Las Vegas Real Estate Blog

I want to address today's report from RealtyTrac on the monthly foreclosure activity data.

U.S. home foreclosures fell in June after jumping to a 30-month peak in May, but default rates will escalate as a horde of mortgages resets at higher loan rates.

Foreclosure filings fell 7% in June to 164,644 after jumping 19% in May, but they remain 87% above last June's pace, with one filing for every 704 households, RealtyTrac said in a monthly report.

Nevada's foreclosure rate, with one filing in June for every 175 households, topped the list for the sixth straight month and was more than four times the national average. The state's foreclosure filings dropped by 10% from May but remained three times the year-earlier level.

Las Vegas's foreclosure rate of one filing for every 138 households put it in fifth place. Greeley, Colorado, Detroit and Miami were among the cities with the highest foreclosure rates last month.

Nevada Cancer Institute will host a three-day conference on the effects of radiation on normal tissue. Conference presenters will focus on issues of: * Low dose radaition *High dose radiaiton *Recovery, remediation of normal tissue colleteral damage

Jazz vocalists and instrumentalists--agges middle school to senior citizens--are invited to attend. The camp is hosted by the CCSN Performing Arts Department and is one of only a few held in the U.S. Students should have a minimum of one year of study on their instrument. Attendees will work individually or in a group to improve their "improv" skills and have the opportunity to learn from, study with, play with and listen to jazz musicians of the highest caliber. Faculty will stage daily performances. Registration is underway for the unique five-day camp, which concludes with choir and combo performances by camp participants at 1 p.m. on Friday, July 20, in the June Whitley Student Lounge. This grand finale is free and open to the public. The fee for Jazz Combo Camp is $150, which includes tuition, daily lunch and admission to all workshops and performances. Event T-shirts are available for $15.

KB Home, a Los Angeles-based builder, has agreed to sell its entire 49% equity interest in its French subsidiary to a European private equity firm, PAI partners. PAI also plans to purchase additional shares from Guy Nafilyan, chairman and chief executive officer of the Paris-based Kaufman & Broad SA, which PAI says will give it at least 50.1% of the French builder's share capital and voting rights on a fully diluted basis. PAI plans to purchase from KB Home a 10,921,954-share stake in Kaufman & Broad at 55 euros (about $73.81) per share in cash after payment of a cash dividend by KBSA of 4.83 euros (about $6.49) is deducted. The deal is slated to close during KB Home's third fiscal quarter, subject to required approvals.

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