Las Vegas Real Estate News

Former PH Towers Westgate timeshare resort gets new name

The former Planet Hollywood Towers by Westgate has been renamed Elara, a Hilton Grand Vacations Club.

Hilton Worldwide on Thursday announced a new name for the former PH Towers Westgate timeshare resort on the Las Vegas Strip. The new name for the 52-story timeshare, which has more than 17,000 vacation interval owners, is “Elara, a Hilton Grand Vacations Club.”

1 March 2012

By Steve Green

Homebuilder American West files for bankruptcy

The Las Vegas economy was hit with another massive bankruptcy filing Thursday, this one involving developer Larry Canarelli's homebuilding empire.

1 March 2012

By Steve Green

HOA infighting an all-too-familiar Las Vegas experience

At the Casablanca Homeowners Association, a 55-and-older condo community in central Las Vegas, residents are in open combat, with nasty allegations being hurled at the board president.

29 February 2012

By J. Patrick Coolican

Las Vegas home prices fall for 11th straight month

With supply still exceeding demand in December, Las Vegas-area home prices fell again to a new low during the current recession.

28 February 2012

By Steve Green

If Congress doesn't act, distressed homeowners could take another hit

When the Las Vegas market hit bottom in early 2012, single-family homes sold for a median $118,000 and, within that, bank-owned homes for $100,000.

Take note, Southern Nevadans: If you own one of the estimated 100,000 homes that experts predict will be lost to foreclosure before the protracted housing crisis comes to an end, you may see a massive tax hike this time next year.

28 February 2012

By Karoun Demirjian

Getting together with business, civic leaders

Local real estate organizations often seem to be best known by their acronyms. It always seems that a broad part of the business community knows who you’re talking about whenever they hear the initials NAIOP, CCIM or GLVAR.

27 February 2012

By Bruce Spotleson

Southern Highlands developers face big foreclosure filing

With the Las Vegas homebuilding industry still mired in a deep recession, foreclosure proceedings have been initiated against big parcels of land controlled by the developers of the Southern Highlands planned community.

23 February 2012

By Steve Green

Grubb & Ellis files for bankruptcy, will be sold

California-based commercial real estate brokerage Grubb & Ellis Co., which has offices in Las Vegas and Reno, filed for Chapter 11 bankruptcy reorganization and agreed to sell itself to BGC Partners Inc., a publicly traded company.

21 February 2012

By Steve Green

Obama administration housing proposals: Will they work?

President Obama discussed the American Jobs Act and a housing plan outside Jose and Lissette Bonilla's home in Las Vegas on Oct. 24, 2011.

The Obama administration recently unveiled a string of proposals to help struggling homeowners and get the housing market back on its feet as part of the administration's "We Can't Wait" election year to-do list. Of course, the White House has made big promises before about helping homeowners.

21 February 2012

Cora Currier, ProPublica

Company to buy Hooters casino with $60 million credit bid

Hooters hotel-casino just off the Las Vegas Strip.

The main creditor of the Hooters hotel-casino in Las Vegas won the right Friday to take over the property and — importantly — its cash. The creditor, Canpartners Realty Holding Company IV, will buy Hooters Las Vegas with a $60 million credit bid under a sales plan approved by U.S. Bankruptcy Judge Bruce Markell during a hearing Friday. Hooters had been marketed to other potential buyers, but no other party submitted a qualified bid for the property.

17 February 2012

By Steve Green

Local foreclosure rankings steady and high in January

Nevada and Las Vegas maintained their No. 1 and No. 5 rankings, respectively, on the national foreclosure activity lists in January.

15 February 2012

By Steve Green

Nevada Supreme Court weighing HOA collection agency dispute

A stagnant pool is shown in Ventana Canyon in Henderson, whose homeowners association was sued by investors.

The Nevada Supreme Court waded Wednesday into the first of what may be multiple cases pitting homeowner associations and their collection agencies against buyers of foreclosed homes.

15 February 2012

By Steve Green

Cortez Masto: Settlement just one part of Nevada mortgage fix

Nevada’s attorney general said Friday this week’s settlements with banks over foreclosure abuses are just one part of a process aimed at stabilizing home prices and investigating wrongdoing in the field.

10 February 2012

By Steve Green

FDIC seeks $86 million from officers of failed Nevada bank

Regulators filed suit Thursday in Las Vegas against four officers of the failed Silver State Bank, demanding more than $86 million in damages for “gross negligence and breaches of fiduciary duty.”

9 February 2012

By Steve Green

Critics call foreclosure settlement 'a slap in the face' to affected Nevadans

A home sits foreclosed and unoccupied in the 4500 block of E Sun Valley Drive, Thursday Dec. 15, 2011. A group of organizations and individuals are rallying together to put pressure on the Obama Administration to reject the 50 state settlement with Wall Street banks.

At first glance, Nevada’s $1.5 billion settlement with banks over mortgage servicing and foreclosure problems seems like a lot of money. But for the consumers and their attorneys most affected, the deals announced Thursday are woefully inadequate.