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2011 another awful year for foreclosures in Nevada and Las Vegas |
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Year-end statistics for 2011 show Nevada and Las Vegas maintained their dubious No. 1 spots on the lists of states and cities hit hardest by home foreclosures. RealtyTrac of Irvine, Calif., which tracks foreclosures, reported Wednesday that during 2011, more than 6 percent — one in 16 — of Nevada housing units received at least one foreclosure filing. That amounted to 72,844 properties with filings last year.
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Judge signs off on LVH casino takeover |
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A state judge has approved an agreement in which a receiver will be put in charge of the former Las Vegas Hilton, including its gaming operations. The 2,950-room Paradise Road property defaulted on its $252 million mortgage last year and was hit with foreclosure proceedings by lender — and hotel investor — Goldman Sachs, in September.
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Home builders catering to extended families |
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Multigenerational houses — those with attached in-law suites or backyard casitas meant to accommodate grandparents, adult children or other extended family members — are being added to the valley’s landscape with increasing frequency.
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Nevada homeowners file class-action lawsuit over foreclosure robosignings |
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Lender Processing Services Inc., the company targeted by Nevada’s attorney general in a foreclosure robosigning investigation, has been hit with a class-action lawsuit filed by Las Vegas and Henderson homeowners.Nevada homeowners file class-action lawsuit over foreclosure robosignings
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Man accused of defrauding HOA of more than $1 million |
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A Clark County grand jury indicted a 50-year-old Beverly Hills, Calif., man for his actions in allegedly defrauding the Paradise Spa Home Owners Association in Las Vegas of more than $1 million, Nevada Attorney General Catherine Cortez Masto said Monday.
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State's top court to rule on constitutionality of its foreclosure mediation program |
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The Nevada Supreme Court is in the unusual and uncomfortable position of deciding whether a state program that it operates is constitutional. The court has since 2009 operated a state mediation program, providing a forum in which homeowners and lenders see if they can negotiate a deal to avoid foreclosure. The Legislature created the program after the housing bubble burst and the state became the nation’s foreclosure capital. It has so far served more than 12,000 Nevada homeowners.
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Sandoval goes against GOP grain, promotes foreclosure assistance |
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Gov. Brian Sandoval’s response to Nevada’s foreclosure crisis could be described as a keen example of dogma clashing with reality. Or, as his critics put it, a failure to hold true to his professed philosophy of avoiding government interference in the private sector.
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Study confirms role of home flippers in Nevada housing price collapse |
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A new study confirms the big role investors, including "house flippers," played in Nevada’s home price run-up and its subsequent near collapse. Researchers at the Federal Reserve Bank of New York last week reported that their study "revealed some astonishing facts" confirming that in four states hit hard by the real estate meltdown, investors played a disproportionate role in inflating prices to unsustainable levels.
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Providence community celebrates its second major park opening |
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Almost a year after breaking ground for a new park in the northwest valley, Knickerbocker Park opened Saturday in the Providence master-planned community at 10695 Dorrell Lane. Las Vegas city officials and the Providence community celebrated its opening with a ceremony and the unveiling of the new PD dog mascot.
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Plummeting home prices entice first-time homebuyers |
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The worst housing market in 70 years has created a recession-flavored version of the American dream for first-time home buyers in Las Vegas. Attracted by home prices that have plummeted to a fraction of what they were during the peak of the housing boom in Las Vegas, new buyers have helped drive the healthiest home resale market in Southern Nevada since the bubble popped.
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In wake of real estate collapse, crazy deals abound |
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What if I told you I could offer you a two-bedroom, two-bath condo in Summerlin — well, basically Summerlin — for the price of an Acura MDX: Is that something that would interest you? It’s the opportunity of a lifetime. We’ve heard this before from the real estate pitchmen.
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Woman implicated in alleged robo-signing scheme found dead |
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A 43-year-old woman who pleaded guilty in an alleged robo-signing scheme was found dead Monday at her northwest valley home, authorities said.
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Nevada urged to use tax credits to rehab abandoned homes for renters |
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Five years ago, with low-income housing scarce and apartments being converted by the hundreds into condominiums, the poor and elderly in Southern Nevada struggled to find places to rent. It made sense for the federal government, partnering with the state, to encourage construction of rental housing.
