Savvy investors in Las Vegas are buying up small homeowner’s association liens at auction and making money by renting out homes they don’t actually own until the mortgage-holder comes knocking, in some cases as long as two years later.
Housing
Las Vegas is attracting national interest from investors looking for quality real estate assets that are already producing income, Gatski Commercial broker Chris Beets said.
Nevada’s foreclosure starts jumped 334 percent in February from the same month a year ago, leading the nation in year-over-year percentage gains, online foreclosure listing service RealtyTrac reported late Wednesday.
Las Vegas homebuilder Larry Canarelli has completed the sale of his ownership of Denver-based Oakwood Homes for $100 million, he said Wednesday.
Competition among Las Vegas homebuilders to acquire residential land is stronger than it’s been for a long time, driving bid prices into risky territory, a land expert said Monday.
Existing home sales in Las Vegas continued to decline with 2,640 escrow closings in February, a 13.5 percent drop from the same month a year ago, the Greater Las Vegas Association of Realtors reported Thursday.
Las Vegas had a 20.7 percent year-over-year gain in home asking prices in February, and inventory is no longer in a free fall, online listing firm Trulia.com reported.
Grading has begun for the first phase of what eventually will be a 2,200-acre master-planned community called Cadence in Henderson, the developer’s chief executive officer said Friday.
Existing-home sales edged up in January, while a seller’s market is developing and home prices continue to rise steadily above year-ago levels, the National Association of Realtors reported Thursday.
Some 37,000 homeowners in Las Vegas crawled out of the hole on their home values in the third quarter, Zillow.com said in a forecast being released Thursday.
Builder confidence in the market for newly built, single-family homes was virtually unchanged in February with a one-point decline to 46 on the National Association of Home Builders’ Housing Market Index released Tuesday.
Lennar Homes has begun site development for about 200 new homes on a 40-acre infill parcel at Desert Inn Road and Tenaya Way, with model homes opening in May or June, an executive for the homebuilder said.
Time gets away from all of us at one point or another.
Nevada posted the nation’s second-highest foreclosure rate for the fourth consecutive month with one in every 344 housing units receiving a foreclosure filing in January, RealtyTrac was expected to report today.
After nearly a year in Chapter 11 bankruptcy proceedings, home builder American West Development Inc. won court approval to return to mainstream commerce.
