Buck Wargo

Story Archive

Stallion Mountain golf course sold for $3.8 million, to reopen soon: Friday, July 8, 2011; A Colorado management company has bought Stallion Mountain Golf Club for $3.8 million, three years after it was closed by foreclosure. Tartan Golf, which selected OB Sports to manage the course, plans to reopen it within 30 days.
Las Vegas home sales surge in June as prices continue to fall: Friday, July 8, 2011; The demand for bank-owned properties in June spurred a jump in Southern Nevada home sales to one of its best levels in history.
UNLV index signals weak economy through rest of 2011: Friday, July 1, 2011; A UNLV index that measures economic growth fell in June, signaling that job creation is likely to be weak for the remainder of the year.
Rate of delinquent Las Vegas homeowners falls for 15th month: Thursday, June 30, 2011; The percentage of Las Vegas homeowners delinquent in their mortgage has fallen for 15 consecutive months, according to a California research firm.
Retail sales up this year in Las Vegas, but vacancies are, too: Thursday, June 30, 2011; The recovery for Las Vegas’ retail real estate market appears to be short lived. Colliers International Las Vegas reported the vacancy rate rose during the second quarter and the retail market is tailing off.
3 percent of Las Vegas homes sold to foreign buyers: Wednesday, June 29, 2011; Foreign buyers purchased 3 percent of the homes sold in Las Vegas during May, and Canadians led the way by an overwhelming margin, according to a report released today by San Diego-based research firm DataQuick. In a review of public records, DataQuick said investors and second-home buyers purchased 46.2 percent of all homes sold in May, down from a record 49.9 percent in March.
Western valley office development sold for $9.2 million: Wednesday, June 29, 2011; A mixed-use office development in the western valley has sold for $9.2 million as part of a receivership sale.
Report: Office and industrial vacancy rates fall in Las Vegas: Brokerage firm interprets numbers as meaning Las Vegas starting to attract tenants; Monday, June 27, 2011; The office and industrial vacancy rates in the Las Vegas area fell during the second quarter, prompting a brokerage firm to suggest the city is starting to attract tenants.
Construction restarts on unfinished NLV condo project: Wednesday, June 22, 2011; Construction has started on an unfinished condominium community in North Las Vegas.
More than 20 years until home prices reach pre-bust levels, Moody's says: Wednesday, June 22, 2011; Las Vegas homeowners will have to wait until 2020 to get back half the value of their home lost during the housing collapse and more than 20 years before getting it all back, according to a Pennsylvania research firm. The struggle of the housing market, in part, is why Moody’s Analytics forecasts the economic recovery will be slow in Southern Nevada.
Report: Median existing home price dips to $106,200 in May: Tuesday, June 21, 2011; The demand for existing homes in Las Vegas strengthened in May but that hasn’t stopped prices from falling, according to statistics released today by SalesTraq.
UNLV economic report forecasts modest recovery through 2012: Monday, June 20, 2011; A modest economic recovery under way will get stronger in the second half of this year and continue its gains in 2012, according to an assessment released today by UNLV.
Marketing key in making Glen Lerner a celebrity attorney: Monday, June 20, 2011; Close your eyes. Imagine Glen Lerner’s jingle. You can dial his number from memory, can’t you? In this age of speed dialing and cellphone-programmed contacts, how many telephone numbers can you remember?
Report: Retail vacancies to reach bottom this year: Saturday, June 18, 2011; The recovery of the retail real estate market remains elusive, but the bottom is in sight, a California brokerage and research firm says.
Nevada foreclosure filings fall in May: Wednesday, June 15, 2011; Nevada foreclosure filings in May fell 6 percent from April, but the state and Las Vegas retained their No. 1 ranking in the nation, a California firm reported. Nevada had 11,039 foreclosure filings in May, meaning one in every 103 homes had some type of foreclosure filing, RealtyTrac reported.
Denny's to open restaurant at downtown's Neonopolis: Tuesday, June 14, 2011; Denny’s has leased 5,308 square feet at Neonopolis in downtown Las Vegas at the Fremont Street Experience.
