Keep track of the latest ups and downs of the Southern Nevada housing market and property values with coverage and information by the Las Vegas Review-Journal. HOME STATISTICS
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FORECLOSURES IN NEVADA
In-Depth Report - Oct. 24, 2010
• Silver State has extra helping of bad debt to Freddie Mac, Fannie Mae
• Democrats, Republicans, differ on approach to mortgage firms
• A look at Nevada's contribution to the foreclosure crisis
• Fannie Mae and Freddie Mac losses in Nevada
Henderson home sites snapped up by builder
Home builder D.R. Horton has purchased 275 residential lots at Whitney Mesa Estates in Henderson for $7.5 million, another sign that the new-home market in Las Vegas is bouncing back. The transaction shows home... 1 comment
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Las Vegas new-homes sales jump 34.5 percent in April
Las Vegas' new-home market continues to improve with 347 sales in April, a 34.5 percent increase from the same month a year ago, Home Builders Research reported Wednesday. For the year to date, new-home closings have... 4 comments
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U.S. sales of houses increase
WASHINGTON - Americans bought more previously owned homes in April, a hopeful sign that the weak housing market is gradually improving. The National Association of Realtors said Tuesday that home sales rose 3.4 percent... Add a comment!
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Aliante HOA works to dispel negative associations
Seven men and women volunteer to govern the Sun City Aliante homeowners association. They also hold the distinction as the first and only HOA board in Nevada to complete the Community Associations Institute's... 1 comment
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Henderson entrepreneur recognized for GreenStone building product
Tourists, drink up. Scott McCombs needs your empty bottles. He has things to build. McCombs, founder of Henderson-based Realm of Design, recycles glass bottles into a building product called GreenStone, which he used... Add a comment!
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Las Vegas new-home permits surge in first quarter
WASHINGTON - Builders broke ground on more homes than anticipated in April, indicating the residential real estate industry is stabilizing. Starts rose 2.6 percent to a 717,000 annual rate from March's revised 699,000... Add a comment!
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Foreclosure starts continue to fall in Nevada, the West
Foreclosure starts continued to decline in Nevada and other Western states in April, offsetting small gains in new foreclosure filings from the previous month, ForeclosureRadar.com listing service reported Tuesday. In... 8 comments
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Chances open up for Las Vegas downtown living space
Developer Jeff LaPour took an early shot at downtown redevelopment, buying the landmark Holsum bread factory on Charleston Boulevard in 2004 and converting it into Holsum Lofts, originally designed as a live-work... 14 comments
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Nevada's housing debt outlook gets better
Nevada had the second-highest mortgage delinquency rate in the nation in the first quarter at 11.16 percent, well above the national rate of 5.78 percent, TransUnion credit bureau reported Wednesday. While Nevada is... 3 comments
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Las Vegas home prices rise with fewer homes for sale
Home prices rose for the third straight month in April and the inventory of listings shrank to a five-week supply, the Greater Las Vegas Association of Realtors reported Monday. The median price for 3,185 single-family... 23 comments
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Neighborhood Lift program aims to help locals buy homes
Thomas Lavender was happy to learn Friday that he had qualified for $15,000 from the Neighborhood Lift program to make the down payment on a home in Las Vegas. That's a small hurdle compared with finding the right... 6 comments
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Judge unseals HOA cases, pledges to keep process open
U.S. District Judge James Mahan on Tuesday unsealed and consolidated the cases against 14 new defendants in the federal investigation into fraud and corruption at Las Vegas Valley homeowners associations. 27 comments
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Analyst revises upward his projection for new homes
The battered new-home segment is coming back slightly in Las Vegas as resale inventory tightens and prospective buyers find themselves competing against multiple offers from cash investors, housing analyst Dennis Smith... 11 comments
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City, bank officials tout program to boost Las Vegas homeownership
Las Vegas' housing market, among the worst in the nation, will get a boost from a new homeowner assistance program. Officials from Wells Fargo bank and the city of Las Vegas announced about $9 million will be available... 42 comments
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Man sentenced in Las Vegas mortgage fraud case
A man who was indicted in connection with Operation Stolen Dreams, a nationwide initiative aimed at combating mortgage fraud, was sentenced Wednesday to 27 months in prison. 13 comments
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Phase of North Las Vegas condo project acquired
Blue Marble Development has purchased the unfinished 48-unit third phase of Pecos Creek condominiums at 1830 N. Pecos Road in North Las Vegas for $750,000, or roughly $15,000 a unit, the company president said... Add a comment!
