las vegas first time buyers: www.lasvegasmtg.com Report: FHA proposed changes for collections and disputes on credit reports. - 04/29/12 07:32 AM
www.lasvegasmtg.com Report: FHA proposed changes for collections and disputes on credit reports.
by John Le Francois
www.lasvegasmtg.com Report: FHA proposed changes for collections and disputes on credit reports were to take affect on April 1,2012 but has now been delayed till July 1, 2012. The proposed changes are addressing disputes, collections and judgments that show on a credit report. FHA released mortgagee letter 2012-3 refers to the following: 
Requires borrowers with collections with a combined total greater then $1,000 must be paid off including medical collections if the accounts are less then 2 years old activity date. Disputed accounts must be … (0 comments)

las vegas first time buyers: www.lasvegasmtg.com Report: Recent FHA changes impacting Las Vegas, NV. - 04/28/12 05:47 AM
www.lasvegasmtg.com Report: Recent FHA changes impacting Las Vegas, NV.
By John Le Francois
www.lasvegasmtg.com Report: Recent FHA changes impacting Las Vegas, NV. has caused some home buyers to scale back their purchasing power due to increases in FHA Upfront Mortgage Insurance Premium (UPFMIP) going up from 1.00% to 1.75% and the annual mortgage insurance going up from 1.10 to 1.25% with a 3.5% down for a 30 year loan. This increase was implemented for all case numbers issued after April 12th, 2012.
For the first time HUD has implemented a two tier Annual Mortgage Insurance Premium that is dependent on the loan amount, LTV and the terms … (0 comments)

las vegas first time buyers: www.lasvegasmtg.com Report: Republican Politicians want FHA To Increase Down Payment - 05/24/11 09:05 AM
www.lasvegasmtg.com Report: Republican Politician want FHA To Increase Down Payment
by John Le Francois
 
www.lasvegasmtg.com Report: Republican Politicians want FHA To Increase Down Payment from the current 3.5% to 5% and are proposing this through discussion on Wednesday Housing Financial Services Committee hearing led by Judy Biggert (R-Ill.) Last year Congress tried to increase the FHA Down Payment required, but it was removed from the bill when the President Obama threatened to veto the bill if left in.
The Republican led proposed increase to the down payment is based on the argument that FHA would not be in jeopardy of … (3 comments)

las vegas first time buyers: www.lasvegasmtg.com Report: December 2010 Single Family Residence sold in Las Vegas, NV. - 01/31/11 11:58 AM
www.lasvegasmtg.com Report: December 2010 Single Family Residence sold in Las Vegas, NV.
Here is a list of Single Family Residences that were sold in the month of December 2010 in Las Vegas, NV. The list is broken down by zip code, the lowest price, maximum price and the average price per Sq./FT and the number of homes closed.
There are a number of zip code in Las Vegas, North Las Vegas, and Henderson areas that are far more  active then other areas with investors and first time home buyers as well as move up buyers. With bargain basement prices and rates that are expecting to go up soon … (0 comments)

las vegas first time buyers: www.lasvegasmtg.com Report: FHA 90 Day Flipping Rule is set to Expire - 01/16/11 11:03 AM
www.lasvegasmtg.com Report: FHA 90 Day Flipping Rule is set to Expire
www.lasvegasmtg.com Report: FHA 90 Day Flipping Rule is set to Expire at the end of this month. The 90 Day Flipping rule was instituted to help prevent Fraud on FHA Loans by setting certain guidelines on homes that have been purchased and renovated within the 90 day period. The FHA Waiver for the last year was in recognition this policy was actually hurting the recovery as investors who renovated the houses as well as buyers that were purchasing the renovated properties were limited on how to finance the new loan.The waiver was … (1 comments)

las vegas first time buyers: www.lasvegasmtg.com Report: Is Las Vegas housing inventory rising due to declining sales? - 09/04/10 05:34 AM
www.lasvegasmtg.com Report: Is Las Vegas housing inventory rising due to declining sales? The Greater Las Vegas Realtors and Applied Science has reported that Las Vegas housing inventory has been increasing weekly at a pace of 280 homes per week since late April. The housing inventory in Las Vegas has increased to 14,854 a 4,800 increase in four months.
Current housing inventory has increased by 20% over last year withvacant or tenant occupied properties representing 80% of the standing inventory.  Contingent sales that are currently pending, 80% are short sales that require the banks approval. The Short Sale process is slow and tedious with a success rate of only 25% in  actual closing.

