Las Vegas Real Estate News

Builder tweaks sales process

It’s tough business for homebuilders these days with the prospect of fewer than 5,000 sales in 2009 when there were as many as 35,000 in 2006.

19 June 2009

By Buck Wargo

Worst in nation: Las Vegas commercial properties in distress

Empty space: This office building at the northwest corner of Rainbow Boulevard and Interstate 215 was constructed by Plise Development. It is shown vacant in June 2009.

The number of commercial properties facing foreclosure is growing rapidly, and observers said a massive bank takeover of office and retail buildings is likely in the coming months. This year, lenders have filed default notices against 323 valley properties.

19 June 2009

By Buck Wargo

Windermere Summerlin, Prudential to merge

Windermere Summerlin is merging with Prudential Americana Group. The agreement announced Wednesday says Prudential Americana, already the state’s largest firm, will add 100 Realtors and another office.

17 June 2009

By Buck Wargo

Courts prep for wave of foreclosure mediation requests

CARSON CITY – A new law requiring lenders to meet with homeowners in danger of foreclosure is expected to create numerous requests for mediation. A homeowner who receives a foreclosure notice can request an opportunity to sit down with the lenders and a trained mediator and explore whether a mutually agreeable resolution can be reached.

17 June 2009

By Cy Ryan

County, cities hammer out plans for foreclosure funds

Clark County and the three cities in the valley are finalizing their plan to grab as much as possible of the $2 billion in federal stimulus package funds to address the foreclosure problem in Southern Nevada.

16 June 2009

By Jeff Pope

Smaller home price drop may signal bottom

Housing analysts said a moderate price drop in May could signal that higher-priced homes are finally starting to sell in Las Vegas.

12 June 2009

By Buck Wargo

Office market depressing land prices in valley

The glut of office space that has resulted in the slowdown in development is contributing to depressed land prices.

12 June 2009

By Buck Wargo

Vacancies don’t deter longtime LV developer

No one has to tell Roland Sansone that the office vacancy rate in Las Vegas is 20 percent. Sansone, CEO of Sansone Development, is wrapping up grading and utility work in Henderson in preparation for construction of a three-story office building south of Interstate 215 and St. Rose Parkway.

12 June 2009

By Buck Wargo

Affordable housing topic still relevant despite price drops

Las Vegas’ staggering home prices during the boom years generated cries that the lack of affordable housing hindered the region’s ability to attract teachers and other crucial professionals and prevented companies from moving here.

12 June 2009

By Buck Wargo

Vegas economy shows glimmer of hope

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

Could the worst be over for Southern Nevada’s economy? Although the evidence is meager, there is an indication that Las Vegas’ economy could improve in the coming months based on the latest data from UNLV’s Center for Business and Economic Research, according to Director Keith Schwer. The Southern Nevada Index of Leading Economic Indicators shows seven of the 10 categories turned positive in May compared with April.

12 June 2009

By Buck Wargo

Meeting’s focus shifts to broader housing crisis

The topic of discussion during a town hall meeting Thursday night was supposed to be how the mortgage crisis has affected minorities. Instead, discussion quickly turned to senior citizens and others hurt by a down economy.

12 June 2009

By Kyle B. Hansen

Foreclosures increase as Nevada keeps top spot

Although foreclosures fell in the nation in May, Las Vegas and Nevada weren't so lucky. Foreclosures show no sign of abating with 3,051 homes repossessed in May after dipping to 2,478 repossessions in April, a 23 percent increase.

11 June 2009

By Buck Wargo

With little data, panel plans talk on foreclosures and minorities

Panelists at tonight’s town-hall meeting on how the foreclosure crisis affects minorities in the valley are handicapped by a lack of research on the topic. According to its hosts, public radio stations KNPR 88.9-FM and KCEP 88.1-FM, the event is meant to address “how ethnic minorities have disproportionately been affected” by foreclosures in the region.

11 June 2009

By Timothy Pratt

KNPR to host town hall meeting on mortgage crisis

Nevada Public Radio is hosting a town hall meeting Thursday night to address the foreclosure problems plaguing Southern Nevada.

10 June 2009

By Kyle B. Hansen

Home prices drop by smallest amount since 2007

Las Vegas home prices dropped in May by their smallest percentage since November 2007 as demand for housing approached record levels, according to statistics released Tuesday by the Greater Las Vegas Association of Realtors.