las vegas market update: 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)
las vegas market update: The Heat Is On In Las Vegas
- 02/03/09 05:47 AM
Las Vegas and Henderson Homes are on sale, sellers are motivated, and interest rates are at historic lows...but may not stay that way, which means it makes sense to get moving on that home purchase or refinance you've been contemplating. But if you are among the smart individuals who are going ahead and taking advantage of the low home loan rates to be had right now, there are a few things to be aware of. With interest rates at record lows, all lenders in the US have recently seen a sharp increase in loan applications - right at the time … (0 comments)
las vegas market update: Keys to Housing Recovery in the Las Vegas Market
- 01/19/09 11:27 AM
To move the country out of this economic crisis, Congress and the next administration must place significant emphasis on restoring confidence in the housing market. The housing sector is at the core of the current economic crisis. A renewed, revitalized and robust housing market is essential to generating commerce and helping families build wealth. To this end, Chairman Barney Frank, D-Mass., on H.R. 384, introduced the TARP Reform and Accountability Act, last week. The principle focus of the plan is to ensure that the Troubled Asset Relief Program does what it was originally intended to do – end the credit … (0 comments)
las vegas market update: 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)
las vegas market update: Las Vegas Leading Housing Market Recovery
- 12/12/08 09:44 AM
The increase in distressed properties coming on the market since the end of 2007 has driven down home prices in 80 percent of the nation's metropolitan areas, according to a third quarter report by the National Association of REALTORS®. But while existing home sales fell in 32 states from the second quarter, explosive sales activity in the greater Las Vegas area has pushed Nevada to the forefront of the national housing recovery. Arizona, California and Nevada saw the largest third quarter sales gains, respectively, though Nevada has seen the highest annual increase by far, at 76 percent. Among the cities hardest … (1 comments)
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