Let's start with the good news. The numbers are in for March and what we see is that the prices in Southern Nevada are holding up rather well. The median new home price is down 3.5% from March of last year, but for the first quarter it's up 4%, to $324,035. That's for a new house. In the resale sector the median home price is 1.8% lower from a year ago, while the first quarter slide is only 0.3%, to 280,667. This is what the latest stats tell us. Some magazines have been predicting all sorts of bubble burstings here and looks like that's not in the cards. So far only a tad of air is coming out. Now to the bad news. New home closings took a deep dive, to the tune of 43%, in the first quarter, amounting only in 5,264 transactions. Existing housing fared a little better, however, dropping ... 04/20/2007

The overall message: The real estate market hasn't bust - it is in a healthy, normal real estate cycle. The cycle will help buyers and we likely won't be seeing a meltdown.It's true that sales are down, but that happens. The good news is that prices haven't plummeted as many suggested. They have remained steady, flat. The Las Vegas market is resilient. There are many positive factors driving the city's economy and residents are able to take advantage of homes that have kept their value.Inspite of a flat market and a large, growing inventory Murphy's outlook is positive, '"...we may be at or near the bottom," he said. "Even with the repos, we have month-over-month sales gains, the highest number of new home permits since August and prices are still relatively stable."'He reported that so... 04/20/2007

MGM-Mirage is buying yet another property on the Las Vegas Strip. The property belongs to the owners of Sahara. It was the location of the first hotel on the Strip: El Rancho Vegas. The casino hotel burned down in 1960 and has been vacant since that time. MGM-Mirage is reportedly paying $444 million for the Las Vegas real estate. It is anticipated that a mega resort similar to City Center will be developed. 04/20/2007

A quick reminder for Southern Nevada Rainers and residents that the annual Earth Day celebration will be held this Saturday, April 21, in Summerlin. It's free, of course there'll be plenty of environmental stuff on display, things to do for kids, food and beverage for purchase and so on. More info at Sinifox Vegas. 04/19/2007

The air hung tense in anticipation among the participants at the recent awards ceremony in Washington. A lot was at stake. For homebuilders and firms in related industries an Energy Star label today means that you're  cutting edge in your field. It's good for the business, your bottom line, and good for the entire planet. Gradually more companies are waking up and actively seeking to become "tree huggers".The awards were presented by the EPA and the Department of Energy to businesses and organizations for their exceptional accomplishments in lowering greenhouse gas emissions through energy efficiency. In the category of Sustained Excellence, Astoria Homes, a locally owned builder, hauled in the top prize. Since 2000 all its homes have been built to Energy Star specs. Another winner in t... 04/19/2007

MGM Mirage announced today that they purchased the property that was slated for the Maxim project.  They also purchased the large empty lot across from the Sahara hotel at Sahara and Las Vegas Blvd.  The total acreage for this acquisition that includes the exising Circus Circus property excedes the acreage MGM Mirage is using to build CityCenter.  What their future plans are for this new assembled acreage won't be announced for awhile.What this means for those seeking to buy on the red hot North Strip is time is of the essence.  Beautiful guard gated Sky Las Vegas just opened and is the first luxury high rise residential condo with a Strip address in the prime Strip area.  The new MGM Mirage acreage now surrounds Sky which just adds more reason to buy in Sky now.Contact us at 702-456-70... 04/19/2007

Welcome Home to Desert Shores Community Located in Northwest Las Vegas!View Map (Satellite Hybrid) Desert Shores is a master planned community developed in 1988 by RA Builders.There are 3,068 Homes with choices ranging from Condominiums to Lake Front Luxury.Ducks, geese and swans are prolific residents in the three lakes that are in the middle of the community!Community Amenities Include: Three lakes with public paddle boat launching areas for the residents, a beach club, picnic areas, volleyball, basketball, playground, clubhouse and fishing. It is nice to walk the tree lined streets and the lush atmosphere make you forget you are in the desert!Click here for a virtual tour of the area! If you would like some pricing information, view current listings, rentals or sell a home in Desert ... 04/19/2007

