Concordia Homes of Nevada has closed its sales offices and will be refunding deposits on homes that have yet to start construction, an industry source said Wednesday.
A 14,000-square-foot home at 59 Promontory Ridge in the master-planned Summerlin community closed escrow Oct. 3 for $11.5 million, the highest residential transaction so far this year in Las Vegas.
Foreclosures have nearly tripled in Clark County through September, and the number coming down the pike is growing, a California-based online foreclosure source reported.
Single-family home sales in Las Vegas tripled in September from the same month a year ago and inventory remained stable, but median prices dropped 31.8 percent, the Greater Las Vegas Association of Realtors reported Wednesday.
The housing woes of America’s families extend beyond higher mortgage payments to include large increases in a wide variety of other housing expenses, according to a report published Wednesday by the Center for Housing Policy.
Some 11,000 Nevadans will keep their homes and avoid foreclosure under a tentative agreement between state officials and Bank of America Corp. announced Monday.
With the city’s housing market stumbling in 2008, you might expect local home builders to back off on extras such as ecofriendly construction methods and materials.
The scene was like a Southern church revival, with preachers whipping into a frenzy those in the audience, who held onto every word as gospel.