The National Association of Realtors® has witnessed many problems for Americans who are in trouble with their homeloans. They are being taken advantage of and NAR has called for increased funding and financial assistance, counseling, and assistance. Some scammers are taking advantage of those who have their equity in their home and are in a tight position. They become easy targets and if they are not properly educated about options and assistance available to them, they may succome to poor offers.
A key to protection is to find a quality Realtor®. Las Vegas Realtors® are Las Vegas real estate agents who belong to the Greater Las Vegas Association of Realtors (GLVAR). They are required to perform with certain ethics and can be of great help. There are also resources available to consumers on the GLVAR web site.
Las Vegas Recreation: NASCAR in Town
Las Vegas is a great place to live, especially for NASCAR fans. Feb 29-Mar 2 Las Vegas will host the racing events at the speedway. Fans are already gearing up and getting ready to attend. The Blue Man Group plans to perform and other great entertainment will be available.
Las Vegas has some of the best recreational and entertainment in the world. From races at the speedway to great dining and shows residents and visitors alike can find anything they're looking for.
Las Vegas has some of the best recreational and entertainment in the world. From races at the speedway to great dining and shows residents and visitors alike can find anything they're looking for.
Home Buyers Find Rising Mortgage Rates This Week
Inflation risks caused mortgage interest rates to rise. Home buyers may have witnessed a 41 basis point increase. Reportedly, the average on 30-yr rates rose to 6.37. Bernanke and crew are concerned about the economy and the effect inflation has. He is committed to helping out the economy as well as the housing sector.
"For now though, the No. 1 battle is shoring up the economy. And Bernanke pledged anew to slice a key interest rate to steady the wobbly economy, which many fear is on the verge of a recession — or possibly has already toppled into one."
Las Vegas Mountains Edge Community Records History
The history of Las Vegas is fascinating and somewhat unique. The city of Las Vegas began to develop as an important stop along the Old Spanish Trail between Santa Fe, New Mexico and southern California for much of the 19th century. The oasis enabled Spanish traders to shorten their route to Los Angeles by cutting directly across the desert. In 1829, descriptions of the lush valley were circulated, generating a lot of interest. In 1844, John C. Fremont, an explorer, camped in the Las Vegas Valley and described the fertile landscape in his journals. Missionaries from the Church of Jesus Christ of Latter-day Saints (the Mormon Church) began an intermittent settlement of the Las Vegas Valley in 1855. This settlement linked to California and the Pacific Ocean. More on Las Vegas History...
The Mountain's Edge master-planned community in the southwest valley recently completed the installation of four commemorative plaques located at the top of the community's 3,500-acre Exploration Peak. Reportedly, the plaques are located on 4 points of a patio with a great view of the valley. They detail local history adding rich value to the residential community. Homes have sold by the thousands in the south west end of Vegas. Communities add to the living experience in many unique ways. Parks, trails, pools, club houses, etc. attract many to the area.
The Mountain's Edge master-planned community in the southwest valley recently completed the installation of four commemorative plaques located at the top of the community's 3,500-acre Exploration Peak. Reportedly, the plaques are located on 4 points of a patio with a great view of the valley. They detail local history adding rich value to the residential community. Homes have sold by the thousands in the south west end of Vegas. Communities add to the living experience in many unique ways. Parks, trails, pools, club houses, etc. attract many to the area.
Association of Realtors Reports on Home Statistics
The National Association of Realtors (NAR) reports both the number of homes and the median prices of those homes dropped last month. That's no surprise to many who are growing used to the trend spoken of consistently in the press.
I talked to a family member last night who is in the market to purchase a home. Together, they make a very qualified buyer. They are excited about the direction of the market. Just like someone patiently waiting for the right time to buy stocks in the exchanges they are waiting to time the bottom of the drop. They'll buy and ride out the growth of the turned market.
Many are dipping their toes in the Las Vegas market as well, anticipating the coming growth. Las Vegas Real estate agents are waiting patiently as well. Dozens of leads a week come in off the internet with people asking probing questions about the market direction and how a recession may affect them. They want to know about timing, jobs, etc. While there are many factors driving the right decision, there are many great properties for great prices and if the situation is right they buy.