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Court wants nonprofit group to pay almost $1 million to review foreclosure records |
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A group seeking to evaluate the state’s foreclosure mediation efforts has been told it will cost nearly $1 million to review records of the negotiations between banks and homeowners.
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Investor buys struggling Village Square shopping, office complex |
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An investor in distressed real estate has purchased the struggling Village Square shopping and office complex in western Las Vegas and is promising to revitalize it.
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Aliante HOA hit with lawsuit |
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In the latest in a series of such lawsuits, the Aliante planned community’s homeowners association in North Las Vegas is accused of gouging buyers of foreclosed homes.
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Ron Paul's message of fiscal restraint may fall flat in recession-weary Nevada |
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Ron Paul is having an I-told-you-so moment. Running for president four years ago, Paul spawned a movement of mostly young political outsiders with doomsday talk of deficit spending and manipulation of the monetary system leading to economic ruin.
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Buyers still call the shots in Las Vegas area commercial real estate market |
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The latest research on commercial real estate in Southern Nevada shows that, like the residential sector, it remains mostly a buyer’s market.
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Buyers still call shots in Southern Nevada commercial real estate market |
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The latest research on commercial real estate in Southern Nevada shows that, like the residential sector, it remains mostly a buyer’s market.
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Buyers still call the shots in LV-area commercial real estate market |
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The latest research on commercial real estate in Southern Nevada shows that, like the residential sector, it remains mostly a buyer’s market.
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S&P: Las Vegas home prices dip to Oct. 1998 level |
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Las Vegas home values slid in August to a new post-recession low — and to levels last seen in October 1998 — in a widely-watched real estate report released today.
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S&P: Las Vegas home prices dip to October 1998 level |
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Las Vegas home values slid in August to a new post-recession low — and to levels last seen in October 1998 — in a widely-watched real estate report released today.
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Is Obama's mortgage refinancing plan too narrowly focused? |
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A foreclosure-riddled neighborhood in east Las Vegas was a fitting backdrop for President Barack Obama to discuss his plan to help some of the nation’s homeowners who have been financially decimated by the real estate crisis.
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Las Vegas man accused of renting out homes he didn't own |
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A 36-year-old Las Vegas man has been arrested in an “opportunistic” property scam in which he is accused of renting out homes he didn’t own, Attorney General Catherine Cortez Masto said Friday.
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State Supreme Court orders banks be sanctioned for not following foreclosure mediation |
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While the constitutionality of the state's foreclosure mediation law is being challenged, the Nevada Supreme Court has ruled that penalties should be imposed on two lending companies that failed to follow those rules.
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No one in the Republican field is talking about the housing crisis |
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When the Republican presidential field debated economic policy in New Hampshire last week, the word “foreclosure” was uttered once. One time.
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Southern Highlands HOA sued again over assessment liens |
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A Las Vegas-area homeowners association is being sued after its collection agency demanded payment of some $629,000 in delinquent HOA assessments and legal fees levied against a developer's vacant lots.
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Realtors: Las Vegas home prices off 8.6 percent from September 2010 |
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Home prices in September fell from year-ago levels while sales stayed strong thanks to investors snapping up homes at bargain prices, the Greater Las Vegas Association of Realtors reported.
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Documents: Government has failed at protecting struggling homeowners |
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Why has the administration’s flagship foreclosure prevention program been so ineffective in helping struggling homeowners get loan modifications and stay in their homes?
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How several valley homes fared amid the boom, bust |
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If there’s a single property in the Las Vegas Valley that typifies the extremes of the housing boom and bust, it may be this little house for sale on Walcott Drive.
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How homes have fared on the real estate roller coaster |
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If there’s a single property in the Las Vegas Valley that typifies the extremes of the housing boom and bust, it may be this little house for sale on Walcott Drive.
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How 5 homes have fared on the real estate roller coaster |
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If there’s a single property in the Las Vegas Valley that typifies the extremes of the housing boom and bust, it may be this little house for sale on Walcott Drive.
