The Olympia Cos. went all out on Thursday at the kickoff event for construction of Skye Canyon, a 1,700-acre master plan at U.S. 95 and Fort Apache Road in northwest Las Vegas.
Housing
An East Coast investment firm won a bidding war for a share of a big local shopping center. First Allied Corp. dropped $11.5 million in cash to buy out of receivership a 60,105-square-foot chunk of the 267,000-square-foot Spring Valley Town Center at Flamingo Road and Rainbow Boulevard.
Cathy Jones heads the No. 1 woman-owned commercial real estate brokerage firm in Southern Nevada. However, she took a roundabout path to get there.
Southern Nevada’s industrial market stayed in a holding pattern in the first quarter, according to a new report. The sector’s overall local vacancy rate was unchanged compared with recent quarters, at just over 11 percent, said brokerage Avison Young.
Sales of U.S. new homes recovered in April after slumping in the previous two months. But Americans are still buying new homes at a slower pace than they did a year ago.
Nearly 34 percent of Las Vegas homeowners remain underwater, according to a report Tuesday from online real estate database Zillow.
Asking prices are up, and some of Southern Nevada’s best commercial deals are picked over. But that isn’t stopping a California investor’s local buying binge. MCA Realty boosted its local portfolio with three recent deals.
Nevada’s foreclosure rate was eighth in the nation in April after falling behind Florida, Maryland and five other states in the rankings.
There’s Class A, and then there’s Class AAA. For an example of the latter, look at 1701 Village Center Circle in Summerlin, where perhaps one of the highest-end office buildings in the Southwest has come on the market.
Local home prices dipped slightly from March to April but are still up sharply on an annual basis, new statistics being released Thursday by the Greater Las Vegas Association of Realtors show.
U.S. home prices rose at a slightly slower pace in the 12 months that ended in March, a sign that weak sales have begun to restrain the housing market’s sharp price gains. Data provider CoreLogic says home prices in California have jumped 17.2 percent from a year ago. Nevada, at 15.5 percent, has posted the second-largest gain.
Interest rates for mortgage loans have increased since 2013 — but they have not caused a major dent in the market as lenders and consumers shift away from refis to mortgages for home purchase.
You know your real estate market is bouncing back when new companies swoop in to benefit from recovery. Redfin, an Internet-driven, nationwide residential real estate brokerage, announced April 29 that it has opened a brokerage office in Las Vegas.
Home prices in 20 U.S. cities rose at a slower pace in the year ended February as the residential real-estate market cooled. Still, the biggest gains across the U.S. were in Las Vegas.