"The National Association of Realtors said Monday that sales of single-family homes and condominiums dropped by 0.4 percent last month to a seasonally adjusted annual rate of 4.89 million units, the slowest sales pace on records going back to 1999.
The median price of a home sold in January slid to $201,100, a drop of 4.6 percent from a year ago."
I talked to a family member last night who is in the market to purchase a home. Together, they make a very qualified buyer. They are excited about the direction of the market. Just like someone patiently waiting for the right time to buy stocks in the exchanges they are waiting to time the bottom of the drop. They'll buy and ride out the growth of the turned market.
Many are dipping their toes in the Las Vegas market as well, anticipating the coming growth. Las Vegas Real estate agents are waiting patiently as well. Dozens of leads a week come in off the internet with people asking probing questions about the market direction and how a recession may affect them. They want to know about timing, jobs, etc. While there are many factors driving the right decision, there are many great properties for great prices and if the situation is right they buy.
Who Is Buying Homes in Las Vegas
An article in the RJ suggests that the demographics of people purchasing homes in Las Vegas has not changed. However, the number of overall buyers has. Whether they are first-time-home buyers, couples, families, bachelors or bachelorettes, retirees, etc. they are still making purchases.
Buyers realize they can be very selective and are touring homes before making a purchase. The article provides some interesting stats on who is buying what and it suggests that groups that had not purchased as much in the past are now.
As the residential landscape continues to change in Las Vegas it will be interesting to see how the demographics of home buyers shifts. While Realtors are not allowed to discriminate based on many of these factors, they do recognize shifts in demand and they need to tailor their professional interactions to cater to many backgrounds and people.
Buyers realize they can be very selective and are touring homes before making a purchase. The article provides some interesting stats on who is buying what and it suggests that groups that had not purchased as much in the past are now.
As the residential landscape continues to change in Las Vegas it will be interesting to see how the demographics of home buyers shifts. While Realtors are not allowed to discriminate based on many of these factors, they do recognize shifts in demand and they need to tailor their professional interactions to cater to many backgrounds and people.
Home Refinancing Attempts Increase
Recent interest rates cuts have motivated many to attempt to refinance their property. However, many may be unable to do it successfully. Mortgage lenders are looking for considerable qualifications. The house must have equity, the borrower must have good credit and work history, and the house needs to appraise well in the real estate market they live in.
Many have tried to lock in better rates and a better term for their home but are unable to because of the previous loan they acquired. To find out if you qualify contact your lender or your real estate agent who can refer you.
Las Vegas Economic Report, Including Real Estate: Residential and Commercial
Las Vegas has seen amazing economic growth in this decade. It has invited huge development projects and investments. Many of the economic factors contributing to the index have seen positive increases while others are flat or slightly lower.
"Still, the six-month forecast remains flat, (with) no clear sign of an overall recession in the data, despite the veil of pessimism coming from the media," economist Keith Schwer said.
It's amazing the economy has remained as resilient as it is in light of the recent softening of the real estate market in the valley. If the Las Vegas continues strong and the large projects are completed, there will be considerable growth in many industries as real estate recouperates.
Many experts and analysts who know the valley suggest commercial projects will taper off some. Las Vegas commercial real estate has been hot because previous residential growth outran the important commercial infrastructure.
Las Vegas real estate agents are anxious to see what happens over the next year or so. Some believe another small boom will occur due to housing needed to support the jobs to be filled by some of these large-scale development projects. Some estimate jobs requiring 60,000-100,000 residents will need to be filled. 60,000 is more people than there are existing residences including rentals and listed homes. Some expect even more positions through 2009 which will shorten supply further and increase demand. The next year should be flat in southern Nevada economy and housing. However, subsequent years could see considerable growth.
Home Buyers in Las Vegas React to Lower Mortgage Rates
The Fed's lower rates have sparked greater interest in mortgage products in the Las Vegas area. Applications are up considerably as people see a great time to purchase a Las Vegas home.
Las Vegas properties, including those in Henderson and North Las Vegas are priced incredibly well compared to the previous couple of years. Las Vegas Realtors are beginning to see interesting movements in the MLS Search data as well. Another considerable drop in interest rates by the Fed could cause another significant volume of purchase and refinance activity.
