State officials are dimming the lights and preparing to phase out an ambitious but short-lived program initially intended to help people stay in their homes as Nevada’s housing market crumbled and home values plummeted during the Great Recession.
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The Northern Nevada town, near where electric car maker Tesla is building its $5 billion battery factory, ranked No. 1 in the nation for home flips in the second quarter, according to California research firm RealtyTrac.
A court settlement clears the way for construction to resume at the massive housing development 55 miles northeast of Las Vegas. At full build-out, Coyote Springs would be twice the size of Summerlin.
CARSON CITY — A joint money subcommittee Wednesday recommended shutting down Nevada’s Foreclosure Mediation Program, citing a recovering housing market and fewer participants than at the height of the recession when the program was established.