Las Vegas Real Estate News

Report: Investors buying up Las Vegas foreclosure homes

A foreclosed home is shown in the Silverado neighborhood of Las Vegas.

Investors made their biggest push yet to buy foreclosure homes in Las Vegas. San Diego-based MDA DataQuick, a real estate information service, reported investors bought 41.2 percent of Las Vegas area homes in October, the highest amount for any month this decade.

2 December 2009
By Buck Wargo

Harry Reid on mortgages: 'Bank of America must do more'

WASHINGTON -- Harry Reid pointedly criticized Bank of America today for not doing enough to help Nevada homeowners during the mortgage crisis, warning that the company must bring more resources to the state or face public scrutiny.

1 December 2009
By Lisa Mascaro

Drop in median price per square foot in valley homes

The map below shows the drop in median sale price per square foot of living space in Las Vegas Valley ZIP codes for single-family homes, comparing September, October and November 2008 with the same months in 2009.

1 December 2009

Report: Nearly 70 percent of LV homeowners underwater on mortgage

A new report shows 69.5 percent of homeowners in Las Vegas are underwater on their mortgages. That compares with about 23 percent of homeowners nationwide. A Henderson neighborhood is shown here.

Homeowners in the Las Vegas area continue to be punished by dropping prices, with the number underwater in their mortgages surpassing 319,000 or 69.5 percent. That's according to First American CoreLogic, which last week issued negative equity numbers for home mortgages and home equity lines of credit. The company found that in September, 23 percent of residential properties nationwide with mortgages were in negative equity.

30 November 2009
By Steve Green

CityCenter completion might spur home foreclosures

Although some are touting CityCenter’s opening as a boon to the local economy, a mortgage expert says it will also signal the beginning of another wave of home foreclosures.

27 November 2009
By Buck Wargo

Real estate experts cautiously optimistic about market

On the market: Homes are shown for sale in Sun City Anthem.

Several real estate, financing and gaming executives recently gave a sober assessment of Las Vegas’ economy, but they are optimistic about the future.

27 November 2009
By Buck Wargo

Default in decline, a foreclosures snapshot

Percentage of residences, including condo units and town homes, that had a default filed with the county between Oct. 1 and Nov. 19. This is commonly the first step of the foreclosure process.

25 November 2009
By Chris Morris,
Alex Richards

Campaign aimed at preventing foreclosure fraud

State and federal officials gathered Tuesday to announce a foreclosure education campaign in Nevada called Stop Foreclosure Fraud. The campaign, put on by the Nevada Foreclosure Prevention Taskforce, is meant to educate people about foreclosure fraud and mortgage scams.

24 November 2009
By Erin Dostal

Report: LV home prices fall despite increases nationwide

Las Vegas remains the nation's most depressed big housing market as tracked by the influential S&P/Case-Shiller Home Price Indices, with prices in the gaming capital falling for the 37th consecutive month through September.

24 November 2009
By Steve Green

It’s the loan-to-value ratio, stupid!

With apologies to James Carville for corrupting his famous and prescient 1992 presidential campaign battle cry, I think it’s important to discuss what some real estate experts think triggered the residential property debacle.

20 November 2009
Robert Aalberts

Las Vegas condo hotels remain a tough sell — just ask Trump

Sales in the local high-rise market rose 7 percentage points in the third quarter, but closings at the Trump International have been essentially nonexistent, according to the latest report by a Las Vegas research firm.

20 November 2009
By Buck Wargo

Foreclosures fuel land bargains for investors

Foreclosure sales are dominating the raw land market and suppressing prices, but they are creating bargains for investors, analysts said.

20 November 2009
By Buck Wargo

Mediation is reducing foreclosures

Nevada’s new foreclosure mediation program is paying dividends already.

20 November 2009
By Buck Wargo

Law firm sues state over mortgage modification licensing

A law firm active in Henderson and Las Vegas is suing the state over rules requiring licensing of non-attorney employees working on mortgage loan modifications.

16 November 2009
By Steve Green

CityCenter Realtors hit with cut in commissions

CityCenter in October 2009.

The 30 percent drop in condo prices at CityCenter is going to cost Realtors in commissions.

13 November 2009
By Buck Wargo
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