The number of homes available for sale in Las Vegas has receded from last year’s peak and monthly closings have nearly tripled, the Greater Las Vegas Association of Realtors reported Monday.
Housing
The tough emotional impacts of the Silver State’s foreclosure crisis had Southern Nevadans of all ages reaching out for help Saturday morning.
Two years ago, an 86-year-old woman got a 40-year, $274,000 mortgage with an introductory rate of 1 percent. Her monthly payment was a little more than $500 — but her income consists of only an $830 monthly Social Security check.
Southern Nevada’s housing market hasn’t found its bottom and could suffer further in coming months, a panel of real estate experts said Thursday.
WASHINGTON — The number of homeowners ensnared in the foreclosure crisis grew by more than 70 percent in the third quarter of this year compared with the same period in 2007, according to data being released today.
Homeowners at two valley communities linked to a federal corruption probe ousted members of their homeowners association boards Wednesday.
A hefty federal grant will help fill vacated houses cropping up like desert weeds in Clark County, an area hit hard by foreclosures.
R&O Construction is pushing to finish the 123-unit Element Hotel in the master-planned Summerlin community for developer LaPour Partners in November.
With all of the news about financial meltdowns, distress sales and the government bailout package, it’s sometimes difficult to separate fact from fiction.
The housing outlook continues to be bleak for Las Vegas, with lagging new-home sales and falling prices, but existing-home sales topped 3,000 for the third straight month, Home Builders Research reported Thursday.
Concordia Homes of Nevada has closed its sales offices and will be refunding deposits on homes that have yet to start construction, an industry source said Wednesday.
A 14,000-square-foot home at 59 Promontory Ridge in the master-planned Summerlin community closed escrow Oct. 3 for $11.5 million, the highest residential transaction so far this year in Las Vegas.
Foreclosures have nearly tripled in Clark County through September, and the number coming down the pike is growing, a California-based online foreclosure source reported.