Summerlin & Las Vegas Best Real Estate Deals

Best Summerlin & Las Vegas Real Estate Deals

Week of July 23, 2008

This week I have chosen 4 Best Summerlin Real Estate Valued Homes instead of the usual 3 Best Summerlin Real Estate Valued Homes. All four of the best valued homes I have found on the market this week are in the Vistas located in the Master Planned Community of Summerlin,which is on the west side of Las Vegas in zip code 89138 .

These are some fantastic buys for first time home buyers, move up homeowners and investors alike. With FHA increasing their loan limits to $400,000 and the availability of their Nehemiah Loan program a first time home buyer can buy any of these homes with zero down and minimal closing costs upon qualifying. Call me if you have any questions or would like to discuss this in greater detail.

If you have been following these posts of the Top Picks of the Week you will find as I have that the price per square foot is going up. This could be an early indication that even the foreclosure market has flattened (at least in the Vista’s of Summerlin) and may be rising as well. Keep an eye out on these blog posts and we will see if the Summerlin Real Estate Market is changing together.

Best Las Vegas Real Estate Deal #1

 

11572 Costa Linda Ave.  Las Vegas, Nevada 89138   MLS #808501

3 Bedrooms, 2- Full & 1-1/2 Bathrooms, 2 Car Garage, 2530 Square Feet and built in 2003. Asking price is $330,000 or $130 per Square Foot. It is located in the Sonesta Subdivision in the Vista’s Community of Summerlin.

This is a bank owned property. It has been listed and available since March 13, 2008. It went into escrow on June 11, 2008 and fell out of escrow and became available again on July 16, 2008.

Best Las Vegas Real Estate Deal #2 

11724 Royal Derwent Dr.

11724 Royal Derwent Dr.  Las Vegas, Nevada 89138   MLS #816532

4 Bedrooms, 2.5 Bathrooms, 2 Car Garage, 1723 Square Feet and built in 2004. Asking Price is $224,900 or $131 per Square Foot. It is located in the Somerset Subdivision in the Vista’s Community in Summerlin.

This is a bank owned property. The bank purchased the property for $201,750 on April 1, 2008. The previous owners purchased the home in January 1 of 2005 for $379,500. It was listed by the bank for sale on April 10, 2008 for $224,900; it went into escrow on April 24, 2008 and fell out of escrow on May 16, 2008. It went back into escrow on June 23, 2008 and fell out again on July 1, 2008. The asking price has remained the same the entire time the bank has had it for sale.

Best Las Vegas Real Estate Deal #3

616 Doletto St.

616 Doleto St.  Las Vegas Nevada 89134    MLS #840967

3 Bedrooms, 2.5 Bathrooms, 2 Car Garage, 2053 Square Feet, Built in 2003. The asking price is $234,900 or $114 per Square Foot. The property is located in the Portofino Community of the Vista’s in Summerlin.

This is a bank owned property. The bank has had the property listed for sale since July 2, 2008. Went into escrow on July 11, 2008; fell out of escrow and became available again on July 16, 2008

Best Las Vegas Real Estate Deal #4 

11200 Salentino Ave.

11200 Salantino Ave.  Las Vegas Nevada 89134 MLS #843284

3 Bedrooms, 2.5 Bathrooms, 2 Car Garage, 1723 Square Feet, Built in 2002. The asking price is $219,900 or $128 per Square Foot. The property is located in the Portofino Community of the Vista’s in Summerlin.

This is a bank owned property. The bank purchased the property back on March 1, 2008 for $230,000.  The bank has only had the property listed for sale since July 10, 2008 and have had no price changes.

If you would like additional information about any of these properties, or others available that I have seen, just call or e-mail me. Again, for the most up to date Top Three Real Estate Values in Las Vegas go to www.SummerlinRealEstate.Wordpress.com .

Joe Laliberte

Broker/Salesperson

Prudential Americana Group, Realtors

702-499-1747

Joe@JoeLaliberte.com

Las Vegas Real Estate Information

www.JoeLaliberte.com

Summerlin Real Estate Information

www.OurLasVegasRealEstateAgent.com

The Vistas of Summerlin Real Estate Information

www.TheVistasHomes.com

Home Buyers Scouting Report– Do your own searching for the best real estate deals in Summerlin or all of Las Vegas.

