Las Vegas Real Estate News

HEY, BUYERS: ALL ABOARD!

Gloria Crockett of Las Vegas rides the $100,000 bus, which the Zuckers plan to use for tours throughout the Las Vegas Valley. They’re even thinking about a second bus.

Considering that the collapse of the housing market means fewer jobs, families being tossed out of their homes and possibly, just possibly, a recession ... well, considering all that, taking a weekend real estate tour on a bus called the Foreclosure Express might seem a touch ghoulish, like robbing the dead or at least whistling past a graveyard.

2 March 2008
By Brendan Buhler

State, U.S. preparing loan fraud crackdown

The FBI and the IRS are teaming up with Nevada Attorney General Catherine Cortez Masto, state regulators and Metro Police to tackle a surge in mortgage fraud that is overwhelming Nevada authorities. The announcement of a task force is expected early next month.

20 February 2008
By J. Patrick Coolican

Housing market downturn hits new low

Housing market downturn hits new low

In a sign the Las Vegas housing market continues to deteriorate, foreclosures in January surpassed the sales of new and existing homes for the first time during the downturn.

19 February 2008
By Buck Wargo

Subprime clean up: Sadness overwhelms

Kendra Sellers used to make subprime loans. Now she counsels homeowners who’ve gotten in over their heads.

Kendra Sellers sits in a small office and listens to tales of lives falling apart. All the woe can be tough to hear. And she wonders whether she contributed to it. In her past job, Sellers was a mortgage lender. She pushed subprime home loans to customers, then tossed and turned at night, wondering what would happen to the homeowners. But she was under big pressure to push those loans. The lending companies were desperate.

30 January 2008
By Alexandra Berzon

As market gets tougher, CityCenter to sell in Dubai

Construction continues on MGM Mirage’s $7.8 billion CityCenter project between the Monte Carlo and the Bellagio on the Las Vegas Strip. Executives say they are not sweating the roughly 1,300 condo units yet to be sold, largely because of the strong market for international tourism, which they plan to tap with a sales office in the United Arab Emirates.

Six months ago, Dubai’s government-owned conglomerate hot to invest on the Las Vegas Strip and enthralled by MGM Mirage’s CityCenter development came knocking with an offer to buy a half-interest in the project and acquire a 9.5 percent stake in the gaming giant.

24 January 2008
By Liz Benston

Fix the economy, but how?

Unemployment. Housing foreclosures. Soaring gas prices. Tax cuts. Recession? There may not be a more politically divisive way to start the new year in Congress and tee up the 2008 campaigns than with a debate on the economy. Economists increasingly think the country may be heading toward a recession, and some say Nevada already is in one. The state’s 5.4 percent unemployment rate is higher than the national average of 5 percent and Nevada leads the nation in the rate of foreclosures from the mortgage mess. Serious problems await serious solutions.

12 January 2008
By Lisa Mascaro

Looking ahead on the housing slump, resort openings and the gaming tax

The housing slump and the accompanying spike in foreclosures have been the biggest personal finance story for more than a year, and I don't expect things to get much better this year, if they improve at all.

6 January 2008
By Jeff Simpson

Seeing no profits, condo owners sue

Nevada's biggest Strip developer is embroiled in a dispute with mom-and-pop investors that offers a cautionary, buyer-beware tale involving the sale of high-rise residential units.

4 January 2008
By Liz Benston

FORECAST: SILVER STATE ’08

We’ve got an uncertain year ahead, but the nation’s eyes will certainly fall on us

1 January 2008

Letter: Don't be so quick to judge foreclosure victims

I have to wonder if these are not the same people who now also like to say such things as "we saved and spent within our means." In other words, if times are economically good, then you are entitled to a house; but if times are economically difficult, then others should sit on the sidelines and envy you because you had good luck in the timing of your purchase.

5 November 2007
Timothy James

Speculators bear brunt of foreclosures

If location, location and location are the most important factors in real estate, timing is not far behind.

23 September 2007
By Jeff German,
Steve Kanigher,
Alex Richards

Again in June, foreclosures hit Nevada harder than any other state

Again in June, foreclosures hit Nevada harder than any other state

22 July 2007
By Buck Wargo

Rich and famous towering above the masses

The brisk sales at Mandarin Oriental, at MGM Mirage's CityCenter, were triggered mostly by word-of-mouth and suggest that Las Vegas Boulevard is maturing beyond a weekend playground for the rich and famous and into a chic residential address.

25 February 2007
By Liz Benston

LOOKING IN ON: REAL ESTATE

LOOKING IN ON: REAL ESTATE

6 February 2007
Brian Wargo

Tortoise may want vote on land deal

A plan to protect some Boulder City land from development - and in so doing help out the Mojave Desert tortoise - is going to take the political equivalent of a five-cushion billiards shot to achieve its twin purposes.

6 February 2007
By Mike Trask
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