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Autumn Chase Homeowners Association calms, feels aftereffects
The North Las Vegas community made headlines in recent years due to the exploits of former association president Joseph Bitsky. A YouTube video of Bitsky trading barbs with homeowner Joe Salvatore went viral,... 3 comments
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Las Vegas new-home prices rise
Median prices for new homes in Las Vegas rose in March and climbed above year-ago levels, a report Thursday from SalesTraq housing research firm showed. 15 comments
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Report: Foreclosures down sharply in March
The number of foreclosure properties sold at auction, or trustee sales, dropped steeply for the second straight month, a March report from online listing service ForeclosureRadar.com shows. In Clark County, foreclosure... 10 comments
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Down payment aid offered by Wells Fargo in select areas
Wells Fargo is offering down payment assistance of up to $15,000 for qualified home buyers in Las Vegas through the Neighborhood Lift program designed to attract prospective home buyers to neighborhoods struggling with... 6 comments
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U.S. foreclosure activity rises, but Nevada tumbles 62 percent
LOS ANGELES -- More U.S. homes are entering the foreclosure process, setting the stage for a surge in properties repossessed by lenders this year. The number of homes that received first-time foreclosure notices rose 7... 23 comments
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Homebuilder gets OK to wipe out price promises
A U.S. Bankruptcy Court judge on Tuesday allowed homebuilder American West Development to legally wipe out a price promise and price guarantee that were supposed to reimburse homebuyers if the value of their homes fell... 41 comments
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Single-family home inventory down to six-week supply
The inventory of single-family homes available for sale in Las Vegas without a contingent or pending offer dropped to 4,901 in March, about a six-week supply at current sales level, the Greater Las Vegas Association of... 5 comments
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PHOTOS: Sour economy handicaps Coyote Springs project
The 40,000-acre Coyote Springs development, with plans of building 160,00 homes, has been marred by the economic downturn. The development and Coyote Springs Golf Club is located on U.S. 93 about 60 miles northeast of... 1 comment
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Realtors association receives $86,000 for next 'Face of Foreclosure' report
The Nevada Association of Realtors has received an $86,000 grant from the National Association of Realtors to produce its next "Face of Foreclosure" report on the state's foreclosure crisis. The report has been... 4 comments
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Foreclosure relief companies ordered to cease and desist
Two foreclosure relief companies have been ordered to cease and desist operations as a result of offering bogus loan modification assistance, primarily to Hispanic and Spanish-speaking homeowners. The Mortgage Lending... 3 comments
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Home price 'promise' eludes valley buyers
When American West Development Inc. touted its price promise as an antidote to plunging home sales four years ago, it pushed first-time buyers Chris and Tammy Bryant into starring roles in its promotions. 55 comments
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Bill forgives taxes on modified home loans
WASHINGTON -- A new bill in Congress would forgive some taxes for distressed homeowners who modify their mortgages under the $25 billion national bank settlement reached last month. The bill would waive tax liability... 5 comments
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Report: Housing weighing on Las Vegas recovery
Someday, we'll be able to stop talking about the pain the housing market is inflicting on the broader local economy. This isn't that day. A report released today by the Brookings Institution's Metropolitan Policy... 8 comments
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Number of available Las Vegas homes drops
WASHINGTON -- The number of Americans who signed contracts to buy U.S. homes dipped in February from nearly a two-year high, a mixed signal ahead of the spring home-buying season. The National Association of Realtors... 6 comments
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More in Las Vegas now rent than own
Las Vegas is now a city of renters, though it's far less expensive to buy a home here than to rent one. From a peak of 64 percent in 2000, as measured by the U.S. census, Las Vegas Valley home ownership is now at 48... 38 comments
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Bank of America experiments with foreclosure alternative
Bank of America has mailed invitations to nearly 1,000 customers at risk of foreclosure in Nevada, Arizona and New York to participate in a mortgage-to-lease pilot program, a spokeswoman for the bank said... 7 comments
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Couple gets reduced payment, lower interest rate at homeowner workshop
