Las Vegas Real Estate News

Realtors’ numbers show need for stimulus

A stimulus for the housing market can’t come soon enough for Las Vegas.

13 February 2009

By Buck Wargo

New style mixed-use project under way in Las Vegas

LoftWorks: Construction continued Feb. 4 on LoftWorks at Tenaya, a 40-acre mixed-use project at Tenaya Way and Sunset Road. The project combines residential, retail, office and warehouse space in the first development with that mix in the valley.

Two Las Vegas developers are taking the buffet to a new level. But instead of a spread of food that gives people a chance to sample a little of everything, Joel Laub and Don Borsack have taken the concept to a new level in the development business.

13 February 2009

By Buck Wargo

Nevada's foreclosure rate tops nation once again

A second report issued this week on foreclosure trends shows foreclosure filings declined nationwide and in Nevada last month, but offered little optimism for a quick turnaround in the housing market.

12 February 2009

By Steve Green

Lawmakers target foreclosures in package of bills

Assembly Speaker Barbara Buckley and other Democratic lawmakers unveiled a package of legislation intended to help stem the foreclosure crisis.

11 February 2009

By David McGrath Schwartz

Analysts disagree on timing of real estate turnaround

One company that tracks foreclosures issued a report Wednesday suggesting the housing market is finally turning around in Nevada and the rest of the nation. But an analyst at a competing firm said things are likely to get worse before turning around later this year.

11 February 2009

By Steve Green

Dana Wiggins, labor relations manager of Associated General Contractors

Dana Wiggins, labor relations manager of the Associated General Contractors, says it's possible that Las Vegas will never again see the kind of building boom witnessed in the past few years. "It's bad," he says. "The architects are literally not drawing any new projects."

Las Vegas-native Dana Wiggins has lived through many a construction boom. But nothing prepared him for what he witnessed the past few years as towers rose rapidly on the Strip and off.

11 February 2009

By Alexandra Berzon

Home sales slow as prices continue tumble

The pace of home sales slowed in January as the price continued to tumble, according to statistics released this morning by the Greater Las Vegas Association of Realtors.

10 February 2009

By Buck Wargo

Recovery expected to be slow

Anyone looking to regain the appreciation lost on his home over the past 18 months is going to have to wait awhile, according to Scott Dugan, one of the leading appraisers in Las Vegas.

10 February 2009

By Buck Wargo

In housing, GOP saw opportunity

As this week’s Senate debate over economic recovery dealt with jobs and pork spending, Nevadans might have wondered what the government is doing about the elephant in the room — the housing crisis.

6 February 2009

By Lisa Mascaro

You can’t keep a good manse down

Attendees of the National Association of Homebuilders convention wait to get a look at the New American Home 2009, expected to sell for more than $4 million.

It’s an old-money neighborhood, as Las Vegas understands the term.

6 February 2009

By Brendan Buhler

Next wave of foreclosures may drive housing prices even lower

Anyone looking to regain the appreciation they lost on their homes during the correction over the last 18 months is going to have to wait awhile, according to Scott Dugan, one of the leading appraisers in Las Vegas.

6 February 2009

By Buck Wargo

Condos struggle in icy market

Streamline Towers in downtown Las Vegas has closed on only 10 percent of its 275 units, according to Las Vegas research firm SalesTraq.

The credit crunch and economic downturn are taking their toll on the Las Vegas high-rise market. Las Vegas research firm SalesTraq reports that of the 15 high-rise projects in the valley, nearly half have less than 60 percent of the units sold. And of those already sold, a growing number are in foreclosure proceedings.

6 February 2009

By Buck Wargo

Assembly unanimously upholds Gibbons' veto of HOA bill

The Nevada Assembly began the 2009 session by taking care of old business from 2007. Legislators today upheld the governor's veto of a bill that would have made sweeping changes to the governing and operations of homeowners associations.

3 February 2009

By Jeff Pope

In real estate, some seeing uptick in business deals

Some professionals around the real estate industry report seeing more commercial activity in the first weeks of the new year, but what it means is up for debate. A Las Vegas law firm involved in numerous real estate and business deals says business picked up in January as companies and investors who sat on the sidelines in 2008 are now looking at getting back in the game.

3 February 2009

By Steve Green

Builder calls timeout as housing slide worsens

"When capital runs from the industry, the industry stops," says Tom McCormick, president of Astoria Homes, which has halted home construction.

Tom McCormick can empathize with homeowners who have lost their properties to foreclosure. He’s losing 30 brand new, never-lived-in homes to foreclosure in one fell swoop.