Felipe's Blog

Short Sale questions about deficiency judgements

Felipe Crook (Prudential Americana Group) — Thu, 15 Oct 2009 18:38:54 -0500

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

How to avoid foreclosure by doing a short sale in Las Vegas

Felipe Crook (Prudential Americana Group) — Mon, 13 Jul 2009 18:17:41 -0500

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 End Unit for Sale

Felipe Crook (Prudential Americana Group) — Mon, 08 Jun 2009 11:41:38 -0500

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 Connections launches!

Felipe Crook (Prudential Americana Group) — Fri, 13 Feb 2009 01:00:12 -0600

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

Linking with other professionals around the country

Felipe Crook (Prudential Americana Group) — Wed, 21 Jan 2009 17:13:58 -0600

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

Las Vegas Penthouse for Sale

Felipe Crook (Prudential Americana Group) — Wed, 21 Jan 2009 17:07:18 -0600

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

Creative Financing Helps Sell Your Home In Las Vegas

Felipe Crook (Prudential Americana Group) — Sat, 10 Jan 2009 14:37:31 -0600

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

3111 Bel Air Dr Unit 28d for sale in Las Vegas Nevada

Felipe Crook (Prudential Americana Group) — Tue, 09 Dec 2008 12:45:53 -0600

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.

Las Vegas Open House in Guard Gated Willow Creek 12pm-4pm

Felipe Crook (Prudential Americana Group) — Sun, 28 Sep 2008 13:20:05 -0500

Felipe Crook | Prudential Americana Group | 702-683-2169

10715 Rivendell Ave, Las Vegas, NV

Open House TODAY 9-28-08 12pm-4pm on this gorgeous model like home
in Willow Creek.

4BR/3.5BA Single Family House

offered at $700,000

Year Built	2003
Sq Footage	3,425
Bedrooms	4
Bathrooms	3 full, 1 partial
Floors	Unspecified
Parking	Unspecified
Lot Size	8,276 sqft
HOA/Maint	$226 per month

DESCRIPTION

This gorgeous home in Willow Creek features a sparkling pool and spa. The model like decor will make you feel right at home. It's 4 bedrooms, 3.5 baths, 3 car garage. Huge vaulted ceilings, beautiful granite counter tops, upgraded cabinetry, and custom paint through out the home. Plus, this is the least expensive house in the whole subdivision. For more information, please call Felipe Crook at 1-866-589-1646

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	Fireplace
High/Vaulted ceiling	Walk-in closet	Tile floor
Dining room	Breakfast nook	Dishwasher
Microwave	Granite countertop	Stainless steel appliances
Laundry area - inside	Balcony, Deck, or Patio	Yard
Swimming pool	Jacuzzi/Whirlpool

COMMUNITY FEATURES

Tennis court(s)

Gated property

Secured entry

ADDITIONAL PHOTOS

Seller contact info:

Felipe Crook

Prudential Americana Group

702-683-2169

For sale by agent/broker

Equal Opportunity Housing

Posted: Sep 28, 2008, 9:10am PDT

Las Vegas Golf Properties- Bank owned and motivated!

Felipe Crook (Prudential Americana Group) — Wed, 24 Sep 2008 21:22:19 -0500

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

Vegas Bank Owned Golf Course Home- Motivated to SELL!!

Felipe Crook (Prudential Americana Group) — Wed, 24 Sep 2008 21:15:00 -0500

I recently went on a tour of a gorgeous bank owned property in Las Vegas in the luxurious guard gated community of Tournament Hills. It's 15,000 sq ft, 7 bedrooms, 9 baths, 4 car garage, pool, spa, sauna, steamroom, commercial elevator, and theatre room. Not to mention the half basket ball court, and putting green in the 1.24 acre lot. It's HUGE and beautiful. Take a look at my main blog for more information:

Bank Owned Golf Course Home in Las Vegas

Happy House Hunting

Felipe Crook

4 Bedroom Rental in Desert Shores.

Felipe Crook (Prudential Americana Group) — Sun, 07 Sep 2008 00:01:12 -0500

I just listed a great single story for rent in Desert Shores. This home features 4 bedrooms, 2.5 baths, covered patio, vaulted ceilings, two way fireplace, and all appliances available. Desert shore residents have access to wonderful resort like amentities and activites which include, clubhouse, beach volleyball, bbq, walking trails, and several beautiful lakes. If you'd like more information on the property, email Felipe@felipecrook.com or call me directly at 702-683-2169.

Desert Shores Las Vegas Rental Property 7700 Oyster Cove Dr

Felipe Crook (Prudential Americana Group) — Fri, 29 Aug 2008 12:54:17 -0500

Desert Shores Las Vegas Rental Property 7700 Oyster Cove Dr

Felipe Crook (Prudential Americana Group) — Fri, 29 Aug 2008 12:53:59 -0500

Panorama Towers Penthouse Las Vegas For Sale!

