Move To The Balloon

Housing Market Recovery, Do We Have a Plan?

TimKuptz — Thu, 08 Nov 2012 22:41:55 +0000

Dave Liniger, Founder and Chairman of RE/MAX, challenged both presidential candidates to step up to the plate and lay out a plan to right America’s housing market. Liniger questioned how the candidates focused their debates solely on the economy and unemployment while continuing to ignore the issue of the housing market. He challenged the candidates to give the American people a plan of action for how we will move forward and use the market to boost the economy as we have time and time before. Liniger said “housing does have the ability to promote a stronger overall recovery if it is allowed to do so, but it will take real political leadership in the White House and Congress to acknowledge this fact and take the appropriate steps.” There was an overwhelming response to Liniger’s remarks, and the vast majority of respondents support Liniger’s views, saying it’s time to stop the avoidance of important issues. Click here to view the discussion and Liniger’s letter challenging the White House and Congress to address the issues of the housing market. Share your thoughts on Liniger’s letter and the market.

Foreclosures Falling Down

TimKuptz — Tue, 30 Oct 2012 18:38:24 +0000

Nevada is no longer a leader in the number of foreclosures. Reports generated in the third quarter show Las Vegas may be past the worst of the housing market’s foreclosure problems. Foreclosures have dropped to 13 percent of total sales and banks are now approving more short sales. To find out where Las Vegas fell on the list click here and share your thoughts of where the housing market is moving.

Settlement Key to Recovery

TimKuptz — Wed, 10 Oct 2012 16:17:57 +0000

Recently, the HUD Secretary Shaun Donovan spoke at the Asian Real Estate Association of America convention at Bellagio regarding how to help American homeowners get back on track. Donovan stated “the $25 billion national mortgage settlement is key to that goal, along with refinancing mortgages and reducing principal for those who are deeply underwater.” Another bill that is currently being reviewed by congress would help homeowners whose loans aren’t backed by Fannie or Freddie Mac or any other government entity. Since the Home Affordable Refinance Program (HARP) was modified in November by President Obama, the number of Nevada homeowners who have applied for mortgage refinancing increased 260 percent helping Nevada fall out of the ranking as Number One in Foreclosures. For the full article please click here and share your opinions with us. How would you be affected by the settlement?

New Take on Real Estate

TimKuptz — Thu, 13 Sep 2012 17:07:00 +0000

The National Association of REALTORS® (NAR) has been reaching out internationally for almost a year now through their official website and a new wave for the housing market has been achieved. International buyers are now accounting for $82.5 billion of residential purchases up 24 percent from 2011 being drawn in by lower prices and snatching up what they can while the market emerges! To find out where buyers are looking to buy and where Las Vegas fell on the most searched by non-U.S. consumers follow this link. Share your thoughts on the housing market, do you feel it’s getting better or we still need more time?

Las Vegas Looking Up

TimKuptz — Wed, 22 Aug 2012 21:47:24 +0000

According to data, Las Vegas is no longer holding the top stop for the most foreclosures. We have dropped to sixth in foreclosure rates and for the sixth straight month prices rose throughout the valley. Local experts predict prices should stay at the same rates they are at now for at least the next year and a half. Due to the many homes still in default, based on the logjam of defaults due to Nevada’s law AB284 and other market manipulating factors. A strong buying opportunity may be here for some time to come. Good deals pop up daily throughout the valley. Is this good news for the market? What are your predictions for Las Vegas over the next year? Share your thoughts below and for the full article click here.

Pursuing Help for Vets

TimKuptz — Fri, 27 Jul 2012 17:42:46 +0000

Congressman Joe Heck has sponsored a bill to help some disabled veterans get adequate housing aid. Some veterans lack disposable income and are able to get housing benefits if they do not have sufficient pay to provide housing for themselves. However, when the veteran receives this allowance it is applied to his total income. This then lowers the amount for which he is qualified because the allowance is based on income. This bill allows the veteran to receive the amount allocated without this offset? Seems to be only fair Congress should approve this bill quickly. Share your opinion and for the full article follow this link.

Speeding up Short Sales

TimKuptz — Thu, 26 Jul 2012 16:08:53 +0000

Recently a bill was introduced to help expedite the short sale process by asking secondary lien holders make a decision within 45 days, if they fail to do so, the short sale will be approved on the 46th day. The National Association of Realtors (NAR) strongly supported the bill. Secondary lien holders have been holding up the process by trying to get the largest amount possible. For the full article please follow this link and share your thoughts on this new bill and what it would do for you?

Negative Equity Falling, Prices Rising

TimKuptz — Fri, 20 Jul 2012 18:46:40 +0000

Las Vegas has definitely felt the brunt of the economic recession! This comes as both good and bad news, with more Las Vegas owners’ negative equity reducing as prices continue to rise. However, it be a slow process because Nevada has the highest negative equity in the nation at 61 percent.. Las Vegas is still one of the most undervalued markets in the country. To read the full article click here. What is your take on these statistics; share your comments with us!

Supply and Demand

TimKuptz — Wed, 11 Jul 2012 16:14:07 +0000

Las Vegas median price rose to $132,000 making it the fifth straight month that prices have increased and claiming the longest upward streak in eight years! Compared to last year prices have increased almost six percent and with the lack of inventory it isn’t certain which direction the market is heading. What does this mean to you? Share your thoughts and for more information follow this link.

Banks Getting it Together

TimKuptz — Wed, 20 Jun 2012 18:33:20 +0000

May was the first month since the housing crisis began that short sales outnumbered foreclosures. Banks are also providing incentives for completing short sales by giving some sellers between $2,000 to $30,000 for relocating. It seems that the new Robo-Signing Law is helping short sales become the most popular alternate to foreclosure. Do you think the new law is really setting our housing situation the right track?? Share your thoughts with us and for the full article follow this link.