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las vegas real estate: Good Things to Know About the REO or Bank Sale Closing Process - 03/14/08 12:30 AM
Good things to know about the
REO-Bank Sale Closing Process:
•1. The Seller- In an REO transaction the Seller is an out of state bank. The bank contracts a 3rd party asset management company which represents them in the transaction and approves the final escrow closing. All correspondence is done by email, below are a few items performed by Escrow to help you understand the closing process.
•2. Title Commitment (prelim) - There may be unforeseen vesting and/or lien issues on the title report that will require Escrow and/or Bank Seller to correct before closing.
•3. HOA Demands (payoffs)- Processing time to obtain … (0 comments)
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las vegas real estate: Important Information Regarding REO Closings in Las Vegas, NV and Henderson, NV - 03/14/08 12:07 AM
IMPORTANT INFORMATION REGARDING REO CLOSINGS IN LAS VEGAS, NV
My title representative, Valerie Grijalva, from First American Title Insurance Company, gave us this information at our real estate sales meeting yesterday in Las Vegas regarding Real Estate Owned (REO) properties. I'm sure that if First American is experiencing this issue, the other companies are too. As an agent, I recommend using this knowledge to prepare your buyer clients and to help control their expectations. This information is very relevant and helpful for what is going on in our industry right now:
We are experiencing increasing delays in obtaining HOA lien demands from almost all the trustee … (1 comments)
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las vegas real estate: Las Vegas Market Condition Commentary - 03/03/08 06:37 PM
Can you believe February is over already?
Things have really been moving along this month in Las Vegas and Henderson for Real Estate. We're noticing the inventory that's been overwhelming for over a year is finally starting to diminish. In fact just in the past week there were 1% fewer homes on the market than usual. This is primarily due to the bank owned properties coming onto the market at really low prices and quickly responding to offers so they go under contract much faster than in the past few months. Even though there will be a steady stream of new … (1 comments)
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las vegas real estate: Is Vegas Finding Its Bottom? - 02/20/08 12:50 AM
Last week, I heard one of my top agents call to tell his well-qualified, first time home buyer that another offer was accepted on the home he wanted. This is the second time he's had to make that call. They are looking for a newer 3 bedroom home with a 2 car garage in Summerlin. They had offered more money than the asking price.
I am hearing of this happening more and more. Many homes in Las Vegas that sellers could no longer make full payments on, or that couldn't be sold in a Short Sale, have been foreclosed on and … (0 comments)
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las vegas real estate: Real Estate Is Still a Wise Choice Part 2 - 06/28/07 01:04 AM
Here are some Rules of Thumb for Investing in Real Estate, even in Las Vegas, Nevada:
Buy Low (like right now), Sell High. That means hang onto your property until the market bounces back, and it will bounce back. I'm reading anywhere from 18 months to 3 years in the Las Vegas market. We wouldn't have projects in the works in the billions all over town if Las Vegas, Henderson, or Clark County were a bad market. I believe that developers do their homework when they decide to spend billions of dollars.
Great investors do the OPPOSITE of everyone else. If everyone is panic … (2 comments)
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las vegas real estate: Loan Applications Are Down but Real Estate is still a Wise Choice Part 1 - 06/28/07 12:55 AM
Just heard on the news this morning that loan applications are down for the second straight week in a row nationally. This is the lowest it's been in four months, while interest rates seem to be on the rise.
Times are tough out there, but I think it's important to remember that real estate is still a very wise investment. Throughout history, it's the most reliable. In my market, the Las Vegas, Nevada area, including Henderson and the rest of Clark County, we are taking a beating in the media.
Let's re-cap for the past Las Vegas market: 2004 = record breaking appreciation, up 40% in some … (0 comments)
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las vegas real estate: TREO vs BlackBerry Cell Phone - 06/27/07 11:46 PM
I hate to admit it, as I was a die-hard Treo user for the last couple of years, but I just converted to the new BlackBerry Pearl cell phone. Is it ever cool with the little scrolling, back-lit pearl!
