Friday, March 23, 2012

Las Vegas Real Estate News

Las Vegas Real Estate News

Link to Las Vegas Real Estate News

buy property in las vegas – Rita Alleyne Las Vegas, NV. Realtor <b>...</b>

Posted: 23 Mar 2012 04:19 AM PDT

Home · Las Vegas Real Estate · Las Vegas Real Estate Articles · Las Vegas Real Estate Media · Las Vegas Real Estate Videos · Las Vegas Real Estate Press · Las Vegas Real Estate News · Las Vegas Real Estate Q&A ...

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Posted: 23 Mar 2012 01:29 AM PDT

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Should a Realtor think about getting real estate leads? We suggest <b>...</b>

Posted: 23 Mar 2012 04:19 AM PDT

Customer will start the process by looking the net for "Las Vegas Real Estate" or "Las Vegas Properties". The first paid placements on google for these keywords would run at about $6 per click. A realtor has a possiblity to ...

Summerlin (Las Vegas NV) Market Report

Posted: 23 Mar 2012 05:05 AM PDT

Summerlin Homes For Sale

Summerlin Homes for Sale

Summerlin Real Estate Market Report and Absorption Rate


Summerlin February 2012 Real Estate Resale Market Report:

  • Listings (3/15/2012): 468
  • Under Contract (3/15/2012): 697
  • Sold February 2012: 182

Since Last Month's Report:

  • Listings DOWN -26
  • Pendings UP +64
  • Sold Units UP +22

For Current and Past Summerlin Market Reports

View Summerlin Homes For Sale Here (Updated Daily)

More Information on Summerlin Real Estate Here (Includes Video & Map)

More Las Vegas Communities Here

Ahwatukee Homes For Sale - Best Ahwatukee Foothills Club West <b>...</b>

Posted: 22 Mar 2012 10:50 PM PDT

Filed Under: Ahwatukee Foothills Club West Homes For Sale, Blog Tagged With: ahwatukee, Ahwatukee Foothillls Cub West, ahwatukee homes for sale, allen henderson, arizona, henderson real estate, phoenix, the ...

Can anyone recomend a hard money lender.?

Posted: 22 Mar 2012 11:33 PM PDT

I'm Looking for a hard money lender in the Las Vegas area can any one recomd someone they may have worked with . Thank you Helene M Moore helenem@windermere.com

Foreclosure Versus Short sales

Posted: 22 Mar 2012 11:43 PM PDT


SUCCESSFUL SHORT SALES

Future Fannie Mae Loan - Primary Residence

A homeowner who loses a home to foreclosure is ineligible for a Fannie Mae-backed mortgage for a period of 5 years

A homeowner who successfully negotiates and closes a short sale will be eligible for a Fannie Mae-backed mortgage after 2 years

Future Fannie Mae Loan - Non-Primary Residence

An investor who allows a property to go to foreclosure is ineligible for a Fannie Mae-backed investment mortgage for a period of 7 years

An investor who successfully negotiates and closes a short sale will be eligible for a Fannie Mae-backed investment mortgage after 2 years

Credit Score

Score may be lowered anywhere from 250 to more than 300 points. Typically will affect a credit score for over 3 years

Late payments on mortgage will show, and after sale, mortgage is normally reported as "paid as agreed", "paid as negotiated" or "settled." This can lower the score as little as 50 points if all other payments are being made. A short sale's effect can be as brief as 12 to 18 months.

Credit History

Foreclosure will remain as a public record permanently, and on a person's credit history for 10 years or more

A short sale is not reported on a credit history. There is no specific reporting item for "short "sale." The loan is typically reported "paid in full, settled."

Security Clearance

Foreclosure is the most challenging issue against a security clearance outside a serious misdemeanor or felony conviction. If a client has a foreclosure and is a police officer, in the military, in the CIA, security or any other position that requires a security clearance, in almost all cases clearance will be revoked and position will be terminated.