This appears to be part of the subprime turmoil. Federal investigators have recently launched a criminal probe into the mortgage lending methods and other financial transactions of Beazer Homes. Several agencies are involved, among them HUD and IRS. They are emphasizing, though, that an investigation alone doesn't necessarily mean there has been any unlawful activity.As we are aware, many large homebuilders nowadays have their own mortgage divisions. The idea is to offer the buyer a one-stop shop, a great concept from the business point of view. And perfectly within the rules. Now that the home loan industry is suffering from a moderate to serious turbulence, regulators are beginning to look closer into the builder-lender affiliation. That, and I'm sure they are peeking under several ot... 04/18/2007

We are proud to release the new web site design for Great Las Vegas Property. It is located at www.greatlasvegasproperty.com. The site is designed to help home buyers and home sellers find homes and connect with a great team of Las Vegas real estate agents. Its features and content will be enhanced over the next few months to fill the needs of home buyers and sellers of Las Vegas real estate. 04/18/2007

Kyle Canyon is located in northwest Las Vegas off the I-95. It is the outskirts of Las Vegas and is just south of the turn off towards the Kyle Canyon.The land for the community was recently auctioned off from the BLM. It is a large wide open space awaiting development.Kyle Canyon Homes and Real EstateKyle Canyon real estate will be developed by several home builders. It will have some 15,000 homes and will consist of multiple types of Las Vegas housing. Homes, including apartments, condos, and single family, will fill neighborhoods strategically designed for comfort and access...explore other Las Vegas communities... 04/18/2007

The Los Prados community is located between Jones and Decatur just south of I-215. Its location gives its residents access to huge shopping centers as well as the large interstates that traverse Las Vegas. It is guard gated and has access to great amenities including tennis, golf, and swimming.Its homes are strategically placed around a lush golf course. Many properties have great views of the fairways.Los Prados Homes and Real EstateLos Prados real estate can range in pricing from the mid $200's to the $600's. Home buyers can choose from many house styles and sizes. Los Prados homes are and affordable opportunity for comfortable living in Las Vegas real estate...explore other Las Vegas communities... 04/18/2007

El Capitan Ranch is located in northwest Las Vegas just off of El Capitan Way and north of Cheyenne. It is located in a more rural Las Vegas area and it is set out of the hustle and bustle of the city allowing for quiet and calm. Strategic roads give access to banking, shopping, dining, and ease in travel. Multiple business parks and malls are located within a few minute's drive. It is near parks, churches, volleyball courts, swimming pools, basketball courts, and skate parks.Classy entryways into the community set the tone as residents enjoy its layout. It is filled with beautiful homes. El Capitan Ranch Homes and Real EstateEl Capitan Ranch homes consist of a wide range of Las Vegas home choices. Homes with 2 bedrooms and 2 bathrooms to homes with 6 bedrooms and 5 bathrooms also range... 04/18/2007

 SHORT SALES ARE NOT ORDINARY TRANSACTIONS: Have you recently turned down a listing because the owner did not have enough equity? Do you have clients who are no longer in a financial position to make their mortgage payments?Do you have clients whose home is worth less than what is owed?Do you have listings that won't sell because there is not enough equity to reduce the price even lower? If you answered yes to any of those questions a SHORT SALE may be your client's best option. We will do the dirty work so that you don't have to: * We are trained by some of the most recognized experts in loss mitigation.* We specialize in negotiating discounts with banks.* We have an entire arsenal of proven negotiation strategies that work!* Our proven PVRM marketing strategy procures buyers quickly.*... 04/17/2007

Sun City communities are unique options for active seniors. Las Vegas hosts multiple Sun City communities providing seniors with great options. Many of the residents are retired. Many love golf, social events, quiet living, great views, etc. Sun City offers great amenities to the right people.Sun City is age restricted. The home owners association for each community has its guidelines. For the most part, if at least one resident in the household is at least 55 years old or older the household qualifies. Typically no residents underage (not adult age) may reside in the community. These restrictions allow for a quiet, calm, mature pace of life. Residents can retire and take a breath.Del Webb develops the Sun City developments. Del Webb has been recognized for its quality retirement commun... 04/17/2007

