You may be able to blow a ton of money in Las Vegas, but Nevada homeowners don’t have to roll the dice on real estate taxes.
Housing
After a multi-family housing complex in downtown Las Vegas was sold last year, rents dramatically increased, leaving cash-strapped residents scrambling to decide their next move.
The priciest and cheapest house sales of 2021 were separated by more than just many millions of dollars.
California real estate firm Ideal Capital Group acquired Jade, a new 287-unit rental complex near the Rio.
Southern Nevada logged the most resales on record in 2021, prices have been hitting new all-time highs practically every month, and houses have been trading rapidly.
Frank Nothaft, chief economist with housing tracker CoreLogic, spoke with the Review-Journal about the U.S. market’s trajectory during the pandemic and what might happen next.
The deal’s acreage and dollar amount were on par with, if not higher than, recent full-year land sales totals in the community.
Summerlin and three other Southern Nevada master-planned communities ranked among the 25 top-selling areas in the nation for homebuilders.
Last year’s sales tally topped the previous all-time high by nearly 2,000 transactions, and the median price hit $425,000 in December, also setting a record.
Responses to an online survey, open until the end of the month, will be considered as the county sets rules for the industry, officials say.
The 528-unit property is 95 percent occupied, the new landlord said.
Southern Nevada spent the past year grappling with the pandemic but also saw a burst of lucrative casino deals.
Southern Nevada house prices were up 25.5 percent year over year in October, compared with the U.S. rate of 19.1 percent, according to a new report.
Buyers paid a median price of $444,677 for newly built homes in Southern Nevada in November, up 11.5 percent from a year earlier.
A Southern California firm bought its second apartment complex in the valley and plans to keep spending big on the region.
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