Southern Nevada home prices and sales rebounded slightly in May, according to statistics released today by the Greater Las Vegas Association of Realtors. The median price registered a rare monthly increase, at $126,000.
Las Vegas-area home prices fell again in March as prices nationwide hit their lowest point since the start of the recession, Standard & Poor’s reported Tuesday.
With lawsuits piling up and the Nevada Legislature debating caps on fees imposed by HOA collection agencies, investors in foreclosed homes filed a new class-action complaint against more than 500 HOAs.
Nevada foreclosures accounted for 53 percent of residential sales in the first quarter and those units sold for 18 percent less than traditional sales, according to a report released by a California research firm.
A group of Nevada homeowners fighting Bank of America over the threatened foreclosures of their homes has joined a national class-action lawsuit against the bank.
Lawsuits are piling up in what attorneys call another real estate scam in Las Vegas — one in which buyers of new homes faced foreclosure a few months later because liens hadn’t been paid off during the escrow process and fraudulent title insurance policies were issued.
Eighty-four percent of foreclosed commercial properties and bank notes up for auction this week in Nevada sold for more than $341 million, prompting analysts to suggest it will set a bottom price and spur investors to jump into the market.
The Las Vegas new-home market is getting worse, while sales of existing homes remain brisk amid falling prices, according to statistics released Monday by a research firm.
