Nevada HAND receives 2,000 calls a day from people seeking affordable housing and only has a “handful” of vacancies in its 4,700-unit portfolio, the president and CEO said.
Housing
In Nevada, the property-tax increase for one’s primary residence is a maximum of 3 percent, and the increase for other properties, including land and commercial buildings, is a max of 8 percent.
Home prices are still logging huge year-over-year gains, making it all the more expensive to buy a place as people also face higher costs for gas and other daily goods.
The luxury house in The Summit Club, a wealthy enclave in Summerlin, features a “secluded private apartment.”
Buyers are pulling back in Southern Nevada and other metro areas amid sharply higher borrowing costs.
Locally and nationally, the number of price cuts rose for the third consecutive month in May.
While it’s natural to want to make improvements to increase your home’s resale value, some renovations will actually cost you money in the long run. Just because you see something as an improvement doesn’t mean a potential buyer will feel the same way.
“We could be facing years, not months, of fewer home sales,” the CEO of Redfin said.
America’s casino capital “used to be an affordable alternative to California,” but rising prices and a hot market have made it “less attractive” for new buyers, report says.
Boxing promoter and former boxing champion Oscar De La Hoya, known as The Golden Boy, has paid $14.6 million in cash for a home under construction in the luxury Henderson hillside community of MacDonald Highlands.
Spanning more than half the size of Summerlin, a sprawling ranch property in Northern Nevada has hit the market for $100 million.
Las Vegas rental rates are climbing faster than the national average, and Nevada faces a steep shortage of affordable units.
Blue Heron held a ceremonial groundbreaking for Shoreline, an 83-lot housing tract at Lake Las Vegas in Henderson.
Southern Nevada’s market overall “may be starting to calm down a bit.”
The buyer, British businessman Simon Dolan, made headlines for challenging the U.K. government in court over the country’s pandemic lockdowns.
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