Housing and Urban Development Secretary Shaun Donovan stood at a street-side podium between two houses on Pine Valley Drive in Las Vegas.
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Under rules adopted Tuesday by the state Supreme Court, homeowners facing foreclosure will have a chance to modify loan agreements with their mortgage companies.
Call him a dreamer, but Panorama Towers developer Laurence Hallier is convinced somebody can make $10 million in the next three to five years on the purchase of his three-level, 7,000-square-foot “chairman’s penthouse,” advertised in the Las Vegas Review-Journal for $2.8 million.
Now that Nevada law allows public housing agencies to consolidate, the valley’s three housing authorities will move quickly toward becoming one “superagency” that would be among the largest of its kind in the country, officials said.
By ED VOGEL
Sales of existing homes increased for the fourth straight month in May and signs of a price bottom are starting to appear, Las Vegas housing analyst Dennis Smith said Wednesday.
LOS ANGELES — Home sales in the Western United States posted a 9 percent annual increase in May as homebuyers jumped on low interest rates and falling prices, according to two reports released Tuesday.
A wave of foreclosures is expected to hit Las Vegas as banks lift a voluntary moratorium that was extended from March to the end of May, though nobody has an accurate estimate of how many bank-owned homes will be added to an already bulging inventory.
CARSON CITY — Lawyers and residents warned the Supreme Court on Tuesday that banks and mortgage loan companies might try to circumvent a new state law designed to reduce the number of foreclosures in Nevada.
If everybody followed the rules, David Stone would be out of business.
It was a symbol of Las Vegas largesse during the good times. Now it’s an emblem of recession blues.
The first two waves of mortgage losses are mostly behind us but three more waves are coming, two of them in the housing market and one in commercial real estate, an executive for a New York investment firm said Friday.
Two men were indicted on theft charges Friday after authorities accused them of operating a foreclosure rescue scam in Las Vegas.
The mortgage crisis gripping the Las Vegas Valley has left many homeowners disenfranchised and looking for ways to escape the quagmire.
The Nevada Supreme Court will decide whether homeowners associations have the right to sue on behalf of individual homeowners in a case that could have a major impact on the number of construction defect cases filed in the state.
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