WEB EXTRA: Real estate expert explains why apartment renters see an increase in rates

LAS VEGAS (KLAS) — According to experts, apartment rental prices are going up between 3 percent and 10 percent a year. Jim Brooks says we see the increase because companies are taking advantage of the demand. As long as there is a demand, the rent on apartments is likely to go up.

by Nikki Bowers / Apr 10, 2019 by Orko Manna / Apr 10, 2019

LAS VEGAS (KLAS) — Renting an apartment is going to get a lot more expensive in some areas because the price of rent is going up at numerous communities across the Las Vegas valley.

Many renters are feeling the effect of the increase when they renew their lease.

So why are apartments, including the older and smaller ones getting so pricey?

Read the Full Article by Nikki Bowers / Apr 10, 2019

LAS VEGAS (KLAS) — A former NFL player was arrested in Las Vegas Wednesday for child abuse. According to jail records, 28-year-old Cierre Wood is facing 1st-degree child abuse or neglect charges.

Court documents show a woman by the name of Amy Taylor was also arrested.

No other details were released.

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Apartment rental rates on the rise; renters feel pressure from the spike
New Las Vegas Ballpark draws first class reviews
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Tedd’s Forecast: Wednesday Evening, April 10th

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8 News Now Good Day

8 News Now Good Day

Sherry’s Forecast: Wednesday, April 10

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What’s Driving You Crazy? – Wed., April 10, 2019

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A conversation with legendary rocker John Fogerty

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Las Vegas Now

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North Las Vegas Mayor John Lee sits down with Kirsten and John

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Michael Shustek on the Las Vegas Housing Market

In 2018, home values in the Las Vegas valley increased significantly. With higher demand than available supply, there was a period where not enough homes were available for purchase. In response to this increased demand, an initiative to construct more homes was put into place. By December, more than 7000 homes were on the market.

The Las Vegas valley is considered a desirable location for families to settle down, but many properties are beyond their budgets. With this influx of home construction, more affordable homes have been built on the east side, resulting in lower prices and an increase in residency.

The eastern valley saw in increase of 89.5% of home sales in 2018 from the previous year. With more than 500 properties sold, this area was regarded as the most affordable area, but save for one region, all other areas of the valley experienced more sales, some exceeding three thousand sales in 2018.

Increased housing construction occurred not just in the eastern valley but in the other areas of Las Vegas as well. The eastern valley arguably saw the most growth, largely due to the universal rise in home prices last year driving buyers to the more affordable area. Home construction company LGI Homes purchased land that could have been considered unpleasant due to previous tenants, neighboring camps, proximity to vandalization, and more. However, their goal in purchasing these plots and building homes was to meet a demand for new homes from more price-conscious home buyers.

With the rising cost of living across the nation, Las Vegas witnessed one of the fastest rates of increasing home prices. More affordable options in regions like the eastern valley have created construction and investment opportunities, along with more options for families who want to settle in the area.

It is anticipated that home prices in Las Vegas will continue to rise, potentially at a higher rate than the rest of the nation, in 2019. Additionally, mortgage rates are expected to experience similar growth. For sellers, the price growth is good news. With more affordable homes being built and sold in areas like the eastern valley, buyers will also have an advantage when it comes to settling down in the Las Vegas area.

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Las Vegas morning update for Thursday, May 31 – VIDEO

That ties the series at 1-1 as the Capitals head back to home ice for Game 3 on Saturday at 5 p.m. 2. A rash of shootings across the valley has left three people dead in less than 24 hours. The deaths included a 2-year-old boy, who was shot and killed Wednesday morning while children played in a northeast valley apartment.

Start the conversation, or Read more at Las Vegas Review Journal.

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Las Vegas casino workers vote to authorize strike

Culinary and bartender union workers leave the Thomas & Mack Center in Las Vegas on Tuesday, May 22, 2018, after voting whether they want to go on strike. (Bizuayehu Tesfaye/Las Vegas Review-Journal) @bizutesfaye
Culinary and bartenders union members arrive at the Thomas & Mack Center in Las Vegas on Tuesday, May 22, 2018, to vote on a citywide strike. (Todd Prince/Las Vegas Review-Journal)
Culinary and bartender union workers leave the Thomas & Mack Center in Las Vegas on Tuesday, May 22, 2018, after voting whether they want to go on strike. (Bizuayehu Tesfaye/Las Vegas Review-Journal) @bizutesfaye Continue reading “Las Vegas casino workers vote to authorize strike”

Las Vegas to dole out $10M to help homeless, seniors, youth

The Las Vegas City Council on Wednesday voted to allocate roughly $10 million in anticipated federal grant funds to local programs for homeless, senior and youth programs.

City officials expect to receive millions of dollars from various grant programs administered by the U.S. Department of Housing and Urban Development, during its fiscal year that begins July 1. Las Vegas is slated to receive:

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Report: More Las Vegas college graduates living at home

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Young college graduates are more likely to be living with their parents than they were before the housing bubble, especially in places that had a more exaggerated boom and subsequent crash.

RELATED: First time home buyers struggle with low inventory, high prices in Las Vegas

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Civil rights leader John Lewis promotes education at Las Vegas gala

Civil rights leader U.S. Rep. John Lewis spent his lifetime fighting for racial equality and human rights, but the 78-year-old icon stopped in Las Vegas on Sunday with a new mission to support education for the next generation. Rep. John Lewis, D-Ga., poses at the Four Seasons in Las Vegas on Sunday, April 22, 2018.

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Strategic Storage Trust IV Acquires 580-Unit Self Storage Facility in Las Vegas

LAS VEGAS, April 6, 2018 /PRNewswire/ — Strategic Storage Trust IV, Inc. (SST IV), a public non-traded real estate investment trust sponsored by SmartStop Asset Management, LLC (SmartStop), announced today its acquisition of an approximately 580-unit self storage facility located at 8020 Las Vegas Blvd. South in Las Vegas, Nevada.

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Community Development Partners Opens Renovated Affordable Housing in Las Vegas

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NEWPORT BEACH, Calif., March 26, 2018 /PRNewswire/ — Community Development Partners and BLVD Capital will host a grand opening celebration for Baltimore Gardens and Cleveland Gardens Apartments on Tuesday, March 27, 2018 at 11am. The Baltimore and Cleveland Gardens project is a 201-unit, family development for households earning up to 60 percent of the area median income (AMI). The ribbon cutting will take place at 316 West Baltimore Ave in Las Vegas, NV, and will feature the following speakers:

Continue reading “Community Development Partners Opens Renovated Affordable Housing in Las Vegas”