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April 21, 2009 22:25:03

Las Vegas Foreclosures hit record in March 2009 - More Bank-Owned Inventory Coming On the Market in Las Vegas

Foreclosures in March hit record locally  - Jump follows end of moratorium reports The Las Vegas Review Journal, April 17, 2009

Here is an excerpt of the article by Hubble Smith:

Clark County saw 7,747 homes taken by banks during the month, more than double February's 3,286 foreclosures and four times the 1,937 in March 2008. The first-quarter total of 13,642 is on pace to shatter last year's record 31,416 foreclosures in Clark County, Sacramento, Calif.-based Foreclosures.com reported.

The U.S. Foreclosure Index rose 44 percent in March as 175,199 homes were lost to foreclosure, up from 121,756 in February, Foreclosures.com reported.

Clark County pre-foreclosure filings -- the foreclosure process that starts with a notice of default -- jumped to 11,593 in March, compared with 7,635 the previous month.

Nevada ranks No. 8 in foreclosures nationwide with 26,760 real estate-owned -- bank-owned -- properties over the past six months. California is first with 130,855 REOs, followed by Florida, 77,542, and Arizona, 53,928.

Las Vegas Foreclosures March 2009

All of the REO experts and listing agents we have talked to in Las Vegas are preparing for more properties to hit the market very soon.  There has been alot of talk and waiting as the banks placed a moratorium on foreclosures as the administration unveiled the Housing and Recovery plans. These statistics as reported by Realty Trac and Foreclosures.com clearly reflect the increase starting in March of pre-foreclosure activity (which means the filing of a Notice of Default to a homeowner and the beginning of the foreclosure process) and Foreclosures (signifies bank has title to the property).  What should follow next is the banks (Asset managers) will begin assigning the properties to local REO agents to list them for sale. 

Stay on top of all the latest Las Vegas Foreclosure listings and information right here!

Las Vegas Foreclosures

 

 

 

 

 

 

Are you a Homeowner Considering a Las Vegas Short Sale?

 

The O'Brien-Nikolv Team are experts with the Las Vegas short sale process.

Jan O'Brien is the co-author of the Certified Foreclosure Alternatives Consultant designation course.   Call Us direct at 702-608-5260 to schedule a Foreclosure Alternatives Consultation today.

 

 

 

 

 






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April 21, 2009 03:12:00

Red Rock Country Club Foreclosures for Sale in Las Vegas NV Real Estate

Here is a current list of available bank-owned homes in Red Rock Country Club, Las Vegas, NV. This list of foreclosure properties is updated daily - just click on the photo for more information. Sign up for a Free VIP account for 24/7 access to all Las Vegas foreclosure properties and resale listings; to see the address and multiple photos.

Las Vegas Foreclosures


Are you a Homeowner Considering a Las Vegas Short Sale?

The O'Brien-Nikolov Team are experts with the Las Vegas short sale process.

Jan O'Brien is the co-author of the Certified Foreclosure Alternatives Consultant designation course.  
Call Us direct at 702-608-5260 to schedule a Foreclosure Alternatives Consultation today.

 

 


 






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April 16, 2009 02:56:39

Foreclosures in Painted Desert for sale in Las Vegas Nevada

Painted Desert Foreclosures for sale. Click on the pictures below!

 

Are you a Homeowner Considering a Las Vegas Short Sale?

The O'Brien-Nikolov Team are experts with the Las Vegas short sale process.

Jan O'Brien is the co-author of the Certified Foreclosure Alternatives Consultant designation course.  
Call Us direct at 702-608-5260 to schedule a Foreclosure Alternatives Consultation today.

 

 

 

 


 






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April 13, 2009 02:02:54

What is a HUD home? How to Buy a Nevada HUD Home

What is a HUD Home?
When a homeowner with a Federal Housing Administration (FHA) insured mortgage can't meet the payments, the lender forecloses on the home; FHA pays the lender what is owed; and then the United States Department of Housing and Urban Development (HUD) takes ownership of the home. Then HUD sells it at market value as quickly as possible.

We have a team of real estate agents who are skilled in the unique HUD online bid procedures.  We have access to all the available properties and are ready to assist you with submitting a bid to purchase.
 
Call us today for a list of currently available HUD Homes in the Las Vegas area 702-608-5260

Access to the Property
Perspective purchasers MUST be accompanied by a broker or agent when viewing any HUD home listed for sale. Buyers may not enter a house without their broker/agent for any reason prior to closing. Brokers and/or agents must accompany any individual performing services such as home inspections, appraisals, or certifications. Keys are not permitted to be lent to any other individuals associated with any sales transactions.

Who can Purchase a HUD Home?
Any individual who can qualify for a mortgage or who can pay cash may purchase a HUD home. Purchasers must use a broker or agent who is registered with HUD to place a bid on a property. Purchasers must also have a pre-qualification letter from a lender or proof of cash funds in the amount of or greater than the property they are purchasing.

How are HUD Homes Sold?
All HUD Homes are listed on our website at their "AS-IS" fair market value. Purchasers must obtain the services of a HUD Registered Real Estate Agent. Agents may submit bids on HUD properties on behalf of their buyers. The bid that meets the acceptable threshold and has the highest net to HUD receives a provisional bid acceptance subject to receipt of all required documents. Once a bid is accepted an original Sales Contract Package must be submitted to MCB with 48 hours.

How is Fair Market Value determined?
Fair Market Value is determined by a licensed FHA appraiser. Copies of the FHA appraisal are available to the lender by request after a property is under contract. If a property is exposed to the market without any acceptable offers then a reduction of the listed price may occur.

