Las Vegas Real Estate News

Nevada records nation's highest foreclosure rate in 2009

More than 10 percent of Nevada’s homes received at least one foreclosure filing in 2009, keeping the state in its No. 1 ranking for the nation for the third consecutive year, according to statistics released by a foreclosure-tracking firm.

13 January 2010
By Buck Wargo

Program helps woman realize dream of home ownership

Henderson Mayor Andy Hafen presents homeowner Emma Hurtado with a key to the City of Henderson at a gathering Friday in front of Nevada's first rehabilitated foreclosed home.

Emma Hurtado added two new keys to her key chain Friday — one to her newly purchased house and one to the city of Henderson. “It’s a dream come true,” she said while holding the golden key to the city and looking at her new home on Jackson Drive.

9 January 2010
By Tiffany Gibson

Home sales up 64 percent last year in Las Vegas

The Southern Nevada housing market showed signs of recovery in 2009 by recording the second-highest number of home sales in the region’s history. The 46,879 sales of single-family homes, condos and townhomes tops 28,618 in 2008.

8 January 2010
By Buck Wargo

Q&A: Brad Schnepf

Marnell Properties President Brad Schnepf says employment growth will signal the rebound of Southern Nevada's real estate market.

Sometimes what you do in life is in your genes, Brad Schnepf says.

8 January 2010
By Buck Wargo

Condo woes link LV, Miami

Simply blame it on Miami. That was the essence of a Miami Herald article last week comparing the overbuilt South Florida and Las Vegas condominium markets and trying to ascertain which will recover first.

8 January 2010
By Buck Wargo

Lawsuit filed against bank over lending practices

A lawsuit seeking class-action status was filed Sunday in behalf of homeowners, property owners and investors against Credit Suisse AG, claiming the bank engaged in predatory lending practices at Lake Las Vegas and other resort developments during the boom years of the 2000s.

4 January 2010
By Steve Green

They foreclosed on the wrong house

All her possessions gone, Nilly Mauck says she will miss the personal things, photographs and her father's military records, the most.

A Las Vegas woman whose condo was mistakenly emptied in a bungled foreclosure action could be the first person to benefit from a new state law. Part-time photographer Nilly Mauck, a 31-year-old student at the College of Southern Nevada, had left Las Vegas in mid-December for a snowboarding trip to Utah and returned to stay with a friend for a few days when she received a disturbing phone call. Something was amiss at the Coronado Palms condominium on Badura Avenue that she had owned for the past two years.

2 January 2010
By Steve Kanigher

Rust Belt, Las Vegas comparison premature — even with gaming in peril

Las Vegas may have more in common with Pittsburgh and Detroit than many people realize, says Mary Riddel, a UNLV economist and the interim director of the Center for Business and Economic Research.

1 January 2010
By Buck Wargo

Demanding rent, Bank of America sues for control of shopping center

Village Square: Embattled 238,000-square-foot property on Sahara Avenue and Fort Apache Road has a $59.7 million mortgage loan.

Investors moved Dec. 17 to seize control of Village Square, a Las Vegas shopping center, charging its owner has failed to turn over rent to the investors as required.

1 January 2010
By Steve Green

Growth of distressed commercial properties slows, hits $17.6 billion

The number of commercial properties in distress in the Las Vegas area grew in the fourth quarter — but at a slower pace.

1 January 2010
By Buck Wargo

New-home prices drop as number of sales rises

The median price of new homes sold in November in the Las Vegas area dropped under $200,000 for the first time in six years and builders sold the largest number this year, a local research firm reported.

1 January 2010
By Buck Wargo

Las Vegas firms learning from recession

Having endured the brutal economic downturn of 2009, Las Vegas businesses have learned a thing or two from the continuing recession.

1 January 2010
By Buck Wargo

Retail vacancy rate dips for first time in 3 years

The vacancy rate for office and industrial buildings rose in the fourth quarter, but the retail market halted its slide for the first time in three years, according to a report released this week by CB Richard Ellis.

31 December 2009
By Buck Wargo

Report: Vegas housing market shows no 'glimmer of hope'

Housing prices have tumbled across the Las Vegas Valley during the recession as foreclosures have spiked.

Las Vegas-area home prices continued to fall through October and among big U.S. cities, Las Vegas "remains the one market that has not seen a glimmer of hope so far this year." That's according to the closely-followed Standard & Poor's/Case-Shiller Home Price Indices, which were issued today and found that nationwide, the annual rate of decline in home prices improved compared to the September report.

29 December 2009
By Steve Green

Steve Bottfeld: Builders will change strategy as supply of land dwindles

I think you are going to see major changes in Las Vegas over the next decade. Our concept of what the suburbs are is going to change dramatically. The limited supply of land will dictate that by 2020. We are an island, and it is surrounded by Bureau of Land Management and Native American land. There is little place to expand.

27 December 2009
Steve Bottfeld
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