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Sale of Land for Senior Housing Proposed

Sale of Land for Senior Housing Proposed

Low-income senior housing is the targeted focus of a parcel of land proposed for sale by the federal government in the southwest part of the valley.

The Bureau of Land Management (BLM) is starting a 45-day public comment period on a proposal to sell five acres of public land to the State of Nevada Housing Division for affordable housing.

The parcel is located near the intersection of Agate Avenue and Kimo Street within the Las Vegas Boulevard and Interstate 15 corridor south of Blue Diamond Road. 

The parcel is proposed for sale for an affordable housing community development for seniors and seniors with special needs whose income is less than 60 percent of the area median income and who are age 55 and above.

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. 

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.

Report: 1 in 4 Nevadans Walked Away From Homes

LAS VEGAS -- A report released by a realtors association shows that nearly one in four people who lost their homes to foreclosure admitted to walking away from the home.

The Nevada Association of Realtors, who released the report, also found that most struggling Nevada homeowners were not aware of federal and non-profit programs designed to help them. The report shows that 61 percent of those surveyed who nearly lost their homes to foreclosure had never heard of the Home Affordable Foreclosure Alternative program and only three percent said they had used the Nevada Foreclosure Mediation Program.

Of the 23 percent who admitted to walking away from their homes, most said they were advised by trusted confidants that a strategic default was their best option.

Local Home Sales Up in December

LAS VEGAS -- Although home prices decreased from November to December, more homes were sold, according the Greater Association of Realtors.

Their latest report shows the median price of a southern Nevada home is down 3 percent from one year ago. "At least this slight decrease is better than the 33 percent and 22 percent declines we saw in 2008 and 2009," said Paul Bell, GLVAR president.

In December, 25 percent of all homes sold in southern Nevada were short sales and about half of all sales involved bank-owned homes.

The year 2010 was the third best sales year on record with 43,877 homes being sold. The best year ever was 2004 during the boom when nearly 72,000 homes were sold.