If I may, let’s start with all the bad news. December home prices “dropped sharply“. If you look at the money-green line representing Vegas on this Case-Shiller index chart, you’ll see that on average, our prices are at 2003 levels. This is consistent with what I am seeing on the ground. I’m just glad I [...]

Yesterday, the Review Journal pointed out what those of us on the ground already knew: local housing prices are way, way down. The average price decline was 27.7%, and in one zip code the decline was 64% year over year. That’s not from the peak, that’s just a year! Today, the Review Journal and other [...]

Here’s what you and your Realtor need to know about local market conditions before touring homes or making offers this weekend. Figures are from the GLVAR MLS system, including outlying areas. Available listings for sale:  16406 available single family homes, 4578 condominiums and townhomes. That’s down slightly from last week. Distressed Properties: Of those listings, 6930 are known to be [...]

There’s been several articles and commentaries lately to suggest that as bad as things are, banks are sitting on a huge stockpile of foreclosed properties and not selling them. Some people claim that as much as 70% of foreclosed property isn’t making it into the MLS, and a superficial glance at MLS vs foreclosure statistics [...]

Here’s what you and your Realtor need to know about local market conditions before touring homes or making offers this weekend. Figures are from the GLVAR MLS system, including outlying areas. Available listings for sale:  16,454 available single family homes, 3,252 condominiums, 1,301 townhomes. Distressed Properties: Of those listings, 6,860 are known to be short [...]

Some time back, I wrote the Truth About REO. It’s still one of the most popular posts on the site. Today, I will add a post on a common but misunderstood kind of listing, the short sale. 1. In real estate, a “short sale” is when the mortgage holder is going to be “short” money [...]

Last night, the United States Senate approved a proposal for a home buyer tax credit of up to $15,000.00 (or 10% of the home’s value, whichever is less) to any home buyer. The current first-time home buyer tax credit is $7,500.00, and must be paid back over the course of 15 years — still not [...]