Las Vegas Real Estate News

Prospective buyers eye land bargains

Prospective buyers eye land bargains

The new-home market may be in the tank in Las Vegas, but that hasn’t stopped builders and investment groups from eyeing finished lots and other developable land at bargain-basement prices.

30 October 2009
By Buck Wargo

Banks may be seeing the light on short sales

Although some national analysts are forecasting more doom and gloom for home prices in Las Vegas because of foreclosures, a local analyst is skeptical of their dire predictions.

30 October 2009
By Buck Wargo

Q&A: Frank Gatski

Frank Gatski, chairman and CEO of Gatski Commercial Real Estate Services, expects his increased emphasis on leasing to make the company stronger.

It’s an industry under assault, and Frank Gatski is right in the middle of it.

30 October 2009
By Buck Wargo

Experts say economy crushing Las Vegas real estate market

CityCenter, which begins to open in December, will employ about 12,000 people.

The sagging economy will weigh on the Las Vegas real estate market and boost foreclosures on residential and commercial properties, according to a panel of local business executives. The group, composed of a lender, a bankruptcy attorney and a consultant, said the Las Vegas recovery will lag not only the nation but competing markets such as Phoenix.

30 October 2009
By Buck Wargo

Vegas foreclosure filings up nearly 9 percent in quarter

Another report on residential mortgage foreclosures is out, this one largely confirming grim statistics for Nevada. Numbers show Las Vegas leading the nation in foreclosure filings with one in every 20 housing units receiving a filing in the quarter.

28 October 2009
By Steve Green

S&P: Rate of home price decline eases in Las Vegas

Las Vegas posted a decline in home prices in August as measured by the widely-followed S&P/Case-Shiller Home Price Indices. The debt rating company Standard & Poor's today issued the report, showing that from July to August prices rose in 17 of 20 cities it follows. The exceptions were Las Vegas, down 0.3 percent, as well as Charlotte and Cleveland.

27 October 2009
By Steve Green

Percentage of valley residences in foreclosure

Percentage of residences, including condo units and townhomes, for which an auction notice was received or that were repossessed, Sept. 1 to Oct. 25.

27 October 2009
By Chris Morris,
Alex Richards

Creditor tries to foreclose on real estate company's land

A second creditor is seeking to foreclose on land held by Leading Investments Inc., a Las Vegas real estate development company that was forced into bankruptcy liquidation this year.

23 October 2009
By Steve Green

Where is housing market headed? Nowhere, Realtor says

Everyone is looking for insight into where the housing market is headed — will it improve or will it worsen?

23 October 2009
By Buck Wargo

Housing sales, prices steady

If statistics are a gauge, the Las Vegas housing market is holding steady and the worst of the recession may be in the rearview mirror.

23 October 2009
By Buck Wargo

Fraud could undermine housing tax credit

Home prices in Southern Nevada are less than half what they were during their 2006 peak.

Nevadans have responded to the government’s offer of up to $8,000 in first-time homebuyer tax credits with gusto, filing more claims and receiving more in tax breaks per capita than anywhere else in the nation. Nevadans have claimed $146 million in tax breaks from the credit. But according to new federal reports released Thursday, the program nationwide is littered with potential fraud, threatening its future.

23 October 2009
By J. Patrick Coolican,
Lisa Mascaro

Reports: Home prices to continue slide through next year

Two homes are shown for sale in the southern Las Vegas Valley.

Las Vegas-area home prices are likely to fall further as local foreclosure activity shows no sign of slowing down, two reports said this week. The Wall Street Journal today reported on its quarterly survey of housing-market data in Las Vegas and 27 other major areas. The report found sharp declines in the number of homes listed for sale around the nation as government programs tried to help delinquent mortgage borrowers keep their homes.

22 October 2009
By Steve Green

Mortgage scammers haven’t felt law’s effect

Compliance with a new law aimed at regulating mortgage modification and foreclosure prevention, a runaway industry rife with scammers, is off to a slow start, causing concern for those on the front lines.

20 October 2009
By Timothy Pratt

Tuscany ready for change after Jim Rhodes' departure

Empty lots are a common site in Tuscany, where home sales and construction have been slowed by Nevada's dismal economy. Residents of the Henderson development say the problems have been exacerbated by Jim Rhodes, who they accuse of mismanaging their homeowners association.

A September announcement that developer Jim Rhodes will be walking away from the Tuscany development in Henderson is coming as welcome news to residents, who say Rhodes has done a poor job managing the project’s beleaguered homeowners association. In a statement from Rhodes Homes, the company said it has a history of working to provide dedicated management for Tuscany.

19 October 2009
By Jeremy Twitchell

Trial delayed a year for couple accused in mortgage scam

A year-long delay has been granted for the trial of a couple accused of orchestrating a massive residential real estate and mortgage scam in Las Vegas. Eve Mazzarella and her husband, Steven Grimm, were indicted in March 2008.

16 October 2009
By Steve Green
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