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Census: Nevada had biggest increase in housing, occupied and empty |
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Nevada real estate boomed and busted like no other state over the past decade.
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Commercial real estate report suggests conditions have stabilized |
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Recession-driven commercial real estate defaults show no sign of slowing down in the Las Vegas area, but a new report says underlying conditions in the industrial sector may be stabilizing.
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Increased demand driving new development in Las Vegas' core |
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Real estate specialist Jack Levine has during the past four months seen an intense and growing interest in downtown real estate.
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Las Vegas sees job growth for first time since 2007 |
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Although Las Vegas suffers with one of the weakest economies of U.S. cities, there was a smattering of good news on employment and the value of goods and services produced for the three-month period ended June 30.
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Las Vegas sees trend of job growth for first time since 2007 |
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Although Las Vegas suffers with one of the weakest economies of U.S. cities, there was a smattering of good news on employment and the value of goods and services produced for the three-month period ended June 30.
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Underwater mortgages decline, but Nevada still leads nation |
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Fewer Nevada homeowners are underwater on their mortgages, but only because many have lost their homes to foreclosure, a California research firm said.
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Neighbors seek answers in dealing with vacant homes |
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As foreclosures and vacant homes sweep across the valley, they bring a rash of problems residents are becoming more and more familiar with. Unkempt lawns, green pools and squatters are becoming common problems, and on Wednesday night, residents in Henderson gathered to learn how they can combat these issues.
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Banks seeking to foreclose on Southern Nevada commercial properties |
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Carnage from the recession continues in the Las Vegas commercial real estate market, with banks moving to foreclose on additional properties.
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Website ranks Sun City Anthem best retirement community in America |
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When it comes time to retire, many people choose to relocate somewhere warmer and seek out a place where they'll have plenty of ways to spend their free time.
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Bankrupt executive in new deal for Las Vegas Beltway land |
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Las Vegas businessman Jean Marc El Jwaidi continues to wheel and deal in his bankruptcy case – and is now signaling that he again wants to invest in commercial real estate.
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Nevada foreclosure suit finally dismissed |
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Seven months ago, Pahrump homeowner Suzanne North gained national attention with her lawsuit single-handedly halting thousands of Nevada foreclosures, at least for 11 days.
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Smith Center head honcho Myron Martin: ‘You just might get goose bumps’ |
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Imagine yourself sitting with 2,050 audience members in a grand performance hall cloaked in darkness. The anticipation for what’s to come, the collective ...
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GOP, Democrats ready rival debt limit plans to reassure world markets |
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WASHINGTON — With bipartisan talks stalled, House Republicans and Senate Democrats readied rival debt-limit emergency fallback plans in hopes of reassuring world financial markets on Monday the U.S. government will avoid an unprecedented default in barely a week.
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Police investigating fatal shooting |
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Metro Police are investigating a fatal shooting that happened this afternoon near F Street and Jackson Avenue.
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Stations Casinos allowed to proceed with lawsuit |
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A District Court judge today allowed Station Casinos to proceed with its lawsuit against Henderson over a land-use decision involving the Roadhouse, a defunct casino on Boulder Highway slated for redevelopment.
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Second county firefighter terminated for sick-leave abuse |
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A second Clark County firefighter has been fired for misusing the Fire Department's sick-leave system.
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Carolyn Goodman sets own style for mayor's weekly news conferences |
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There were no showgirls or martini glasses, but Las Vegas Mayor Carolyn Goodman continued her husband and former mayor Oscar Goodman's tradition of weekly press conferences at city hall Thursday morning.
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On tap this weekend: Slabs of meat, ugly bathing suits and Vanilla Ice |
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This is a weekend of entertainment firsts in Las Vegas. British comedian Russell Brand comes to town for the first time, as does a team of award-winning chefs with pork on their minds.
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Spokesman: Metro capable of running its own crime lab |
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A Metro Police spokesman today defended the agency's ability to run its own crime lab, rejecting the National Academy of Sciences' recommendation that forensic labs should be administered independently of law enforcement to reduce potential bias against criminal suspects.
