Las Vegas Real Estate News

HOA manager's license suspended over improper checks

The permit of a manager of local homeowner associations has been suspended after it was disclosed she improperly wrote checks from their accounts for more than $45,000 for the Las Vegas Eagle Baseball, a nonprofit corporation she directs.

11 August 2009
By Cy Ryan

Las Vegas home sales, prices stable in July

Las Vegas-area home sales and prices generally held up in July following June's record sales showing, the Greater Las Vegas Association of Realtors reported Monday. The Realtors said sales totaled 4,602, down 100 from June's record numbers, but the second-best showing on record.

10 August 2009
By Steve Green

The Vegas way out

The Vegas way out

Las Vegas homeowners are more likely than those elsewhere to walk away from their mortgages even though they can afford them, according to a study by two Chicago-area universities. The reason: Las Vegas — where 81 percent of homes are worth less than their mortgages based on the latest figures — leads the nation in the rate of foreclosures. And the decision to default on a mortgage can be contagious.

10 August 2009
By Buck Wargo

Along with growth, suburban town limited housing pain

Few speculators rolled the dice on real estate in Boulder City during Clark County’s housing boom — and not because gambling is illegal there. The town of about 17,000 can thank its slow-growth ordinance for keeping investors at bay and helping stem real estate market losses.

9 August 2009
By Jean Reid Norman,
Alex Richards

Downturn depletes ranks of Las Vegas millionaires

The decline of the real estate market is taking a toll on Las Vegas’ millionaires.

7 August 2009
By Buck Wargo

Foreclosure frenzy hits apartments

Even apartment buildings aren’t immune to foreclosures. Las Vegas apartment market analyst Michael Belnick said owners are facing some rough times with 6 percent of the buildings in default or foreclosure. More than 300 notices of default have been issued, he said.

7 August 2009
By Buck Wargo

Underwater LV homeowners more likely to walk away, study says

Foreclosure territory: Housing sprawls across the Las Vegas Valley. A study found that Southern Nevada is particularly susceptible to homeowners walking away from their mortgage responsibilities.

Las Vegas is at greater risk than other cities that its homeowners will walk away from their mortgages even though they could afford them, according to a study by two Chicago universities. Not only are depressed home prices a contributing factor, but when neighbors and friends see someone they know defaulting on their mortgage, the moral constraints and social stigma are lessened and make it increasingly likely that more foreclosures will result, according to the study by the University of Chicago Booth School of Business and Northwestern University. The study finds that 26 percent of all mortgage defaults are classified ...

7 August 2009
By Buck Wargo

Reid: Congress will extend $8,000 home tax credit

WASHINGTON -- Senate Majority Leader Harry Reid said today he expects Congress by year’s end to extend the $8,000 tax credit for first-time homebuyers. Reid said the program has support from both Democrats and Republicans, and continuing it would be on the agenda before Congress adjourns in December.

5 August 2009
By Lisa Mascaro

Bold plan aims to put families in foreclosed homes

Area municipalities have banded together to create an unprecedented proposal to use nearly $370 million in federal money to help set right neighborhoods across the valley reeling from the foreclosure crisis.

4 August 2009
By Timothy Pratt

Here comes Vegas’ new breed of buyer

THE OLD WAY: BUY AND FLIP: As the Vegas real estate market sizzled, many Californians moved in for the quick kill, relying on fast price appreciation for their profits. Investors didn't have to be particularly sophisticated as long as prices were rising each year by double-digit percentages. THE NEW WAY: IN FOR THE LONG HAUL: Now investors from California and elsewhere are looking at rental income, not appreciation, as the source of profits. Strong demand for single-family homes and low purchase prices allow landlords to cover costs and turn a profit in a bad market.

Southern California investors — a breed apart from those who contributed to the real estate collapse — are converging on Las Vegas, hunting for bargains on single-family homes and driving strong sales in June, housing industry experts said.

3 August 2009
By Buck Wargo

Home-price decline’s halt may be final, or just pause

The chances are growing less likely that Las Vegas median home prices will fall to $100,000, according to a Las Vegas housing analyst.

3 August 2009
By Buck Wargo

Lawsuits pile up in Las Vegas real estate investment scam

Investor lawsuits are piling up against a Las Vegas man who was arrested last week in what investigators are calling a massive real estate investment scam involving dozens of victims worldwide.

2 August 2009
By Steve Green

Recovery in Vegas? Not so fast

Las Vegas will take much longer than the rest of the country to emerge from the recession, several local economists said. And once it does, without major changes, expect flat or slow population growth, higher-than-average unemployment and slow wage growth.

2 August 2009
By J. Patrick Coolican

DR Horton takes on formidable foe: foreclosed homes

Although new home sales remain weak in Las Vegas, DR Horton has eclipsed the traditional front-runners in the market when it comes to sales through the first six months of 2009.

31 July 2009
By Buck Wargo

Single-family homes catch investors’ eyes

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

Southern California investors have returned to the Las Vegas market in force to look for bargains on single-family homes and helped drive Las Vegas to a record number of sales in June, housing industry experts said.

31 July 2009
By Buck Wargo
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