Thank you for dropping by to read Friday Figures! All information from the GLVAR MLS system. Are you are touring, making offers, or listing property this weekend in the Las Vegas Valley? Read this first! Summary: As much as I hate to repeat myself, available units are down yet again, now under 11,000. Pending sales [...]
The Obama Administration is talking about renewing the tax credit for first time home buyers. However, they want to see how much it’s going to cost before getting behind an actual proposal going in Congress. A version of the extension is already circulating as an amendment to other legislation. I can’t blame the President and [...]
Over the last couple of weeks, a huge mortgage and foreclosure story has been slowly developing. You’ve probably already heard about judges throwing out foreclosure cases because the banks didn’t have their documents in order. One judge in Kansas made a ruling that could — if upheld on the Federal level — invalidate the mortgages [...]
see more Funny Graphs Granted, they are quite late to the party, but The Market Oracle is talking about Fannie Mae and Freddie Mac’s role in the housing bubble (and therefore the housing collapse that came afterwards). Don’t even think about trying to fraudulently claim the first time buyer’s tax credit. The IRS is looking [...]
Many newer communities across the nation have homeowners associations (HOA), landscape maintenance associations (LMA), or some other type of Common Interest Community (CIC). For some years, Nevada has required that buyers in any sort of CIC get a chance to inspect the rules before buying. It’s only fair, because these rules restrict the way owners [...]
Because Vegas has lost jobs over the last year, our population is down. And that in turn has caused apartment vacancy rates to rise and rents have dropped to 2006 levels. Economist and real estate expert Robert Shiller (whose name you may recall from the Case-Shiller index) says that real estate prices will continue to [...]
It turns out I was right about the mortgage modification plan passed back in July and implemented in October. Here’s what I said then: Now, here’s the deal-breaker. The old mortgage company has to agree to write down the loan to 90% of the current appraised value and forgive the remainder. CNN correctly points out [...]
I’ve had Kitec come up twice in the last week, which is unusual considering that I don’t really work Sun City. If you need information on the ongoing Kitec lawsuit, you will want to visit PlumbingDefect.com. Although a tentative settlement has been reached, it’s not over yet. This story has a little more background [...]
There’s been much said today about the Treasury’s “plan” to force mortgage rates down. Since no government agency actually has the authority to “control” mortgage rates directly — not even the Federal Reserve! — it would have to be done indirectly through the purchase of mortgage backed securities. A whole lot of mortgage backed securities. That [...]
I’ve been hearing a lot of ads on the radio lately for a website called RentalForeclosure.com. The ad does tell the truth about tenant’s rights during a foreclosure: the tenant has very few rights. Nevada does have a loophole for those (rare) cases when the tenant’s lease pre-dates the landlord’s mortgage. It also appears that [...]