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Democrats, Republicans submit plans for remapping districts |
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CARSON CITY — Attorneys for both the Democratic and the Republican Parties agree that a key issue in the battle over reapportionment is deciding whether the Hispanic population has a majority in one of the four Nevada Congressional Districts.
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Reid sends signal he won't back compromise bill based on budget cuts |
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The deal that the President and the House Speaker both say they didn’t make last night is getting an anticipatory smackdown from the Senate’s Majority Leader, who says he won’t consent to an in-the-works compromise that’s entirely predicated on cuts.
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Photos: Angel and Roman Porrino celebrate National Lollipop Day at the Paris |
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Holly’s World and Absinthe star Angel Porrino celebrated National Lollipop Day yesterday with her son Roman at Sugar Factory’s flagship location ...
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North Las Vegas residents urge council to save rec centers, pools |
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Residents of North Las Vegas fear that the city’s budget shortfall might cost them their recreational centers and pools — but they're hoping those facilities will be saved with contract concessions from the city's two police labor unions.
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Colleen Rimer sentenced for death of special needs son found in hot vehicle |
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The mother convicted along with her husband for the 2008 death of their special needs son, who was left in a hot vehicle, was sentenced today to serve five to 20 years in prison.
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Supreme Court upholds drug conviction |
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The Nevada Supreme Court today upheld the conviction of an automobile passenger who North Las Vegas Police found to be in possession of drugs and drug paraphernalia.
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Supreme Court panel overturns 2007 second-degree murder conviction |
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A three-justice panel of the Nevada Supreme Court today cited improper jury instructions in its decision to overturn the second-degree murder conviction of a man who shot his girlfriend in the head following a Memorial Day weekend barbeque in Clark County in 2007.
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Baltimore PG Daquan Cook becomes UNLV's first 2012 hoops commit |
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Just 24 hours before a huge evaluation weekend in Las Vegas began for Dave Rice and his UNLV coaching staff, some big news came through their offices at the Thomas & Mack Center. The first of five vacant scholarships in their 2012 recruiting class is now spoken for, as 6-foot-1 point guard Daquan Cook from Baltimore, Md., committed to the Rebels.
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Boehner: House will compromise on debt limit |
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WASHINGTON — House Speaker John Boehner predicted Thursday that a majority of House Republicans will end up supporting some kind of compromise as the Senate began debating a House-passed effort to tie an increase in the debt ceiling to conservative demands for a balanced budget amendment to the Constitution.
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Map provides picture of Reid's problem |
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Let’s start the day with some math: Senate math, based on the latest 2012 forecasts, published today by Roll Call.
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Police seek public's help in finding robber |
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Police are asking for the public’s help identifying a man who robbed a business twice about three weeks ago.
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Seven treated for injuries in mobile home fire |
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One adult and six children were treated for minor injuries after their eastern valley mobile home caught on fire Thursday morning.
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Sign installation begins in preparation of third terminal at McCarran |
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Although opening day is still a year away, McCarran International Airport is getting ready for Terminal 3 by installing new signs, which may affect some motorists.
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Hot and sunny day ahead for Las Vegas |
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Sunny skies and afternoon high temperatures climbing to about 105 degrees are in the forecast today for the Las Vegas Valley, according to the National Weather Service.
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Contempt for Obama blocks progress |
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I heard a comment that explained to me why congressional Republicans and Democrats and President Barack Obama are not able to reach agreement on a plan to resolve our budget crisis.
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Today’s politicians fail to embrace Lincoln’s wisdom |
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History has shown that Abraham Lincoln was right when he said, “A house divided against itself cannot stand.”
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Open-air market could be solution for Strip's desolate north end |
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Throw this into the ever-growing pile of the baffling: Why is there no discussion about blight on the Strip? Why is there no sense of concern — and with it, fresh ideas — about the long stretches of our most important economic and cultural asset that are pocked with half-finished projects or just empty land.
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Fore sale: PGA joins Realtors to market golf-course homes |
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The Southwest Section of the Professional Golfers’ Association has teamed up with Realtors to help golfers buy homes on or near golf courses in Southern Nevada.
