real estate: Fannie Mae and Freddie Mac on the ropes - 08/19/08 10:56 PM
The two mortgage heavyweights have been the backbone of U.S. housing finance scene for decades and have provided the intended liquidity to the market. This in turn allowed more people to buy a home to live in, the ultimate goal of the system. Then in the early 2000's the real estate … (4 comments)
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real estate: Foreign real estate buyers more prudent now - 08/16/08 09:37 PM
Now is a good time to buy residential real estate in the U.S. as prices are softening nicely in many regions and there is plenty of inventory to choose from. Mortgage money still remains affordable, although several loan products have been tossed and underwriting guidelines have become tougher. This development has … (8 comments)
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real estate: Las Vegas land prices soften up, except on resort corridor - 08/15/08 06:43 PM
The way the residential real estate market today is going in Southern Nevada it's no surprise that raw land values here are heading south. Demand for land is way down as the housing sector struggles with a large inventory of new and resale homes. Even if a builder wanted to purchase acreage … (8 comments)
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real estate: Las Vegas existing home sales continue to improve in July - 08/08/08 07:03 PM
For avid real estate market observers in Southern Nevada the recent news from GLVAR, or Greater Las Vegas Association of Realtors, were for the most part positive. In the July statistics it just published two out of the three more important categories the figures are kind of easy on the eye. … (6 comments)
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real estate: Las Vegas second home buying could be affected by new housing bill - 08/03/08 12:48 AM
The mammoth recent housing bill has gazillion provisions in it, covered in detail on about 600 plus pages of fine print. There is the potential mortgage refinance assistance for those in payment distress, there is the tax credit for first-time homebuyers who qualify and so on. Lots of material that when … (10 comments)
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real estate: Will mortgage lenders embrace the new housing bill? - 07/29/08 10:02 PM
The ink on the new housing rescue bill isn't dry yet, but Washington is already leaning hard on regulators and mortgage bankers to get their full attention focused on it and act as soon as it goes into effect on October 1, 2008. If all goes as planned, it would help … (20 comments)
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real estate: Summerlin home wins SNWA landscape award - 07/26/08 10:48 PM
Southern Nevada Water Authority, or SNWA, has a massive job on its hands. Years ago when Las Vegas was still a miniature from what it is today the Authority's task was simple. Snowmelt from the Rockies steadily supplied water to Lake Mead and that was plenty to keep the valley moving … (2 comments)
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real estate: Housing rescue bill almost a reality - 07/24/08 11:59 PM
Washington has been hard at work for a while on this huge housing rescue legislation - it'll provide $300 billion to distressed homeowners who face a possible foreclosure - and it passed the House this week. Once it gets the blessings of the Senate and the White House, it'll become law, … (14 comments)
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real estate: Southern Nevada condo development adjusts to soft market - 07/22/08 11:46 PM
The Meridian Luxury Suites used to be an apartment complex within an easy walking distance to the Strip and then in 2005 all the units were converted into condominiums. Condo conversions were all the rage those days in Las Vegas. That's when the real estate market here was still doing pretty … (2 comments)
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real estate: Las Vegas new home sales now follow a more stable pattern - 07/19/08 09:55 PM
Since last summer new home sales have been gradually declining in the valley and evidently reached the bottom of the cycle around January of this year. Since then the numbers have been pretty even, but by no means something to write home about. Yet, in the absence of losing any more … (6 comments)
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real estate: Is an HOA for you? - 07/17/08 10:52 PM
Homeowner's associations, or HOAs, have at times been berated by angry residents who feel they've been wronged by the rules that are part of the deal in certain communities. Or perhaps not the rules themselves but how someone in the HOA management interprets them. Anyhow, it's important to know what the … (2 comments)
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real estate: Southern Nevada home sales increase again in June - 07/10/08 11:05 PM
Las Vegas homeowners and would-be buyers are anxiously keeping an eye on the local real estate market. Homeowners want to see the price slide to finally come to halt as they've already lost a large chunk of equity during the last few years. Prospective buyers are trying to gauge when the … (6 comments)
