Las Vegas Real Estate News

Realtors: Tax credit extension will boost market

Homebuilders and Realtors are counting an extension and expansion of a homebuyer tax credit to boost to the housing market through mid-2010.

Foreclosure rate falls, but Nevada keeps top spot in nation

The foreclosure rate in Nevada fell 26 percent in October, but the state remained No. 1 in the nation, according to RealtyTrac, a firm that tracks foreclosures nationwide. Nevada had 13,842 foreclosure filings, down 26 percent from September.

Las Vegas home prices, sales rise in October

After a two-month dip, home sales rebounded in October and prices continued to hold steady, according to statistics released this morning by the Greater Las Vegas Association of Realtors.

Cities, county find buying valley homes isn’t easy

Eve Barrozo’s street is one of only five in the valley where the county has purchased houses under an 8-month-old program aimed at “stabilizing” neighborhoods.

Home-price projections vary for LV’s ‘basket case’ market

What’s going to happen to Las Vegas home prices over the next year? It depends on whom you ask.

Slump spurs demand for green building product

Todd Johnson, left, and Bill Montano, employees of Kama Energy Efficient Building Systems, assemble a prefabricated building section at the company on Oct. 6.

The recession isn’t slowing down Ken Miller, an energy-conscious entrepreneur who has developed prefabricated walls he says cut down energy use by 30 percent.

Commercial building headed for standstill

This 101,550-square-foot retail development at Green Valley Parkway and Horizon Ridge Parkway is one of nine large commercial projects that Applied Analysis says is under construction.

The construction crane only a few years ago was jokingly called the state bird of Nevada, but that era of growth has passed and by the second quarter of 2010 commercial construction in Las Vegas will come to a virtual halt, according to local analysts.

Report paints gloomy picture of Las Vegas commercial real estate

When it comes to optimism about commercial real estate, Las Vegas received an unsurprising negative mention in a national report issued Thursday by the Urban Land Institute and accounting firm PricewaterhouseCoopers LLP. The institute and accounting firm issued their Emerging Trends in Real Estate 2010 report, based on interviews and surveys involving some 700 industry professionals around the country.

SunCal buys home lots after Kimball Hill liquidation

Land acquisitions of home lots by builders, developers and investment groups continue to pick up. SunCal Companies has purchased the lots formerly owned by Kimball Hill Homes as part of its liquidation.

State identifies companies authorized to modify loans

The Nevada Division of Mortgage Lending today released a list of 28 companies authorized to work with consumers in modifying home loans. On Monday, the agency said it was canceling the authorization to work for about 30 loan modification companies that failed to obtain a minimum $75,000 surety bond.

Banks seeing advantages of home short sales


A predicted new wave of foreclosures may not arrive if lenders turn to short sales, which will require them to retrain loss mitigation workers.

A prominent real estate analyst says banks are showing more interest in working with financially pinched homeowners in the sales of their “underwater” homes by agreeing to take some of the hit themselves.

Not much to celebrate this Nevada Day

Not much to celebrate this Nevada Day

It’s another miserable birthday for Nevada. As the state marks its 145th year of statehood this Nevada Day, residents can reflect on the wreckage of the past 12 months. An unprecedented number of Nevadans lost their jobs, lost their houses and turned to a struggling government for help. Generally, the state felt like it was going nowhere fast. On Nevada Day 2008, leaders statewide in politics, economics and culture surveyed by the Sun acknowledged the state was struggling. But none predicted how far we would fall.

Office vacancies soar in third quarter

The vacancy rate for high-end office space jumped to 25 percent in the third quarter, prompting landlords to steeply cut rents.

Industrial building market may ‘slow to near standstill’

Industrial buildings’ rents fell sharply in the third quarter and the trend shows no sign of slowing as demand is weak, analysts said.

Valley job losses driving apartment vacancies

A real estate research and investment firm predicts apartment vacancies will rise into 2010.