There’s a light at the end of the foreclosure tunnel in Las Vegas.
Housing
A program to buy and renovate foreclosed and deteriorated homes and sell them to middle-income residents drew the attention of Gov. Jim Gibbons and banking officials who met Monday at the Sawyer Building in Las Vegas.
Las Vegas may be among the first markets to emerge from the housing slump clutching the nation as monthly sales have picked up and prices appear to be reaching the bottom, a local housing analyst said Tuesday.
The city of Las Vegas’ plan for allocating $20.7 million in housing funds would help get occupants into an estimated 298 foreclosed properties — a number representing a fraction of the thousands of troubled properties in Las Vegas alone.
A furrowed mountain blocks all but a sliver of morning sun, casting a shadow across a Western-themed park and a cluster of neighborhoods.
Sun City Anthem rests on the northern slope of Black Mountain, giving homeowners a peaceful view of the Strip below.
Las Vegas has to endure more pain ahead, but the city’s classic fundamentals are still in place for opportunity and growth, economist and housing analyst Tim Sullivan of Sullivan Group Real Estate Advisors said Thursday.
Anyone looking for a glimmer of economic hope may have found it Wednesday at an Urban Land Institute panel discussion on emerging real estate trends in Las Vegas.
Reflecting a national trend, the number of preforeclosure filings and real estate-owned, or bank-owned properties, in Las Vegas fell in October from the previous month, Foreclosures.com reported Tuesday.
The number of homes available for sale in Las Vegas has receded from last year’s peak and monthly closings have nearly tripled, the Greater Las Vegas Association of Realtors reported Monday.
The tough emotional impacts of the Silver State’s foreclosure crisis had Southern Nevadans of all ages reaching out for help Saturday morning.
Two years ago, an 86-year-old woman got a 40-year, $274,000 mortgage with an introductory rate of 1 percent. Her monthly payment was a little more than $500 — but her income consists of only an $830 monthly Social Security check.
Southern Nevada’s housing market hasn’t found its bottom and could suffer further in coming months, a panel of real estate experts said Thursday.
WASHINGTON — The number of homeowners ensnared in the foreclosure crisis grew by more than 70 percent in the third quarter of this year compared with the same period in 2007, according to data being released today.
Homeowners at two valley communities linked to a federal corruption probe ousted members of their homeowners association boards Wednesday.
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