GLVAR Reports Local Home Prices Bounce Back, While Housing Sales and Supply Slip

Statistics released by the GLVAR show the median price of homes sold last month in Southern Nevada bounced back above the $200,000 mark

LAS VEGAS – Statistics released by the Greater Las Vegas Association of REALTORS (GLVAR) show the median price of homes sold last month in Southern Nevada bounced back above the $200,000 mark as fewer homes were sold and listed for sale. GLVAR reported the median price of homes sold through its Multiple Listing Service during November was $202,000. That’s up… [More…]

Nevada Association of Realtors Announces LeadershipNVAR Graduates

NVAR its LeadershipNVAR 2014 program and were recognized during a graduation ceremony.

RENO – The Nevada Association of REALTORS (NVAR) announced that 13 of its members completed its LeadershipNVAR 2014 program and were recognized during a graduation ceremony held Dec. 5 at the Peppermill Resort in Reno. This marks the program’s 15th annual graduating class, according to 2014 NVAR President Kolleen Kelley. The comprehensive program is designed to… [More…]

NVAR names Kolleen Kelley its Realtor of the Year

NVAR honored its leading members at an awards event in Reno on Friday, naming longtime industry leader Kolleen Kelley its 2014 Nevada REALTOR of the Year.

RENO – The Nevada Association of REALTORS (NVAR) honored its leading members at an awards event in Reno on Friday, naming longtime industry leader Kolleen Kelley its 2014 Nevada REALTOR of the Year and recognizing others from around the state for their continued service to their association, their profession and their communities. Kelley, a longtime Las Vegas REALTOR, served as NVAR’s 2014 president after being president-elect… [More…]

Nevada REALTORS Announce 2015 Board, Led by 2015 NVAR President Kevin Sigstad

The Nevada Association of REALTORS (NVAR) announced its new officers for 2015.

RENO – The Nevada Association of REALTORS (NVAR) announced its new officers for 2015, led by incoming president and longtime Nevada REALTOR Kevin Sigstad, of RE/MAX Premier Properties in Reno. Sigstad is a former president of the Reno-Sparks Association of REALTORS (RSAR) and served as NVAR’s president-elect in 2014. During its annual installation event to be held Dec. 5 at the Nevada Museum of Art… [More…]

Red Report: December 2014

Read the Nevada Real Estate & Development Report: December 2014 - Commercial real estate and development - projects, sales, and leases.

E Project, Multi-Family ADDRESS 5625 S. Hollywood Blvd., 89142 DETAILS The Tempo Senior Apartments recently opened. Ovation Development Corporation and Accessible Space, Inc. (ASI) co-developed the 101-unit affordable senior rental development located in Sunrise Manor. The Mediterranean-style residences feature 60 one-bedroom units. The community space includes high efficiency heating and cooling equipment, offsetting over 10… [More…]

Office Summary: Third Quarter 2014

Southern Nevada The Las Vegas office market vacancy rate fell to 24.8 percent in the third quarter of 2014. Compared to the prior quarter, vacancies fell 0.4 percentage points. Meanwhile, the vacancy rate is down 0.7 percentage points compared to a year ago. While the office market vacancy rate remains significantly higher than its industrial… [More…]

Nevada Real Estate & Development Report: November 2014

Read the Nevada Real Estate & Development Report: November 2014 - Commercial real estate and development - projects, sales, and leases.

N Sale, Office ADDRESS 6624 Sky Pointe Dr., 89131 BUYER WDG 6624 Sky Pointe, LLC SELLER 2010-1 RADC/CADC Venture, LLC DETAILS ; $315,000 APN 125-21-710-014 REP (Both) David Howes of David Howes Commercial Real Estate Lease, Retail ADDRESS 8350 N. Decatur Blvd., 89031 TENANT Spartan Arms and Range Supplies LLC LANDLORD Decatur Horse LLC DETAILS… [More…]

Park Place Infiniti Sponsors Smiles for Survivors; Governor Approves Solar Tax Incentives

Park Place Infiniti Sponsors Smiles for Survivors Park Place Infiniti is sponsoring the fourth annual Blow Out Breast Cancer event, presented by the Smiles for Survivors foundation and Square Colour Salon and Spa. [Read More…] Governor’s Office of Energy Approves Solar Tax Incentives Highlighting its commitment to renewable energy in Nevada, the Governor’s Office of Energy… [More…]

Dickson Realty Selected as Exclusive Listing Broker for The Residence Club at Nakoma

Reno, Nev. – Dickson Realty has been selected as the exclusive listing broker for The Residence Club at Nakoma, a golf resort community near Graeagle, Calif. in Plumas County. The Residence Club at Nakoma is an equity residence club providing members shared ownership of fully furnished Frank Lloyd Wright-inspired residences within the Nakoma resort community.… [More…]

Managing Nevada: Commercial Property Management in the Silver State

As the commercial real estate market is enjoying a healthy rebound, commercial property owners are on the hunt for experienced property management.

As the nation’s recession continues to drift further into the distance, the commercial real estate market is enjoying a healthy rebound. This means more commercial property owners are on the hunt for experienced property management companies to protect their investments. During the height of the economic downturn, Nevada’s real estate industry was on the receiving… [More…]

NAIOP Works for Southern Nevada’s Commercial Real Estate Industry

NAIOP gives everybody a seat at the table and allows the leaders of the Southern Nevada’s commercial real estate industry the opportunity to work together.

