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Las Vegas Real Estate
Las Vegas Sun Stories: Real Estate in Crisis
Updated: 10 hours 40 min ago
Richmond American, local executive sever relationship
The builder poised to take over the No. 1 ranking in home sales in Las Vegas by the end of the year has parted ways with its division president.
Walking away from a mortgage comes with risks
The news is bad enough that three homeowners out of four in the Las Vegas Valley owe more on their houses than they’re worth. And there’s no comfort in the prediction that the local real estate market won’t recover for years.
Plan for 238 new homes in Mountain's Edge advances
Despite dropping sales since 2008, developers still are planning new projects in Mountain’s Edge. Lennar Homes received preliminary approval for a 238-unit single-family home community.
20-city index shows Las Vegas alone in home price decline
Las Vegas-area home prices fell again in June as high unemployment and foreclosures continued to dampen the market. Debt-rating agency Standard & Poor's today issued its monthly S&P/Case-Shiller Home Price Indices, and they once again show the Southern Nevada real estate market continues to lag the national market.
3 indicted in alleged foreclosure rescue scam
Three people were indicted on multiple felony charges Monday for allegedly operating a foreclosure rescue scam in Las Vegas during 2008 and 2009, according to the Attorney General's Office.
One shopping center is in foreclosure, second expands
One shopping center on Las Vegas Boulevard faces foreclosure, while another is moving ahead with expansion during the recession.
Rate of foreclosures declines in Nevada
The delinquency rate for mortgage loans in Nevada fell in the second quarter and the percentage of loans in which foreclosures were started declined as well, according to a report released today by the Mortgage Bankers Association.
Construction dip, unemployment hurt extended-stay motels
The downturn in the construction industry and high unemployment that deter people from moving to Las Vegas have taken a toll on the extended-stay motel business. Occupancy has fallen sharply since the recession began, and room rates have been lowered to lure visitors.
Mortgage rescue scam operator sentenced in Las Vegas
The operator of a mortgage rescue scam run from the Philippines was sentenced Tuesday in Las Vegas and will be required to pay partial restitution to his victims.
Construction industry is no fan of federal stimulus
Don’t list the Las Vegas construction industry as one of the big fans of the $787 billion federal stimulus.
AG announces campaign to fight foreclosure scams
Nevada’s foreclosure pandemic has attracted a slew of scam artists hoping to take advantage of homeowners desperate to avoid losing their homes. In response, officials announced a public awareness campaign to help citizens spot fraud.
Sales of new homes slide, homebuilder confidence shaken
Sales in the Las Vegas new-home market tumbled in July in a sign the expiration of a federal tax credit could hamper the industry the rest of the year. SalesTraq reported this morning that the 408 closings of new homes in July represents a 58 percent decline from June, when 983 closings were reported.
Lied Institute panel to study education’s effect on economy
The Lied Institute for Real Estate Studies has selected education and how it relates to the Southern Nevada economy as its topic for its 2010 round-table discussion.
Foreclosures down, but Nevada still ranks No. 1
Nevada kept its No. 1 national ranking for foreclosure filings for the 43rd consecutive month, but the state and Las Vegas are faring better than a year ago, according to report released late Wednesday.
New communities falling short of their master plans
When retiree Peter Bernasconi left New York for Las Vegas, he was drawn to Mountain’s Edge, a master-planned community in the southwest valley that promised a swath of parks and a well-plotted system of roadways.
Home sales, prices fall in Las Vegas in July
The expiration of the federal tax credit to purchase a home has put a damper on the Southern Nevada housing market. The Greater Las Vegas Association of Realtors reported closings of homes in July fell 12 percent from June and were down 21 percent from July 2009.
Economist: Las Vegas home prices to go up slightly in ’11
An economist says Las Vegas could see healthy home-price appreciation in the next five years.
Analysts disagree on falling house prices
Analysts agree that Las Vegas home prices will keep falling, but disagree on how much.
Zoning board OKs changes to Mountain’s Edge park plans
Construction on a 20-acre park at Mountain’s Edge, a master-planned community in the southwest valley, is set to begin within 90 days following the Clark County zoning board’s approval Wednesday of an amended agreement between the county and the developer.
Fewer existing LV homes sell in May, June than in 2009
Sales of existing homes in Las Vegas ended a two-year run of year-to-year increases in May.
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