Las Vegas Real Estate News

Beware of Las Vegas Short Sale Experts

The Myers Team — Thu, 31 May 2012 06:13:05 PDT

Las Vegas, Nevada -- In the distressed Las Vegas housing market, many Realtors and Attorneys are calling themselves short sale experts; however, many of these self-proclaimed experts have little or no experience closing short sale transactions. What criterion constitutes an expert?

A recent report named The Myers Team the #1 Short Sale Realtors in Nevada. Number one status was determined by actual short sale listings closed from January 1, 2007 through December 31, 2011.

According to the report, The Myers Team with the Caliber Realty Group has negotiated more short sale approvals and closed more short sale listing transactions than any Realtor or Broker in Las Vegas. The majority of these closings have been short sales with Bank of America.

The Myers Team is nationally recognized as one of the most influential figures in Real Estate today. According to Myers Team owner, Bill Myers, “Surrendering a home worth half of what you owe is NOT a failure, it's a business decision. A short sale is an opportunity for you and your family to take control and walk away free and clear. Nobody wants to lose their home; however, loan modification doesn’t work and there is no need to go down with a sinking ship. Homeowners need to know when to say enough is enough.”

Many Realtors proclaim themselves to be short sale experts; however, according to Myers, “A Realtor in Las Vegas can become a Certified Short Sale Expert by attending a one day class at the Board of Real Estate. The ability to be called an expert in any field should be based upon performance and consistent results; not based upon attending an afternoon seminar.” Myers added, “This would be the same as declaring yourself a ‘home run expert’ after attending a one-day baseball class yet never picking up a bat or actually hitting a ball.” The Myers Team has continually broken sales records, and when it comes to short sale transactions, they are considered by most experts to be industry leaders.

The Myers Team was an award winning Real Estate team at Century 21 for nine years; however, in 2011 they joined forces with the Caliber Realty Group. According to Myers, “Our Real Estate market has changed; however, most Real Estate companies have not. While most Real Estate Brokers are still learning how to do short sales, the Caliber Realty Group is backed by ownership that has been dealing with Banks and Loss Mitigation Departments for almost three decades.” Additionally, Myers said, “A short sale is one of the most complicated transactions in residential Real Estate and experience is everything. If you needed open-heart surgery, would you go to jack of all trades physician, or would you visit a heart specialist? The Caliber Realty Group specializes in short sale transactions. This experience allows Caliber Realty to provide a higher caliber of service and stand out in today's unique Real Estate market.”

Bill and Francoise Myers have helped hundreds of Las Vegas families avoid foreclosure. Myers said, “Sellers facing foreclosure must remember that banks are not looking out for you or your family. When you work with The Myers Team, our job is to get between you and the bank. We represent our clients, NOT the banks. It is our job to negotiate the best possible outcome. Ultimately, our job is to take away the stress, and make the transaction as smooth and stress-free as possible.”

Visit The Myers Team web site at http://www.NevadaShortSaleInfo.com

Also visit http://VegasShortSaleInfo.com

*Above production is based on results from January 1, 2007 through December 31, 2011 (short sale listing ends only.) The information provided is obtained from public records, it is deemed reliable but not guaranteed.

'Inman Innovators' through the years

inmannews — Thu, 31 May 2012 07:27:00 PDT

A complete list of Inman News Innovator Award winners since 1998

Nominate the 2012 Real Estate Innovators

inmannews — Thu, 31 May 2012 07:14:00 PDT

Awards honor those who boost industry productivity, efficiency and transparency

Las Vegas Real Estate Listings Now Available via LREP Mobile and ...

admin — Thu, 31 May 2012 00:48:12 PDT

Luxury Real Estate Partners today announced a partnership with Smarter Agent to provide Las Vegas Real Estate listings on smart phones and tablets. (PRWeb May 31, 2012) Read the full story at ...

Long time coming: Homebuilders are busy once again in Las Vegas ...

Olivia Leitch — Tue, 29 May 2012 07:44:08 PDT

Las Vegas homebuilders can't build houses fast enough these days to keep up with buyers' demand. Yes, you read that right. The.

