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July 30, 2015

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Eli Segall

Business reporter

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Story Archive

Zillow report: Housing playing field ‘strikingly unequal’
Monday, Feb. 9, 2015
Black and Hispanic mortgage applicants get approved for loans more often in Las Vegas than around the country, but locally, minorities still get rejected more often than whites, a new report shows. In Southern Nevada ...
Economist brings national perspective to the Las Vegas housing market
Friday, Feb. 6, 2015
Las Vegas, like much of the country, had a wild real estate boom last decade and a big bust with the recession. But things were more extreme here ...

Las Vegas ranks high for ‘zombie’ foreclosures
Thursday, Feb. 5, 2015
Las Vegas homeowners on the path to foreclosure pack up and leave more often than most struggling borrowers around the country. The Las Vegas area has a “zombie” foreclosure rate of ...
‘Vegas Modern’: Builder adding twist to re-energized luxury-home market
Thursday, Feb. 5, 2015
Blue Heron is developing three communities of high-end, desert-themed luxury homes in Henderson and building custom homes around the valley. Co-owner, lead designer and Las Vegas native Tyler Jones tries to blend indoor and outdoor space, and subtly packs his cube-shaped homes with ...
Many Nevadans’ personal finances put their economic future at risk, report says
Wednesday, Jan. 28, 2015
Nevadans may not be on the edge of financial disaster anymore, but their personal finances remain among the worst in the country, with many unable to “build a ...
2014 not a robust year for Las Vegas homebuilders
Tuesday, Jan. 27, 2015
Las Vegas homebuilders, after bouncing back strong from the recession, had a lackluster 2014. Sales volume dropped hard, prices were volatile, and after ramping up construction plans in the first half of the year, developers pulled back sharply ...
Protesters to rally against high payday lending fees
Monday, Jan. 26, 2015
With federal regulators scrutinizing payday lenders, activists in Las Vegas and across the country will take to the streets to protest an industry known for its sky-high fees. The Progressive Leadership Alliance of Nevada plans to ...
Crumbling, off-Strip tower in Las Vegas scheduled for daytime implosion
Friday, Jan. 23, 2015
Stardust. Desert Inn. New Frontier. Dunes. All famed Las Vegas casinos, all imploded in spectacular fashion. Add a property to this list of dynamite and destruction: the Gramercy ...
Investor: L.V. office building buy ‘an opportunity we couldn’t pass up’
Wednesday, Jan. 21, 2015
Real estate investor Chris Dornin, who buys financially troubled buildings in states slammed by the recession, has inked another deal in Las Vegas. Dornin recently bought City Centre Place, a six-story, 104,000-square-foot office building downtown, for ...
For $140 million, another portion of mall on Las Vegas Strip changes hands
Thursday, Jan. 15, 2015
Less than a year after buying most of Showcase Mall, a group of New Yorkers has apparently bought another chunk of the Strip retail hub for big dollars. Jordache jeans founders the Nakash family, real estate investor Eli Gindi and home-curtains manufacturer Elyahu Cohen have teamed up, property records indicate, to buy ...
Nevada sees foreclosure rate slide in 2014
Wednesday, Jan. 14, 2015
Foreclosures slowed drastically in Nevada last year, but the state remained one of the hardest hit in the country as banks eased off ...
Las Vegas bank-owned home prices lagging behind other resales
Tuesday, Jan. 13, 2015
After the Las Vegas housing market hit bottom in early 2012, bargain-hunting investors bought houses in bulk and pushed up prices valleywide — even for homes that had been trashed by vandals or past owners. But now, as the market cools and investors back out, busted houses ...
New CEO at Las Vegas real estate trade group
Monday, Jan. 12, 2015
A big trade group for Las Vegas real estate agents has a new top boss. The Greater Las Vegas Association of Realtors said today that it hired ...
Las Vegas home prices, sales rise despite sluggish time of year
Thursday, Jan. 8, 2015
Las Vegas used-home prices inched up last month to cap another year of growth, albeit a much slower rate than previous years. The median sales price of a single-family house was ...
After a busy 2014, what’s in store for Las Vegas real estate?
Wednesday, Jan. 7, 2015
In 2014, investors built retail, apartment and office projects in the suburbs, the housing market stayed volatile and new projects were proposed and took shape along the Strip. After a busy year, what lies ahead?
Beal Bank’s L.V. headquarters are tiny, but its $2.2B in deposits pack a punch
Wednesday, Dec. 31, 2014
Beal Bank USA’s headquarters in Summerlin is as plain and suburban as they come. It’s a strip-mall storefront, just two doors from a Domino’s Pizza and near a Hallmark store and ...
Pro hockey could have trickle-down effect in Las Vegas
Sunday, Dec. 28, 2014
