Real Estate Blog

Las Vegas’ shortage of affordable housing is worst in the country, study finds

Carpenters work on an affordable housing complex being built by Nevada HAND on Boulder Highway, Monday, Jan. 23, 2017. Nevada HAND is a real estate development company that focuses on affordable housing projects.

Poor families seeking affordable housing are better off in any other metro area than Las Vegas.

According to a study released this week by the National Low Income Housing Coalition, Las Vegas has the biggest shortage of affordable and available rental homes. Only 12 affordable rental units are available for every 100 households classified as “extremely low income.”

Nevada overall fares only slightly better, with 15 units available for every 100 households.

The national average is 35.

A household is considered extremely low income if its annual income is at or below 30 percent of the area median income. The area median income in Clark County is $59,000. That means a family of four would be considered extremely low income at $24,300 or less.

Report: NFL players could be fined for part in Las Vegas charity event

Raiders fan Brandee Chavez poses with a sign by the Welcome to Las Vegas sign after NFL owners in Phoenix voted to approve a Raiders move to Las Vegas Monday, March 27, 2017.

NFL players could be fined for taking part in a charity arm-wrestling tournament this weekend in Las Vegas, ESPN is reporting.

The league, despite signing off last month on the Oakland Raiders relocation here, still doesn’t allow its players to make appearances at casinos. Remember in 2015 when Tony Romo couldn't participate in a fantasy football conference here?

Pro Football Arm Wrestling Championship, which took place at the MGM and will be televised in late May, included Pittsburgh’s James Harrison, Raiders’ punter Marquette King, Miami receiver Kenny Stills and others, according to ESPN. The report says each could each be fined.

Millennials make biggest impression in visitor survey

Tourists pose in front of the iconic Welcome to Fabulous Las Vegas sign in this file photo.

A spike in millennial visitors to Las Vegas has the generation almost eclipsing Generation X tourists in town.

The Las Vegas Convention and Visitors Authority released its annual Las Vegas Visitors Profile on Wednesday, made up of survey results from 3,600 participants, confirming millennials are poised to make up the largest chunk of Las Vegas tourist numbers.

About 34 percent of the almost 43 million visitors to Las Vegas were millennials last year, up from 24 percent in 2015. Generation X visitors dropped from 36 percent to 35 percent, and Baby Boomers fell from 35 percent to 28 percent during the same timeframe. http://www, 

Legislature takes up bills to stop taxing tampons, diapers

Lawmakers nearing a deadline next week have heard two bills that seek to temporarily end the tampon tax, with one measure also seeking to exempt diapers.

Assemblywoman Sandra Jauregui, D-Las Vegas, is sponsoring the measure that includes diapers. She said Thursday that Nevada has already decided not to tax groceries and other items deemed necessities, as well as certain products that are non-essential.

“We currently don’t tax soda, we don’t tax candy, there’s no reason we should be taxing feminine hygiene products or diapers,” she said before Assembly Bill 402 came up for a hearing Thursday.

With NFL stadium on the way, attention turns to I-15 upgrades

With the proposed NFL stadium at Russell Road west of the freeway increasing their urgency, several road projects to address traffic growth on the Interstate 15 corridor over the next 20 years are in the planning stages. 

Now that the Raiders’ move to Las Vegas has been approved, focus is shifting to what needs to be done for the $1.9 billion, 65,000-seat domed stadium to be complete for the 2020 season.

As important as any aspect is the access to the proposed stadium site on Russell Road west of Interstate 15. The Nevada Department of Transportation is in the initial stages of road projects that have already been planned to address traffic growth on the Interstate 15 corridor over the next 20 years.

“NDOT is drafting the scope of work for environmental clearance and preliminary engineering for the I-15-Tropicana interchange reconstruction and the direct-connect HOV (high-occupancy vehicle) ramps proposed at Hacienda and Harmon,” said Rudy Malfabon, NDOT director. “A request for proposal will be issued in a few months for that scope of work.”

As squatting problem grows in Las Vegas, lawmaker offers solution

Police officers peek into a vacant North Las Vegas home that had been occupied by squatters, Wednesday, May 18, 2016. A new legislative measure aims to help authorities combat squatters. 

CARSON CITY — In August 2016, a Las Vegas property manager showed up at a vacant home where squatters had been reported and saw two people run out the back door.

Two hours later, somebody drove by and fired 28 rounds from an assault rifle into the property.