Las Vegas Real Estate Listings Now Available via LREP Mobile and MyLvHomeSales.com

(author unknown) — Thu, 31 May 2012 00:48:12 PDT

Luxury Real Estate Partners today announced a partnership with Smarter Agent to provide Las Vegas Real Estate listings on smart phones and tablets. (PRWeb May 31, 2012) Read the full story at http://www.prweb.com/releases/2012/5/prweb9554106.htm

Las Vegas Real Estate Listings Now Available via LREP Mobile and MyLvHomeSales.com

(author unknown) — Thu, 31 May 2012 00:13:43 PDT

Luxury Real Estate Partners today announced a partnership with Smarter Agent to provide Las Vegas Real Estate listings on smart phones and tablets.Las Vegas, NV (PRWEB) May 31, 2012 Las Vegas Real Estate Listings Now Available via LREP Mobile and MyLvHomeSales.comLuxury Real Estate Partners today announced a partnership with Smarter Agent to provide Las Vegas Real Estate listings on smart phones ...

Zillow offering free agent websites

inmannews — Wed, 30 May 2012 21:01:36 PDT

MLSs may charge additional fees for IDX feeds

Summer Time Events In Las Vegas - Las Vegas Real Estate

admin — Wed, 30 May 2012 14:32:11 PDT

The Smith Center. The Cabaret Jazz at the Smith Center is inspired by the greatest live music clubs from around the world – Dizzy's to Feinstein's. You can grab a bite, lift a glass, relax and be entertained by some of the greats.

Why Not Add Luxury to Your Las Vegas Home?

Mark Karten — Wed, 30 May 2012 05:23:34 PDT

When the Las Vegas real estate market undergoes the kind of wide changes we've seen recently, you would expect changes in how prospective buyers approach their choices. No surprise there.

Las Vegas Rental House Boom Set to Explode. Investors Are Excited. Time to Sell Your Facebook IPO and Buy Real Estate

DAVID COOPER — Wed, 30 May 2012 19:38:02 PDT

Approximately 55% of new renters are renting single-family homes, while 45% are renting apartments. The single-family rental business, which is already larger than the institutional quality apartment business, is booming. Unprecedented levels of distressed home sales, at home price/rent ratios that are the lowest in decades, is driving the boom. Eventually, most of these renters will become homeowners. In the meantime, smart investors will take advantage of the temporary disconnect in the market.

http://www.realestateconsulting.com/blog/john-burns/rental-housing-boom-set-explode

100's of Listed and Unlisted Reduced Price Foreclosure Homes for Sale

.DAVID COOPER 35 Yeras Experience. Investor and Buyers Agent CALLNOW! 702-499-7037
http://www.facebook.com/davidcooper.lasvegas
"LIKE" ME!

Follow us on TWITTER

http://www.twitter.com/lasvegaswinner.

Weekly Market Report • Las Vegas, NV 89144 • Single Family Residences • May 21-May 28, 2012

Michael Coxen — Wed, 30 May 2012 19:12:54 PDT

For the period of May 21 through May 28, the median list price for Single Family Residences in Summerlin Las Vegas, NV 89144 is $369,500.

In terms of supply and demand, the market is getting cooler—more supply is coming off the market relative to the sales demand. However, in recent weeks prices have been moving higher. Since it is technically a buyer's market, the price trend may be the result of improved quality of the homes being listed. When looking at the descriptive statistics, homes being listed are larger and younger than they have in the past.

See below for this week's full report:

Short Sale in Las Vegas | Get Cash Back

The Myers Team — Wed, 30 May 2012 18:15:07 PDT

Las Vegas, NV - In an effort to move troubled mortgages off their books, banks have begun offering cash to delinquent homeowners so that they can sell their properties for less than they owe. No lender likes to do short sales, but many banks have decided that short sales are quicker and less expensive than foreclosing. In addition to offering cash incentives, banks have been pre-approving details, streamlining the process of closing and forgoing their right to pursue unpaid debt in the hope of getting through some of the backlog. At this point, more than 14 million homes (nationally) are in foreclosure, and the pending repossessions that have accumulated are standing in the way improving the housing market. Some banks have been offering cash as an incentive to get homeowners to short sell, versus walking away from their home.

The largest incentives are extended by JP Morgan Chase, who approve about 5000 short sales monthly, many of whom have included settlements up to $35,000. Additionally, many buyers who purchased their homes using FHA loans have been receiving cash back at the close of the short sale process. On average, short sale transactions, from listing to sale, take an average of 123 days…much less time than a foreclosure. While cash back is never a guarantee, the fact remains that each lender and investor is different.

