take Louisville, Kentucky for an example.

I was in Louisville, KY this weekend for some client relations.  Despite the cold and snowy, overcast weather, Louisville still appealed to me.  I was put up in my client’s loft – Mercantile Gallery Lofts – for the weekend.  If you haven’t checked out these Louisville condos for sale, you’re missing out.  These condos are spacious, luxurious and ahead of their time.  Louisville is an up and coming city and as Mayor Jerry Abramson notes in his airport welcome monologue, Louisville is America’s 16th largest city.  With that annual horse race – the Kentucky Derby – and the Ryder Cup in Louisville this year, I predict Louisville will slowly grow into a larger city.  (And that means that Mayor Abramson will have to re-film his airport welcoming speech!)

The Mercantile Lofts are gorgeous lofts and the word is getting out.  This past month, traffic and sales have both increased.  Real estate market woes?  Not here!  If you are a resident of or frequent/annual visitor to Louisville and/or simply want to enjoy life for a weekend, I would suggest looking into a Mercantile Loft as an option.

I like listening to some local news.  Today, as I was drinking my coffee on my way to work, the local news said that the percentage of first-time homebuyers who could afford a median priced home in San Diego rose 7% to from 24% to 31%.  Condos and homes both!  A quality median house runs just shy of $450,000.  To be more specific, $444,480.  Can you believe that?  That is the median price of a home in San Diego county!?!?  Gnarly!  How is this rise explicable? 

Costa Rica is one of the most beautiful places in the entire world.  How do I know this?  My amazing father once took me on a trip to the lush and tropical country and I fell in love instantly.  However, many people like me happened to experience the same type of emotions towards this country.  When I say many people – I’m talking about real estate developers who see economical gain in this country.  Costa Rica condos are sprouting up like zits on a young teenager and you have to wonder where this is heading.  Yes – these developments are gorgeous and the amenities that I have seen are first class however, you have to wonder if Costa Rica will become the next real estate bubble.  Investors with myopic views about this market will boast that this country is on the ups and investing here is a no-brainer.  But what happens when developers start to build in neighboring countries like Panama and Nicaragua.  Yes – developers have been building condos for sale here but not at the pace like that of Costa Rica.

It’s a sobering experience when a bank won’t give you a $5 million revolving line of credit to build a housing development in one of the worst states in the country right now for real estate.  I remember the good ol days – not too long ago when a developer could pay: a savvy architect to master up some blueprints, a creative mind to draw up some colorful sketch of a high-rise (with of course those fancy cars that haven’t been invented yet parked on or zooming down the street, to the skinniest people sipping their morning cup of Joe while the wearing all the latest fashion on a beautiful sunny day…but I digress) and voila – he could get all the financing (bridge, construction, and mezzanine – thanks NCO Capital) he could ever want. 

As our real estate market enters 2008, we can only wonder how low it can go. Let me rephrase. Reports indicate that on the whole, prices in certain cities are heading south and will continue to do so, this year.

Not all cities in our fine country are feeling the heat in the winter in regards to the condo market. Although reports indicate that there is no end in site for the condo market, some cities like Chicago, on the whole, are going strong. According to a recent study, roughly 5900 new condo and new townhome units will be entering the market in Chicago in 2008. That's a lot of new construction in a city...of any size. New condo developments like Spire, Trump Chicago, and the Mandarin won't be helping the median price of the new influx of product.

I find this number intriguing. Almost 6000 new places to live - that's a lot! Even though sales were much slower in 2006 and 2007 developers still are marching forward with new developments.

With a fear of recession, credit crunch, and the media frenzy regarding the worst housing market since the Depression, Chicago condos for sale are actually still slowly heading north. I can understand why. Chicago is one of the greatest cities in the entire country. Despite the blistering cold winters - Chicago is probably the only other place I would like to live.

I was in Phoenix yesterday on business with my esteemed colleague.  We were meeting with two devlopers on two different projects about their media options.  As many of you know, Americas Media Group opened up their West Coast office in San Diego so a quick trip to Phoenix is always accessible.  Our first meeting went extremely well and our second meeting went even better.  In a nutshell, we spoke with the developer and learned more about market conditions in Phoenix and even more about conditions of the Phoenix condo market than I had previously known.  On the whole, the entire market in Phoenix is not fairing too poorly.  After all, it's the 5th largest city in America.  Did you know that?  Did you know that Phoenix has 160 golf courses?  The developer was extremely passionate about his city and his project...as he should be.  Mosaic is one the most highly anticipated devlopments in all of Phoenix.  Buyers from all over the world will know about these Phoenix condos once all the media is placed in the appropriate publications and websites. 

Florida has not faired too well in this housing crisis.  Many cities are taking a hit as supply exceeds demand.  Tampa Bay has had some hard times in regards to the recent real estate market.  Channelside condos and others have filed for chapter 11 - a sign that is not healthy in this economy.  However, luxury product has not really taken as bad a hit.  One example is Sandpearl Residences. Located on the Gulf of Mexico on an immaculate beach and crystal blue water, homebuyers will drop their jaws when they look out of their condo.  With units starting at $970,000 these Tampa condos are attracting the luxury buyer - the buyer who is not worried about the housing crisis.  Sandpearl Residence defines luxury.  Nearly 10 foot ceilings, crown molding in the interiors, a stain resistant carpet, innovative floorplans and the choice of beautiful tiles are some of of the luxurious home amenities a homebuyer can expect from Sandpearl. 

