Thursday, May 31, 2007

Las Vegas Real Estate News 5/30/07

Las Vegas Real Estate News


Standards, regulation in place for electronic closings

Posted: 31 May 2007 07:00 AM CDT

Part 3: Paperless progress: Who's winning, who's losing

Who Needs a Computer? Getting Home Values Via Cell Phone

Posted: 30 May 2007 11:00 PM CDT

Housefront.com offers sales and price data via text message to house hunters, homeowners or even nosy neighbors. But some folks might not be pleased to see their name and how much they paid for their home prominently displayed on the Web.

'Subprime' Aftermath: Losing the Family Home

Posted: 30 May 2007 11:00 PM CDT

The fate of a middle-class enclave in Detroit offers a glimpse of the drama playing out across the U.S. Home loans are taking homeowners out of houses they've lived in for years.

Tax Strategy for Real Estate Hits Some Rocky Turf

Posted: 29 May 2007 11:00 PM CDT

The 1031 exchange is facing scrutiny as intermediaries in the tactic run into financial and legal woes.

6 Las Vegas luxury high rise condo Misconceptions Debunked.

Posted: 31 May 2007 01:58 AM CDT

There continues to be many misconceptions about the Las Vegas high rise condo market. Below are 6 examples.

Armarac at Interop <b>Las Vegas</b>

Posted: 30 May 2007 08:15 PM CDT

The bright colors are designed for construction and warehouse environments – you don't want to back a forklift into it – with more subdued colors for the retail environments, and for crowded big city environments where real estate is ...

Street level maps from Google

Posted: 30 May 2007 07:49 PM CDT

Known as Street View, this new Google Maps feature enables users to view and navigate within 360 degree street level images of select US cities, including the San Francisco Bay Area, New York, Las Vegas, Denver and Miami. ...

RCS Development Announces Plans for New Neighborhood Shopping <b>...</b>

Posted: 30 May 2007 02:53 AM CDT

The Las Vegas-based Gatski Commercial Real Estate Services is currently pre-leasing Patrick Neighborhood Plaza and Serene Neighborhood Plaza -- two of RCS Development's new, ground-up shopping centers in Las Vegas. ...

Spanish View Towers buyers sue over unreturned deposits

Posted: 30 May 2007 02:26 PM CDT

Sisters Allison Gaynor and Barbara Chandler and their late mother, Saralee Bowers, thought they had a secure deposit when they put down more than $600,000 on three luxury high-rise condos to be built in the southwestern Las Vegas Valley.

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Condo market points down

Posted: 30 May 2007 02:24 PM CDT

Potential supply is flattening and market demand is modest in Las Vegas' luxury condominium market, a local research analyst said.

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As Las Vegas grows, local residents fret, Lied study suggests

Posted: 29 May 2007 11:56 PM CDT

Rapid growth in Southern Nevada continues to be a major concern for local residents, a report from the Lied Institute for Real Estate Studies at the University of Nevada, Las Vegas said.

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Flying to LV a breeze

Posted: 29 May 2007 11:55 PM CDT

Number crunchers at Southwest Airlines are taking advantage of soft summer breezes to fly more passengers in and out of McCarran International Airport.

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Condo Inventory Drops

Posted: 30 May 2007 01:47 PM CDT

A recent report by Applied Analysis indicates that for the first time since 2003 when the condo-boom hit LV, that the inventory levels have declined. The total at the end of the first quarter of 2007 was 97,800, down from 98,400 at the start of the year.

Breakdown:

  • 4,200 units - completed
  • 13,400 units - under construction
  • 9,584 units - in pre-sales
  • 56,300 units - entitled but have yet to begin pre-marketing or sales activity
  • 14,300 units - suspended or cancelled
  • Re-sales of recently completed units appear to be impacting the pre-sales of new projects. An estimated 754 existing (resale) luxury units were on the market at the end of March 2007. Those units have an average asking price of $803,900, or $622 per sf. The average price of those that have sold is $764,500, or $537 per sf.

    Rising rates cut into home loan apps

    Posted: 30 May 2007 07:00 AM CDT

    Refis take sharp downward turn in MBA survey

    Real estate rates climb overnight

    Posted: 30 May 2007 07:00 AM CDT

    30-year fixed rate at 5.98%; 10-year Treasury yield at 4.88%