On its own, a short sale does not challenge most security clearances

Current Employment

Employers have the right and are actively checking the credit of all employees who are in sensitive positions. In many cases, a foreclosure is reason for immediate reassignment or termination

A short sale is not reported on a credit report and is therefore not a challenge to employment

Future Employment

Many employers are requiring credit checks on all job applicants. A foreclosure is one of the most detrimental credit items an applicant can have (besides bankruptcy/charge off) and in most cases will challenge employment

A short sale is not reported on a credit report and is therefore not a challenge to future employment

Deficiency Judgment

In 100% of foreclosures (except in those non-deficiency judgment states), the bank has the right to pursue a deficiency judgment

In some successful short sales, it is possible to convince the lender to sign a release and give up their right to pursue a deficiency judgment against the homeowner

Deficiency Judgment (amount)

In a foreclosure, the home will have to go through an REO process if it does not sell at auction. In most cases this will result in a lower sales price and longer time to sale in a declining market. This will result in a higher possible deficiency judgment

In a properly managed short sale, the home is sold at a price that should be close to market value, and in almost all cases will be better than an REO sale resulting in a lower deficiency

Deficiency Judgment (statute of limitations)

In a foreclosure, the first mortgage holder has 6 months to file for a deficiency judgment (the second mortgage holder has 6 years).

If the mortgage holder does not release their right to pursue a deficiency judgment they have up to 6 years to file and seek a deficiency judgment.

Helene M Moore
Windermere Prestige Properties
www.MooreVegasHouses.com
helenem@windermere.com

Why December may be the Best Time For Getting Real Estate

Posted: 22 Mar 2012 05:25 PM PDT

Nevertheless, as is the case with any real estate investment, you must evaluate your possibilities cautiously just before you in fact go for Las Vegas real estate investment. In case you are full time into real estate investment enterprise in and ...

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Posted: 22 Mar 2012 06:01 PM PDT

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Do houses with fireplaces in hotter summer climates have a cooling effect meaning suck the hot air out the house?

Posted: 22 Mar 2012 07:56 PM PDT

colder climates the fireplaces suck the hot air out and rob you of the warmth

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Posted: 22 Mar 2012 04:02 PM PDT

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Posted: 22 Mar 2012 04:19 PM PDT

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Posted: 22 Mar 2012 06:00 PM PDT

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Posted: 05 Oct 2011 09:18 AM PDT

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Posted: 22 Mar 2012 07:19 AM PDT

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LAS VEGAS INVENTORY is Shifting and Dropping - tick tock

Posted: 22 Mar 2012 04:26 PM PDT

SnapShot of the current market in Las Vegas today.... 
[What a buyer can expect]  

UpDated:  March 21st, 2012

~Banks/sellers are selling at the Fair Market Value [FMV] of today....FMV is a discount of 50-60-70% off original sold pricing of 2002, 2003, 2004, 2005, 2006.

~Also the banks/sellers are absorbing the loss on the huge deficiency on the defaulted mortgage for the winning buyer. 

~The banks/sellers are also delivering clear and marketable title; whereas they are paying for all delinquencies with penalties & interest [water, gas, electric, sewer, property taxes, hoa fees, etc.] and liens on title that have been left by the previous defaulting owner for the buyer. 

~The banks/sellers are also paying for the Title Commitment insuring that they are delivering clear and marketable title for the buyer.

~The banks/sellers are also paying for Realtor fees.  [This is approximately 4-6% of a sales price for both Seller and Buyer agent share]

~The banks/sellers are paying for their own closing costs.  No buyer contributions are requested by the banks.

~The banks/sellers are selling properties in "As is" condition; whereas no repairs are made.

~The banks/sellers are paying for the Home Owner's Association Resale Package.

~There are bidding wars and multiple offer situations on properties.

~Inventory is consistantly on the decline.

~TODAY 03/21/12 Inventory: 

 6959 Total MLS Listings 100%
 2757 Shortsales 39%
 1043 Foreclosures 16%
 3159 Straight Sales 45%

~In essence, buyer may expect an unprecedented great deal in one of the most exciting cities on this planet today!   Fabulous Las Vegas!!

