Las Vegas Real Estate News

Las Vegas told to sober up, face its economic woes

Las Vegas needs to get over its hangover and face its economic woes before casting blame and seeking any federal solution, said a member of a commission studying the nation’s financial meltdown.

8 September 2010

By Buck Wargo

Federal panel probing financial crisis visiting Las Vegas

Las Vegas will take center stage today when a federal commission hears testimony about the impact of the nation’s financial crisis on the Southern Nevada economy and real estate market.

8 September 2010

By Buck Wargo

Investors take on HOAs, and residents might suffer

A view of the master-planned community Mountain's Edge in the southwest Las Vegas Valley on Friday, Aug. 6, 2010.

The crippled Las Vegas housing market has triggered a legal battle pitting investors buying foreclosed homes against homeowners associations, with millions of dollars at stake. The two groups are more likely viewed by the public with equal disdain.

7 September 2010

By Buck Wargo

Richmond American, local executive sever relationship

The builder poised to take over the No. 1 ranking in home sales in Las Vegas by the end of the year has parted ways with its division president.

3 September 2010

By Buck Wargo

Walking away from a mortgage comes with risks

The news is bad enough that three homeowners out of four in the Las Vegas Valley owe more on their houses than they’re worth. And there’s no comfort in the prediction that the local real estate market won’t recover for years.

3 September 2010

By Buck Wargo

Plan for 238 new homes in Mountain's Edge advances

Despite dropping sales since 2008, developers still are planning new projects in Mountain’s Edge. Lennar Homes received preliminary approval for a 238-unit single-family home community.

2 September 2010

By Dylan Scott

20-city index shows Las Vegas alone in home price decline

On the market: Homes are shown for sale in Sun City Anthem.

Las Vegas-area home prices fell again in June as high unemployment and foreclosures continued to dampen the market. Debt-rating agency Standard & Poor's today issued its monthly S&P/Case-Shiller Home Price Indices, and they once again show the Southern Nevada real estate market continues to lag the national market.

31 August 2010

By Steve Green

3 indicted in alleged foreclosure rescue scam

Three people were indicted on multiple felony charges Monday for allegedly operating a foreclosure rescue scam in Las Vegas during 2008 and 2009, according to the Attorney General's Office.

30 August 2010

By Jackie Valley

One shopping center is in foreclosure, second expands

One shopping center on Las Vegas Boulevard faces foreclosure, while another is moving ahead with expansion during the recession.

27 August 2010

By Buck Wargo

Rate of foreclosures declines in Nevada

The delinquency rate for mortgage loans in Nevada fell in the second quarter and the percentage of loans in which foreclosures were started declined as well, according to a report released today by the Mortgage Bankers Association.

26 August 2010

By Buck Wargo

Construction dip, unemployment hurt extended-stay motels

The downturn in the construction industry and high unemployment that deter people from moving to Las Vegas have taken a toll on the extended-stay motel business. Occupancy has fallen sharply since the recession began, and room rates have been lowered to lure visitors.

25 August 2010

By Buck Wargo

Mortgage rescue scam operator sentenced in Las Vegas

The operator of a mortgage rescue scam run from the Philippines was sentenced Tuesday in Las Vegas and will be required to pay partial restitution to his victims.

24 August 2010

By Kyle B. Hansen

Construction industry is no fan of federal stimulus

Don’t list the Las Vegas construction industry as one of the big fans of the $787 billion federal stimulus.

20 August 2010

By Buck Wargo

AG announces campaign to fight foreclosure scams

Nevada’s foreclosure pandemic has attracted a slew of scam artists hoping to take advantage of homeowners desperate to avoid losing their homes. In response, officials announced a public awareness campaign to help citizens spot fraud.

17 August 2010

By Dylan Scott

Sales of new homes slide, homebuilder confidence shaken

Six of seven months of this year the number of new-home sales has topped last year's numbers, but signs show the demand for new homes might drop after the expiration of a federal tax credit.

Sales in the Las Vegas new-home market tumbled in July in a sign the expiration of a federal tax credit could hamper the industry the rest of the year. SalesTraq reported this morning that the 408 closings of new homes in July represents a 58 percent decline from June, when 983 closings were reported.