Las Vegas Real Estate News

Survey finds leaders in business pessimistic

A UNLV survey of local business leaders found that 76 percent don't expect any housing market recovery before the first half of 2010, with most of those saying it won't come until 2011 at the earliest. Only 23 percent of those surveyed expect the Las Vegas economy to improve in the third quarter of this year.

Anyone looking for a gauge to the Las Vegas housing market’s recovery may want to turn to local business leaders for insight. Based on their opinions, the rebound isn’t right around the corner.

6 July 2009
Las Vegas Sun

2010 expected to be more friendly to housing than 2009

What is on tap for Las Vegas in 2010 when it comes to the local housing market and economy? Although they will be weak, at least they will be better than 2009, according to one analyst who says they will at least be an improvement.

3 July 2009
By Buck Wargo

Court sets rules for foreclosure mediation program

The Nevada Supreme Court has established rules for a new program aimed at stemming the record tide of foreclosures in the state.

1 July 2009
By Cy Ryan

Program expanded to help more underwater homeowners

U.S. Department of Housing and Urban Development Secretary Shaun Donovan speaks Wednesday with U.S. Rep. Dina Titus (D-Nev.), right, during a tour of a Las Vegas neighborhood hit hard by foreclosures. HUD today announced an expansion of President Obama's Home Affordable Refinance Program.

Homeowners struggling with mortgage payments now have expanded options for relief, the U.S. Department of Housing and Urban Development announced today in Las Vegas. The program has been expanded to include borrowers who are up to 125 percent underwater on their mortgages.

1 July 2009
By Jinae West

Troubled real estate projects prompt lawsuits

With scores of empty storefronts, unoccupied office buildings and vacant warehouses, lawsuits continue to pile up over troubled commercial real estate projects in the Las Vegas Valley.

30 June 2009
By Steve Green

Report: Home prices fall at slower pace in April

The downturn in the real estate market has lowered home prices, such as in this Henderson neighborhood, to levels not seen in years.

Las Vegas home prices continued to fall through April at a rate far greater than most big cities -- but the pace of decline slowed both here and nationwide. That's according to debt rating agency Standard & Poor's, which today released its S&P/Case-Shiller Home Price Indices covering 20 big U.S. markets. Housing analysts, however, have warned in recent weeks that further declines in home prices are likely as foreclosure activity remains strong.

30 June 2009
By Steve Green

Judge approves bankruptcy for Lake Las Vegas golf course

Reflection Bay Golf Course at Lake Las Vegas.

Lake Las Vegas will close its second and last public golf course, Reflection Bay, tomorrow after a federal bankruptcy judge granted permission this morning to do so.

29 June 2009
By Jeremy Twitchell

Supreme Court urged to extend foreclosure mediation

CARSON CITY – A state worker has urged the Nevada Supreme Court to allow early mediation for those in danger of losing their homes.

26 June 2009
By Cy Ryan

Homebuilders say real estate news isn't all bad

Two homebuilders active in Las Vegas offered good-news, bad-news scenarios in their second-quarter financial reports. Still, reports were issued as new data showed continuing problems for homebuilders.

26 June 2009
By Steve Green

Commercial developers, lenders in 'stare down'

Property owners are doing what they can to cut prices to lure buyers, but the market for office buildings, retail parks and other commercial development is at a standstill.

26 June 2009
By Buck Wargo

Home prices drop to 2000 levels

The new-home market remained dismal in May, and existing-home sales reached their highest level since September 2005 as prices fell more, according to statistics released June 23 by SalesTraq.

26 June 2009
By Buck Wargo

Another golf course to close at struggling Lake Las Vegas

Spectators look on during an annual Three-Tour Challenge at the Reflection Bay Golf Club at Lake Las Vegas in Henderson in 2004. The golf course at Lake Las Vegas is scheduled to close June 30 and its employees will be laid off.

The Reflection Bay golf course at Lake Las Vegas is scheduled to close June 30 and its employees will be laid off, Lake Las Vegas revealed in a recent court filing. With the earlier closure of the Falls golf course, this will leave just one operating course at the struggling high-end development in Henderson.

25 June 2009
By Steve Green

Obama tells Sun: Nevada’s housing pain is on my mind

Obama tells Sun: Nevada’s housing pain is on my mind

President Barack Obama said Wednesday he is acutely aware of Nevada’s foreclosure crisis and is evaluating whether more can be done to help homeowners, including by redirecting unused bank bailout funds for homeowner relief. Obama warned that using a portion of the $70 billion returned from the banks may require help from Congress.

25 June 2009
By Lisa Mascaro

Condo developer files for bankruptcy protection

Real estate developments in Henderson and northern Las Vegas are among the latest to be hit with loan default notices -- and one has filed for bankruptcy. Henderson condominium developer Aspen Peak LLC filed for Chapter 11 bankruptcy.

24 June 2009
By Steve Green

Swelling default, foreclosure figures ominous

Analysts predict a wave of bank takeovers of commercial properties like this empty office building as vacancies and loan defaults continue to increase.

The number of commercial properties facing foreclosure in the Las Vegas Valley is growing rapidly, leading to expectations of a massive bank takeover of office and retail buildings in coming months.

22 June 2009
By Buck Wargo
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