A Colorado management company has bought Stallion Mountain Golf Club for $3.8 million, three years after it was closed by foreclosure. Tartan Golf, which selected OB Sports to manage the course, plans to reopen it within 30 days.
The recovery for Las Vegas’ retail real estate market appears to be short lived. Colliers International Las Vegas reported the vacancy rate rose during the second quarter and the retail market is tailing off.
Foreign buyers purchased 3 percent of the homes sold in Las Vegas during May, and Canadians led the way by an overwhelming margin, according to a report released today by San Diego-based research firm DataQuick. In a review of public records, DataQuick said investors and second-home buyers purchased 46.2 percent of all homes sold in May, down from a record 49.9 percent in March.
Brokerage firm interprets numbers as meaning Las Vegas starting to attract tenants
Monday, June 27, 2011
The office and industrial vacancy rates in the Las Vegas area fell during the second quarter, prompting a brokerage firm to suggest the city is starting to attract tenants.
Las Vegas homeowners will have to wait until 2020 to get back half the value of their home lost during the housing collapse and more than 20 years before getting it all back, according to a Pennsylvania research firm. The struggle of the housing market, in part, is why Moody’s Analytics forecasts the economic recovery will be slow in Southern Nevada.
The demand for existing homes in Las Vegas strengthened in May but that hasn’t stopped prices from falling, according to statistics released today by SalesTraq.
A modest economic recovery under way will get stronger in the second half of this year and continue its gains in 2012, according to an assessment released today by UNLV.
Close your eyes. Imagine Glen Lerner’s jingle. You can dial his number from memory, can’t you? In this age of speed dialing and cellphone-programmed contacts, how many telephone numbers can you remember?
Nevada foreclosure filings in May fell 6 percent from April, but the state and Las Vegas retained their No. 1 ranking in the nation, a California firm reported. Nevada had 11,039 foreclosure filings in May, meaning one in every 103 homes had some type of foreclosure filing, RealtyTrac reported.
The Las Vegas economy may be improving but little of that is translating to the construction industry, according to a group that represents contractors.
Falling home prices in Las Vegas and prospects they won’t recover soon may trigger a new wave of people walking away from their homes. That’s the concern of those who track the Las Vegas housing market, which is undergoing its own mini version of a double-dip decline in prices.
A 23.53-acre property at the Las Vegas Beltway and Hacienda Avenue that sold for $30.2 million in 2007 and was later foreclosed upon has been sold for $4.4 million.
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.
The weakening national economy has prompted pessimism among Las Vegas business executives about the local recovery, especially when it comes to hiring, according to survey conducted by UNLV.
Fifty-one of 63 ZIP codes in Clark County recorded home-price declines in the first quarter, according to a San Diego-based research firm. Eleven ZIP codes reported price increases.
James Barrett Jr., the Marnell Companies' senior financial adviser and a member of the board of directors, announced his retirement from the company, effective July 1. Barrett has been with the company for almost 30 years.
A prominent real estate economist said the housing market will weaken further but he expects the Las Vegas economy to “pick up steam in 2012” and really start to “take off” in 2013 and 2014.
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.
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 retail industry is faring its best since 2008, but analysts cautioned it could take another four to five years before it fully recovers. “We’re in the best shape we been in three years, and the last six months is the strongest position we have been in as a shopping center industry in that time,” said Nick Hannon of Territory Inc.
Las Vegas has become even more a city of renters during the past decade and has seen a large increase in vacant housing units, according to the latest data released by the U.S. Census Bureau.
White House to Las Vegas: Let’s try this again. “I think (President Barack Obama’s) message got blown way out of proportion for what he was intending ...” said Valerie Jarrett, a senior White House adviser.
Nevada bank repossessions jumped 23 percent in April to an all-time high, but the pipeline that leads to foreclosures has slowed down dramatically, according to a report from a California research firm.
Las Vegas apartment occupancies rose during the first quarter and that helped to increase rents, according to numbers released today by a research firm.
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.
For the first time in most of our lifetimes, the key element to achieving the American Dream—owning a home—is taking a beating. Today’s question: Is renting really so bad?
Monday, May 16, 2011
I can hear Grandpa in my head. Owning a home was a huge part of the American Dream, and it was dutifully drummed into my head as long as I can remember. Only people who wanted to be poor threw money away on rent, I was told, over and over.
With Las Vegas’ retail vacancy rate remaining above 10 percent, this year’s convention of the International Council of Shopping Centers can help fill some of that space.
Nevada has cleaned up its act when it comes to cases of mortgage fraud, according to a new report. For the third consecutive year, Nevada has stayed out of the top 10 states in cases of mortgage fraud and misrepresentation.
Southern Nevada home sales fell sharply in April and the median price of homes sold held steady, according to statistics released this morning by the Greater Las Vegas Association of Realtors.
Horace Greeley once said “Go West, young man,” if an ambitious person wanted to succeed. The women who’ve ventured to Nevada have certainly found that true. Over the past 14 years, women have made the state one of the best places to start a business.
A Las Vegas research analyst said today the number of homeowners who are delinquent in their mortgage payments suggests the region is only halfway through its housing crisis. A report released today by California-based research firm CoreLogic said the 90-day delinquency rate for homeowners improved in February.
Investors purchased a record half of all Las Vegas homes sold in March, according to a San Diego research firm that began tracking the trend in 2000. The sales figure was 49.9 percent, which is up from 41.5 percent in March 2010, according to MDA DataQuick.
The recession took a deeper toll on high-end luxury in Las Vegas than the rest of the country and the market will take longer to recover than others, the chief executive of Saks Inc. said.