All Blog Entries by Paul Francis

There are currently 94 blog entries published by Paul Francis.

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Summerlin Homes for Sale and April Sales Stats in Las Vegas Zip Code 89135

Tuesday, May 14th, 2013 at 8:40pm. 82 Views, 0 Comments.

Summerlin Homes for Sale in Las Vegas Zip Code 89135

Las Vegas Zip Code 89135 MapAs of today, there are currently 133 Summerlin Homes available for sale in the Las Vegas zip code of 89135 on the Las Vegas Multiple Listing Service (MLS). Prices currently range from $7,499,999 for a 9,873 square foot Summerlin estate in The Ridges of Summerlin to a 1,284 square foot Summerlin Single story home listed for $189,000.

Median Stats:

  • Median List Price = $465,374
  • Median Sq. Footage = 2,838
  • Median $ Per Square Foot = $185
  • Median Bedrooms = 4

View Homes for Sale In Summerlin Zip Code 89135

Summerlin Zip Code 89135 April Sales

In April of 2013, 102 properties in the Summerlin Zip code of 89135 sold ranging in sales prices from $2,400,000 for a home in Red Rock Country Club to $134,999 for a 975…

Fannie Mae and Freddie Mac begin roll out of new Streamlined Modification Program

Tuesday, May 14th, 2013 at 11:56am. 49 Views, 2 Comments.

Fannie Mae and Freddie Mac begin program to help distressed borrowers

According to DSNews that you can read here:

Rather than delay assistance to borrowers, Freddie Mac stated it is making the program immediately available to all eligible borrowers across the country, according to a release. In an email, Fannie Mae also confirmed the program is already available. As part of the program, Fannie Mae and Freddie Mac borrowers who are at least 90 days delinquent but no more than 720 days past due may be eligible for a modification that does not require the borrower to submit financial or hardship documentation.

Check to see if your loan is owned by Fannie Mae or Freddie Mac and an explanation of Who Really Owns Your Home Loan.

The Program was originally announced…

Homeowners with Negative Equity drops over 40% compared to last year according to LPS

Tuesday, May 7th, 2013 at 10:30am. 67 Views, 0 Comments.

Latest Report From Lender Processing Services (LPS) shows huge improvement

According to a recent report from Lender Processing Services using data from March, homeowners with negative equity (also known as "underwater" owing more on their home loan then their home is worth) dropped 41% year over year. You can read the article HERE.

“Still, the overall equity trend has been a very positive one,” Blecher continued. “LPS’ latest data shows that the share of loans with LTVs greater than 100 percent has fallen 41 percent from a year ago. In total, there were approximately 9 million such loans, or about 18 percent of active mortgages. Some states, including the so-called ‘sand states’ (Arizona, Florida, Nevada and California), are still well above the national…

Rental Home Scam puts Zillow and the National Association of REALTORS on alert

Monday, May 6th, 2013 at 4:40pm. 92 Views, 0 Comments.

Another Rental Home Scam

Just a little bit more sophisticated where the scammer used Zillow to act as a Real Estate Agent that you can read here.

The scene isn’t as far-fetched as it may seem. Recently, Bailey learned that a scammer scraped his rental listing and reposted it at a lower rent on Zillow, where the original listing was already posted. A prospective renter then found the fake Tobyhanna, Pa. listing posted on rental site HotPads; which Zillow owns and feeds listings to and contacted the scammer.

After hearing from the renter, the scammer corresponded through email with her, using Bailey’s name, an email address with Bailey’s name in it, and a phone number bearing Bailey’s area code.

It's a pretty old scam and it's actually happened to me before…

Short Selling a Las Vegas Home - The Most Common Questions Asked

Sunday, February 3rd, 2013 at 1:31pm. 664 Views, 0 Comments.

Short Selling a Las Vegas Home

Short Sale your Las Vegas Home with a Highly experienced Las Vegas Short Sale AgentWow... a completely busy week with Las Vegas real estate investors calling me with questions about short selling their Las Vegas Homes. I must have had at least 20 phone calls from people completely confused with all of the information that is out there including one Las Vegas real estate investor from California who has multiple "investment" homes in Las Vegas that has gotten a lot of very bad information.

Due to Nevada AB 284 putting the foreclosure process in Nevada to a screeching halt and thousands of homeowners that are essentially living rent free in their homes, a side effect of this is that there are now more homes for lease in Las Vegas then homes for sale. A very rare occurence due to all of the investors that have…

Bank of America transferring the servicing rights of Fannie Mae and Freddie Mac home loans

Wednesday, January 16th, 2013 at 10:15am. 3140 Views, 0 Comments.

