‘Safe Mortgages’ Might Not Be So Safe…

‘Safe Mortgages’ might not be so safe… Federal agencies have proposed credit-risk retention provisions which would require home­owners to have at least 25 percent equity to qualify for a lower refinancing rate. Nevada would feel a big impact wiping out over 80% of homeowners who don’t have 25 percent equity required....

Damaging Foreclosures Will Be A Crime!

Taking effect October 1st a new law stating that defacing homes in foreclosure will be a crime. Home owners who purposely damage their home could face up to $1,000 in fines, so before acting in anger think twice for the full article please follow this link...

Housing Starts to hit Five-Month High

This ecomony we are in has had it’s ups and downs, more downs it seems. But overall, it looks like the housing market is going to keep getting better. From a recent article from the National Journal we are up 16.7 % from June 2010 for construction on privately owned homes. That is music to our ears especially with Las Vegas being a top spot...

Investors Flock to Vegas

Las Vegas sales peaked in 2006 and are now down almost 50%, but in a recent study from HomeVestors of America and Local Market Monitor Las Vegas came out on top. With our housing prices being so low it allows investors to get homes with more accomodations and in turn renters more to choice from. For the full article please follow the...

Will Las Vegas housing take 20 years to recover??

It appears the current housing crisis that we have all felt in some way might stay that way for awhile. According to Moody’s Analytics report Las Vegas will not see the housing market turn around until 2030 compared to the markets peak in 2006. Some are skeptical saying this is an exageration of what the housing market will do but only...

Las Vegas Unemployment Reaches 15%!

The State of Nevada has released their unemployment rates for September which are attached along with a commentary in a different format which you will find below.  I will highlight some areas that I find interesting.  The first 2 lines of paragraph 3 which I have copied and pasted below are unusual in that I do not recall the State of Nevada...

Taxable Sales Up – First in 19 Months

It’s been a very long time.  The trend line has been going down for so long for taxable sales in Clark County it is a major breath of fresh air to see a gain.  Las Vegas has been the hardest hit major city outside of Detroit in this economic downturn.  Read the Las Vegas Sun story here...

Nevada is #5 for Doing Business in the States!

The Silver state has been ranked the fifth best place to do business by Chief Executive magazine.  Cost of labor, low real estate prices for homes and office space and our tax climate are favorable for business accoridng to the article.  Great news for the Las Vegas area!  Read the article...

Fannie and Freddie Outline their HAFA Program

GSEs Fannie Mae and Freddie Mac have issued HAFA guidelines to companies that service their loans.  The HAFA program are guidelines encouraged by the federal government beginning in April 2010.  Fannie and Freddie were allowed to set their own guidelines.  DS News reports the following...

April Closings Reveal Increased Short Sale Activity

The Las Vegas real estate market continues to shift to a more short sale oriented market.  April 2010 number’s reveal 33.5% of all detached housing closed for the month were short sales.  This is up significantly versus last year where 12 to 13% was the market share.  REO home closings are down to 54.1% of total closings.  This...