RECENT BLOG POSTS
Hello from Las Vegas! Reporting to you on our market condition as of November 2008.  We will have December data by the 10th of the following month. Here is the latest trend in housing development.   *Number of homes sold in November decreased for the first time this year by 22% to 2,183 from 2,71...
01/06/2009
WEEKLY RATE REPORT : Rates are down from last week. Seventh week in a row.  That's a nice streak. What makes this most interesting is that Fannie and Freddie starting tracking interest rates each week in April of 1971.   37 years ago.   In the history of this tracking, interest rates have NEVER b...
12/23/2008
Las Vegas home sales declined 2% from October to November. Condo prices have fallen 18% from prior month.  The medium sales price for single family home is $186,000 contributed by falling prices in the North and East. A total of 2,183 single family homes were sold in November just 258 shy of Nove...
12/23/2008
Go get your $7,500 15-year interest free loan from the government Tax credit offered to new homebuyers Expires June 30, 2009!   Who is eligible? First-time homebuyers or any homebuyers who have not owned a principal residence in the last three years How does it work? Eligible purchasers can claim...
12/16/2008
Las Vegas clark county population 1.9MM people There is a 7.75 percent sales tax on purchases and a 9 percent tax on hotel rooms in Las Vegas. Property tax is calcuated at assessed value (equates to 35% of the taxable value) multiply by the tax ratio (~0.328). This is approximately 1% of the valu...
12/16/2008
I qualify folks on what they can afford as a Monthly Payment which translates into a Home Price Range. I want to illustrate what waiting will actually cost in real dollars. Loan Amount Rate Payment Payment Rate Home $320,000.00 @ 5.25% = $1,766.00  $1,766.00 @ 6.00% = $294,700.00 $1,766.00 @ 6.50...
12/03/2008
1. Less competition for buyers 2. Winter prospects are more serious 3. Homes show better during holidays 4. One of the highest ratios of 'Listings sold' to 'Listings Taken' occur during this time of year 5. May receive more money for your home because there is less seller competition 6. Throughou...
11/26/2008
1) Uncertainly regarding loan programs and limits. May n ot be available in 2009 after the changes in our government take place. 2) Because there are less buyers shopping for a home at this time you may be in a stronger negotiating position. 3) With fewer buyers on the market during the holiday, ...
11/26/2008
Thank you for the opportunity to inform you of a program that is made available by the State of Nevada for "First Time Homebuyers".  This program has been the best kept secret in the mortgage industry even though it's been available for more than 30 years.  Especially in this volatile market and ...
11/25/2008
This Mortgagee Letter provides notice of the 2009 comprehensive update to the Federal Housing Administration's (FHA) single-family mortgage limits as a result of the enactment of the Housing and Economic Recovery Act of 2008 (HERA).  The mortgage limits described in this Mortgagee Letter are effe...
11/25/2008
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