Las Vegas Real Estate News

Controversial program that uses eminent domain to bail out underwater homeowners poised for vote in NLV

A for sale sign stands outside a bank-owned home in North Las Vegas, Feb. 18, 2009.

For the past two years, representatives from Mortgage Resolution Partners have traveled to cities around the country to pitch local governments on a plan to help underwater homeowners keep their homes.

11 June 2013
By Conor Shine

Median price of previously owned homes is up 33 percent from 2012

Home prices kept climbing in Las Vegas last month but remained well below the prices of the hyper-inflated boom years. The median price of a previously owned single-family home sold in Southern Nevada in May was $170,000, up 33 percent.

10 June 2013
By Eli Segall

State-run program helping people stay in their homes through loan modifications

Lola Orvik, 70, shares the struggles she went through trying to avoid foreclosure on her Henderson home during an event at Las Vegas City Hall on Thursday, June 6, 2013, promoting the new state-wide homeowner relief program Home Again.

When she received a telephone call earlier this year offering to help her refinance her underwater mortgage for $4,500, Lola Orbik was skeptical, but her skepticism led her to Home Again. "What I’m doing these days is housecleaning. These people have given me a house to clean,” she said.

6 June 2013
By Conor Shine

So long, Shenandoah? Wayne Newton expects to move into newly purchased home by month's end

This is an aerial view of Wayne Newton's Casa de Shenandoah estate Monday, May 21, 2012.

After buying a lavish nearby mansion, Wayne Newton is moving out of the bitterly contested Casa de Shenandoah — and he’s taking his Arabian horses with him. The famed crooner, who has lived at the iconic Las Vegas estate since the 1960s, plans to leave by month’s end with his wife, Kathleen, and their daughter, Lauren, a person familiar with the matter told the Las Vegas Sun on Tuesday.

5 June 2013
By Eli Segall

If you rent a Las Vegas apartment, you might get a new landlord soon

Las Vegas Valley apartment buildings are selling at the fastest pace in years, and one recent deal involved the bulk sale of 14 complexes for $200 million. Oasis Bay apartments, 1601 E. Katie Ave., photographed on May 29, 2013, was one of the 14.

If you live in a valley apartment complex, odds are you soon could get a new landlord. Investors are snapping up local apartment buildings at the fastest pace seen in years, thanks to low prices, cheap financing and a plethora of potential tenants. Las Vegas has a large number of renters, as many residents can't buy homes because of past foreclosures, bad credit or financial hardship.

31 May 2013
By Eli Segall

Distressed-home prices in Nevada soar as inventory shrinks

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

With investors buying houses and hacking down the inventory, the price of distressed homes is rising faster in Nevada than in any other state, a new report shows.

29 May 2013
By Eli Segall

Amnesty period for nonpermitted home improvements nears end

Homeowners have only a few days left to self-report and avoid paying penalties for any home modifications done without a permit under a countywide amnesty program that runs through May.

28 May 2013
By Conor Shine

Report: Median new house price in Las Vegas headed to $250,000

Roofers work on new homes at a residential construction site in the west side of the Las Vegas Valley in Las Vegas, April 5, 2013.

Las Vegas builders continue to sell homes at a faster clip than last year as they pull more permits and buy land at higher prices.

28 May 2013
By Eli Segall

Las Vegas real estate agent killed in weekend motorcycle wreck

A Las Vegas man killed Saturday when he lost control of a motorcycle near Jean has been identified by the Clark County Coroner’s Office as Michael Sando.

28 May 2013
By Riley Snyder

These five homes sold in May for how much?

The Las Vegas skyline, including hotels and casinos from the world-famous Strip, looms in the background of row upon row of houses.

Las Vegas’ housing market is bouncing back with higher prices, rising values and a growing pipeline of construction plans. But not everyone is thrilled with a key reason for the upswing: investors.

26 May 2013
By Eli Segall

Higher dues for homeowners at stake in HOA legislation

Anyone living in a homeowners association in Nevada might want to pay attention to the next few weeks at the Legislature.

23 May 2013
By Andrew Doughman

Las Vegas still leads U.S. in underwater homeowners, but crisis seems to be subsiding

A vacant HUD home is shown in North Las Vegas April 2, 2013. A neighbor said that it has been vacant for about two years. (1524 Gaber Court, North Las Vegas)

Las Vegas’ underwater mortgage woes keep showing signs of improvement — but also remain worst in the country. Some 54.3 percent of valley homeowners with mortgages were underwater in the quarter ending March 31.

22 May 2013
By Eli Segall

Developer breaking ground on an office project — a rarity these days

With office construction at a near standstill, a Las Vegas developer is breaking ground this week on a project for a residential brokerage firm.

22 May 2013
By Eli Segall

A house for Mother's Day, a viral video for Las Vegas son

Michael Luangrath, 29, gave his mother, Dao Vahn, a longtime downtown Las Vegas business owner and cancer survivor, a $175,000 house for Mother's Day. The mother and son are shown here in a photo illustration of her house in North Las Vegas on Thursday, May 16, 2013.

Dao Vahn lost nearly everything to cervical cancer. The 52-year-old mother lost her health, her house and almost her business. Vahn's youngest son, Michael Luangrath, did everything he could to help his single mother. Luangrath dropped out of college and quit his job to care for his mother.

21 May 2013
By Paul Takahashi

LV attorney faces 30 years behind bars for role in securing 9 bogus mortgages

A Las Vegas attorney pleaded guilty Wednesday to a mortgage fraud crime that could land him in federal prison for up to 30 years, Nevada’s U.S. Attorney Daniel G. Bogden announced Thursday.

16 May 2013
By Jackie Valley
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