First-Time Home Buyer Tax Credit Extended For Armed Service Members

Originally written by Carla L. Davis The expiration date of the $8,000 first-time home buyer may have already passed for most, but there are some potential homebuyers who can still take advantage of this great opportunity. For those who are qualified service members, you have an extra year to cash in on the credit. Your new deadline is April...

Las Vegas Real Estate Prices Up Sharply-First in 3 years!

Was it the race to get the tax credit dollars or just the fact Las Vegas and Henderson real estate markets have had a tight supply for the last 9 months?  After 9 months, the effect of the basic economic principal of supply and demand actually materialized.  We have enjoyed near or below a 3 month supply of homes for quite some time. Prices of...

RE/MAX Urges Lenders to Release Properties Record Foreclosure Numbers Need to Be Tackled Head On

(Denver, CO, February 10, 2010) – Dave Liniger, RE/MAX International Chairman and Co-Founder, urged government and economic leaders to push lenders to release foreclosures to help speed the housing recovery. Liniger made his comments as a featured speaker at the Five Star Government Forum in Washington D.C. The Forum brought government and...

Las Vegas Housing is MOST Undervalued!

REALTOR Magazine published today a short news story about the 10 most undervalued real estate markets in the US.  Las Vegas real estate was #1 on this list by a followed by Vero Beach, FL at number 2.   With home prices now hovering about 65% LESS than their peak values, the pendulum has moved to past a reasonable price correction to extreme as...

New FHA Rules and Regs 2010

New FHA Regulations will reign in some risky borrowing by people with poor credit and little of their own personal funds.  FHA loans have been getting heat due to their low down payment and and liberal qualifying factors coupled with the declining values.  With room for prices to dip yet some more in the Las Vegas and Henderson real estate...

December Shortsale Closings Up!

There were 4055 real estate closings in greater Las Vegas in December 2009.  Shortsale closings BY market share are up 100% from the same month last year!  Why? Lack of REO inventory and higher prices in the Owner category.  REO is still the preferred seller as REO sale prices are higher on average and DOM (days on market) are lower than...

Las Vegas December 2009 Closings – by Term

4055 closings in the immediate Las Vegas real estate market in December 2009.  These do not include mobile homes or land.  Here is the breakdown by means for acquisition: Cash  40.5%,  FHA loan 29.8%, Conventional loan 23.4%, VA loan 4.8%, Other 1.5% Figures may add up to more than 100% due to...

Las Vegas Housing Values Stabilize – Year End Numbers

Reduced Inventory Levels Result in Stabilizing Home Values.  The Las Vegas real estate market ends 2009 with median prices essentially stabilized.  Year-end numbers are within 2 to 3 percentage points of May 2009 values with little or no change month to month.  Supply of available homes are down significantly from the previous few years.  This...

Unemployment Worsens as it Gets Better!

Commentary is from Jim Eggers.. The Nevada and the Las Vegas area numbers again improved this month, but not because we added jobs and got people working. I see where unemployment improved in 32 states and hopefully some are because people started working instead of people falling off the unemployment back side.  Nevada went from a work force of...

New Good Faith Estimate Regulations

Effective January 2010,  lending and closing companies are required to disclose and report costs associated with a real estate purchase and closing.  Julie Mock @ Bank of America shared this new piece prepared by Bank of America detailing the changes and explaining each change associated with the new GFE (good faith estimate) regulations. ...