July 2010

There are 8 blog entries for July 2010.

Foreclosures Climb in 75% of Metro Areas

Saturday, July 31st, 2010 at 9:57am. 679 Views, 0 Comments.

Real Estate Hangover

Interesting Article in CNNMoney.com going over the latest results from RealtyTrac.com tracking foreclosures Nationwide:

Foreclosures Climb in 75% of Metro Areas Via CnnMoney.com

By Les Christie, staff writerJuly 29, 2010: 3:32 AM ET

NEW YORK (CNNMoney.com) -- Foreclosure filings climbed in 75% of the nation's metro areas during the first half of 2010, according to a report issued Thursday.

RealtyTrac, an online marketer of foreclosed homes, said that California, Florida, Arizona and Nevada continue to lead the nation in the rate of foreclosures. Las Vegas was the worst-hit city.

Pay Attention to the Interview with Meredith Whitney Predicting a Double Dip in Housing:

Key Phrases:

  • Unemployment driving today's foreclosures. 
  • Banks Releasing…


Rhodes Ranch Real Estate - Rhodes Ranch in Southwest Las Vegas

Friday, July 30th, 2010 at 6:24am. 970 Views, 0 Comments.

Rhodes Ranch Homes Sales Report

Rhodes Ranch Real Estate www.LasVegasRealEstateHome.comPLEASE NOTE: This report is for Rhodes Ranch Homes located within the Guard Gated Golf Course Community of Rhodes Ranch. I personally do not consider subdivisions surrounding Rhodes Ranch and outside of the Guard Gates as part of "Rhodes Ranch" since they have their own associations and do not fall under a main association.

My reasoning for this is that True Master Planned Communities in Las Vegas, Henderson and North Las Vegas will fall under a "Master" association. (Summerlin, Green Valley Ranch, Seven Hills, Lake Las Vegas and Aliante are excellent examples of this.) All subdivisions outside of the guard gates of Rhodes Ranch have their own Homeowner Associations managed by different companies and different covenants,…


Las Vegas Area Bank Owned Homes and Bank Owned Condominiums For Sale Trending Up

Thursday, July 29th, 2010 at 12:30pm. 895 Views, 2 Comments.

Las Vegas Area Bank Owned Properties Inventory Going Back Up

Las Vegas Bank Owned Homes for SaleJuly 29 Inventory Report for Bank Owned Properties Shows Increase in Availability

Now that the First Time Homebuyers Tax Credit has expired and some certain Loan Servicers have gotten serious about Foreclosing on Las Vegas Home Owners, it appears that the inventory of Las Vegas Bank Owned Homes is trending back up in comparison to an Las Vegas REO Inventory Report Provided on April 14th, 2010.

Currently Listed as Bank Owned Homes available on the Las Vegas Multiple Listing Service:

07/29/2010 - 2,741 Las Vegas Bank Owned Homes for Sale. Includes Henderson Nevada Bank Owned Homes and North Las Vegas REO properties. Broken down by Property Type:

  • 1,976 Single Family Homes
  • 450 Condominiums
  • 203 Townhomes
  • 74…


Las Vegas Homeowners Who Strategically Default About to See Stiff Penalties

Wednesday, July 28th, 2010 at 7:12am. 1794 Views, 0 Comments.

Las Vegas Home Owners who Strategically Default about to see Stiff Penalties

Fannie Mae, the largest Guarantor of Home Loans in the Country, recently announced some new changes for homeowners eligibility to receive a home loan beginning on 10/01/2010 that you can read here:

Fannie Mae Increases Penalties for Homeowners who Walk Away

WASHINGTON, DC — Fannie Mae (FNM/NYSE) announced today policy changes designed to encourage borrowers to work with their servicers and pursue alternatives to foreclosure. Defaulting borrowers who walk-away and had the capacity to pay or did not complete a workout alternative in good faith will be ineligible for a new Fannie Mae-backed mortgage loan for a period of seven years from the date of foreclosure. Borrowers who have…


Aliante Townhomes - Courts at Aliante Sales

Wednesday, July 28th, 2010 at 2:23am. 1337 Views, 0 Comments.

Aliante Townhomes - Courts at Aliante

Aliante Townhomes - Courts at Aliante www.LasVegasRealEstateHome.comThe Courts at Aliante is a gated community of townhomes built by DR Horton in 2004 located within the Master Planned Community of Aliante. Prices start at around $70,000.

View the Current Availability of Aliante Townhomes for sale in the Courts at Aliante including the Featured Listing.

Aliante Townhomes for Sale - Courts at Aliante

Below are the sales for the past 60 days in The Courts at Aliante as reported by the Las Vegas Multiple Listing Service:

* Does not include Private Sales or Trustee Sales to Private Parties. Information deemed reliable but not guaranteed.

<>Courts at Aliante Townhomes - Sales  AddressSQ. FT
List Price
 Sales Price
 DOM Close Date
 6748 Lavender Lilly
1,588
 $82,900$80,000
15
05/27/2010
 6728 Lavender…


Summerlin, Las Vegas Luxury Estate reduced over $5 Million

Monday, July 19th, 2010 at 11:22pm. 945 Views, 0 Comments.

Bank Owned Summerlin Estate in Las Vegas Reduced in Price by over $5,000,000.

Located in Tournament Hills Country Club in Summerlin, the former home of the CEO of the Dot.com busted Las Vegas based Purchase Pro has been reduced in price again to $3,950,000 that you can take a look at here:

Luxury Summerlin Homes for Sale

Bank Central & Trust Co. has owned this home since 05/04/2006 and was originally asking $9,200,000. Situated on over 1 acre, this 10,692 square foot home features Golf Course Frontage on the 4th hole of Tournament Players Club (TPC) Summerlin, Strip Views, Two Gyms and Seven Bedrooms.

(Membership in TPC Summerlin is not Automatically Included with a purchase of a home in Tournament Players Club.)

Currently, Annual Property Taxes are listed at…


Time Frame of Short Sales by Major Loan Servicers ranked by Deutsche Bank

Saturday, July 10th, 2010 at 5:40am. 2737 Views, 2 Comments.

Major Loan Servicers Ranked in Time to Complete Short Sale Process

So you started up that short sale process with Bank of America and received their welcome letter with a brief overview of the process: (Taken from an Actual Bank of America Short Sale Welcome Letter)

Bank of America Short Sale Welcome Letter

"You can Expect the Process to Last 45 to 90 days to complete...."

Six months later and reality hits just like the Las Vegas homeowners interviewed by Channel 13 on Las Vegas Homeowners Frustrated with Short Sales.

Somewhere along the way, you may have gotten the impression that a short sale was going to be short... It could have been from a PR campaign or some overzealous promises made by somebody inexperienced with the process.

Regardless... the good news is that someone Finally did a study on…


Las Vegas Ch. 13 Airs Bank of America Short Sale Frustrations

Saturday, July 3rd, 2010 at 2:44am. 1443 Views, 1 Comments.

Old News for Bank of America Short Sales

Representative from Bank of America says there are too many homes in the Short Sale Process..

From Channel 13 Las Vegas:

Bank of America Short Sale Frustrations

"Weeks after our Contact 13 investigation into Bank of America we have uncovered a new wave of problems hitting Valley homeowners."

Nothing Short with Bank of America Short SalesSorry Channel 13 Las Vegas... it's not new news. In fact, it's very, very old. But it is nice to finally see a local news station highlighting the frustration multiple homeowners trying to do the right thing across Las Vegas have been going through with Bank of America.

Believe it or not... it has gotten a little bit better dealing with Bank of America since they moved to the Equator system and putting the work of the database entry…