In the past few years, several developers received approvals for apartment towers but haven’t built them.
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Construction is gaining speed in Las Vegas, but if you want to see a glaring difference between today’s market and that of the mid-2000s bubble, just look at developer Jorge Pérez.
Zillow executives may say they’re not in the house-flipping business, but based on its first batch of deals in Las Vegas, that’s exactly what the company is doing: buying and then quickly selling homes.
As house hunters and real estate agents know, the inventory of homes for sale has dropped fast in Las Vegas.
When you’re as big as The Blackstone Group, shelling out hundreds of millions of dollars can be pretty normal stuff.
Las Vegas is one of the most popular places in America to flip houses, even though investors can earn a lot more money elsewhere. And slowly, it seems, they’re catching on to that.
Seven or eight years ago, Las Vegas’ housing market was all but dead. Today it’s reached the most heated levels in years.
Las Vegas, as we know, was the foreclosure capital of America during the recession. Job losses soared as borrowers throughout the valley fell behind on their mortgage and lost their home to lenders.
Construction has been picking up all over Las Vegas, with investors building subdivisions, retail centers, warehouses, apartment complexes and more.
Today, the property on Durango Drive at Hacienda Avenue is spruced up and on the market, ready to close the chapter on its blighted, beat-up past.