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real estate: New housing bill component gets an earful - 07/08/08 10:35 PM
U.S. Congress has been busy wrangling with the Housing and Economic Recovery Act for a long time and understandably so. It's a mammoth undertaking and requires lots of debate and compromises and just good old-fashioned work. The midnight oil type of stuff. It's designed to help the struggling real estate and … (12 comments)
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real estate: Where is Las Vegas on this affordable markets list? - 07/04/08 12:54 PM
A few weeks ago MSN gave Sperling's Best Places a call and asked them to put together a ranking of most affordable places to live right now. The survey is officially called the 2008 MSN Real Estate Most-livable Bargain Markets list. Okay, kind of long but we'll take a look at … (8 comments)
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real estate: Real estate rip-offs on the move - 06/29/08 10:10 PM
The housing and mortgage markets are having a less than robust time these days and that is like an invitation to scam artists who know a thing or two about the real estate business. They generally go for the homeowners struggling with their finances, in other words the ones who are … (12 comments)
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real estate: Long-term U.S. housing forecast positive - 06/25/08 12:13 AM
Most of the U.S. is still mired in a real estate slump, in a deep one in some areas and in a little shallower one in others. Las Vegas probably belongs to the deeper customer type, although it's now trying to lift itself off the gutter. Sales numbers here are up … (21 comments)
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real estate: Buying foreclosures the prudent way - 06/22/08 01:08 PM
Las Vegas real estate market is bursting with bank REOs, real estate owned in industry talk, and many of these are listed at prices that were unthinkable just a few months ago. Single-family houses, condominiums, townhomes, they all are represented in this one large housing bazaar teeming with activity in our desert … (4 comments)
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real estate: Las Vegas real estate numbers keep improving - 06/20/08 12:00 AM
May housing numbers for Southern Nevada are mostly positive. Not too long ago all the key indicators were heading in the wrong direction, but that trend seems to be now history. Recent history for sure, but history anyway. The one truly worrisome category that keeps churning out high figures is the … (8 comments)
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real estate: Is that elusive real estate market turnaround near? - 06/15/08 04:38 PM
The mortgage and housing markets have been severely punished in the last couple of years, there's no denying it. The home loan industry, of course, covers the entire nation while the real estate field's troubles have been rather uneven. Some areas, like Las Vegas, lots of Florida and California, have suffered … (6 comments)
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real estate: Super-luxury housing market still strong in Las Vegas - 06/13/08 11:44 PM
This sector seems to have it all figured out. It's generally considered to include homes that go for upwards from $3 million at which level buyers seem to be little concerned about where the Las Vegas real estate market is, what mortgage rates are doing or how the national economy is … (4 comments)
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real estate: Southern Nevada housing market moving cautiously forward - 06/10/08 09:03 PM
The air brakes were applied a while back to make an honest attempt to arrest the steady slide of the real estate market here in Las Vegas. The road down looked long and straight and ominous. At last, for the most part the pump action seems to be now working. The downward momentum … (4 comments)
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real estate: Is Las Vegas real estate market done with correction? - 06/08/08 11:26 PM
The last couple of years have been truly a large test for the Southern Nevada housing and mortgage markets. Property values were heading south, sales stalled, the mortgage community decided to label, although it's now lifted, the valley a "declining area" and buyers generally pulled back to the sidelines to watch … (2 comments)
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real estate: High-rise condo market slows in Las Vegas - 06/07/08 07:20 PM
Now that the high-rise condominium sector is sort of officially pronounced also soft, this then more or less covers the entire residential real estate spectrum in Las Vegas that has gone mellow, from the single-family house to the condo-hotel. It looked for a while that the luxury end of the condominium … (6 comments)
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real estate: Mortgage lender REO count still growing - 06/04/08 04:25 PM
