Las Vegas Real Estate News

Titus wants homeowners told of mortgage relief

Democratic Rep. Dina Titus plans to introduce legislation this week that would require mortgage servicers to notify homeowners if they qualify for mortgage relief.

Countrywide to lower interest rates in settlement

Mortgage giant Countrywide Financial Corp. has agreed in Nevada to lower interest rates for some borrowers, pay settlements and relocation expenses for some borrowers who lost their homes and reform its lending practices to settle a predatory lending lawsuit filed by the state's attorney general.

A little late, foreclosure crisis addressed

There’s often a horse-out-of-the-barn quality to the work of Nevada’s Legislature, as it is often forced to react to problems months or even years after the original effects are felt.

How we'll live post-sprawl

How we'll live post-sprawl

The disco days are dead, that much is certain. No more brokers driving Mercedes, no more crane skyline, no more developments popping up around the desert like toast from a toaster. Construction and real estate, Southern Nevada’s second most important industry, have crashed, and there likely will be little building here for several years. Start with the bad: All those half-empty neighborhoods on the edge of town become exurban ghettoes. These neighborhoods share the worst aspects of suburban life.

Home vacancy rates growing in Nevada

Roughly 1 in 23 residential addresses in Clark County (4.31%) were listed as vacant by the postal service at the end of 2008.

‘More pain to come in this Vegas land market’

Some Las Vegas residential land has no underlying value, and it’s only going to get worse, one land expert says.

New-home sales plummet again with no signs of improvement

The Las Vegas new-home market tumbled again in January and many builders remain on the sidelines, a local housing expert said this week.

Housing hopes

Next month the Obama administration is expected to release more details of an ambitious plan designed to keep millions of Americans in their homes. It is hard to think of a place that needs help more than Southern Nevada, which has been battered by a record number of home foreclosures.

Expert: Some residential lots have virtually no value

Some Las Vegas residential land has no underlying value, and it’s only going to get worse, one land expert says.

Las Vegas counts on Obama housing rescue

Prospective bidders inspect a house last month that was slated to be a auctioned off in a large auction of foreclosed homes.

With Nevada leading the nation in foreclosures, no one has a bigger stake in the Obama administration’s housing rescue plan than Las Vegas. Housing industry observers are guardedly optimistic the plan will help stem foreclosures, which continue to drive down home prices. Although the drop in prices has boosted sales, that threatens to depreciate values marketwide and trigger more foreclosures, which have ruined bank balance sheets and contributed to the deepening recession.

New rule, Health District backlog keep pools closed

Mike Heiney, owner and operator of Westside pools, compares an old pool drain cover, left, with one of the new anti-entrapment pool drain covers designed to prevent deaths. The law requires that all pools and spas have drain covers installed and a second anti-entrapment system added when there is only a single main drain.

The Southern Nevada Health District is working out a system that it hopes will clear up months of confusion over a new federal law that closed hundreds of local public swimming pools and hot tubs in December.

Report: Las Vegas home prices at July 2003 levels

Home prices in Las Vegas have fallen to levels not seen since July 2003, according to a monthly index of home prices in 20 metropolitan areas released today.

Plumbing problems may continue to grow

Already in the midst of a lawsuit regarding the Kitec plumbing system, Pulte Homes and its subsidiary Del Webb are investigating potential problems with Wirsbo brass fittings in some of its Sun City Anthem communities.

Economist: Vegas housing market to recover in 2010

The steep drop in home prices and newly approved $8,000 tax credit for first-time homebuyers will help pave the way for a recovery of the Las Vegas housing market in 2010, according to the chief economist with the National Association of Realtors.

Marriott moves forward on timeshares resort

Ground will be broken sometime this year on the third tower at Marriott's Grand Chateau on Harmon Avenue just east of Las Vegas Boulevard, and a fourth tower will be developed after that. This photo shows the property on Friday.

Hotel giant Marriott International Inc. officials say despite the economic slowdown, they’re proceeding with plans to double the size of Marriott’s big timeshare vacation resort near the Las Vegas Strip.