Local Economy
June 23, 2012
Maybe the banks are starting to figure it out. Instead of dealing with the legal challenges and expense of
foreclosures banks are now approving more short sales, or homes sold for less than the principal
mortgage balance.
According to David Brownell of Keller Williams Realty of Las Vegas, for the …
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June 14, 2012
Lenders initiated foreclosure proceedings against more U.S. homeowners in May, setting the stage
for increases in home repossessions and short sales - scenarios that could further weigh down
home sales in coming months.
Default or home auction notices were filed for the first time against 109,051 homes last month …
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June 9, 2012
Zappos.com CEO Tony Hsieh announced on Wednesday that the company will be handing it's Kentucky operations over to it's parent company Amazon.com.
This decision is a result of the company's focus on downtown Las Vegas redevelopment efforts and it's impending move of 1,300 …
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June 5, 2012
While development remains fairly moribund in the rest of the Las Vegas valley, there's suddenly
a diverse array of projects in various states of planning and completion downtown.
Here are just a few --
The Econo Lodge at 1150 Las Vegas Blvd. south is being sold to a non-profit group …
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June 4, 2012
A pilot program launched Friday in Nevada aims to help struggling homeowners reduce loan amounts and refinance if they are current on their mortgage payments but owe more than their homes are worth.
There are thousands of such Homeowners in Las Vegas, Henderson and Clark County.
Under the program announced by …
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June 2, 2012
In Las Vegas and Henderson, short sales are catching up with foreclosures. Nearly 30 percent
of existing home sales in April were short sales compared with 25% in March reported the Vegas Association of Realtors.
Meanwhile, bank-owned home sales declined 36.9% in April, down from 40.7% in March.
The …
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May 30, 2012
Prices, however, were unchanged in Las Vegas. The increase is the latest evidence of a slow recovery
taking place in the housing market.
The Standard & Poor's/Case-Shiller home price index shows that prices rose in 12 of the 20 cities tracked.
Three of the weakest markets showed signs …
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May 25, 2012
Median prices have risen and are expected to inch up over the next few months.
347 sales in April are a 34.7 percent increase from the same month a year ago, according to Home Builders Research.
Builders are seeing more traffic through new home sub-divisions as resale inventory has tightened, a …
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May 24, 2012
Chief Economist predicts the U.S. domestic product growth of 2 to 2.5 percent for the year. Overall, he
remains cautious about middle-class consumer spending, and expects the problems in the housing market to remain for some time.
"There is no easy way out for the housing market, especially in …
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May 23, 2012
Americans bought more previously owned homes in April, a hopeful sign that the housing market is
gradually improving.
The National Association of Realtors said that home sales rose 3.4 percent last month to a seasonally
adjusted annual rate of 4.62 million. Home sales have rebounded after falling in …
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