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?
Housing
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.
WASHINGTON — Sen. Harry Reid on Monday pushed for creating a housing reserve fund in the congressional budget, saying President Barack Obama’s plan to rescue home-owners “will leave out too many Nevadans.”
Mortgage broker Mark Baker of Meridias Capital in Las Vegas has been deluged with 50 phone calls a day from prospective borrowers, many of whom are first-time homebuyers.
Despite an increase in Las Vegas home sales, pricing pressure continues downward and doesn’t appear to be letting up, a local housing analyst said Thursday.
CARSON CITY — A key Nevada Senate panel voted unanimously Friday for a bill that would help homeowners win court judgments for personal property damaged or sold during improper foreclosure proceedings.
Business has been good for Harley Marks and Greg Ozuna, two former car salesmen who started American Home Services in Las Vegas a few months ago to clean out foreclosed homes.
Las Vegas home sales more than doubled in February from the same month a year ago, although median home prices continue to sink as foreclosures dominate the market, the Greater Las Vegas Association of Realtors reported Tuesday.
Millions of Americans burdened with negative home equity are losing faith in the talk they hear coming from Washington, D.C., about loan modification. They just don’t see it happening.
Henderson Constable Earl Mitchell pounds on the front door of a foreclosed home that three years ago sold for more than a half million dollars.
WASHINGTON — The House last week passed a housing aid bill that would allow bankruptcy judges to adjust the mortgages of financially stressed homeowners.
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