Las Vegas Sun

June 28, 2016

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Eli Segall

Business Reporter

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Story Archive

Why are high-rises missing from the construction rebound in Las Vegas?
Monday, June 27, 2016
Southern Nevada’s once-pummeled construction industry has bounced back from the depths of the recession, with builders putting up housing tracts ...
Q+A: Director of UNLV research center sees no downside in local economy
Thursday, June 23, 2016
UNLV’s Center for Business and Economic Research plans to host a midyear economic outlook conference today. The center's director, UNLV professor Stephen Miller, spoke with VEGAS INC this week about the economy, including the housing market and the possible effects of ...
Hoping to spark retail activity, Lake Las Vegas welcomes new grocery store
Wednesday, June 22, 2016
Lake Las Vegas developers have opened a small, waterfront grocery store, part of a broader campaign to boost business in the opulent Henderson community. Executives with Raintree Investment Corp. held a ribbon-cutting ceremony ...
Ten years after: Looking back at homes sold during bubble era’s peak
Thursday, June 16, 2016
Las Vegas’ housing bubble reached its most bloated point 10 years ago this month, at least by one gauge: resale prices hit their peak. In June 2006, the median sales price of previously owned single family homes in Southern Nevada rose to $315,000, according to the Greater Las Vegas Association of Realtors. Prices eventually plunged 63 percent to a low of $118,000 in January 2012, after the bubble burst and ...
In North Las Vegas, squatting problem prompts coordinated crackdown
Complaints of crime and squalor lead to multipronged effort
Friday, June 10, 2016
North Las Vegas, arguably more prone to squatters than much of Southern Nevada, is using a multipronged approach to curb the problem: Police, code enforcement and utilities officials say they’re working ...
A weight lifted: Las Vegas no longer has greatest share of debt-laden homes in U.S.
Tuesday, June 7, 2016
An estimated 20.2 percent of Las Vegas-area homeowners with mortgages were underwater in the quarter ending March 31. That was second to ...
Fewer Las Vegas homes sell, but prices are higher
Tuesday, June 7, 2016
After nearly a year of flat prices, Las Vegas houses sold at a noticeably higher level last month amid shrinking sales totals ...
Why many Nevadans might benefit from proposed curbs on payday lenders
Wednesday, June 1, 2016
A federal agency has proposed new regulations for short-term, high-interest lenders in an effort to end borrowers’ “payday debt traps.” The proposal would require lenders ...
In Las Vegas, house flipping remains frequent but less profitable
Wednesday, June 1, 2016
Investors are flipping houses at a faster pace in Las Vegas than in most metro areas, but their profit margins are smaller here compared to ...
Ex-BLM head stood to benefit from sale of Henderson land, watchdog reports
Tuesday, May 31, 2016
Bob Abbey, former head of the U.S. Bureau of Land Management, was “personally and substantially involved” in selling Henderson land for a multi-venue sports complex to developer Chris Milam and …
Is the Southern Nevada housing market poised for a rural rebound?
Friday, May 27, 2016
When Ted Price was looking to buy Valley Heights, a failed subdivision in Logandale with streets and utilities but few houses, he noticed a few things about this rural town. There was no graffiti or litter, and locals seemed to be involved in the community. And as it turned out, he was probably ...
Why L.V.’s biggest industrial real estate developer is feeling confident
Tuesday, May 24, 2016
Real estate magnate Jordan Schnitzer is one of the biggest landlords in Las Vegas, with millions of square feet of warehouses under his control. With the market heating up ...
Las Vegas ‘zombie’ foreclosures remain grave concern despite dip
Wednesday, May 18, 2016
Las Vegas’ share of “zombie” foreclosures has dropped from a year ago but still is larger than in most metro areas. Some 6.8 percent of Las Vegas-area homes in ...
Senior surge: Why age qualified developments are making a comeback in Las Vegas
Tuesday, May 17, 2016
Senior housing developments are making a comeback in Las Vegas. But this time around, though, don’t look for the type of senior development that was built for ...
Hsieh-backed apartment project kicks off construction downtown
Monday, May 16, 2016
Downtown Las Vegas’ Fremont Street has come a long way in recent years. It still lags other big cities’ urban cores, but an ingredient that many people see as critical to Fremont’s revival is now taking shape ...
Is apartment sector in Las Vegas heating up too quickly?
Monday, May 16, 2016
Amid a national apartment boom, Southern Nevada’s multifamily market has bounced back from the recession faster than other segments of the real estate industry. Property pros …