The community is equally amazing: poolside fitness center with sauna and steam room, a lush tropical environment and a private storage locker in a storage room - these are some of the luxurious common amenities that can be found at SandPearl.  Tampa condos for sale are abundant but few can stand out as much as JMC Communities' Sandpearl Residence.  These condos are available now and with interest rates dropping, you can expect this development to sell out rather quickly. 

If you're an avid New Condos Online user, you would know that NCO has partnered with largest real estate media buying firm in the world...Americas Media Group. AMG Worldwide provides developers of new condos a service that is desparately needed right now in this market...national and international media exposure at a highly discounted rate. I'm not writing this blog as an advertisement or self-promotion but rather a tool for the developer of luxury condos around the world. The world is becoming flatter by the day and more international investors are prevelant. Currency is easier to exchange and banks are becoming more global.

If you're a condo developer, you need to really re-think how you market your community to the public, if you haven't already. You may think that adveritising in the local newspaper is the best way to sell your project but honestly...with the days of the internet, you need to start thinking on more of a global scale. Yes, 20 years ago, you could put up a sign in the front yard and maybe an ad in the paper and expect a ton of calls and leads. Now, it's a much different ballgame.

We've seen the globalization trend before and now, more than ever the condo market is a global market. There are good condo markets and there are bad condo markets. But now, a good market could be the Canada condo market and Costa Rica condo market. Developers need to stop with the myopic views and look at the macro picture.

In the movie, Airplane, the airplane is certain to crash and in the control tower the newspaper are being passed around with dire headlines.  Three characters: Kramer, McCroskey, and Johnny all cite a headline. 

Kramer: "...passengers certain to die!" McCroskey: "...airline negligent." Johnny: "There's a sale at Penny's!" 

That scene always cracks me up.  In the wake of a catastrophe, there is humor to be found. 

Listening to all the positive news about the stock markets the last few days...I mean utterly negative and depressing news...I can't help but wonder why we don't take a step back from under the microscope and look at the bigger picture and shed some light on this predicament.  I mean, if anyone had an ounce of education about real estate or finance, then they would know that both of these industries go in swings...like a pendulum.  There are good years and then there are bad years.  When it's good, it's great and when it's bad - it's really depressing. 

The same notion can be applied to the condo market.  Condo markets in some areas (I will not classify the entire US Condo market in this blog as that would not be a fair assessment) of the US are struggling - there is no doubt.  But this is to be expected with Supply exceeds demand.  What good does it do to keep reporting on the foreclosures and the bankrupt developers? Does this boost US morale?  No - it doesn't.  Does this enable the US to think that we're headed into a recession?  Most likely.  

It is Ol Blue Eye's favorite city, a place where Ferris sang "Twist and Shout", home to the World Fair back in the late 1800's, and quite chilly in the winter.  Yes, Chicago is one of the best cities in the country.  Why is it so grand?  Well, it has some of the best jazz, steaks and architecture in the entire country.  Don't believe me?  Fly or drive there and you'll come to the same conclusion.  I have been to Chi-town recently and the new Chicago condo developments are quite breathtaking. 

I am always curious to know about new developments going up in a city and today, I read some startling news.  The Spire, which is slated for completion in 2011, is poised to be the largest residential development in the world...standing tall at roughly 2,000 feet.  Sales for the Chicago condos went on sale a couple days ago and I'm sure many buyers are going to dig deep and fork up a pretty penny to own in this amazing development.  The marketing gurus are taking this on a 15 city tour across the globe - hitting up all continents.  

The amazing thing about these condos is that no two condos will be alike!  The building is supposed to have 1,194 units ranging from 534 sf to 10,309 sf (2 floor penthouse).  Prices will remain moderate - especially for the 2 floor penthouse which is only $40,000,000.00.  That's a lot of zeroes.  Also, this development will be LEED Certified.  I am going to keep a close eye on this project and am hoping for the best!

Bugsy Siegel was a visionary. Despite his habit of mafioso type behaviour, many people revered him.  However, I don't think Bugsy would believe what is happening now to the once open piece of desert land in south Nevada.  Las Vegas condos are going up in huge proportions.  Yes, for some, the market is at a lull and there have been projects that have not gone forward but I still cannot believe the immense Las Vegas condo developments sprouting up. 

I frequent Las Vegas roughly five to seven times per year and each time more construction cranes seem to be filling up the Strip.  (I was just in Sin City last weekend for the consumer electronics convention and some other award show at the Mandalay Bay).  I was driving down the strip on Saturday and some Las Vegas condos like Vdara (once completed) will redefine the luxury condo/hotel business. 

However, I began to wonder if the demand will meet the supply in the coming years.  There are roughly 30,000 new rooms slated to be delivered in the next few years and with our market facing a downturn, I wonder if a trip Las Vegas will be very high on the agenda for many people. I mean, Las Vegas is a town that caters to your every vice and most of these vices require excess or disposable money.  With a possible recession in the future, I doubt many people will have disposable income.  Also, with the development on Macau in Asia, this takes away from many Asian tourists visiting Las Vegas.