Housing
Clark County commissioners Tuesday funneled $4 million in federal neighborhood stabilization program funding to Housing for Nevada, a nonprofit that aims to purchase, rehabilitate and resell foreclosed or abandoned homes to qualified buyers. In this case, the group plans to target at least 25 homes in the Winchester area, bordered by Eastern Avenue and U.S. Highway 95 between Sahara Avenue and Desert Inn Road.
An attorney who represents people facing foreclosure has accused Wells Fargo of forging loan documents. In court papers filed this month in Clark County District Court, attorney Dave Crosby alleged bank employees committed forgery and fraud in making a $350,000 loan to a father of four who was unemployed at the time.
Despite a decline in August home construction, 80 percent of current homeowners plan to buy again and 59 percent of renters aspire to be owners, the Trulia.com real estate listing service reported Tuesday. The biggest obstacle for consumers is saving enough for a down-payment.
Sales of both new and existing homes in Las Vegas increased in August compared with July, a housing research firm reported Friday. Prices, though, remained flat compared with July and fell from a year ago.
There’s a silver lining in the fact that your home is worth 60 percent less than you paid for it. As lawmakers and business leaders debate how to diversify the local economy, the city’s epic real estate crash is quietly doing the job for them.