Mortgages issued to Las Vegas home buyers trail national numbers
Wednesday, May 11, 2016
Lenders issued a bump in mortgages to U.S. homebuyers in recent months compared to last year, but such financing ...
Q+A: Why Goodwill is growing by leaps and bounds in Las Vegas
Wednesday, May 11, 2016
Goodwill of Southern Nevada is known as a place to donate clothing, electronics, kitchenware and other household goods. Someone out there wants your hand-me-downs, right? More than you might think — and Goodwill is betting big on it by ...
Curb appeal: This plywood alternative might better deter vacant-home break-ins
Friday, May 6, 2016
Las Vegas boards up about 100 homes per year, and about 10 to 20 percent of them are “constantly” broken into. Now, in an effort to prevent this sort of magnet for criminal activity, City Hall is testing whether boarding windows with an alternative to plywood will prevent ...
Las Vegas home market finds an even keel
Thursday, May 5, 2016
Las Vegas house prices stayed largely flat again last month, a new report shows, in yet another sign of the market’s ongoing cool-down ...
Tivoli Village expansion set to open in October
Tenants to include Canter’s Deli, Restoration Hardware
Tuesday, May 3, 2016
Owners of Tivoli Village have announced plans to open the Las Vegas property’s expansion, but their confirmed tenant lineup appears sparse. The expansion — part of Tivoli’s original plans last decade but shelved during the recession — would add ...
Las Vegas housing market rising from the grave
Monday, May 2, 2016
Left for dead during the recession, Las Vegas’ housing market has come back to life over the past few years. Buyers are picking up new and used properties. Homeowners are getting above water. Developers are building apartment complexes. Employment and wages ...
Allegiant boss Gallagher receives near-$3 million bonus
Friday, April 29, 2016
Reaping a windfall from record profits, Allegiant Air boss Maurice “Maury” Gallagher booked a nearly $3 million bonus last year, far above his usual payout, the company disclosed ...
Allegiant Travel revenue, earnings up in 1st quarter
Wednesday, April 27, 2016
The parent company of Las Vegas-based Allegiant Air, an ultra-low-cost carrier that flies mostly from small, underserved cities to warm-weather tourist spots, reported earnings today for ...
15 apartment complexes sold for $600 million might set precedent in Las Vegas
Wednesday, April 27, 2016
A Houston real estate giant has sold more than a dozen Las Vegas Valley apartment complexes, in what’s said to be the largest, local apartment deal in memory. Camden Property Trust announced Tuesday that it sold 15 apartment complexes, a retail center and about 19.6 acres of undeveloped land for $630 million combined. The company did not name the buyers. But people with knowledge of the deal said ...
Land investors gobble up 800 acres in BLM auction
Tuesday, April 26, 2016
After passing on hundreds of acres at government auctions last year, Las Vegas land investors scooped up almost everything offered Tuesday and paid above the asking price ...
BLM puts 800 acres of land up for auction
Friday, April 22, 2016
The federal government is offering more than 800 acres of Las Vegas Valley land to the highest bidders next week. But if last year’s auctions are any indication, buyers might ...
Las Vegas homeowners seeing big profits on sales
Wednesday, April 20, 2016
Las Vegas homeowners are booking the highest profit margins in years when selling their property, but amid flat prices, those gains have largely leveled off, a new report shows. Owners who sold ...
Amid widespread die-off of old malls, new owners breathe life into Boulevard center
Wednesday, April 20, 2016
When the Boulevard mall opened nearly five decades ago, newspapers heaped praise on the “shopping paradise,” saying it had more “charm and grace” than any other gathering ...
Report: New-home sales up, but prices flat
Tuesday, April 19, 2016
Las Vegas homebuilders are selling more houses and drawing up more construction plans compared to last year, but in some ways, sales volume has ...
Allegiant’s new credit card will be ‘un-frequent-flier program’
Thursday, April 14, 2016
Allegiant Air is a deep-discount carrier with almost no frills, not even a frequent-flier program. Now it’s gearing up to issue an Allegiant-branded credit card ...
Nevada has third-highest foreclosure rate, repossessions rise
Wednesday, April 13, 2016
Despite a drop in overall foreclosure filings, lenders have repossessed a rising volume of homes in Nevada compared with last year, keeping the Silver State among the hardest-hit areas in the country ...
Is Lake Las Vegas finally bubbling back to life?
Wednesday, April 13, 2016
Lake Las Vegas was one of the biggest real estate flops in one of the hardest-hit markets in the country during the recession, crushed by an avalanche of financial problems. Now ...
Q+A: How Henderson is tackling its squatter problem
Tuesday, April 12, 2016