Market Snapshot Report – Keep track of your homes value and the market activity in your area with this monthly report specific to your home.

Las Vegas & Summerlin Best Real Estate Deals

Joe’s Top 3 Best Real Estate Deals in Las Vegas

Week of July 7, 2008

This week I have chosen 3 of the Best Valued Summerlin Real Estate  Homes I can find. Two of the best valued homes I have found on the market this week are in the Vistas and one is located in the Paseo’s both are in the Master Planned Community of Summerlin, which is on the west side of Las Vegas in zip code 89138 . These are some fantastic buys for first time home buyers, move up homeowners and investors alike. With FHA increasing their loan limits to $400,000 and the availability of their Nehemiah Loan program a first time home buyer can buy any of these homes with zero down and minimal closing costs upon qualifying. Call me if you have any questions or would like to discuss this in greater detail.

This past week while showing clients some of the new home deals I found two subdivisions that the builder has actually raised the price of the homes.  It looks to me like the Las Vegas and Summerlin real estate markets are continuing to change for the positive.

Best Las Vegas Real Estate Deal #1 

601 Wandering Violet

601 Wandering Violet Way  Las Vegas, Nevada 89138   MLS #840536

3 Bedrooms plus a Loft, 2- Full & 1-1/2 Bathrooms, 2 Car Garage, 2480 Square Feet and built in 2004. Asking price is $279,900 or $113 per Square Foot. It is located in the Mariposa Subdivision in the Paseo’s Community of Summerlin.

This is a bank owned property. It has been listed and available since July 1, 2008. 

Best Las Vegas Real Estate Deal #2 

752 La Tosca St.

752 La Tosca St.  Las Vegas, Nevada 89138   MLS #795993

3 Bedrooms, 2.5 Bathrooms, 2 Car Garage, 2314 Square Feet and built in 2003. Asking Price is $249,900 or $108 per Square Foot. It is located in the Capri Subdivision in the Vista’s Community in Summerlin. 

This is a bank owned property. The bank purchased the property for $358,199 on January 1, 2008. The previous owners purchased the home in July 1 of 2005 for $455,000. 

Best Las Vegas Real Estate Deal #3 

606 Doletto St.

616 Doleto St.  Las Vegas Nevada 89134    MLS #840967

3 Bedrooms, 2.5 Bathrooms, 2 Car Garage, 2053 Square Feet, Built in 2003. The asking price is $234,900 or $114 per Square Foot. 

This is a bank owned property. The bank has had the property listed for sale since July 2, 2008. 

If you would like additional information about any of these properties, or others available that I have seen, just call or e-mail me. Again, for the most up to date Top Three Real Estate Values in Las Vegas go to www.SummerlinRealEstate.Wordpress.com . 

Joe Laliberte Broker/Salesperson

Prudential Americana Group, Realtors

702-499-1747

Joe@JoeLaliberte.com 

Las Vegas Real Estate Information www.JoeLaliberte.com 

Summerlin Real Estate Information www.OurLasVegasRealEstateAgent.com 

The Vistas of Summerlin Real Estate Information www.TheVistasHomes.com 

Home Buyers Scouting Report – Do your own searching for the best real estate deals in Summerlin or all of Las Vegas.

Market Snapshot Report – Keep track of your homes value and the market activity in your area with this monthly report specific to your home.

Summerlin & Las Vegas Real Estate Best Values

Best Real Estate Deals in Summerlin and Las Vegas

Week of June 19, 2008

The three the best valued homes I have found on the market this week are in the Master Planned Community of Summerlin,located on the west side of Las Vegas in zip codes 89138, 89134. These are some fantastic buys for first time home buyers, move up homeowners and investors alike. With FHA increasing their loan limits to $400,000 and the availability of their Nehemiah Loan program a first time home buyer can buy any of these homes with zero down and minimal closing costs upon qualifying. Call me if you have any questions or would like to discuss this in greater detail.

