http://www.stuccoed.com/ Las Vegas Real Estate Blog en Copyright 2008 Tue, 29 Apr 2008 11:37:01 -0800 http://www.sixapart.com/movabletype/ http://blogs.law.harvard.edu/tech/rss Stable Development, LLC has pioneered a model for business owners to build equity in commercial property. Instead of paying rent to a landlord, clients of Stable Development’s Shared Equity Program receive ownership in the building they occupy, essentially becoming their own landlord. And, the program doesn’t require these new owners to make down payments or guarantee loans. To expand the development of the Shared Equity Program, Stable Development has added Michael Young and Ryan Gould to its team. Young and Gould will manage and raise awareness of the program throughout the Las Vegas Valley and nationwide. The latest example of Stable Development’s Shared Equity Program is Corporate Center at the Curve, next to the I-215 beltway at Sunset Road. A few dozen business owners have signed 10-year occupancy agreements in exchange for a portion of ownership in one of the eight Corporate Center at the Curve buildings. Stable Development partners with the tenant/owners to create custom office space with generous tenant improvement allowances. The developer’s unique Shared Equity Program offers the benefits of real estate ownership to occupants of Stable Development properties. These benefits include: income from rent payments, profits from the sale of the buildings and tax benefits. Most importantly, Stable Development provides the capital and guarantees all loans. http://www.stuccoed.com/realestate/stable_development_adds_experts_for_its_shared_equ-11091.html http://www.stuccoed.com/realestate/stable_development_adds_experts_for_its_shared_equ-11091.html Tue, 29 Apr 2008 11:37:01 -0800 Abandoned homes were once a rare sight, but are becoming increasingly common as the number of foreclosures continues to rise across the country. And while an abandoned property is a sad enough sight, the growing number of vacated homes is starting to have detrimental effects on neighborhoods. The NPR recently reported that when owners are forced into foreclosure, they sometimes trash their homes before repossession. Cabinets, windows, AC units and other fixtures are sold off, giving homes the look of disrepair, which hurts neighborhoods. http://www.stuccoed.com/realestate/news/neighborhoods_marred_by_rising_number_of_abandoned-11090.html http://www.stuccoed.com/realestate/news/neighborhoods_marred_by_rising_number_of_abandoned-11090.html News Mon, 12 Nov 2007 11:25:08 -0800 Review Journal reported today that existing home sales are down 50 percent, while new home sales were down 52 percent. Median prices have dropped 8.9 percent to $263,075 and 3.3 percent to $312,639 respectively. Although none of this is really anything new, it looks like the sales and discounts being offered by builders are beginning to stimulate sales a bit.]]> http://www.stuccoed.com/realestate/news/las_vegas_builders_try_to_stimulate_home_sales_wit-11089.html http://www.stuccoed.com/realestate/news/las_vegas_builders_try_to_stimulate_home_sales_wit-11089.html News Wed, 24 Oct 2007 14:56:11 -0800 Review Journal. I’m as tired of the loathsome news as the next man, but was pleasantly surprised that the article calls for us all to simply accept it. That’s good advice if I’ve ever heard it.]]> http://www.stuccoed.com/realestate/news/the_good_part_about_the_expected_20_percent_drop_i-11088.html http://www.stuccoed.com/realestate/news/the_good_part_about_the_expected_20_percent_drop_i-11088.html News Wed, 10 Oct 2007 10:21:30 -0800 Las Vegas Sun. According to the article, analysts are expecting prices to drop another 5.6 percent by May and some are predicting 15 to 20 percent drops by 2010. We wrote a previous post about the predicted drastic price drop here.]]> http://www.stuccoed.com/realestate/news/las_vegas_sun_reports_dismal_housing_marketing_ast-11087.html http://www.stuccoed.com/realestate/news/las_vegas_sun_reports_dismal_housing_marketing_ast-11087.html News Mon, 08 Oct 2007 12:29:05 -0800 Nonresidential and nonbuilding construction has been on the rise in the first eight months of 2007, increasing five percent over last year, according to the September edition of the McGraw-Hill Construction & Housing Review. The credit crunch plaguing residential sectors hasn’t effected nonresidential construction nearly as severely. Nonresidential building and public works construction are expected to grow at a moderate pace this year. http://www.stuccoed.com/realestate/news/while_residential_construction_continues_to_drop_n-11086.html http://www.stuccoed.com/realestate/news/while_residential_construction_continues_to_drop_n-11086.html News Fri, 05 Oct 2007 10:34:24 -0800 KVBC reported. He’s working with the lenders to solve the foreclosure problem and help keep people from losing their homes. According to the report, the governor hasn’t set a time frame for his solutions, but warned that the problem wouldn’t be solved overnight.]]