The city of Henderson, according to its website, is “a place to call home.” Squatters are taking that to heart. Henderson police have received dozens of service calls since last fall about ...
The cranes have returned to the Las Vegas Valley
Sunday, April 10, 2016
Several developers have started speculative construction or are planning to, figuring demand for space is strong enough that properties won’t sit empty for long. If investors outstrip demand with a glut …
Attention, house hunters: Home expo getting underway Friday at Cashman
Thursday, April 7, 2016
House hunters can learn about Las Vegas’ builders and sprawling communities at a two-day expo this week. Real Estate Expo Las Vegas is scheduled to be held
Las Vegas-area home sales surge, prices unmoved in March
Wednesday, April 6, 2016
Las Vegas used-house prices were largely flat in March, continuing a months-long stretch of mostly unchanged prices, amid a big jump in sales volume. The median sales price of previously owned single-family homes in Southern Nevada last month was $220,000, down 0.2 percent from February but up 7.3 percent from a year earlier, according to a new report from the Greater Las Vegas Association of Realtors. Buyers picked up ...
The case of Bayzle Morgan, accused murderer and squatter
Monday, April 4, 2016
Accused murderer's lawyer says it’s “really fishy and suspect” that Metro publicly labeled his client a squatter.
Solving the squatter problem in Las Vegas
Monday, April 4, 2016
For years, particularly since the housing bust left many homes abandoned, people illegally have set up residence in empty houses. A new law aims to remove ...
Q+A: Why investor is sure buyers will seek out his southwest valley condos
Wednesday, March 30, 2016
During the boom years, it seemed everywhere you looked in Las Vegas a developer was planning an upscale condo project. But when the economy crashed, construction sites were ...
Report: Las Vegas home values furthest from peak
Friday, March 25, 2016
Las Vegas home values are on the rise — but they have more room to climb than any large metro area to reach peak levels again, a new report shows. The median home value in the Las Vegas area last month was $201,900, up 9 percent from a year earlier. Nationally, the median ...
After years of wild swings, Las Vegas home prices settle into a groove
Wednesday, March 23, 2016
Las Vegas home prices went through a wild roller-coaster ride the past decade or so, but the ride seems almost boring today. For the first time ...
Want to buy a town? There’s one on the market in rural Southern Nevada
Thursday, March 17, 2016
It’s dark and mostly empty in the low-slung, 1960s-era casino here, with a handful of people at the bar and just one or two others playing slots. The streets in this dusty, isolated town aren’t paved, but there’s almost nothing to drive to, anyway — no doctors offices, shopping centers or much else around here. But there’s plenty of ...
Investment group buys 39 units at suburban condo complex
Thursday, March 10, 2016
Nearly six months after buying dozens of condo units in a Strip high-rise, a San Diego investment group is laying a similar bet in the Las Vegas suburbs. Pathfinder Partners has purchased 39 units in ...
Q+A: Las Vegas homebuilder Canarelli hasn’t let hard knocks bring him down
Wednesday, March 9, 2016
Larry Canarelli spent his childhood in poverty, living in a tent alongside a river, in an orphanage and in shacks. But he’s long had an entrepreneurial bent and a strength for numbers. And over the course of more than 30 years, he’s built a Las Vegas homebuilding empire by ...
Sales of previously owned homes take off in February
Monday, March 7, 2016
Las Vegas used-home sales shot up last month from January as prices largely stayed flat again. Buyers picked up 2,112 single-family homes in ...
Allegiant becomes NASCAR’s first ‘official passenger airline partner’
Thursday, March 3, 2016
Allegiant Air has signed a sponsorship deal with NASCAR, in another effort to get its brand in front of racing buffs. The Las Vegas-based discount carrier signed a multi-year agreement with the ...
New-home sales up a little, prices down a little
Wednesday, March 2, 2016
Las Vegas homebuilders started the year with a bump in sales and a dip in prices compared to the beginning of 2015. Builders closed 382 new-home sales in Clark County in January, up ...
Howard Hughes Corp. report: Price per acre in Summerlin rose to $542K in 2015
Tuesday, March 1, 2016
Summerlin land sales kept sliding last year as the price of dirt climbed higher. Developer Howard Hughes Corp. sold ...
Stuck in neutral: Faraday Future hasn’t sparked land sales at Apex park
Wednesday, Feb. 24, 2016
If all goes as planned, Faraday Future's arrival would usher in thousands of jobs and possibly attract other development to the isolated industrial park. But so far, Faraday’s widely cheered site selection hasn’t sparked a ...

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