Summerlin Home for Lease - Pool / Spa, Hardwood Floors

Friday, March 5th, 2010 at 8:54pm. 50 Views, 0 Comments.

Summerlin Home for Lease:

Just wanted to highlight a Summerlin Home that has just been put up for lease. Over 3,100 square feet located near Summerlin Hospital, Parks and many of the other amenities that make Summerlin a great place to live.

Featuring a sparkling Pool/Spa, True Hardwood floors, Three car garage, Plantation Shutters, Built in BBQ, Covered Patio and a huge Master Bedroom downstairs. Pictures speak for themselves and you can view them here --> Summerlin Home for Lease

Only asking $2,500 a month which includes weekly pool service. For more information and to schedule a personal viewing... Call Paul Francis @ 702.592.3058.

Paul Francis, CRS
Prudential Americana Group - Realtors®
Summerlin Real Estate
702.592.3058 

School Information:

• John W. Bonner…

Las Vegas Short Sales dominate Inventory Report for February of 2010

Thursday, February 4th, 2010 at 8:15pm. 97 Views, 0 Comments.

Las Vegas Inventory Report

Short Sales in Contingent Status Dominate Inventory

I just updated a client searching for properties on their own that keeps sending some really nice properties for more information with the news that the properties are currently in a "Contingent" status. All of them were short sales in a contingent status just waiting for a Lenders Approval of the short sale.

Due to the uncertainty of what the lien holder is going to come back with for an approval, properties with a signed contract between the seller and a buyer are put into a "Contingent" status subject to lenders approval. Unlike other contingencies... this is something the buyers and sellers have to rely on a third party since the price and terms of the final sale have to be…

Las Vegas Short Sales making Mainstream Media

Monday, February 1st, 2010 at 1:58am. 89 Views, 0 Comments.

Las Vegas Short Sales in the News

There has been a recent trend of the local media covering Las Vegas short sales in the news more often which is a wonderful thing in educating Las Vegas homeowners facing financial difficulties that they do have better options then just walking away and abandoning their homes.

There is nothing to be embarassed about when doing the right thing.

However... remember that a lot of the analysts being intereviewed in these news articles have never even listed and sold a short sale. There is a big difference between talking to a agent that actually does short sales then taking advice from analysts hearing about us doing them.

I've been catching some of these articles with some statements that probably need a little more…

Las Vegas Real Estate Undervalued by 41% According to New Report

Thursday, January 28th, 2010 at 3:08am. 168 Views, 0 Comments.

Las Vegas Real Estate Undervalued?

According to a new 2010 report compiled by IHS Global Insight and PNC Financial Services. The recent report was mentioned by CNNMoney.com that you can read by clicking on the following Link:

Housing Markets Now Well Undervalued

"The most undervalued market is Las Vegas, where homes sell for 41.4% below fair market, followed by Vero Beach, Fla. (-39.8%), Merced, Calif. (-37.7%), and Cape Coral, Fla. (-36.8%)."

Credibility Matters so who is IHS Global Insight & PNC Financial Services? The same companies that ranked Las Vegas as 38% Overvalued back in January of 2006 that you can read by Clicking Here.

Certainly some credibility when some of the so called real estate "experts" were claiming there was no bubble in Las Vegas at the…

HUD temporarily lifts 90 Day Flip Rule

Friday, January 15th, 2010 at 10:05pm. 212 Views, 0 Comments.

BREAKING NEWS from the U.S. Department of Housing and Urban Development (HUD)

For those of you recently searching around for Las Vegas Homes For Sale.. you may have noticed an increase in the number of homes available for sale that are not Short Sales or Bank Owned Homes that are flips.

These properties have been popping up being offered for sale by Cash Rich Investors that have purchased Bank properties at the Trustee Sales or various other means such as bulk deals. Throw some lipstick on them and put them right back up for sale for a nice little profit.

No dealing with a bank for an answer... Great, Right??

Well... Great until you see the 90 day flip rule disclosure and no FHA loan buyers accepted. Great if you are a cash buyer or know of one of the few…

Will new Nevada Lending Requirements and National Testing for Loan Officers help clean up the Industry?

Sunday, January 3rd, 2010 at 11:42am. 329 Views, 0 Comments.

Will New National Testing

Clean up the Lending Industry?

