Home prices in the US fell by 15.6% Las Vegas homes have reached a new median price not seen in many years. The median price of a Las Vegas home is hovering around the 140,000 mark. The real estate market in Las Vegas has been hard hit with foreclosures and short sales. A short sale [...]
$8.5 billion Las Vegas complex to showcase earth-friendly features Developers of the CityCenter complex have pledged that the $8.5 billion, 18-million-square-foot complex will be the most earth-friendly thing to happen on the Strip, Reuters reported. With this huge investment, this project has been closely watched, Reuters said. Amidst this huge investment, Las Vegas ranked No.5 [...]
The downturn of the real property market in Las Vegas has taken its toll on the local millionaires. According to Capgemini, a consulting firm that publishes U.S. Metro Wealth Index, the percentage of Las Vegas millionaires decreased by 38 percent in 2008, second only to Orlando’s 42 percent. Phoenix was listed third, losing 34 percent [...]
July home sales in Las Vegas second-best on record Greater Las Vegas Association of Realtors reported that 4,602 homes, condominiums and townhomes were sold in Las Vegas last month. That’s down one-hundred from June but still the second-best showing on record, the association of realtors said. Of the 4,602 homes, condominiums and townhomes sold in [...]
1 in every 85 Las Vegas households received foreclosure filing in July One in every 85 households in Las Vegas received a foreclosure filing in July, this according to data aggregator RealtyTrac. Out of 230 metro areas tracked in July, the data aggregator said Las Vegas ranked No.5 in the metro foreclosure rate rankings. Zions [...]
Survey finds more US home sellers reducing prices One in every homes for sale in the US from June 1 to August 1 had their prices reduced at least once since being placed on the market, this according to the latest survey conducted by Trulia.com. The Trulia.com survey showed that 24.4 percent of US homes for [...]
Condo prices in Las Vegas fell by 54.1% CNN reported that condo prices in Las Vegas fell 54.1% compared with the second quarter in the previous year and dropped 11.7% between the first and second quarters of this year. The median price of condo units in Las Vegas now stands at $66,400, CNN said. Nationwide, [...]
Rising unemployment placed downward pressure on real estate market Loss of jobs, as well as the decrease in demand, placed downward pressure on Las Vegas real estate market, this according to Applied Analysis, a Las Vegas business advisory firm. With the rising unemployment, Las Vegas leads the nation in foreclosure. The Greater Las Vegas Association [...]
90% Las Vegas borrowers may find themselves underwater Deutsche Bank reported that 90 percent of Las Vegas borrowers may find themselves underwater. A homeowner with a mortgage may find himself underwater when the amount he owes exceeds the home’s current value. At present, more than half of Las Vegans homeowners-borrowers are already underwater. Just as [...]
Sales in luxury homes stalled Gone is the time when sellers of smaller houses graduate into the million-dollar homes. Sellers of smaller houses are not moving up because most of these sellers are distressed sellers in short sales. CNN reported that demand in million-dollar homes or luxury homes is specifically down in Las Vegas–a place [...]