Eli Segall

Business reporter

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Real estate firm buys 3 Las Vegas extended-stay hotels: Thursday, Jan. 24, 2013; A San Francisco Bay area real estate firm has acquired three extended-stay hotels in Las Vegas for a combined $34.4 million.
Speakers at Preview Las Vegas outline a rosy future for the city: Thursday, Jan. 24, 2013; Las Vegas' business power brokers are gathered this morning for Preview Las Vegas, the Las Vegas Metro Chamber of Commerce’s premier networking event, at UNLV. An estimated 2,000 people are in attendance — the largest number since 2008.
Veer Towers has 100 condominium units to sell: Thursday, Jan. 24, 2013; A month after buying most of the remaining condos at CityCenter's Veer Towers, East Coast investors are putting 100 units back up for sale today. Executives with Ladder Capital and Pordes Residential Sales & Marketing plan to sell their 427 condos in phases, said Las Vegas broker Jim Navarro, who is overseeing the efforts at the Strip complex. It will take about three years to sell the entire portfolio, he estimated. Navarro and six salespeople will work out of a 30th-floor suite in the development's west tower.
Nevada Realtors seek change in 'robosigning' law to free up home inventory: Thursday, Jan. 24, 2013; A real estate lobbying group wants Nevada lawmakers to tweak the state's "robosigning" law and get more abandoned properties back up for sale.
Las Vegas Valley home prices likely to keep rising in 2013: Monday, Jan. 21, 2013; Las Vegas home values are expected to rise this year, though not as fast as in 2012. After hitting bottom last spring, home values are projected to rise 3.1 percent by the end of the year.
Report: Las Vegas housing market improved, but long way to go: Monday, Jan. 21, 2013; The Las Vegas housing market improved last year, but the road to full recovery remains a long one, a new report says.
Las Vegans rushing to get permits to carry concealed guns: Saturday, Jan. 19, 2013; More Las Vegans than normal signed up to carry a concealed firearm after the Connecticut elementary school massacre, Metro Police records show. Between Dec. 14 — the day of the shooting — and Jan. 14, Metro Police received 1,398 applications for permits to carry a concealed firearm.
In Las Vegas' real estate market, short sales have become the norm: Friday, Jan. 18, 2013; If you want to buy a house in Las Vegas, be prepared to be patient. Short sales, which can take up to a year or longer to close, have soared to record levels in the valley. They now account for almost half of all home sales and show no signs of slowing.
Plan to bisect District with two-way street clears hurdle: Thursday, Jan. 17, 2013; Owners of the District at Green Valley Ranch are one step closer to replacing its pedestrian thoroughfare with a two-way street and parking spots.
Nevada cedes top foreclosure ranking to Florida: Thursday, Jan. 17, 2013; After five straight years in the country’s dubious No. 1 spot, Nevada’s foreclosure rate finally dipped in 2012 — to second-worst.
North Las Vegas company gets $18 million contract for inflatable space room: Wednesday, Jan. 16, 2013; A North Las Vegas company, Bigelow Aerospace, has received an $18 million contract from NASA to test space-habitat technology, officials announced today.
11 more suspects indicted in ongoing HOA fraud investigation: Wednesday, Jan. 16, 2013; Federal prosecutors have charged 11 more people in Las Vegas Valley with a complex scheme to take control of local homeowners’ associations and steer business to a law firm and construction company.
Real estate companies take over management of UNLV dorms: Wednesday, Jan. 16, 2013; A consortium of private companies has taken over management of on-campus housing at UNLV. AVS Housing Group began overseeing the university’s six-building residence hall system, with 1,450 beds, on Jan. 1.
Guns are big business in Las Vegas — and a source for international mockery: Tuesday, Jan. 15, 2013; Guns and ammunition are flying off the shelves in Las Vegas. The fear of heightened regulation has sent people streaming into valley gun stores for gear and training. But the rush on guns, while good for the local economy, could hurt the valley's image.
OSHA finds 60 alleged health, safety violations at Hoover Dam: Monday, Jan. 14, 2013; Federal workplace safety regulators say they have found nearly 60 health and safety violations at Hoover Dam, painting a bleak picture of working conditions at the iconic hydroelectric power plant. The U.S. Department of Labor’s Occupational Safety and Health Administration, or OSHA, announced Monday it found 50 “serious” and eight repeat violations at the dam 30 miles southeast of Las Vegas.
Nonprofit New Vista plans major expansion of medical center: Research clinic being built; homes will cater mainly to people who are at least 50 and have mental impairments; Monday, Jan. 14, 2013; Gerald Bowie flashes a toothless smile. The 60-year-old man lost many of his teeth to disease. He has dangerously high blood pressure, his corneas have been replaced and, instead of words, he often utters just sounds.
Las Vegas has most empty office space in nation: Thursday, Jan. 10, 2013; Las Vegas office buildings filled up a bit more last year but still had the largest percentage of empty space in the country. The Las Vegas Valley had a 25.8 percent office vacancy rate in the quarter ending Dec. 31.
