Las Vegas Real Estate News

Investors still see value in flipping homes in Las Vegas

Scott Yancey, from A&E’s “Flipping Vegas,” does a walk-through to see the progress of one of their remodeling projects on Tuesday Nov. 26, 2013.

House flippers aren't giving up on Las Vegas, even though profits are sliding here and rising elsewhere. Flipping accounted for 8.7 percent of home sales in Southern Nevada in ...

28 October 2015
By Eli Segall

Investors buy Summerlin health-club building for $51 million

Investors recently purchased the 143,000-square-foot Life Time Athletic club building at 10721 W. Charleston Blvd.

The sales price was the highest nationally this year for a freestanding, single-tenant retail building, according to Faris Lee Investments broker Patrick Luther, who represented ...

20 October 2015
By Eli Segall

Las Vegas’ foreclosure rate rises to No. 2 in the nation, report says

A foreclosed home is seen Thursday, April 28, 2011.

Las Vegas’ foreclosure activity ramped up last month, making the valley one of the hardest-hit areas in the country, a new report shows. One in every 480 homes in Southern Nevada ...

16 October 2015
By Eli Segall

Las Vegas still ranks among nation’s worst for share of vacant houses

The front door of a vacant home is shown in North Las Vegas, April 2, 2013.

In a sign that abandoned homes still blight Southern Nevada neighborhoods, Las Vegas has a larger share of vacant houses than most U.S. cities and a bigger percentage of homes whose ...

8 October 2015
By Eli Segall

Report: Las Vegas housing market more stable, predictable

A house is shown for sale in Henderson.

Las Vegas used-home prices have been largely flat for four consecutive months, a new report shows, and sales volume is sliding. The median sales price of single-family homes last month was ...

8 October 2015
By Eli Segall

Prices for commercial real estate are rising, and buyers are shying away

The Village Square shopping center at Sahara Avenue and Fort Apache Road is shown Tuesday, Oct. 6, 2015. It was bought out of foreclosure in 2011 for $17.5 million and recently sold for more than double that amount.

Sales of Southern Nevada office buildings, shopping plazas, warehouses and apartment complexes have dropped in 2015 to the slowest pace in years. At the same time, however, prices have soared. Investment sales are by no means grinding to a halt, but market watchers say ...

8 October 2015
By Eli Segall

Almost 900,000 square feet of Summerlin office space placed on the market

Hines Interests and Oaktree Capital Management are trying to sell 18 office buildings in the Summerlin area of Las Vegas. The portfolio includes the building at 10000 W. Charleston Blvd., as seen above on Monday, Oct. 5, 2015.

Las Vegas brokers with CBRE Group last week listed more than 895,000 square feet, spread across 18 buildings, that Hines Interests and Oaktree Capital Management bought in fall 2012 as part of a $119.5 million portfolio purchase ...

6 October 2015
By Eli Segall

New-home sales are up from 2014, but report delivers bad news, too

A worker removes scaffolding from a Christopher Homes construction site in the Ridges Las Vegas, a luxury residential community in Summerlin, Thursday, June 11, 2015.

Las Vegas homebuilders are selling more houses than last year and ramping up construction plans, but a many issues still are weighing down ...

29 September 2015
By Eli Segall

Luxury Henderson condo complex is sold for more than $38 million

Sunset falls on one of several pools Wednesday, March 25, 2015, at Vantage Lofts, an upscale apartment complex in Henderson that was mothballed during the recession. An investor completed the complex after buying it in 2013.

Vantage Lofts was a mothballed condo complex, abandoned during the downturn, and after changing hands a few times became one of Southern Nevada’s most expensive rental ...

22 September 2015
By Eli Segall

‘We’re trying to stop the decay’: Effort to fuel redevelopment begins with Sahara Decatur Plaza

Sahara Decatur Plaza, pictured here Thursday, Sept. 17, 2015, is a sprawling strip mall with vacancies at the southwest corner of Sahara Avenue and Decatur Boulevard.

At Sahara Decatur Plaza, a once-bustling strip mall, Circuit City’s doors are locked (“Store closing sale,” a sign still says, several years after the retailer shut down) and used-car dealer Charlie Cheap Car hawks vehicles in the parking lot (“No credit? Bad credit? OK!” a banner says). Meanwhile, an armed security guard ...

18 September 2015
By Eli Segall

Nevada’s foreclosure rate is back to No. 1 in the nation

A foreclosed home is shown in a neighborhood near Tenaya Way and Russell Road on Thursday, June 25, 2015.

The state's foreclosure rate was highest in the country for more than five years until March 2012, a sign of how bad things got after the once-booming real estate market collapsed ...

16 September 2015
By Eli Segall

Investors buy 64 condo units at Sky Las Vegas high-rise on north Strip

Developers of the 45-story condo tower Sky Las Vegas, pictured on April 21, 2015, have found a buyer for 64 units at the high-rise.

A 45-story luxury high-rise, Sky is across the street from the mothballed Fontainebleau resort. Pathfinder picked up the remaining units that never sold after the 409-unit tower opened in 2007. The units at Sky, 2700 Las Vegas Blvd. South, were listed for sale in April at a price of ...

16 September 2015
By Eli Segall

Industry rebounding, but let’s not go overboard

Charles Van Geel, president of NAIOP, says warehousing stands out as the strongest prospect for investment and development in 2015.

The vice president of leasing and sales at American Nevada Company, who also serves as Southern Nevada chapter president of NAIOP, talks about the status of commercial real estate in the Las Vegas Valley, his predictions for the future and two presidents he admires ...

14 September 2015
By VEGAS INC Staff

North Las Vegas’ Park Highlands project would be impressive comeback tale

North Las Vegas master-planned community Park Highlands went bankrupt twice before a single house was built around North 5th Street just north of the 215 westbound lanes on Thursday, September 10, 2015. The owners have split the project in half with one group resuming work on its portion but the other group not.

Developer Gregg Wolin has been in the real estate business for 25 years, but few projects have tested his “humanity” and “ethical fiber” as much as Park Highlands in North Las Vegas. The sprawling development ...

11 September 2015
By Eli Segall

Air Force to condemn land near Area 51 after sale talks fail

The Groom Mine, a privately held plot of land in Nevada Test and Training Range.

Arguing it has exhausted all options, the Air Force instructed the Department of Justice today to condemn the 400-acre Groom Mine owned by a Henderson family. The parcel sits within ...

10 September 2015
By Daniel Rothberg
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