"Must be Pre-Approved with such and such Lender... "

Anybody going through the frustrations of attempting to purchase a Bank Owned Home in Las Vegas certainly knows all about this requirement.  A recent call from a prospective buyer frustrated with trying to buy a home in Las Vegas had three pre-approvals from different lenders... an obvious sign to me that they had unsuccessfully been chasing bank owned homes.

While the process of getting pre-approved with the REO Agents desired lender is certainly a nuance to me since I have my favorite long time loan officer who works for a local mortgage company and does what they say they are going to do, I certainly can understand the requirement since I've run…

CityCenter to offer Financing for New Condominium Units

Wednesday, December 9th, 2009 at 3:52pm. 228 Views, 0 Comments.

Financing Uncertainties for CityCenter clearing up

Difficulties of obtaining financing for other Las Vegas High Rise Condominiums creates opportunity for developers of City Center Las Vegas to sell more units.

LAS VEGAS (AP) — Developers of the $8.5 billion CityCenter casino complex say they will offer seller financing to buyers of condominium and condo-hotel units at the development on the Las Vegas Strip.

CityCenter says lending firm Private National Mortgage Acceptance Company LLC, also known as PennyMac, will administer the financing program and also could lend to buyers.

The program comes after CityCenter owners MGM Mirage and Dubai World said they would reduce prices by 30 percent on the 2,440 units to help buyers close.

The units are spread across four…

Las Vegas Bank Owned Homes Report - Over 70% of all Las Vegas Sales YTD are Bank Owned Properties

Sunday, November 1st, 2009 at 11:42am. 440 Views, 0 Comments.

Las Vegas Bank Owned Homes for sale Report

Our latest check for Las Vegas Bank Owned Properties for Sale on the Las Vegas Multiple Listing Service (MLS) has shown a pretty significant drop from the beginning of 2009.

• 01/20/2009 = 7,750 Bank Owned Properties for sale
• 10/31/2009 = 2,037 Bank Owned Properties for Sale

Las Vegas Bank Owned Homes for Sale Report since 05/14/2007

A pretty significant drop of what there is to choose from out there.

Total Closings Year to Date:

• 38,058 - All Closings year to date on the Las Vegas MLS.
• 28,320 - Bank Owned Properties that have sold YTD on the Las Vegas MLS

These are all properties for areas 101 through 606 and includes the following types of properties: Single Family Homes, Condominiums, Townhomes, Manufactured Homes and…

Las Vegas Short Sales Update

Wednesday, October 21st, 2009 at 2:27pm. 314 Views, 1 Comments.

Las Vegas Short Sales - Closings Increase

• September Las Vegas Short Sale Closings Jump over August Closings
• Lenders Still need to Improve their Short Sale Departments to streamline the process

For Areas 101-606 on the Las Vegas MLS which includes North Las Vegas, Summerlin Real Estate and Henderson Homes, the number of short sales approved and closed continued a month to month increase in closings.

Las Vegas Short Sales Closed for August of 2009:

• 492 Las Vegas area short sales successfully closed and kept from becoming Bank Owned Homes.

Prices ranged from a $27,500 Las Vegas condominium to a $1,250,000 Luxury Home sold by Prudential Americana Group - Realtors®.

Las Vegas Area Short Sales Closed for September of 2009:

• 592 Las Vegas area Short Sales closed…

Las Vegas Real Estate Activity Report

Saturday, April 25th, 2009 at 10:46pm. 694 Views, 1 Comments.

Las Vegas Homes in Contract

Buyers activity Surges for Las Vegas real estate.

As of today, there are currently 10,761 Las Vegas Homes that are either Contingent or Pending in the Las Vegas MLS for areas 101-606 which includes Henderson Homes, North Las Vegas Homes and Summerlin Real Estate. These numbers are suggesting the strong demand for Las Vegas real estate at current values which could be a very strong signal that Las Vegas Home Values may be finally ending the free fall in prices.

Type of Las Vegas Homes currently in contract:

• 8992 Single Family Homes
• 1230 Condominiums
• 520 Townhomes
• 19 Manufactured Homes

No surprise that single family homes lead the way in future sales.

Las Vegas Homes classifications:

• 6066 of these are Bank Owned AKA Las Vegas REO Homes.
• 3654…