Recent statistics, especially on sales numbers, have instilled some optimism among consumers that the distressed real estate market is about to bottom out in many areas of the country. Maybe it is and that would be a welcome boost for the industry, and also for the beleaguered mortgage lending community. On … (10 comments)
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real estate: Mortgage lenders facing another obstacle - 05/29/08 12:41 AM
The home loan industry has been dealing with all sorts of problems lately, from a soaring heap of foreclosures to a stagnant real estate market that makes meeting monthly revenue projections difficult. Many companies have been forced to close their doors and a host of others still operating are barely hanging … (8 comments)
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real estate: Foreign real estate buyers like what they see - 05/27/08 10:39 PM
Nowadays, there's very little to write home about the overall U.S. housing market. True, some areas, including the metropolitan Las Vegas, are showing cautious signs of the slump being at or near the bottom, which is very encouraging. Yet, the recovery to a healthy environment will likely be slow and long and … (4 comments)
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real estate: Las Vegas condo-hotel market cooling - 05/25/08 04:19 PM
Condominiums that can be doubling as hotel rooms was introduced a few years ago as a new concept to Southern Nevada, likely migrating here from Florida where it had already seen quite a bit of success. Vegas being such a hot-spot tourist magnet world over proved to be a fertile ground … (10 comments)
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real estate: CityCenter resort finally gets a name - 05/22/08 10:32 PM
MGM Mirage's CityCenter is currently regarded as the biggest privately-financed real estate project in the U.S. It consists of many components large and small, okay mostly large, and they each have been given names long ago. Except one. And it happens to be the main attraction of the entire development sitting … (2 comments)
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real estate: Fannie Mae to drop previous guideline - 05/18/08 12:06 PM
Fannie Mae is one of the two gigantic GSEs, or Government Sponsored Enterprises, that helps the nation's housing business by buying mortgages on the secondary market. By doing so it adds liquidity to the banking system and enables lenders to make more home loans. The guidelines for the loans it purchases … (12 comments)
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real estate: Las Vegas pre-foreclosure filings fall in April - 05/15/08 10:38 PM
The Southern Nevada real estate market is doing all it can to shake off the jitters that have bothered it for a long time. Since it took a while to get buried this deep into the housing and mortgage mess, it'll likely take at least as long to completely wiggle out … (10 comments)
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real estate: Coyote Springs put on hold for now - 05/11/08 10:15 PM
Development in metropolitan Las Vegas is pushing in all directions, along the cactus-dotted desert floor and up and over craggy foothills and mountains surrounding it. When about 5,000 to 6,000 people move here every month there has to be housing and services for them, but as developable and reasonably-priced land is … (0 comments)
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real estate: Las Vegas housing market gradually improving - 05/08/08 09:25 PM
As the spring advances toward summer, the Southern Nevada real estate scene continues to show signs of slow improvement. The long-expected recovery is still fragile and is in its early stages, so it'll be a while before things return to a more balanced market environment. The mortgage industry, despite its own … (2 comments)
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real estate: Investors to stave off potential foreclosures - 05/04/08 05:03 PM
The real estate market works in many different ways, as does any marketplace. Some of it is very predictable, and then some isn't.
Consider this. The housing market in Las Vegas experienced dizzying heights a few years ago, fueled by several factors that included low mortgage interest rates, benevolent lending guidelines … (8 comments)
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real estate: Station Casinos has lofty goals - 04/28/08 12:02 AM
Station Casinos runs a host of successful gambling halls in Las Vegas for the local clientele and is continually building new ones in strategic locations. The Aliante Station in North Las Vegas is the next property to open its doors, scheduled to do so late this year. The company is also … (2 comments)
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real estate: Las Vegas real estate prices turn more affordable - 04/26/08 08:07 PM
The current crunch that descended on the Southern Nevada housing market is slowly working on what it is designed to do. It was invited to the valley by stark economic realities that had learned the bazaar had grown overheated and was actually about to spiral out of control. Home prices were zooming, … (4 comments)
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real estate: Short sale can be a headache this big - 04/21/08 09:33 PM
