Las Vegas Real Estate News

Housing help for Nevadans in budget bill

Home building continues in Anthem in Henderson, although the demand for new homes has dropped precipitously.

A proposal from Senate Majority Leader Harry Reid to help Nevada homeowners avoid foreclosure has been included in the budget blueprint making its way through the Senate. Reid announced the inclusion of his provision today after a lunch meeting with President Obama and Democratic senators.

25 March 2009
By Lisa Mascaro

Report: Las Vegas home values fall 28 percent in year

A new report shows January home prices in the Las Vegas area dropped more than 28 percent in the past year. The First American CoreLogic Home Price Index shows prices across the country fell 11.6 percent compared to a year ago, although Las Vegas joined several cities in California and Florida that posted declines of more than 20 percent.

24 March 2009
By Las Vegas Sun Staff

Residents of bankrupt Lake Las Vegas face uncertainty

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

While owners, attorneys, judges and creditors debate the future of the bankrupt Lake Las Vegas resort, a handful of residents are banding together to take a proactive role in the process. The resort’s future has been cloudy since original developer Transcontinental Corp. defaulted on its loan and was foreclosed on in January 2008. The Atalon Group subsequently acquired the development and filed for bankruptcy in July, and the Nevada District of Federal Bankruptcy Court has since been swarmed by attorneys and filings on behalf of the resort’s owners and their dozens of creditors.

23 March 2009
By Jeremy Twitchell

Reid: Obama housing plan not enough

Senate Majority Leader Harry Reid said today President Barack Obama’s housing rescue plan doesn’t go far enough to help the many Nevadans who are underwater on their mortgages.

23 March 2009
By Lisa Mascaro

Whether to walk away: Housing’s moral minefield

Whether to walk away: Housing’s moral minefield

It’s the scruples question of the day. Maybe of the year. Should I stay in the home I love, or stick it to the bank? Is your greater responsibility to your family’s financial well being, or keeping your word to the bank? It may be an excruciating decision for good, decent people: Do I make my payments and refuse to join the next wave of foreclosures that will further blight my neighborhood? Or do I violate personal ethics and walk away from a contract that I signed with my eyes wide open?

22 March 2009
By Brian Eckhouse

LV reclaims top foreclosure ranking in U.S.

Las Vegas reclaimed its dubious title as the foreclosure capital of the country in February, and Nevada set a record with its most-ever number of households in default on mortgage payments. That’s the first time since October that Las Vegas held the top ranking of cities with a population of 200,000 or more.

20 March 2009
By Buck Wargo

New-home sales remain icy

As bad as 2008 was for the new-home industry, 2009 is shaping up to be even worse.

20 March 2009
By Buck Wargo

Professionals pessimistic about speedy economic recovery

Las Vegas business leaders aren’t optimistic for a quick turnaround in the economy and suggest it’s likely the housing market won’t recover until 2010.

20 March 2009
By Buck Wargo

NAIOP honors top commercial real estate projects

The Southern Nevada chapter of the National Association of Industrial and Office Properties handed out awards March 14 honoring the best in the real estate and development industries.

20 March 2009
By Buck Wargo

Despite foreclosures, builders pin hope on new home sales

Denise and Anna Mortimer look at homes in The Mesa village of Summerlin at a previous America's Biggest Open House event.

Real estate across Clark County is slumping, but Summerlin homebuilders hope that lower housing prices will bring buyers to the master-planned community's biggest open house of the year.

20 March 2009
By Becky Bosshart

Local allies in public health: Fish

Phil Bondurant, an environmental health specialist, releases mosquito fish into pool Tuesday in Henderson. The fish can feed on mosquito larvae for years.

The newest sign of these economic times can be found hanging on back-yard gates throughout the valley: “Fish at work.” It’s public health authorities’ way of alerting neighbors that, yes, the algae-filled swimming pool in the back yard of that foreclosed or abandoned home is a potential breeding ground for mosquitoes — but fish are on the case.

19 March 2009
By Brian Eckhouse

Las Vegas sees slowest growth rate in two decades

The economy is taking its toll on population growth in the Las Vegas Valley. Strapped by the nation's economic crisis, fewer Americans are migrating to Sun Belt hot spots in Nevada, Arizona and Florida, instead staying put for now in traditional big cities.

19 March 2009
Staff and wire reports

Sales of new homes tumble further in 2009

As bad as 2008 was for the new-home industry, 2009 is shaping up to be even worse. Through the first two months of this year, only 637 new homes sold. If that pace continues, fewer than 4,000 new homes will sell this year.

17 March 2009
By Buck Wargo

Foreclosure option on rocky turf in Senate

Legislation that could provide a last-ditch option for Nevada homeowners facing foreclosure has passed the House but is facing a tougher time in the Senate. The bill would give bankruptcy courts the authority to reduce mortgages as part of an intense court-monitored plan to restructure homeowner debt.

17 March 2009
By Lisa Mascaro

Foreclosure sales have home market feeling down

When Nevadans started to realize they were at the epicenter of a full-blown foreclosure crisis in 2007, riding a rising wave of loan defaults that eventually turned into auctions and bank repossessions, they didn't really understand what was in store for the real estate market.

16 March 2009
By Chris Morris,
Alex Richards
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