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In business real estate tourism development december strong for valley home prices push for asian traffic gets boost hospice to open in southwest valley By Eli Segall staff writer Las Vegas home prices had a strong finish to 2012 as the valley posted one of the best sales years ever. The median price of Las Vegas Valley singlefamily homes sold in December was $149,000, up 24 percent from a year earlier, according to a new report from the Greater Las Vegas Association of Realtors. There were 3,624 total sales last month, down 15 percent from a year ago. The 44,902 homes sold in the valley last year was down 7 percent from 2011 but still the third highest since 2000, the GLVAR said. The top sales year so far is 2011, with 48,186 sales, followed by 2009's 46,879 sales. Short sales grabbed a record chunk of sales last month, accounting for 46 percent, up from almost 27 percent a year earlier. The previous record was 44.8 percent, in September. Foreclosures, which made up more than half of all sales a few years ago, accounted for just 9.5 percent of deals last month, the GLVAR said. The housing market has been propped up by cash investors, who prowl for cheap homes to rent out. By Richard N. Velotta senior staff writer Las Vegas could see additional visitation from Asia next summer with Korean Air's decision to increase its Seoul-to-Las Vegas nonstop flights. Las Vegas Convention and Visitors Authority aviation consultant Damon Hylton, vice president of Virginia-based Seabury APG, confirmed that Korean Air would add a fourth weekly round-trip flight between Incheon International Airport in Seoul and McCarran International in May. The airline currently flies the route Mondays, Wednesdays and Fridays and will add Sunday flights. The Las Vegas partners working to develop additional air service to the city — the LVCVA, McCarran and Seabury — are expected to use Korean's expansion plan as evidence that the city is a lucrative nonstop destination from Asia. Hylton said some Asian carriers are looking at possible flights to Las Vegas, and a contingent from Las Vegas will attend the Routes Asia and Routes Europe conferences later this year in advance of the Routes World conference in Las Vegas in October. By Eli Segall staff writer A $5 million hospice center is set to open this spring in the southwest Las Vegas Valley. Infinity Hospice Care started construction in the fall on a two-building, 19,000-square-foot campus on South Jones Boulevard near the 215 Beltway. One building will house administrators and is set to open in mid-May. The other, a 12-bed hospice center, will start admitting patients in late May or early July, Vice President Brian Bertram said. Both are still under construction. Hospice facilities serve terminally ill patients who are expected to live less than six months. Infinity already serves patients in Las Vegas, Pahrump, Reno and Phoenix, but the Jones Boulevard facility would be the first it owns and operates. Right now, the group serves clients in their homes or at non-hospice nursing facilities. The business is a family enterprise. Bertram's mother, company President Mary Bertram, founded Infinity in 2005. Another one of her sons, Darren Bertram, is CEO. The new complex is being built one mile south of another 12-bed hospice center, operated by Solari Hospice Care. REAL ESTATE POWERHOUSE Introducing Newmark Grubb Knight Frank Las Vegas • Oneoftheworld'sleadingcommercialrealestateadvisory¿rms • Morethan300of¿ceson¿vecontinents • Over11,000employees • Servespropertyneedsoftenants,owners,investorsand developersworldwide 3930HowardHughesPkwy. Suite180 LasVegas,NV89169 702.733.7500 702.862.8242 www.newmarkkf.com 4 Minimum number of best news website awards a media company should win before you log on. Leach, Kats, Chareunsy, Coolican, Brewer, Velotta, Spotleson, Bern Pulitzer | Dupont | EPPY | General Excellence 8 20130121_VI08_F.indd 8 | 21 JANUARY 2013 | 1/17/13 3:32:25 PM