Mortgage foreclosure is something that isn't advantageous to have glaring at you from a credit report. It has a large negative impact on FICO's computations and can make future credit very costly to obtain, if it's available at all. Before a distressed homeowner resorts to that route, another option has increasingly … (14 comments)
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real estate: Mortgage walkaways face unkind future - 04/20/08 10:42 PM
The tough real estate market gripping large sections of the country has incubated multiple trends and one of the more noteworthy of them is the mortgage walkaway. This is where a distressed homeowner or an out-of-luck investor decides to cease loan payments and at some point later on hands in the house … (2 comments)
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real estate: Mortgage and real estate scams alive and well - 04/12/08 07:10 PM
Now that the mortgage and housing markets are together going through tough times scam artists have come out to sniff for opportunity under just about every rock. They are shamelessly preying on the unaware. The numbers alone tell the story, as FBI's Financial Crimes Enforcement Network, or FinCEN, registered almost 15,000 … (4 comments)
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real estate: Southern Nevada real estate market warming up - 04/10/08 11:26 PM
March was a promising month for Las Vegas residential real estate. Spring is here and people are finally starting to believe that now is probably as good a time to buy a home as any. Mortgage rates continue to be under 6%, meaning that the finance end is still favorable, and … (6 comments)
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real estate: Las Vegas Strip plan scrapped - 04/01/08 03:54 PM
Another Strip project was taken off the table as the struggling mortgage and real estate markets continue inflicting pain on condominium and resort developments here. The pace seems to be steady now for these types of casualties, for the moment at least. Recently Plaza Las Vegas was shelved and Cosmopolitan, too, … (4 comments)
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real estate: Mortgage refinance made troublesome - 03/25/08 06:47 PM
The residential real estate markets in many areas of the country are plodding along in high weeds. When that is combined with a home loan industry that is grappling with serious balance sheet tremors, the situation is ripe for healthy head scratching for a homeowner who needs to refinance his explosive … (2 comments)
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real estate: Las Vegas Sands has grand plans - 03/15/08 11:56 PM
First the rapidly-growing hotel, gaming and resort company built the Venetian at the corner of Las Vegas Boulevard, better known as the Strip, and Sands Avenue, to compliment the huge convention facility Sands Expo Center. It promptly became a major hit among convention goers and up-scale visitors to town. Since the … (6 comments)
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real estate: Las Vegas housing market report mixed - 03/15/08 04:54 PM
Southern Nevada residential real estate market is actively seeking a solid foundation to stand on. Some of its more meaningful components are either moving up a little or heading down a bit, instead of going steadily in either direction. The positive thing is that the shifts now are minor which usually … (8 comments)
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real estate: Summerlin introduces creative real estate marketing - 03/12/08 10:11 PM
Like so many other housing markets across the country Las Vegas, too, is feeling the adverse effects of tightening mortgage guidelines, slumping home values and skittish buyers. It's a major task to sell a property under these testing circumstances.
Real estate agents, FSBOs, lenders, whoever is selling, have burned the midnight oil … (2 comments)
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real estate: Hoover Dam bridge construction at full speed again - 03/06/08 12:25 AM
One day back in September of 2006 was rather unkind to the new Hoover Dam bridge project. Winds that faithful day were robust, to the tune of 55 miles per hour, and managed to knock down a vital cableway structure used to ferry building materials over the rocky Black Canyon construction … (2 comments)
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real estate: Las Vegas condos land on non-permissible list - 03/01/08 01:20 PM
When the residential real estate market turns soft, mortgage lenders typically are the first ones to take notice and begin studying where their exposure can get them in trouble. Countless banks operating in Las Vegas have already in their own way reacted to the slowdown here and more are certainly doing … (6 comments)
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real estate: Las Vegas land prices in a flux - 02/23/08 02:20 AM
As the mortgage sector and the residential real estate market in the valley stumble along, the same type of instability is now evident in the raw land arena. The weakness in the former is clearly beginning to affect the latter.
