With the tremendous amount of distressed properties and unemployment in Las Vegas, the amount of people unable to pay their mortgage is high.  Short sales enable a selelr to avoid foreclosure on their record and help the housing market with one less foreclosure. I just posted a great article with frequently asked questions about short sale and the tax implications.  I am NOT a CPA or a real estate attorney, but I quoted someone who is.  It's always recommended that you seek the advice of your accountant and lawyer regarding any short sale issues.   Here are some of the questions answered in the post:

1. What are the benefits of a Short Sale vs. Foreclosure?

2. Can I short sale an investment property? (Yes)

3. Can the debt forgiven on a short sale or foreclosure be taxable income? (Yes)

4. Is it possible to have a taxable gain after a short sale or foreclosure? (Yes)

5. Can the lender come after me for a deficiency judgment after a short sale or foreclosure? (Yes)

This article is intended to provide general information to provide general guidance and dispel many myths on the topics of taxability and personal liability after a short sale or foreclosure. While I am a Real Estate Broker and Certified Public Accountant, this is not intended to be tax advice and you should always consult with your own CPA, attorney and trusted advisors to discuss your specific situation, goals, rights and options.

To read all the answers to these common questions, visit the full blog post at:

Las Vegas Short Sale Questions

Felipe Crook

Prudential Americana Group Realtors

Las Vegas NV 89117

1-866-589-1646

I recently did a blog post about how to avoid a foreclosure of your Las Vegas property.  One of the best ways to accomplish this is to do a Short Sale.  A short sale is when the a seller is trying to sell their property for less than what is owed to the bank.  The lender who carry's the note has to approve a loss on the property and the new buyer gets financing or pays cash for the property.

Why do a short sale? What are the benefits of a short sale?

• Short Sales are better on your credit than a foreclosure
• Short Sales can negotiate the a full discharge of your loan. A foreclosure can seek the difficiency amount.
• Short Sales avoid costly foreclosure fees for the seller and the bank
• Agent commissions to list and market the property are paid by the bank

It is important to have a strong team to help negotiate the short sale for you.  I am a Ceritified Short Sale Professional designee from the National Association of Realtors.  I work with a great lawyer and accountant that I would be happy to refer to you as well.   There are options you have to avoid a foreclosure. If you would like to learn more about Short Sales, please visit this website:

www.LasVegasShortSaleConnection.com

Felipe Crook

Prudential Americana Group Realtors

Las Vegas NV 89117

1-866-589-1646

Panorama Towers has some of the best prices, best locations and best amenities for high rise living without paying exorbidant amounts of money.  The end unit which is approximately 2372 sq feet, is my favorite unit in the towers. This unit has full views of both the strip and the mountains. It's a very functional unit with a smart layout.  I will have one coming onto the market soon, so if you're interested  please contact me directly at 1-866-589-1646 or visit my site at Las Vegas Luxury Properties Link for Panorama Towers.

Felipe Crook

Prudential Americana Group Realtors

Las Vegas NV 89117

Las Vegas Foreclosure Connection recently launched its site for buyers and seller searching for foreclosed properties.  This website allows you to customize your search specifically for bank owned and reo properties. You can save your search, be notified of new properties as the come on the market, and learn how to get your offer accepted.  Las Vegas is a tricky market right now, and it's important to seek the advice of an experienced agent. My team at Prudential Americana Group Realtors sold over $11,000,000 in 2008 because we provide great customer service and personal care.  If you would like any information about any types of properties for sale, please call me toll free at 1-866-589-1646.

Here are some of the most recent posts from Las Vegas Foreclosure Connection:

The Short Sale Process in Las Vegas Nevada

10 Tips to Buying a Las Vegas REO/Foreclosure Property

Steps in the Nevada Foreclosure Process - Timeframes & Resources

Felipe Crook

Prudential Americana Group Realtors

1-866-589-1646

I am interested in exchanging links with other real estate agents around the country.  If you are interested in helping each other build internet traffic to our sites, please email me and we can start the process. My blog site is http://www.LasVegasLuxuryPropertiesLink.com

I look forward to more traffic in 2009!

Felipe Crook

Prudential Americana Group

Las Vegas, NV

1-866-589-1646

felipe@felipecrook.com

I just listed a great penthouse unit in Regency Tower in the heart of the Las Vegas Country Club.  The best thing about this penthouse is that it has it own PRIVATE POOL!  There are only a four penthouses on the market today that have pools and they start at $4 million dollars compared to my listing at $1,395,000!  This unit is 3500 sq ft, 3 bed, 3 bath, two story with floor to ceiling windows, and views of downtown, the golf course, and the gorgeous mountains of Las Vegas.  If you'd like more information, visit http://www.VegasPenthouse28d.com or call me toll free at 1-866-589-1646 for a private showing of this incredible opportunity.

Feel free to search for properties in Las Vegas by clicking here.

Felipe Crook

Prudential Americana Group Realtors

Las Vegas NV

With the tightening of the credit market, loans are getting more and more difficult to obtain.  In order for sellers to be able to compete with the huge amount of foreclosures on the market, some are looking to creative financing ideas to atrract more buyers.  If you have equity in your home and are willing to think out side the box in order to sell your property in this slow market, there are good options to get more traffic to your house.

   For the full article on creative financing ideas click here!

Felipe Crook

Prudential Americana Group

Las Vegas Nevada

I just listed a great penthouse unit in Regency Tower in the heart of the Las Vegas Country Club.  The best thing about this penthouse is that it has it own PRIVATE POOL!  There are only a four penthouses on the market today that have pools and they start at $4 million dollars compared to my listing at $1,999,000!  This unit is 3500 sq ft, 3 bed, 3 bath, two story with floor to ceiling windows, and views of downtown, the golf course, and the gorgeous mountains of Las Vegas.  If you'd like more information, visit http://www.VegasPenthouse28d.com or call me toll free at 1-866-589-1646 for a private showing of this incredible opportunity.

I recently created a video about a rare bank owned luxury home here in Las Vegas. Take a look at this beautiful, massive house overlooking the TPC golf course:

 If you would like more information on this luxury home, please contact Felipe Crook toll free at 1-866-589-1646 or email me directly at felipe@felipecrook.com My main blog on http://www.LasVegasLuxuryPropertiesLink.com is updated frequently with useful information on the latest and great in the Las Vegas real estate market. Visit often for great content and wonderful properties. Happy House Hunting! Felipe Crook Prudential Americana Group Realtors Las Vegas NV Felipe@felipecrook.com 1-866-589-1646