Las Vegas Real Estate News

Fewer U.S. homes repossessed by lenders in October

Fewer U.S. homes are completing the foreclosure process and ending up repossessed by banks because investors are increasingly buying up properties when they go on sale at public auction.

13 November 2013
Associated Press

Foreclosure-plagued Nevada welcomes drop in rate

An auction sign for a foreclosed home in Las Vegas bends in the wind, Nov. 17, 2010.

Nevada’s foreclosure rate improved last month but remains one of the highest in the country. One in every 407 housing units statewide received a foreclosure-related filing in October, down 39 percent from September and 15 percent from a year ago, according to a new report from Irvine, Calif., research firm RealtyTrac. Filings include default notices, scheduled auctions and bank repossessions.

13 November 2013
By Eli Segall

Two distant worlds meet in Wyoming’s smallest town

Don Sammons, former owner of the town of Buford, Wyoming, is photographed next to a sign indicating the town's population on September 18, 2013. The town consists of a convenience store, gas station, and modular home on 9.9 acres of land. The town was put up for auction on April 5, 2012, with the highest bid of $900,000 by Vietnamese entrepreneur Pham Dinh Nguyen.

Don Sammons and Nguyen Dinh Pham have something unique in common: a tiny patch of real estate on the windswept plains of southern Wyoming. In an auction that was also streamed online, Pham, a 38-year-old entrepreneur from Vietnam, bought from Sammons a 10-acre property billed as the smallest town in America, a locale that traces its roots to the construction of the nation’s first transcontinental railroad 150 years ago.

9 November 2013
Anh Do and John M. Glionna, Los Angeles Times

Sales of homes, land continue to soar in Summerlin

A view of model homes in the Villa Trieste subdivision in Summerlin, Sept. 1, 2010.

Land and home sales keep climbing in Summerlin, whose developer said it sold 76.5 acres of land to homebuilders for $29.7 million in the last quarter.

7 November 2013
By Eli Segall

Only one Nevadan has taken foreclosure prevention lifeline

In this Feb. 8, 2008, file photo, a for-sale sign stands in front of a bank-owned home in Las Vegas.

Few Nevadans are taking advantage of a new foreclosure prevention lifeline thrown to them by the state Legislature.

7 November 2013
Associated Press

In real estate, those who fell farthest are now soaring highest

Homes are shown in Henderson's Montclaire subdivision.

After soaring fast and crashing hard, Southern Nevada home values are recovering at one of the fastest rates nationally. But this market isn't alone: Several other cities that experienced housing bubbles and economic destruction when the bubble burst are also leading the pack in real estate recovery.

7 November 2013
By Eli Segall

Las Vegas home prices rising again after brief dip

Fafie Moore, left, a Realty Executives owner/broker, and realtor Helen Riley look over a home being offered for sale in Henderson April 8, 2013.

After a one-month dip, Las Vegas home prices are climbing again. The median sales price of previously owned single-family homes in Southern Nevada last month was $185,000, up 3 percent from September and 32 percent from October 2012.

6 November 2013
By Eli Segall

Not all real estate investors are fleeing Las Vegas housing market

Realtor Helen Riley and Fafie Moore, a Realty Executives owner/broker, leave a home being offered for sale in Henderson on Monday, April 8, 2013.

With Las Vegas home prices much higher than last year, Wall Street investors have started to pull back and buy fewer properties. But overall, investor appetite is growing statewide. Institutional investors, or buyers who pick up at least 10 homes a year, accounted for 25 percent of all residential sales in Nevada last month, according to a new report from RealtyTrac.

23 October 2013
By Eli Segall

Desert now, but Henderson's Bermuda Road corridor is ripe for development

Las Vegas' Bermuda Triangle of empty land for sale.

Grand plans have come and gone for a wide area of southwest Henderson surrounding Bermuda Road. With a FedEx distribution center under construction off Executive Airport Drive and new plans being submitted for housing development in the area, is now the time for this mostly-desert land to finally be developed?

21 October 2013
By Eli Segall

House flipping remains fruitful in Las Vegas, if not elsewhere

Fafie Moore, left, a Realty Executives owner/broker, and Realtor Helen Riley look over the backyard of a home being offered for sale in Henderson on April 8, 2013.

Real estate investors across the country are backing away from the house-flipping game. But it appears the practice continues to be a good bet in Las Vegas.

16 October 2013
By Eli Segall

Valley housing prices have given residents the ride of their lives

A home for sale at Red Rock Country Club in Summerlin is seen Friday, Nov. 18, 2011.

The past decade has been a horrible roller coaster ride for Las Vegas’ housing market, and now the market is expected to cool off as property values are on the rise. Every city and town in Southern Nevada went through a bell curve-shaped boom and bust.

15 October 2013
By Eli Segall

Then and now: What's a valley house worth?

Houses sprawl across the Las Vegas Valley. When the housing bubble burst in 2007, Las Vegas became the No. 1 area in foreclosures nationwide.

Las Vegas home prices have soared at some of the fastest rates nationally, making it tough for many people to find an affordable place to live. But compared with the boom years, house hunting in the valley these days is like walking the aisles of a dollar store.

14 October 2013
By Eli Segall

Selling a Las Vegas mansion with a stigma? Here's the expert you need

Dan Ionescu's Las Vegas, Nevada, home is being remodeled after the home was featured on "Ghost Adventures" and later vandalized.

The vandals came after “Ghost Adventures” featured the mansion on an episode that warned of a “nasty, evil spirit” that lurked inside. The homeowner fumed and sued. He wanted the Travel Channel show to pay damages.

13 October 2013
Andrew Khouri, Los Angeles Times

New short-sale rules send Nevada's foreclosure rate through the roof

Weeds surround a foreclosed house on Rock Cove Way in Southern Highlands.

Nevada’s foreclosure rate almost doubled last month from a year ago as banks, facing new rules that could make it harder to seize distressed homes, cranked up pressure on delinquent borrowers.

9 October 2013
By Eli Segall

Homeowners hope to cash in big on hot housing market, but buyers aren't biting on overpriced homes

Sale winds: A Henderson home is advertised for sale on July 13, 2009.

Las Vegas homeowners are getting greedy. With real estate prices soaring, many local residents are hoping to cash in and sell their homes for big dollars, in many cases more than they are worth. Homeowners should dial down their excitement, though.

9 October 2013
By Eli Segall
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