John and Queenesthra Moore of Henderson attended Wells Fargo's homeowner workshop Wednesday with low expectations of getting a loan modification approved on the spot. It hadn't happened for them at previous... 15 comments
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Las Vegas analyst expects home permits to rise in near future
U.S. builders started work on slightly fewer homes in February. But they began laying the ground work for a turnaround later this year by requesting the most building permits in any month since October 2008. The... 4 comments
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Foreclosed properties scrutinized at Las Vegas hearing
U.S. Rep. Joe Heck's congressional office recently helped a senior couple refinance their mortgage. Working with their bank, the pair got a 30-year, fixed-rate loan that dropped their monthly payments from more than... 59 comments
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Analyst: Market conditions help boost new-home sales
Las Vegas' new-home market is undergoing a temporary sales surge because of the low inventory of existing homes and the poor condition of foreclosed homes, a local analyst said Wednesday. Home Builders Research... 5 comments
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Siegel Group owner says disputes have been settled
Real estate investor Stephen Siegel said the move to impose a receiver on three of his Las Vegas suite properties has been settled on undisclosed terms. 6 comments
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Foreclosure wave looks more like a drought
The foreclosure wave that was predicted to hit Las Vegas is starting to look more like a drought, a report from ForeclosureRadar.com showed Tuesday. Foreclosure starts in Clark County dropped to 977 in February, down... 9 comments
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Interest in new homes helps Pardee mark 60 years
When Pardee Homes built its first house in Las Vegas, nobody had heard of Elvis and you could talk to Howard Hughes without a Ouija board. 3 comments
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Hurting homeowners line up for help at Cashman Center
Asked what he expected to get at Friday's homeowner event at Cashman Center, Las Vegas real estate investor Rick Korbel answered, "Honestly, nothing." Then why was he standing in line with hundreds of other... 20 comments
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Longtime Home Builders chief retiring
Irene Porter is retiring effective July 1 after nearly 35 years as executive director of the Southern Nevada Home Builders Association. 3 comments
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Home shortage in Las Vegas? In foreclosure deals yes, Realtors say
House hunters can't be as picky in Las Vegas today as they were a year ago, especially if they're looking for a bargain on a foreclosure home. There's actually a shortage of those homes, roughly one month's supply at... 14 comments
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Heck bill offers 'second chance' to foreclosed homeowners
WASHINGTON -- People who have lost their homes in foreclosure could be given another chance to buy a house under a bill introduced Thursday in Congress. 29 comments
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Home sales, prices rise; inventory dips
Sales of single-family homes in Las Vegas and their median price increased in February from the previous month, while the inventory of homes available for sale continued to decline, the Greater Las Vegas Association of... 6 comments
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Democrats step up pressure for mortgage write-downs
WASHINGTON -- A day after President Barack Obama announced new offers of mortgage relief to troubled homeowners, a bloc of Democrats sought to increase pressure on him to do more. A half-dozen lawmakers called on... 28 comments
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Man gets prison in mortgage fraud scheme
A man charged in connection with Operation Stolen Dreams, a nationwide crackdown aimed at combating mortgage fraud, was sentenced Wednesday in Las Vegas to 27 months in prison. Michael Capodici was indicted with three... 2 comments
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Mortgage relief aimed at U.S. military
WASHINGTON -- President Barack Obama unveiled mortgage relief efforts Tuesday, including several aimed at helping service members trapped in the housing downturn or victimized by lenders. 23 comments
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Moderate home-sales gains have yet to boost prices, index shows
WASHINGTON -- Home prices fell in December for a fourth straight month in most major U.S. cities, as modest sales gains in the depressed housing market have yet to lift prices. The Standard & Poor's/Case-Shiller... 9 comments
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Las Vegas loses standing as mortgage-fraud capital
Once identified as ground zero for mortgage fraud, Las Vegas no longer is among the nation's top five regions for mortgage fraud per capita, according to CoreLogic, a consumer financial information and research firm. 14 comments
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Home-sales agreement signings shown to rise in January
