Las Vegas Real Estate News

Regulators seize Corus Bank, plan sale of Vegas projects

Corus Bank, known as the nation's poster child for aggressive condominium development lending during the economic boom, was closed and seized by regulators Friday due to mounting losses.

12 September 2009
By Steve Green

How much will CityCenter slash its condo prices?

CityCenter, by the end of September, is expected to announce how much it will cut condominium prices, but one gaming research group says co-owner MGM Mirage will have success trimming those prices about 30 percent.

11 September 2009
By Buck Wargo

Q&A: Bob Hamrick, broker of CityCenter and CEO of Coldwell Banker Premier Realty

Selling CityCenter: Bob Hamrick, a broker at CityCenter and the CEO of Coldwell Banker Premier Realty in Las Vegas, is shown in the CityCenter sales office.

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

11 September 2009
By Buck Wargo

Brokers battered because business besieged

Recent sale: A commercial building project is shown near South Buffalo Drive and Interstate 215. The complex was recently sold.

The commercial real estate slump is taking a toll on brokerages whose revenue has dipped sharply because of the steep decline in sales and lease rates.

11 September 2009
By Buck Wargo

Vegas home sales slip as prices continue fall

The red-hot Las Vegas housing market cooled off a bit in August as home and condo sales dropped and prices edged lower. The 3,229 sales of single-family homes in August were 14 percent less than July when 3,738 homes sold.

10 September 2009
By Buck Wargo

Foreclosures fall, but Las Vegas still leads nation

Residential foreclosure activity declined last month in Nevada and Las Vegas -- but these markets continued to lead the nation in RealtyTrac's foreclosure lists. Reno joined Las Vegas on the list of the 10 U.S. cities.

10 September 2009
By Steve Green

Time article riles Realtors

A Las Vegas real estate agent featured prominently in Time magazine has come under fire from members of her profession and has generated unease in the real estate community about the public’s perception of agents.

4 September 2009
By Buck Wargo

Foreclosure sales rule market, key to recovery

A Las Vegas home is shown for sale on July 27. Southern Nevada has seen a recent influx of investors seeking existing homes.

Investors and first-time buyers dominate home purchases in Las Vegas, and their investments will be key to burning foreclosure inventory, a research company reported. Almost 70 percent of the area homes and condos sold in July were foreclosure sales, meaning those homes had been foreclosed in the past 12 months, said Andrew LePage, a spokesman for MDA DataQuick, a San Diego research firm. July’s percentage of foreclosure sales was the same as June, but up from 62.5 percent in July 2008.

4 September 2009
By Buck Wargo

Homebuilders seek a little help from their government

A carpenter frames a home under construction in Henderson in this 2009 file photo.

The turnaround in sales of existing homes has spurred hope that Las Vegas’ housing market is recovering, but local homebuilders remain on the outside looking in and are calling on the federal government for help.

29 August 2009
By Buck Wargo

Foreclosure mediators appointed to oversee program

The Nevada Supreme Court announced Aug. 24 the appointment of 97 mediators who will work with lenders and homeowners trying to stave off foreclosure.

28 August 2009
By Buck Wargo

Buyer beware

Some attorneys are facing criticism over their role in a mediation program to help ease the state’s foreclosure crisis.

28 August 2009

Existing-home sales remain healthy

Demand in July for Las Vegas homes was strong with buyers snatching up the most since September 2005 amid the housing boom. Las Vegas-based SalesTraq reported 4,675 existing homes sold in July, 12 more than June.

28 August 2009
By Buck Wargo

Lenders quicker to repossess undeveloped land

Lenders have been patient when it comes to repossessing commercial buildings, but they are picking up the pace in taking back undeveloped land.

28 August 2009
By Buck Wargo

Agency gets authority to set fines for bilked homeowners

CARSON CITY – Nevada's high home foreclosure rate has resulted in a lot of homeowners being bilked. People who pass themselves off as consultants promise the homeowner that in exchange for a fee of $3,000 or $4,000 they will save their home or get them a lower interest rate, but never deliver.

27 August 2009
By Cy Ryan

Unflattering Time magazine story puts agent in hot water

A Las Vegas real estate agent who landed a prominent role in a Time magazine cover story is being scrutinized by state licensing officials because of her comments, has left her employer and is lying low. The story by Joel Stein in the Aug. 24 issue, “Less Vegas,” is a high-spirited and high-altitude view of the troubles facing Las Vegas, which he calls both “our most American city” and “an entire city of John Dillingers.” In the story, Brooke Boemio — “a bouncy, sweet, recently remarried 31-year-old mom” — is cast as one of the Dillingers.

26 August 2009
By Brendan Buhler
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