In the fourth quarter of 2007 land prices here climbed to a … (8 comments)
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real estate: Northwest Las Vegas condo project about to welcome first residents - 02/19/08 01:33 AM
Echelon at Centennial Hills, tucked away at a location in the northwest corner of the valley, is preparing to open its first building later this spring. The condominium development will have six four-story structures spread out over 15 acres with 372 units between them when everything is finished. Royal Construction Co., … (0 comments)
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real estate: Vegas condo development in legal tussle - 02/16/08 12:37 PM
When Southern Nevada's residential real estate market began to slide a while back, much of the ensuing talk was focused on the single-family house segment. At about the same time condominiums below the ultra luxury level were also having their troubles, yet for some reason they seldom generated cat-size headlines. Recently, … (0 comments)
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real estate: Mortgage refinance obstacle - 02/16/08 12:01 PM
The home loan industry is buffeted by a major gale and so is in many areas the residential real estate business. They are right now battling the elements as they best can. While at it, mortgage lenders have made scores of adjustments out of necessity to their loan programs and business … (8 comments)
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real estate: Great Mall of Las Vegas alters design - 02/09/08 11:49 AM
Triple Five Nevada has grand plans to build a large shopping mall in the northwest part of the Las Vegas valley. The original design had the huge facility enclosed, but things have changed quite a bit and now it's going to be open-air. Their market research tells them that shoppers actually … (0 comments)
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real estate: Large Las Vegas developer seeks to renegotiate loans - 02/09/08 11:17 AM
The flagging Southern Nevada real estate market is giving major headaches to developers large and small. The overbuilt housing environment and the mortgage industry woes as one-two punch are putting tremendous pressure on them as they look for ways to survive. It's actually somewhat of a surprise that so many of … (2 comments)
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real estate: Mortgage industry tested by foreclosures in 2007 - 02/05/08 01:32 PM
Mortgage foreclosure filings on a national scale kept a steady pace throughout 2007, reports RealtyTrac, a California-based real estate marketplace and an expert in foreclosure data. Despite government and lender efforts to come to the rescue of homeowners in distress, the figures toward the end of the year showed no improvement … (2 comments)
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real estate: Housing wrestles with affordability issue - 01/30/08 09:46 PM
In multiple areas nationwide the residential real estate market remains soft and offers home buyers splendid opportunities. Prices are coming down and many sellers are at last realizing that the marketplace determines the listing price and not them. They are now more willing to negotiate rather than just turn down unappealing offers. … (10 comments)
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real estate: Cosmopolitan on the Strip also struggling - 01/19/08 09:41 PM
This week has really been up and down in the Las Vegas condominium market. Earlier Sinifox Financial reported how well the MGM Mirage's CityCenter condos were accepted by the luxury home buyer. A few days later the news turned sour as an item surfaced about a downtown condominium project called Newport Lofts … (8 comments)
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real estate: Las Vegas condominium project faces difficulties - 01/18/08 11:53 PM
The frustrating mortgage lending environment and soft residential real estate market in Las Vegas is testing the resolve of many condo developers. Several projects in the past few years have been cancelled or put on hold. Some that are presently under construction are struggling to attract buyers offering their usual amenities, … (0 comments)
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real estate: Las Vegas welcomes the Palazzo - 01/16/08 11:24 PM
The newest jewel to the Las Vegas Sands Corp.'s resort portfolio is ready for the grand opening this weekend, scheduled from Thursday through Sunday. A host of special events are on tap and one of them is a concert where Motown megastar Diana Ross and three-time Grammy winner Seal will perform. … (4 comments)
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real estate: Lake Las Vegas project has a new owner - 01/12/08 01:09 PM
Transcontinental Corp. began developing the 3,592-acre Lake Las Vegas site near Henderson in 1990 and was building upscale houses, condominiums and townhouses along the slopes of the man-made lake. Besides homes, the project also includes three luxury resorts, the MonteLago Casino and an Italian-themed village.
The soft real estate market in … (6 comments)
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real estate: Las Vegas single-family house inventory drops again - 01/11/08 08:44 PM
For the local real estate market the new years starts with some rare positive news. The Greater Las Vegas Association of Realtors, or GLVAR, released its December statistics and they show that the single-family house inventory in the MLS decreased to 22,005, a drop of 1,489 units from November.
Some may argue … (8 comments)
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real estate: State of the real estate market today - 01/07/08 10:20 PM
The national mortgage and real estate market headlines last year were overwhelmingly pessimistic, implying that the roof is about to cave in. Many large and small lenders failed, some predictably and others unexpectedly, and several are still struggling to stay afloat. Growing foreclosure anxiety continues to keep the midnight oil burning … (16 comments)
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real estate: Las Vegas condo owners sue developer - 01/05/08 11:15 PM
Just like the rest of the real estate market in Vegas the high-rise condominium sector has also fallen on hard times. Units for sale are sitting unsold for months on end and prices are dropping. That makes a lot of owners nervous, specifically those who are in it as investors.