To sign up for the most advanced home search system to find the best available homes yourself just click here for a demo.

Do you know your homes value? Click here to receive a FREE Fully, interactive report on your homes value in minutes. It’s free with no obligations. Try it.

Best Las Vegas Real Estate Deal #1

721 La Tosca St.  Las Vegas, Nevada 89138   MLS #834004

4 Bedrooms, 2- Full & 1-1/2 Bathrooms, 2 Car Garage, 2532 Square Feet and built in 2004. Asking price is $299,900 or $118 per Square Foot. It is located in the Capri Subdivision in the Vista’s Community of Summerlin.

This is a bank owned property. It has been listed and available since June 10, 2008 with no price changes. 

Best Las Vegas Real Estate Deal #2

 

617 Apricot Rose Place. Las Vegas, Nevada 89138   MLS #835799

3 Bedrooms, 1 loft, 2.5 Bathrooms, 2 Car Garage, 2440 Square Feet and built in 2006. Asking Price is $279,900 or $113 per Square Foot. It is located in the Mariposa Subdivision in the Paseos Community in Summerlin.

This is a bank owned property. The bank purchased the property back on January 25, 2008. The previous owners purchased the home in September of 2006 for $472,442. The owner was asking $365,000 on January 15, 2008. 

Best Las Vegas Real Estate Deal #3

 

2412 Twin Flower Cr.  Las Vegas Nevada 89134    MLS #798301

3 Bedrooms, 2.5 Bathrooms, 2 Car Garage, 1881 Square Feet, Built in 1991. The asking price is $218,400 or $116 per Square Foot.

This is a bank owned property. The bank has had the property listed for sale since February 7, 2008. The original asking price was $284,050. On April 4 they dropped the price by $27,700; on May 21 they dropped the price by $26,450 and on June 9 they dropped the price by $11,500. 

If you would like additional information about any of these properties, or others available that I have seen, just call or e-mail me. Again, for the most up to date Top Three Real Estate Values in Las Vegas go to www.SummerlinRealEstate.Wordpress.com . 

Joe Laliberte

Broker/Salesperson

Prudential Americana Group, Realtors

702-499-1747

Joe@JoeLaliberte.com 

Las Vegas Real Estate Information

www.JoeLaliberte.com 

Summerlin Real Estate Information

www.OurLasVegasRealEstateAgent.com 

The Vistas of Summerlin Real Estate Information

www.TheVistasHomes.com 

Home Buyers Scouting Report– Do your own searching for the best real estate deals in Summerlin or all of Las Vegas.

Market Snapshot Report – Keep track of your homes value and the market activity in your area with this monthly report specific to your home.

Las Vegas & Summerlin Real Estate Values

June 9, 2008

Do you know YOUR HOMES VALUE? 

What about the value of YOUR INVESTMENT PROPERTIES?

Find out within minutes with this automated software.

Why spend the time calling someone everytime you want to know the value of your home or investment property. Get the information yourself when ever you would like to know.

This is an extremely advanced residential real estate valuation software that provides you with an automated valuation of your home or investment property (located in Las Vegas) within minutes, using actual listings of available and sold homes as shown through the Greater Las Vegas Multiple Listing Service. After inputting the address of your home or investment property, within minutes you will find a current Market Evaluation in real time that is fully interactive. In addition you can have this report updated and sent to you weekly, biweekly or monthly, which ever you prefer.  

CLICK HERE to keep up with the Real Estate Market Trends of Your Home or Your Investment Properties.

If you have any questions or would like additional information just call or email me.

Joe Laliberte

702-499-1747

Joe@JoeLaliberte.com

Las Vegas Real Estate Information and Values

Summerlin Information and Values

Bank Owned and Foreclosed Properties

Best Las Vegas & Summerlin Real Estate Deals -Bank Owned Foreclosures

This weeks best real estate deals are bank owned properties and were found in zip codes 89138, 89144 and 89134 which are on the west side of Las Vegas in the Master Planned Community of Summerlin. Included in this blog is a brief description of each property. If you would like more detailed information about any of these or other great real estate deals in Summerlin or Las Vegas, just call (702-499-1747) or email me (Joe@JoeLaliberte.com) and I will provide it to you. You can also search for great deals like these on your own by going to a great property search system called Home Buyers Scouting Report.

