Eli Segall

Business reporter

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Deciding whether to rent or buy a home getting more complicated: Thursday, May 16, 2013; Deciding whether to rent or buy a house in Las Vegas seemed pretty simple last summer: owning was cheaper than renting within two years of purchase.
These new eateries, stores are opening at Town Square: Thursday, May 16, 2013; On the heels of some store closings, Town Square has snagged several new retail tenants. But like any other retail hub, Town Square, located south of the Strip, has had turnover.
Only in Las Vegas, where home construction and foreclosures surge simultaneously: Wednesday, May 15, 2013; Homebuilders in the country’s largest cities are getting ready for a boost of work, but only in Las Vegas are they ratcheting up plans as foreclosure activity rises, a new study shows.
More and more million-dollar homes being snapped up in Las Vegas: Wednesday, May 15, 2013; After some chilly years, Las Vegas’ luxury housing market is heating up. There were 85 sales of million-dollar homes in the three months ending March 31, up from 39 deals in the same period last year.
Lake Las Vegas, long viewed as a bust, is rebounding: Wednesday, May 15, 2013; A few years ago, Lake Las Vegas was on the verge of collapse. Foreclosures swept through the bankrupt Henderson project as home values and retail sales plunged. Shuttered golf courses turned brown. The project’s only casino closed because an adjacent hotel locked its doors. Even a man-made waterfall was turned off. Now, the lavish project described for years as a financial bust is slowly nursing itself back to health. Home prices are on the upswing, hotel occupancy is inching higher, and new tenants are joining the retail district. Since July, Wall Street billionaire John Paulson’s firm has bought more than 900 acres of land there.
Why a solar panel company is moving into a mall and a business group moved out: Wednesday, May 15, 2013; A fast-growing Silicon Valley company is gobbling up Las Vegas office space as it moves into Nevada and, ironically, takes over the offices of a group that works to bring new companies to the state.
Former presidents, a famous basketball coach and two billionaires speak in Las Vegas, but you can't know what they said: Saturday, May 11, 2013; The investment industry’s SkyBridge Alternatives Conference, or SALT, held this week at the Bellagio, featured a who’s who of global politics and business. But despite the fact that thousands of people watched them speak, not a word of what they said can be shared publicly.
BLM kills land deal for Henderson stadium site: Friday, May 10, 2013; Federal officials on Friday pulled the plug on a possible attempt by Chris Milam's lenders to develop the 485-acre site near the M Resort where Milam planned to build an indoor arena and three stadiums.
Summerlin's surge in land sales signals a healthier Las Vegas housing market: Thursday, May 9, 2013; Summerlin land sales almost quadrupled last quarter from a year before, a sign of homebuilders’ increased appetite in Las Vegas.
Commercial real estate a bargain in Las Vegas, but what about income potential?: Thursday, May 9, 2013; Las Vegas’ commercial real estate market will not fully recover anytime soon from the recession, but it has one perk: low-priced deals for investors.
Thumbs up — or at least on the scanner — for Panorama Towers: Thursday, May 9, 2013; he Panorama Towers condo project offers high-rise luxury living near the Strip. It also offers high-level security with dozens of cameras, video-phones and fingerprint scanners.
Nevada maintains familiar perch atop foreclosure rankings: Wednesday, May 8, 2013; Nevada had the highest foreclosure rate in the country again last month despite having fewer distressed homes. One in every 360 housing units statewide had a foreclosure-related filing in April.
Nevada second to only Florida in mortgage delinquency: Wednesday, May 8, 2013; The percentage of Nevadans who are months late on their mortgage payments is falling, but it remains well above the national average. Nevada had a mortgage delinquency rate of 9.12 percent last quarter.
Construction begins on the first large-scale industrial development since the recession: Wednesday, May 8, 2013; FedEx Corp. started construction this week on a Henderson distribution center, the first piece of what eventually could be a large industrial hub. The Memphis, Tenn.-based shipping giant broke ground Tuesday on a FedEx Ground center near the M Resort and Henderson Executive Airport.
New manufacturing warehouses pop up valleywide while strip malls sit empty: Wednesday, May 8, 2013; There are good reasons why developers have avoided new commercial real estate projects in Las Vegas. Vacancy rates are sky high, rents are basement low, and it’s anyone’s guess whether the market will fully recover from the building bust. But one area of real estate is seeing a burst of activity, though some analysts question how long it will last. At least 910,000 square feet of industrial space is being built in the valley, with more in the pipeline.
In biggest deal of year, North Las Vegas mall sells for $50.5 million: Monday, May 6, 2013; A sprawling North Las Vegas shopping center has been sold for more than $50 million, the valley’s most lucrative real estate deal of the year.
Southwest Gas realizes 1st-quarter profits of $80.8 million: Friday, May 3, 2013; Southwest Gas Corp. narrowly raised its first-quarter profit after seeing a turnaround in its pipeline construction services unit. The Las Vegas-based natural gas provider on Friday reported earning $80.8 million of net income.