So nervous … (12 comments)
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real estate: Nevada heads national population growth rate - 12/28/07 10:32 PM
Nevada has been in the news a lot lately for problematic reasons related to the mortgage industry and residential real estate issues. But after a long drought it again has something to cheer about. It once more is the fastest-growing state in the union, after being edged out last year by … (4 comments)
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real estate: Las Vegas housing crawls along - 12/23/07 09:41 PM
The November residential real estate indicators for Southern Nevada were recently published by Home Builders Research and SalesTraq, two local industry research shops. In general the numbers are down, an altogether familiar pattern for the past several months.
In the new home category sales are off by 47.5% from last year and … (2 comments)
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real estate: Mortgage industry regulation overload - 12/21/07 01:14 PM
The residential real estate market is still in a state of upheaval in many regions of the country. Overbuilding, investor speculation and lax mortgage lending standards are mentioned as some of the key reasons to the contraction. In many respects, however, it's merely a market economy at work which has its … (6 comments)
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real estate: Las Vegas arena race is on - 12/12/07 05:53 PM
Sin City is working diligently to bring a professional sports franchise to Southern Nevada. Whether it can support one at this stage is a different matter. The other thing is that the city presently lacks a modern arena to house such a team. Thomas & Mack on UNLV campus seems to … (2 comments)
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real estate: Las Vegas real estate market sluggish - 12/11/07 10:25 PM
There have lately been small signs of improvement in the local housing market and anything positive on that front is warmly embraced. Perhaps the low mortgage interest rates are helping out, perhaps the sellers are pricing their homes more realistically, could be the buyers have realized that now is the time … (0 comments)
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real estate: Las Vegas developable land hunt - 12/07/07 10:53 PM
Downtown and its surrounding areas have long had a questionable reputation and a leisurely drive through there will quickly spell it out why. The only bright spot has really been the Fremont Street Experience with its well-lit casinos. Only the brave would choose to go that way after dark, much less … (6 comments)
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real estate: Las Vegas real estate sold by auction houses - 12/05/07 01:06 PM
As the Southern Nevada real estate market struggles with a high inventory of unsold homes, sellers are trying to find ways to successfully move their properties. They list them with Realtors and the MLS, some decide to proceed on their own as FSBOs and advertise in the newspaper and the Internet, they distribute … (4 comments)
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real estate: Housing woes punish U.S. cities - 12/01/07 09:24 PM
The adverse consequences from the reeling residential real estate market are expected. The severity of them is the open question. They are felt from individual homeowners to cities and states and all the way up to large-scale investors, including many central banks around the world, who purchased mortgage-backed securities for their … (16 comments)
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real estate: Colliers International opens Las Vegas office - 11/30/07 06:41 PM
Many might wonder if now is the best time to open another residential real estate office here when the market is clearly having its problems. There is an abundant oversupply of houses, condominiums and townhouses for sale, many of which are vacant, and they are moving slowly despite lower prices. But … (2 comments)
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real estate: Nevada tops preforeclosure list - 11/28/07 12:56 PM
Heading a ranking of this nature reflects accurately what happened here during the real estate boom days a few years ago. It was then when many homeowners and professional and weekend investors got carried away in the charged atmosphere of fast-rising home prices and failed to hold back in time when … (4 comments)
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real estate: Las Vegas icon Sahara Hotel & Casino under renovation - 11/26/07 09:42 PM
As soon as SBE Entertainment and Stockbridge Real Estate Funds closed on the purchase of the old Strip heavyweight in August, the new owners went to work. Their short-term plan was ready to go the minute the ink dried.
