jeff brick: Interest Rates Going Down… Las Vegas, Avoid This Costly Gamble!
- 02/09/09 02:08 PM
If you've been following the financial news, you've probably heard that the Fed's been buying Mortgage Backed Securities and will continue to do so as needed. Unfortunately, some media outlets have picked up on the news and mistakenly reported that these purchases will continue to cause rates to drop lower into the summer.
But is that really what it means?
No. Bottom line: The Fed's purchase of higher rate coupons will not necessarily help rates to move lower, as their actions do not impact the loans being originated at today's low rates. The Problem Is...Many consumers are in … (0 comments)
jeff brick: House Bill Aims to Stabilize Housing, Could Address Foreclosures and Stimulus in Las Vegas
- 01/14/09 07:22 AM
A bill that embraces the need for righting the housing market, the first big step toward economic recovery, was introduced Friday in the U.S. House of Representatives. H.R. 384, The TARP Reform and Accountability Act, was offered by Rep. Barney Frank (D-Mass.), chair of the House Financial Services Committee. The bill would require the Treasury Department to develop a program, outside the Troubled Asset Relief Program, to stimulate demand for home purchases and lower property inventories, by making affordable mortgages available for qualified buyers through interest rate buy downs, a priority of the National Association of Realtors®. The measure would amend … (0 comments)
jeff brick: 2008 IN REVIEW: LAS VEGAS REAL ESTATE
- 01/09/09 10:56 AM
Downturn’s Effects Paving Way for Recovery The fallout of the housing market downturn has brewed a perfect storm for prospective homebuyers in 2009. There are several factors to consider in today’s market, the combination of which makes now the perfect time to buy a home. Inventory and sales are both on the rise, with a large number of current closings stemming from low-priced bank-owned and short sale properties that have opened the prospect of home ownership to a larger audience than ever. Many distressed properties currently on the market are priced at a 40 percent discount. And the presence of these … (0 comments)
Local economists anticipate Southern Nevada’s housing market will see a turnaround in 2009. They predict positive growth in nearly all economic factors except for forecasted negative growth in personal income. UNLV Center for Business and Economic Research The local population continues to grow at 5,000 new movers per month, providing demand for the increased housing inventory and in turn supporting a rebound of property values. The supply of well-priced bank-owned and short sale properties is expected to continue, opening the prospect of home ownership to a wider segment of the … (0 comments)
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