Local Economy

April 28, 2012

LAS VEGAS NEW HOME SALES PROJECTED TO RISE UP TO 5,000 THIS YEAR, AN INCREASE OF 1,000 FROM AN EARLIER PROJECTION

The battered new home segment is coming back slightly as resale inventory tightens and prospective
buyers find themselves competing against multiple offers from cash investors, housing analyst Dennis
Smith said Friday.

The President of Home Builders Research revised his projection upward to 5,000. New home sales fell
to the …

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Posted in Investing, Las Vegas, Local Economy, Statistics
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April 26, 2012

WELLS FARGO OFFERING DOWN PAYMENT ASISTANCE FOR QUALIFIED BUYERS UP TO $15,000 IN SELECT LAS VEGAS AREAS

Through the Neighborhood Lift Program designed to attract prospective home buyers to neighborhoods
struggling with high inventory of unsold homes.

Wells Fargo loan officers will explain the program and take applications during a May 4-5 event at the Riviera
Hotel convention center. Similar events have been held in Los Angeles …

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Posted in Buying, Investing, Las Vegas, Local Economy, Statistics
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April 25, 2012

NINE METROPOLITAN STATISTICAL AREAS,INCLUDING LAS VEGAS, POSTED NEW LOWS IN FEBRUARY IN A WIDELY WATCHED HOME INDEX RELEASED TUESDAY

They were the same cities that posted lows in January. Atlanta, Cleveland, Detroit, and Las
Vegas continue to have average prices below their January 2000 levels in the Standard
and Poor's/Case-Shiller home-price index.

Nationwide, home prices dropped in February in most major U.S. cities for a sixth …

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Posted in Buying, Foreclosures, Las Vegas, Local Economy, Statistics
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April 24, 2012

OLD LAS VEGAS CITY HALL UNDERGOING MAJOR SURGERY BY ZAPPOS

When it opened in 1973 news reports called city hall "ultra modern." That the now dated edifice was
marked by imposing center walls, stiflingly low interior ceilings, small offices and incredibly inefficient climate
control was once considered "cutting edge" seems laughable.

That the incoming tenants from online retailer Zappos,now …

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Posted in Las Vegas, Local Economy
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April 21, 2012

INVESTOR SAYS "LAS VEGAS REAL ESTATE VALUE IS LONG TERM"

George Wolin, the principal of Crescent Bay Holdings, from Scottsdale, Arizona, drove around the master planned North Las Vegas development by the recently bankrupt Olympia Group.

He realized that the $21 million price for 1.340 acres was a fantastic deal - 2 expensive Beltway interchanges required for the development have already been …

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Posted in Buying, Investing, Las Vegas, Local Economy, Statistics
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April 20, 2012

NEW HOME PRICES IN LAS VEGAS RISE IN MARCH

The new home price increased 3.3 per cent from February to $201,668, and is up 1.6 percent from
$198,400 from a year ago in the same month.

The resale median was $103,000, an increase of $2,200 from February but down from $107,000 a …

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Posted in Buying, Foreclosures, Las Vegas, Local Economy, Statistics
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April 17, 2012

NEVADA STILL AT THE BOTTOM OF THE U.S. HOUSING MARKET -

Foreclosures are down and home prices have increased in recent months, but that doesn't
mean that Nevada's housing market is on the way to recovery.

According to a Lending Tree Healthiest Housing Index released in late March, Nevada has the highest
loan-to-value ratio - over 110 percent - meaning that …

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Posted in Foreclosures, Las Vegas, Local Economy, Statistics
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April 16, 2012

DEPARTMENT STORE MACY's REPORTED A BETTER THAN EXPECTED SALES IN MARCH

THE LATEST SIGN THAT AMERICANS ARE FEELING BETTER ABOUT THE ECONOMY

A combination of warm weather and high demand for spring fashions boosted revenue for the month,
but analysts say there is more than that as Americans who cut back on their spending in the slow economic
recovery are encouraged …

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Posted in Buying, Las Vegas, Local Economy
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April 15, 2012

FEWER HOMES FOR SALE IN LAS VEGAS,DROPPING TO 4,901 IN MARCH, ABOUT A 6 WEEK SUPPLY

The total homes listed for sale in Henderson MLS and Vegas MLS fell to 18,200 in March, down 18
percent from 22,184 a year ago, when there were 11,334 available without offers.

That means homes under contract grew only slightly, from about 11,000 to 13,000 in …

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Posted in Foreclosures, Las Vegas, Local Economy, Short Sales, Statistics
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April 14, 2012

NEVADA FORECLOSURES DROP 62 PERCENT AS U.S. FORECLOSURE ACTIVITY RISES

More U.S. homes are entering the foreclosure process
setting the stage for a surge in repossessions by lenders
this year.

The number of homes that received notices of default
rose 7 percent in March from the previous month. That
marks the third consecutive monthly increase this year
and reflects …

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Posted in Foreclosures, Las Vegas, Local Economy, Short Sales, Statistics
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