VEGAS INC Magazine - Latest Las Vegas business news, features and commentaries about gaming, tourism, real estate and more
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IN BUSINESS SALES NUMBERS COMMONLY LOWER IN JULY SALES, FROM PAGE 11 numbers from SalesTraq. Through July, Las Vegas has had 33,219 existing home sales compared with 51,124 for all of 2010. The record is 55,408 in 2004. The same can't be said about the new- home market, which DataQuick said is on pace to be the third lowest since 1994. July's new home sales accounted for 10.3 percent of all transactions compared with a monthly average of 30 percent over the past decade, DataQuick said. SalesTraq reported 315 sales in July, which is down from 357 in June and 22.8 percent below the 408 sales in July 2010. Through July, builders have sold 2,067 homes compared with 5,438 for all of 2010, SalesTraq reported. The median price of new homes sold in Las Vegas in July was $199,000, a 5.2 percent decline from July 2010, when the price was $210,000. The price was $200,000 in June. The average price per square foot for homes sold in July was $99.47, which is higher than the year's average of $97.80. Builders remain pessimistic about the housing market— 286 permits were taken out in July, a 21 percent decline from July 2010. That's the fewest number of permits since builders took out 236 permits in February. DataQuick reported 41.9 percent of the homes sold in July were for less than $100,000 as cash buyers and investors gobbled up the properties. That's up from just 32 percent since July 2010. As for bank repossessions, SalesTraq reported they slowed to 1,502 in July rather than accelerating as expected. Your Business Can Be Greener Than You Think BROKERAGE GAINING 150 EXECUTIVES PRUDENTIAL, FROM PAGE 11 strongly since it entered Chapter 11 bankruptcy protection in November 2007 and exited in 2008. Prudential Americana also owns Prudential Arizona Properties, the largest Prudential franchise in Arizona, which was acquired this year. The company now houses nearly 1,900 real estate professionals in 15 offices between the two states. "This was a great opportunity to work with a company that has built such a stellar reputation in the 27 years it has been in business in Las Vegas," said Prudential American CEO Mark Stark. "Century 21 MoneyWorld has consistently been ranked in Century 21's Top Ten in the nation." Mike West, managing broker of Century 21 MoneyWorld, will continue working with Prudential Americana Group in management and business development roles. Earl Lee, president of Prudential Real Estate and Relocation Services, participated in the announcement to Century 21 MoneyWorld employees. "A strong Prudential Americana Group team just became stronger with the addition of top professionals from Century 21 MoneyWorld," Lee said. "The transaction enables Prudential Americana Group to extend its reach and influence, and Las Vegas real estate consumers will benefit." | 29 AUGUST 2011 | 13 Commercial Energy Audit Commercial Equipment Rebates are available for natural gas storage water heaters, griddles, steamers, fryers, and combination ovens. REBATES 50% up to $2,500 Rebates are available to industrial or large commercial customers in Nevada using at least 15,000 therms of natural gas a month. REBATES 50% up to $5,000 Learn how you can make energy decisions that are Smarter Greener Better for you, your business, and the environment. Please visit us at www.swgas.com/effi ciency/nv or call 1-800-654-2765 to obtain equipment eligibility and rebate application information.