Monthly Archives: May 2011

Government’s failure to cure underwater homes causes learned helplessness in its people

May 31, 2011: The more people living in the United States fail to do anything about negative equity, the more they convince themselves that there’s nothing they can do. The more people perceive events as uncontrollable and unpredictable, the more … Continue reading

Posted in Foreclosures Short Sales Mortgage Litigation, Real Estate Trends, Uncategorized | 1 Comment

Eighty Percent of North Las Vegans Won’t Move Because They Are Underwater

May 31, 2011: In parts of North Las Vegas, more than 80% of homeowners owe more on their mortgages than their homes are worth. Staying is expensive, but many can’t afford to move. There are two kinds of behavior that … Continue reading

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Case-Shiller index confirms double dip for first quarter housing prices

ITS OFFICIAL DOUBLE DIP CONFIRMED May 31, 2011: According to S&P’s latest report, home prices in 12 cities covered by the index fell to their lowest levels of the current housing cycle: Atlanta, Charlotte, Chicago, Cleveland, Detroit, Las Vegas, Miami, … Continue reading

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Nevada Economic Chairman John Restrepo Files Bankruptcy

When the $5 trillion housing bubble ruptured like an aneurism in 2008, the economy imploded. Home values plummeted — some say back to earth where they belonged in the first place — and millions of jobs suddenly vanished. Restrepo said … Continue reading

Posted in Economic Trends, Off Topic, Uncategorized | Leave a comment

Glut of Vacant Homes Keeps Housing Prices Low

May 30, 2011: 14.3 million: The number of homes vacant year-round as of the end of March 2011 How long will the housing market take to hit bottom? A lot depends on whether people will want to occupy millions of … Continue reading

Posted in Real Estate Trends, Uncategorized | 1 Comment

Las Vegas Real Estate Flat Lines

NO END IN SIGHT Both homeowners and renters are more cautiously optimistic during the first quarter of 2011 than in the fourth quarter of 2010, according to Fannie Mae’s latest national housing survey. However, they continue to lack confidence in … Continue reading

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Las Vegas Strategic Defaults and Short Sales Continue to Grow- Good News for Realtors

SHORT SALE AGENTS CAN MAKE A KILLING According to Wikipedia, a strategic default is “the decision by a borrower to stop making payments (i.e., default) on a debt despite having the financial ability to make the payments.” In late January … Continue reading

Posted in Foreclosures Short Sales Mortgage Litigation, Uncategorized | 1 Comment

Investors Heating Up the Market

THE VEGAS REAL ESTATE MARKET IS HEATING UP More investors are bullish about home prices in the coming year and are beginning to aggressively hunt for residential real estate investments in their own backyards, according to a new survey conducted … Continue reading

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Short Sale Flopping Still Hapening

SHORT SALES ARE HAPPENING IN VEGAS THIS SUMMER One in every 52 short sales in the first half of 2010 were “suspicious,” with the lender possibly falling victim to fraud, according to an analysis by CoreLogic..California led other states in … Continue reading

Posted in Foreclosures Short Sales Mortgage Litigation, Real Estate Trends, Uncategorized | 1 Comment

Short Sales Here to Stay for Years to Come

May 24, 2011: The nation’s biggest banks and mortgage lenders have steadily amassed real estate empires, acquiring a glut of foreclosed homes that threatens to deepen the housing slump and create a further drag on the economic recovery. All told, … Continue reading

Posted in Foreclosures Short Sales Mortgage Litigation, Real Estate Trends, Uncategorized | 1 Comment