… (9 comments)

las vegas first time buyers: www.lasvegasmtg.com Report: Nevada Senator Harry Reid wants to Extend $8,000 Tax Credit - 06/12/10 03:43 PM
www.lasvegasmtg.com Report: Nevada Senator Harry Reid wants to Extend $8,000 Tax Credit
www.lasvegasmtg.com Report: Nevada Senator Harry Reid wants to Extend $8,000 Tax Credit until September 30Th. Senator Reid (D) the Senate Majority Leader is Co-Authoring the bill for the extension of the Tax Credit and is hoping to attach it to several bills that are presenltly moving through the Senate to extend Tax Breaks that are set to expire. If Democrats are successful in attaching the bill to the the Tax Breaks and the extension of Unemployment benefits Democrats are unsure there will be enough support to pass the legislation.
The previous extension expired on April 30th … (0 comments)

las vegas first time buyers: www.lasvegasmtg.com Report: Ron Paul Legislation to Return $8,000.00 First Time Home Buyers Tax Credit - 05/29/10 05:21 AM
www.lasvegasmtg.com Report: Ron Paul Legislation to Return $8,000.00 First Time Home Buyers Tax Credit
May 25th, 2010 Ron Paul (R TX-14) introduced legislation HR 5398 to permanently reinstate the First Time Home Buyers Tax Credit of $8,000 and amend the 1986 Tax Codes allowing for Federal Declared Disaster areas for home buyers to receive the credit to replace or repair destroyed homes. 
The new legislation would permanently make available the $8,000 Tax Credit for First Time Home Buyers and would greatly expand the tax codes on who would be able to qualify for the Tax Credit.Here is a list of proposed … (5 comments)

las vegas first time buyers: www.lasvegasmtg.com Report: What every Realtor should know about Veterans Home Loans - 04/06/10 04:10 AM
www.lasvegasmtg.com Report: What every Realtor should know about Veterans Home Loans and was afraid to ask.
Did you know that there is a special provision that allows an extension for one year to receive the $8,000.00 Tax Credit? When the tax credit was extended last year along with the $6,500.00 dollar tax credit for the people that have already owned a existing home and resided in the home for 5 out of the last 8 years, there was added this provision for active veterans an extension of the $8,000.00 Tax Credit for one full year expiring 04/30/2011.
To qualify for the … (0 comments)

las vegas first time buyers: www.lasvegasmtg.com Report: Treasury ends purchase of Mortgage Backed Securities - 04/04/10 10:18 AM
www.lasvegasmtg.com Report: Treasury ends purchase of Mortgage Backed Securities on April 1st, 2010. In 2008 the Treasury stepped in to provide liquidity to the housing market by purchasing the Mortgage Backed Securities due to the fact the secondary market was frozen with investors not purchasing these securities. When this program was started it was to have ended at the end of November but the timing was considered to fragile so it was extended until April 1st, 2010.
When the Treasury Department started the purchase of Mortgage backed Securities rates were at 6.4% and rising as liquidity from the banks and investors … (0 comments)

las vegas first time buyers: www.lasvegasmtg.com Report: Once again rumors of $8,000 tax credit renewal - 03/31/10 02:58 AM
www.lasvegasmtg.com Report: Once again rumors of $8,000 tax credit renewal is being reported in the business section of the New York Times March 29th, 2010 written by David Streitfeld. The article outlines what everyone knows in the Real Estate profession that December sales data was the worst on record in 40 years with a drop of 23% of existing home sales over the previous month. January and February sales data were not much better with a modest increase in sales for March being reported.
The decline in the sales could be directly linked to the bad  weather that has hit most … (1 comments)