As an organization, it’s clear that NAIOP works. The commercial real estate development association serves as the premier trade organization for commercial real estate development professionals in Southern Nevada. Membership includes brokers and developers as well as general contractors, bankers, architects, engineers, title companies and attorneys. In large part, it’s the people that make the… [More…]

Retail Summary: Second Quarter 2014

Southern Nevada The Las Vegas retail vacancy rate reported a slight increase in the second quarter of 2014. The rate rose 0.1 percentage point compared to the prior period (Q1 2014) to 9.1 percent. However, compared to a year ago, the retail vacancy rate remains down 0.7 percentage points. Since the high of 11.1 percent… [More…]

Nevada Land Market Continues to Recover

“The land market has been in recovery since 2010, and homebuilders have been driving that,” said managing partner of Sunbelt Development & Realty Partners.

Demand for land in Nevada has resembled a rollercoaster pattern this decade. During the real estate boom in the first half of the 2000s, both residential and commercial developers hungrily purchased land, driving up prices. With the recession, the opposite happened; development nearly ceased, land demand decreased and so did the price. Again, the pendulum… [More…]

Office Summary: Second Quarter 2014

Southern Nevada The Las Vegas office vacancy rate declined in the second quarter of 2014 after increasing in the first quarter of the year. During the latest period, the sector reported a vacancy rate of 25.2 percent, which is down 0.4 percentage points from the prior quarter. Compared to a year ago, vacancies have fallen… [More…]

Nevada’s Residential Market: A Season of Change

For the last two years, Nevada’s residential housing market has seen substantial rebound, with significant effect on prices.

For the last two years, Nevada’s residential housing market has seen substantial rebound, with significant effect on prices. Lowered median home prices have created low inventory and a seller’s market, which in turn impacted distressed properties and neighborhoods. “People are a lot smarter today, having learned from mistakes that occurred in the market; buyers are… [More…]

Industrial Summary: Second Quarter 2014

Southern Nevada The Las Vegas industrial market vacancy rate stood at 10.9 percent by the end of the second quarter of 2014. The latest period represents a decline of 0.9 percentage points when compared to the prior quarter. Compared to a year ago (Q2 2013), industrial vacancies in the Valley have fallen an even more… [More…]

Vegas Home Prices Rise, Market Sees More Traditional Buyers

The median price of an existing single-family home sold in Southern Nevada during June was $199,900 – the highest mark since September 2008. This is according to recent statistics released by the Greater Las Vegas Association of REALTORS (GLVAR). The median price is 2.5 percent higher than May and up over 14 percent compared to June… [More…]

CCIM: Join the Club

The requirements to earn the CCIM designation are challenging and extensive, necessitating a commitment of time, effort, money and, often, sacrifice.

After Nevada’s economic downturn and resulting real estate crash had begun, Cindy Santilena, a Las Vegas commercial real estate lender for small businesses and entrepreneurs, was looking for a way to highlight herself and her company when working with other industry professionals during a struggling, competitive market. She decided to pursue a CCIM, a prestigious… [More…]

Nevada Real Estate & Development Report: July 2014

Read the Nevada Real Estate and Development Report: July 2014 - Commercial real estate and development - projects, sales, and leases.

E Sale, Multi-Family ADDRESS 1401 N. Lamb Blvd., 89110 BUYER Masuda Family Trust SELLER Brooksone Apartments, LLC DETAILS 193 units; $10,550,000 APN 140-29-101-019 SELLER’S REP Patrick J. Sauter and Art Carll of NAI Vegas The Sauter Multifamily Group H Sale, Multi-Family ADDRESS 1651 American Pacific Dr., 89074 BUYER Hamilton Zanze & Company SELLER The Calida… [More…]

Retail Summary: First Quarter 2014

Southern Nevada The Las Vegas retail market continued to witness increased demand in the first quarter of 2014 as the sector reported positive net absorption for the fourth consecutive quarter. The retail market vacancy rate fell to 9.0 percent by the end of the first quarter, which is down 0.1 percentage point from the prior… [More…]

GLVAR Partners with ListHub to Educate Members on Real Estate Listing Syndication Issues

GLVAR is the first multiple listing service to participate in the free listing syndication education program, WiseAdvertise.

ListHub Kicks Off WiseAdvertise Syndication Education Program MORGANTOWN, W. Virginia – ListHub, the leading distributor of U.S. property listings to U.S. publisher websites and provider of real estate performance metrics, announces the launch of a free listing syndication education program, WiseAdvertise. The Greater Las Vegas Association of REALTORS (GLVAR) is the first multiple listing service (MLS) to participate… [More…]

Nevada Real Estate & Development Report: May 2014

Read the Nevada Real Estate and Development Report: May 2014 - Commercial real estate and development - projects, sales, and leases.

E Project, Industrial ADDRESS 400 S. Seventh St., 89101 DETAILS The Korte Company completed the Robert T. Eglet Advocacy Center in Downtown Las Vegas. The $17.5 million three-story building covers 96,875 SF with office space occupying a little over 47,600 SF. The architect for the project was Design Cell Architecture. H Sale, Industrial ADDRESS 1175… [More…]