Short Sale Process Continues to Frustrate
September 28th, 2011 categories: Foreclosures, Las Vegas Real Estate, Mortgage Relief, Short Sales, US Economy
Despite years of promises from the banks and various half-baked government programs that often did as much harm as good, the short sale process remains mired in lengthy processing delays that continue to play their part in hindering the overall housing recovery. A new survey from Inside Mortgage Finance has just confirmed what those of us in the profession already know; buyers are sick and tired of short sales and their average completion times of 16 to 17 weeks. Of course this 4+ month average......Continue Reading!
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A Housing Recovery Based on Investors and Renters
September 7th, 2011 categories: Foreclosures, Investing, Investment, Las Vegas REALTORS®, Las Vegas Real Estate, Las Vegas Trustee Sale
It seems increasingly clear that the only realistic hope for the U.S. residential real estate market is the investor buyer. Unfortunately, there is no compelling evidence to suggest that owner occupiers will exist in anywhere near the necessary numbers (for a very long time) to absorb the inventory glut generated by the largest real estate bubble in world history. For those that would venture forth to buy a home for the purposes of building a life within that property, twin challenges of tighter......Continue Reading!
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A Paradigm Shift in American Society
August 20th, 2011 categories: Foreclosures, Investing, Investment, Las Vegas REALTORS®, Las Vegas Real Estate, US Economy
I suppose we should all be thankful for the recent political "deal" to avoid a catastrophic default by the U.S. government. The most immediate emergency has been avoided and many are breathing a well-deserved sigh of relief, but the truth is, to a large extent the damage has already been done. Concerned citizens in this country and interested observers abroad were justifiably shocked at how close the political system came to abject failure in the face of glaring national interest. It's......Continue Reading!
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Confidence is Key
October 29th, 2010 categories: Investing, Las Vegas Real Estate
“Consumer Spending” – what is it? For the sake of this post let’s say that it represents almost 75% of all of money consumers have spent in the U.S. that contributes to our gross domestic product (GDP). What is one of the biggest influences on consumer spending? A wonderfully elusive factor that is so difficult to peg down ... human psychology. Economists try to explain the collective psychological mood of consumers with tools and numbers that somehow measure confidence. Needless......Continue Reading!
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Beware the Consensus View
October 14th, 2010 categories: Foreclosures, Investment, Las Vegas Real Estate
Those who know me are rarely surprised when I question popular opinion or the "consensus view" on any subject. Sometimes in conversation I will express a counter point only as a joke hoping for a laugh while other times my seriousness can cause jaws to drop. One subject that may not be safe dinner conversation is residential real estate ... especially when my fellow diners refer to the latest “consensus view” they heard from a group of economists featured in......Continue Reading!
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No Fault Short Sales – Buying Into a Broke System
February 11th, 2010 categories: Las Vegas Real Estate, Mortgage Relief, Short Sales
…a common phrase which comes up in conversation when consulting with our short sale clients. For several months more and more homeowners have come forward gasping for information about short sales…and NOT because they lost their job or their mortgage rate adjusted higher. While there are still so many challenged with such financial dilemmas, the face of short sellers is truly evolving…increasingly the only dilemma for some is that their home value may NEVER recover during the time they own......Continue Reading!
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How to Find Out if a Las Vegas Home is in Foreclosure – A Video Tutorial
February 19th, 2008 categories: Foreclosures, Las Vegas Real Estate
"Is this house for rent?" At least once a week I get a phone call from someone who drove by one of my listings and wants to know if the house is for rent. My answer is always, "No, the house is for sale." As the conversation develops I find out that the caller is being evicted from their current house because the bank took it back from the landlord. The same landlord that had been collecting rent for the last 6 or 7 months without paying their home......Continue Reading!
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Mortgage Debt Tax Relief Not For All Short Sale Sellers
January 22nd, 2008 categories: Mortgage Relief, Seller, Short Sales
Las Vegans look around you. In many neighborhoods you could throw a boomerang and it will fly by several for sale signs before it comes back to you. Do one of those for sale signs belong to you? If yes, then there is a 1 in 5 chance that you are selling your home as a short sale. Can Homeowners Afford to Sell Their Homes As a Short Sale? Sellers of short sale properties have a lot of details to keep track......Continue Reading!
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Dunkin Donuts Perks Up North Las Vegas
January 22nd, 2008 categories: North Las Vegas Businesses
!-- _uacct ="" "UA-512485-1"; urchinTracker(); //--> Dunkin Donuts is invading North Las Vegas and all of the recent transplants from back east just couldn't be happier. According to some, many of us Westerners and Nevadans just don't know our donuts. To them, Krispy Kreme donuts are bad and Dunkin Donuts are not just good, they are nirvana. Of course, from my perspective as a native Westerner and Nevadan, it looks like to me like they are just pushing some sort......Continue Reading!
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Las Vegas REALTORS®: Sharpen Your Short Sale Skills
November 3rd, 2007 categories: Las Vegas REALTORS®, Las Vegas Real Estate, Short Sales
With the proliferation of distressed home sellers in the Las Vegas real estate market REALTORS® are adjusting to a new reality -- a buyer's market. Is this really new news? Las Vegas REALTORS® have had since spring 2006 to adjust so what in the market is "new" to them? In the simplest terms, SHORT SALES. FACT: In the Las Vegas Valley 1 in 5 homes for sale are now Short Sales. (more...)...Continue Reading!
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