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April 17, 2014

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Eli Segall

Business reporter

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Story Archive

New-home sales in Las Vegas slowing, but still up from last year
Monday, Oct. 14, 2013
The Las Vegas home construction market softened last month compared to August, but overall, things remain stronger than last year. Southern Nevada builders sold 626 new homes in September, down 18 percent from August but up 6 percent from September 2012.
Then and now: What's a valley house worth?
Monday, Oct. 14, 2013
Las Vegas home prices have soared at some of the fastest rates nationally, making it tough for many people to find an affordable place to live. But compared with the boom years, house hunting in the valley these days is like walking the aisles of a dollar store.
Hope for Original Pancake House’s return up in smoke
Saturday, Oct. 12, 2013
Flapjack fans who were hoping that the Original Pancake House on Charleston Boulevard would reopen after a fire destroyed it last summer may be in for a letdown. Franchisee Stephan Freudenberger said this week he heard “through the grapevine” that the property owner wants to build a Walgreens drugstore at the now-vacant Las Vegas site.
How St. Rose Dominican is making ER waits more comfortable
Friday, Oct. 11, 2013
In the latest effort to lure patients with promises of a convenient ER, a Las Vegas Valley hospital group is letting emergency-room patients wait in the comfort of their own homes until they’re ready to be seen.
New short-sale rules send Nevada's foreclosure rate through the roof
Wednesday, Oct. 9, 2013
Nevada’s foreclosure rate almost doubled last month from a year ago as banks, facing new rules that could make it harder to seize distressed homes, cranked up pressure on delinquent borrowers.
Former Hostess bakery in Henderson to open under new ownership
Wednesday, Oct. 9, 2013
A former Hostess Brands bakery in Henderson that closed after the Twinkies maker went bankrupt will soon be up and running under new owners. Flowers Foods said today it will begin production later this year at the plant at 501 Conestoga Way.
Homeowners hope to cash in big on hot housing market, but buyers aren't biting on overpriced homes
Wednesday, Oct. 9, 2013
Las Vegas homeowners are getting greedy. With real estate prices soaring, many local residents are hoping to cash in and sell their homes for big dollars, in many cases more than they are worth. Homeowners should dial down their excitement, though.
Run of rising Las Vegas home prices reaches an end
Tuesday, Oct. 8, 2013
After a nearly two-year hot streak, Las Vegas home prices have started to cool off. But only a little. The median price of previously owned single-family homes sold in Southern Nevada last month was $180,000, down 1.1 percent from August.
Critics: New Nevada short-sale provision ineffective
Monday, Oct. 7, 2013
Nevada's "Homeowner's Bill of Rights" was pitched as a way to help underwater borrowers short sell their homes to family, friends or investors, then rent or buy them back. But now, some are questioning whether the law really gives homeowners the upper hand on banks, which frown upon such prearranged deals. Senate Bill 321, which took effect Oct. 1, was intended to ease the rules on "arm's length" agreements, which many financial institutions have required in recent years to ensure that owners retain no interest in their homes once they sell. But real estate lawyers disagree about how to interpret a key section of SB321, and many say it is vague and confusing. Critics argue it is ineffective.
Tivoli Village developers to begin second phase of construction next week
Friday, Oct. 4, 2013
Developers of Tivoli Village plan to start building the second phase of their stylish retail and office complex near Summerlin next week. IDB Group USA, part of an Israeli conglomerate, is expected to add about 199,000 square feet of retail and 68,000 square feet of offices just north of the first phase, which opened in spring 2011 at Rampart Boulevard and Alta Drive.
Southwest Gas hopes to borrow up to $250 million in bonds
Tuesday, Oct. 1, 2013
Southwest Gas Corp. wants to borrow up to $250 million, mostly to pay down existing debt.
Banks file largest one-day total of defaults for region Monday
Tuesday, Oct. 1, 2013
Just one day before a law kicked in making it easier to avoid foreclosure, banks unleashed a torrent of filings to seize homes from delinquent Las Vegas borrowers.
Regulators lift consent order for First Security Bank of Nevada
Tuesday, Oct. 1, 2013
Banking regulators have eased their scrutiny of First Security Bank of Nevada after the lender, nearing collapse a few years ago, turned itself around.
Paperwork hassles, red tape the target of new Homeowner's Bill of Rights
Tuesday, Oct. 1, 2013
Nevadans who are late on their mortgage payments could find it easier to deal with their bank and possibly avoid foreclosure under a law that takes effect today.
Southern Nevada's rural towns aren't immune from the real estate yo-yo
Monday, Sept. 30, 2013
For years, builders, investors and others flocked to Pahrump to snatch up property. A similar rush took place in other cities on the outskirts of Las Vegas: Boulder City, Mesquite and Laughlin.
