Archive for the ‘las vegas real estate general’ Category

The home buyer tax credit has been extended one year for military members who are on extended duty and have a binding sales contract in place on or before April 30, 2011 and closed by June 30, 2011.

For anyone deployed at Nellis or Creech AFB in Las Vegas Nevada give us a call and we can work with your USAA Lender or recommend others who can assist with your VA Loan.

There are many new homes up in the North Las Vegas area just minutes from the base.

Thanks

Olivia

The extension of the tax credit still has not been passed, it was part of a much larger jobs bill that did not pass late thursday night.  We will keep you posted.

Thanks

REALTOR® Magazine-Daily News-FHA Relaxes Anti-Flipping Rule.

Yesterday, the RJ posted a small piece buried in the back pages talking about the meager 15% or so that some banks have modifyed loans and others have modified ZERO.  Yes that is right ZERO,  they have taken the bailout money and not modified ONE LOAN.

Download the article and pdf…

If you aren’t serious angry with the oversight and they way the banks are flagrantly using taxpayers money for their own purposes something is seriously wrong.  I have more articles posted on www.OliviaSellsVegas.com under Investors that shows how Bank of Ameria invested Billions just weeks after receiving the bailout money,  the ex-countrywide executive who left and took employees only to start a company which business model was to buy bad loans and resell them for a profit.  Are you kidding me?

In one of the articles the writer posed a question:  “Would a bank give you a loan without knowing how you were going to use it?”   Of course not so why did the Obama Adminstration give out Billions with no guarantee they used to assist www.hopenow.com or help for homeowners?

Admin

What has your mortgage holder done for you lately? Is it Wells Fargo, Indy Mac, Bank of America AKA Countywide, or host of others. Some of the smaller ones are participating in the myrid of programs put out by Obama but the big ones aren’t participating.

Have you tried to do a refi or a loan modification? Been denied?

Have you had to fax documents into your mortgagee and they don’t respond or get your faxes. When you call in to ask they tell you 21 days to get faxes imaged into the system and call back.

Give me some feedback of what you are hearing whether you are doing it yourself a real estate agent or attorney.

Knowledge is Power.

http://www.hopenow.com

Bad loans still make money | Marketplace Scratch Pad | Marketplace from American Public Media.

$877 PAYMENT FOR SOME NEVADANS

About 3,500 Countrywide Financial borrowers who lost Nevada homes in foreclosure can expect to receive checks for about $877 each early next year, the attorney general’s office said Friday.  Click on Article Link Below

Read full article here by
JOHN G. EDWARDS LAS VEGAS REVIEW-JOURNAL

Great News for First-Time Home Buyers!

HUD recently announced that qualified First-Time Home Buyers who want to take advantage of the available tax credit of up to $8,000 now have another option available to them to help them become homeowners.

It’s clear that first-time home buyers have been having a major impact on the housing market this year. The National Association of Realtors announced that first-time buyers, who typically account for less than 40% of home sales each year, have been especially busy…in March, homes that were purchased by first-timers accounted for 53% of all sales, and this percentage is expected to hold true for all of 2009.

With home affordability higher than ever, available tax credits and some of the lowest interest rates ever recorded for home loans, who can blame them? Particularly as a first-time buyer, there may never be a better time to buy a home than right now.

However, the availability of a tax credit, while a great incentive, does not put the money in the hands of a buyer right away. HUD’s announcement now allows for prospective and qualified home buyers to borrow the money from approved agencies and lenders.

While details of participating lenders and HUD-approved agencies are not yet available, this should turn up the heat on prospective buyers to get busy searching for their next home. As further details become available, I will get them to you.

In the meantime, alert your database that one more barrier to homeownership is being removed and the time to start shopping is now!

Sincerely,

Matthew Mauzy
Signature One Mortgage
(702) 453-1111
mmauzy@sigonemtg.com

Bank of America, which bought Countrywide Home Loans last year, has officially changed the lender’s name to Bank of America Home Loans. So if you have an old countrywide lenders email address that was name_lastname@countrywide…. be sure to update it to name.lastname@bankofamer….  so it get’s to them.   Now whether or not the look at it or add it to the file is a whole nother story.

Frank Ghery – Lou Ruvo Brain Institute

LOAN MODIFICATION: Plan aims to help homeowners threatened with foreclosure
Loan modification plan aims to help homeowners skirt foreclosure By HUBBLE SMITH
LAS VEGAS REVIEW-JOURNAL – Read this article online or view highlighted areas on a pdf version I have marked so you review some of the hot topics.

On a day to day basis working with multiple banks via loan servicing companies like countrywide, spf and others help is not coming soon. The bills passing bailing out big businesses is just that leaving you and I the tax payers paying the price.    More to come as new programs are being released

Heard this somewhere, a funny comedian…

“Next time your buddy asks you to mooch a ride to the airport, crash at your place or help him move, tell him/her the following:

You are a grown up, so

- Call a Cab
- Rent a Room
- Hire a Mover”

President Obama announced changes new changes in the pipeline some becoming available March 4th.

The President spoke about curbing the tide of foreclosures and creating jobs.  The programs backed by Freddie and Fannie will focus on owner occupied properties using refinancing and other methods to keep families in their homes.    The President made it clear there would be no assistance for speculators, flippers or people who obtained loans who should have gotten them.  See Release by Associated Press Below.

