With the sales of homes beginning to rise in Las Vegas area, their prices are beginning to stabilize and there has been a very good reduction in the real estate inventory.  According to the experts, this is a positive economic indicator of consumer confidence.  According to the greater Las Vegas association of realtors, last month, there has been a recorded increase in the sales of single family homes and that it went up by 30 percent last month, compared to its average last year.   Closely three quarters of the real estate sold were on the real estate market for [...] Continue Reading…

Due to high losses in construction, Las Vegas’ total economic performance has changed.  The employment sector in Las Vegas has also been affected, as the some data shows, as of July 2009, there has been a decline of 6.6% in employment when compared to last year.  One of the hardest hit was the construction sector, which was averaging a high 15% of total employment in 2006, and now it is almost down to only 10%.  All the sectors of employment except education and health services are now experiencing losses, with also the leisure and hospitality sector down with an [...] Continue Reading…

Assigned last March 2009, the Negative Outlook is still continually reflecting the concern of Fitch that the duration and severity of the economic fall in Las Vegas and its effect on the city’s revenue could exhaust the city’s high financial reserves to a very low level that would take away its AA ratings considering that the economy of Las Vegas based highly on tourism.  Even when their reserves remain high, the city is now foreseeing a downfall over the medium term as its consolidated tax and property tax revenues fall.  Fitch admits its management’s ongoing expenditure reduction and stated [...] Continue Reading…

In Las Vegas, Certificates of Participation (COP) are being issued to be able to finance the construction of a new City Hall, which is part of a bigger plan to encourage private development in the city’s downtown area.  Debt service on the COP is protected by base rental payments that is made by the city to a lessor that is said to be an affiliate of a developer that is active in Las Vegas, Forest City Enterprises, Inc.  The obligation of the city to be able to make base rental payments is protected by a lease-purchase agreement and deed [...] Continue Reading…

Based on the real estate experts, the present value of homes in April in Las Vegas went up to peaks in more than a year.  The median value of present homes for April estimated to $126,000, the highest median price since March 2009 which amounted to $134,000. The price is $6,000 larger than March 2010. Prices are set to to go up since foreclosure sales have went down in the last couple of months. SalesTraq reported 4,323 existing home closings in April, 348 fewer than March but 3.6 percent larger compared to April 2009. Of the 4,323 sales, 1,636 [...] Continue Reading…

Almost everybody in Las Vegas is familiar with American West Homes, but in the past few years, it  held one of the biggest real estate event conducted by any real estate company in Las Vegas. According to real estate experts, they are watchfully hopeful about the coming recovery of the real estate market. It is already revealing signs of improvement. The total number of homes listed in the Multiple Listing Service is said to be about half the total it from last year, so the inventory is going down, which is a positive sign for the real estate market. [...] Continue Reading…

Presently, there is so much excess supply in the real estate market,people can’t build their way out of the recession. They are trying to find out how to get more productive in the market to be able to get more clients. Real estate experts say that for every boom, there’s a bust, but then there is always some kind of recovery, because that’s what usually happens in the market.According to real estate experts, people are tired of just reading bad real estate news waiting for something to happen. It’s time to take it to the next level Based on [...] Continue Reading…

Real Estate Company, American West presented to the public the American West Reserve located at Coronado Ranch last May 6, which was highlighted by a presentation of Las Vegas real estate expert Richard Lee, who said a positive turnaround could be expected in the real estate market in the near future. Although experts are not exactly sure about the exact time the turnaround would happen, they are very optimistic that it would happen very soon. According to a real estate consultant, it’s time for the real estate market to prepare for an upcoming recovery. At this phase in time, [...] Continue Reading…

Even though foreclosures has been one of the factors for the home values to go down over the last three years, based on the level of inventory available and the foreclosures happening presently, there seems to be enough foreclosures to lower prices. At the most, it might keep home values at their present levels. Banks have been functioning with homeowners in large numbers to make short sales possible by letting them to put their homes up in the market for less than they owe on the mortgage. Based on real estate experts, Las Vegas remains the leader with regards [...] Continue Reading…

According to the real estate experts, the total amount of delinquent real estate in their mortgage payments constantly went up in the Las Vegas valley, and banks has foreclosed a large number of homes across Las Vegas in April compared to its recorded foreclosures last March. RealtyTrac stated that Nevada kept its top ranking among all the US states with regards to the percentage of foreclosure filings for the 40th consecutive month. Las Vegas, which had one filing for every 69 households as recorded last April, had increase filing totaling to 10 percent last month when almost all of [...] Continue Reading…