🌱 Home Prices Decline + Sports Betting Ponzi Scheme

Hello again, neighbors! I'm back with your fresh copy of the Las Vegas Daily. Let's get this weekend started off right, with a quick dive into the most important things happening in town these days.

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First, today's weather:

A thunderstorm in the p.m. High: 96 Low: 81.

Here are the top three stories in Las Vegas today:

1. Las Vegas area home prices have decreased for the second month in a row. The decline was noted in a report that was released by Las Vegas Realtors on Tuesday. Fewer homes are selling and more homes are available in the Las Vegas real estate market. The median home price is now at $465,000 - a 3.1 percent decrease from June. (Las Vegas Review-Journal)
2. A Las Vegas man has been charged with allegedly running a sports betting Ponzi scheme. Matthew Turnipseede, 49, was indicted on multiple counts of wire fraud and mail fraud. About 72 investors were defrauded during the scheme. Turnipseede apparently spent over $8.5 million to prop up his businesses, compensate previous investors, and pay for personal expenses. (Fox 5 Las Vegas)
3. Las Vegas was once again hit with flood waters on Thursday night. The city was still recovering from the flooding that occurred two weeks ago when the rain began falling on Thursday. Videos were posted to social media of flood waters pouring into casinos and parking garages. (NBC News)

Today in Las Vegas:

• Music & Movement At The Sahara West Library (11:00 AM)
• The Olivia Show At The Summerlin Library (2:30 PM)
• Between the Covers Book Club At The Sunrise Library (3:00 PM)
• Saliva and Theory of a Deadman At 3rd Street Stage (8:00 PM)

From my notebook:

• Patch has compiled a list of adoption-ready pets in the Las Vegas area that are searching for a forever home. Click to view the complete list. (Las Vegas Patch)
• Do you have a favorite breakfast location in Las Vegas? Here is a list of some of the best breakfast spots in Sin City. (Lasvegasmagazine)
• The City of Las Vegas reports that .58 inches of rain fell on Thursday night. Monsoon season has brought a record 1.28 inches of rain this year. (City of Las Vegas Government via Facebook)

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Events:

• Taxes in Retirement Seminar (August 16)
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That's it for today! I'll be in your inbox tomorrow morning with a new update.

— Miranda Fraraccio

About me: Miranda Fraraccio is a born and raised Rhode Islander, now living in New York. She works as a staff writer for content creation agency Lightning Media Partners and is a graduate of The University of Rhode Island, where she earned a degree in Writing & Rhetoric and Communication Studies. In her free time, you can find her traveling, drinking tea, or photographing her neighborhood as a street photographer.