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October 10, 2015

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Eli Segall

Business Reporter

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Story Archive

Report: Las Vegas homes among nation’s most overvalued
Tuesday, March 31, 2015
Las Vegas’ housing market is one of the most overvalued in the country, as investors pushed up prices amid limited supply and a sluggish economy, a new report says. Fitch Ratings said today that housing demand ...
Report: Nevada among most financially illiterate states
Tuesday, March 31, 2015
Nevada is near the bottom of yet another ranking of Americans’ financial health, with dismal findings of consumer spending habits. The Silver State is second last among U.S. states and the District of Columbia for ...
Luxury Henderson apartment complex, abandoned during recession, ready for sale
Tuesday, March 31, 2015
When Paula Lane toured Vantage Lofts a few years ago, the stylish, mothballed Henderson condo complex was a scary sight. Windows were boarded up, birds were flying inside, upscale appliances had vanished, and air conditioners were caked in dirt. Today, Vantage is fully built and almost fully leased, and having turned things around, the landlord is ...

Poo patrol: Do your duty — or else
Friday, March 27, 2015
As the business manager at Vantage Lofts, an upscale apartment complex in Henderson, Jeffery Arterberry signs renters, manages finances and oversees maintenance. He also puts residents with pets on alert: the posh, pricey property has poop police. Vantage is one of a few Las Vegas Valley residential properties using ...
Las Vegas home prices leave wage growth in the dust
Wednesday, March 25, 2015
Las Vegas’ soaring home prices outpaced wage growth at one of the fastest rates in the nation the past few years. The average weekly wage in Southern Nevada last year was ...
Report: Rising interest rates could dampen home sales
Tuesday, March 24, 2015
Las Vegas homebuilders are seeing more signs of a turnaround, but with borrowing costs poised to rise, sales could fall again, according to a new report. Builders sold 474 new homes in ...
IKEA set to break ground next month on Las Vegas store
Tuesday, March 24, 2015
Fans of Swedish meatballs and self-assembly cabinets are one step closer to retail paradise. IKEA, the popular low-priced furniture chain, has set a ground-breaking date of April 9 for its first Southern Nevada location ...
As home prices slow, tougher for homeowners to get ‘above water’
Thursday, March 19, 2015
Las Vegas’ once-huge rate of underwater homeowners keeps improving, but as price-growth slows, the flow of borrowers escaping upside-down status has ...
Las Vegas foreclosure filings on the rise, report finds
Wednesday, March 18, 2015
Nevada’s foreclosure woes worsened last month as lenders seized more homes than in January and filed more default notices. One in every 569 homes statewide received ...
Now-vacant banking center at The Lakes once brought hope for Las Vegas economy
Tuesday, March 17, 2015
When the powerful out-of-state company looked to build a big facility in Nevada, there were high-fives all around. Backers said it would diversify the economy, pump in hundreds of technical jobs, lure other big business and improve the area’s image. The governor met with the CEO and, prodded to do whatever it takes, called ...
Comparing the hype: Citicorp then, Tesla now
Tuesday, March 17, 2015
Here’s what people said then, as Citicorp was being lured to Las Vegas, and recently, as Nevada was luring Tesla to build a massive battery plant in Reno, as shown in letters of support, legislative testimony, news articles and ...
Rebuilding years in Southern Nevada
Monday, March 16, 2015
After the bubble and burst, Las Vegas’ commercial real estate industry is picking up again. Weak spots remain, but mothballed projects are being completed, warehouse construction is on the upswing, the bloated office
vacancy rate slowly is improving, investors are buying shopping centers at a fast clip, and land sales are climbing ...
CEO exits Las Vegas bank for marijuana startup
Thursday, March 12, 2015
John Sullivan made a name for himself as medical marijuana investors’ go-to banker in Las Vegas. Now, he has left his job and ...

