January 2010

There are 3 blog entries for January 2010.

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

Thursday, January 28th, 2010 at 3:08am. 1274 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. 1656 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. 2505 Views, 0 Comments.

Will New National Testing

Clean up the Lending Industry?

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

bait_for_lending_www.lasvegasrealestatehome.com_310Anybody 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…