Many of the public areas in and outside the Moroccan-themed resort were … (0 comments)
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real estate: Housing wealth substantial, although largely overlooked - 11/23/07 07:00 PM
The media headlines have been relentless in sending the message that the residential real estate market in many areas is sinking fast. The glut of new and resale homes sitting for months without a viable buyer in sight is certainly worrisome, as is the trend of tightening underwriting guidelines in the … (10 comments)
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real estate: New single-family houses again affordable in Las Vegas - 11/19/07 08:20 PM
It was only a few years ago when affordable housing was one of the great draws in Southern Nevada. Despite the city growing at a breath-taking pace supply and demand stayed in sync and kept real estate prices relatively stable. And then suddenly the secret was out of the bag, sometime in … (12 comments)
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real estate: Real estate market to improve next year? - 11/14/07 02:20 PM
The residential real estate experts continuously evaluate data that flows across their computer screens and try to decipher what it all means. There is so much to consider, though, that it's impossible to reach a consensus on when to expect a market turnaround. Besides, the soft market has shaken really hard … (14 comments)
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real estate: Las Vegas housing market soft in October - 11/09/07 07:54 PM
Anyone who follows the residential real estate market here anticipated pretty much what the official figures from October are now telling us. It's still soft out in the field and any sustainable improvement seems to be at least a few months away since we are now heading into the heart of … (2 comments)
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real estate: Las Vegas Strip land gets top dollar - 11/07/07 12:17 PM
Generally speaking Las Vegas land prices are heading south these days due to lack of demand. The residential real estate sector specifically continues wrestling with serious overbuilding issues that can last for another while. But there is one location that seems immune to the normal shifts in the marketplace.
And that would … (0 comments)
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real estate: Home loan applications climb for the week - 10/31/07 11:12 PM
Good news are still rather rare in this current real estate environment, so when something noteworthy takes place, you ought to jump on it and shape a report to spread the word. Here's one of them that may not yet repeat itself week after week, but at least for now the curve … (10 comments)
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real estate: Las Vegas housing encroaching on Nellis - 10/30/07 03:26 PM
It was just a matter of time when Nellis Air Force Base officials would start talking about the residential and commercial development creeping toward their runways in the northeast part of the valley. The time has come and they are rightfully concerned. The pressure is strongest from the south and is … (2 comments)
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real estate: Vegas land prices heading south - 10/27/07 10:01 PM
What will happen when the residential real estate market is overbuilt, mortgage money is getting tighter and construction costs are heading up? All these aspects combined will typically bring you a soft market that will dampen demand for vacant land and will as a result put downward pressure on prices. That is … (2 comments)
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real estate: Las Vegas homeowners like to go short - 10/26/07 05:37 PM
Going short in this case has nothing to do with the short position people take in the stock market, hoping to profit from a declining price of a security. Short sale in real estate is a concept where the homeowner is allowed by the bank to sell his property for less … (0 comments)
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real estate: More mortgage payments made on time - 10/22/07 10:29 PM
It's uplifting to find a wisp of good news here and there in the otherwise cluttered collection of bad news that you keep reading in the national media about the mortgage and real estate industries. Positive stories have lately had a really hard time finding headline space for themselves.
According to First … (0 comments)
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real estate: Vegas luxury real estate an exception - 10/19/07 05:31 PM
Southern Nevada housing market is nowadays on a wild ride, setting all sorts of dubious records. Here are a couple of them for your consideration. The MLS has more inventory than you care to admit and the current foreclosure rate here is beyond the pale. The thing is these are the kinds … (2 comments)
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real estate: Housing foreclosures fall some - 10/14/07 10:52 PM
If this is the beginning of a trend, then it's good news going forward. Yet, it could also be only a statistical quirk that doesn't mean all that much. Regardless of what the stats really stand for, here they are. The September foreclosure filings nationwide dropped 8% from a scary 32-month … (2 comments)
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real estate: Real estate investors are coming back - 10/02/07 08:03 PM
As the housing market started its slide a while back you could see and hear the speculators head for the sidelines. Many had made handsome profits and the time had come to enjoy the rewards and relax. They are the astute ones. Those who got in too late are currently licking … (8 comments)
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real estate: Stated income mortgage issue still brewing in Nevada - 10/02/07 02:10 PM
The updated consumer protection law that was put in the books earlier in the year is effective as of today. One of its stipulations is that a stated income mortgage loan can be a crime in the state, as interpreted by some legal experts. And that has caused thick smoke to come … (65 comments)
