Las Vegas Homes Needed 01/13/2012

Friday, January 13th, 2012 at 10:33pm. 155 Views, 0 Comments.

Buyers looking for Las Vegas Homes ending 01/13/2012

Searching around this week for my buyer clients and I'm starting to have flashbacks of late 2003 when the inventory of great Las Vegas Homes was starting to dwindle. Some more Government changes for the Las Vegas real estate market is having an impact on what is available to purchase.

So... to start up something that I used to do in 2003 and 2004, I'm just going to list some specifics of what we are looking for Right Now. If you are a Las Vegas home seller that has their home listed for sale, feel free to advertise it in the comments section if it's listed and for whatever reason we can't find it. For Las Vegas home owners that are considering selling, please contact me with the specifics. Need to short…

Las Vegas Home Sales Break Record for 2011

Tuesday, January 10th, 2012 at 4:50pm. 135 Views, 0 Comments.

Las Vegas Home Sales Break Record in 2011

Flying in the face of the perceptions that the Las Vegas real estate market is dismal and in despair, a record number of resale homes sold in Las Vegas for 2011.

Read the Article Here.

Sure... prices have plummeted from the peak of the bubble but there is no shortage of buyers wanting to buy. In fact... I would bet that the numbers would have been even higher if Las Vegas short sales were going through faster. Inventory of Las Vegas Homes for sale is going down - according to the article, only 8,831 single family homes are available on the Las Vegas Multiple Listing Service for sale. Keep in mind this number includes homes in bedroom communities such as Mesquite, Pahrump, Boulder City and Laughlin. In other words, the…

New Las Vegas Foreclosure Ordinance may end up getting Las Vegas sued

Thursday, December 29th, 2011 at 1:49am. 183 Views, 0 Comments.

New Las Vegas City Ordinance Stricter then the Chicago "Code"?

Read about the new Las Vegas City Ordinance HERE concerning Vacant Las Vegas homes in foreclosure. When I first heard about this, my thought was that it was one of those new ordinances where you know the intentions mean well but it was poorly thought out.

For Las Vegas homeowners that just stop making their mortgage payments and walk away, there is a process that must be followed in order for the lender to legally take Title (ownership) to the home. During this proces, more often then not the abandoned home where homeowners just walk away and don't even attempt a Las Vegas short sale gets run down, broken into and creates blight for the neighborhood. One of our big pet peeves, especially when we…

Is Bank of America going to start foreclosing on Nevada Homes through the Judicial Process?

Thursday, December 29th, 2011 at 1:07am. 244 Views, 0 Comments.

Is Bank of America Going to the Judicial Process to foreclose on Homes in Nevada?

I went to a Foreclosure Mediation last week with some clients to sit down with Bank of America to have it agreed upon for a short sale approval up front with a set price in order to avoid the wait around time to have a short sale approved once we have a buyer. The vast majority of Las Vegas short sales are cancelled by buyers because of waiting around for so long for the sellers lender to appove the short sale so I do whatever possible to get the price that a lender wants right up front. For example, this Las Vegas short sale I have for sale has an approved price of $130,000 and the lender has already stated that the sellers qualify for a quick answer / approval once we have a…

Las Vegas Short Sales May Rise?

Wednesday, December 28th, 2011 at 9:45pm. 236 Views, 0 Comments.

Las Vegas Short Sales May Rise in 2012?

Interesting article in the Las Vegas Review Journal with predictions concerning the Las Vegas Real Estate market for 2012 that you can read here with opinions all over the place.

These are just opinions so take them for what they are worth since it's pretty difficult to tell with absolute certainty exactly what's going to transpire since the new Nevada Law was passed back in October changing up the foreclosure process.

Too early to tell and this is going to be a pretty long post explaining out a lot more then what is given in the newspaper article so bear with it. By the end of this post, you'll see the opinion I'm going to somewhat lean towards after explaining it all out and taking a look at what happened in other…

Las Vegas Homeowners --- Who Really Owns your Loan?

