Las Vegas Real Estate News

Report: Vegas, Detroit show weakness as home prices rise nationally

The new Case-Shiller Home Price Indices issued Tuesday show the Las Vegas real estate market continues to underperform the national market. Home prices overall rose in June in 20 big-city markets covered by the report, except in Las Vegas and Detroit.

25 August 2009
By Steve Green

Recent foreclosures: Auction notices on homes

Percentage of single-family homes for which an auction notice was received or that were repossessed, July 1 to Aug. 21.

25 August 2009
By Chris Morris,
Alex Richards

Mesquite: Feeling pain from Vegas, getting down to business

The Oasis Golf Club is one of six golf courses in Mesquite. Another golf course is set to open soon.

The parking lot of the Oasis Resort Hotel & Casino is empty, heat blasting off it, mocking the name of the now shuttered hotel. The go-cart track is silent and the pool closed, its deck chairs stacked, giving the place the feel of a wintry Rust Belt amusement park. For small communities in Southern Nevada like this town on the Arizona border, the troubles in Las Vegas are a contagion.

23 August 2009
By J. Patrick Coolican

Analyst: LV keeps spot at top of list of distressed properties

The number of commercial properties facing foreclosure tapered off over the summer, but that hasn’t prevented Las Vegas from holding onto its No. 1 ranking for distressed buildings and development.

21 August 2009
By Buck Wargo

Mediation law may have slowed default notices

Nevada set a record in July for foreclosures, but the number in the pipeline is slowing because of a new state law.

21 August 2009
By Buck Wargo

Lawyers' role in foreclosure mediations sparks debate

The Nevada legal community is getting behind a new mediation program designed to reduce the state’s ongoing foreclosure problem, but some attorneys are facing criticism for trying to profit from it.

21 August 2009
By Buck Wargo

Jewelry hub won’t adorn Symphony Park soon

Plans to build a key world jewelry industry hub in downtown’s Symphony Park will take years longer than originally planned.

19 August 2009
By Sam Skolnik

Report: Number of past-due mortgages likely to increase

Nevada led the nation in mortgage delinquency in the second quarter of 2009, at the height of the Great Recession. Increasing unemployment rates and falling home values, such as in this Henderson neighborhood, put a pinch on Nevadans.

Nevada's beleaguered residential real estate market is expected to deteriorate through the end of the year, a credit-rating agency forecast Monday. TransUnion.com said Nevada led the nation's mortgage borrower delinquency list in the second quarter.

17 August 2009
By Steve Green

CityCenter gives condominium buyers hope for price cuts

A view of MGM Mirage's CityCenter along the Las Vegas Strip.

Buyers of CityCenter condos, grumbling about the drop in real estate values and other concerns, say MGM Mirage officials who were previously reluctant to discuss the issues are now reaching out to them. Buyers say they hope the talks lead to price reductions on existing sales contracts, which is their primary goal. MGM Mirage officials, worried that some buyers will not want to close on their units, are also inviting customers to discuss their concerns about construction problems uncovered at CityCenter in recent months.

15 August 2009
By Liz Benston

State closer to launching foreclosure mediation program

CARSON CITY – A mediation program to help stop the large number of foreclosures on Nevada homeowners should begin soon, a state official says.

14 August 2009
By Cy Ryan

Home sales, prices cool a bit in July

Las Vegas home sales slowed slightly in July and prices resumed their downward spiral after stabilizing the previous two months, according to the Greater Las Vegas Association of Realtors.

14 August 2009
By Buck Wargo

Contractors concerned about higher taxes on businesses

There is little optimism for a rebound in the Southern Nevada construction industry anytime soon, and any possible recovery will be stifled by new taxes approved by the Legislature, according to the Associated General Contractors of Las Vegas.

14 August 2009
By Buck Wargo

Get 'em while they're cold

A view of MGM Mirage's CityCenter along the Las Vegas Strip.

MGM Mirage is expected to cut its condominium prices at CityCenter by about 30 percent, two knowledgable Las Vegas Realtors said.

14 August 2009
By Buck Wargo

Report: Nevada tops foreclosure list for 31st month

Three more reports show that the Las Vegas and Nevada real estate markets remain at or near the top of the nationwide lists for foreclosures, lower prices and homeowners being underwater in their mortgages.

13 August 2009
By Steve Green

Lenders to foreclose on Lake Las Vegas’ last golf course

A passerby peers into the boathouse at the exclusive Southshore community at Lake Las Vegas.

Lake Las Vegas’ third and final golf course, the private Southshore Golf Course, is heading for foreclosure. Like the two public courses it is mired in debt and, according to court documents, operating at a significant loss. The resort, which has been in bankruptcy reorganization since July 2008, has already abandoned its two public courses, The Falls and Reflection Bay, allowing them to enter foreclosure. Though the courses are being maintained, they remain closed. Like the two public courses, the Southshore Golf Course is mired in debt.

12 August 2009
By Jeremy Twitchell
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