Just to make sure you’re up to date on Vegas real estate news: We’re one of the 5 cities with the biggest drop in values; commentary on the latest Obama housing proposal; and please, if you can donate something to Whitney Elementary (no relation to Scott Whitney of the Vegas Video Network! I promise!), there’s [...]
Welcome to Friday Figures! All information from the GLVAR MLS system. Touring, listing, or making a purchase offer in the Las Vegas Valley this weekend? Read this first! Summary: At 14937 available units, we’re at crunch time: does that number continue to go up by 200-300 every week, or does it level off and stay [...]
Take a look through books, blogs, and magazines oriented towards Realtors and before long you will find something on pictures for listings. Usually it runs towards tips and tricks for taking really great pictures of listings to show a home in its best possible light. Sometimes it’s merely advice (or ads) to let a professional [...]
Welcome (or welcome back) to Friday Figures! All information from the GLVAR MLS system. This is the state of the local real estate market right now, and what you and your Realtor need to know before touring, making an offer, or listing a home in the Las Vegas Valley this weekend. Summary: Available units are [...]
Deutsche Bank, who foreclosed on the Cosmopolitan project last year, is offering to refund up to 74% of the deposit money that would-be buyers put up. However, a lawsuit by those buyers has been filed: Cosmopolitan’s developers also misled apartment buyers about completion delays, added units, insufficient parking and changes to the builder contract, according [...]
The FDIC is ordering the liquidation of properties held by Corus Bankshares, which the FDIC took over last week. Corus lent a lot of money to condo developers locally: Other local projects [besides One Las Vegas and Streamline Towers] financed by Corus include Meridian ($111.3 million), Platinum ($87.6 million), Loft 5 ($56.5 million), Juhl ($106.2 [...]
With the Treasury predicting that millions more foreclosures are coming, it is clear that the markets will be dominated by the banks for some years to come. While foreclosure filings are up month-over-month, they are thankfully slightly down over last year. No surprise that Nevada has the most foreclosures, although an 8% drop from last [...]
The foreclosure problem is has been so bad here that Las Vegas, North Las Vegas, Henderson, and Clark County are teaming up to best get and use Federal stimulus money. People who signed up to buy condos in the City Center project are not very happy right now. They bought near the top of the [...]
Right now, there are 818 condos available in the Las Vegas Valley listed at $100,000 or less, and a few more in age-restricted communities. Of those, 537 were built 1990 or later. And of those, 244 are less than 10 years old. For the moment, let’s drop from consideration the 108 condos that are listing [...]
I’ve been studying the latest information on the Las Vegas housing market. This week, we had just under 17,000 single family homes available, and an additional 4500 condos and townhomes. Sure, prices are down almost 30% over last year, but actual closed sales are up over 40% from last year. That’s simple supply and demand: [...]