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real estate: Appraisals turn up unusually high - 09/29/07 08:54 PM
While the public is eagerly debating the current state of the reeling real estate business and all the failed mortgage lenders, keen industry observers are focusing their attention on a new development. Even though it's an essential element in a home sale transaction, overall it receives very little notice. We are … (4 comments)
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real estate: Housing price declines in the forecast - 09/22/07 10:26 PM
According to the latest forecast by Moody's Economy.com, the nation's home price picture is going to be rather smudgy in the coming years. The study it conducted analyzed the high and low ends of real estate values in the targeted markets, a total of 379 of the largest ones. Only the … (2 comments)
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real estate: Housing woes pinch new home size - 09/18/07 01:23 PM
Home builders have lately been on a steady course of constructing ever larger houses and condos for the consumer who was looking for a bigger place to live in, whether he really needed it or not. That was the trend for years. It, in fact, accelerated during the early years of … (8 comments)
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real estate: Should you buy a retirement home now? - 09/17/07 12:36 PM
That is a question crossing many minds today. A host of people from their 40s all the way to the 60s are spending quality time on the subject, weighing possible locations, finance options and the exact timing of the purchase, which are among the more important points. It's a strategic decision, … (10 comments)
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real estate: Vegas housing market on the mend? - 09/15/07 06:13 PM
Southern Nevada real estate market has been battling a bad headache for a good while and weary industry experts are wondering when it might right itself. There are some positive signs now that the slide may be slowing down, and maybe even coming to a halt. Wouldn't that be something to … (2 comments)
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real estate: Are real estate prices going up or down? - 09/14/07 01:36 PM
You would think that with the market as soft as it is in many sections of the nation prices would be heading south. And they are. At least that's what you keep reading in the media. And then two separate home price reports are released in the same week and all … (8 comments)
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real estate: Unusual home selling methods - 09/11/07 07:19 PM
When the real estate market softens up like it's doing here in Las Vegas, and in many other parts of the country, it's time to reach into the realm of unconventional methods to move inventory. Lowering the price has been tried, new carpet, check, paying buyer's closing costs, check, and so … (2 comments)
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real estate: Southern Nevada housing a drag on overall economy - 09/08/07 05:59 PM
Metropolitan Las Vegas economy is moving along on a steady, slow course. In the last few months it has been up a little, then down a little, sort of trying to find a groove where to stay. The main reason to the moderate performance continues to be the weak residential real … (2 comments)
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real estate: Mesquite housing market cools - 09/05/07 05:22 PM
Mesquite has lately been called a bedroom community of Las Vegas. And rightfully so. It's only about 90 miles away, a straight shot northeast up the freeway, and definitely has its own small-town aura that is coveted by so many. Pahrump to the west and over the mountain range is the … (0 comments)
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real estate: Vegas luxury condo market feels the pinch - 09/03/07 04:16 PM
The luxury condominium market was also expected to feel the adverse effects of this uncertain mortgage and real estate environment. And it undeniably is. Some projects have been canceled outright and some are on hold for now, obviously waiting for the financial conditions to improve and the rising construction cost trend … (4 comments)
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real estate: Mortgage defaults bring opportunities - 08/31/07 10:26 PM
Real estate flippers and other speculators have been flogged badly in recent months for being partly responsible for the quick run-up in prices during the boom years and now for the smoldering ruins they left behind. And deservedly so. They managed to do most of the damage in four states, namely … (2 comments)
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real estate: Real estate investment gurus - 08/30/07 08:33 PM
If you want to make money investing in residential real estate, you have to do it the old-fashioned way, you have to earn it. There really are no shortcuts.
Now, if you sit down and watch late-night television when fake real estate experts hawk their half-baked theories and believe that they are … (8 comments)
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real estate: Residential real estate becomes more affordable - 08/28/07 06:40 PM
It's a delight to be able to report some good news, for a change. So far it has been just about everything else but them, so let's get right down to it. Before the tide turns. The soft real estate market continues to keep us steady company in most regions of … (6 comments)
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real estate: Mortgage interest deduction in some danger - 08/26/07 03:33 PM
While the mortgage and real estate industries are trying to find solid footing in this soft market, Capitol Hill in Washington is getting ready to unveil this fall wide-ranging legislation that would address climate change, more specifically the reduction of carbon emissions. The goal is a cutback of 60 to 80% … (44 comments)
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