las vegas first time buyers: www.lasvegasmtg.com Report: Home Prices in Las Vegas, Nevada by Zillow.com - 03/23/10 06:48 AM
www.lasvegasmtg.com Report: Home prices in Las Vegas, Nevada Year over Year shows on average a 23% decline in prices but for the 1st Quarter 0.0% average decline. This is god news that home prices are showing a bottom in pricing. The question still remains what will happen when the shadow inventory is released. Will we see a double dip in home prices until inventory is depleted? Zillow Home Value IndexYou need the latest version of the Macromedia Flash Player.Download the free Flash Player now!
More Las Vegas Home Values … (0 comments)

las vegas first time buyers: www.lasvegasmtg.com Report: Open House 03/20/2010 in North Las Vegas, Nevada 89031 - 03/18/10 02:09 PM
Open House 03/20/2010 5912 MAGIC OAK ST, N. Las Vegas, NV. 89031   View Larger Map 5912 MAGIC OAK ST
North Las Vegas, NV
89031
3 Bed, 2.5 Bath, 2 Story
2 Car Garage
2146 Sq. Ft.
Built in 2007
136,500.00
Type: Single Family Residence
MLS #: 1012644
Status: Active-Exclusive Right
Open House Hours
10 AM to 2 PM 03/20/2010
      ML #: 1012644 Status: Active-Exclusive Right List Price: 136,500 Public Address: 5912 MAGIC OAK ST Bedrooms: 3 SqFt: 2146 Subdivision Name XP: SIERRA RANCH-VILLAGE 3 UNIT 1 Year Built: 2007 Zip Code: 89031
  Faces West Lot Sq. … (0 comments)

las vegas first time buyers: www.lasvegasmtg.com Report: Complete Renovation to this home in Las Vegas, Nevada - 03/12/10 09:48 AM
www.lasvegasmtg.com Report: Yesterday I had the opportunity to see a older home that has been transformed into a beautiful home with 2088 SQ. FT. Living area and a large 6,324 SQ. FT. yard which is by Las Vegas standards is unheard of. e This home will be the envy of everyone in the neighborhood and will not last long. It is nice to see that people can get past what something is and can see what it could be. The people that rehabbed this property should be commended on revitalizing an older neighborhood and inspire others that live in this community to take pride in ownership. This … (0 comments)

las vegas first time buyers: www.lasvegasmtg.com Report: Las Vegas Home Inventory for February 2010 - 03/08/10 01:35 AM

www.lasvegasmtg.com Report: Home inventories for February 2010 In Las Vegas, Nevada still are very low compared to the beginning first quarter of 2009. This is based on current demand for homes in Las Vegas, Nevada with about two to three months supply. There are many who feel that there is a shadow inventory of homes that have not come to market yet, and others feel the banks are working harder to keep people in their homes.
What ever the case is for low inventories, home buyers are out in full force with warmer weather, and the first time home buyers … (0 comments)

las vegas first time buyers: lasvegasmtg.com Report: Open House 03/06/2010 10 AM to 2 PM 5004 CAMINO DEL SANTO PKY N. Las Vegas, NV 89031 - 03/02/10 02:18 PM
Open House 03/06/2010 5004 CAMINO DEL SANTO PKY N. Las Vegas, NV 89031   5004 CAMINO DEL SANTO PARKWAY
North Las Vegas, NV
89031
3 Bed, 2 Bath, 1 Story
2 Car Garage
1502 Sq. Ft.
Built in 1993
99,900
Type: Single Family Residence
MLS #: 1019439
Status: Active-Exclusive Right
Open House Hours
10 Am to 2 PM
      <Previous Next> ML #: 1019439 Status: Active-Exclusive Right List Price: 99,900 Public Address: 5004 CAMINO DEL SANTO PARKWAY Bedrooms: 3 SqFt: 1502 Subdivision Name XP: LA QUINTA SPRINGS Year Built: 1993 Zip Code: 89031
… (3 comments)