Felipe Crook (Prudential Americana Group) — Wed, 02 Jul 2008 10:58:18 -0500

This is a Penthouse Party Pad in Panorama Towers. This unit has been completely remodeled by designer Mark Tracy who just won Designer of the Year in Las Vegas. Over 3000 sq ft, with incredible strip views, this entertainer's dream is HOT! Check out the short video tour I recently made of the property. If you'd like more information on this or any other units in Panorama Towers, please feel free to contact me directly at 702-683-2169 or email me at Felipe@felipecrook.com Felipe Crook Prudential Americana Group Realtors

Trump Towers Condo For Assignment at 2005 Prices!!

Felipe Crook (Prudential Americana Group) — Sat, 14 Jun 2008 12:28:45 -0500

I've been in contact with someone who currently has a contract on a Trump Tower Unit in Las Vegas. He would like to assign his contract to another buyer at the original 2005 contracted price! This is significantly lowers than anything else on the market. He's actually losing money to assign the contract. If you are thinking about buying a unit in Trump Towers, please contact me directly at 866-589-1646 for more information about these units. You can also visit my luxury blog about these units by clicking HERE. Great opportunity to get 2005 prices on Trump Towers Las Vegas!!

Felipe Crook

Prudential Americana Group Realtors

3417 Thom Blvd For Sale in Las Vegas

Felipe Crook (Prudential Americana Group) — Mon, 02 Jun 2008 19:05:24 -0500

I have recently listed a wonderful property I'd like to share with the world. It's a beautiful single story home on over 10,000 sq ft lot. It has 2211 sq ft, 4 bedrooms, 2 baths, and a 3 car garage. As you walk into the house, you are greeted by a open living room with vaulted ceilings and a gas fireplace. The kitchen boasts granite counter tops, ceiling fans, breakfast nook, and vaulted ceilings there too. The home has been updated with 14 seer AC units last year, solar screens, and a covered patio all help the energy efficiency of the property. The backyard has grass, a storage shed wired with electric outlets, and a 4 foot sheer desent water feature. It's currently listed at $305, 000. It's agressively priced and in great condition. Take a look at some pictures:

If you'd like to take a look at this property, please contact me directly at 702-683-2169. I would be happy to show you this lovely home.

Happy House Hunting!

Felipe Crook

Fine Homes International Specialist

Prudential Americana Group Realtors

Las Vegas Nevada

702-683-2169

Felipe@felipecrook

http://www.felipecrook.com

Palms Place Condos For Sale

Felipe Crook (Prudential Americana Group) — Sun, 25 May 2008 17:40:26 -0500

Palms Place Condos are a popular Condo/Hotel project brought to you by the Palms Casino. There are studios and one bedroom units available for Purchase. Currently there are 20 units on the market. If fact, one unit is SO well priced at $650,000 for a 17th floor unit. If you'd like to see what's currently on the market in Palms Place click on the picture below. If you'd like more information or to schedule a private showing of any of these units, please contact Felipe Crook toll FREE at 866-589-1646 or email me at Felipe@felipecrook.com There are many options for high rise living right now in Las Vegas, if Palms Place is not your style, contact me with your wish list and I'll help you find a property that matches your needs or feel free to visit my Las Vegas High Rise Series on my Las Vegas Luxury Homes Blog for more information on High Rise units in Las Vegas.

Click here to view current units available in Palms Place Condo/Hotel.

Felipe Crook

Fine Homes International Specialist

Prudential Americana Group Realtors

Las Vegas NV

Cell: 702-683-2169

Palms Place Condo For Sale 53rd Floor

Felipe Crook (Prudential Americana Group) — Fri, 04 Apr 2008 16:36:07 -0500

There is a GREAT opportunity to purchase a unit in Palms Place for 1st phase, "Friends and Family" pricing right now. The unit is 615 sq ft, on the 53rd floor facing the strip. Palms Place is a HOT condo/hotel here in Las Vegas. It's so different than any other condo hotel that is currently on the market. It's modern, sleek, and sexy. This definitely will attract a different clientèle than Signature MGM Grand Condos, or Trump Tower Las Vegas. If you'd like to see more pictures and get more information about this and other units in Palms Place, please click on the picture below. If you have any questions you can contact me toll free at 1-866-589-1646 or email me at Felipe@felipecrook.com

24th Floor Trump Condo For Sale Las Vegas

Felipe Crook (Prudential Americana Group) — Fri, 04 Apr 2008 16:25:56 -0500

I just came across a good deal in Trump Las Vegas. Trump is a condo/hotel on the Las Vegas Strip. It's positioned in a great location, across the street from Wynn, the new Echelon, and Fashion Show Mall. The design is classic/contemporary with every amenity you could want. The views are spectacular in this unit as it faces the south strip. If you'd like more detailed information about this unit, please click on the picture below! I am familiar with all the high rises in Las Vegas, so if Trump Condo/Hotel is not the one for you, please email me at felipe@felipecrook.com and I'll help find the right home in the sky for you. You can also contact me directly toll free at 1-866-589-1646.

Click on the picture for More information about this Trump Unit for Sale in Las Vegas.

