Tag Archives: houses

Not again: Report discovers Nevada houses among many misestimated

Nevada homes not just were the most overvalued in the country at the peak of the real estate bubble last years, but prices are amongst the most inflated now, brand-new information reveal.

Homes statewide are 15 percent misestimated, tied for highest in the country with North Dakota and Hawaii, according to analysts with Fitch Ratings.

Reno homes are 20 percent misestimated; Las Vegas houses, 14 percent.

Rhode Island is at the bottom of the pack among the states and Washington, D.C., with houses 14 percent undervalued.

At the peak of the 2000s, Nevada homes were 48 percent misestimated, the greatest in the nation. Florida– another state associated with the boom and bust– was 2nd greatest at 43 percent.

Las Vegas homes were 49 percent misestimated at the time; Reno, 45 percent.

Every state was inflated at the peak of the bubble, although Oklahoma was the least bloated, with houses just 5 percent miscalculated, Fitch says.

The bond-ratings company today released an interactive map revealing its findings.

In late March, Fitch said Las Vegas was the seventh-most overvalued real estate market in the nation, as investors raised costs amid restricted supply and a slow economy.

Housing need in Southern Nevada– in addition to other boom-and-bust areas including Miami and Phoenix– has actually been reinforced by outside buyers. Such markets also have high rates of undersea property owners, limiting the variety of homes for sale, Fitch reported.

Small changes in demand have actually had “an outsized impact on cost” in these locations, and growth is “expected to be more delicate than true demand-based expansion,” Fitch experts wrote.

Investors swarmed Las Vegas for inexpensive houses after the economy broke down, often turning them into rentals. They helped the marketplace recover, pushing up rates at among the fastest rates nationally and raising fears of another bubble.

But the purchasers caused Las Vegas and other markets to be “dependent on external demand sources,” Fitch said in March.

Faced with greater prices, financiers have actually been backing out of the valley, and price-growth has cooled significantly.

Fire triggers evacuation of 150 houses near Bullhead City, AZ .


A large wildfire has caused 150 homes to be evacuated in Mohave Valley, AZ. The fire triggered in a wildlife refuge Saturday early morning and has actually been called the Willow Fire.

Mohave Valley is simply south of Bullhead City and across the river from Laughlin, NV. Bullhead City and the Mohave Valley are hectic this weekend as thousands have descended on the Colorado River for the annual Bullhead City Regatta.

The Bureau of Land Managment reports the fire has actually already burned 2,000 acres with flames 75 feet high. Fire teams are producing a fire line with bulldozers.

The Mohave County Sheriff’s Department, along with the Mohave County Emergency situation Management, have actually put mandatory evacuations in order for all houses south of Laguna Roadway and east of Vanderslice Road in Mohave Valley.

The Red Cross has actually established an emergency shelter at a primary school in the area for the 430 citizens who have been left.

Those in the evacuated area with livestock have the ability to take their animals to the Needles Rodeo Grounds at 817 3rd Street in Needles, CA.

Trish Carter, with the Mohave County Sheriff’s Department, said smoke can be seen from Kingman, AZ, about 40 miles east of Bullhead City. She additionally said winds in the area have moved and are influencing the fire suppression.

FOX5 has a crew en route and will update this story as more information is released.

Copyright 2015 KVVU (KVVU Broadcasting Corporation). All rights reserved.

2 houses from '' Breaking Bad ' for sale in Albuquerque


Russell Contreras/ AP

This 3,500-square foot, 4-bedroom home in the Albuquerque’s Nation Club area that was utilized in AMC’s TELEVISION series “Breaking Bad” is up for sale, Wednesday, July 29, 2015.

Wednesday, July 29, 2015|5:39 p.m.

ALBUQUERQUE– Two homes included on the hit AMC-TV series “Breaking Bad” are up for sale in Albuquerque.

A mother-daughter realty team stated today they are assisting sell the house where the fictitious Jesse Pinkman made methamphetamine.

The two-story, 3,500-square foot, four-bedroom home in Albuquerque’s Nation Club location is noted for $1.6 million.

The sales team developed a website to promote your houses, which includes the caveat “Meth laboratory not included.”

Susan C. Feil and Alicia Feil Peterson of Coldwell Lender Tradition list another home that appeared in the series finale in Albuquerque’s North Valley for $2.65 million. That house is where the show’s primary character, Walter White, played by Bryan Cranston, threatened his former company partner with 2 phony assassins.