Las Vegas home prices likely to keep rising into next year
Sunday, Sept. 22, 2013
Las Vegas home values continue soaring faster than the country at large and should outpace the nation for the next year. The valley’s median home value last month was $156,600, up 2.8 percent from July and up 30.6 percent from August 2012, according to a new report from Zillow.
Hughes Center office park being sold for $347 million
Friday, Sept. 20, 2013
The Hughes Center is being sold for $347 million to a Wall Street investment firm, in one of the most lucrative Las Vegas office deals in years. The Blackstone Group is expected to close the deal today for the 68-acre office park near the Strip. Crescent Real Estate Equities, an investment firm owned by Barclays Capital and Goff Capital, is selling the property.
Nordstrom Rack coming to Shops at Summerlin
Tuesday, Sept. 17, 2013
The Shops at Summerlin, a formerly stalled real estate project now slated for completion, has landed another large retailer.
Las Vegas among cheapest US cities for home rentals
Monday, Sept. 16, 2013
Still recovering from the housing bust, Las Vegas is the second-most affordable big city in the country for home renters, a new ranking says.
Gay and Lesbian Community Center chooses former Internet executive to lead nonprofit
Monday, Sept. 16, 2013
A former Internet-search executive has been hired to lead the Gay and Lesbian Community Center of Southern Nevada. The Las Vegas nonprofit said it hired Bob Elkins as its new chief executive officer. He starts work today.
Local home construction business has best month this year
Monday, Sept. 16, 2013
With sales climbing, Las Vegas’ home construction business had its best month of the year in August.
Bulldog investor won't let anything slow him down — not even a broken neck
Friday, Sept. 13, 2013
Few people can say they heard their own neck break, but Frank J. Glankler III can. He was walking to his kitchen to get water bottles when he tripped over a baby gate, slammed his head into the countertop and snapped two vertebrae. He was paralyzed instantly. He fell limp, face down onto the ground, blood pouring from his forehead.
Nevada’s foreclosure rate back to highest in U.S., report says
Wednesday, Sept. 11, 2013
One in every 359 housing units statewide had a foreclosure-related filing last month, more than double the rate in July and up 11 percent from August 2012, according to a new report from Irvine, Calif., research firm RealtyTrac.
Las Vegas ranks high for marriage-minded millionaires
Tuesday, Sept. 10, 2013
Good news, gold diggers: Las Vegas has hundreds of eligible millionaires who are ready to settle down.
Median sales price of single-family home is up 32 percent from a year ago
Tuesday, Sept. 10, 2013
Southern Nevada home prices keep steadily marching higher. But some owners, hoping to cash in on the upswing, are pricing too high and are having trouble selling.
Newton's former home, Casa de Shenandoah, can be yours — for $70 million
Tuesday, Sept. 10, 2013
Ever wanted to buy Wayne Newton’s former home, the famed Casa de Shenandoah? You now have a chance — though it’s just a bit pricey.
Bigwig real estate investors starting to pull out of Las Vegas as home prices rise
Tuesday, Sept. 10, 2013
When Las Vegas’ housing market crashed, wealthy investors pounced on the downturn and started buying cheap homes in bulk to turn into rentals. But the very recovery they sparked now is scaring them off. Prices have climbed so high that some Wall Street heavyweights are looking elsewhere for better real estate deals. For some firms, the days of buying as many houses as possible in Las Vegas are waning.
In a stagnant economy, real estate agents turn back to the basics
Monday, Sept. 9, 2013
During the fat, happy years of Las Vegas real estate, almost anyone could become a real estate agent and do well — strippers, blackjack dealers, busboys, you name it. Deals were so plentiful and easy to land, little expertise was required. Not anymore.
Top finance executive at NV Energy resigns
Tuesday, Sept. 3, 2013
After a little more than a year on the job, NV Energy’s top finance executive is resigning to join a hotel chain.
House boasts 'healthier, cleaner, quieter, cheaper, safer' living — 26 feet underground
Tuesday, Sept. 3, 2013
At a sprawling home for sale near Flamingo Road, you can golf, barbecue, swim, relax in a hot tub, dance under a starry sky and make breakfast while gazing at the mountains. All while 26 feet underground. The two-bedroom, three-bathroom house at 3970 Spencer St. might be the most peculiar in Las Vegas. It is buried 26 feet underground, underneath a typical suburban two-story house. A few miles east of the Strip, it was built in the 1970s to give people a place to safely retreat if the Soviets wiped out humanity with a nuclear missile strike.
California buyers scooping up 'cheap' Strip condos
Friday, Aug. 30, 2013
After several dismal years brought on by the recession, sales and prices at luxury high-rises on or near the Strip are rising. The market, while far from booming, is rebounding thanks to drastically lower prices and an improved economy.
See where Las Vegas' new homes are being built
Thursday, Aug. 29, 2013
