Jun 05, 2011 20:00 EDT
On one side of Gibson Road in Henderson sits Vantage Lofts, a cluster of half-finished structures developers once dreamed would house modern condominiums with sweeping views of the Strip. Touted as an alternative to typical suburban living, the $160 million development broke ground in 2005. Today, it sits empty. Chicken wire pokes from unfinished patches of stucco. Plywood covers holes where windows should hang. Shards of glass litter an entryway to the sales office. Across the street are three more half-finished structures - single-family homes. But these are not abandoned. In fact, every day construction workers add more touches. Soon, families will tour them and perhaps buy one of the dozens of houses planned for the development. A monument to the overbuilding of the boom sits next door to, well, more building. It's a puzzling sight. Why build homes when existing stock is so plentiful and cheap - and empty? In a city wracked by unemployment, foreclosure and out migration, new housin
Jan 01, 2011 19:00 EST
Housing recovery appears years away. Las Vegas has been stricken by an unfathomable number of home foreclosures. Most of the surviving homeowners owe more on their homes than they're worth in today's marketplace. Young families that thought they were buying homes on the cheap two or three years ago are now finding that they, too, are underwater.
Nov 23, 2010 19:00 EST
Data show continued
Sep 02, 2010 20:00 EDT
Walking away from a mortgage you can afford won't be the end of the story . The news is bad enough that three homeowners out of four in the Las Vegas Valley owe more on their houses than they're worth. And there's no comfort in the prediction that the local real estate market won't recover for years. For those two reasons, hushed discussions can be heard around the office water cooler, between spouses over dinner and at offices of lawyers and financial planners:
May 12, 2010 20:00 EDT
With federal incentives for homebuyers set to expire, experts had expected a spike in Southern Nevada home sales last month. When they took a dive instead, some read it as a sign of things to come.
Investors swoop in again, but do they bring a stigma? Instead of flipping homes and inflating values, new absentee buyers eat up excess inventory and fill properties with renters CUTTING INTO HOME SUPPLY Experts say current investors are helping homeowners by snatching up Southern Nevada homes. Last month, the valley had about 10,000 homes on the market, versus about 27,000 in September 2007. The lower the number, the better homes can maintain their value.
Mar 31, 2010 20:00 EDT
Instead of flipping homes and inflating values, new absentee buyers eat up excess inventory and fill properties with renters. Investors are increasing their share of the Las Vegas Valley housing market, renewing the debate about whether thatÕs good or bad news.
Feb 14, 2010 19:00 EST
If real estate agents are applauding the historic snowfalls pounding the Midwest and Northeast, little wonder.
Dec 26, 2009 19:00 EST
Aug 02, 2009 20:00 EDT
Investors are still mostly from California, but what theyÕre looking to gain from homes in Las Vegas has changed with the market.. Southern California investors a breed apart from those who contributed to the real estate collapse are converging on Las Vegas, hunting for bargains on single-family homes and driving strong sales in June, housing industry experts said.
May 27, 2009 20:00 EDT
National firm doesnÕt think new-home market will recover until 2012. Many analysts have weighed in on a possible recovery of the existing-home market.
Apr 11, 2009 20:00 EDT
Ian Hirsch has built a growing business by helping borrowers in distress hang on to their homes. Ian Hirsch is just getting warmed up. He turns on the speakerphone and a Cheshire cat grin crosses his face at a point when most people would slam down the phone in disgust.
Mar 30, 2009 20:00 EDT
Deep-pocketed investors are entering local housing market, giving hope to some. Cash is king in the Las Vegas housing market.
Mar 21, 2009 20:00 EDT
Its the scruples question of the day. Maybe of the year.