Las Vegas real estate agents have also seen a small increase in the number of leads and interested parties. Web site inquiries have increased a small percentage and referral business has bumped up."Refinance applications are up 92 percent since the beginning of November, while purchase applications are up 7 percent," said Jay Brinkmann, vice president of the Mortgage Bankers Association. "With tighter credit conditions we don't know how many of these applications will become loans, but it is clear that borrowers are responding to the recent drop in interest rates." - RJ
Las Vegas properties, including those in Henderson and North Las Vegas are priced incredibly well compared to the previous couple of years. Las Vegas Realtors are beginning to see interesting movements in the MLS Search data as well. Another considerable drop in interest rates by the Fed could cause another significant volume of purchase and refinance activity.
Las Vegas Trump Tower Nearing Opening Day
Opening day in the highly touted Las Vegas community is approaching. The Las Vegas Trump Towers are luxurious.
Las Vegas is known for its great communities and real estate. Las Vegas homes are valuable and job growth in coming months is anticipated to spark another boom in the valley. Get ahold of a Las Vegas real estate agent today.
"No one does the luxury lifestyle better than Trump," Schaeffer said. "The dining and spa experiences at Trump Las Vegas will be unsurpassed by any other high-rise project in town." - LV RJThe first tower has 1282 rooms including studio units, 1 and 2 bedroom units, and 3 bedroom suites. Prices for these units run from $700,000 to $7 million. They include concierge, spas, fine restaurant access, and the highest of quality amenities.
Las Vegas is known for its great communities and real estate. Las Vegas homes are valuable and job growth in coming months is anticipated to spark another boom in the valley. Get ahold of a Las Vegas real estate agent today.
Las Vegas Communities Continue Development
I had a recent discussion with the President of one of the home builders here in Las Vegas. I asked if they had their operations on hold for build out Las Vegas communities or if they were pressing forward despite economic issues revolving around housing. He responded that they had slowed down but they were planning for the near future as major business projects are likely to attract many thousands to the valley. He talked about the changes in focus in their products as well as their marketing programs. In some places you can pay a low monthly payment every month that compares equally to rentals. They are developing products that work for 1st time home buyers as well as others for the upscale community. They are poised with land and resources to build homes quickly once economic factors indicate the timing is right.
10 Traits that Make You a Millionaire
Many real estate agents I know struggle to become wealthy. Many just don't make money. Many who make money aren't disciplined enough to manage it. A few are wise and take care of their finances. Here are 10 traits listed by Yahoo that will help any professional become wealthy over time:
- Be patient
- Be satisfied
- Be organized
- Be disciplined
- Be reflective
- Be creative
- Be curious
- Be a risk taker
- Be goal oriented
- Work hard and smart
Recent years proved very profitable for many Realtors. Some in Las Vegas made a lot of money simply because of the volume of sales. Now that times are tougher, many are struggling and many have had to find that second job. Take care of the finances when times are good and the ride will be more smooth when times are not.
Las Vegas New Home Builder Reports Owning Costs Same as Renting
For many looking to purchase a Las Vegas home the dip in the housing market isn't all bad news. Many who are paying rent can find homes where the costs are the same as the rent they are paying. All they need to do is qualify and they can own. It is important to realize that owning a home requires a handful of other expenses so 1st time home owners will want to work with a Las Vegas Realtor® before they purchase to understand other costs.
Feds Plan to Delay Foreclosures
In another attempt to slow an economic downturn feds have announced they plan to give more aid to home owners who are in trouble. It is called "Project Lifeline". The project will include many types of loans not just subprime. Six of the nations largest financial institutions are part of the plan. Home owners in trouble will receive a phone call and the mortgage companies will put the proceedings on hold for 30 days while they make the payments more affordable. It is a reach to help some people with a way out.
Las Vegas Real Estate Market Statistics (2007 January Month End)
Summary: The number of listings slowed due to seasonal factors. The average days on market have remained consistent. The median prices have dropped considerably. The number of home sales is slightly up from previous months.
