Construction is gaining speed in Las Vegas, but if you want to see a glaring difference between today’s market and that of the mid-2000s bubble, just look at developer Jorge Pérez.
Real Estate Insider
Eli Segall’s Real Estate Insider column appears Saturdays in the Business section.
esegall@reviewjournal.com … @eli_segall on Twitter. 702-383-0342
Paula Yakubik may not be a developer or broker, but she generated plenty of business from Las Vegas’ real estate industry during the boom years.
When MGM Resorts International announced this spring that it was selling the Mandarin Oriental, it left out an important part: the buyers.
When a Buddhist group recently bought property near the Strip and unveiled plans to build a temple, more than a few people likely did a double-take.
Zillow executives may say they’re not in the house-flipping business, but based on its first batch of deals in Las Vegas, that’s exactly what the company is doing: buying and then quickly selling homes.
Like practically everywhere else in the Las Vegas Valley, the south Strip has a long track record of developers pitching massive projects and never following through.
As house hunters and real estate agents know, the inventory of homes for sale has dropped fast in Las Vegas.
When you’re as big as The Blackstone Group, shelling out hundreds of millions of dollars can be pretty normal stuff.
Las Vegas is one of the most popular places in America to flip houses, even though investors can earn a lot more money elsewhere. And slowly, it seems, they’re catching on to that.
Seven or eight years ago, Las Vegas’ housing market was all but dead. Today it’s reached the most heated levels in years.
Las Vegas, as we know, was the foreclosure capital of America during the recession. Job losses soared as borrowers throughout the valley fell behind on their mortgage and lost their home to lenders.
Construction has been picking up all over Las Vegas, with investors building subdivisions, retail centers, warehouses, apartment complexes and more.
Today, the property on Durango Drive at Hacienda Avenue is spruced up and on the market, ready to close the chapter on its blighted, beat-up past.
When Virgin Group founder Richard Branson was at the Hard Rock Hotel last week to announce his purchase of the resort, yours truly asked during a QA whatit sold for and who the majority owner is.
Boca Park, a massive shopping center near Summerlin, gets plenty of customers. But a big, empty store is boarded and padlocked, and if you peak above the plywood covering an entrance, you still see a name: Haggen.
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