From January 1, 2007 through December 31, 2011, The Myers Team with The Caliber Realty Group sold more short sale listings than any Realtor or Broker in Nevada. Myers Team Owners, Bill and Francoise Myers have helped hundreds of Las Vegas families avoid foreclosure. Myers said, “Sellers facing foreclosure must remember that banks are not looking out for you or your family. When you work with The Myers Team, our job is to get between you and the bank. We represent our clients, NOT the banks. It is our job to take away the stress and negotiate the best possible outcome. Ultimately, our job is to help our clients get a fresh start.”

Visit The Myers Team web site at http://www.NevadaShortSaleInfo.com

Additionally, please visit http://www.VegasShortSaleInfo.com

*Above production is based on results from January 1, 2007 through December 31, 2011 (short sale listing ends only.) The information provided is obtained from public records, it is deemed reliable but not guaranteed.

Las Vegas Home Buyers Demand More Luxury

Dale Snyder — Wed, 30 May 2012 16:29:04 PDT

Living Large Back in Style

The Las Vegas real estate market is showing renewed signs of life after years of subpar performance. For the last several years there have been many fixer uppers listed, but the trend now is for homes to be in better shape. The days when property lay untended are ending. Defaults and foreclosures are well on their way to working themselves through the system. The process has been painful, but the road no longer seems to run downhill anymore..

Happily, a corner seems to have been turned, and homes now being listed are in better shape. While there are still short sales that require much work before a move in, buyers now are exhibiting a preference for housing that is already in good shape. While still looking for bargains, people now are seeking a place they can begin to immediately enjoy.

Luxury has once again become a selling point for Las Vegas real estate. Living large does not necessarily mean that homes are gigantic in size. Sellers are upgrading moderately sized homes to take advantage of this trend.

Attention to Detail the Key to Deluxe

A high end look can be achieved in average sized homes even when they are not found in the most exclusive neighborhoods. In terms of luxury, the kitchen is the room that most distinguishes where a house rates on the luxury level. A more open spaced kitchen adds to the feel of style and worth. Simply clearing off counters can open the room up.

Storage space is always a plus in the kitchen. Adding and expanding cabinets can add to value. New appliances can make a home more appealing. Such items as a stainless steel sink bespeak luxury and give the kitchen a touch of class. This works just as well in a small home as it does in a mansion.

Bathrooms are also a focal point for luxury living. Nothing will make an owner feel more aristocratic than a bathroom that has the feel of a spa. Of course a real spa requires enough room for the feature to fit. On the other hand, no size is too small for the luxury look that a good set of tiles gives.

Going Green Gives Value

There is no doubt that homeowners are becoming more ecologically oriented. Luxury homes now are marketed for the green features they incorporate. Solar heating can be a selling point along with energy saving windows and added insulation.

Even something as mundane as energy efficient LED light bulbs can alter how a house is viewed. With stricter lending standards and higher down payments now the norm, home buyers are seeking these sort of cost saving features.

Las Vegas remains a fabled city that everyone wants to see. Its real estate market is again beginning to reflect how desirable the location is. Values are to be had here. The best way to take advantage of all this is through a good realtor. It is critical to obtain the advice of en expert in the field before taking the plunge into home ownership

New FHA Loan Requirements for Buyers

Dale Snyder — Wed, 30 May 2012 16:26:39 PDT

FHA Loan Requirements

The Federal Housing Administration, or FHA, is responsible for insuring mortgages loaned by approved lenders. The following are requirements anyone thinking of applying for a loan should consider.

FHA Mortgage Insurance

Loans insured by FHA must be insured in order to protect the lender from losses resulting from defaulted buyers. Borrowers who make a down payment of less than 20 percent are required to pay for mortgage insurance.

FHA Loan Limits

FHA lending limits differ according to type of housing and the state and county where the property is located. For example, the limit on a loan for a single-family unit in Orange County in California is about $730,000. In neighboring San Diego County, the limit on the same loan is about $698,000.

