Chris Adams was excited to be one of the first occupants of a midrise condominium complex along Centennial Parkway in North Las Vegas. It made the perfect bachelor pad, with its modern architecture, apple red exterior and view of the mountains.
Despite median house prices dropping more than 20 percent in the past year, affordability remains a long-term problem that could stop industries and workers from moving to Southern Nevada, according to a study.
Selling high-rise condominiums in this town and closing escrow on them are separate challenges in today’s economy, a Sun analysis has found. Of 2,558 units that opened escrow this year in projects of 50 or more units, 77 percent are still in escrow.
“Lakefront land sale,” screamed the advertisement, “one weekend only.” The pitch promised migrating loons and renowned Lahontan cutthroat trout fishing on Walker Lake, five hours from Las Vegas near Hawthorne.
Two weeks ago, a column ran under the byline of John Restrepo, a column purporting to peer into the future of commercial real estate in Las Vegas through 2008. The vast majority of the forecast was either a word-for-word ripoff or light rephrasing of a two-month-old report by Jeremy Aguero, a competing real estate analyst.
Station Casinos will begin taking applications Sunday for more than 1,000 jobs at Aliante Station, the company’s 10th major property in town, which is scheduled to open in North Las Vegas Nov. 11. And applicants can line up in their pajamas.
If, as some expect, gas tops $5 a gallon by the end of the year, the pain at the pump could make some rethink buying a home in “exurbs” distant from their region’s major hub — something happening in Southern California and elsewhere across the nation.
The neighbors of Eagle Ridge Manor, a trouble-prone group home for the elderly and the mentally ill, successfully petitioned county commissioners to revoke the home’s business license in March.
Sometimes foreclosed homes are trashed by evicted occupants out of anger or despair. Other times, the occupants are slobs of the highest order. Either way, the foreclosure cleanup business is booming.
The glossy sales brochure for Streamline Tower, a swanky new high-rise condo building in downtown Las Vegas, includes a photo of a dozen nicely dressed people milling about near the building’s front entrance.
Banks and other mortgage lenders are turning out to be lousy neighbors. Foreclosed homes featuring brown lawns and fetid swimming pools litter the Las Vegas Valley because the lenders that hold title have failed to keep the properties up.
Barack Obama returned to Las Vegas on Tuesday to shore up his weaknesses in Nevada, which is in the heart of a must-win region if he is to take the presidency in November. The freshman senator from Illinois lost the state’s Democratic caucus in January by 6 percentage points.