Looks like it. That's what Fannie Mae and Freddie Mac say they'll do. Help. These two large government-sponsored buyers of mortgage loans in the secondary market made that promise today in Congress. They are the ones that can be charmed a little easier than private financial institutions to make a difference. So, to start with them makes sense.Freddie Mac is "working on a major effort to develop more consumer-friendly subprime products that will provide stable financing alternatives going froward". New programs will consist of 30-year and maybe 40-year fixed-rate loans and also ARMs with longer fixed-rate periods. Fannie Mae is moving pretty much along the same path, stretching at least one subprime mortgage up to 40 years. The new broad program they're working on is called "HomeStay". ... 04/17/2007

Centennial Hills community is located in the northwest of Las Vegas. It is just off I-215 and the 95. Though it is on the outer rim of the city residents still have great access to large shopping complexes and business centers. Several neighborhoods with properties ranging from affordable to luxury are well designed.Several home builders are participating in the community's development. They are catering to buyers looking for large homes as well as those with needs for a smaller residence.Amenities include parks featuring many activities including volleyball, basketball, etc. are in the vicinity. Recreational facilities are also available. Schools, fine dining, and a quick escape from the city life are all within reach.Centennial Hills Homes and Real EstateCentennial Hills homes and rea... 04/17/2007

The Alta Mira community is located in the north end of Las Vegas. Shopping Centers, golf courses, and other resources are located nearby. Access to many parts of town are provided by main Las Vegas streets.Alta Mira Homes and Real EstateHomes in the Alta Mira community were built in the mid 90's. They range in price from the mid $200's to $500. Square footage ranges from 1500 to over 3000. Most houses are 3 or 4 bedroom with 2 or 3 bathrooms.Many Alta Mira properties feature mature foliage and a stylish neighborhoods. They are a great option in Las Vegas real estate. 04/17/2007

Spring Valley is located in the heart of southwestern Las Vegas. Oddly enough, it is not a Las Vegas community. The city does not have its own government and is not governed by the City of Las Vegas so it is unincorporated and belongs Clark County.At about 35 acres Spring Valley is named because of the Spring Mountains located west of the valley. Many of its residents likely don't know that they are not technically "Las Vegas" residents. Nearly 120,000 people live there and find great shopping, schools, neighborhoods, tennis and other recreation, golf, churches, and people.Houses in this area of south west Las Vegas typically hold a great value. It is mid way between Summerlin and The La Vegas Strip. The community is located near many resources including access to major streets and busi... 04/17/2007

Here's another intriguing twist to the subprime saga. They just keep on coming, don't they. A silent second can be executed several different ways, but it always means that the first note holder is kept in the dark about it. That's why the term silent second. The latest trend is that soon after a borrower settles into his house with a sparkling-new mortgage in his hand, he'd go to a lender to pull out as much of the equity as he could. Do a second mortgage or line of credit without the original lender's knowledge. It has to be done now while there still is equity. Tomorrow it could be gone in a soft market. It has happened often enough that some large banks are unaware of homeowners who have come back to them for a second loan because first mortgages and equity lines are issued by diffe... 04/17/2007

Independence Astoria Patio Homes are snuggled in the southwest Las Vegas valley foothills. They feature great peek-a-boo views of the mountains to the west and to the north!View Map (Satellite Hybrid)Schools (4/16/2007) Zoned are: Sierra Vista High School, Fertitta Middle School (soon to be Faiss) & Wayne Tenaka Elementary school. With extreme growth in the valley schools change quickly and for no rhyme or reason so it is always best to check online for current zoning with Clark County School District.Amenities include Pools & Playgrounds There are exactly 394 homes in this neighborhood ranging from 1246-1421 square feet. The builder was Astoria and these homes were built between 2003-2006.For More Information and to view the Virtual Tour w/ Floorplans go to www.IndependenceAstoria.com.... 04/16/2007