Las Vegas Listings: (view chart)
Listings in January were similar to previous months. The curve matches other years.
Las Vegas Market Strength: (view chart)
Compared to other national averages and normal sales the Las Vegas market remains steady. Prices have dropped but the average days on market for homes competitively priced remains good, and has dropped some. The key to selling today is pricing a home correctly. There is considerable competition with homes in foreclosure proceedings. Once that inventory has diminished the reflection in low prices will level out some.
Las Vegas Resale Homes Sold: (view chart)
The number of homes sold has increased over previous months. The holiday season affected both buying and selling activity.
Las Vegas Median Prices: (view chart)
Median prices dropped considerably. They're priced at around $235k.
Las Vegas Real Estate Market Watch Conclusion: (view chart)
The holidays have affected the number of home for sale. Sellers are involved in other activities so listing numbers drop off. Buyers who are motivated are making purchases and will reap the benefits. The national average for days on market is around 90 in a healthy market. Las Vegas homes, which usually sell in less time, that are priced correctly are selling on average for just under that amount still. While the market is in correction, gains from years ago are still considerable.
Full Las Vegas real estate statistical market report found: http://www.hildrethhome.com/lasvegasrealestatemarketwatch/
Contact Las Vegas real estate agents to learn more about the market and buying or selling your home.
Las Vegas Listings: (view chart)
Listings in January were similar to previous months. The curve matches other years.
Las Vegas Market Strength: (view chart)
Compared to other national averages and normal sales the Las Vegas market remains steady. Prices have dropped but the average days on market for homes competitively priced remains good, and has dropped some. The key to selling today is pricing a home correctly. There is considerable competition with homes in foreclosure proceedings. Once that inventory has diminished the reflection in low prices will level out some.
Las Vegas Resale Homes Sold: (view chart)
The number of homes sold has increased over previous months. The holiday season affected both buying and selling activity.
Las Vegas Median Prices: (view chart)
Median prices dropped considerably. They're priced at around $235k.
Las Vegas Real Estate Market Watch Conclusion: (view chart)
The holidays have affected the number of home for sale. Sellers are involved in other activities so listing numbers drop off. Buyers who are motivated are making purchases and will reap the benefits. The national average for days on market is around 90 in a healthy market. Las Vegas homes, which usually sell in less time, that are priced correctly are selling on average for just under that amount still. While the market is in correction, gains from years ago are still considerable.
Full Las Vegas real estate statistical market report found: http://www.hildrethhome.com/lasvegasrealestatemarketwatch/
Contact Las Vegas real estate agents to learn more about the market and buying or selling your home.
Cher Doing Show in Las Vegas
Las Vegas entertainment is some of the best in the world - we are the entertainment capital of the world! Cher seems to agree with that stance. She is taking on a 3 year spot at Caesars Palace starting in May. Her show, which will run and hopefully sell out 200 times, costs from $95-250. She will replace Celine Dion.
According to the RJ, she said, "Las Vegas is way over the top, and the show that I do is way over the top. I feel that it just has to be," Cher, 61, said in a telephone interview. "I guess you could go on in a black dress (and sing), but oh, I would just want to slit my wrist."
Residents and visitors alike will be in for a surprise in Las Vegas. She claims she will do something that hasn't been done before. We look forward to her show.
According to the RJ, she said, "Las Vegas is way over the top, and the show that I do is way over the top. I feel that it just has to be," Cher, 61, said in a telephone interview. "I guess you could go on in a black dress (and sing), but oh, I would just want to slit my wrist."
Residents and visitors alike will be in for a surprise in Las Vegas. She claims she will do something that hasn't been done before. We look forward to her show.
Las Vegas Homes and Las Vegas Home Sellers
Las Vegas homes are typically valuable, quality purchases. When buying a home be sure your home is what the seller says it is. A desperate seller may actually be like a used car salesperson. Here are 10 lies (details at MSNBC) a desperate home seller may tell you:
- “My neighbors are wonderful!”
- “The roof leaked once, but we fixed it.”
- “I’ve only seen one termite on the deck.”
- “There’s no radon — ever.”
- “I didn’t know I should have told you about the foreclosure.”
- “The planes from the airport don’t fly over this house.”
