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IN BUSINESS HOMES BEING SOLD ARE SMALLER AND COST LESS NEW HOMES, FROM PAGE 11 The 267 closings in April are 44 percent lower than April 2010. The new-home market has tumbled since a federal tax credit effectively expired in April 2010. The homes being sold are smaller and cost less. The median price of those closed in April was $189,099, 7.5 percent below April 2010. The price per square foot fell to a new low of $91.17, which is 12.4 percent below the $104.05 square foot price in April 2010. Builders aren’t optimistic about a recovery by taking out 313 permits in April, 34 percent fewer than April 2010. For the year, 1,141 permits have been issued, which puts the region on track to fall below the 3,776 issued in 2010. The weak economy and better- priced existing home market has drawn people to those properties. Las Vegas recorded 4,970 closings of existing homes in April, 13.8 percent higher than April 2010. It’s only 95 fewer closings than March. Earlier this month, a report released by the Greater Las Vegas Association of Realtors said sales of its listings handled by Realtors fell 9 percent between March and April. Those will show up as closings at a later point. The GLVAR doesn’t track sales not on its Multiple Listing Service. Las Vegas has had 17,935 existing home closings through the first four months of the year, SalesTraq reported. The area is on track to surpass the 51,124 closings in 2010. The median price of homes closed in April fell again to $106,900, down from $108,900 in March. The price is 14.5 percent lower than April 2010’s median price of $125,000. The average price per square foot of homes closed in April was $70.08, down from $70.24 per square foot in March and down 14 percent from April 2010’s price of $81.15. ‘THE PERCEPTION IS WE DON’T WANT THESE PEOPLE’ VISAS, FROM PAGE 11 Market Association automotive show, the National Association of Broadcasters and ConExpo-Con/ Agg—were panelists. They and four others gave perspectives on how visa approvals could be streamlined and shared how business travelers who wanted to come to the US, but were discouraged by the onerous process. The problem is compounded because foreign businesspeople are discouraged from traveling here and thousands of small-business representatives who would attend as buyers have a hard time getting in too. A study by Oxford Economics for the Center for Exhibition Industry Research determined that visa impediments cost the US economy $2.4 billion a year because the average international buyer and exhibition attendee spends an average $13,600 a trip and international exhibitors spend more than $36,100. “The perception is we don’t want these people,” said panelist Roger Dow, president and CEO of the US Travel Association. “An article published in London illustrated with the Statue of Liberty holding one of those international stop signs said that other places have just about everything you could want.” “We’re shutting the door and pushing (conventions and trade shows) to Germany and Japan,” added Al Cervero, senior vice president of ConExpo-Con/Agg. Panelists said the visa bottleneck mostly boils down to infrastructure and bad policy. “There are 23 windows to serve visa applicants in Beijing, an office that serves millions of people in China,” said Steven Hacker, president of the International Association of Exhibitions and Events. “In Yankee Stadium, there are 40 ticket windows to sell tickets for 60,000 seats.” Teamwork 6 states. 75 stores. 13,000 employee-owners. And counting. At WinCo, the employees own the business. Together, they share in WinCo’s success. As a result, each employee- owner buys in to a culture of teamwork that supports the bottom line. Back Row: Tim Little, Linda Chandler, and Tina Elliott. Middle Row: Lori Neves, Laura Spelatz, Jonathan Collins, Jorje Millan, and Nicole Frane; Front Row: Junior Hernandez and Tammie Romero. Holland & Hart is proud to serve clients such as WinCo Foods because our attorneys, like WinCo’s employees, share in a culture of partnership, teamwork, and community success. Holland & Hart is the largest law firm based in the Mountain West with more than 400 attorneys in 15 offices across seven states and Washington, D.C. Visit our website or contact Greg Gilbert to learn more about Holland & Hart. Greg Gilbert, 702-669-4620, gsgilbert@hollandhart.com 3800 Howard Hughes Pkwy, 10th Floor Las Vegas, NV 89169 www.hollandhart.com LAS VEGAS RENO CARSON CITY ASPEN BILLINGS BOISE BOULDER CHEYENNE COLORADO SPRINGS DENVER DENVER TECH CENTER JACKSON HOLE SALT LAKE CITY SANTA FE WASHINGTON D.C. | 23 MAY 2011 | 19