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HUD Homes Present Opportunities for Home Buyers

LAS VEGAS -- The Department of Housing and Urban Development or HUD has hundreds of homes for sale in the Las Vegas valley market and the homes are in neighborhoods including Summerlin, Rhodes Ranch and Mountain's Edge.

One local broker told 8 News NOW that the HUD homes are becoming quite popular buys because it's a faster process than buying a short sale home and some of the HUD homes are in upper end neighborhoods.

"Normally HUD has been stigmatized as being a broken down shanty shack almost and really we have great homes like this one that are in Summerlin, Southern Highlands, all around the Las Vegas and Henderson area," said Thomas Blanchard, First Realty Group.

HUD Home Listings

BREAKING NEWS: Wind Advisory and Freeze Watch Issued

LAS VEGAS -- A wind advisory has been issued starting at 3 p.m. and lasting until midnight for Clark County and southern Nye County and a freeze watch will be in effect Wednesday night.

Winds are expected to be gusting between 20 to 30 mph and with gusts possible to 50 mph. There is also a slight chance of rain. The temperature will drop Wednesday and is expected to be in the 40's on Thanksgiving Day making it one of the coldest in recent years.

Check here for the latest Neighborhood Weather

A freeze watch is in effect from Wednesday night to Friday morning. Some neighborhoods could see temperatures in the 20's.


Home Sales Drop in Southern Nevada in August

LAS VEGAS -- The Greater Las Vegas Association of Realtors says fewer homes were sold in August but prices were higher than one year ago.

The association said Thursday that the median price for single-family homes rose to $140,000. That's up more than 3 percent compared with August last year and nearly 4 percent more than July's median price.

More than 2,800 units sold last month, nearly 13 percent fewer than the number sold in August last year. Just under 3,000 homes sold in July.

Association President Rick Shelton says the decrease in sales is likely tied to a federal homebuyers tax credit that expired in April. Shelton says the year-over-year decrease in sales mirrors a spike in sales seen last year when the credit was available. 

(Copyright 2010 by The Associated Press. All Rights Reserved.)


Cox to Offer Video-on-Demand Content Through TiVo

SAN FRANCISCO -- Digital video recording pioneer TiVo Inc. and cable television provider Cox Communications Inc. are making it easier for Cox subscribers who use TiVo's DVR boxes to watch Cox's on-demand video content.

The companies said Thursday that Cox's video-on-demand library will become accessible on TiVo's latest DVR, the TiVo Premiere, in Cox's major markets, which include San Diego and Las Vegas. The integration is expected early next year.

In the past, cable providers haven't integrated their on-demand content with consumer DVR products such as those from TiVo, so watching on-demand movies or television shows from Cox and other companies has been a cumbersome process for TiVo users.

(Copyright 2010 by The Associated Press. All Rights Reserved.)

Former Sen. Ted Stevens Dead; O'Keefe Survives Airplane Crash

WASHINGTON -- A plane carrying former Sen. Ted Stevens and eight others crashed in remote southwest Alaska, killing the longtime Republican lawmaker and four other people, authorities said Tuesday.

Ex-NASA chief Sean O'Keefe and his teenage son were also aboard and survived the crash, according to a former NASA spokesman.

Stevens' family has been notified that the 86-year-old was among those killed in the crash Monday night, family spokesman Mitch Rose told The Associated Press.

Rescuers arrived on helicopter early Tuesday and were giving medical care to survivors, Alaska National Guard spokesman Maj. Guy Hayes said. He offered no additional details, except that there were potential fatalities.

Alaska officials reported that nine people were aboard the aircraft and that "it appears that there are five fatalities," NTSB spokesman Ted Lopatkiewicz told The Associated Press in Washington.

Nearly 4,000 Nevada Homes Saved from Foreclosure

LAS VEGAS -- A new state program aimed at bringing troubled homeowners face to face with their lenders is having some success.

More than 90,000 Nevada homeowners received letters of default within the past year. Of those, 11,000 participated in the Nevada Foreclosure Medication program. And, to date, nearly 4,000 homes have been saved.

The law to help homeowners was passed in 2009 as Nevada headed to the top of the list for foreclosures.

Officials say the program is successful as long as lenders to come to the table to ready to negotiate.

More Businesses Moving to Downtown Las Vegas

LAS VEGAS -- The economy is tough, but some businesses are bucking the trend by expanding and relocating. And Downtown Las Vegas is getting a lot of attention.

After more than a year of searching for the perfect spot for her business, Michelle Dimauro, with Habit Design Studio, says she found it.

"Ever since we opened our business, we wanted to be in the Arts District," she said.

She isn't alone. Las Vegas Mayor Oscar Goodman says now more than ever, businesses are showing interest in relocating and even expanding to the downtown corridor, including the Arts District. Mayor Goodman says the city has pulled out all the stops in an effort to attract businesses to the area.

"All we can do is make it business friendly. We've waived all of the liquor license fees for these small taverns. We're changing our zoning requirements -- not making it as difficult," he said.