NV Energy posts $21.5 million profit as it cuts costs: Friday, May 3, 2013; Despite a dip in revenue, NV Energy nearly doubled its first-quarter profit this year.
'Reflection of the local economy': Health of community banks is improving: Friday, May 3, 2013; When John Sullivan took charge of First Security Bank of Nevada two years ago, Las Vegas’ banking industry was in shambles. Six local banks had been shut down, and almost every lender was losing money. Even if they wanted to make loans, the bankers lacked capital and credit-worthy clients who could repay a debt. Fast forward to 2013. What a difference a few years makes.
Report: Las Vegas among top spots to ‘flip’ homes: Thursday, May 2, 2013; Flipping homes in Las Vegas is not as common as it used to be, but it’s still a lucrative business. The Las Vegas Valley is the second best place in the country to “flip” a home, according to a new report from RealtyTrac.
From improper food storage to bugs, report lays out alleged violations at Firefly: Wednesday, May 1, 2013; Firefly Tapas Kitchen & Bar, the popular Las Vegas restaurant that temporarily closed last week after diners reported getting sick, was cited for a range of health-code violations, including fruit flies and small moths at the restaurant.
Firefly, closed over salmonella poisonings, has had health lapses in past: Tuesday, April 30, 2013; A popular Las Vegas tapas restaurant that closed last week after a supposed salmonella outbreak had received fluctuating health-inspection grades over the years.
Lake Las Vegas hotel getting new name — again: Tuesday, April 30, 2013; A Lake Las Vegas luxury hotel with a history of financial woes is changing its name for the second time. The 349-room Ravella at Lake Las Vegas will become a Hilton-branded hotel by June, said Benson Lee, regional director of hotel operations for landlord Kam Sang Co. The Mediterranean-style hotel already is listed on Hilton Worldwide’s website as the Hilton Lake Las Vegas Resort & Spa.
Suits in space? A North Las Vegas company is working with NASA to recruit executives for space missions: Tuesday, April 30, 2013; Just months after reaching a deal with NASA to build an inflatable space room, local entrepreneur Robert Bigelow is working with agency officials to find ways for business executives to participate in missions that could include trips to the moon and Mars.
Surging home values in Las Vegas expected to keep their momentum: Wednesday, April 24, 2013; After bottoming out a year ago, Las Vegas home values have soared and are expected to rise further, boosting the region’s fragile economic recovery. The Las Vegas Valley’s median home value was $138,800 as of March 31, at the end of the first quarter, up 22.3 percent from a year earlier, according to a report out Wednesday from Seattle-based research firm Zillow. Local home values hit bottom in the first quarter last year at $113,500.
Las Vegas office vacancy rate soars to record high: Tuesday, April 23, 2013; Las Vegas' empty office space hit an all-time high last quarter as rental rates continued to slide. The valley’s office market had a record 26.2 percent vacancy rate in the three months ending March 31.
Check of ‘wallet wellness’ finds Las Vegas looking sickly: Monday, April 22, 2013; Stung by a weak economy, Las Vegas has some of the fewest economic opportunities and highest stress levels in America, a new report says. The Las Vegas Valley is 28th out of the 30 largest metro areas for its “wallet wellness."
Awful finances aren't preventing Nevadans from shopping more: Monday, April 22, 2013; The local mini-spending boom is raising fears that people once again are taking on too much debt and returning to the bad habits of the boom era — buying stuff they can’t afford.
Need health care? You can head to a Wal-Mart or a strip mall: Monday, April 22, 2013; Shoppers stroll through Wal-Mart on Lake Mead Parkway in Henderson filling their carts with food, alcohol, toilet paper, kitchenware and clothing. You can buy almost anything at the superstore — including health care. Just steps from the cash registers, patients can get treated for bronchitis, high blood pressure or depression. Retail health clinics have spread around the Las Vegas Valley in recent years in chain stores and strip malls.
Billboards display wait times at 4 emergency rooms in valley: Monday, April 22, 2013; Driving around the valley, they are hard to miss: Billboards advertising ER wait times at Sunrise, Sunrise Children’s, MountainView and Southern Hills hospitals.
Local baseball legend Greg Maddux strikes out in real estate sale: Saturday, April 20, 2013; Former baseball star Greg Maddux was one of the best pitchers ever, thanks to his near perfect control on the mound. But in real estate, just like in baseball, you can’t win ‘em all.
New home sales up, but market remains fragile, analyst says: Friday, April 19, 2013; The home construction business keeps gaining speed in Las Vegas, but a local analyst is warning people not to get too excited. A total of 1,633 new homes were sold in the Las Vegas Valley in the three months ending March 31, almost double the same period last year.
Investors allege mismanagement by former Senate candidate's family, offer to buy them out: Thursday, April 18, 2013; Boston investment manager Shawn Kravetz wants to take control of some choice real estate on the north Strip, a potentially lucrative move. But he faces a big hurdle: failed Senate candidate Sue Lowden’s family. Kravetz, president of Esplanade Capital, recently offered $101.5 million to buy Archon Corp., which is majority-owned by the Lowdens.
