Housing
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.
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 for people seeking to buy houses.
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.
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, association finances and elections were questioned, and Bitsky was convicted of coercion stemming from an HOA meeting in which he allegedly locked association members in his home over a meeting recording.
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.
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 within three or five years of their purchase.
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