Wednesday, May 02, 2012

Las Vegas Real Estate News

Las Vegas Real Estate News

Link to Las Vegas Real Estate News

Sun City Summerlin Homes for Sale Rank Highest Among Retirees in 2012 According to LasVegasRealEstate.org

Posted: 02 Apr 2012 05:12 AM PDT

Sun City Las Vegas real estate may be the most affordable opportunity for retirees looking for the best places to retire in America. LasVegasRealEstate.org reports 84 sales to date in popular Las Vegas Sun City Summerlin community from just $72K. (PRWeb April 02, 2012) Read the full story at http://www.prweb.com/releases/2012/4/prweb9356649.htm

Gretna City Administrator fired, arrested

Posted: 02 May 2012 04:21 AM PDT

Sarpy County Sheriff Jeff Davis confirms his office is looking into the possible misuse of funds by the city of Gretna.

LAS VEGAS MONTHLY HOUSING REPORT INDEX (RPX) STRONG GAINS

Posted: 02 May 2012 02:55 AM PDT

Despite what the main street media is reporting, The RPX Monthly Housing Market Report says that both home sales and home prices increased strongly in the month ended February 16.  The RPX Composite Price which tracks home prices in 25 major metropolitan areas was up 1.9 percent over the previous month, a change which RPX called large relative to changes of the same period in recent years.  There was also a strong increase in home sale transactions in those metropolitan areas.

The RPX composite ended the period at $172.84 per square foot compared to $169.75 per square foot in January.  It is only fair to mention that January set the lowest price for the Composite since July 2002.  February's Composite price is still 3.18 percent lower than it was in February 2011.


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Since 1917 Realty - Jay Rosen,Broker 702-739-8820

LAS VEGAS REAL ESTATE ATTRACTING "BIG MONEY" INVESTORS. WILL YOU MISS THE OPPORTUNITY AGAIN?

Posted: 01 May 2012 09:20 PM PDT

- Hospitality company SBE of Los Angeles and real estate investment firm Stockbridge Capital Group of San Francisco announced Monday that they secured $300 million in new funding to convert the shuttered Sahara hotel into the SLS Las Vegas resort on the north end of the Strip.

J.P. Morgan Securities LLC raised the funds in less than two weeks for the redevelopment project, which is expected to open within two years.

"We see the northern end of the Strip as the future of Las Vegas, and we're pleased to be positioned at the forefront of that growth," SBE Founder, Chairman and CEO Sam Nazarian said. "Las Vegas has recovered steadily in the past year, and we're excited to be able to inject capital back into the local economy through the adaptive reuse of the famed Sahara."


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Since 1917 Realty - Jay Rosen,Broker 702-739-8820

Where can I go to get a realistic assessment of my ability to get approved for a home loan?

Posted: 01 May 2012 07:30 PM PDT

I am relocating to Las Vegas, and have a job lined up as a teacher. My husband does not yet have a job. We have quite a bit of student loan debt--his credit is decent, mine is fair at best. I doubt that I would be able to qualify for a mortgage, but I would like to be sure by looking into it. I am basically looking for something or someone that will look at my finances (all of the numbers) and tell me whether or not I will qualify, and how much I would qualify for if at all. I am not interested in going through an actual lender, I just want a general picture of whether it can happen or not. Any advice?

market of real estate in las vegas – <b>Las Vegas real estate</b> market <b>...</b>

Posted: 01 May 2012 04:20 PM PDT

August was the best quantity of profits ever in Las Vegas and the amount of properties that are upside down lowered six% since very last year meaning that.

Free Short Sale Seminar for Las Vegas Homeowners Who Want <b>...</b>

Posted: 01 May 2012 11:28 AM PDT

EVERYTHING YOU NEED TO KNOW ABOUT THE LAS VEGAS REAL ESTATE MARKET ... by admin • May 1, 2012 • Las Vegas Real Estate Press • 0 Comments. las vegas houses by skinnylawyer. Las Vegas, NV (PRWEB) February 12, 2012 ...

las vegas condos – Cimarron Hills Condo for sale SW Las Vegas <b>...</b>

Posted: 01 May 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 ...

