Las Vegas Market Update February 2012

There were a total of 3,530 Single Family, Condo’s and Townhouses closed in the month of December Resale 915 - 26%       Short Sales  990 – 28%       REO 1625 - 46% 1,833 Cash purchases 786 Conventional Financing 709 FHA Financing 152 VA FinancingJust a year ago there were more than...

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Las Vegas Real Estate Market Report: 02/15/12

Las Vegas Real Estate Market Report: 02/15/12This is the latest Las Vegas Real Estate Market Report from www.NARREIA.com (National Association of Residential Real Estate Investment Advisors). For the week of February 15, 2012, data is obtained from the Greater Las Vegas Association of Realtors MLS.Single Family Residence (SFR) Available – 7,790 (-334, Last Week...

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What is the fair market value of my home?

What is the fair market value of my home? These are two very common questions when people are considering selling a home. Talk to any real estate agent, and the first thing they'll tell you about calculating home value is that location is a big factor, but not the only factor. After the big real estate crash many people are asking themselves, ôWhat is the fair market value...

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Las Vegas Foreclosure Options and Solutions for Homeowners in Distress

Las Vegas Foreclosure Options and Solutions for Homeowners in Distress The current US housing market and national financial crisis have caused untold stress and heartache for many American families especially homeowners here in  Las Vegas facing foreclosure. Foreclosure is one of the most devastating financial challenges that a family can face and one that...

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Home Affordable Modification Program (HAMP) Updates and Extension

Home Affordable Modification Program (HAMP) Updates and Extension January 27, 2012 The following is an overview of the recent changed announced by the Treasury department which extended and broaden the reach of the HAMP program under the Making Home Affordable Act of 2009 For more information about the alternatives to foreclosure call Makea Turner with Keller Williams...

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3 Reasons the Term “Strategic Default” Is Misleading

                3 Reasons the Term “Strategic Default” Is Misleading In a recent study, the Chicago Booth/Kellogg School Financial Trust Index found that a full 36% of Americans would consider “strategic default”—another term for walking away from your mortgage—if they were underwater (owed more on their home than what it was...

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Las Vegas Luxury High Rise Condo February Update

Just a little over 30 days into the 2012 and there have been over 55  Vegas high rise condos sold according to the MLS. That is roughly 2 condos sold each day here in Las Vegas. The most active high rise condo community in regards to sales is still MGM signature condo hotel, which means that owners have an opportunity to enroll their condo into the hotels rental program...

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Are you living under the cloud of Foreclosure

It’s a sign of the times!Most of us grew up thinking that if we planned well and played by the rules, we’d never have to stand by as our financial lives unraveled.  But upheaval on Wall Street, unacceptable rates of unemployment and plummeting real estate values have taken their toll.  Since 2007, 7.9 million homeowners have lost their homes to foreclosure. Current...

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Short Sale vs. Foreclosure? You make the call!

Short Sale vs. Foreclosure?You make the call! I get the question from people all the time: short sale or foreclosure, which is the better option? My knee-jerk reaction is always “Are you kidding? Short sale, of course!” This has been mostly because I was always under the impression that a short sale, although still a ding on your credit, was gentler on the score than...

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