For the past several weeks the banks have been taking a more aggressive approach to listing and selling Las Vegas Real Estate and Summerlin Real Estate and the properties they have in their inventory. The most common approach for them at this time is to list the property at an extremely good value ( For Summerlin Real Estate that would be less than $125 per square foot), generate a lot of traffic through the property and solicit as many offers as possible within the first week or two that it is on the market.

In these cases the buyer of the property will be competing with several other offers and can expect to pay over the asking price to purchase the property. Most buyers are having difficulty understanding that they are going to have to pay over the asking price in this current market. Or that when they close on the property they are still getting a great deal. In some cases my clients have had the appraisal come in at significantly higher ($25,000 or more) than the negotiated sale price. For an appraiser to commit to an appraisal over the negotiated price in this Las Vegas and Summerlin Real Estate market is very unusual.

My suggestion, before you make an offer, is to know the area you are you are looking in. Know the inventory and the market activity. Know what the properties that have most recently closed sold for. Know what the asking price of the properties that are in escrow. Know the asking price of the available homes of the same type and neighborhood. Know how much the bank paid for the property and when. Know the price history of the property. Have a pre-approval letter ready to submit with your offer and expect to get pre-appoved with a representative from the bank that owns the property. Make a clean offer that is a fast close and not asking for anything unusual. In most cases the banks will not pay for certain items. Know what those items are and don’t even ask the bank to pay for those items. Work with a good agent who knows the process and can provide you with all of this information and more. Do not hesitate to offer significantly over the asking price if you have done your homework. You will still be getting a great deal.

Best Las Vegas & Summerlin Real Estate Deals #1

   

10708 Sprucedale Ave.  Las Vegas, Nevada 89144   MLS #819931

5 Bedrooms, 2- Full & 2-3/4 Bathrooms, 3 Car Garage, 3754 Square Feet

Built in 1999.

Asking price is $441,355 or $118 per Square Foot.

This is a bank owned property. The bank bought the property on April 1, 2008 for $405,000. The bank put the home on the market at this price on April 23, 2008. The previous owner paid $630,000 for it in July of 2006.

Best Las Vegas & Summerlin Real Estate Deals #2

 

1029 Bonitos Suenos St.  Las Vegas, Nevada 89138   MLS #829388

3 Bedrooms, 2.5 Bathrooms, 2 Car Garage, 2440 Square Feet. Built in 2006. Asking Price is $289,900 or $119 per Square Foot.

This is a bank owned property. The previous owners purchased the home in August of 2006 for $523,990.

Best Las Vegas & Summerlin Real Estate Deals #3

 

10342 Catclaw Ct.  Las Vegas Nevada 89135    MLS #825187

4 Bedrooms, 3 Bathrooms, Loft, 2 Car Garage, 2113 Square Feet,

Built in 1999.

Asking price is $244,900 or $116 per Square Foot.

This is a bank owned property. The owners paid $232,500 for the property in May of 2008.

If you would like additional information about any of these properties, or others available that I have seen, just call or e-mail me.

Do you know YOUR HOMES VALUE?

CLICK HERE to keep up with the Real Estate Market Trends of Your Home or Your Investment Properties.

Joe Laliberte

Broker/Salesperson

Prudential Americana Group, Realtors

702-499-1747

Joe@JoeLaliberte.com

Las Vegas Real Estate Information

www.JoeLaliberte.com 

Summerlin Real Estate Information

www.OurLasVegasRealEstateAgent.com 

The Vistas of Summerlin Real Estate Information

www.TheVistasHomes.com 

Home Buyers Scouting Report– Do your own searching for the best real estate deals in Summerlin or all of Las Vegas.

Market Snapshot Report – Keep track of your homes value and the market activity in your area with this monthly report specific to your home.

