WILL YOU BE KICKING YOURSELF 5 YEARS FROM NOW FOR NOT BUYING A HOME? I remember the days in 2003, 2004 and 2005 when buyers were all saying, "I wish I would have bought in 2000". Now we all know that the market got extremely overheated and prices went nuts. I'm not hoping for that market again, but I am seeing signs of improvement in our market and I wonder if we aren't at a point when in 4-5 Continue Reading
economy - Page 2
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
Convergence
CONVERGENCE As you may remember from previous Newsletters, I enjoy the outdoors and walk daily. I trek down the same trail each day never getting bored with the scenery and apparent safety of the route. The routine adds a sense of security and solitude, creating a mental atmosphere that is conducive to my wandering thoughts that seem more significant and worldly wise than they really are. Today I Continue Reading
A Prescription For Life Challenges
A PRESCRIPTION FOR LIFE CHALLENGES More than ever in my life I have been challenged to remain well grounded. This is not intended to be a confession but a declaration of fact about the world that surrounds me. So many of my friends and business acquaintances have expressed that the challenges of family, work and finances are overwhelming. From a macro standpoint, the challenges of our Country and Continue Reading
The Season Begins
THE SEASON BEGINS April is a month of change for many reasons. Most obvious is the annual weather adjustment from the bitterness of the cold and absence of color to the gentle nighttime temperatures, which bring the overnight explosion of the flowering fruit trees. For those of us that are homeowners, it is now that we prepare our checklists for those minor repairs that have been put on hold 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
If I choose Bankruptcy, does that mean I should not consider a Short Sale ?
IF I CHOOSE BANKRUPTCY, DOES THAT MEAN I SHOULDN'T CONSIDER A SHORT SALE? While I believe this a question for someone's attorney, I believe that the answer is very often going to be yes. I have lately been listing homes for clients that have come out of bankruptcy and decided to sell their homes through a short sale. The reasons vary but mainly they came to the conclusion with the advice of Continue Reading