Big homebuilders have been busy in early 2014 snapping up land.
Housing
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As bids on three luxury homes inched along at a painfully slow pace, Frank Trunzo reached deep into the tricks that made him a champion auctioneer.
A housing market on the brink of recovery has a potential new hurdle in its way. Local real estate observers say they’re concerned about a Jan. 1 rule that dramatically lowered the size of mortgage the federal government will back in the Las Vegas market.
Looks like California’s loss is Nevada’s gain.
The Bureau of Land Management held a major land auction Thursday at its northwest Las Vegas field office, unloading more than 160 acres of property, much of it around Blue Diamond Road and in other parts of the southwest.
Another year, another high foreclosure rate for Nevada. New numbers from Irvine, Calif., real estate research firm RealtyTrac ranked Nevada among the top five for foreclosure activity in 2013.
Two new parks broke ground in Henderson on Saturday.
A Thursday report from California research firm RealtyTrac found that 38 percent of homeowners with mortgages in Nevada owed more on their home than the property was worth in December.
The local housing market ended 2013 the way it began — with big annual gains in prices, but experts say prices will stabilize in 2014. The median home price of $185,000 in December was up 24.2 percent from $149,000 in December 2012.
Las Vegas has a commercial real estate market like no other.
U.S. home prices rose in October from the previous year at the fastest pace in almost eight years, and Las Vegas led the nation in annualized gains.
The Federal Savings Bank, a privately-held bank based in Chicago, has expanded into Las Vegas with the opening of its 11th loan production office nationwide.
If you don’t like the postage stamp-sized lots that were popular in Las Vegas during the housing boom, take heart.
The number of people who bought existing U.S. homes in November declined for the third straight month. Higher mortgage rates have made home-buying more expensive, and the lingering effect of the October government shutdown might have deterred some sales.