The closing date for developer Chris Milam to take control of about 480 acres of Henderson desert, which had been proposed for a sports arena complex, has been extended yet again amid fraud allegations.
With the Nevada Legislature back in session today, a real estate lobbying group has a slate of issues it wants lawmakers to consider. The most important is whether to change the state’s controversial “robosigning” law. The Nevada Association of Realtors is pushing for changes to the law while at the same time trying to downplay its impact on business.
Southern Nevada alcohol distributor and philanthropist Larry Ruvo will receive a Horatio Alger Award, given to people who overcome obstacles to become successful entrepreneurs and community leaders. Ruvo, one of 11 recipients this year, will receive the award in April at the 66th annual Horatio Alger Awards Induction Ceremonies in Washington, D.C., organizers announced this week.
NV Energy is trying to quash a utility contract of a much smaller power company, claiming the nonprofit Valley Electric Association is encroaching on its territory at Creech Air Force Base.
If you’re hunting for a deal on a bank-owned house, don’t bother looking in Las Vegas. The valley is expected to be one of the worst regions in America to buy a foreclosed home this year, according to a new report from RealtyTrac. The research firm ranked Las Vegas fourth from the bottom. The valley has only seven months worth of foreclosure inventory and a 17 percent price discount, says RealtyTrac.
A Southern California real estate investor has picked up seven more commercial buildings in the Las Vegas Valley. Ed Mustafa, managing member of the Brentwood Cos., acquired several properties off Green Valley Parkway near the 215 Beltway last month. He and his partners paid almost $23 million for the buildings, which total 235,000 square feet.
Some 62.5 percent of Nevada households have less than three months of savings to rely on in the event of a job loss, medical crisis or other financial emergency.
A fast-food franchisee has sold 18 Wendy’s restaurant buildings in the Las Vegas Valley. But don't worry. The restaurants likely aren't going anywhere.
Gavin Maloof must be pretty confident these days. Not only did his family agree to sell for a whopping half-billion dollars the Sacramento Kings, but he upped the price on his Southern Highlands mansion by 60 percent — to $12 million.
If you worry that the Internet, computers and other electronics play an outsized role in daily life, futurist Ray Kurzweil has one message for you: This is only the beginning.
Las Vegas' business power brokers are gathered this morning for Preview Las Vegas, the Las Vegas Metro Chamber of Commerce’s premier networking event, at UNLV. An estimated 2,000 people are in attendance — the largest number since 2008.
A month after buying most of the remaining condos at CityCenter's Veer Towers, East Coast investors are putting 100 units back up for sale today. Executives with Ladder Capital and Pordes Residential Sales & Marketing plan to sell their 427 condos in phases, said Las Vegas broker Jim Navarro, who is overseeing the efforts at the Strip complex. It will take about three years to sell the entire portfolio, he estimated. Navarro and six salespeople will work out of a 30th-floor suite in the development's west tower.
Las Vegas home values are expected to rise this year, though not as fast as in 2012. After hitting bottom last spring, home values are projected to rise 3.1 percent by the end of the year.
More Las Vegans than normal signed up to carry a concealed firearm after the Connecticut elementary school massacre, Metro Police records show. Between Dec. 14 — the day of the shooting — and Jan. 14, Metro Police received 1,398 applications for permits to carry a concealed firearm.
If you want to buy a house in Las Vegas, be prepared to be patient. Short sales, which can take up to a year or longer to close, have soared to record levels in the valley. They now account for almost half of all home sales and show no signs of slowing.
A North Las Vegas company, Bigelow Aerospace, has received an $18 million contract from NASA to test space-habitat technology, officials announced today.
Federal prosecutors have charged 11 more people in Las Vegas Valley with a complex scheme to take control of local homeowners’ associations and steer business to a law firm and construction company.
A consortium of private companies has taken over management of on-campus housing at UNLV. AVS Housing Group began overseeing the university’s six-building residence hall system, with 1,450 beds, on Jan. 1.
Guns and ammunition are flying off the shelves in Las Vegas. The fear of heightened regulation has sent people streaming into valley gun stores for gear and training. But the rush on guns, while good for the local economy, could hurt the valley's image.
Federal workplace safety regulators say they have found nearly 60 health and safety violations at Hoover Dam, painting a bleak picture of working conditions at the iconic hydroelectric power plant. The U.S. Department of Labor’s Occupational Safety and Health Administration, or OSHA, announced Monday it found 50 “serious” and eight repeat violations at the dam 30 miles southeast of Las Vegas.
