Despite the shifts, it’s not a buyer’s market yet, analysts say, though house hunters are in a better position now than they were a year ago.
Eli Segall’s Real Estate Insider column appears Saturdays in the Business section.
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The Lucky Dragon sold for much less than its developer and lender had said it was worth.
During the mid-2000s bubble, a developer set out to build a luxury condo tower where Eclipse Theaters now stands — and if he had followed through, it could have been a financial disaster.
More than a year after buying Crown Resorts’ land on the Las Vegas Strip, Wynn Resorts Ltd. has nixed a deal to buy the whole company.
Faraday Future is trying to sell more than 900 acres of land at Apex Industrial Park, offering up the site where it bailed on building an auto plant.
Compared to other sections of the valley, the east side is older and largely overlooked by developers. But its home prices are lower and, amid affordability concerns in the valley, buyers are showing up.
Despite the improved economy, land sales on the Strip have been sluggish for years, and values are nowhere near what sellers fetched before the economy crashed.
The peak boom-era median sales price of previously owned single-family homes was $315,000. Adjusting for inflation, the market has much more than a $15,000 gap from the previous high. In today’s dollars, the peak resale price was around $390,000.
Edwin Fujinaga, after being accused of running a massive Ponzi scheme, was at his golf course mansion in Las Vegas one day. He was handing over the keys, and stated something peculiar on his way out.
A month after he resigned from his casino company, billionaire Steve Wynn bought a suburban mansion for $13 million — the most expensive home sale of 2018 in Las Vegas.
The Cheyenne Commons strip mall looks like any other around Las Vegas, and same goes for the apartment complex next door, The Grove.
Around 7,000 single-family homes were on the market without offers at the end of November, up a jaw-dropping 54 percent from a year earlier and the highest level in two years, according to Greater Las Vegas Association of Realtors data, which the trade group pulls from its resale-heavy listing service.
What do you do with a failing mall like Primm’s? Someone could buy it and try to fill it with retailers, gut it for another use entirely or, in true Vegas style, implode it to build something else. For now, the mall will likely keep limping along.
The holidays are normally a time to slow down. But in recent years, real estate investors have squeezed in big, last-minute transactions in Las Vegas before the calendar flips to Jan. 1.