LAS VEGAS REAL ESTATE | HOMES FOR SALE IN LAS VEGAS | LAS VEGAS NEW HOME

Foreclosures in Las Vegas have affected home sale prices dramatically.  Sale prices have fallen to levels only seen eight years ago due to two thirds of homes due to foreclosures.

Nearly the past 12 months rising home sales due to a multiple listing service median existing home price of $134,900 in March. The median price same month in 2008 has fallen 41.3 percent.

Record closings of totaled 3,626 homes or an increase of 85.6 percent.  The median price of bank owned home closings during March was even lower at $127,000.

Continue reading Foreclosures In Las Vegas Have Affected Home Sale Prices Dramatically

Troubled Mira Villa condos in Summerlin expect to start sales in June.  Three banking institutions have given commitment to complete condominium construction.

Real estate lenders will financially back the project after careful analysis because of it’s offering in the current local real estate landscape.  Prior luxury condo purchasers will have the ability to renew their contracts before the sale of Mira Villa will be open to the general public.

Continue reading Troubled Mira Villa Condos In Summerlin Expect To Start Sales In June

Las Vegas gaming company could be forced to file bankruptcy this week due to the missed $4 million interest payment due yesterday.  Riviera Las Vegas has no plans on paying Wachovia Bank their financial obligation.

This would be the third Las Vegas gaming company forced to file this year.  Riviera Holdings Corp. will face default is they don’t make their payment on the $245 million credit line held by their lender.

Continue reading Las Vegas Gaming Company Could Be Forced To File Bankruptcy This Week

MGM Mirage financial situation is not affecting MGM Mirage Macau according to managing director of MGM Grand, Pansy Ho. Project CityCenter made a $220 million payment.

Ho states they are keeping a close watch on the economic downtown in America and it should not be a big roadblock currently.

Continue reading MGM Mirage Volatile Financial Situation Not Affecting MGM Mirage Macau

Dragon City Las Vegas 22 acre site scheduled for real estate auction on May 16 at MGM Grand. Last January developer Andrew Lai filed Chapter 11 bankruptcy and defaulted on a Dragon City land loan.

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The Asian themed hotel casino near Chinatown is located on Spring Mountain Road.  The real estate auction will take place during the International Council of Shopping Center Convention at MGM Grand.

Continue reading Dragon City Las Vegas 22 Acre Site Scheduled For Real Estate Auction

Legal action in $9.1 billion real estate Project CityCenter Las Vegas brought on by joint venture partner Dubai World against real estate developer MGM Mirage.  Dubai World says their partner is mismanaging the resort located on the Las Vegas Strip.  The project has been riddled with financial difficulties.

Continue reading Legal Action In $9.1 Billion Real Estate Project CityCenter Las Vegas