It was no coincidence, said Metro Police Lt. Nick Farese, nor was it particularly uncommon. Speaking in support of a legislative bill aimed at reducing squatting by adding new requirements for lease agreements, Farese on Monday recounted a number of criminal acts involving squatters in recent years. Fatal shootings, arson, identity theft and drug crimes were on the list.

Southern Nevada home prices continue to rise in February

A look at model homes for sale at the Toll Brothers’ first Active Adult Community called Regency at Summerlin on March 3, 2016

Despite an increasingly tight housing supply, the number of Southern Nevada home sales continued to rise in February, the Greater Las Vegas Association of Realtors reported on Tuesday. 

The total number of existing local homes, condos and townhomes sold in February was 2,815, up from 2,676 in February 2016. Compared to one year ago, sales were up 6.5 percent for homes and up 0.4 percent for condos and townhouse.

Accompanying the tight supply is the continuing increase in prices. The median price of existing single-family homes sold during February through GLVAR's multiple listing service increased to $240,000, up 0.8 percent from January and up 8.9 percent from February 2016. The median price of local condos and townhomes sold in February was $118,000, up 4.0 percent from January, but down 2.9 percent from February 2016.

Wild West 5K Challenge at Bonnie Springs to benefit kids with diabetes

A view from the Wild West Cross Country 5K Challenge at Bonnie Springs in 2013.

To raise funds for a children’s summer camp, the Nevada Diabetes Association wants participants to grab their best western wear and head out on Saturday to the fifth-annual Wild West Cross Country 5K Challenge.

Participants of the family-friendly event, which runs through Bonnie Springs Ranch in the Red Rock Canyon National Conservation Area, have the option to race in the 5K, a 1-mile “fun run” and a quarter-mile dash geared for children under 5.

Registration remains open and those interested can visit for more details.

Proceeds from the event will go to the organization’s Camp Vegas, said Tasha Thatcher, a representative from the Nevada Diabetes Association.

Pollo Campero fanatics flock to first Las Vegas location

Customers wait in a line that extends outside the new Pollo Campero, 1025 W. Craig Rd., Wednesday, April 5, 2017. The restaurant, founded in Guatemala, is the first Las Vegas location for the popular Latin chicken chain.

The line at this new chicken restaurant in North Las Vegas wrapped out the front door and around the side of the building. The wait in the drive-thru was more than 30 minutes.

No, Chick-fil-A hasn’t opened another Southern Nevada location. Rather, it is Pollo Campero — a Latin speciality chain with roots in El Salvador and Guatemala dating back to the 1970s.

When Chick-fil-A opened two locations earlier this year, many locals waited in line hours at time for a taste of chicken that reminded them of home. The city’s Hispanic community is doing the same this week in celebration of Pollo Campero’s opening at 1025 W. Craig Road.

“It reminds me of going there with my family as a child,” said El Salvador native Alejandra Dominguez, who stood outside a side door of the new restaurant shortly before ordering a plate of citrus-flavored fried chicken legs and empanadas. “It was one of our favorite places back home.” 

Southern Nevada sees increase in rental rates

Construction continues on apartments near Stephanie Street and Interstate 215 in Henderson this month.

RentRange’s final quarterly report for 2016 showed that the average monthly rent for a three-bedroom home in the Las Vegas area bumped up to $1,286, representing a 6.1 percent increase over the same time the previous year. That elevated price still lags behind the national average, as nationally, the same-sized house costs $1,325 on average. That is a 2.4-percent increase over the same period in 2015.

Apartment rents rose as well, with 6 percent growth to $904 on average in January, according to a report from RENTCafe. The same report expects increased inventory to alleviate some pricing pressure on apartment rent in Las Vegas, with 3,400 units under construction.

Thank you for visiting today. If this is your first visit, take your time and look around. I have plenty of information and resources available to you. If you are a return visitor, thank you. I would love to hear from you and help you with your real estate needs.

agent photo
Rosemarie Cortez-Kudo-REALTOR
Signature Real Estate Group
9525 Hillwood Dr., Suite 180
Las Vegas, NV 89134
Phone: 702-232-5407
Fax: 702-948-5212
NV RED S.0066949 
Residential and Commercial 

Contact Me

* fields are required

Thank you for visiting today. If this is your first visit, take your time and look around. I have plenty of information and resources available to you. If you are a return visitor, thank you. I would love to hear from you and help you with your real estate needs.

Real Estate Websites by iHOUSEweb iconiHOUSEweb | Admin Menu