$164500 – HUD Foreclosed – Las Vegas – Townhouse/Condo <b>...</b>

Posted: 01 May 2012 04:40 AM PDT

EVERYTHING YOU NEED TO KNOW ABOUT THE LAS VEGAS REAL ESTATE MARKET ... $164500 – HUD Foreclosed – Las Vegas – Townhouse/Condo. by admin • May 1, 2012 • Las Vegas Real Estate • 0 Comments · 4500 – HUD ...

Real Estate Investment Analysis: An Example “Deal” For You (And <b>...</b>

Posted: 01 May 2012 02:58 PM 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 ...

<b>Las Vegas Real Estate</b> Snapshot – April 2012 - Team Rossman

Posted: 01 May 2012 09:12 AM PDT

Las Vegas Real Estate Snapshot – April 2012. Posted on: May 1st, 2012 by Michael Rossman No Comments. (SFR) Single Family Residential Homes – Market Snapshot. On the first of every month we will post an updated Market Report.

<b>las vegas real estate</b> – <b>LAS VEGAS REAL ESTATE</b> UPDATE <b>...</b>

Posted: 28 Apr 2012 04:19 AM PDT

Las Vegas true estate agents and client advocates Kendall Trotter and Steve Hawks examine questionable transactions that new house builders were.

Five-Year High for Pending Home Sales - <b>Las Vegas Real Estate</b> <b>...</b>

Posted: 01 May 2012 05:21 AM PDT

With more than 1000000 members the National Association of Realtors® is the nation's largest trade association. It's no wonder that what it says carries a lot of weight.

What every real estate professional should do for 5 minutes a day!

Posted: 01 May 2012 04:28 PM PDT

Go to Postyourpropertieshere.com, where there are many great real estate features designed specifically to help you make more money in the great business of real estate. Here is what you will find:

#1) Our no-cost real estate listing feature, allowing you to advertise any type of real estate without having to pay a penny

#2) Networking: In just 10 months online we have many thousands of members. Use the Postyourpropertieshere.com website to network with others that want to do exactly what you do, grow your real estate business. This site is all about real estate networking and we encourage you to advertise your properties, services, and yourself every day!

#3) Our blog page is viewed over 2500 times a day during the work week

#4) The Realtor's Spotlight: This page is used to give one real estate broker or office a tremendous amount of exposure

#5) The Showcase Your Business feature is there for everyone on the site to promote your real estate business and yourself

#6) Groups: Postyourpropertieshere.com has over 160 different real estate and real estate funding groups designed to make networking the easiest part of your day

#7) Postyourpropertieshere.com is 100% real estate. Instead of wasting your day on expensive pay sites, sites that cater to dozens of different professions, or one of the thousands of tiny 300 member real estate sites that seem to pop up every day, you can now use a site that is growing faster than any other!

#8) NEW FEATURES: Next week we will begin a complete renovation of our real estate listing feature. We will be cleaning up any bugs in our system, improving our search and posting parameters, improving our photo upload process, and adding in over 30 countries to make Postyourpropertieshere.com a true international real estate network. Thats right, in early May, Postyourpropertieshere.com will become a 100% international real estate network!

Postyourpropertieshere.com is growing fast and we will always make improvements to help this website continue to serve the real estate business the best way we can. Our goal is to make this the best real estate website online for you, the real estate professional!

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LAS VEGAS REO REAL ESTATE FORECLOSURE PRICES ROSE 5.5%

Posted: 01 May 2012 04:17 PM PDT

OVER the last year,REO prices have increased 5.5 percent, while fair market prices dropped 2.9 percent. The real estate data provider explained that demand for REOs is most likely causing the increase in prices and named Carrington Holding Company, Amherst Securities Group, and Waypoint Financial as examples of investors purchasing single-family REOs with the purpose of converting them into rental properties.

"There has been quite a bit of buzz in the housing industry surrounding turning REOs into rentals. Our data suggests early activity from these programs could be starting to take effect, with national REO-only home price gains on a price per square foot basis vastly outpacing fair market prices on a national level," said Dr. Alex Villacorta, director of research and analytics at Clear Capital.


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LAS VEGAS FORECLOSURES WITH 10% DOWN FOR INVESTORS. <--Want More Info?