If all goes as planned, the investors not only would give Las Vegas its first big-league sports club but also boost amateur hockey — a far smaller but still lucrative line of business ...
BLM sells another parcel for expanding senior housing project
Tuesday, Dec. 23, 2014
Federal officials have sold more land for a Las Vegas senior affordable-housing complex that’s under construction.
Allegiant taking $43 million write-down on 757 fleet
Monday, Dec. 22, 2014
Discount carrier Allegiant Air has written down the value of some planes, partly because of a sliding resale market. The Las Vegas-based airline’s parent, Allegiant Travel Co., said today it’s taking ...
Mass departure: Twenty leave Lionel Sawyer & Collins for rival firm
Monday, Dec. 22, 2014
Fennemore said today that nine Lionel Sawyer attorneys are joining its Las Vegas office and another 10 are joining its Reno outpost ...
Haggen grocery stores to open in Las Vegas
Pacific Northwest grocer purchasing 7 Albertsons, Vons stores
Friday, Dec. 19, 2014
A Pacific Northwest grocery chain is entering Southern Nevada with the purchase of seven Albertsons and Vons stores. Haggen, based in Bellingham, Wash., is buying the groceries as part of a 146-store acquisition in the western U.S. that stems from ...
Las Vegas’ underwater mortgage rate improving but still worst in nation
Tuesday, Dec. 16, 2014
Some 27.8 percent of local homeowners with mortgages were upside-down — meaning their debt outweighs their home’s value — in the third quarter. That’s down from 39.6 percent a year ago and ...
Report: Housing outlook not ‘warm and fuzzy’
Tuesday, Dec. 16, 2014
With home sales and construction plans sliding and prices flat, there’s little reason to feel “warm and fuzzy” about Las Vegas’ housing market next year, a new report says. Builders sold ...
Q+A: Las Vegas contractor talks city’s colorful past, surviving recession, stepping aside
Tuesday, Dec. 16, 2014
Frank Martin, the 67-year-old co-founder of Martin-Harris Construction, helped build Las Vegas, turning dirt lots into schools, office buildings and casinos. His company was hit hard by the recession, but survived. But now, with business improving, Martin is ready to call it a ...
Report: Nevada among top states for mortgage fraud
Monday, Dec. 15, 2014
Mortgage fraud is rising nationally and remains more active in Nevada than in almost every other state, a new report shows. Some 74 percent of U.S. home loans last year involved ...
Delayed 1,700-acre project to get first homes
Thursday, Dec. 11, 2014
The Olympia Companies has sold 80 acres at Skye Canyon — a fraction of the 1,700-acre project site — to Pulte Homes and Woodside Homes, executives said today.
For Las Vegas renters, pricey resort-like options increasing
Thursday, Dec. 11, 2014
Despite the still-sluggish economy in the Las Vegas Valley, investors are building a burst of higher-end rental complexes with larger units, lots of amenities and much higher prices. It’s unclear how many people want — and can afford — to live in them all, and whether too many developers are ...
Las Vegas home prices creep up as sales continue to drop
Tuesday, Dec. 9, 2014
The slowdown in Las Vegas' housing market is poised to continue next year, a new report says, as investors keep pulling back from the valley. The median price of single-family homes sold through the Greater Las Vegas Association of Realtors’ listing service in November was ...
Events facility Venue a potential boost for Fremont East
Thursday, Dec. 4, 2014
Years after buying the project site, nightlife entrepreneur Victor Perrillo is building an events facility on the cusp of Fremont Street’s rowdy bar scene. Construction is underway at ...
In Las Vegas, some recession scars are healing, others smarting
Wednesday, Dec. 3, 2014
Las Vegas was almost wiped off the map by financial hurricanes during the recession. But as things improve nationally and in America's gambling mecca, some problems just won't go away. The valley has made strides, but ...
Buyers spend more than $49 million at BLM land auction
Tuesday, Dec. 2, 2014
Homebuilders and other investors purchased 415 acres of land at a government auction today. The U.S. Bureau of Land Management sold the parcels, all in the southwest valley, for ...
Allegiant offering bargain flights in Thanksgiving promotion
Tuesday, Nov. 25, 2014
Allegiant Air is getting in on Thanksgiving sales mania again and — like many retail stores — it’s betting that customers will start bargain-hunting in the middle of the night. The Las Vegas-based discount carrier said ...
Pahrump electric utility to open Las Vegas office
Thursday, Nov. 20, 2014
A Pahrump electric utility is opening a satellite office in Las Vegas. Valley Electric Association, which serves about 45,000 people, has signed a lease for 6,500 square feet in Red Rock Business Center between Russell and Sunset roads just east of the 215 Beltway, in the southwest valley.
Builders struggle as new-home sales slow
Thursday, Nov. 20, 2014
Southern Nevada homebuilders continue to struggle this year, with lower sales and a rising volume of canceled deals, a new report shows. Local developers sold ...
Investors are flipping fewer Nevada homes, report finds
