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Housing

Insurers dropping Chinese drywall policies

WEST PALM BEACH, Fla. — James and Maria Ivory’s dreams of a relaxing retirement on Florida’s Gulf Coast were put on hold when they discovered their new home had been built with Chinese drywall that emits sulfuric fumes and corrodes pipes. It got worse when they asked their insurer for help — and not only was their claim denied, but they’ve been told their entire policy won’t be renewed.

Mediation plan blamed for delays

Nevada’s mortgage foreclosure mediation program and similar programs in other states are delaying efforts to resolve problem loans, the top official at the Mortgage Bankers Association said Tuesday.

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Home sales, median prices rise

The Las Vegas housing market showed a slight uptick in September after losing ground in August, the Greater Las Vegas Association of Realtors reported Friday.

Apartment prices decline in Las Vegas, amenities don’t

Budget-minded apartment tenants may be willing to sacrifice features such as walk-in closets and hardwood floors for cheaper rent, but they still want swimming pools, fitness centers and barbecue pits that make staying home more enjoyable.

New law hits pocketbooks of neglectful homeowners

CARSON CITY — Like other Las Vegans, Assemblyman Marcus Conklin has been shocked at the number of deteriorating foreclosed homes in his neighborhood, replete with weed-covered lawns and strewn about trash.

New law for home loan consultants poses hurdle

Nevada’s emerging home mortgage modification industry is running into a big hurdle just as it starts to operate under a new law.

Home resales decline in August

WASHINGTON — Resales of U.S. homes dropped 2.7 percent in August to a seasonally adjusted annual rate of 5.1 million, the first decline in five months, prompting the National Association of Realtors to again plead for more taxpayer subsidies for their business.

Las Vegas hits median for affordable homes in nation

Forrest Barbee is convinced he is reliving the 1849 Gold Rush. … Barbee, a residential real estate broker with Prudential Americana Group in Las Vegas, sees a constant stream of prospectors hoping to strike it rich snapping up homes on the cheap.

Race is on to qualify for credit

Las Vegas Realtor David Brownell is telling first-time homebuyers they need to be under contract within the next 30 days to take advantage of the $8,000 tax credit set to expire Dec. 1.

New homes back in play for Las Vegas buyers

While foreclosure sales continue to drag the median existing home price down in Las Vegas, the new home market is starting to show progress, housing analyst Dennis Smith of Home Builders Research said Wednesday.

Hidden costs ambush buyers

Michael Evans bought the bank-owned fourplex near Monroe Avenue and H Street at an auction without seeing it first. … The condition of the property might have scared off other investors, but he has been rehabbing and renting out property for a long time. … Then he ran into something new.

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