Las Vegas Best Real Estate Deals

Best Las Vegas Real Estate Deals for the week of March 2, 2008

The three the best valued homes I have found on the market this week are in Summerlin, in zip code 89138 & 89144. We have now reached 2003 home prices in some areas on some homes. Some homes are now available at prices less than what was paid for them in 2003. Buyers are starting to come out in larger numbers and are making offers on several homes. The better valued homes are not on the market more than a few days before offers are made (yes I said offers) and the property goes into escrow. In the past 10 days I have had two clients that I showed homes to that were available the night before and were in contract within 1 day.  These properties had just come on the market within two days at a significantly reduced price or the price was reduced significantly within two days.  If this trend continues this could mark the bottom of the Las Vegas real estate market.  

For investors, I can provide you with a extensive, 5 page, investment analysis showing down payment, loan amount, cash flow and return on investment for any one of these properties for your review. Call me if you have any questions or would like to discuss this in greater detail.

Best Las Vegas & Summerlin Real Estate Deal #1

11709 Grotta Azzurra Ave., Las Vegas, Nevada 89138   MLS #771978

4 Bedrooms, 3 Bathrooms, 2 Car Garage, 2532 Square Feet

Built in 2003

Asking price is $320,000 or $126 per Square Foot.

This property is bank owned. The previous owners paid $540,000 for the property in November 2006. The bank bought the property back in October 2007. The bank was originally asking $374,900 and has reduced the price by $40,000 on February 8, 2008.

Best Las Vegas & Summerlin Real Estate Deal #2

11008 Cherrywell Ct., Las Vegas, Nevada 89144   MLS #793189

4 Bedrooms, 3 Bathrooms, 3 Car Garage, 4040 Square Feet

Built in 2001

Asking Price is $515,000 or $127 per Square Foot.

This property is bank owned. The previous owners paid $799,000 for the property in March of 2006. The bank bought the property back in November of 2007 for $610,000. The banks original asking price was $625,000 and dropped the price by $64,000 on February 26, 2008 to $515,000.

Best Las Vegas & Summerlin Real Estate Deal #3

11064 Whooping Crane Lane, Las Vegas, Nevada 89144 MLS # 771959

3 Bedrooms, 3 Bathrooms, 2 Car Garage, 2067 Square Feet,

Built in 2000.

Asking price is $265,000 or $128 per Square Foot.

The property is bank owned and was purchased by the previous owner in December of 2004 for $350,000. The bank just purchased it back on October 1, 2008 for $304,637. The bank started out asking $329,000 for the property and have been recently reducing it by approximately $5,000 every three weeks.

If you would like additional information about any of these properties, or others available that I have seen, just call or e-mail me.

Joe Laliberte

702-499-1747

Joe@JoeLaliberte.com

Las Vegas Real Estate Information                                  www.JoeLaliberte.com

Summerlin Real Estate Information www.OurLasVegasRealEstateAgent.com

The Vistas of Summerlin Real Estate Information www.TheVistasHomes.com

Home Buyers Scouting Report – Do your own searching for the best real estate deals in Las Vegas and Summerlin.

Market Snapshot – Keep track of your homes value and the market activity in your area with this montly report.

 

 

Recovery Rebates & Economic Stimulus

This is a response from Senator Harry Reid updating us on the Recovery Rebates and Economic Stimulus for the American People Act. I thought you might find this interesting and hopefully informative. You can also visit Senator Reid’s web site at www.reid.senate.gov for additional information and updates. As you can see, not only are the real estate and lending concerns being addressed but our representatives are assessable and responsive to your comments.

 

Dear Mr. Laliberte:

Thank you for contacting me regarding the mortgage provisions in the Recovery Rebates and Economic Stimulus for the American People Act (H.R. 5140). I appreciate hearing from you. Recent turmoil in the global financial markets offers fresh evidence that our nation’s economy is struggling.   Faced with surging energy and food costs, rising home foreclosures, falling home values and a slumping job market, Americans’ confidence in our economy has been shaken.  In addition, millions of Americans are finding it more and more difficult to make ends meet, particularly those living on fixed incomes.  As the troubling economic news mounted, a growing number of economists came to believe that Congress needed to take urgent action to provide some relief.  In a much needed instance of bipartisan cooperation, Congress and the President were able to come together to enact an economic stimulus plan that provides timely measures to boost the economy.    

