VEGAS INC Magazine - Latest Las Vegas business news, features and commentaries about gaming, tourism, real estate and more
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READ ALL ABOUT IT THE ECONOMY REAL ESTATE REPORT: APRIL SEES SHARP DROP IN HOME SALES By Buck Wargostaff writer Southern Nevada home sales fell rather sharply in April after a huge gain in March and the median price held steady, according to the Greater Las Vegas Association of Realtors. The 3,084 single-family homes were sold in April—9 percent fewer than March. The median price of those sales was $125,000, $950 lower than March and 12 percent lower than April 2010. GLVAR officials said the drop off FILLING BACK UP: More than 92,000 people registered for the National Association of Broadcasters Show held at the Las Vegas Convention Center in April, an increase of more than 4,000 over the 2010 show. Three Good Reports Portend A Comeback 10.3% By Erin Dostalassociate editor A couple of decades from now, when our homes are back above water and our state’s unemployment rate is closer to zero than 15 percent, we may be looking at May 10, 2011, as the day everything started turning around. Three significant economic indicators for our state reported—on the same day—some much needed good news. Gaming on the Strip increased by 12.8 percent in March, the Gaming Control Board reported. There was a particular increase in baccarat and other table games. Those winnings for the Strip amounted to $527.2 million, the board said. SEE GOOD NEWS PAGE 16 Bolstered by the 125,000-person ConExpo- Con/Agg tradeshow in March, convention attendance jumped by 10.3 percent over March 2010. The number of visitors overall increased from 3.22 million to 3.4 million. MEET MARIE. SHE TAKES SCANNING SERIOUSLY. Marie works in the document imaging division and can transform your paper-packed offi ce into paperless. Your documents can be scanned onto a disk or placed on a secure Internet site for easy access. | 16 MAY 2011 | 072149.01_ref 069664.01 _OV_B2B_Imaging Center Meet Marie_Vegas Inc_5/16_ 1/8 strip 9.5" x 1.5"_NON-BLEED_4/C IDD _Fonts: Helvetica Neue_AE/AAE: NS_CD: RL_CW: JB_DZ: Sue_GA: Dorcus 5.5.11; tom 5/6/11 loaded in sales in April isn’t an ominous sign for the Southern Nevada’s housing market. April’s sales were 4.5 percent SEE APRIL PAGE 16 REAL ESTATE NATIONWIDE, HOME VALUES TUMBLE VEGAS INC Staff U.S. home values fell faster in this year’s first quarter than during any quarter since 2008. In Las Vegas, that tumble has left 85 percent of homes with mortgages underwater, according to online real estate service Zillow. Las Vegas had the country’s highest rate of underwater homeowners. Nationwide, SEE HOME VALUES PAGE 14 WE NOW OFFER DOCUMENT MANAGEMENT SERVICES. Marie is just one of the many Nevadans with disabilities who wants to work for your business. You can trust that your documents will be scanned and indexed securely. It’s an environmentally friendly and cost-effective way to fi nd smart business solutions. Call us for a quote or to schedule a tour. 702.880.4092 opportunityvillage.org 11 24% Since January 2008, more than 107,000 homes, or about 24 percent of the single- family homes available in Southern Nevada, have been sold. STEVE MARCUS