“Breaking Bad” follows former high school teacher Walter White as he manufactures meth with a previous student, Jesse Pinkman, played by Aaron Paul.

The program ended in 2013, but tourism business in Albuquerque still accept the drug-addled series and offer “Breaking Bad” tours showcasing spots made popular in the program.

The city’s visitors bureau even includes a map of the show’s well-known places on its site.

A prequel to the show, “Much better Call Saul,” is shooting its 2nd season and just recently shot scenes near the Albuquerque bureau of The Associated Press.

“Better Call Saul” follows a struggling attorney, played by Bob Odenkirk, as he safeguards drug lords, petty bad guys and people who declare they were hurt in traffic accidents.

Major flooding rinses roadways, soaks houses in Wickenburg

Power poles down near MorristownPower poles down near Morristown


Near 4 inches of rain fell in Wickenburg Saturday during late afternoon and early night storms, rinsing roads and flooding houses and business owners.

APS validates that 52 power poles poles are down in the Wittman/Wickenburg area. Teams are evaluating damage. They estimate some 2,000 consumers lack power.

The Red Cross is preparing to jump into action if needed. Teams are standby to help those influenced by flooding. Anybody requiring shelter is being told to come to the Wickenburg Community Center at 160 Valentine St.

The rain in the Wickenburg area eventually slowed down. But for lots of, the clean-up is just beginning.

Jack Concern Roadway in Wickenburg looks more like the bed of a wash. When Saturday’s storm blew through, the street and the homes alongside the street flooded, and motorists in the area discovered their cars and trucks stuck in the mud.

“I got my other half’s car out of right here,” said one house owner. “This right here’s going to be filled with mud. My entire home is completely full. This is 2 years in a row now this has taken place.” The water also sneaked into nearby companies, consisting of the Horseshoe Cafe. Folks there have actually been working throughout the night to mop up the muddy mess.

Owner Debra Thompson says the water came in through the front door and left a deep, muddy path all the way to the restrooms and kitchen area.

“It was just a mess, and everyone simply started working really hard. Thank God or we would not have actually been open in the morning due to the fact that our day starts at 3 a.m.,” said Thompson.

Thompson worked at the cafe before purchasing it in 2008. She says this is the 3rd time flood waters have actually made it within.

Copyright 2015 KPHO/KTVK (KPHO Broadcasting Corporation). All rights reserved.

Twister harms businesses, houses in Nevada; no injuries

Published Friday, June 5, 2015|7:40 p.m.

Updated Friday, June 5, 2015|8:10 p.m.

RENO– A tornado ripped through the Nevada town of Hawthorne on Friday afternoon, destructive houses and operations, triggering scattered power failures and briefly closing down a highway, authorities stated. No injuries were reported.

The 3:30 p.m. twister touched down east of the town of 3,000, located about 140 miles southeast of Reno, and swept west along U.S. Highway 95, harming 5 companies and 4 or 5 homes, stated Mineral County Undersheriff Costs Ferguson.

Three of the houses were badly harmed, with either roofs or a wall blown down, he stated. Roofs, awnings and indications were blown off companies. Heavy rain flooded streets and some structures, and golf-ball-sized hail was reported.

“It’s the very first time in 37 years I have actually lived here that I’ve seen anything like it,” Ferguson told The Associated Press. “Individuals were scared. They remained in a state of shock. It’s a good idea no one was injured.”

The tornado also tore down power lines, street lights and trees, closed U.S. Highway 95 through town for roughly an hour and received an automobile and pressed it about 10 feet outside one house, he stated.

National Weather condition Service forecaster Marvin Boyd in Reno said tornadoes in Nevada are unusual and the event in Hawthorne was on the ground for just a minute or so. It’s believed to have included wind speeds between 65 miles per hour and 85 mph, but was relatively minor, he included.

“It’s very uncommon for them to hit a populated area in Nevada,” Boyd said, adding that the majority of tornadoes in the sparsely inhabited state take place in remote areas where they go undetected.

The weather service provided a severe storm caution after hail was reported in Mineral County about 15 minutes before the tornado touched down, he said.

Rain totals weren’t immediately offered.

A funnel cloud north of Reno on Friday afternoon never ever touched down, according to the weather service.