Loan Checklist

Organize and prepare the following information for the loan officer: An address of your last place of residence
Social Security numbers of the buyers
Names and locations of employers in the past two years
Gross salary per month at your present job or jobs
Relevant checking and savings account information
Relevant information on all open loans
Relevant documentation of any property you own
W-2 forms and paystubs from the previous two years
An accurate estimate of personal property worth.
If self-employed, tax returns, current income documentation, and business balance sheets are needed.
Additionally, be ready to pay for appraisals and credit reports.

Closing Costs

The FHA has its own definition of allowable reasonable closing costs, but each local FHA office stipulates the exact costs. The following is a partial list of fees that should be expected, though there could be others:

lender’s origination fee
fees for verifying deposits
inspection and appraisal fees
title insurance and title examination fees
property survey or home inspection fees
credit reports
fees for any tests and certification
any taxes or transfer fees

FHA Debt Ratios

To prevent buyers from purchasing a home they cannot afford, FHA has income to debt ratio requirement guidelines that buyers must satisfy before they are granted loans. There are two types of ratios:

One is calculated by taking the entire mortgage payment and dividing it by gross monthly income, for which the maximum qualifying ratio is 31%.
The other is calculated by taking the sum of the mortgage payment and all other monthly recurring debt and then dividing it by gross monthly income. The maximum allowable ratio is 43%.

FHA Credit Issues

A good credit history and a track record of paying on time will most likely result in getting a loan. The following is what might concern a lender:

Borrowers with no credit history. Two lines of credit are needed, but if a buyer doesn’t have enough credit history, FHA will consider substitute forms.
A buyer with a current stable job still paying a Chapter 13 bankruptcy will be considered if the account is current and can be verified for at least a year. In addition, an explanation of the bankruptcy should be provided and good credit will have to be re-established.
A buyer with a current stable job who has suffered through a Chapter 7 bankruptcy may apply for a loan if two years have elapsed since the date of discharge.
A borrower with a history of late payments could be disqualified.
Borrowers with foreclosures on their records usually cannot qualify for an FHA loan. An exception might be made, however, if there were special circumstances resulting in the foreclosure and good credit has been maintained since.
Buyers delinquent on any federal debt (e.g., student loans and tax liens) are ineligible.

New FHA Loan Requirements for Buyers

Dale Snyder — Wed, 30 May 2012 16:26:36 PDT

FHA Loan Requirements

The Federal Housing Administration, or FHA, is responsible for insuring mortgages loaned by approved lenders. The following are requirements anyone thinking of applying for a loan should consider.

FHA Mortgage Insurance

FHA Loan Limits

Loan Checklist

Organize and prepare the following information for the loan officer: An address of your last place of residence
Social Security numbers of the buyers
Names and locations of employers in the past two years
Gross salary per month at your present job or jobs
Relevant checking and savings account information
Relevant information on all open loans
Relevant documentation of any property you own
W-2 forms and paystubs from the previous two years
An accurate estimate of personal property worth.
If self-employed, tax returns, current income documentation, and business balance sheets are needed.
Additionally, be ready to pay for appraisals and credit reports.

Closing Costs

lender’s origination fee
fees for verifying deposits
inspection and appraisal fees
title insurance and title examination fees
property survey or home inspection fees
credit reports
fees for any tests and certification
any taxes or transfer fees

FHA Debt Ratios

To prevent buyers from purchasing a home they cannot afford, FHA has income to debt ratio requirement guidelines that buyers must satisfy before they are granted loans. There are two types of ratios:

One is calculated by taking the entire mortgage payment and dividing it by gross monthly income, for which the maximum qualifying ratio is 31%.
The other is calculated by taking the sum of the mortgage payment and all other monthly recurring debt and then dividing it by gross monthly income. The maximum allowable ratio is 43%.

FHA Credit Issues

A good credit history and a track record of paying on time will most likely result in getting a loan. The following is what might concern a lender:

Borrowers with no credit history. Two lines of credit are needed, but if a buyer doesn’t have enough credit history, FHA will consider substitute forms.
A buyer with a current stable job still paying a Chapter 13 bankruptcy will be considered if the account is current and can be verified for at least a year. In addition, an explanation of the bankruptcy should be provided and good credit will have to be re-established.
A buyer with a current stable job who has suffered through a Chapter 7 bankruptcy may apply for a loan if two years have elapsed since the date of discharge.
A borrower with a history of late payments could be disqualified.
Borrowers with foreclosures on their records usually cannot qualify for an FHA loan. An exception might be made, however, if there were special circumstances resulting in the foreclosure and good credit has been maintained since.
Buyers delinquent on any federal debt (e.g., student loans and tax liens) are ineligible.