Wednesday, Nov. 19, 2014
Real estate investors aren’t flipping homes in Nevada as often as last year, but they’re still more active than flippers nationally. Flipping slowed nationally to ...
Las Vegas real estate market is a wild ride
Sunday, Nov. 16, 2014
Housing is a volatile business but seems more extreme in Las Vegas, with its long history of fast-paced construction, out-of-town investors and transient residents.
Allegiant fliers complaining about fees but still paying
Sunday, Nov. 16, 2014
Las Vegas-based Allegiant racks up consistent profits selling cheap airplane tickets with a bevy of add-ons, but some people view its latest fee as particularly unreasonable. On Sept. 1, the airline began charging customers, with some exceptions, $5 to print a boarding pass at airport ticket counters. But fliers are paying, and the fee is padding Allegiant’s earnings ...
Major Southern Nevada construction company being sold
Friday, Nov. 14, 2014
One of the largest construction firms in Southern Nevada is being sold. Martin-Harris Construction owner Frank Martin is selling his company’s assets to ...
Buy $38 million Palms penthouse, and they’ll throw in a Lamborghini
Thursday, Nov. 13, 2014
Phil Maloof’s rooftop penthouse at the Palms is packed with opulence, but after sitting on the market for five months without luring a buyer, his listing agents have thrown in one more perk: A Lamborghini. Under a fittingly flashy promotion, whoever buys Maloof’s $38 million Las Vegas party pad will get a two-year, pre-paid lease on a 2015 Lamborghini Huracán, with an option to ...
More than 250,000 flock to Downtown Summerlin in opening days
Wednesday, Nov. 12, 2014
At its opening extravaganza last month, Summerlin’s massive new retail center had fireworks, live music, food trucks and lots of visitors. The 1.6-million-square-foot Downtown Summerlin ...
Some Las Vegas contractors are having trouble hiring workers
Thursday, Nov. 6, 2014
With construction picking up in Las Vegas, some contractors are having trouble finding qualified workers. The Las Vegas area had 43,600 construction workers as of September ...
Work progressing on recession-stalled Beltway project
Thursday, Nov. 6, 2014
The former ManhattanWest, the stylish retail, office and residential complex that sat unfinished for years at Russell Road and the 215 Beltway, is being being completed by WGH Partners, which also is finishing construction on an abandoned condo project on Cactus Avenue at Bermuda ...
Henderson latest Southern Nevada city to launch home foreclosure registry
Wednesday, Nov. 5, 2014
In a region still stung by foreclosures, Henderson officials have kicked off the latest effort to track abandoned homes and prevent them from falling into disrepair. Nevada’s second-largest city this week launched a foreclosure registry at to monitor homes that are ...
Food 4 Less pulling out of the Las Vegas market
Thursday, Oct. 30, 2014
Discount grocer Food 4 Less is ditching Las Vegas. Management said today it is converting six locations in the valley to Smith’s Food & Drug stores — both brands are owned by Kroger Co. — and closing eight others as it exits the Las Vegas market. The conversions and closures will take place by early next year. Food 4 Less employs ...
Number of Las Vegans without bank accounts on the rise
Wednesday, Oct. 29, 2014
Some 15.3 percent of Las Vegas-area households reported using an “alternative financial service” in the past 30 days when surveyed last year, compared to 12 percent nationally. Another 14.6 percent of local households had used such services in the past year, versus ...
Investors’ retreat from Las Vegas housing market triggers sales slowdown
Wednesday, Oct. 29, 2014
When investors flocked to Las Vegas for cheap homes after the economy crashed, they resurrected the housing market with sorely needed ...
Hughes Center adding cheaper eating options at office park
Wednesday, Oct. 29, 2014
Owners of the Hughes Center are bringing a slate of new eateries to the Las Vegas office park. The Blackstone Group, which bought the 68-acre property last year for $347 million, recently started construction of ...
Report: Outlook for new-home sales not ‘too exciting’
Tuesday, Oct. 28, 2014
A sluggish year for Las Vegas homebuilders isn’t expected to pick up anytime soon, a new report says. Local builders sold 605 new homes last month, bringing the year’s total to ...
First mountainside home lot at Ascaya in Henderson sells — for $925,000
Tuesday, Oct. 28, 2014
Developers of Ascaya, the long-delayed mountain-mansion project in Henderson, have sold their first lot — a 0.46-acre parcel for $925,000. The sale closed Friday, property records show, and sales of two other lots are expected ...
Nevada solar plant workers get nearly $2 million in back pay
Thursday, Oct. 23, 2014
Federal labor officials have recovered almost $2 million in unpaid compensation for workers at a 1,600-acre solar-panel plant near Tonopah. The U.S. Department of Labor said today it recovered about $1.91 million in back wages and fringe benefits for ...

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