Will new Nevada Lending Requirements and National Testing for Loan Officers help clean up the Industry?

Sunday, January 3rd, 2010 at 11:42am. 325 Views, 0 Comments.

Will New National Testing

Clean up the Lending Industry?

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

Anybody 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…

Las Vegas Real Estate Activity Report

Saturday, April 25th, 2009 at 10:46pm. 691 Views, 1 Comments.

Las Vegas Homes in Contract

Buyers activity Surges for Las Vegas real estate.

As of today, there are currently 10,761 Las Vegas Homes that are either Contingent or Pending in the Las Vegas MLS for areas 101-606 which includes Henderson Homes, North Las Vegas Homes and Summerlin Real Estate. These numbers are suggesting the strong demand for Las Vegas real estate at current values which could be a very strong signal that Las Vegas Home Values may be finally ending the free fall in prices.

Type of Las Vegas Homes currently in contract:

• 8992 Single Family Homes
• 1230 Condominiums
• 520 Townhomes
• 19 Manufactured Homes

No surprise that single family homes lead the way in future sales.

Las Vegas Homes classifications:

• 6066 of these are Bank Owned AKA Las Vegas REO Homes.
• 3654…