What is Your Las Vegas Home Worth?

Dale Snyder — Wed, 30 May 2012 16:25:08 PDT

When you are attempting to determine the value of your Las Vegas home while the market is in such a fluctuating state you may find that you need a true expert to accomplish this. For a while now we have watched the real estate market on the national scale and have seen that there appears to be a rebound coming soon.

There are also experts who are indicating there’s good reason to believe the value of homes in Las Vegas will start to also change. Although many homeowners in the Las Vegas area are already accustom to making sure that they know what the value of their home is, anyone who might be considering selling their home this summer, or purchasing a new piece of property, may want to get an estimate to find out the actual value of your home.

Getting a general idea

When doing something of this nature there are a few different ways that you can establish a general figure representing the potential value of your home. By far the fasted and simplest tool that you can use is located on the Bank of America website, which can be found here.

This is a free calculator that uses public record that is accumulated from data merged together with a host of other factors set to give a general estimate of your home’s value. The only thing that you need to do is input the address of the home you are wanting to check, and the rest is done by the calculator. Its like magic.

Evaluate your financial situation honestly

One thing to keep in mind however, is that although the calculator is very fast and thorough, it is also void of any human intuition and common sense. As a result this may give you a useful guide, but it is likely not going to be an accurate depiction of what your home is actually worth.

In fact, there are many similar sites online if you look that will boast to be able to do the same kind of magical calculation, each one a variation of this concept and pulling their information from other sources or calculated in a different way. Once you enter your address it does the work and the results are somewhere in the general area as the Bank of America site.

Nothing beats the human touch

While these instant estimate calculators are efficient at pulling together information and sorting through data, nothing ultimately can replace the human touch. Real estate in its very core is a local entity, and when you are trying to get a true representation of value you need to have an actual expert who can sort through the information and give an accurate portrayal of what your Las Vegas home is worth.

When an agent creates an experienced and professional estimate it is a piece of data that has taken into consideration the trends for the homes in close proximity to yours, and it also included actual real world variables such as the look and feel of your home. The curb appeal has a lot of buying power and this is an aspect that a computer will not take into account.

With this in mind the better the condition of your property is at any single point will have an actual effect on what your overall estimate is. Your agent may give you suggestions as to some small things you can do to change the way your property looks, and enhancements that might improve its value.

If you are thinking of selling your property or interested in the value of the other homes in your area, call for a FREE consultation, you will get a real estate professional who understands and knows how to best help you.

I need an appraiser, can anyone suggest someone good?

(author unknown) — Mon, 07 Mar 2011 18:20:26 PST

What's the history behind The Club at Maderia Canyon? Love the models but the neighborhood seems stalled - has a large % of homes of sale.

(author unknown) — Wed, 30 May 2012 13:32:02 PDT

Who Are Las Vegas Top Short Sale Realtors?

The Myers Team — Wed, 30 May 2012 11:50:37 PDT

Las Vegas, Nevada - A recent report named The Myers Team the #1 Short Sale Realtors in Nevada. Number one status was determined by actual short sale listings closed from January 1, 2007 through December 31, 2011.

The Myers Team worked for Century 21 for nine years; however, in 2011 they joined forces with the Caliber Realty Group. According to Myers, “Our Real Estate market has changed; however, most Real Estate companies have not. While most Real Estate Brokers are still learning how to do short sales, the Caliber Realty Group is backed by ownership that has been dealing with Banks and Loss Mitigation Departments for almost three decades.” Additionally, Myers said, “A short sale is one of the most complicated transactions in residential Real Estate and experience is everything. If you needed open-heart surgery, would you go to jack of all trades physician, or would you visit a heart specialist? The Caliber Realty Group specializes in short sale transactions. This experience allows Caliber Realty to provide a higher caliber of service and stand out in today's unique Real Estate market.”

Visit The Myers Team web site at http://www.NevadaShortSaleInfo.com

Also visit http://VegasShortSaleInfo.com

*Above production is based on results from January 1, 2007 through December 31, 2011 (short sale listing ends only.) The information provided is obtained from public records, it is deemed reliable but not guaranteed.