The foreclosure market in Las Vegas has slowed down allowing buying to come off the fences and pickup inventory at 50% of what it was 5 years ago.   Homes that sold in 2006 for $680k you can now purchase at $250k on 1/3 acre lots.

There is a lot of research out there that another wave of foreclosures is coming not ARMs resetting but owners who cannot justify paying a mortgage on a $900k property while their neighbor who just moved in is paying for the same property $400k.  It dosent make sense.   It comes down to a business decison.   Investment properties and primary residences alike. 

The question is “What would Trump do?”

There are auction sales, foreclosure bus tours, seminars selling books and tapes on how to buy a foreclosure with no money down (*not sure where they are getting their loans) and a multitude of other sources that pop up on radio, tv and in the mail.

First, you have to decide are you going to live in it or use it as a rental property. If you are going to buy it as an investment do you want to be a landlord or use a property manager. If you live out of state you must have someone on emergency contact with in 60 miles. A licensed real estate agent, and permitted property manager will take care of that + collect your rent, screen tenants, work with the HOA and be your presence looking out for your investment.

If you decide to live in the property you need to evaluate your property differently. If you have kids checking the school zones, crime rates, master planned assesments, etc. A big question is: “Is this a community I want to live in?” Just because I can buy this cheap house does it meet my overall goals.

These are all questions you need to ask yourself and consult with a licensed real estate agent, REALTOR® and property manager with experience.

Give me a call to discsuss your overall goals and work with a professional with over 20 years experience in the real estate industry. Call Olivia at 702-372-2671.

Olivia McClellan, REALTOR®, ABR, CRS, GRI, RRG
Broker/Owner, Property Manager
Triple8 Associates Inc.
5940 S. Rainbow Blvd. Ste 1007
Las Vegas, NV 89118
Direct 702-372-2671
Fax: 702-948-5790
Visit me online at www.Triple8Associates.com

 

700 condos under construction in Southwest at the 215 and Russell are now on hold.

Funding has reportedly dried up for the $350 million Manhattan West Project. Gemstone Development says its facing increased costs including charges to rework parts of the project that weren’t built correctly. It’s uncertain when new funding can be secured and the sales center remains closed. Keep it tuned to Channel 13 Action News.

NVAR Leadership 2008 program is over but there is still time to apply for next years class.   For more information: please visit www.nvar.org

If you are in the market for a new home give us a call because there are multiple builders with standing inventory they need to blow out before end of year.

This means multiple incentives including buy downs, upgrades, special financing options and more.    As the end of year closes please make sure to call in advance if you would to tour Las Vegas New Homes.  Due to the holidays our time is booked in advance in consideration of holiday season and builders closing early and on certain days.

Thank you for the opportunity to serve your Las Vegas real estate needs.

December 11, 2008 News Release
Contact: Sally Young For Immediate Release

Olivia McClellan Graduates from Nevada Association of Realtors® Ninth Leadership Class

Olivia McClellan of Triple8 Associates Inc. in Las Vegas successfully
completed the LeadershipNVAR 2008 program offered by the Nevada Association of REALTORS® (NVAR). The graduation took place on December 11th at the Green Valley Ranch in Las Vegas.
The comprehensive program is designed to identify emerging leaders and assist them in sharpening their leadership skills through a series of workshops held throughout the year. Individuals who graduate from this program exemplify effective leadership skills.
Participation in LeadershipNVAR, which includes four multiple-day workshops throughout the year, is open to REALTORS® living in the state of Nevada. Participants are chosen through the LeadershipNVAR Selection Committee based on community and real estate involvement in addition to vision for the real estate profession.
More information on the program can be found on the website of the Nevada Association of REALTORS® – www.nvar.org

The luxury condo complex Mira Villa is coming out of Bankruptcy with approval to complete 113 units.

Mira Villa is located near the JW Marriott, Queensridge and the up and coming Tivoli Village near Boca Park. Great location. More details to come.

Give us a call to review your real estate goals and focus on properties that will meet your needs. We are in contact with many developments with end of year specials so take action and call us at 702-372-2671.

We have noticed that more and more REO properties are being fixed up by the bank.   Over the past 6 months 70% of all sales have been REO properties so those properties were probably in better shape than what is left.   We have been doing REO tours over the past 3 weeks and we have seen a ton of properties in bad shape with DOM stats ranging in the high 7 months plus.

So we have seen crews in condos and single family homes putting low grade carpet and paint which is just enough to get it sold.

A good sign the market is turning and banks have adjusted to the market.  Their adjustment was like making a u-turn in a aircraft carrier which dosent turn on a dime.   Good news all in all.

Concordia Homes of Nevada has closed its sales offices and said they will be refunding deposits on homes that have yet to start construction, as reported on the Review Journal via an industry source.

The Henderson-based home builder has not gone out business and has not filed for bankruptcy, but it will not be selling any new homes, Home Builders Research principal Dennis Smith said.

If you are considering purchasing a new home do your homework or give us a call at Triple8 Associates. We keep a close eye on the best deals in the New home Sector. Search New Homes Here or give us a call at 702-835-9298.