WASHINGTON -- The number of Americans who signed contracts to buy homes rose in January to the highest level in nearly two years, supporting the view that the housing market is gradually coming back. The National... 2 comments
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Housing market sales rise 13 percent nationwide
WASHINGTON -- The housing market is flashing signs of health ahead of the spring-buying season. Sales of previously occupied homes are at their highest level since May 2010. More first-time buyers are making purchases.... 9 comments
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Blue Heron design chosen for International Home Builders Show
Custom home builder Blue Heron is building the New American Home for the International Builders Show coming to Las Vegas in January, the second time the company has been selected as the featured builder for the... 8 comments
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Las Vegas new-home sales report gloomy
Rising optimism among national home builders has yet to spread to Las Vegas, where new-home sales totaled just 216 in January, down from 237 in the same month a year ago and the lowest level on record, Home Builders... 12 comments
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Las Vegas home values dip for second straight year
As miserable as the housing market has been in Las Vegas, Sherry Stidhum didn't want to sit on the sidelines waiting for the upswing. The high school teacher at Advanced Technologies Academy purchased her first home... 48 comments
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Banks boost Nevada foreclosure starts, but numbers still down
Banks significantly stepped up foreclosure starts in Nevada and other Western states in January, but the numbers are down from a year ago, Discovery Bay, Calif.-based ForeclosureRadar.com reported Thursday. 11 comments
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Homebuilder optimism rises; local builder seeing 'good traffic'
U.S. homebuilders are gradually growing more optimistic about the depressed housing market and believe homes sales could pick up sharply at the beginning of 2012. The National Association of Home Builders/Wells Fargo... 5 comments
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Nevada's late-payment record improves
NEW YORK -- Late payments on mortgages ticked up in the last three months of 2011, the second straight quarter-to-quarter increase after nearly two years of steady decline, but there were improvements in Nevada. 2 comments
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Heller bill would let people losing homes rent with hope of regaining ownership
WASHINGTON -- Overshadowed Thursday by the massive mortgage settlement between the states and major banks was the introduction of a Senate bill that could allow people to remain as renters after their homes are... 13 comments
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Court takes up appeals from foreclosure mediation program
CARSON CITY -- Nevada's Supreme Court has begun acting on appeals filed by residents trying to avoid home foreclosures through assistance from the state Foreclosure Mediation Program. In opinions issued Thursday,... 5 comments
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Housing settlement called 'just a beginning'
The $1.5 billion that Nevada homeowners stand to receive from the $25 billion foreclosure abuse settlement with the nation's five largest mortgage servicers "is just a beginning, and not an end," state... 16 comments
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Nevada joins states in $25 billion foreclosure abuse deal
Nevada, one of the states hardest hit by the collapse of the housing market, will get an estimated $1.5 billion from a $25 billion nationwide settlement over foreclosure abuses, Attorney General Catherine Cortez Masto... 89 comments
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More work predicted for house builders
LOS ANGELES -- The U.S. housing market will begin to mount a turnaround this year, building toward a solid recovery in 2013, according to a forecast issued Wednesday by the chief economist of a homebuilding industry... 6 comments
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Foreclosure settlement gains three more takers
WASHINGTON -- Arizona, Michigan and Florida, three of the states hit hardest by the housing crisis, will join a nationwide settlement over foreclosure abuses, sources said Tuesday. They will join more than 40 other... 4 comments
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Home prices keep falling in January
Home prices started the year nearly as dismally as a year ago by falling 5.6 percent in January, the Greater Las Vegas Association of Realtors said Tuesday. Realtors showed a median single-family home price of... 16 comments
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Holdout states nearing deal
WASHINGTON -- Nevada, California and New York, the key holdouts in a long-awaited settlement over foreclosure abuses, moved closer Monday to backing a deal that would force the five largest mortgage lenders to reduce... 3 comments
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Analyst: Las Vegas home prices expected to keep dropping
Home prices in Las Vegas will continue to slide for the next six months and recovery won't come until banks open up the spigot on foreclosures, housing analyst Dennis Smith said Thursday in his annual housing outlook... 34 comments
