Southern Nevada condo market still wallows in the Lehman moment, especially the high-rise luxury segment that occupies choice space for the most part on and around the Strip. Units are hard to sell because mortgage financing has dried up, sharp value declines have scared would-be buyers to sit an
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05/30/2010
When the housing market began recently unraveling at warp speed and quickly lugged the overextended mortgage industry along with it things looked quite bleak for the U.S. economy. Housing, after all, is one of its major components and should it be hit with a serious medical condition, taking a si
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05/27/2010
The two large GSEs, or government sponsored enterprises, that provide much of the liquidity to the secondary mortgage market are trying to improve their still misbehaving portfolios. Their underwriting guidelines have been steadily getting stricter which will certainly help, but most of the benef
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05/25/2010
Land in the Las Vegas valley used to be a piping-hot commodity a few years ago, when the growth here easily topped all the other metropolitan areas in the country. The thirst for tracts of sand was such that prices zoomed higher year after year to reach a record $939,400 per acre - that is for la
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05/23/2010
When the government introduced the first-time home buyer tax credit program - later it included move-up buyers as well - many real estate and mortgage movers and shakers blessed it with applause. Others weren't so sure it would work that well. The Housing research firms are predictably right now
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05/20/2010
The current real estate chaos has introduced even the timid to the exotic avenues of unloading a home. Before, the industry experts were usually the only ones well-versed on REOs and foreclosure and short sales and even auctions. This generation of mortgage borrowers and homeowners has been, whet
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05/18/2010
Karen presents a strong discussion about strategic mortgage defaults and how it's probably going to play out in the coming months. Strategic Default - Walking Away from a Mortgage Currently, in the United States, there are about 7 million homeowners behind on their mortgages. Banks are working
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05/17/2010
When a consumer fills out a mortgage application to purchase a home, or do a refinance, it means that obtaining his credit report will follow. It's part of the process and readily accepted. Something else may also happen, though, that can cause bewilderment in the home loan applicant, maybe even
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05/14/2010
Janna has a timely narrative of how short sale negotiations are so much fun. Short sales in Vegas are becoming rather popular now, so homeowners thinking about doing one can find out by reading her blog what it's all about.Janna Rankin Scharf, GRI, CLHMS, SFR - Coeur d'Alene Idaho Homes For SaleS
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05/12/2010
If the median price of a single-family house is used as a sole indicator for the health of a real estate market, then Sin City would be hailed as being on the mend. According to GLVAR, or Greater Las Vegas Association of Realtors, Las Vegas median price grew to $142,000 in April, a strong 4.4% im
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05/11/2010
