Xiao-Qing (Shall-Ching) Lu's (xlu) Blog

Las Vegas is in a supply market where there's too much supply and not enough demand. For sellers who are looking for options to sell their homes here is another idea: sell your exising home at market value then buy a brand new home. If you are selling home priced below amount paid, yes you are lo...

Think you've heard enough from the media? Hear this from a real estate licensee who works full time in Las Vegas. Who is better at telling the truth about the real estate business other than the people in the business? What does the media know? Only stories that sell news; true or not. Take a loo...

Under Nevada law NRS 645.254 requires a licensee to "present all offers made to or by the client as soon as practicle". This duty MAY BE waived by the client. In order to waive the duty, the client must enter into a written agreement waiving the licensee's obligation to perform the duty to presen...

In my last blog I mentioned that today people buy homes to make money. It is all about location, location, location.  To simply Las Vegans care about two factors: closeness to airport and closeness to the strip. If you purchase a house far from the airport or the strip your home value will not ap...

Foreclosure home counts are in the thousands. While these home prices are enticing buyers must be aware of terms and agreements set forth by banks.  Must read over your purchase contract very carefully and make sure you understand what you are getting into.  Here is a list of tips before purchasi...

Years ago people buy homes to raise children, be close to family members, have the convenience and to be in the same home for ten or twenty years.  Today real estate has changed to become the a commonly traded stock bought and sold every two or three years. People now are buying homes to create w...

Do you know how much home you can afford? Most buyers want to know two important pieces of information: 1) how much downpayment and 2) what my monthly payment will be.You must ask a Loan Officer for the following before understanding how much home you can buy.  If you do not have a lender of your...

Heard of pre-approval r pre-qualified for a home? Today it is no longer good enough to have a pre-approval letter from the lender stating the amount of hom you are qualified to buy. To avoid extending the closing date of your new house or worse yet loose a house you worked so hard for, follow my ...

Improvement in the market is defined by the increase in New Home Permits, a continuation of the trend reversal that began in October '07.  The long drought on new home permits impact the market significantly. Builders in the home building industry is the leader in this market. Watch what new home...

Fannie Mae is a congressionally chartered secondary-mortgage market company that buys loans from private lenders. Because the firm is so big and has been involved in purchasing packages of loans from lenders for 25 years, it has enormous influence on the mortgage market.Fannie Mae's Community Hom...