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wwwlasvegasmtgcom: lasvegasmtg.com Report: Is Foreclosures now socially acceptable in Las Vegas, Nevada? - 12/20/09 12:07 PM
lasvegasmtg.com Report: Is foreclosures now socially acceptable in Las Vegas, Nevada and in the rest of the country? With the national average of the country reporting that 1 in 4 homes are underwater and certain areas of the country like Las Vegas, Nevada showing 1 in 2 homes are now underwater it has become more common for the borrower to walk away and be foreclosed.
Originally the housing bubble was a product of adjustable rate loan programs and lax qualifying guidelines and no money down that were being offered by lenders to purchase new homes. This was the impetus to … (0 comments)
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wwwlasvegasmtgcom: lasvegasmtg.com Report: Treasury sets new rules for Short Sales process - 12/19/09 11:39 AM
Lasvegasmtg.com reports that the Treasury sets new rules for Short Sales process that will be effective April 5th 2010. While these new Treasury rules for the short sale process is meant to standardize the process it is voluntary until April 5th, 2010. The new rules are expanding on the little used 2009 Home Affordable Foreclosure Alternative or HAFA which was set in place to halt or slow down the Foreclosure process. This process is is specifically designed to help the primary residence home owner that is unable to get a loan modification and provide an alternative to foreclosure, by providing the … (0 comments)
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wwwlasvegasmtgcom: Las Vegas Purchased single family homes in Las Vegas, Nevada by zip codes. - 12/02/09 07:04 PM
Here are the latest statistical information on Las Vegas single family homes in Las Vegas, Nevada by zip code that closed in October, 2009. The information is provided by Old Republic Title. While this is only one segment of the market the other two segments are Town homes with 302 Closed Escrows and Condos with 318 Closed Escrows for the month of October.
Most first time home buyers are looking to purchase a single family home as their first choice, then Town homes, then Condos. The list shows all of the zip codes in numerical order and the Low sales price, … (2 comments)
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wwwlasvegasmtgcom: Short Sales in Las Vegas, Nevada no longer a Niche Market! - 11/28/09 08:09 PM
Review Journal article written by Hubble Smith
I would like to comment on the article on Shorts Sales in Las Vegas, Nevada is no longer a Niche Market. It is interesting that there has been a increase in the number of closings of short sales, 16% in October from the first quarter of only 8% short sale closings. The pending contracts that are in escrow for short sale approval is a very slow process and is fraught with perils for the buyer and the seller. The peril for the buyer is the time it takes to get approval or denial is … (3 comments)
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wwwlasvegasmtgcom: Option ARM's and what affect will it have in Las Vegas, Nevada Housing Market. - 11/26/09 05:06 PM
CNNMoney Article By Les Christie: Option Arms: A poison Pill for homeowners
This is a comment about a article today in CNNMoney about Option Arms and what the affect it will have on the Las Vegas, Nevada housing Market. CNNMoney assessment is that it may be a killer for any home price recovery in Las Vegas, Nevada as the last of the Option Arms that were issued in 2004 are set to be recast. Some of the more interesting statistics that CNN reported is that relatively few of these Option Arms programs were used while they were being offered.
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wwwlasvegasmtgcom: Building a Niche Market in Las Vegas, Nevada - 11/21/09 02:01 PM
Building a Niche Market in Las Vegas, Nevada can come from some unexpected sources, let me explain. About four months ago I met with two gentleman at one of my Realtor's office thinking I was going to take an application. I did get some information on one of the gentleman necessary to get qualified for a loan, but not before I was interviewed by the other gentleman. I was asked questions about who I was, what did I stand for, and why I was the best person to work with his friend. I was being interviewed by the unofficial patriarch of … (3 comments)
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wwwlasvegasmtgcom: How do you buy a Bank owned Property in Las Vegas, Nevada! - 11/18/09 10:48 AM
How do you buy a bank owned property in Las Vegas, Nevada? While this question may seem strange to some that read this, the more I deal with the REO managers and Asset Managers the more I have to ask this question. How do you buy a bank owned property?
I'm not sure if this is a local problem in Las Vegas, Nevada or other areas of the country are experiencing the same problem, a lack of communications from the banks or REO Managers on some of the simplest tasks at hand.
A Friend of mine showed me a short … (3 comments)
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wwwlasvegasmtgcom: First time home buyers in Las Vegas - 11/08/09 10:02 PM
Being a Mortgage Banker can be stressful at times, but what makes this job worth while is helping first time home buyers in Las Vegas, Nevada getting into their new home. First time home buyers are from diverse cultures and income, but they share one common characteristic. The joy of accomplishment when the get their keys to their very own home.
When the first time home buyer starts the process of getting pre approved they are unsure of the process. I counsel them on the 7 stages of the lending process, so that they have a strong understanding of how … (0 comments)
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John Le Francois NMLS #333903
Las Vegas,
NV
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All Western Mortgage Broker # 14210
Address: 8345 W. Sunset Rd., Suite 200, Las Vegas, NV, 89113
Office Phone: (702) 369-0905 x 648
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