Contractors say they're left out of economic recovery: Friday, June 10, 2011; The Las Vegas economy may be improving but little of that is translating to the construction industry, according to a group that represents contractors.
Analysts say another wave of foreclosures could hit Las Vegas: Friday, June 10, 2011; Falling home prices in Las Vegas and prospects they won’t recover soon may trigger a new wave of people walking away from their homes. That’s the concern of those who track the Las Vegas housing market, which is undergoing its own mini version of a double-dip decline in prices.
Land that sold for $30 million fetches $4.4 million after foreclosure: Thursday, June 9, 2011; A 23.53-acre property at the Las Vegas Beltway and Hacienda Avenue that sold for $30.2 million in 2007 and was later foreclosed upon has been sold for $4.4 million.
Las Vegas home sales, prices notch rebound in May: Wednesday, June 8, 2011; Southern Nevada home prices and sales rebounded slightly in May, according to statistics released today by the Greater Las Vegas Association of Realtors. The median price registered a rare monthly increase, at $126,000.
Local business execs turn more gloomy on economic recovery: Wednesday, June 8, 2011; The weakening national economy has prompted pessimism among Las Vegas business executives about the local recovery, especially when it comes to hiring, according to survey conducted by UNLV.
Las Vegas land prices down 83 percent from 2007 peak, report says: Tuesday, June 7, 2011; Land transactions remain scarce in Las Vegas, but when deals get done, the price apparently has yet to find its bottom.
Delinquency rate for Las Vegas mortgages falls: Monday, June 6, 2011; The 90-day delinquency rate for Las Vegas mortgages continues to decline.
Shea Homes aims to make mark on housing with North Las Vegas properties: Monday, June 6, 2011; A California-based homebuilder saw opportunity in the Great Recession using the down economy in Las Vegas as a chance to enter the market.
Medical office vacancies increase slightly: Monday, June 6, 2011; The medical office vacancy rate edged up in the first quarter, but remains below the level of empty space a year ago, a brokerage reported.
Las Vegas home prices decline in first quarter in most ZIP codes: Monday, June 6, 2011; Fifty-one of 63 ZIP codes in Clark County recorded home-price declines in the first quarter, according to a San Diego-based research firm. Eleven ZIP codes reported price increases.
Conference looking at local housing market: Monday, June 6, 2011; The UNLV Center for Business and Economic Research will focus on the Las Vegas housing industry in its mid-year conference June 20.
Economic index’s rise could signal Las Vegas job growth: Friday, June 3, 2011; As fears are stoked about the U.S. economic recovery, a UNLV index released today shows Southern Nevada could be adding jobs by the end of the year.
Marnell Companies executive announces retirement: Friday, June 3, 2011; James Barrett Jr., the Marnell Companies' senior financial adviser and a member of the board of directors, announced his retirement from the company, effective July 1. Barrett has been with the company for almost 30 years.
California company acquires office development in western valley: Thursday, June 2, 2011; California-based MIG Real Estate has acquired a mixed-use center on North Rainbow Avenue.
Analyst expects Las Vegas economy to pick up in 2013-14: Monday, May 30, 2011; A prominent real estate economist said the housing market will weaken further but he expects the Las Vegas economy to “pick up steam in 2012” and really start to “take off” in 2013 and 2014.
53 percent of home sales in Nevada involve foreclosures: Thursday, May 26, 2011; Nevada foreclosures accounted for 53 percent of residential sales in the first quarter and those units sold for 18 percent less than traditional sales, according to a report released by a California research firm.
Interest in property auction may bode well for Las Vegas real estate market: Friday, May 20, 2011; Eighty-four percent of foreclosed commercial properties and bank notes up for auction this week in Nevada sold for more than $341 million, prompting analysts to suggest it will set a bottom price and spur investors to jump into the market.
Retailers optimistic about future of Las Vegas market: Friday, May 20, 2011; The Las Vegas retail industry is faring its best since 2008, but analysts cautioned it could take another four to five years before it fully recovers. “We’re in the best shape we been in three years, and the last six months is the strongest position we have been in as a shopping center industry in that time,” said Nick Hannon of Territory Inc.