> http://www.stuccoed.com/realestate/news/governor_gibbons_meets_with_lenders_in_las_vegas_t-11085.html http://www.stuccoed.com/realestate/news/governor_gibbons_meets_with_lenders_in_las_vegas_t-11085.html News Fri, 05 Oct 2007 09:15:56 -0800 According to the September edition of the McGraw-Hill Constructions & Housing Review, residential housing starts is down 6 percent, that’s $240 billion at an annual rate, with single family housing down an additional 7 percent. It’s a buyers market with the inventory rising and home sales dropping. The increasing rate of foreclosures is only making the problem worse. Until the excesses are worked off, don’t expect construction starts to go up for at least a year. http://www.stuccoed.com/realestate/news/mcgrawhill_review_residential_construction_starts-11084.html http://www.stuccoed.com/realestate/news/mcgrawhill_review_residential_construction_starts-11084.html News Thu, 04 Oct 2007 13:08:13 -0800 Review Journal, since mid-2006, home prices have slipped further than they did during the 1990-91 recession. Professional traders expect a drop of 10 percent more next year. One West Coast university economist predicted a home price drop of 20 percent in Nevada in the next few years.]]> http://www.stuccoed.com/realestate/news/housing_market_still_dropping_nevada_home_values_e-11083.html http://www.stuccoed.com/realestate/news/housing_market_still_dropping_nevada_home_values_e-11083.html News Thu, 27 Sep 2007 12:01:36 -0800 Bloomberg.com indicates that housing prices in Las Vegas could drop 5.6 percent by next May. According to the article, the Las Vegas market may be an indicator for what happens to property values nationwide in 2008. Patrick Newport, chief U.S. economist at Lexington, Massachusetts-based Global Insight Inc. says that despite the city’s economy, he expects the housing slump in Las Vegas to last until 2010.]]> http://www.stuccoed.com/realestate/news/las_vegas_housing_market_may_indicate_national_tre-11082.html http://www.stuccoed.com/realestate/news/las_vegas_housing_market_may_indicate_national_tre-11082.html News Wed, 26 Sep 2007 12:31:34 -0800 NuWire Investor recently reported that Las Vegas is the number one spot on its list of the top five overbuilt cities. According to the article, the home inventory reached 23,642 in June, 40 percent of which were vacant. The article also says that condos and townhouses have been overbuilt and are spending an average 335 days on the market. Average single-family homes were spending about 115 days on the market. http://www.stuccoed.com/realestate/news/las_vegas_tops_list_of_overbuilt_cities-11081.html http://www.stuccoed.com/realestate/news/las_vegas_tops_list_of_overbuilt_cities-11081.html News Mon, 24 Sep 2007 14:02:57 -0800 Work has begun on another mid-rise condo project in southwestern Las Vegas. The Mercer will feature 113 units and is located on Tropicana and Grand Canyon Parkway. Unlike other mid-rise and high-rise projects that have been delayed by financial difficulties, The Mercer is fully financed by First American Bank in Chicago. The $50 million project has begun construction. http://www.stuccoed.com/realestate/news/construction_started_on_midrise_luxury_condo_proje-11080.html http://www.stuccoed.com/realestate/news/construction_started_on_midrise_luxury_condo_proje-11080.html News Mon, 24 Sep 2007 11:45:51 -0800 Although Las Vegas had the lowest number of foreclosures this year in August, Nevada is still leading the country in the number of foreclosures per household. Congress has passed legislation to help ease the crises, but some people claim that bailing out delinquent borrowers could do more harm than good. http://www.stuccoed.com/realestate/news/legislation_to_help_lenders_met_with_praise_and_cr-11079.html http://www.stuccoed.com/realestate/news/legislation_to_help_lenders_met_with_praise_and_cr-11079.html News Thu, 20 Sep 2007 12:33:36 -0800 The Review Journal reported today that while local home sales are still down, condos are pushing the median home price up. Luxury high-rise condos have raised the median home price up 4 percent to $338,560. Meanwhile, the number of new home sales has dropped to 1,970, a 39.9 percent drop from the same month last year. http://www.stuccoed.com/realestate/news/las_vegas_median_home_price_increases_new_home_sal-11078.html http://www.stuccoed.com/realestate/news/las_vegas_median_home_price_increases_new_home_sal-11078.html News Thu, 20 Sep 2007 12:12:02 -0800 A six-building condominium/office project in northwest Las Vegas was bitterly opposed by residents who were concerned it would bring too many people and too much traffic to the suburban area. The project included two 12-story office towers, two 12-story condominium buildings, a parking garage and retail space on the southwest corner of Deer Springs Way and Durango Drive. http://www.stuccoed.com/realestate/high_rise_condos/highrise_proposal_derailed_by_neighbors_protest-11077.html http://www.stuccoed.com/realestate/high_rise_condos/highrise_proposal_derailed_by_neighbors_protest-11077.html High Rise Condos Mon, 17 Sep 2007 13:12:48 -0800