Research clinic being built; homes will cater mainly to people who are at least 50 and have mental impairments
Monday, Jan. 14, 2013
Gerald Bowie flashes a toothless smile. The 60-year-old man lost many of his teeth to disease. He has dangerously high blood pressure, his corneas have been replaced and, instead of words, he often utters just sounds.
Las Vegas office buildings filled up a bit more last year but still had the largest percentage of empty space in the country. The Las Vegas Valley had a 25.8 percent office vacancy rate in the quarter ending Dec. 31.
A $5 million hospice center is set to open this spring in the southwest Las Vegas Valley. Infinity Hospice Care started construction in fall on a two-building, 19,000-square-foot campus on South Jones Boulevard near the 215 Beltway.
A city where many homeowners are deep underwater, Las Vegas also has one of the lowest rates in the country of residents who own their homes free and clear.
Facing pressure from state officials and customers, NV Energy will let ratepayers continue using old-style meters instead of switching to new digital ones.
Tobie Ortiz’s house doesn't seem like a hot property. When she bought the bank-owned home last year, permanent marker and puff paint marred the walls. Siding was damaged, door frames were broken, and fence slats were missing. Still, Ortiz faced stiff competition for the aging 1,000-square-foot Henderson house. She and her fiancé had to raise their offer twice, and they ended up paying almost $3,000 above the listing price.
Las Vegas home prices had a strong finish to 2012 as the valley posted one of the best sales years ever. The median price of Las Vegas Valley single-family homes sold in December was $149,000.
In a nearly $300 million deal, Las Vegas developer Terri Sturm has sold six shopping centers to an Illinois real estate giant. Inland Diversified Real Estate Trust acquired a majority stake in the centers, which total 1.7 million square feet, from Sturm’s Territory Inc.
The head of a California mining company has settled charges by the Securities and Exchange Commission that he and his firm defrauded investors in a Nevada gold-mining venture.
The Bloomingdale’s store at Fashion Show mall is slated for closure. Macy’s, which owns the high-end department store chain, said Thursday it is closing six stores nationwide this spring: the Bloomingdale’s in Las Vegas and five Macy’s locations in California, Texas, Hawaii, Minnesota and Massachusetts.
As almost anyone call tell you, Las Vegas’ real estate industry is sluggish. Still, 2012 wasn’t a total wash for real estate owners, as there were several big deals involving residential complexes and commercial buildings.
A finance executive with Turnberry West Realty and an associate have been accused of embezzling almost $6 million from the Las Vegas developer. Turnberry West Controller Hope Ippoliti and associate Rocco Lazazzaro have been charged with 24 counts of wire fraud and one count of conspiracy to commit wire fraud.
Jay Carrasco rode the real estate boom for years, and he rode it well. He worked for a home builder, earned a good salary and bought a $40,000 pickup truck. He moved around Florida and sold his homes for a profit. Later, he headed west to Las Vegas to open a satellite office for a flooring company. Then, like so many others in the valley, the recession hit him head on.
Working from a sparsely decorated office suite in a nondescript building in Henderson, Johnny Thomas and John Francis are trying to build a clean-tech empire. They're well on their way. The men have acquired two subsidiary firms for more than $17 million combined and locked up several project deals.
A Southern California residential developer has acquired 208 acres in North Las Vegas. SunCal bought the property near North Decatur Boulevard and Elkhorn Road this week for $19.8 million, the company said Friday.
A buyer linked to a New York City investment firm has paid $119 million for more than 60 percent of the condos at CityCenter’s Veer Towers. The bulk sale of 427 units, recorded Thursday in Clark County, means almost all the available inventory has been snapped up.
As the U.S. government comes closer to falling over the “fiscal cliff” and ushering in a slew of budget cuts and tax hikes next year, some analysts predict the economy will slide back into recession. Las Vegas Valley residents should be aware of several changes that could affect such things as Medicare and stock holdings if federal lawmakers fail to reach a deal. The deadline is Dec. 31.
The University of Phoenix is consolidating its Summerlin-area locations in an effort to cut costs. The for-profit education system has signed a lease to occupy part of a 3-story building next to the Nevada Cancer Institute.
Three board members at Las Vegas chemicals maker American Pacific Corp. are stepping down. The company announced Monday that Fred D. “Ted” Gibson Jr., Jane L. “Beth” Williams and Dean M. Willard plan to retire from the board of directors.
With the holidays fast approaching, front yards across the valley are decked out with light-up Santas, fake reindeer and inflatable candy canes. But some homeowners don’t wait until Christmas to decorate. A handful of homes display colorful, quirky and unusual yards year-round.
Nevada’s foreclosure rate improved last month yet remained one of the worst in the country. The state had the second-highest foreclosure rate in the United States in November.