Thursday, November 24th, 2011 at 7:39pm. 277 Views, 0 Comments.

Who Really Owns Your Home Loan?

I was recently reminded of just how confusing this was when a client of mine who works for a big bank asked what I meant when I updated him to let him know that the final Short Sale Aproval was submitted for a "final" approval by the investor that actually owns the loan.

This whole time he thought it was up to "Big Bank" to approve the short sale... So it threw him off a little when I had to explain that "Big Bank" was just a loan servicer and the entity that actually owned the loan was Fannie Mae.

He's been sending his payments into "Big Bank" but this whole time... that big bank was just "servicing" the loan.

Think of it like you are renting a home managed by a Professional Property Management company. You make the rent…

New Nevada Law Puts Brakes on Foreclosure Notices Filed in Las Vegas

Thursday, November 17th, 2011 at 10:43am. 328 Views, 2 Comments.

Effects of Assembly Bill 284 Now Evident

Well... it's been over a month since AB 284 went into effect and the numbers are out. Check out the updated chart showing the big drop in Notices of Defaults filed in Las Vegas for October of 2011. 

What is AB 284?

The simplest article I've read explaining it can be found here.

Besides the basic new requirements, take note of the following statement:

"Failure to comply is subject to a civil penalty, and the penalty to make false representations concerning property title was increased from a gross misdemeanor to a category C felony."

That should certainly make Robo Signers think twice such as the ones that were recently indicted in Nevada for 606 counts of Robo Signing.

What does it mean for the big picture for Las Vegas…

Las Vegas Short Sales Report for September, 2011

Tuesday, October 11th, 2011 at 5:19pm. 432 Views, 1 Comments.

Las Vegas Short Sales Closed

Las Vegas Short Sales Closing Escrow in the month of September on the Las Vegas MLS for areas 101 through 606 which includes North Las Vegas, Las Vegas and Henderson were reported at 1,005 closings.

Broken Down by Category:

Notice of Defaults in Las Vegas jump over 43% in August of 2011

Wednesday, September 14th, 2011 at 7:56am. 471 Views, 1 Comments.

Notice of Defaults in Las Vegas Jump 43.45% in August compared to July of 2011

According to ForeclosureRadar, the number of Notice of Defaults filed in Las Vegas took a sudden jump to 3,589 Notice of Defaults filed compared to 2,502 Notices of Defaults filed in July of 2011 but was a 13.83% decline compared to August of 2010 when 4,165 Notices of Defaults were filed.

In Nevada, the Notice of Default is the first step in the legal process for the lender to take real estate back. (Plenty of time for Las Vegas homeowners to pursue a Las Vegas short sale.)

Notice of Trustee Sale Notifications Decline 44.42% in August of 2011 compared to August of 2010

The next step of the Foreclosure process in Nevada, the Notice of Trustee Sale,…

Summerlin Real Estate in Zip Code 89135 March 2011 Sales Stats

Monday, April 4th, 2011 at 4:55am. 1266 Views, 0 Comments.

Summerlin Real Estate 89135 Sales Stats 03/2011

Homes in Las Vegas area Zip code 89135 located in Summerlin South Las Vegas - One of the most desirable areas of Las Vegas showed Sales Numbers in March of 2011 with a reported 58 resales ranging in price from a high of $4,000,000 for a Luxury Estate in The Ridges, to a low sales price of $112,500 for a condominium located in Garden View Terrace.

*Sales Statistics are reported from the Las Vegas Multiple Listing Service and does not include all New Home Sales or For Sale By Owner. Information deemed reliable but not guaranteed.

***Las Vegas Real Estate 89135 Homes for Sale

Home Sales in 89135 for March of 2011

Summerlin 89135 Home Sales = 58

• This equals the amount of home sales for this zip code in March of 2010…