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Under microscope, county firefighters taking less sick leave |
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About six months after an arbitrator pointed out what he thought was obvious misuse of the sick-leave system, and after Clark County adopted stricter rules, firefighters aren’t calling in sick nearly as much as they used to.
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Miles from major metro area, rural Ely airport could close |
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White Pine County Airport in Ely, the nation’s most rural airport to be serviced by commercial flights, survives to a great extent because of a federal program that subsidizes airlines that fly to far-flung areas.
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A look at 15 of the most dangerous intersections in Las Vegas |
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Don’t spend too much time gawking at New York-New York’s roller coaster or planes coming and going from the airport while driving along Tropicana Avenue — it could cost you.
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Purchasing home on a golf course made easier |
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The Professional Golfers’ Association’s Southwest Section has teamed up with Realtors to help golfers buy homes on or near golf courses in Southern Nevada.
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Legal Aid Center applauds ruling on homeowner mediations with banks |
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Legal Aid Center of Southern Nevada today praised rulings last week by the Nevada Supreme Court boosting protections for homeowners trying to save their homes through mediations with banks.
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State Supreme Court finding flaws in some foreclosure filings |
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The Nevada Supreme Court has sent a message to banks trying to foreclose on homeowners: Follow the rules, or forget about foreclosing and face sanctions.
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Park Highlands in bankruptcy again |
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The owner of the stalled Park Highlands planned community in North Las Vegas has filed for bankruptcy protection a second time.
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Park Highlands community in bankruptcy again |
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The owner of the stalled Park Highlands planned community in North Las Vegas has filed for bankruptcy protection a second time.
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Las Vegas real estate fraud suspect faces new lawsuit |
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When it comes to real estate and mortgage fraud during the boom years in Las Vegas, prosecutors say husband-wife team Steven W. Grimm and Eve E. Mazzarella were involved in a big way – to the tune of $107 million.
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Western valley office development sold for $9.2 million |
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A mixed-use office development in the western valley has sold for $9.2 million as part of a receivership sale.
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Nevada foreclosure filings fall in May |
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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.
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Land that sold for $30 million fetches $4.4 million after foreclosure |
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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.
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Las Vegas home sales, prices notch rebound in May |
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Southern Nevada home prices and sales rebounded slightly in May, according to statistics released today by the Greater Las Vegas Association of Realtors.
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Las Vegas existing home sales brisk as prices continue to tumble |
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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.
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Workshops scheduled for homeowners struggling with mortgage payments |
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Two workshops are planned in Las Vegas this month to help homeowners struggling to pay their mortgages.
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Report: One-third of Las Vegas homes sold for less than $100,000 |
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One-third of the existing single-family homes sold during the first quarter of 2011 fetched less than $100,000, according to statistics released by a Las Vegas research firm.
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Las Vegas home prices continue to slip, index shows |
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Las Vegas-area home prices fell again in February -- and remain below 2000 levels -- as measured by the Standard & Poor’s/Case-Shiller Home Price Indices.
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Land prices too steep for homebuilders right now |
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The Las Vegas new-home market remains weak and could hit its low during the downturn with fewer than 5,000 homes built.
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As apartment rents drop, tenants look for upgrades |
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A decrease in rental prices in some high-end apartment complexes in Las Vegas has made older properties obsolete, according to Colliers International. That trend has paved the way for construction once the economy improves.
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New Home Sales Hold Steady - Review Journal |
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New Home Sales Hold Steady - Review Journal
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Some Standing Inventory Appearing |
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Around the Las Vegas Valley, developers have been pulling less permits and slowing construction. Some builders to the point they will only start production on a home until it is in contract.
Due to the ability to secure a loan and other financial factors some homes have fallen out creating small pockets of standing inventory. Standing inventory equals opportunity. You may receive extra upgrades that were spec'ed out in the home or other rebates.
Give us a buzz so we can determine what type of product you are interested in and if standing inventory is available. Builders email us daily on what they have ready to go to contract. We have done the research so you take advantage.
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End of Year Sales Builders Slash Prices |
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Local Builders are slashing their prices and offering huge incentives for sales that close by Dec 31st 2007.
