The best thing that can be said about Las Vegas home values is they’ve ended their precipitous fall and have actually risen in some parts of the valley, an analysis of sales by ZIP code showed.
Housing
The housing market in Las Vegas is expected to chug along at about the same pace as last year, with the “shadow inventory” of bank-owned homes clouding any prospect of even modest recovery, housing analyst Dennis Smith said Thursday.
Nevada Mortgage Lending Division Commissioner Joseph Waltuch, who took office on the eve of Nevada’s financial industry collapse, has been fired by Gov. Brian Sandoval’s administration, effective Feb. 18.
The Nevada Supreme Court today will hear the first legal appeal filed as a result of a failed foreclosure mediation, in a case that could have far-reaching implications for tens of thousands of distressed homeowners.
Chief U.S. District Judge Roger Hunt overturned a state court order that had stopped Bank of America Corp. unit ReconTrust Co. from foreclosing on property in Nevada. Nye County District Judge Robert Lane had issued the order Jan. 20 that suspended ReconTrust foreclosures on an estimated 7,500 pending foreclosures around Nevada.
The Nevada Supreme Court, which oversees the Foreclosure Mediation Program, has several times in the past 18 months updated program rules in response to concerns that have arisen, but bank officials and homeowners say the program still has problems that must be addressed.
Jeanne Bullock parted with her grand piano. Now, she might lose her home. The longtime local musician was forced to ship her beloved piano to a music store in Maryland owned by her brother. Like others facing foreclosure, she is short on cash.
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