Working with International Clients

Felipe Crook (Prudential Americana Group) — Tue, 25 Mar 2008 18:24:09 -0500

I wanted to get some feedback from Realtors working with Foreign buyers. I'm in the process of getting my Certified International Property Specialist Designation and I'm interested to find out how to attract Foreign buyers, and investors? Does anyone have some ideas? Las Vegas is such an international city and a wonderful resort, entertainment destination. I'd love any ideas. Thanks!

Felipe Crook

Prudential Americana Group Realtors

Fine Homes International

Toll Free 1-866-589-1646

Panorama Towers Condos-Cheapest Price Per Sq FT

Felipe Crook (Prudential Americana Group) — Fri, 21 Mar 2008 11:11:37 -0500

I just previewed a gorgeous high rise condo in Panorama Towers Las Vegas. It was a great unit, strip facing, nicely decorated, and upgraded on the 18th floor. After previewing that property, I went back to the office to see what the current inventory was for that model and I was very surprised to see how well some of the condos are priced in Panorama Towers. Most of the condos in this project are selling for a minimum of $450 sq/ft, but I found 15 properties that were UNDER $400 a sq/ft!!! That is a significant discount for a high rise condo. Many of them are strip facing too. If you'd like to see the current 15 condos that are VERY well priced per sq ft, click on the picture below. If any of those are interesting to you, call me to set up a time to see them Toll FREE 1-866-589-1646 or email me at Felipe@felipecrook.com. Also, if you'd like more information about other high rise projects in Las Vegas, visit my Las Vegas High Rise Condo Series. I look forward to working with you!

Felipe Crook

Fine Homes International Specialist

Prudential Americana Group

Las Vegas, NV 89117

Toll Free 1-866-589-1646

Felipe@felipecrook.com

http://www.FelipeCrook.com

Bank Owned Units in Turnberry Place Las Vegas

Felipe Crook (Prudential Americana Group) — Wed, 19 Mar 2008 16:56:02 -0500

Turnberry Towers In Las Vegas

I recently wrote a post about Turnberry Place in Las Vegas on my luxury blog. I was surprised to find that there were three units in Turnberry Place that are currently bank owned. They are priced accordingly. Please click on the picture above to read the post and to see pictures of these units. If you'd like more information on other units in Turnberry Place, please call toll free at 866-589-1646 or email me at Felipe@felipecrook.com

Felipe Crook

Prudential Americana Group Realtors

Las Vegas NV 89117

Toll Free 1-866-589-1646

Email: Felipe@felipecrook.com

Las Vegas Home Foreclosure

Felipe Crook (Prudential Americana Group) — Wed, 27 Feb 2008 21:57:45 -0600

Did you know as of February 27, 2007 there are currently over 1900 bank owned properties in Las Vegas? There are more on the way too! This downturn in the housing market has created some incredible opportunities for buyers looking to purchase in today's market. I am seeing 2002 sales prices on certain properties. One segment of the market that has produced some great deals is the luxury market, homes in $600K to $1million plus range.

For example, take a look at this gorgeous home in Southern Highlands:

This home to the left is a 4921 sq ft home, on a 13,000 sq ft lot. Back in September of 2005 this property sold for $900,000, but it is currently listed in the low $700's. There are deals like this all over town. This is why I decided to do a foreclosure class plus a tour of the current inventory of these luxury homes. The Crook and Abiera team, a top producing team in Prudential, Indymac Bank and Land American Lawyer's Title are presenting very useful information during this short class, followed immediately by a tour of current luxury foreclosures.

The Foreclosure Class and Tour:

March 15th, 2007

10-11am followed by the tour.

Seating is limited, so please call toll free

1-866-589-1646 or you can email Felipe at

Felipe@felipecrook.com. Visit our website http://www.ForeclosureToursLasVegas.com for more details.

Don't wait to get your passport to luxury foreclosures today!

Felipe Crook

Prudential Americana Group

Las Vegas Foreclosure Tours

Felipe Crook (Prudential Americana Group) — Wed, 27 Feb 2008 21:38:09 -0600

The foreclosure market is getting bigger and bigger here in Las Vegas. It's a fact that foreclosures are here to stay which can produce some amazing opportunities for home ownership and investments. I decided to showcase some of these great deals by hosting a foreclosure tour, PLUS a free class about foreclosures. I've teamed up with Indymac Bank and Land America Lawyer's Title to educate the public on how to purchase a luxury foreclosure.

Here is a great example of what I'm talking about:

This home in August of 2006 sold for $980,000. It is over 4500 sq ft, on nearly half an acre in the southwest part of town. Now this property is listed in the low $600's!! That's $136 a square foot! For a property like this, that is an incredible deal. There are many more properties like this on the market that are waiting for buyers like you. Bank are getting more and more motivated to unload these burdensome liabilities from their financial books.

If you would like to join us for a FREE class and tour, please call Felipe toll free at 1-866-589-1646 or email me at Felipe@felipecrook.com Seating is limited so don't wait.

You can also visit my website for more information at:

http://www.LasVegasLuxuryForeclosures.com

Felipe Crook

Prudential Americana Group