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Builders Snap Up Pricier Land Parcels to Meet Thirst for New Homes

Builders Snap Up Pricier Land Parcels to Meet Thirst for New Homes

Signs point in the right direction, especially in the southwest part of the valley.

Las Vegas is seeing “extraordinary market conditions” with a 90 percent increase in residential land prices from a year ago and 37 percent increase in total sales volume, a local land expert said.

Read more at the Las Vegas Review-Journal... Read More

Central Figure, Conspirators in HOA Scheme Indicted by Federal Grand Jury

Central Figure, Conspirators in HOA Scheme Indicted by Federal Grand Jury

The scheme dates back to 2003.

Leon Benzer, the former construction company boss at the center of a long-running investigation into fraud and corruption at homeowners associations, and 10 other defendants were indicted Tuesday by a federal grand jury.

Read more at the Las Vegas Review-Journal... Read More

Workshop Designed to Assist Struggling Homeowners

Workshop Designed to Assist Struggling Homeowners

 

Newly elected State Senator Justin Jones and Assemblyman James Healey will host a workshop Thursday for homeowners trying to keep their houses.

The workshop will feature a short presentation from the Legal Aid Center and other participants about new programs available to homeowners for refinancing their mortgages and options for those facing foreclosure. 

Attendees will then have the opportunity to meet one-on-one with representatives of the Legal Aid Center, the Financial Guidance Center, and lenders including Wells Fargo, Bank of America, and Chase, to discuss options for staying in their home and reducing their mortgage. 

The workshop runs from 6 p.m. to 8 p.m. at Reedom Elementary School, 10025 Rumrill Street. 

Housing Prices Rise 30-40 Percent in Some Parts of Las Vegas

Housing Prices Rise 30-40 Percent in Some Parts of Las Vegas

Some parts of the Las Vegas valley, including Summerlin and Mountains Edge, are seeing a double-digit rise in housing prices, which as some experts concerned.

Housing prices are rising by 30 percent to 40 percent in some submarkets of Las Vegas, a pace that is not sustainable, housing analyst Dennis Smith of Home Builders Research said Wednesday.

Read more in the Las Vegas Review-Journal... Read More

Meritage Homes Introduces “Net-Zero” Homes

Meritage Homes Introduces “Net-Zero” Homes

 

Meritage Homes Corporation recently announced that its new “net-zero” homes, which can produce as much energy as they consume, are now available at all of its communities in Las Vegas.

Last month, Meritage Homes unveiled its “Extreme Green” homes in Las Vegas. These homes can save homeowners up to 50 percent on their utility bills when compared to a typical existing home. The builder’s new “net-zero” homes combine the energy-efficiency features that come standard in its “Extreme Green” homes with a revolutionary ECHO complete solar solution that provides renewable electricity, hot water, and solar air conditioning, resulting in “net-zero” homes that can produce as much renewable energy as they use.

Homebuyers who purchase a “net-zero” home not only can reduce their monthly electric bills, but also be eligible for a $9,000 federal tax credit, making the home even more affordable.

Record Number of Empty Homes in Nevada

LAS VEGAS -- Nevada's building boom over the last decade has ended in a record number of empty homes.

Newly released Census data shows nearly 168,000 empty houses in the state last year, more than double the number in 2000. In all, the number of vacant homes represents about one out of every seven houses across Nevada.

The data suggests the housing crash forced many Nevadans from their homes. More than 16 percent of Nevadans relocated to other residences within the state in 2008 alone, the highest mobility rate in the nation.

The state also had the highest foreclosure rate in the country in January, and delinquent mortgages are on the rise. The jobless rate is 14.2 percent, and the state's estimated budget gap starts at $1.5 billion.

Hardest Hit Funds Now Available to Nevada Homeowners

LAS VEGAS -- If you're one of the thousands of Clark County residents having trouble making your mortgage payment, help may be on the way.

The federal government is rolling out a plan to help people stay in their homes. The Mortgage Assistance Program will provide $38.5 million to more than 12,000 homeowners in Clark County. It is expected to help 22,000 statewide.

The Nevada Affordable Housing Assistance Corporation says it's an ideal plan for those that just need a little financial help to stay in their homes.

"It is designed to help those people that are unemployed or underemployed with their mortgage payments during their time of economic stress," said Lon DeWeese, NAHAC.

The plan will provide homeowners with as much as $500 a month in mortgage assistance. That assistance can last for as long as six months.