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News

2/18/2020 John Bullis: First in time, first in right rule—Nevada Appeal

Down in Las Vegas, an owner of real estate got a mortgage to buy the property. The owner failed to pay the monthly Homeowner Association dues. The HOA filed a lien on the property and later foreclosed.
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1/17/2020 An orphaned teen is being forced out of his grandparents' senior community because he's too young—FOX 5 KVVU-TV News

A 15-year-old orphan is being forced from the Arizona senior community where he lives with his grandparents after the homeowner's association said it could face legal issues if he stayed.
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1/13/2020 Homeowner beats HOA in fight that went to Nevada Supreme Court—KTNV Las Vegas

Alongside the American flag and patriotic bunting, a banner unfurls across the roof-line of Jonathan Friedrich's home.
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1/10/2020 Tower 16 Capital Partners Sells Altura on Tropicana Apartments in Las Vegas, Nevada—Multifamily Biz

San Diego-based Tower 16 Capital Partners has successfully sold Altura on Tropicana, a 512-unit multifamily project in Las Vegas, after an 18 month hold period. Tower 16 had originally purchased the property for $50 million in June 2018 and invested over $4.0 million in capital improvements during their hold period.
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12/17/2019 Las Vegas man paid HOA dues for decade, wasn’t member of association—Las Vegas Review-Journal

Jonathan Friedrich lives in the well-manicured Rancho Bel Air neighborhood west of downtown Las Vegas. His house is the Americana archetype with pink flamingos and a decorative water fountain in the front yard. Two patriotic buntings flank a hanging American flag obscuring the view of the front door. But there is something far more conspicuous to visitors and passersby: A roughly 30-foot-long sign on his front roof that reads, “Rancho Bel Air Found Guilty Of Fraud.”
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12/13/2019 Homeowner concerned about SWAT team in community—Las Vegas Review-Journal

Earlier this year, the police SWAT team visited a house in my master-planned community. The tank and flash bangs were disconcerting to me and other residents in our relatively quiet neighborhood, and I hoped this activity would place the city and my homeowners association on high alert for future questionable activity in our relatively respectable area.
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12/3/2019 Vegas homeownership rate below the national average—Las Vegas Review-Journal

Las Vegas has yet to fully recover from the housing downturn a decade ago, and its homeownership rate remains well below the national average with the exception of Hispanics and millennials.
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12/3/2019 North Las Vegas paves way for innovative housing development—Stock Daily Dish

The North Las Vegas City Council took an early step Wednesday toward bringing a large housing development to a vacant lot on the city’s northern edge.
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12/3/2019 Downtown Henderson targeted for multi-million dollar housing development—Las Vegas Review-Journal

A downtown Henderson man wants to build a multimillion-dollar housing development in a neighborhood of World War II-era homes.
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12/3/2019 Developing Expertise—Multihousing Pro

Multifamily professionals who are interested in keeping up with the latest trends in the industry are undoubtedly familiar with NAA’s Apartmentalize and NMHC’s OPTECH shows. However, they may not be aware of another event that is worthy of their attention, particularly if they work in the development side of the industry. That event is NAHB’s International Builders’ Show (IBS).
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11/12/2019 US mortgage rates fall this week from 3-month high—Las Vegas Sun

Mortgage rates slipped this week from the highest level since July and remain at historically low levels that are helping would-be purchasers to buy homes.
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11/12/2019 Reno’s economic surge could last 10-20 years, gaming analyst says—Stock Daily Dish

The city of Reno is poised for a long-term economic upswing, according to an analyst from Union Gaming Research of Las Vegas.
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11/12/2019 Greater Las Vegas Home Prices Dip in October, First Time in 8 Years—World Property Journal

According to a new report by the Greater Las Vegas Association of Realtors, home prices in Southern Nevada stalled to start fall, with fewer homes selling so far this year compared to last year.
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11/7/2019 October numbers show little change in Las Vegas housing market—Las Vegas Sun

The price for a home in Southern Nevada didn’t move much in October, according to a report released by the Greater Las Vegas Association of Realtors today.
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11/7/2019 ConAm Group Acquires Las Vegas Apartments—Multi-Housing News

The ConAm Group has purchased a 292-unit apartment community in Henderson, Nev., for $54.5 million. South Valley Ranch is a 22-year-old property consisting of 37 two-story buildings spread across a 17.4-acre parcel.
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11/7/2019 How the Top Emerging Markets on the West Coast Stack Up—Globe St.

Investors are targeting Las Vegas, Salt Lake City and Phoenix, but how do these growing markets compare? All three markets are positioned for long-term growth, but they aren’t seeing the same growth fundamentals. Job growth and population growth are factors across the three markets, but investors are paying close attention to the differences.
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11/6/2019 Futuristic Las Vegas mini-city finds home, while future of CEO remains uncertain—KVVU-TV Las Vegas

A first-of-its-kind smart city planned for Las Vegas now has a location. Developers of the "smart city" Bleutech Park will bring the idea to life at corner of Las Vegas Boulevard and Cactus Avenue. The plans are moving forward despite an uncertain future for the company’s CEO, Janet Legrand.
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11/4/2019 Las Vegas’ sharp drop in home price growth could spur more sales—Las Vegas Review-Journal

A decade ago, Las Vegas’ housing market was in a nosedive. Lenders were foreclosing on homes across the valley, builders’ sales were evaporating, and house values were plunging. The market is on much stronger footing today but has slowed considerably this year, after a heated run in 2018 sparked affordability concerns.
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11/4/2019 Nevada Housing Coalition to Host Brunch and Learn Program on Thursday, November 7 in Reno—Nevada Business

What’s on deck for affordable housing in northern Nevada? Join the Nevada Housing Coalition as we discuss federal and state policies that would impact the ability to produce more affordable housing opportunities for Nevadans.
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10/25/2019 Las Vegas among cities with highest homeless rate, study finds—KVVU-TV Las Vegas

Las Vegas is among the top ten cities in the country with the highest homeless rates, according to a new study.
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