Hospice center set to open this spring in southwest valley: Thursday, Jan. 10, 2013; A $5 million hospice center is set to open this spring in the southwest Las Vegas Valley. Infinity Hospice Care started construction in fall on a two-building, 19,000-square-foot campus on South Jones Boulevard near the 215 Beltway.
Report: Only 18 percent of Las Vegans own their homes outright: Wednesday, Jan. 9, 2013; A city where many homeowners are deep underwater, Las Vegas also has one of the lowest rates in the country of residents who own their homes free and clear.
NV Energy customers can opt for 'refurbished' old-style meters: Wednesday, Jan. 9, 2013; Facing pressure from state officials and customers, NV Energy will let ratepayers continue using old-style meters instead of switching to new digital ones.
Cash investors make foreclosure discounts, easy deals things of the past: Wednesday, Jan. 9, 2013; Tobie Ortiz’s house doesn't seem like a hot property. When she bought the bank-owned home last year, permanent marker and puff paint marred the walls. Siding was damaged, door frames were broken, and fence slats were missing. Still, Ortiz faced stiff competition for the aging 1,000-square-foot Henderson house. She and her fiancé had to raise their offer twice, and they ended up paying almost $3,000 above the listing price.
Las Vegas home prices end 2012 up 24 percent: Tuesday, Jan. 8, 2013; Las Vegas home prices had a strong finish to 2012 as the valley posted one of the best sales years ever. The median price of Las Vegas Valley single-family homes sold in December was $149,000.
Six valley shopping centers sold in nearly $300 million deal: Friday, Jan. 4, 2013; In a nearly $300 million deal, Las Vegas developer Terri Sturm has sold six shopping centers to an Illinois real estate giant. Inland Diversified Real Estate Trust acquired a majority stake in the centers, which total 1.7 million square feet, from Sturm’s Territory Inc.
Head of mining company settles SEC fraud charges: Thursday, Jan. 3, 2013; The head of a California mining company has settled charges by the Securities and Exchange Commission that he and his firm defrauded investors in a Nevada gold-mining venture.
Bloomingdale’s store closing at Fashion Show mall: Thursday, Jan. 3, 2013; The Bloomingdale’s store at Fashion Show mall is slated for closure. Macy’s, which owns the high-end department store chain, said Thursday it is closing six stores nationwide this spring: the Bloomingdale’s in Las Vegas and five Macy’s locations in California, Texas, Hawaii, Minnesota and Massachusetts.
Posh pads: The priciest Las Vegas home sales of 2012: Tuesday, Jan. 1, 2013; The Las Vegas housing market had a strong year in 2012 with increased sales and rising prices. Here are some of the most expensive homes sold.
The top Las Vegas real estate deals of 2012: Saturday, Dec. 29, 2012; As almost anyone call tell you, Las Vegas’ real estate industry is sluggish. Still, 2012 wasn’t a total wash for real estate owners, as there were several big deals involving residential complexes and commercial buildings.
2 accused of embezzling nearly $6 million from Las Vegas developer: Wednesday, Dec. 26, 2012; A finance executive with Turnberry West Realty and an associate have been accused of embezzling almost $6 million from the Las Vegas developer. Turnberry West Controller Hope Ippoliti and associate Rocco Lazazzaro have been charged with 24 counts of wire fraud and one count of conspiracy to commit wire fraud.
Las Vegas housing market continues upward trend: Wednesday, Dec. 26, 2012; The Las Vegas housing market continued its upward trend last month.
Ex-construction superintendent discovers reinvention is key to success post-recession: Monday, Dec. 24, 2012; Jay Carrasco rode the real estate boom for years, and he rode it well. He worked for a home builder, earned a good salary and bought a $40,000 pickup truck. He moved around Florida and sold his homes for a profit. Later, he headed west to Las Vegas to open a satellite office for a flooring company. Then, like so many others in the valley, the recession hit him head on.
Henderson entrepreneurs hope to strike big with clean energy: Sunday, Dec. 23, 2012; Working from a sparsely decorated office suite in a nondescript building in Henderson, Johnny Thomas and John Francis are trying to build a clean-tech empire. They're well on their way. The men have acquired two subsidiary firms for more than $17 million combined and locked up several project deals.
Residential developer buys 208 acres in North Las Vegas: Friday, Dec. 21, 2012; A Southern California residential developer has acquired 208 acres in North Las Vegas. SunCal bought the property near North Decatur Boulevard and Elkhorn Road this week for $19.8 million, the company said Friday.
Veer Towers virtually sold out with bulk sale of 427 units: Friday, Dec. 21, 2012; A buyer linked to a New York City investment firm has paid $119 million for more than 60 percent of the condos at CityCenter’s Veer Towers. The bulk sale of 427 units, recorded Thursday in Clark County, means almost all the available inventory has been snapped up.
