December 2011

There are 3 blog entries for December 2011.

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

Thursday, December 29th, 2011 at 1:49am. 1023 Views, 0 Comments.

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

Trash out of a Bank Owned HomeRead 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. 2703 Views, 3 Comments.

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

Bank of AmericaI 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. 795 Views, 1 Comments.

Las Vegas Short Sales May Rise in 2012?

More Signs of Las Vegas Short SalesInteresting 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…