As you know, the Recovery Rebates and Economic Stimulus for the American People Act (H.R. 5140) was recently passed by Senate and signed into law by the President. Recognizing that the credit markets were experiencing a liquidity freeze, I made it a priority to include increases in loan limits for mortgages backed by the Federal Housing Administration (FHA) and those purchased by Fannie Mae and Freddie Mac. You might be interested to learn that H.R. 5140 will raise the single-family loan limit to 125 percent of the median value for homes in a given area. This could mean an increase from $362,790 to $729,750. In less expensive markets, H.R. 5140 will raise these limits from 48 percent to 65 percent of median value, which could mean an increase from $200,160 to $271,050. Additionally, FHA will have the discretion of raising loan limits up to an additional $100,000 if market conditions warrant such increases. Finally, you should also know that the stimulus package would raise loan limits for single family homes purchased by Fannie Mae and Freddie Mac from $417,000 to as high as $729,000. Congress has created these temporary loan limits in FHA, Fannie Mae, and Freddie Mac in order to improve credit availability in the mortgage markets.

As Nevada’s senior senator and the Senate Majority Leader, I am committed to doing all I can to strengthen our nation’s economy and make Nevada an even better place to live. I very much appreciate your input regarding this matter, and assure you that I understand the important role that this bill will play for the financial security of all Americans. As Congress moves forward with housing legislation, you can be certain that I will keep all your thoughts in mind.

Again, thank you for taking the time to share your thoughts with me. I look forward to hearing from you in the near future. 

My best wishes to you.

Sincerely,

HARRY REID

United States Senator

Nevada 

 

Las Vegas Real Estate Foreclosure Alternatives and Resources

This blog is a compilation of information related to foreclosure options in an effort to help people facing the possibility of foreclosure on their home. Many people do not know or understand what their options are when it comes to the possibility of loosing their home. I hope to help anyone who would like to learn more about how to stop their home from going into foreclosure and the options they may have to avoid it. This is not written to be a complete and comprehensive document on the subject only a starting point and guide to head in the right direction. I hope you find it helpful.

These are the basic options available with a brief description:  

A. Do Nothing– Let the mortgage rate adjust and the payment increase. Read your note (the lenders documentation you signed when you purchased the home) to find out if your mortgage interest rate adjusts, what the interest rate will adjust to, when it will adjust and how it will affect your payment. If you cannot afford to make the monthly payments the home will ultimately be lost to foreclosure at auction. Future creditors will ask if you have ever been foreclosed on. Credit reports will disclose this information.

B. Payoff/Refinance– Obtain a new loan or refinance the property. Identify if the current loan has a prepayment penalty for paying off the loan within the current time frame or within the time frame since the loan was first originated.

C. Reinstatement– Paying off all the amounts owed to the lender to make the loan current. This may include not only back payments but also interest, late fees, taxes, attorneys fees and possibly more.

D. Loan Modification-Renegotiate your loan before or after the rate adjusts with the current lender. Negotiate the interest rate down from where it is or where it is going. Negotiate a fixed rate loan and or the term of the loan over a longer period like 35 or 40 years vs. 30 year. Call your mortgage company and ask for the note modification or home retention department and will most likely work with you. It is possible they will put you in a new mortgage with no fees. If you would like we can help you with this process and there are references contact information below,  just call.

E. Forbearance– Call your lender. They may consider allowing a temporary payment reduction.

F. Short Refinance – Although rare, in this case the lender agrees to forgive the difference between what you owe on the property and what the home is currenly worth. A more complete blog on this can be found at Bankrate. 

G. Partial Claim – Lender may loan borrower a second loan on the property for the amount that settles the back payments, costs and fees associated with the borrower being behind in the loan payments.

