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las vegas real estate market: Negative Equity & Strategic Defaults - Are Principle Reductions Next? - 02/03/10 09:52 AM
Strategic default is a hot topic in the press, on the blogs and in the real estate industry. Homeowners are starting to weigh all their options and make "business" decisions about whether to stay or walk away from their home. In many cases, the homeowner/borrower is truly unable to continue to make the payments due to a variety of hardships, job loss or major changes in their income. There are a variety of alternatives to foreclosure including a short sale. The best advice for homeowners in this situation is to consult with qualified legal, tax and real estate professionals to gather … (3 comments)
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las vegas real estate market: Las Vegas Real Estate Market Report for 2009 including Foreclosure and Short Sale Stats - 02/03/10 09:10 AM
The Las Vegas real estate market may be showing signs of recovery. The Greater Las Vegas Association of Realtors (GLVAR) released its local housing statistics for December 2009 with some interesting findings for the year.
According to GLVAR, sales of existing homes in Las Vegas were up 64% in 2009. GLVAR reported 46,879 local housing sales in 2009. That represents a huge spike from 28,618 total sales in 2008 and trails only the 71,963 homes sold during the record year of 2004. The increasing sales continue to be driven by low prices. GLVAR reports that the average single family … (4 comments)
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las vegas real estate market: Las Vegas Real Estate & Foreclosure Report for January 2009 - 02/25/09 09:52 PM
Nevada continues to have the highest number or foreclosure filings for all US states according to www.Realtytrac.com. Realtytrac records and defines foreclosure filings as:
".... documents filed in all three phases of foreclosure: Default — Notice of Default (NOD) and Lis Pendens (LIS); Auction — Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank)."
"Nevada foreclosure activity in January decreased 4 percent from the previous month, but the state continued to register the nation’s No. 1 foreclosure rate, with one in every 76 … (1 comments)
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las vegas real estate market: NAR Chief Economist Predicts Las Vegas Will Lead Nation in Housing Recovery - 02/25/09 09:47 PM
Kathryn Bovard wrote an excellent post yesterday on her Zen Real Estate blog, reporting on NAR's chief economist Dr. Lawrence Yun's prediction that Las Vegas would lead the country out of the housing crisis.
Dr. Yun cited to key reasons...1.The Las Vegas home prices are under market and 2. The Stimulus Plan
Read Kathryn's full post for more..Today Chief Economist Predicts Las Vegas Real Estate Market to Lead the Nation Out of Housing Crisis
The Las Vegas Review Journal reported Executve says LV Housing poised to rally
"Low mortgage rates, combined with first-time homebuyer assistance from the federal stimulus package, will push buyers off … (1 comments)
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las vegas real estate market: FHA Loan Limit Raised to $400,000 in Las Vegas - 03/15/08 09:54 PM
Las Vegas Real Estate Career Tip: Discover the benefits of the FHA loan.
HUD’s Federal Housing Administration (FHA) is temporarily increasing its loan limits (until December 31, 2008) in Clark County, NV to $400,000 (from $304,000) as part of an economic stimulus plan that will enable more families to qualify for a safe, affordable mortgage.
FHA loan guidelines are more relaxed than conventional loan guidelines; this includes less strict regulations about past bankruptcies and/or foreclosures, job requirements, use of alternative credit, and debt-to-income ratios.
FHA Loans have several advantages over conventional loans, including lower down payments and more relaxed credit-qualifying guidelines. … (0 comments)
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las vegas real estate market: How To THRIVE in the Current Real Estate Market - 11/10/07 04:28 PM
Our current real estate market in Las Vegas (and around the country) presents an interesting test for all involved... from the buyers, to the sellers to the practicing real estate agents and also for the brokerage firms I've been living and working in Las Vegas since 1992 and this is my first experience in a "challenging market". Fueled by local and national media with a slant to reporting the negative, "newsworthy" hype of doom and gloom, buyers are afraid to purchase, waiting for the elusive "bottom of the market" before jumping back in. Sellers are holding on to every ounce of … (27 comments)
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las vegas real estate market: 7 Year Study of Real Estate in Las Vegas - 06/15/07 01:30 AM
Equity Title of Nevada has compiled a very comprehensive and informative 7 year study that tracks the number of homes sold and average sales price of homes by zip code from 2000 to 2006. The chart is a useful tool ilustrating the overall picture of what happened in the Las Vegas real estate market over the past 7 years.
Download 7_year_study_compiled_2007.pdf
For example, take a look at the number of homes sold year over year since 2003 - it clearly illustrates the dramatic shift and appreciation that occured in 2004-05. I t also indicates the adjustment in the market in 2006 that continues now … (0 comments)
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las vegas real estate market: June 2007 Las Vegas Market Condition Report - 06/13/07 12:20 AM
Here is the June 2007 edition of the Las Vegas Real Estate Market Condition Report courtesy of Equity Title of Nevada.
Download mcrlas_vegas_valley_june_2007_plus_comments_and_opinion.pdf
Here is an excerpt from the report showing current trends in our market.
… (0 comments)
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Jan O'Brien - Las Vegas Homes (Broker | Real Estate Speaker & Trainer)
Las Vegas,
NV
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Realty ONE Group
Address: 6475 S. Rainbow Blvd, Suite 102, Las Vegas, NV, 89118
Office Phone: (702) 898-1010
Cell Phone: (702) 858-9191
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