You may have noticed an old, familiar sight around the Las Vegas Valley these days: hammers and hard hats. Southern Nevada homebuilders, who suffered huge job losses in recent years, have been ramping up work. Sales and prices are soaring as builders pull more permits for future projects.
About half of Las Vegas homeowners are still underwater
Wednesday, Aug. 28, 2013
Despite improvements in the housing market, Las Vegas remains well underwater. Some 48.4 percent of valley homeowners with mortgages were underwater in the quarter ending June 30.
Liberace fan buys late musician's Las Vegas mansion
Wednesday, Aug. 28, 2013
Liberace’s opulent former mansion has been sold for $500,000 to a man who is said to be a lifelong fan of the late pianist.
Travel website for college students moves headquarters to Las Vegas
Wednesday, Aug. 28, 2013
A San Francisco Bay area startup that runs a travel website geared toward college students has moved to Southern Nevada.
Boyd sells property initially slated for local casino at 85 percent loss
Tuesday, Aug. 27, 2013
During the boom years, casino mogul Bill Boyd shelled out $35 million for a stretch of North Las Vegas desert to build a locals gambling spot. With the go-go days gone, though, his company has now sold the untouched property — for an 85 percent loss.
Water park sells at half price, but developer promises surf will rise
Tuesday, Aug. 27, 2013
The past few months have been rough for the Cowabunga Bay Water Park in Henderson. First, developers said the attraction would open a year late. Now, they’ve sold the property at a 50 percent discount, less than a year after buying it.
How to ensure that your charity dollars are being spent wisely
Monday, Aug. 26, 2013
When Las Vegans open their wallets to give charity, often the first thing they wonder is: How will my money be spent? They likely want their hard-earned cash going directly to a charity’s cause, not to pay for bloated salaries or excessive overhead.
3 Las Vegas planned communities among top in nation for home sales
Thursday, Aug. 22, 2013
A trio of Las Vegas master-planned communities are again some of the top-selling nationwide this year. Leading the way locally is the 3,500-acre Mountain’s Edge development in the southwest valley.
9,000-home development planned for northwest valley
Thursday, Aug. 22, 2013
Developers of the Southern Highlands master-planned community are launching another large residential project in Las Vegas.
Southern California lender opens office in Las Vegas
Wednesday, Aug. 21, 2013
A Southern California lender and financial advisory firm has expanded to Las Vegas. First Foundation, based in Irvine, opened an office this month at 6725 Via Austi Parkway, near the southwest corner of McCarran International Airport’s airfield.
Another month, another rise in Las Vegas home values
Monday, Aug. 19, 2013
Las Vegas Valley home values kept soaring last month, far outpacing most of the country. The region’s median home value was $151,600 in July, up 31 percent from a year earlier, according to a new report from Seattle-based housing data firm Zillow.
Shareholders to vote on $5.6 billion NV Energy buyout
Monday, Aug. 19, 2013
NV Energy has scheduled a vote for stockholders to say yea or nay to famed investor Warren Buffett’s planned buyout of the Las Vegas power company.
New home sales slowing but still faring better than a year ago
Monday, Aug. 19, 2013
Southern Nevada new home sales, while faring much better than last year, continued cooling off in recent weeks as buyers faced skyrocketing prices.
Good intentions, poor execution: How to avoid the common mistakes of running a nonprofit
Monday, Aug. 19, 2013
Las Vegas nonprofits feed the poor, shelter the homeless and help the mentally disabled. But behind the scenes, some of the most well-meaning groups can be an operational mess.
Sweets in the Square: Sugar Factory opening off-Strip location
Friday, Aug. 16, 2013
Sugar Factory, the celebrity-splashed dessert chain with stores on the Strip, is opening its first Las Vegas shop outside the resort corridor. But not too far outside. Sugar Factory plans to open a 7,000-square-foot store this fall at Town Square, the 93-acre retail and office complex on Las Vegas Boulevard at Sunset Road, 2 miles south of the Strip, the company announced today.
Village Square back on track with addition of new tenants
Thursday, Aug. 15, 2013
Henderson pizzeria Settebello is one of several new businesses joining Village Square, a formerly distressed retail and office complex in west Las Vegas.
Goodwill to sell designer clothes at upscale Summerlin store
Thursday, Aug. 15, 2013
Goodwill of Southern Nevada is going upscale. The nonprofit used-clothing retailer and job-training organization is opening a store in Summerlin that will sell designer brands.
At mall kiosks, shoppers can buy hats, cellphone cases — and Strip condos
Thursday, Aug. 15, 2013
At kiosks crowding the walkways of Fashion Show mall, shoppers buy multicolored hair extensions, bedazzled cellphone cases and gaudy necklaces. They also buy real estate.
Nevada foreclosure filings continue to drop under new law
Wednesday, Aug. 14, 2013
Nevada’s foreclosure rate inched lower last month as banks scale back efforts to seize homes from delinquent borrowers.

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