las vegas first time buyers: lasvegasmtg.com Report: Open House 03/06/2010 10 AM to 2 PM 4712 Vista Del Rey CT. N. Las Vegas, NV 89081 - 03/02/10 02:10 PM
Open House 03/06/2010 4712 Vista Del Rey CT. N. Las Vegas, NV 89081   4712 VISTA DEL REY CT.
North Las Vegas, NV
89031
3 Bed, 2 Bath, 1 Story
2 Car Garage
2150 Sq. Ft.
Built in 2004
109,900
Type: Single Family Residence
MLS #: 994401
Status: Active-Exclusive Right
Open House Hours
10 Am to 2 PM
      ML #: 994401 Status: Active-Exclusive Right List Price: 109,900 Public Address: 4712 VISTA DEL REY CT Bedrooms: 3 SqFt: 2150 Subdivision Name XP: LONE MOUNTAIN & COMMERCE-UNIT Year Built: 2004 Zip Code: 89031
  Lot Sq. Ft. 6,098 Faces East … (2 comments)

las vegas first time buyers: lasvegasmtg.com Report: Open House 03/06/2010 617 FIESTA DEL REY AVE. N. Las Vegas, NV 89081 - 03/02/10 02:02 PM
Open House 03/06/2010 617 FIESTA DEL REY AVE. N. Las Vegas, NV 89081   617 FIESTA DEL REY AVE
North Las Vegas, NV
89081
3 Bed, 2 Bath, 1 Story
3 Car Garage
1655 Sq. Ft.
Built in 2007
156,450
Type: Single Family Residence
MLS #: 1018959
Status: Active-Exclusive Right
Open House Hours
10 Am to 2 PM
      ML #: 1018959 Status: Active-Exclusive Right List Price: 156,450 Public Address: 617 FIESTA DEL REY AV Bedrooms: 3 SqFt: 1655 Subdivision Name XP: NORTH FIFTH & DONNA Year Built: 2007 Zip Code: 89081
  Faces South Lot Sq. Ft. 6,098 … (0 comments)

las vegas first time buyers: Open House 03/06/2010 709 FIESTA DEL REY AVE, N. Las Vegas, NV. 89081 - 03/02/10 01:38 PM
Open House 03/06/2010 709 FIESTA DEL REY AVE, N. Las Vegas, NV. 89081   709 FIESTA DEL REY AVE.
North Las Vegas, NV
89081
4 Bed, 3 Bath, 1 Story
3 Car Garage
1931 Sq. Ft.
Built in 2007
159,900.00
Type: Single Family Residence
MLS #: 1019326
Status: Active-Exclusive Right
Open House Hours
10 Am to 2 PM
      Open House 10 AM to 2 PM 03/06/2010 ML #: 1019326 Status: Active-Exclusive Right List Price: 159,900 Public Address: 709 FIESTA DEL REY AV Bedrooms: 4 SqFt: 1931 Subdivision Name XP: NORTH FIFTH & DONNA Year Built: 2007 Zip Code: … (0 comments)

las vegas first time buyers: Open House 02/27/2010 10 AM to 2 PM 5912 MAGIC OAK ST, N. Las Vegas, NV. 89031 - 02/23/10 12:37 PM
Open House 02/27/2010 5912 MAGIC OAK ST, N. Las Vegas, NV. 89031   View Larger Map 5912 MAGIC OAK ST
North Las Vegas, NV
89031
3 Bed, 2.5 Bath, 2 Story
2 Car Garage
2146 Sq. Ft.
Built in 2007
136,500.00
Type: Single Family Residence
MLS #: 1012644
Status: Active-Exclusive Right
Open House Hours
10 AM to 2 PM 02/27/2010
      ML #: 1012644 Status: Active-Exclusive Right List Price: 136,500 Public Address: 5912 MAGIC OAK ST Bedrooms: 3 SqFt: 2146 Subdivision Name XP: SIERRA RANCH-VILLAGE 3 UNIT 1 Year Built: 2007 Zip Code: 89031
  Faces West Lot Sq. … (0 comments)