Las Vegas Real Estate News

S&P: Las Vegas home prices down 31.4 percent

Home prices appear to have stabilized in the Las Vegas Valley in recent months.

The foreclosure-heavy Las Vegas housing market led the nation in price declines in July in a widely-watched report issued today covering 20 big-city markets. New York debt-rating company Standard & Poor's issued its S&P/Case-Shiller Home Price Indices. The report found prices in the 20 cities declined 13.3 percent in July compared to July 2008; and that overall they rose 1.6 percent from June to July.

Percentage of valley homes in foreclosure

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

Report: Vegas tops list of cities where home prices at bottom

The end could be in sight for the housing recession in Las Vegas and across the country. That's according to Forbes magazine, which earlier this month ranked the valley's housing market No. 1 in the country in a list of cities where home prices likely have hit bottom.

Pardee scores high in J.D. Power survey

Pardee Homes ranked No. 1 in customer satisfaction and new-home quality in Las Vegas. Homebuilders increased their scores overall from 2008, according to the annual J.D. Power and Associates survey.

Homebuilders appear more bullish on LV

As bad as the home construction industry has been in Las Vegas, local builders rate what is happening here as better than other places across the country and are more optimistic about the next six months than their brethren nationwide.

Demand for existing homes decreases

The demand for existing homes dipped in August and prices fell to their lowest point of the year, according to statistics released Sept 22.

Silver lining seen in declining commercial real estate prices

Short-term pessimism and long-term optimism sum up the mood about Las Vegas’ commercial real estate.

Housing scam artists staying on the move

Housing scam artists staying on the move

John Kelleher’s professional life is beginning to feel cyclical, like the seasons. Nevada Attorney General Catherine Cortez Masto asked Kelleher, a chief deputy, to head a mortgage fraud task force in early 2007. With so many shady real estate players and dicey mortgages, the new task force kept him busy. Then the foreclosure wave started, and the task force shifted its focus to scam artists falsely promising to keep Nevadans in their homes for a steep fee. Then the fraudsters began offering phony loan modification services, so Kelleher went after them, too.

Homebuyers, union allege deception by builders

A group of 18 homebuyers and the Laborers International Union of North America charged Thursday in Las Vegas that Pulte Homes Corp. and other builders harmed buyers during the housing boom by inducing them into purchasing homes at inflated values and with unaffordable mortgages.

Help may bring another bubble

Help may bring another bubble

No doubt, a big tax break for first-time homebuyers is good politics. Although the politics are a surefire winner, especially here in Nevada, some economists across the political spectrum question whether the $8,000 tax credit is good policy.

Developer reaches settlements over bankruptcy plans

The developer of the Park Highlands planned community in North Las Vegas has reached settlements with two parties that had objected to its plan to exit from bankruptcy.

Lenders foreclose on Tropicana Avenue strip mall

In this June 2008 file photo, about half the storefronts in Tropicana Center, a big strip mall, were vacant and shop owners said leases were not being renewed. Now, lenders are foreclosing on the strip mall and seeking appointment of a receiver to run it until the property is sold at auction.

A big Tropicana Avenue shopping center is among the latest casualties in Southern Nevada's commercial real estate slowdown. Lenders are foreclosing on the Tropicana Center and the adjacent Pecos Plaza and are seeking appointment of a receiver to run the strip mall until the property is sold at auction.

Home sales stay hot, but cool a bit

The Las Vegas housing market slowed down in August, but demand remains strong compared with a year ago.

Residents seek help in dealing with falling home values

A town hall forum put on Monday by local elected officials was a humble beginning for something they hope will become much bigger.

Bob Hamrick, CEO of Coldwell Banker Premier Realty, CityCenter broker


Bob Hamrick, who has spent his entire career in real estate, says he doesn't expect home prices to increase until the employment picture significantly improves.

Not many people find their career path in high school and jump right into it. Bob Hamrick did.