Developers maximize tax breaks before conversion

Scott Henniger and his wife Tracey's apartment has been gutted.
When work is complete, the place will be expanded with new floors, new rooms and added amenities. In fact, it won't be an apartment anymore at all -- it'll be a condominium.
After six years as renters in the Shrine Building, the Hennigers faced the question to buy or not to buy. It's a question facing a growing number of Downtown renters, as one apartment building after another makes the conversion to condos to meet a seemingly insatiable demand for private residential property in the city's core.
See Full Story...MSN Money

Sept. 12 (Bloomberg) -- What if U.S. housing bears are wrong and the home market is not peaking?

Let's assume for a moment that homebuyers and investors will not be too chastened by high energy bills and mortgage rates will stay about the same.
If the boom hangs in there, thank local economic growth and job creation, low mortgage rates and demographics.
Housing is still appreciating, and U.S. home prices rose 13.4 percent as of June 30 from the same period a year earlier, according to the Office of Federal Housing Enterprise Oversight, the agency regulating the mortgage corporations Fannie Mae and Freddie Mac. That was the largest annual increase recorded by Ofheo in 25 years. New home sales also set a record in July.
See Full Story...Bloomberg.com

NAR: $2.2 Million Raised for Hurricane Relief

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Latest pricing information

Looks like the average home price in Las Vegas Nevada is still climbing. Through June 2005, the average price for a single family home rose to $344,650, and the average condominium price rose to $200,166.