Local homebuilder American West unveiled its latest collection — American West Reserve at Coronado Ranch — at a May 6 grand opening preview event that included a presentation by Las Vegas real estate authority Richard Lee, who said a turnaround is coming in the local market.
A District Court judge last week dismissed one of two class action lawsuits filed by investors buying Las Vegas-area foreclosed homes, setting the stage for at least some compromise with collection agencies the investors claim are overcharging them.
The number of homes delinquent in their mortgage payments continued to rise in the Las Vegas valley, and banks foreclosed on a greater number of homes statewide in April than March, according to California-based real estate research firms.
The owners of a Las Vegas real estate school have been sued over allegations it's infringing on a trademark by offering a course leading to a Certified Distressed Property Designation (CDPD).
The federal tax credit designed to spur home sales appears to have ended on a whimper in Las Vegas and may foretell a downturn in the housing market in the coming months, analysts said.
Las Vegas continues its overall No. 1 ranking in troubled commercial assets despite clearing up some of its bad loan problems, according to New York-based Real Capital Analytics.
A federal homebuyer tax credit is set to expire June 30, but a Las Vegas real estate brokerage is participating in a program designed to mimic its effect.
Las Vegas continued to post the nation’s highest metropolitan foreclosure rate during the first quarter. California-based RealtyTrac said one in 28 housing units received a foreclosure filing in the first quarter, nearly five times the national average.
Las Vegas home prices fell again in February as measured by the widely-followed Standard & Poor's/Case-Shiller Home Price Indices -- but they declined at a slower rate. S&P said Las Vegas prices fell 0.4 percent from January to February.
William Palacios had nowhere to turn the day he walked into Democratic Rep. Dina Titus’ office in Las Vegas. The bank was preparing to foreclose on a house he had bought for $250,000 four years before on a block where they were now selling for $90,000.
Heirs of the late billionaire Howard Hughes filed an objection Friday to a plan in the General Growth Properties Inc. bankruptcy case in which the Las Vegas planned community of Summerlin would be spun off into a separate company.
The arrival of spring brought out more homebuyers in March with Las Vegas-area sales rising 33 percent over February, but local housing analysts and Realtors fear the expiration of a homebuyer tax credit at the end of April could slow sales in coming months.