The BlackBerry Pearl applications are very useful and easy to figure out. The email platform is fast, clear, and simple to set up. As a Las Vegas Real Estate agent that handles a lot of Internet leads, utilizing email on my phone insures that we don't lose a client to someone else. We can respond to questions and comments about the Las Vegas real estate market … (15 comments)
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las vegas real estate: Saved! Buyer almost Walked Away from the Closing Table -by Chris Whittaker - 05/17/07 01:07 AM
Yesterday I was 2 days from the closing date on one of our listings in Summerlin in the Las Vegas area of Nevada. The escrow was a 60 day close (which frazzles my nerves to begin with, but we had a non-refundable earnest deposit) and we had taken care of everything the buyer requested. I was at the property waiting for the carpet cleaners--we did go above and beyond on this one, an immaculate corporate home to begin with--and as the carpet cleaner was pulling up I got the call we all dread as real estate agents. "Hey Chris, we've got a 911 emergency. I'm at the title … (6 comments)
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las vegas real estate: Free Training for Las Vegas Real Estate Agents Hosted by Donald Trump Contributer - 05/16/07 07:21 PM
Understand the Las Vegas and Henderson real estate business better and create a TRUTHFUL value proposition for your clients. Quit selling and start serving. Skillful, serving, truthful agents don't prospect. They attract their clients. These agents never have to worry about making enough money...it shows up. They don't have to manipulate for referral business. They are the experts of the industry. Their competency creates their income.
Want to become competent? Want to be an expert in Residential Real Estate? Isn't it time that your community looked to you for their real estate advice?
Join us in Las Vegas at … (0 comments)
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las vegas real estate: Las Vegas Market Update by Dana Whittaker - 04/25/07 08:51 PM
I caught the 2007 Las Vegas Perspective on the news this morning in Las Vegas, on KVBC channel 3. Because of our strong internet presence for real estate in Las Vegas, on www.DanaAnderson.com, we have many clients from out of state asking for this kind of information because many people are still considering making the move to our wonderful area. 8000 people per month in fact, are moving to Las Vegas and Henderson in the Clark County area of Nevada, according to the report.
The Las Vegas population is up 5.3% from last year to a whopping 1.9 million people. Can we be considered … (0 comments)
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las vegas real estate: Las Vegas Real Estate Prediction by Chris Whittaker - 04/21/07 01:10 AM
I have two topics that I wanted to include in this blog. The first is a long overdue appreciation map of the Las Vegas and Henderson Real Estate areas in Nevada. This map compares appreciation rates from 2005 to 2006. There are some flat areas, a couple up markets and many slightly negative parts of town. The majority of the up markets are markets that were late to get the rush of investor money back in 2005 and 2004. These are the east side (where you could still find a moderate sized home in the low $200,000's) and the center of town where … (0 comments)
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las vegas real estate: Buying in Las Vegas by Chris Whittaker - 04/13/07 10:35 AM
Just wrote an offer for a buyer looking to purchase in Northwest Las Vegas. Man, there are some fantastic deals out there. We found a beautiful one story 4 bedroom new home with granite counters and a beautiful backyard. It had 1850 sq.ft. and a 2 car garage. The seller paid $350,000 in 2005. It's on the market for $289,000. Obviously it's a short sale and the seller just wants to unload it. My clients went with a traditional 1 story with 3 bedrooms in a nice masterplanned community. We offered $272,000 with the seller to contribute 3% towards the buyers … (1 comments)
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Dana Anderson Whittaker
Las Vegas,
NV
More about me…
Keller Williams Realty Las Vegas
Address: 3090 S. Durango , Suite 100, Las Vegas , NV, 89117
Cell Phone: (702) 300-7653
Email Me
Las Vegas and Henderson Real Estate information provided by a local, full-time, real estate professional and business coach. Get our opinions on Las Vegas and Henderson market data, appreciation, projections, commentaries, lending information, investing, areas of town, builders, homes, land, condos, townhomes, high-rise condos and hotels, lofts, relocating, 1031 exchanges and living in the most exciting city there is. We'll talk about Las Vegas, Henderson, Summerlin, Green Valley Ranch, Seven Hills, Anthem, Southern Highlands, The Strip and More.
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