One of the best area’s in Southwest Las Vegas Nv!!! Central to everything and within walking distance to schools and parks! This 3bdrm 2ba single story home has new 12in tile throughout living areas, Ceiling fans in each room for your confort, has been freshly painted, Fireplace in living area, Kitchen has granite countertops with 3 seat bar, Smart efficient floor plan, All appliances included including washer and dryer, Mature landscaping no grass for low maintenance with small shed for storage, Covered patio for shade, Garage has epoxy coating and storage space, Very clean home and ready for immediate occupancy. Owners will consider 1,150 per month, no pets, no smoking and tenants will have to purchase renters insurance. If interested in this home please contact me at JCarrion@Century21.com

We recently have taken on a client whom purchased a property through us and then turned around and wanted our property management to handle it as a rental. The issue was is they already knew to whom they wanted to lease it out to which was a family member! Now mind you this is not at all uncommon and having dealt with this before it can be a bit like walking on eggshells you have to really be careful as to how you lay down the law so to speak.  In fact we try to discourage this practice even going as far as giving the “Going in to business with family” speech but to no avail. We had to really look at both parties involved and speak with them on a one on one basis and found that they both felt the same way where this was concerned that by having a third party involved they felt this was beneficial to all. They looked at a couple of important aspects of aspects of this venture and one being that if something broke down at an odd hour that we had vendors already in line to fix anytime of the day or night.  As long as both mature parties are aware of every vital aspect of the transaction and are in favor the outcome for a successful deal is possible and which in turn makes this the right decision for you.

We started our day early 8:20am to be exact. Took our darling daughter to school and then checked and answered all our 50 some emails. Called title companies, banks, lending institutions, Real estate Agents, and clients.  Upon checking emails we had a long awaited short sale approved looked over all the documentation for that and found no issues then sent it out to all parties involved. Now will look up properties for tomorrow’s meet with client should be showing about 5 to 10 homes all this in the first hour and half of day love it!!

If you are having trouble paying your mortgage each month then you are one of 450,000 homeowners nationwide with this same problem!  When you get paid each month do you ever have enough money to save for a rainy day or for that matter just have any money at all left over? One sure way to figure if you are in over your heads with your mortgage payments each month is this. Write down your gross pay for each month and then multiply that by 31% the answer is what you should be paying each month for your mortgage or less. Right now because of the amount of homeowners that are in over there heads with their mortgages banks are offering a number of programs to assist homeowners with this problem and you should check with your lender to find out what program you may qualify for.  We will offer some sound advice to you on this matter, before you jump into a program of any kind “do your research” as some programs can cause a homeowner more harm than good!!

Apparently in the 3rd quarter part of this year there has been an increase in homeowners that have transitioned from current on their mortgages to delinquent. These statistics come from homeowners whom have received home foreclosure notices on their credit reports.  With this happening we could be seeing allot more short sales hitting the market real soon. From what we are gathering we should start seeing this happen in December sometime as the banks foreclosure fiasco should be coming to an end by then.

Today the average price for a previously owned home in the Las Vegas area was is $130,000 for a foreclosed home you are looking at $136,000.  The average price for new homes are$245,000 and where can you buy a condo for $40,000 to $50,000 and that are in some pretty decent areas as well no where but Vegas Babie.  Short sales and foreclosures still dominate the market and the interest rate dropped slightly again to 4.23% What a great time to buy.

We have been listing and purchasing short sales for clients for going on two years now. When we got into this area of real estate back in January 2009 agents were turning away these  kinds of listings they wanted nothing to do with these type of listings. They were not only turning them away we were whom they came to for answers and then also listed them for these agents with a 25% to 30% cut of course.  What we have learned over the year or so is that to be an experienced short sale agent you need to have knowledge of how each lender operates . What we mean by this is learning what the percentages of the mortgage loan balance certain lenders will approve and will not approve and what lenders will work well with others. This will give you an idea on how to list the property and whom you will be trying to target sell your short sale listing. This also goes for when you have a buyer and you are looking at short sales you will have more due diligence to cover with the short sales in that you will have to know the questions to ask the listing agent before showing your client this property.

The median price range dropped slightly to $129,900 in Las Vegas this week. The interest rates  for a 30yr fixed rate dropped again this week to 4.265% with the 15yr fixed rate rising a bit to 3.779%.  Short sales still dominate the market but with the the foreclosure fiasco with the banks it seems that buyers are leery of short sales even more than they have been in the past. Word has it that the banks are not stopping the foreclosures in Nevada as there does not have to be a judge to sign off on the foreclosures in this state. Most buyers are not willing to wait around the time that it takes to wait on a short sale and the bank owned homes move much quicker so this is the route buyers are leaning more towards as the prices are no difference from a short sale.

Right now is a really good time to purchase an investment property in Las Vegas Nevada. With the interest rates at an all time low and the prices of real estate at rock bottom prices your long term real estate porfolio should be getting a really strong look over right now.  Here are a few benefits to owning an investment property #1 is Income: Generating a positive cash flow in a distressed market which is beginning it’s level  is very possible as long as the numbers are right. #2 is Equity: Building up your equity with a tenant paying your mortgage. #3 is Tax Savings:  There are tax laws which will provide shelter for depreciation just in case the market depreciates a little further. #4 is  Appreciation: The market right now is still showing signs of slight depreciation in some areas but in other areas we are seeing it level out completely and with renters out there paying higher rents you could see a positive cash flow right away.

The banks are halting foreclosures due to pressure from congress. Recently the banks have been in trouble again due to a former employee of Bank of America admitting to pushing files through to foreclosure without even looking at the circumstances, not even opening the file just stamping foreclosure on it and moving on to the next. The employee stated that the reason for this was that there was not enough staffing to go through each and every file. For those of us listing short sales we are not at all surprised at these allegations against Bank of America. The most famous line the employees with Bank of America have been taught to say is “It’s with the Investors!”.  When you have other agents calling you on your listings and the first question out of  the mouths are “Is the lender Bank of America? Yes “Click” This has been happening for at least a year now. Let’s be honest though is there any entity out there that will be able to make the banks do what is right. We all believe that this greed started from the top and then to add insult to injury even started at the top with bail outs. Now is the time that the common people get theirs,  it’s time to get this mortgage fiasco which was created by our society’s big business greed under control but who will do this?