More Headaches for Short Sales sellers who have Fannie Mae & Freddie Mac Home loans serviced by Bank of America?

Bank of America announces settlement with Fannie Mae and that it will be transferring the servicing rights of these particular home loans to Nationstar that you can read Here.

Bank of America also announced that it signed definitive agreements with two different counterparties to sell the servicing rights on certain residential mortgage loans serviced for Fannie Mae, the Federal Home Loan Mortgage Corporation (Freddie Mac), the Government National Mortgage Association (Ginnie Mae), and private label securitizations, with an aggregate unpaid principal balance of approximately $306 billion. Transfers of servicing rights are subject to the approval…

Bank Owned Homes for Sale in the Las Vegas Area - January 2013 Report

Wednesday, January 16th, 2013 at 9:02am. 722 Views, 0 Comments.

Bank Owned Homes for Sale in Las Vegas - 01/16/2013

Bank Owned Homes for Sale report in Las Vegas, Henderson and North Las VegasAs of 01/16/2013 - The number of Bank Owned Homes for Sale on the Las Vegas Multiple Listing Service is a whopping 546. This includes all of Las Vegas... Summerlin, North Las Vegas, Henderson, Green Valley and Lake Las Vegas. Single Family Homes, Condos, Townhomes, High Rise Condominiums..

Pop on over to my Bank Owned Homes for sale in Las Vegas page where I've been tracking the Bank Owned inventory for sale since May of 2007 (scroll all the way to the bottom of the page) to see what has taken place since then. 

May of 2007 - 589 Bank Owned Homes for Sale

January of 2009 - 7,750 Bank Owned Properties for Sale is the highest number I've reported and down to 546 as of today.

Bank Owned Properties for Sale by…

Buyers Are Back After Going Through Foreclosure

Thursday, October 18th, 2012 at 11:11am. 598 Views, 1 Comments.

Buyers are Back after Foreclosure

From the Wall Street Journal: Buyers Are Back After Foreclosure

Using the three-year benchmark it takes to get an FHA-guaranteed loan, in this year's second quarter there were 729,000 households that were foreclosed upon during the bust that are now eligible to apply for an FHA mortgage, up from 285,000 in the second quarter of 2011, according to an analysis of foreclosure data by Moody's Analytics. The company projects that number will grow to 1.5 million by the first quarter of 2014.

One thing that many people fail to factor in when it comes to the fears of the banks "dumping" the so called Shadow Inventory on to the Las Vegas real estate market and sinking prices is the amount of people that are now qualified to buy again.…

Nevada Ranks Second in Percentage of Homeowners 90+ days late on their Mortgages

Wednesday, October 17th, 2012 at 2:57pm. 977 Views, 0 Comments.

Corelogic® Releases August 2012 Stats

Corelogic® recently released their October Market Pulse report that included a chart showing the % of home loans out there that are 90+ days late. While it was no surprise that Nevada was in the top 10, what was a surprise were the number of states that you rarely hear about when it comes to the number of foreclosure notice filings.

Also a big surprise is that Arizona has dropped off of the top 25 list for the percentage of delinquent home loans 90+ days late. It didn't seem like it was too long ago that Arizona was competing with Nevada for the top spots in the number of foreclosure filings reported. Arizona took the path of dealing with distressed homeowners head on and not delaying out the foreclosure process…

Las Vegas Home Values - Zip Code 89144 in Summerlin North

Tuesday, October 16th, 2012 at 10:11am. 830 Views, 1 Comments.

Las Vegas Homes- Average Sale Prices for Zip Code 89144 in Summerlin North

Summerlin Sign in Las Vegas, NevadaLas Vegas Zip Code 89144 in Summerlin North Average Sale Prices for September 2006, September 2011 and September 2012.

Peak of the market in September of 2006, Average sale price at the bottom of the market in September 2006 and the bump in sale prices eleven months after Nevada AB 284 went into effect addressing Robo-Signing that slowed down the foreclosure process in Nevada.

The Numbers below are from the Las Vegas Multiple Listing Service and includes Condominiums and Townhomes. It does not include For Sale by Owners. Information deemed reliable but not guaranteed.

Las Vegas Zip Code 89144 Average Home Sale Price

Year# of SalesAverage List PriceAverage Sales PriceAvg. Sq. Ft.Avg. $…

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