With each passing week, our radio show broadcasts get better and better and April 20th's was no exception. We had wonderful guests join us in studio including Daniel Chung of Mass Mutual, Rick Saxen of American Best Insurance and Joey Toth of Pitbull Pest Control. In addition to the segments from our expert contributors that featured information regarding protecting your business assets, condo Continue Reading
downward market
Where are the homes?
WHERE ARE THE HOMES? The inventory of available homes here in Southern Nevada has been hovering around 4,000 for many months now. Buyers are wondering where all the homes are so they can buy again. The theory is that the "banks" are sitting on a lot of homes and they are going to release them soon. My colleagues and I don't believe the banks will release a lot of Vegas houses here. We don't Continue Reading
How long can I stay in my home?
HOW LONG CAN I STAY IN MY HOME? I'm often asked this question when listing a client's home as a short sale. With all of the changes taking place in the short sale market, it's difficult to have a set answer. The answer these days is less time than it was even a a few months ago. The bank that holds the mortgage wants the seller to stay in the home right up until close of escrow. Once we list a Continue Reading
Are appraisers helping investors?
ARE APPRAISERS HELPING INVESTORS? I know that I tend to beat up appraisers so let me preface this post by saying that I know some very fine and professional appraisers that don't deserve my comments. That being said, I need to relay a story that happens all too often. An FHA buyer submitted and had accepted an offer on a beautiful one story home in Summerlin. His offer was equal to the last Continue Reading
Las Vegas Real Estate Market Update April 2012
LAS VEGAS REAL ESTATE MARKET UPDATE APRIL 2012 Have you ever heard the saying "If you don't like the weather, wait a minute." Well, that applies to our real estate market too. The most recent development surrounds our current inventory. As of this moment we have 5,474 single family homes available in our entire multiple list. We have 13,113 single family homes in escrow. We have closed 3,195 Continue Reading
Will The New Legislation Put A Freeze on Foreclosures?
WILL THE NEW LEGISLATION PUT A FREEZE ON FORECLOSURES? We have all heard the doom and gloom being espoused about AB284. The legislation in general terms increases the responsibilities of the foreclosing entities. It asks them to provide a sworn affidavit and other elements with the intention of preventing incorrect and illegal foreclosures. The banks pushed back hard against this bill, but to Continue Reading
What Should I Do With A Low Offer On My Short Sale Listing?
WHAT SHOULD I DO WITH A LOW OFFER ON MY SHORT SALE LISTING? Short sales are unique in a lot of ways. One way they aren't unique here in Las Vegas is that the bank holding the lien will want fair market value for the home. The lien holder will recognize that they need to offer some discount for the inconvenience, but that discount is usually in the form of buyer closing costs or a couple of Continue Reading
What About This Market?
WHAT ABOUT THIS MARKET? I truly enjoy my work. I enjoy getting my sellers the highest possible check at close of escrow and I enjoy finding my buyers a great home and getting them a great deal. I also enjoy talking about my work. Whenever anyone finds out that I'm a Realtor, they invariably have questions for me. They usually are curious about the real estate market in general and will ask Continue Reading
Full Circle
FULL CIRCLE It was only 16 years ago that I relocated to the Las Vegas area. I feel like a native resident that has experienced a lifetime of changes to their once quaint town. The fluctuations in the real estate market have gone full circle. In 1995 we saw nominal appreciation with reasonable value to entice the newcomer. Just a few years forward in time the frenzy had started with values soaring Continue Reading
The “Short Sale & “Foreclosure” Bubble
THE "SHORT SALE & FORECLOSURE" BUBBLE I’m writing to let everyone know it might be the right time to let the bubble burst. Open your search for the “American Dream” and consider a new home. Most builders struggle in the end of the year to “make the numbers.” This means getting rid of their inventory homes and getting them off the books. Quite a bit of builders will be giving some great Continue Reading