H. Deed in Lieu of Foreclosure – This option gives the property back to the lender instead of forcing the lender to foreclose on the property. The lender may require that the home be in good condition and current on mortgage payments and taxes. Most new loan applications will inquire if this has ever happened to the borrower.

I. Sell the property for maximum value. Have the property in the best possible condition and price it to sell. Pay off the debt and retain any equity derived from the sale.

J. Sell the property Short (better than foreclosure or bankruptcy). This occurs when the property value is less than the amount owed on the property when combining the first mortgage, second and potentially the third mortgage on the property. A good real estate agent who knows how to handle short sales will help his client through the process by helping with the following for his clients.

    1. Guide the homeowner through compiling all the related documents needed. Identify exact loan balances, delinquent mortgage payments, Home Owner Association payments, possible judgements and/or liens and prepayment penalties.

    2. Coordinate a written authorization for the Realtor and title company  to speak to the lender(s) on their behalf.

    3. Contact the title company to request copies of liens/judgements, Deeds of Trust and Notices of Default if applicable against the property. Carefully read the documents identifying the type of loan and any possible additional charges connected to the loan.

    4. Contact the lenders (first, second and third mortgage holders if applicable) loss mitigation or short sale department. Ask them for approval to sell the property as a short sale. Identify what documents they will require to review the loan for a short sale. Identify what their turn around time is and request those documents be faxed as soon as possible. Identify the maximum amount of closing costs that the lender can be charged. Take extremely good notes.

    5. Compile and forward the documentation that is required by the lender(s) back to the lender(s).

    6. Compile the documents for the title company.

    7. Negotiate with the buyers and the lender(s).

    8. Continuous contact and communication with all the parties involved in the transaction. Terms of the sale can be changed by the lender(s) during the escrow period.

K. Foreclosure – Notice of default filed. Because this is a matter of public record people will be calling, letters will be received and people will be knocking on the door to discuss the sale of the property. The lender will get more insistent about receiving payment on the outstanding loans. The process will take 3-4 months before the homeowner is evicted from the property. The homeowner will loose the house.

L. Bankruptcy – This option can liquidate debt and/or allow more time.

  1. Chapter 7 – Completely liquidates and settles personal debt.

  2. Chapter 13 – Coordinates a plan for payments to be made toward paying off debts within a specific period of time (generally 3-5 years).

For additional information about bankruptcy I suggest going to the blog of Darren Welsh our General Council at Prudential Americana Group, Realtors at http://ameglegal.wordpress.com/ . He offers more a more detailed explanation and resources.

We want to help anyone who is in this situation that needs help and advice. This is a difficult process to go through and we want to help make it as smooth as possible for those who need and/or want it.

Additional resources referred to me by Aaron Gordon (who also has a great blog) are:

Homeownership Preservation Foundation hot-line at 888-995-HOPE.

Home Retention Departments by Lender

Web site designed to help people stay in their homes by Moe Bedard .

These are some very knowledgeable local contacts that can be very helpful.

Anita Krikes – First Horizon Home Loans Akrikes@firsthorizon.com or 702-795-0774.

Mickie Salgado – Equity Title Company MSalgado@EquityNv.com or 702-835-0777

Joe Laliberte – Prudential Americana Group, Realtors Joe@JoeLaliberte.com or 702-499-1747

JoeLaliberte or OurLasVegasRealEstateAgent or TheVistasHomes

I am continuing to research this topic and will continue to update this posting as I get additional information.

Las Vegas Real Estate Values

 This is one of the most valuable posts you will read. I promise you that it will save or make you significantly more money buying and selling Las Vegas residential real estate. In this post I am going to give you the access to the information you need to make your own determination as to exactly when the best time is for you to buy or sell residential real estate is based upon your specific situation. You no longer need to rely on the local or national media to provide you with generic information telling you that the Las Vegas real estate market is strong or soft.  If you don’t want to read on any farther and want to see it now here it is.

