The median price of an existing single-family home in the Las Vegas Valley jumped to $195,000 in March, up 21.1 percent from $161,000 in March 2013, according to a Monday report from the Greater Las Vegas Association of Realtors.
Housing
The Underground House at 3970 Spencer St., one of the valley’s most unusual houses, went on the market about a year ago. The house was initially listed at $1.7 million and on March 28 it sold for the bargain basement price of $1.15 million.
KGA Architecture’s large-scale projects have helped shape the Southern Nevada landscape – from hotel-casinos to hospitals, and high schools to police stations. Ed Kittrell founded the firm 39 years ago with George Garlock.
After nearly a decade of incredible highs and devastating lows, it was time for a party. With its Silver Nugget Awards on March 29, the Southern Nevada Home Builders Association threw its first big annual awards party since 2004, and nearly 300 people came to celebrate.
U.S. home prices rose in February from a year earlier at a solid pace. The states with the biggest price gains in the past year were: California, where prices rose 19.8 percent, followed by Nevada, 18.5 percent, and Georgia, 14.2 percent. No states posted a drop in home prices.
Ken Lowman, broker-owner of Luxury Homes of Las Vegas, found his love for real estate while working as an engineer in Southern California at a Frito Lay processing plant.
Woodside Homes, which is building in west and northwest Las Vegas and in North Las Vegas, is working with California-based sun-systems provider SolarCity to include photovoltaic panels on all homes at no upfront cost.
Freddie Mac’s Multi-Indicator Market Index, released Wednesday, measures the stability of states and the U.S. capital, as well as the top 50 metropolitan areas. It weighs criteria including mortgage applications, income ratios and employment.
Purchases of new homes fell in February to the lowest level in five months, a sign the industry may take time to pick up after inclement weather dampened demand earlier in the year.
Prudential Americana Group, Realtors had its best sales year ever in 2013, but that wasn’t the only big news coming out of the real estate brokerage’s March 13 sales meeting at Encore. The company also announced that it plans to rebrand itself under one of the nation’s best-known corporate nameplates.
Partly in response to increased interest rates, stabilized home prices and a rise of inventory, banks have received an influx of mortgage loan applications in the first few months of 2014.
Life is better for local homebuilders these days, but a recent housing forecast shows more room for rebound. Industry experts shared expectations for residential construction at the Las Vegas Housing Outlook, and if their predictions are any indication, Southern Nevada will have a relatively flat new-homes market through 2014.
One of the region’s largest residential real estate brokerages is taking on one of corporate America’s most famous names. Prudential Americana Group, Realtors will rebrand its Nevada operation as Berkshire Hathaway Home Services-Nevada Properties.
Nevada slashed its foreclosure rate in February, but the state still saw above-average default activity.
A local trade group is striking back at allegations of discrimination in a lawsuit.
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