CARSON CITY — About 340 lawyers have volunteered to serve as mediators to work with lenders to keep Nevadans from losing their homes to foreclosure, Nevada Chief Justice Jim Hardesty said Monday.
Housing
The $100,000 median-priced home — written off as extinct in Las Vegas just a couple of years ago — could return by the end of this year, a local housing analyst said Thursday.
Las Vegas home prices have retreated to 2001 levels, although two-thirds of the homes being sold now are foreclosures, housing analyst Larry Murphy of SalesTraq said Wednesday.
In the sweltering heat last summer, real estate agent Iddo Gavish walked into one of his foreclosed home listings in North Las Vegas and gagged at the stench.
Lenders opened the floodgates by lifting a moratorium on foreclosures in March, resulting in a record number both in Clark County and nationally, a foreclosure expert said Thursday.
In what could be a sign of the times for the high-rise condominium market in Las Vegas, the 41-story Allure tower on Sahara Avenue is selling 10 units at auction Saturday, starting in the $200,000s for a 660-square-foot studio on the 10th floor.
Pulte Homes’ purchase of Centex Homes will help the homebuilder strengthen its local market share and reach a new segment of homebuyers, industry officials said Wednesday.
New York banking giant JP Morgan Chase has opened a loan modification center in Las Vegas, one of 24 across the nation, to help borrowers struggling to make their mortgage payments.
Construction has resumed at Mira Villa condominiums in Las Vegas with a new general contractor and a commitment from lenders to complete the 113-unit first phase by late summer, a marketing executive said Monday.
LOS ANGELES — Free granite countertops, swimming pools and landscaping aren’t going to convince anyone who’s afraid of losing a job to buy a home. But what about a promise to pay your mortgage if you get laid off?
The bankruptcy filing late Tuesday by one of the biggest private homebuilders in Southern Nevada underscores the ongoing struggles the recession-wracked housing industry is causing area developers.
WASHINGTON — Declines in home prices in the Las Vegas, Cleveland, Los Angeles, and Washington D.C., metro areas — all ravaged by foreclosures — eased somewhat in January, a new report shows.
Skip Jourdan bought a three-bedroom condo at Mar-A-Lago in northwest Las Vegas for $194,000 in 2006 for his daughter to live in while she was attending college. When his daughter transferred to a college in the East, Jourdan decided he’d be better off renting the unit than selling it for around $85,000, its value today. … But the codes, covenants and restrictions stipulate that anyone who bought at Mar-A-Lago in 2006 or later isn’t allowed to rent. Jourdan has to evict his renters and is now forced to pay $1,500 a month for empty space or sell it as a short sale.
Local public housing agencies that have struggled in recent years to make do with shrinking federal resources will receive about $8.9 million in stimulus funds to build or renovate housing for the poor, officials announced on Wednesday.
WASHINGTON — Sales of previously occupied homes jumped unexpectedly in February by the largest amount in nearly six years as first-time buyers took advantage of deep discounts on foreclosures and other distressed properties.