Return of the housing bubble? Not in Las Vegas: Friday, April 12, 2013; With cash investors snapping up houses, Las Vegas’ real estate market has been heating up with rising prices and multiple bids for listings. But unlike last decade, the valley is not mired in a housing bubble, according to a new report.
Former nightclub promoter excels at selling million-dollar condos: Thursday, April 11, 2013; Condo sales at the opulent One Queensridge Place near Summerlin evaporated during the recession. But a former nightclub promoter is reviving interest. Randy Char was hired early last year to oversee sales and marketing for the two 18-story towers on Alta Drive at Rampart Boulevard. He hired a new sales force, cut prices and renovated the model units.
Nevada retakes dubious position as national foreclosure leader: Wednesday, April 10, 2013; Nevada is back on top — but no one will celebrate this No. 1 ranking. The Silver State had the highest foreclosure rate in the country in March, with one in every 306 housing units receiving a foreclosure-related filing, according to a new report from RealtyTrac.
Nevada investment fund looking for deals, others' cash: Thursday, April 4, 2013; In their quest for strong profits and minimal risk, managers of a Nevada state investment fund are looking for deals — and others’ cash.
Las Vegas one of best places to buy a home to rent out: Wednesday, April 3, 2013; As if the investors swarming Las Vegas didn’t know, the valley is one of the top places in the country to buy and then rent out a house, a new report says.
Southern Nevada Medicare patients told to find a new insurance provider: Wednesday, April 3, 2013; Hundreds of Medicare recipients in Southern Nevada have been forced to change insurance carriers after their provider was liquidated amid fraud allegations. Universal Health Care Insurance Co., which had about 1,800 customers in Clark County, was placed into receivership last month and liquidated Monday. Members were automatically enrolled in a government-run Medicare program and will not face a gap in coverage, federal officials said. However, the cost of their medical care could change under the new program.
Diagnosing the side effects of the Affordable Care Act: Health care reform is expected to expand patient coverage, increase hospital profits but also raise costs, increase wait times; Monday, April 1, 2013; Stephanie Nessmith once relied on a payday lender to get money for her daughter’s respiratory medicine. Skylar, 3, used to have insurance from the state but lost it because Nessmith earns too much – $11.50 an hour working at a Henderson UPS Store.
Local company makes sports fantasies a reality: Sunday, March 31, 2013; Sports super fans often shell out big money to support their favorite teams. They buy season tickets for home games, fly to away games and stock up on piles of merchandise. Sometimes, they get team tattoos. Their loyalty — and spending — knows no boundaries. A Las Vegas startup is trying to capitalize on those obsessions by putting hardcore fans even closer to the action.
Retiring casino exec selling condo for $9.8 million: Friday, March 29, 2013; A retiring casino executive is trying to sell his Las Vegas penthouse condo for $9.8 million. Wynn Resorts Chief Operating Officer Marc Schorr listed his 9,000-square-foot, two-story condo this month.
Grab your stuff and go: 'Zombie' homes abound in Nevada: Thursday, March 28, 2013; Nevadans who expect to lose their homes to foreclosure move out far more frequently than struggling borrowers in other states. Nevada has a “zombie foreclosure” rate of 50 percent, meaning half of all homes in the foreclosure process that aren't yet bank-owned are empty.
No deal reached: Stadium developer's team heads to mediation: Thursday, March 28, 2013; Two consultants who were sued alongside would-be sports arena developer Chris Milam are heading to private mediation after failing to settle the case. Milam's land consultant Michael Ford and public relations-lobbying chief Lee Haney have not reached an agreement with Henderson City Hall, said Dennis Kennedy, a lawyer for the city, which sued the group on fraud allegations two months ago.
Q&A: Kevin Orrock, Summerlin president, on upscale community's future growth: Thursday, March 28, 2013; Developer Kevin Orrock has a job that many Las Vegans think is already done — building Summerlin. But he has plenty of work ahead.
Boulder City Hospital getting $16 million expansion, renovation: Wednesday, March 27, 2013; Federal agriculture officials have put the finishing touches on a deal to finance a $16 million expansion and renovation at the Boulder City Hospital. Construction is expected to start in the coming months and wrap up next year.
Unfinished Henderson condo project Vantage Lofts up for sale again: Wednesday, March 27, 2013; Developer Rich Crighton bought Vantage Lofts with plans to finish the mothballed Henderson condos and sell them at a steep discount.
Investors returning hipster flair to old Rat Pack apartments: Tuesday, March 26, 2013; Some real estate investors want to bring back the style and charm of an aging Las Vegas apartment complex where members of the famed Rat Pack once lived.
Report: Las Vegas land prices rising at ‘downright scary’ pace: Thursday, March 21, 2013; Las Vegas land prices are rising at an unsustainable and “downright scary” pace as the valley’s home building market continues to rebound, a new report says.
Tony Hsieh's group buys shuttered downtown casino for $14 million: Thursday, March 21, 2013; Tony Hsieh’s Downtown Project bought the shuttered Western Hotel for $14 million, giving his group another chunk of downtown real estate for a possible future project.