- “Of course we had a permit to build the new addition.”
- “There’s never been any flooding.”
- “Our schools are great!”
- “They can’t build on that lot across the street.”
The best protection you can get is a quality real estate agent or team who has a trusted group of real estate professionals to make sure you follow appropriate steps of protection. They will know what to look for and they'll be on your side.
Home Mortgage Applications Rise
The positive news some home owners have been awaiting was announced a couple of weeks ago. The Fed lowered interest rates considerably and mortgage rates have come down. Many who held out are either refinancing or moving into home purchases with improved home financing. It rose 3% during the week.
"Application volume increased as interest rates were mixed. The average interest rate for traditional, 30-year fixed-rate mortgages increased to 5.61 percent from 5.6 percent. The average interest rate for 15-year fixed-rate mortgages, an option popular for refinancing a home, increased to 5.09 percent from 5.04." - MSNBC
Las Vegas Home Buying Strategies
Home inventories in Las Vegas remain high and many buyers are negotiating great deals. Las Vegas real estate grew in value tremendously in recent years. Like the rest of the nation, those values softened some and savvy investors, whether residents or not, have made their move.
However, not all sellers are motivated to negotiate price on their Las Vegas homes. Some don't need to sell but would if they could. They tend to have other options like renting out the property or living in it temporarily. Finding the right property to negotiate on takes some skill. Find a Las Vegas real estate agent who is a Realtor to help you find the right property. They have specialized tools to do the legwork upfront so negotiating down the line will be easier.
According to the RJ, "Motivated sellers, on the other hand, need to sell. They could be transferred by their employer and have to relocate quickly. Or, they might be facing financial hardship. Or, perhaps they have already bought another home. These sellers have a deadline to meet. They are usually open to considering all offers."
These are the home owners to find.
However, not all sellers are motivated to negotiate price on their Las Vegas homes. Some don't need to sell but would if they could. They tend to have other options like renting out the property or living in it temporarily. Finding the right property to negotiate on takes some skill. Find a Las Vegas real estate agent who is a Realtor to help you find the right property. They have specialized tools to do the legwork upfront so negotiating down the line will be easier.
According to the RJ, "Motivated sellers, on the other hand, need to sell. They could be transferred by their employer and have to relocate quickly. Or, they might be facing financial hardship. Or, perhaps they have already bought another home. These sellers have a deadline to meet. They are usually open to considering all offers."
These are the home owners to find.
Super Bowl XLII Was, Well, Super
Super Bowl XLII was an awesome game to watch. Stellar defense, a winning underdog, clutch catches, and an amazing upset kept fans on the edge to the very end. Las Vegas sports books were going crazy from kickoff to the final 1-second play.
The Giants won 17-14 in final seconds. NY smothered NE with superior defense and came up with the right plays at the right time. The final 12-play drive by Eli Manning and crew was spectacular. They held the Patriots from a record setting perfect season.
The Giants won 17-14 in final seconds. NY smothered NE with superior defense and came up with the right plays at the right time. The final 12-play drive by Eli Manning and crew was spectacular. They held the Patriots from a record setting perfect season.
Microsoft Bids on Yahoo!
As a blogging Realtor and professional I am constantly interested in what changes are being made on the Internet because my leads depend on it.
This move could be huge for many professionals who depend on Internet search for business. Reportedly, Microsoft has offered more than $44 Billion for Yahoo! and they are going to consider it quickly and seriously. Yahoo! has been struggling in recent months and Microsoft has been struggling to fight off Google online. Truth of the matter, Google is a much better search engine than either of them. It offers much better algorithm based results. They are much more accurate. Even if Microsoft acquires Yahoo! they will have to change the way both do their searches to win me over.
This move could be huge for many professionals who depend on Internet search for business. Reportedly, Microsoft has offered more than $44 Billion for Yahoo! and they are going to consider it quickly and seriously. Yahoo! has been struggling in recent months and Microsoft has been struggling to fight off Google online. Truth of the matter, Google is a much better search engine than either of them. It offers much better algorithm based results. They are much more accurate. Even if Microsoft acquires Yahoo! they will have to change the way both do their searches to win me over.
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