Market Snapshot Report

Market Snapshot Report Sample

Yes, everyone knows that the Las Vegas Real Estate Market and the Summerlin Real Estate Markets are very slow right now. As I have state in previous posts there are several reasons for this most of which are related to an oversupply of available inventory and a shortage of demand which is causing home prices to trend downward.  I have also stated that now is a great time to purchase owner occupied single family homes for many reasons. I now want to provide you with a tool that provides you with the information necessary to make your own determination as to exactly when the best time is for you to buy or sell based upon your specific situation.

 I consider this software program to be the best program available at providing you with a monthly real estate market analysis report via email. It is extremely dynamic and provides you with a great deal of real time, valuable, user friendly, information, specific to your desire to sell or to purchase a property. It is user friendly and graphically easy to read and understand.

Just one of the features if the report is a dynamic user friendly graph that includs the actual supply and demand directly related to the exact zip code you live in (if selling) or wish to purchase a home in. You can graphically see the historic supply and demand trend of homes like yours or the one you are searching for. Just this one supply and demand graph tool, shows you exactly when the market is changing to time your sale or purchase to help you gain the maximum monitary benefit.

In the current market this information is primarily of benefit to a home buyer. As the market further develops the information will be of increasing benefit to the home seller. Since it is free and easy to use, now is a good time to start receiving the information so you can best understand the market timing and when it most benefits you to buy or sell. This is the link to subscribe to the monthly report or view a sample.

Market Snapshot Report

Market Snapshot Report Sample

If you have any questions or need any additional information just call or email me. You can also visit my other web sites listed here.

Las Vegas Real Estate

Summerlin Real Estate

The Vistas Homes

Las Vegas Foreclosure Help

One of the biggest attractions for me to start my own real estate business was the opportunity to help people find and purchase their own home.  It is very special and joyous for me to be instrumentally involved helping them with such a significant purchase that means so much to them and their family for such a long time. I never expected that I would be placed in a position where my real estate knowledge and skills would be taking a backseat to that of my counseling abilities. The personal pain I feel when speaking with some of my clients over the past year effects me much more deeply and in a way that I never expected. My deep burning desire to help people is being limited by my frustrations and the limited resources I have available. Allow me to explain.

I have been receiving many telephone calls and emails where clients are asking me for advice and direction about what they should do. The conversations revolve around a central underlying theme. The homeowner (or investor) has an adjustable rate mortgage on either their primary and/or on a secondary loan (or Home Equity Line of Credit – HELOC) which they took out within the last two years. Their monthly payment has recently adjusted up to a payment they can no longer afford. They cannot refinance their loan to a lower interest rate because the loan(s) they originally received is no longer available. They cannot sell their home because they put between zero and 20% down or refinanced with 20% or less equity still remaining. The market has adjusted to a point where they cannot sell the home for what they owe on it and this is not taking into account their costs to sell the home. What should they do?

This question has been posed to most real estate agents recently as well as to our in-house attorney at Prudential Americana Group, Realtors – Darren Welsh. In his most recent blog, he has given some helpful advice that I want to pass on and share with you or anyone else that you know could use it. One suggestion he has is to visit this site at the Consumer Credit Counseling / Consumer Credit Affiliates.  This is a non-profit United Way organization offering free financial consumer credit counseling and education.  Their number is (800) 451-4505 ask for Terrance Lee. 

Another is the Home Ownership Preservation Foundation at (888) 995-4673.  This foundation, also known as 888-995-HOPE (that’s their phone number) is a non-profit group with HUD certified counselors standing by for free financial advice to help individuals and families who are struggling financially.

Darren also suggests this link for a limited list of attorneys that may be able to help as well.

It is not my intent to perpetuate the concerns and struggles of a challenging real estate market. It is my intent to do exactly what I hoped to do when first entering the real estate business and that is to do everything possible to help people with their real estate needs. If today the best way to help people is by giving advise or providing information that helps them keep their homes instead of buying or selling their home then I feel I am still contributing to their quality of life. It is in those terms that I feel I am successful.

I personally have a very positive outlook on the Las Vegas real estate market. Las Vegas is an ever growing and exciting place place to live with abundant opportunities for anyone who lives here. I am happy and feel fortunate to be a part of and contribute to the growth and development of such a great city.