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Since 1917 Realty - Jay Rosen,Broker 702-739-8820

Can I refinance my home (in Las Vegas) if I am currently unemployed?

Posted: 01 May 2012 03:37 PM PDT

I purchased my home December 2009 at a higher interest rate due to not having enough credit at the time. Am I able t take advantage of the lower interest rates currently available even though I am currently unemployed? Are there any Legitimate government programs to help people such as me in financial hardship?

LAS VEGAS 264 UNIT APARTMENT COMPLEX PUBLIC AUCTION SALE - $ 16 287 PER DOOR / LAS VEGAS DISTRESSED MULTI FAMILY APARTMENT COMP

Posted: 01 May 2012 03:43 PM PDT

RANCHO VERDE APARTMENTS

  * SOLD PUBLIC AUCTION  4.5.12

 

  * FORECLOSING ENTITY RETAINED THE PROPERTY AT
     PUBLIC AUCTION FOR $ 4 300 000 - $ 16 287 PER DOOR

 

 

 

NO NOS FILED AS OF 6.30.11

BANKRUPTCY FILED 1.24.11

TRUSTEE DEED SALE SCHEDULED FOR 12.22.2010

NOS FILED 11.29.11

NOD 8.2010

264 UNITS
13.59 acres
built 1979

 

bought 6/2002  $ 8 300 000

loan amount  $ 8 329 332 

 

98 S Martin L King Blvd
Las Vegas, NV 89106

City of Las Vegas & Bank Officials Tout Program to Boost Homeownership

Posted: 01 May 2012 03:33 PM PDT

Las Vegas' housing market, among the worst in the nation, will get a boost from a new homeowner assistance program.  On Wednesday, officials from Wells Fargo bank and the city of Las Vegas announced that about $9 million will be available for people seeking to buy houses.

The bulk of the money, about $7.2 million, will be available for grants of up to $15,000 for prospective buyers to use as a down payment. An additional $1.15 million will go to the city for housing programs.  The money comes from the Wells Fargo Foundation, a charitable arm of Wells Fargo bank. Last year, the foundation invested $213.5 million in nonprofits nationwide.

The money announced Wednesday will go to Neighborhood Housing Services of Southern Nevada, which will evaluate people for eligibility.  The idea, according to bankers and city officials, is to help the local housing market recover from an epic real estate market crash that has sapped homeowners throughout Southern Nevada of their equity.

Las Vegas is one of four U.S. cities chosen for Wells Fargo's Neighborhood LIFT program, which aims to drive $1\u2007billion in housing investment nationwide within five years.  "There are some beautiful homes sitting vacant in desperate need of some new families," said Councilman Steve Ross, whose Ward 6 in northwest Las Vegas is among areas in the nation hardest hit by foreclosures and widespread depreciation.

City officials have been frustrated in recent years by the impact on neighborhoods of thousands of houses going unoccupied and untended and becoming a blight.  They have established a registry for foreclosed properties to keep tabs on houses and alert owners, often big banks or distant companies, before they fall into disrepair.  For the most part, officials are helpless to blunt the damage to neighborhoods caused by empty houses and falling or stagnant home values that dissuade investment.

According to SalesTraq, an Applied Analysis company, there have been nearly 5,000 foreclosures in Las Vegas in the 12 months ending in March.  The announcement of the new home-owner assistance program at Las Vegas City Hall was an attempt to attract attention to the program. Applications will be taken May 4-5 at the Riviera.

Under the rules of the program, people who make up to 120 percent of the area median annual income can qualify. That's about $79,200 for a family of four.  Other requirements are staying in the house for five years and being able to qualify for a mortgage with Wells Fargo or another lender.  Sandy Streator, regional sales manager for Wells Fargo Home Mortgages, said houses valued at up to $300,000 could be bought through the program, but houses owned by Wells Fargo aren't eligible.

Streator said the program is different from the infusion of capital into the housing market during the years leading up to the explosion of the housing bubble around 2008.  That is because lending requirements are tighter and banks are more cautious to ensure a mortgage is sustainable.  "A lot of people are afraid to get back into the market now," Streator said. "We are hoping this encourages people to go into homeownership again."