Does HUD make any repairs to the property?
No. All HUD properties are sold in their "AS-IS" condition. There are no representations or warranties, expressed or implied, on any HUD property. HUD does not guarantee the condition of any property, FHA-insurable or not, nor whether it meets local codes or zoning requirements. Purchasers are advised that there may be code and/or zoning violations on these properties and that it is the responsibility of the purchaser to identify these violations. Buyers are very strongly encouraged to have homes inspected by a qualified home inspection company to satisfy themselves as to the condition of the property at the time of sale.


Are you looking to purchase property in the Las Vegas area?

Now is the time to buy Las Vegas Homes.  Contact Us directly at 702-608-5260.

Search for Las Vegas Foreclosures

Use our Interactive-Map Search for all Las Vegas Homes for Sale

Search Our Las Vegas NEW Homes Database

 


 






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April 07, 2009 18:10:36

Felipe Crook interviewed by Financial Times about luxury foreclosures in Las Vegas

I was contacted recently by a report from the Financial Times about Luxury Foreclosures in Las Vegas. Her spin on the foreclosure market was that buyers are now getting the cream of the crop because of the worsening economy. Here's a little excerpt from the article:

Las Vegas real estate agent Felipe Crook confirms that upmarket foreclosures are "a hot commodity" in his city, estimating that about a quarter of the 510 luxury homes that changed hands last year were foreclosures or short sales, in which the owner sells at a price below the value of the outstanding mortgage, with bank approval so both parties can avoid the hassle of foreclosure. Penthouses with mountain views and a gated mansion in a golf course community are among the homes he sold for around $1m each, half their value three years ago. Still, "property that is aggressively priced is getting multiple offers", he says.

To read the full article, click here "Repossessed Riches" by Judith Matloff. I'm very grateful for this perspective on our current market. There are so many wonderful opportunities in our market. There were over 3500 properties sold in March 2009! Prices are below "pre-boom" levels and some are even back to prices in the 90's! It's a great time to buy, please call me toll free at 1-866-589-1646 or email me at felipe@felipecrook.com

Do you want to have a customized property search, save your favorites, and get notified of new properties that come on to the market? Click the search button below to get up to date foreclosure searches:


Las Vegas Foreclosures

 

Are you looking to purchase property in the Las Vegas area?

Now is the time to buy Las Vegas Homes.  Contact Us directly at 702-608-5260.

Search for Las Vegas Foreclosures

Use our Interactive-Map Search for all Las Vegas Homes for Sale

Search Our Las Vegas NEW Homes Database

 

 


 






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April 07, 2009 15:59:03

Beware of Foreclosure Rescue and Loan Modification Scams...Help is Free!

Beware of Foreclosure Rescue Scams - Help Is Free! (Source: MakingHomeAffordable.gov)

  • There is never a fee to get assistance or information about Making Home Affordable from your lender or a HUD-approved housing counselor.

  • Beware of any person or organization that asks you to pay a fee in exchange for housing counseling services or modification of a delinquent loan. Do not pay walk away!

  • Beware of anyone who says they can "save" your home if you sign or transfer over the deed to your house. Do not sign over the deed to your property to any organization or individual unless you are working directly with your mortgage company to forgive your debt.

  • Never submit your mortgage payments to anyone other than your mortgage company without their approval.

The Federal Trade Commission and the Better Business Bureau have both issued recent warnings about foreclosure rescue and loan modification scammers who have been ripping off consumers by typically collecting money upfront and preying upon distressed homeowners. 

FTC Alerts:

MSNBC reports ...Government cracks down on mortgage scams.  Attorney General: FBI investigating about 2,100 mortgage fraud cases


You can get free advice and consultation for your refinance, loan modification and foreclosure needs through several government agencies:

MakingHomeAffordable.gov

FinancialStability.gov

HopeNow.com

FHA Homeownership portal

Las Vegas Foreclosures

 

 

Are you a Homeowner Considering a Las Vegas Short Sale?

 

The O'Brien-Nikolv Team are experts with the Las Vegas short sale process.

Jan O'Brien is the co-author of the Certified Foreclosure Alternatives Consultant designation course.   Call Us direct at 702-608-5260 to schedule a Foreclosure Alternatives Consultation today.

 

 

 

 

 


 






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April 01, 2009 13:05:21

Federal Housing Tax Credit for First-Time Buyers

Many of my clients have asked me questions about the first time home buyer credits. What are the qualifications? How much is the credit? This is a video interview that: Tax Economist Answers Questions About the Home Buyer Credit. Rob Dietz, Ph.D., director of tax issues for the National Association of Home Builders, discusses the $8,000 first-time home buyer tax credit in this videotaped interview.   Now is an amazing time to buy a home.  Interest rates are historically low, prices home come down more than 35%, and this new tax credit gives you an extra bonus.   If you'd like to discuss your real estate needs, please call me toll free at 1-866-589-1646 or email me at felipe@felipecrook.com.   The Las Vegas real estate market is hot right now, and cheaper than it has been in over 5 years.

Not finding what you're looking for? Do you want to have a customized property search, save your favorites, and get notified of new properties that come on to the market? Click the search button below to get up to date foreclosure searches:


Las Vegas Foreclosures

 

 

Are you looking to purchase property in the Las Vegas area?

Now is the time to buy Las Vegas Homes.  Contact Us directly at 702-608-5260.

Search for Las Vegas Foreclosures

Use our Interactive-Map Search for all Las Vegas Homes for Sale

Search Our Las Vegas NEW Homes Database