A practical guide to the 'fiscal cliff': What it could mean for your taxes: Wednesday, Dec. 19, 2012; As the U.S. government comes closer to falling over the “fiscal cliff” and ushering in a slew of budget cuts and tax hikes next year, some analysts predict the economy will slide back into recession. Las Vegas Valley residents should be aware of several changes that could affect such things as Medicare and stock holdings if federal lawmakers fail to reach a deal. The deadline is Dec. 31.
The University of Phoenix is consolidating its Las Vegas Valley locations: Tuesday, Dec. 18, 2012; The University of Phoenix is consolidating its Summerlin-area locations in an effort to cut costs. The for-profit education system has signed a lease to occupy part of a 3-story building next to the Nevada Cancer Institute.
Three board members at Las Vegas chemical maker stepping down: Monday, Dec. 17, 2012; Three board members at Las Vegas chemicals maker American Pacific Corp. are stepping down. The company announced Monday that Fred D. “Ted” Gibson Jr., Jane L. “Beth” Williams and Dean M. Willard plan to retire from the board of directors.
Windmills, phone booths and bric-a-brac: Front yards feature much more than grass: Friday, Dec. 14, 2012; With the holidays fast approaching, front yards across the valley are decked out with light-up Santas, fake reindeer and inflatable candy canes. But some homeowners don’t wait until Christmas to decorate. A handful of homes display colorful, quirky and unusual yards year-round.
Foreclosure rate dips, but Nevada remains one of hardest-hit states: Wednesday, Dec. 12, 2012; Nevada’s foreclosure rate improved last month yet remained one of the worst in the country. The state had the second-highest foreclosure rate in the United States in November.
Las Vegas Chamber unveils new name, tech startup initiative: Wednesday, Dec. 12, 2012; The Las Vegas Chamber of Commerce is changing its name and rolling out new efforts to help the valley’s budding startup businesses — and possibly sign them as members.
Former NLV mayor joins real estate investment firm: Wednesday, Dec. 12, 2012; Former North Las Vegas Mayor Mike Montandon has left his job as managing director of the Las Vegas office of Voit Real Estate Services to become managing partner at Insight Investment Partners, a real estate investment firm.
Life on the rodeo circuit costs a lot of bucks: Wednesday, Dec. 12, 2012; Champion steer-wrestler Luke Branquinho knows it isn’t easy being a professional cowboy. He also knows it isn’t cheap.
Las Vegas deemed one of top sellers' markets in U.S.: Tuesday, Dec. 11, 2012; With investors gobbling up cheap homes and turning them into rentals, Las Vegas has become one of the top “sellers’ markets” in the country.
Nevadans' mortgage delinquency rate is expected to drop: Tuesday, Dec. 11, 2012; Nevada homeowners will improve their mortgage delinquency rate next year as they fall slightly further behind on credit card payments, a new report says.
First phase of Boulder City solar power plant finished: Tuesday, Dec. 11, 2012; A San Diego developer has finished construction of the first phase of a solar power plant in Boulder City. The 92-megawatt phase consists of nearly 1.5 million solar panels that can power about 27,600 homes.
Southern Nevada Better Business Bureau: 'As times get tougher, people complain': Tuesday, Dec. 11, 2012; George Cartwright for over a decade has worked on business transactions such as real estate deals, casino projects and media buyouts — experience that makes him ideally suited for one particular job: president and CEO of the Better Business Bureau of Southern Nevada.
Hydrofracking may lead to oil discovery in Nevada but comes with environmental concerns: Friday, Dec. 7, 2012; Buried beneath Nevada's desert are rich reserves of gold, copper and other natural resources. But when it comes to oil, the state is a lightweight.
Country bar-restaurant Gilley's expects $1 million in revenue this month, thanks to NFR: Friday, Dec. 7, 2012; When the 2012 Wrangler National Finals Rodeo gallops into Las Vegas this week, thousands of cowboys and cowgirls will stream into town to watch. They’ll bring their hats, boots and spurs — and to the delight of local businesses, their wallets. Bars and restaurants along the Strip will try to cash in on the crowd with drink specials, product giveaways and other deals. Few are as well-suited to draw them in as Gilley’s Las Vegas.
L.A. officially set to buy solar power from plants near Las Vegas: Thursday, Dec. 6, 2012; Los Angeles Mayor Antonio Villaraigosa finalized deals to buy power from two solar plants slated to be built near Las Vegas.
Shrinking volume, rising prices for foreclosed homes in Nevada: Wednesday, Dec. 5, 2012; Prices for foreclosed homes in Nevada jumped this year as sales volume plummeted, underscoring the state's high demand and slim inventory.
California tech exec buys two Las Vegas apartment complexes for $90 million: Wednesday, Dec. 5, 2012; A company linked to a Silicon Valley software firm has pushed into the Las Vegas real estate market, spending more than $90 million on two recent deals. WTI Inc. acquired 163 units last month at the Esplanade residential complex off South Durango Drive near the 215 Beltway. It also snapped up the 840-unit Renaissance Villas apartment complex on West Tropicana Avenue near South Decatur Boulevard in late October.