New mortgage applications, driven by requests to refinance at cheaper rates, are on the rise in Las Vegas.
Housing
WASHINGTON — U.S. home sales in 2008 are expected to be the worst in a decade, November data confirmed Tuesday, and there appears to be no quick turnaround coming next year.
Las Vegas, once the darling of the nation’s housing boom, is feeling unloved for the holidays.
The $7,500 tax credit given to first-time home buyers isn’t enough to compensate for deteriorating consumer confidence, a local home-building executive and incoming president of the Southern Nevada Home Builders Association said Thursday.
You know the financial outlook is glum when the mortgage brokers who arrange loans have quit paying their own debts.
If falling home prices and rising foreclosures aren’t enough to show how distressed the Las Vegas housing market has become, take a look at November’s residential permit total.
Fontainebleau Las Vegas’ preview center opened last week with little fanfare but lots of questions about when, or if, its 1,018 condominium units will go on sale.
Construction has been suspended on the ManhattanWest mixed-use condo development in southwestern Las Vegas, the developer said Tuesday.
Nevadans told members of a congressional panel Tuesday that the $700 billion Wall Street bailout has not filtered down to help the victims of the current economic crisis in one of the nation’s hardest hit areas.
The bottom of the Las Vegas housing market appears to be taking shape late in the year.
Home foreclosures are expected to top 30,000 in Clark County this year, compared with 11,509 in 2007, a California-based foreclosure investment firm reported.
A new report points to substantial undervaluation in local housing prices, though an economist who co-authored the study suggested the market’s worst price declines have passed.
People who are in danger of defaulting on mortgages with Countrywide or Bank of America can reserve time at a upcoming foreclosure prevention forum organized by the cities of Las Vegas and North Las Vegas.
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