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Home prices continue to drop
WASHINGTON -- U.S. home prices fell for a third straight month in Las Vegas and in nearly all other cities tracked by a major index. The declines show that most homeowners are not reaping the benefits from an improving... 5 comments
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Administration to extend homeowner aid program
The U.S. Treasury Department announced Friday it would extend the Obama administration's Home Affordable Mortgage Program another year through Dec. 31, 2013, in an effort to help struggling homeowners stay in their... 7 comments
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Report lauds Nevada's foreclosure mediation program
A Justice Department report released last month praises the Nevada Foreclosure Mediation Program, saying it provides a road map for other states to follow in addressing the continuing fallout from the housing crisis. 5 comments
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Majority of Nevada home sales are foreclosures
Nevada led all states with foreclosure sales accounting for nearly 57 percent of all home sales, RealtyTrac said Thursday. Several other states had foreclosure sales that made up at least 20 percent of all homes... 11 comments
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Local companies urged to offer housing assistance for workers
Recognizing that it's probably not a good time to lean on employers for extra benefits, a group of business and government leaders are nonetheless urging local companies to offer assistance for workers to rent or buy... 22 comments
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Papers in foreclosure cases ruled insufficient
The Nevada Supreme Court has added teeth to the state's foreclosure mediation program in a pair of rulings that require lenders to produce all required documents before repossessing a house. 1 comment
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Another rough year forecast for Las Vegas housing
The Las Vegas real estate market is headed for another tough year, analyst Larry Murphy said Friday. The president of research firm SalesTraq projected more foreclosures and as much as a 10 percent decrease in home... 34 comments
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European recession may spur more Las Vegas real estate investment
The risk of deeper recession in Europe could encourage more Europeans to invest in U.S. real estate markets such as Las Vegas, an economist for Trulia.com said Thursday. Las Vegas ranks No. 8 among cities in the United... 1 comment
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CityCenter forms partnership with Sotheby's to sell luxury condominiums
In an effort to drive luxury condominium sales, CityCenter has announced a partnership with Sotheby's International Realty to market The Residences at Mandarin Oriental and Veer Towers. The collaboration, which is led... 9 comments
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Prices tumble for high-rise condos
High-rise condominiums in Las Vegas are being snapped up by investors at about half the price asked when the units first came on the market, brokers who market the units said. Prices have dropped across all segments of... 24 comments
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Las Vegas new home sales tumble to 23-year low
Las Vegas new home sales fell to a 23-year low in 2011, according to a report Monday by a real estate research firm. Economists say Las Vegas is on the road to recovery but the home building industry is years away... 37 comments
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Foreclosure starts down sharply in December
Foreclosure starts in Nevada dropped significantly in December, along with time to foreclose, which normally gets extended during the holidays, ForeclosureRadar.com reported Thursday. In Clark County, notice of default... 23 comments
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Luxe Lofts sale leads condo market revival
When a structure's value drops 80 percent below its construction cost, stalled condominium projects such as Luxe Lofts in Las Vegas find takers, even in the country's most depressed real estate market. Patrick Humes... 4 comments
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Las Vegas home sales set record
Institutional and private investors contributed to a record year for Las Vegas home sales in 2011, but prices are being held down by cautious appraisers and the high number of foreclosure sales, real estate brokers and... 17 comments
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Occupy Las Vegas protesters target foreclosed homes in valley
About 20 Occupy Las Vegas protesters spread out across the valley and spent Saturday knocking on the doors of homes facing foreclosure in hopes of contacting homeowners and their neighbors. 74 comments
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Nevada Supreme Court takes up foreclosure case
CARSON CITY -- The Nevada Supreme Court weighed arguments Wednesday on whether U.S. Bank can foreclose on a Douglas County couple's home even though not all required documents were presented during mediation. 14 comments
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