Wells Fargo officials estimate that at least 425 people can qualify for grants, which can be combined with other forms of assistance.  The city of Las Vegas Department of Economic and Urban Development offers down payment assistance with funding from the federal government.

Under that program, according to Tim Whitright of the city's Department of Neighborhood Services, people can qualify for up to $50,000 of assistance, although he said awards average about $20,000 to $25,000.

*This article originally appeared in the Las Vegas Review Journal

REO Prices Increase, Fair Market Prices Drop -Home Values Stabilizing

Posted: 01 May 2012 03:29 PM PDT

According to data from Clear Capital, over the last year, REO prices have increased 5.5 percent, while fair market prices dropped 2.9 percent. The real estate data provider explained that demand for REOs is most likely causing the increase in prices and named Carrington Holding Company, Amherst Securities Group, and Waypoint Financial as examples of investors purchasing single-family REOs with the purpose of converting them into rental properties.

"There has been quite a bit of buzz in the housing industry surrounding turning REOs into rentals. Our data suggests early activity from these programs could be starting to take effect, with national REO-only home price gains on a price per square foot basis vastly outpacing fair market prices on a national level," said Dr. Alex Villacorta, director of research and analytics at Clear Capital.

According to data from the Census Bureau, rental vacancy rates have also seen a steep decline, with the rate at 8.8 percent in the 2012 first quarter, a significant decline from the 2010 first quarter, when the vacancy rate was 10.6 percent.

Villacorta also added that if investor interest continues to expand the REO-to-rental programs over the next several months, this could lead to a significant impact on the market in terms of increasing home values.

REO saturation, or the portion of REO sales relative to total sales, increased on a quarterly basis in April for the third straight month. Nationally, REO saturation increased quarterly from 25.3 percent in December 2011 to 27.9 percent in April 2012.  The Midwest regions saw the greatest quarterly increase of REO saturation, increasing to 37.1 percent in April compared to 31.1 percent in December.

In the West, REO saturation increased from 31 percent to 33.3 percent during the same quarterly period, and in the South, saturation increased from 24.2 percent to 25.3 percent. In the Northeast, REO saturation remained low compared to other regions; the region posted a quarterly increase from 8.4 percent to 10.2 percent.

Presenting further evidence that the housing market may be stabilizing, Clear Capital released its Home Data Index (HDI), which showed that overall, home prices fell 0.2 percent on a quarterly basis, and 1 percent year-over-year.  The data gathered was good through April 2012, and the HDI includes both fair market and REO transactions.

Based on regions, the Midwest was the only one that posted quarter-over-quarter losses, declining 2.7 percent. The West (+0.5 percent), Northeast (+0.2 percent), and South (+0.6 percent) all posted small quarterly gains. Year-over-year, all regions posted loses except for the Northeast, which saw a 0.7 percent increase.

Compared to the March 2012 report, the West and South posted improvements, decreasing their year-over-year losses by 1.4 and 0.3 percentage points, respectively.  The Midwest was the only region not following the positive trend and posted a yearly loss of 0.2 percent compared to the previous month's report.

As for metro areas, hard hit market Phoenix posted the greatest quarterly price gains and yearly increases at 8.4 and 12.5 percent, respectively.  Miami posted the second highest quarter-over-quarter increase at 4.6 percent, closely followed by Tampa (+4.4 percent); Richmond, Virginia (+4.4 percent); and Washington, D.C. (3.6 percent).  On a yearly basis, Orlando posted a 9.8 percent increase, while Miami saw a 9.1 percent gain.

Milwaukee saw the greatest quarterly drop in prices, decreasing 12.5 percent. Columbus had the second greatest quarterly drop at -7.5 percent, followed by Birmingham, Alabama (-6.1 percent), Memphis (-5.4 percent), and Detroit (-4.2 percent).  Year-over-year, prices in Birmingham, Alabama fell 13 percent, Memphis 11.4 percent, Milwaukee 9.4 percent, Philadelphia 8.3 percent, and Columbia 6.2 percent.

*This article originally appeared in DSNEWS

Realtor - Agente de Bienes Raices

Posted: 01 May 2012 02:12 PM PDT


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