Monthly Archives: April 2010

Strategic Defaults on Mortgages are Rising

Some homeowners believe that lenders are failing to pursue those who default on their mortgages, which creates a risk that a growing number of homeowners will walk away from their homes even if they can afford monthly payments, states a … Continue reading

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Las Vegas Short Sale Program Allows Prospective Owner-occupants First Right to a Short Sale

A BLURY VISION OF HOPE A pilot program from Fannie Mae could help level the playing field between cash-laden investors and owner-occupants bidding on low-priced foreclosure homes in Las Vegas, the president of a real estate organization said Thursday. Fannie … Continue reading

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Las Vegas Home Sales Yo Yo Up

Las Vegas region home sales rose last month to the highest level for a March in four years as buyers took advantage of soon-to-expire tax credits and low home prices and mortgage rates. The median sale price inched up from … Continue reading

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Las Vegas posts nation’s highest metropolitan foreclosure rate

Las Vegas continued to post the nation’s highest metropolitan foreclosure rate during the first quarter according to the Las Vegas Sun. California-based RealtyTrac said one in 28 housing units received a foreclosure filing in the first quarter, nearly five times … Continue reading

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Will Arizona’s Strict Immigration Law Increase Migration Into Nevada?

¡PURA VIDA TICA! The Arizona governor just signed a bill requiring local law enforcement to question a person if the officer reasonably believes the person is in the state illegally. It is estimated that 400,000 people reside illegally in Arizona. … Continue reading

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The Nevada Race for the Senate

VOTE FOR NEVADA MIGHT the Republicans seize the Senate from the Democrats in November’s mid-term elections? It looks a tremendously long shot; at present the Democrats control 59 of the 100 seats, and even the most optimistic list of probable … Continue reading

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Homeowners who have done short sales will qualify for a new mortgage in two years.

Here’s some good news for people who had to give the deed on their house back to the bank because of financial problems, or who have done a short sale to avoid foreclosure: You may not have to wait the … Continue reading

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Analyst forecasts fewer Las Vegas foreclosures

LAS VEGAS IS MAKING PROGRESS BUT NOT YET FINISHED The statistics are stacked against Las Vegas: highest foreclosure rate in the nation, 80 percent of homeowners “underwater” on their mortgage, half of homes with 25 percent or more negative equity, … Continue reading

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Las Vegas Still Number One in Foreclosures

The number of foreclosure filings on Nevada homes rose 34 percent in March compared with February, and the delinquency rate for homeowners is also on the rise, according to statistics released by research firms. It’s too soon to say whether … Continue reading

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The Economics Of Why Short Sales Take So Long

BANKS’ INCENTIVES TO SELL SHORT CAN BE A LITTLE DREAMY Understanding a bank’s financial motivations will help buyer’s grasp why short sales seem to take so LONG and why often the banks seem to be operating contrary to market conditions. … Continue reading

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