An estimated 700 owners of homes in the Sun City Summerlin Community in Las Vegas can join in a constructional defect suit, the Nevada Supreme Court has ruled. They are part of a group of 1,200 owners that have sued on grounds effects exist in the exterior stucco of their residences. The developers, including Del Webb Communities, [...] [...more]
Nevada housing officials are plotting this week how to spend $72 million in federal funding to resuscitate neighborhoods blighted by foreclosures. The money might seem but a morsel of help in comparison with the $700 billion bailout package to rescue the financial industry that was rejected by the House of Representatives, but officials say it will [...] [...more]
Democratic presidential candidate Barack Obama is planning a stop in Las Vegas to rally supporters at Cashman Field.Campaign officials say the Illinois senator will host a “discussion with area voters” at the 9,000-seat stadium on Wednesday afternoon. The campaign says the event will begin at 5 p.m. Cashman Field is home to the Triple-A baseball team affiliated [...] [...more]
With July’s 13 percent decline in statewide casino revenues on the books, 2008 is headed toward recording the worst ever year-over-year percentage decrease in Nevada gaming win since authorities began collecting such data more than two decades ago. Through July, gaming revenues statewide are down 6.6 percent compared to the first seven months of 2007. On [...] [...more]
I hate green architecture. I can’t stand the hype, the marketing claims, the smug lists of green features that supposedly transform a garden-variety new building into a structure fit for Eden. Grassy roofs? Swell! Recycled gray water to flush the toilets? Excellent! But if 500 employees have to drive 40 miles a day to work [...] [...more]
Home foreclosures and delinquencies were above the national average in the second quarter in eight states, including Nevada, the Mortgage Bankers Association said today. The association’s report indicated more than 4 million homeowners nationwide with a mortgage — a record 9 percent — were behind on their payments or in foreclosure at the end of June. [...] [...more]
The Cosmopolitan has become an unwitting symbol of the region’s economic downturn since the resort’s primary lender, Deutsche Bank, started foreclosure proceedings in January. Observers thought the massive project was doomed after its owner, developer and chief architect defaulted on more than $900 million in loans. Some doubted the $3 billion-plus project would be completed — [...] [...more]
Thousands of valley homes are sitting vacant because of foreclosures. Las Vegas city leaders are taking notice of the problem and its impact on neighborhoods. A meeting on the foreclosure crisis got underway at 5:30 p.m. at the Centennial Hills Community Center near Buffalo and Deer Springs. While foreclosures are hurting many valley residents and neighborhoods, [...] [...more]
Southern Nevada’s self-storage market stayed robust during the first half of 2008, reports Marcus & Millichap, thanks partly to a softened residential market creating more transitional housing needs. Financing woes, increased foreclosures and a steady influx of new residents all translate into more self-storage activity, the Encino, Calif.-based real estate investment services company said. “People moving [...] [...more]
Though on a far smaller scale than its southern neighbor, North Las Vegas has achieved some tangible progress in its downtown redevelopment effort. In June, the city spent $16 million for 12 acres formerly owned by the Silver Nugget casino, where it will build its new city hall. In addition, the city is soliciting bids on [...] [...more]
