Las Vegas Real Estate News

Ordinance working, but party houses still around, commissioner says

For groups of visitors traveling to Las Vegas, renting a home for a few days or a week in a residential neighborhood can be a cost-effective alternative to staying on the Strip.

28 January 2013
By Conor Shine

Buy Gavin Maloof's house for $12 million (in November, it cost $7.5 million)

Gavin Maloof, left, and George Maloof Jr. speak at a news conference announcing the family's purchase of a minority interest in the Sacramento Kings in January 1998. The Maloofs took majority control the following year.

Gavin Maloof must be pretty confident these days. Not only did his family agree to sell for a whopping half-billion dollars the Sacramento Kings, but he upped the price on his Southern Highlands mansion by 60 percent — to $12 million.

28 January 2013
By Eli Segall

New home products at the builders' show: touchless faucets, heated carpet and light-up drains

A scene from the International Builders Show at the Las Vegas Convention Center on Jan. 21, 2009.

If you missed this week’s International Builders’ Show at the Las Vegas Convention Center, don’t worry. It will be back next year. And the year after. And the year after that. Representatives of the Washington-based National Association of Home Builders signed an unprecedented four-year commitment to Las Vegas, ensuring that the international trade show for the home-building industry will be here annually through 2016.

25 January 2013
By Richard N. Velotta

Real estate firm buys 3 Las Vegas extended-stay hotels

A San Francisco Bay area real estate firm has acquired three extended-stay hotels in Las Vegas for a combined $34.4 million.

24 January 2013
By Eli Segall

Veer Towers has 100 condominium units to sell

The Veer Towers at CityCenter dwarf the Harmon Hotel, which sits empty and unfinished Friday, July 29, 2011.

A month after buying most of the remaining condos at CityCenter's Veer Towers, East Coast investors are putting 100 units back up for sale today. Executives with Ladder Capital and Pordes Residential Sales & Marketing plan to sell their 427 condos in phases, said Las Vegas broker Jim Navarro, who is overseeing the efforts at the Strip complex. It will take about three years to sell the entire portfolio, he estimated. Navarro and six salespeople will work out of a 30th-floor suite in the development's west tower.

24 January 2013
By Eli Segall

Nevada Realtors seek change in 'robosigning' law to free up home inventory

This photo from June shows the home at 3128 Blossom Glen Drive in Henderson, which was abandoned and falling apart. Like many homes in the valley, the disrepair can be blamed on foreclosure.

A real estate lobbying group wants Nevada lawmakers to tweak the state's "robosigning" law and get more abandoned properties back up for sale.

24 January 2013
By Eli Segall

Property owners filing fewer appeals over assessments, county reports

The number of appeals of property tax assessments dropped significantly for the second year in a row, the Clark County Assessor’s Office said Wednesday.

23 January 2013
By Conor Shine

Developer's proposed land swap efforts win county's approval

The Clark County Commission voted Tuesday to support efforts by developer Jim Rhodes to swap his 2,600 acres near Red Rock National Conservation Area with less controversial federal land.

22 January 2013
By Conor Shine

Las Vegas Valley home prices likely to keep rising in 2013

A home for sale near Buffalo and Alta drives in Summerlin is seen Friday, Nov. 18, 2011.

Las Vegas home values are expected to rise this year, though not as fast as in 2012. After hitting bottom last spring, home values are projected to rise 3.1 percent by the end of the year.

21 January 2013
By Eli Segall

In Las Vegas' real estate market, short sales have become the norm

A predicted new wave of foreclosures may not arrive if lenders turn to short sales, which will require them to retrain loss mitigation workers.

If you want to buy a house in Las Vegas, be prepared to be patient. Short sales, which can take up to a year or longer to close, have soared to record levels in the valley. They now account for almost half of all home sales and show no signs of slowing.

18 January 2013
By Eli Segall

Buying a home? Beware of the not-so-short sale

Buying a home? Beware of the not-so-short sale

No one could have prepared us for the hair-pulling frustrations of trying to buy a house in the Las Vegas marketplace. This is our cautionary tale for those of you who are thinking of pursuing a short sale. For starters, forget the word “short.” There was nothing short about it.

18 January 2013
By John Taylor

Nevada cedes top foreclosure ranking to Florida

The number of Nevadans who are underwater on their mortgages is down, but only because many have lost their homes to foreclosure, a report says.

After five straight years in the country’s dubious No. 1 spot, Nevada’s foreclosure rate finally dipped in 2012 — to second-worst.

17 January 2013
By Eli Segall

11 more suspects indicted in ongoing HOA fraud investigation

Federal prosecutors have charged 11 more people in Las Vegas Valley with a complex scheme to take control of local homeowners’ associations and steer business to a law firm and construction company.

16 January 2013
By Eli Segall

Real estate companies take over management of UNLV dorms

The Dayton Complex for freshman students on the campus of UNLV in Las Vegas on Wednesday, August 22, 2012.

A consortium of private companies has taken over management of on-campus housing at UNLV. AVS Housing Group began overseeing the university’s six-building residence hall system, with 1,450 beds, on Jan. 1.

16 January 2013
By Eli Segall

Las Vegas has most empty office space in nation

Las Vegas office buildings filled up a bit more last year but still had the largest percentage of empty space in the country. The Las Vegas Valley had a 25.8 percent office vacancy rate in the quarter ending Dec. 31.

10 January 2013
By Eli Segall
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