Summerlin-area penthouse sells for a whopping $7.7 million
Wednesday, March 11, 2015
A Canadian real estate executive and his wife bought a penthouse in the opulent One Queensridge Place towers, in what’s reported to be the most ...
Las Vegas trend of homes on market with no offers seen as ‘troubling’
Tuesday, March 10, 2015
Las Vegas used-home prices rose last month, but industry pros are worried by the continued, “troubling” rise in ignored, overpriced listings.
Real estate in Las Vegas: It makes great television
Tuesday, March 10, 2015
Las Vegas has been a major player in reality television for years, with shows about pawn shops, tattoo artists, hot rods, casinos, cage fighters, limo drivers and polygamists. Now another industry, synonymous with Las Vegas’ wild growth and economic collapse, is gaining more of the spotlight: real estate. Shows about house-flipping ...
New, 90-foot sign going up at the Gramercy
Wednesday, March 4, 2015
A few weeks after imploding the Gramercy’s never-finished condo tower, developers are building another high-rise of sorts at the ...
BLM sells $10.7 million worth of sand, gravel
Tuesday, March 3, 2015
Sand and gravel can be used in the construction of highways, high-rise buildings, power plants, airport runways and bridges, among other things.
Summerlin land values climb to $518,000 an acre
Monday, March 2, 2015
Land values soared in Summerlin last year, with developers commanding higher prices for property amid the opening of the community’s long-delayed retail center. Howard Hughes Corp. sold 280 acres of land ...
Allegiant’s fares stay low while its stock price soars
Friday, Feb. 27, 2015
If a family of four in Missoula, Mont., flies to Las Vegas for vacation this May, they’d pay at least $560 for tickets on budget carrier Allegiant Air. Not a bad deal — or they could scrap the getaway and buy a mere three shares of Allegiant’s ever soaring stock, which closed Thursday at ...
Report: House flipping in Las Vegas has scaled back but remains lucrative
Thursday, Feb. 26, 2015
House flippers are slowing down in Las Vegas and making less money than investors nationally, but they’re still doing plenty of deals here and ...
A tale of two ‘bargains’: One Las Vegas home sold for $8M, the other for $10K
Wednesday, Feb. 25, 2015
At the base of Las Vegas’ western mountain range, a mansion in the Ridges, one of the wealthiest and most exclusive areas of town, has a movie theater with a 15-foot screen, a fitness room, a 4,600-square-foot guest house and a sleek pool area fit for a boutique hotel.
Six former Food 4 Less stores reopening as Smith’s
Tuesday, Feb. 24, 2015
A $25 million makeover turning six Food 4 Less discount grocers in the Las Vegas Valley into Smith’s Food & Drug stores is nearing completion. Management will reopen the stores as ...
Analyst: Home sales picking up, but market still fragile
Friday, Feb. 20, 2015
Las Vegas homebuilders started 2015 on a positive note, even though plenty of weak spots remain, an analyst said. Southern Nevada builders sold 355 new homes in January, down 12 percent from ...
Analysis: Is construction-defect law stunting Nevada’s housing market?
Friday, Feb. 20, 2015
Las Vegas’ once-battered housing market has improved the past few years but remains riddled with problems such as foreclosures, underwater borrowers, flat wages and ...
Businesses opening in downtown Las Vegas high-rise
Wednesday, Feb. 18, 2015
The Juhl, a downtown Las Vegas high-rise, is getting some long-awaited retail. Management announced today that it has signed leases with six businesses to ...
Gravel auction another sign construction industry bouncing back
Tuesday, Feb. 17, 2015
Federal lands officials are selling raw construction materials to the highest bidders in Southern Nevada again, another sign the building industry is back from the dead. The U.S. Bureau of Land Management next month plans to ...
Las Vegas toasts goodbye to the Gramercy
Sunday, Feb. 15, 2015
It was almost 7:30 in the morning, on a Sunday no less, but in Las Vegas, when a building is about to be imploded, it’s never too early for a bloody mary or a mimosa. Under tents, drinks were flowing today as a crowd watched the Gramercy’s residential tower, for years a visible scar of Las Vegas’ building bust, imploded with copper-clad plastic explosives and dynamite ...
Demolition expert prepares for second Las Vegas implosion in a week
Friday, Feb. 13, 2015
Less than a week after imploding the off-Strip Clarion hotel, Ken Mercurio, owner of Reno-based Diversified Demolition Co., was preparing another multistory tower for ...
Got beer? Forgot shampoo? Take your pick of pharmacies on the Strip
Thursday, Feb. 12, 2015
Las Vegas’ resort corridor is peppered with Walgreens and CVS Pharmacy stores, with more on the way. The chains are drawn to the Strip for its heavy foot traffic and tourists’ universal need for water, snacks, medicine and the not-so-occasional hotel-room party.
Landlords want them because pharmacies are stable tenants that ...
Lenders are back to putting squeeze on delinquent Nevada homeowners
Wednesday, Feb. 11, 2015
After backing off for a while, banks ramped up the pressure on delinquent Nevada homeowners last month, seizing more homes and starting the foreclosure process on ...
Investors buy 127 acres at Lake Las Vegas for new neighborhoods
Wednesday, Feb. 11, 2015
Southern California investors have acquired a big swath of land at Lake Las Vegas, the upscale and long-struggling Henderson development. R.Y. Properties and its partners recently bought 127 acres for ...
Las Vegas home market endures sluggish month
Tuesday, Feb. 10, 2015
Las Vegas’ housing market started the year with mixed results, as prices were up from a year ago but sales totals dropped.
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 ...

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