Number of renters on the rise in Las Vegas Valley: Wednesday, May 18, 2011; Las Vegas has become even more a city of renters during the past decade and has seen a large increase in vacant housing units, according to the latest data released by the U.S. Census Bureau.
White House again clarifies president’s words on Las Vegas: Wednesday, May 18, 2011; White House to Las Vegas: Let’s try this again. “I think (President Barack Obama’s) message got blown way out of proportion for what he was intending ...” said Valerie Jarrett, a senior White House adviser.
Nevada leads nation in foreclosures for 52nd month: Tuesday, May 17, 2011; Nevada bank repossessions jumped 23 percent in April to an all-time high, but the pipeline that leads to foreclosures has slowed down dramatically, according to a report from a California research firm.
Apartment rents in Las Vegas rise along with occupancy rates: Tuesday, May 17, 2011; Las Vegas apartment occupancies rose during the first quarter and that helped to increase rents, according to numbers released today by a research firm.
Las Vegas existing home sales brisk as prices continue to tumble: Monday, May 16, 2011; The Las Vegas new-home market is getting worse, while sales of existing homes remain brisk amid falling prices, according to statistics released Monday by a research firm.
Is renting the new American Dream?: For the first time in most of our lifetimes, the key element to achieving the American Dream—owning a home—is taking a beating. Today’s question: Is renting really so bad?; Monday, May 16, 2011; I can hear Grandpa in my head. Owning a home was a huge part of the American Dream, and it was dutifully drummed into my head as long as I can remember. Only people who wanted to be poor threw money away on rent, I was told, over and over.
Annual shopping center convention will bring 30,000 to Las Vegas: Wednesday, May 11, 2011; With Las Vegas’ retail vacancy rate remaining above 10 percent, this year’s convention of the International Council of Shopping Centers can help fill some of that space.
Small Business Administration loans for Nevada at highest point since 2008: Tuesday, May 10, 2011; The amount of Small Business Administration loans guaranteed in Nevada has reached its highest level since prior to the recession.
Mortgage fraud report indicates progress made in Nevada: Tuesday, May 10, 2011; Nevada has cleaned up its act when it comes to cases of mortgage fraud, according to a new report. For the third consecutive year, Nevada has stayed out of the top 10 states in cases of mortgage fraud and misrepresentation.
Are the wealthy fleeing? 'It all collapsed,' says businessman who lost millions: Las Vegas man featured in national report shares story of economic downturn; Tuesday, May 10, 2011; When Eric Petersen came to Las Vegas from Northern California in his Volkswagen van 20 years ago, he quickly learned it was the land of opportunity.
Company forecasts 20.9 percent drop in Las Vegas home prices through next year: Monday, May 9, 2011; A Wisconsin firm projects Las Vegas home prices will fall 14.2 percent this year and another 6.7 percent in 2012.
Las Vegas home sales see sharp drop in April: Monday, May 9, 2011; Southern Nevada home sales fell sharply in April and the median price of homes sold held steady, according to statistics released this morning by the Greater Las Vegas Association of Realtors.
Women making great strides in Nevada business: Nevada one of best places to start a business; Sunday, May 8, 2011; Horace Greeley once said “Go West, young man,” if an ambitious person wanted to succeed. The women who’ve ventured to Nevada have certainly found that true. Over the past 14 years, women have made the state one of the best places to start a business.
Analyst: Data show Las Vegas halfway through housing downturn: Thursday, May 5, 2011; A Las Vegas research analyst said today the number of homeowners who are delinquent in their mortgage payments suggests the region is only halfway through its housing crisis. A report released today by California-based research firm CoreLogic said the 90-day delinquency rate for homeowners improved in February.
Investors buy half of Las Vegas homes sold in March: Wednesday, May 4, 2011; Investors purchased a record half of all Las Vegas homes sold in March, according to a San Diego research firm that began tracking the trend in 2000. The sales figure was 49.9 percent, which is up from 41.5 percent in March 2010, according to MDA DataQuick.
Luxury shopping sector starting to bounce back, Saks exec says: Wednesday, May 4, 2011; The recession took a deeper toll on high-end luxury in Las Vegas than the rest of the country and the market will take longer to recover than others, the chief executive of Saks Inc. said.