It's a buyers market so if you've been waiting to purchase, now's the time. The incentives vary depending on the price of the home and builder but one thing is clear, prices on standing inventory are being drastically cut and tens of thousands of dollars in incentives are being offered to buyers including reduced pricing, paying for closing costs and free upgrades. Ask me how to get even more!!
If you are renting and in a lease, don't worry, we have options and can neogiate for you.
Now is the time to buy if you've been waiting for prices to come down. Don't spend another year paying someone elses mortgage. Your dream home is available and timing is everything.
There is no cost to you to work with a REALTOR® to assist you with buying a new home with the best incentives and lowest price.
CALL TODAY to take advantage of the current Buyers Market in Las Vegas.
Olivia McClellan, ABR, GRI, RRG
Broker, REALTOR®
Triple8 Associates Inc
5940 S. Rainbow Blvd., Suite 1007
Las Vegas, NV 89118
Direct: 702-372-2671
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End of Year Blowouts - New Homes |
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As many of you know it is a buyers market and there are some great deals from local builders. End of year specials are plenty with many developers trying to clear the books of any available inventory. This means great buyers incentives.
There are condos, townhouses and single family homes available all around the Las Vegas Valley with huge incentives including closing costs, upgrades and more.
If you have specific requirements on location, price range and type of home, give us a call. There is no cost to you to have a professional REALTOR represent you in purchasing a new home. We feel it is imperative that you representation so you may benefit from our years of experience in negiotating the most incentives possible. Do not leave any money on the table.
Give us a call so we can assist you in finding the best deals on your next new home.
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Model Home Leasebacks 12% Cap Rate |
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For more information on these model leasebacks visit our website at http://www.vegasnewhomedeals.com/ where there is a current list of opportunities ranging from the $400k up over a million.
The builders are paying 1% of the purchase price for 18 months with options to extend.
Send us an email with questions.
Olivia
Triple8 Associates Inc
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12% Cap Rate on New Home Leasebacks |
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If you are looking for a great investment in a down market, we have got five models left that are for sale with the builder leasing them back at 1% of the purchase price.
These means with 10% down you are cash positive. If you have other investments that don't pencil this is a great way to off set the monthly loss.
These models are going for the high 300's and the lease back time frames start at 12 months and go to 18 months with an option to extend.
Call me today to take advantage of this opportunity. The first six did not last long.
Olivia McClellan
Liberty Realty
702-372-2671
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Model Home Leaseback Provides Income |
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There are new homes for sale that the builder will lease back at 1% of the purchase price allowing a positive cash flow with guaranteed 18 months*.
The prices range from the high 300's and the models are packed with upgrades as well as furniture.
Call me for details
Olivia
*Leaseback timeframe varies depending on model
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New Homes with Lease Back |
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Are you looking to invest in Las Vegas?
Now is the time to take advantage of 12% cap rates on investment homes from builders.
They are guaranteeing 18 month leases at 1% of the sales price. The homes are located in great areas of Las Vegas.
Call today to find out more.
Oliva
702-372-2671
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There are a few deals left in the new home market.
Standing inventory has dwindled to almost zero on the popular tracts in the north and south.
There are still many builders with great incentive packages that will benefit buyers.
Please call me to discuss your timelines and real estate goals.
Thanks
Olivia
702-372-2671
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New Home Incentives Disappearing |
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1/9/07
The current inventory on the Las Vegas MLS was at an all time high reaching 23,000 properties at the end of 2006. As of today, that number has decreased to 17,000 properties on the MLS which should help Sellers get their properties sold faster that 60 or 90 days.
Also, new home developers have slowed building and have less and less standing inventory so the incredible incentives and free upgrades will soon disappear.
If you are in the market for a new home the time is now with rates down and some builders still offering great deals.
Call me ASAP.
Olivia McClellan, ABR, GRI, RRG
Broker/Salesperson, REALTOR®
Liberty Realty
7674 W Lake Mead Blvd, Ste 150
Las Vegas, NV 89128
Direct: 702-372-2671
Fax: 702-543-4845
Visit www.oliviasellsvegas.com or www.vegasnewhomedeals.com for more info.
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