 Julia St. Marie, RRG, ABR, RSPS
Phone:  702-355-H-O-M-E (4663)
Fax: 702-791-1094
Email:  LVRealEstateLady@yahoo.com 
View Detached Homes:  http://www.LVRealEstateLady.com
View Condos
http://www.LasVegasCondoHeaven.com

 

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Posted: 29 Feb 2012 07:24 AM PST

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CALL STEVE HARLESS - 702-217-1680 FOR THIS Cozy single story home in Southern Highlands

Posted: 18 Mar 2012 05:47 PM PDT

Out of town investors and locals alike will love this gated community * this home was Sold on 03/01/05 for $1,093,100 - As a buyers agent, I like to share values like this with my customers....give me a call at 702-217-1680 if I can be of service to you

Feel Free To Visit www.ViewLasVegasRealEstate.com To View Pics & Take Virtual Tours 

Header
Stunning Souterhn Highlands Mini Mansion W/ Pool
352004
1
S5145 Villa Vasari Ave, Southern Highlands, Las Vegas, NV 89141
http://www.ViewLasVegasRealEstate.com
Remarks
This is a MUST SEE two story home in Southern Highlands! Features cozy family room with fireplace! Living room with vaulted ceiling! Huge Master bedroom upstairs with a two way fireplace and balcony! Large master bath with soaking tub and his/her sinks! Quaint casita in the backyard with a pool and spa! There's a bath for each bedroom! Finished four car garage! Amazing deal! Make an offer today! Interested In This Home? - Call 702-217-1680 direct for a showing* I work with motivated, pre-qualified buyers Need financing? We Can Help!
Price :$ 414,500
Type :Single Family
Beds :5
Baths :5 Baths (4 F, 1 ¾)
Size :4,387 ft²
Lot :16,117 ft²
MLS :1236394 Baths: 4 / 0 / 1



Contact Information
Steve Harless
Steve Harless
(702) 217-1680
www.ViewLasVegasRealEstate.com
Haines & Krieger Realty
Haines & Krieger Realty
8985 South Eastern Avenue #180
Las Vegas, NV 89123
702.217.1680
©Properties Online, LLC, Patent No. US 6,760,707. The above information including square footage is based on data received from the seller and/or from public sources. This information is deemed reliable but has not been independently verified and cannot be guaranteed. Prospective buyers are advised to verify information to their own satisfaction prior to purchase. Tradenames and Trademarks referred to within are the property of their respective trademark holders. None of these trademark holders are affiliated with Properties Online, LLC, our products, or our website nor are we sponsored by them.

Equal Opportunity Housing

Weekly Market Report • Las Vegas, NV 89144 • Single Family Residences • Mar 12-Mar 18, 2012

Posted: 22 Mar 2012 01:27 PM PDT

For the period of March 12 through March 18, the median list price in Las Vegas, NV 89144 is $274,500—up 1.5% from last week.

Inventory is tighening up lately and days-on-market is falling. The Market Action Index shows demand heating up. These are relatively bullish signs for prices.

Click to enlarge the full report:


LAS VEGAS FORECLOSURE HOMES SELL 20% LESS THAN SHORT SALE

Posted: 22 Mar 2012 11:38 AM PDT



THE state with the highest number of foreclosure sales was Nevada, where foreclosure sales accounted for 65 percent of all sales. Arizona followed with  foreclosure sales accounting for 57 percent of all home sales for the quarter. 

Foreclosures Continue to Weigh on Home Prices

Foreclosed homes continue to sell for less than other homes. During the spring, bank-owned homes sold for 40 percent less than the average price of other homes. Sales of homes in the foreclosure process or short sales sold for 21 percent less than the average home sold. 

http://realtormag.realtor.org/daily-news/2011/08/25/foreclosures-sell-for-up-40-less 




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