Robin Camacho's House Advantage

Moving Day Has Arrived

Tue, 27 Oct 2009 12:48:00 -0800

This is the last entry on the old blog system.

Please alter your book marks to reflect the new WordPress site:

robin.lvablog.com

Short Sales - It's The New Black

Sat, 24 Oct 2009 21:48:00 -0800

So I'm in class earning my Certified Distressed Properties Expert (CDPE) designation, and who am I surrounded by? REO agents. Hmmmm...why are REO agents learning to help people avoid foreclosures? Don't they make their living selling foreclosures for...

Las Vegas Home Sales Remain Strong

Sat, 10 Oct 2009 10:30:00 -0800

Just a few quick statistics on the market before I run to show homes to a client looking for a second home: Median price rose to $138,000 4039 homes were sold in September &nb...

How To Buy A Las Vegas Foreclosure

Fri, 09 Oct 2009 20:41:00 -0800

If you've made more than one offer on a Las Vegas foreclosure lately, you'll totally get this. With banks finally trying to spread their REO listings among more than a small handful of listing agents, we come up against new roadblocks, er I mean nav...

Nevada Law Change Impacts Loan Officer / Real Estate Agents

Mon, 28 Sep 2009 19:05:00 -0800

There are some upset mortgage officers in Nevada tonight. As of October 1, real estate licensees in Nevada can no longer hold a mortgage license. I don't know why everyone hasn't known for months, but many are just getting the word from the mortgage...

Why People Buy Second Homes in Las Vegas

Fri, 25 Sep 2009 19:30:00 -0800

I got home from the Bahamas on Saturday planning to spend a few more days in my sun/rum/time continuum, that zone of complete relaxation. I made the mistake of letting my office know I was back in town. So here I've been since Sunday working 15 ...

Las Vegas New Home Prices Continue to Rise

Sat, 19 Sep 2009 09:06:00 -0800

The price of new homes sold in Las Vegas in August rose 1.7%. That's the 3rd consecutive month in which the price of new homes sold has risen, albeit slightly. More evidence suggesting that we hit bottom a few months ago. Nearly 3900 homes were...

Demand for Las Vegas REOs Remains High

Wed, 16 Sep 2009 13:09:00 -0800

Incredibly, the demand for Las Vegas homes is still strong, even in traditionally-slow September. One of my clients just had an offer rejected at $60,000 over list. The winning cash offer trumped our 30%-down offer. Dean and Jan have been looki...

Las Vegas Homes $1,000,000 Off Sale

Thu, 27 Aug 2009 00:24:00 -0800

I just don't get it some days. Yesterday my partner Ron Branson and I showed a 9,000+ square foot Spanish Trails home to a nice young woman and her mother. They loved this impeccable home, and arranged to have Ron show the mother's husband a short t...

My Cool New Tool

Fri, 21 Aug 2009 00:44:00 -0800

I'm checking out the incredible new tool Ron just bought for me - a miniature keyboard that is Bluetooth enabled. Unbelievable...I'm typing on a little keyboard hooked up to my cell phone! Ron apparently doesn't want me to have any excuse to miss ...

A Complete List of All Las Vegas REOs is Now Available

Thu, 20 Aug 2009 00:43:00 -0800

Cash is King, once again. I know this is Las Vegas, and you were thinking that Elvis is the King. (Elvis is dead. No, really.) Cash is back - it's the new black. I've never seen so many banks ready to take less money for cash offers. Of course ...

Has Las Vegas Real Estate Hit Bottom?

Mon, 03 Aug 2009 00:27:00 -0800

Do you recall what you were doing on the afternoon of April 24? I generally can barely recall what I was doing yesterday, but I will always remember April 24. That's the day the Las Vegas real estate market appeared to hit bottom. Unlike most Real...

Las Vegas Housing Shortage? Well, on Foreclosures Anyway.

Tue, 21 Jul 2009 18:01:00 -0800

If you blinked you probably missed the bottom of the market. For the first time in a long time, prices are rising slightly. In June approximately 2400 bank-owned single family homes were sold. There are now only 1990 single family...

Housing Shortage in Las Vegas?

Sat, 20 Jun 2009 09:07:00 -0800

If I said we had a housing shortage, people would think I'd lost my sanity. It certainly feels like a shortage. If you look at raw numbers, the fact is that we still have an oversupply of homes in the Las Vegas area. But with most of the homes on th...

What if My Las Vegas Home Doesn't Appraise?

Sat, 13 Jun 2009 10:09:00 -0800

It's times like this that make me so happy to be a Realtor. Real estate is all about giving people the key to their new home - their new lifestyle. It's not about recognition, as your broker would have you believe. It's not just about being a commun...

Where Have All the REOs Gone?

Thu, 11 Jun 2009 18:23:00 -0800

The foreclosure tsunami continues to recede. As of this morning, there are only 1,899 REOs listed on the MLS in Las Vegas, creating the shortage that is resulting in multiple offers on everything from McMansions to doghouses. Ac...

There Really is a Bulk REO Santa Clause, Virginia

Tue, 02 Jun 2009 16:16:00 -0800

Got $1,000,000? Oh, why didn't I put together that investment group I've been thinking about? If I weren't so busy selling real estate, I'd sure be busy buying real estate. I just got wind of a bank holding 3400 REOs for bulk sale at well below cur...

Las Vegas Foreclosures in Short Supply

Mon, 25 May 2009 23:11:00 -0800

I feel like a creep. I've had at least half a dozen LVA readers or existing clients ask me lately why I haven't been writing my blog, House Advantage. LVA reader Judy T. hit the nail on the head, asking if I'm out contributing to the phenomenal surg...

Las Vegas Home Sales Skyrocketing (Again)

Sat, 11 Apr 2009 11:05:00 -0800

It only took a question from a reader to get me back to my computer. We've been showing hundreds of homes, writing dozens of offers, and literally pushing escrows through a system that's becoming bogged down as sales skyrocket here in Las Vegas (more...

Wake Up, Roger, and Own Your Own Piece of Las Vegas

Sun, 22 Mar 2009 11:53:00 -0800

I've been showing Roger homes for two weeks. He and his wife, Lisa, need to buy quickly; or so he told me three weeks ago when he first called me. Roger came to me through his employers, who had used my services to buy&n...

It's a Dry Heat, as We Say in Las Vegas

Sat, 21 Mar 2009 21:47:00 -0800

We've been extremely busy again; so busy that the Top 10 hasn't been updated for a bit. I know, I know ... but everyone is looking to buy right now. Offers and open escrows come first. Today I've been showing homes all day to three buyers and writing...

How Far Will Mortgage Rates Fall?

Thu, 19 Mar 2009 12:38:00 -0800

Mortgage rates are falling fast, thanks to the Federal Open Market Committee's statement increasing support for the mortgage market. U.S. central bankers announced plans yesterday to buy as much as $300 billion of long-term Treasuries, and to more th...

On Las Vegas REOs, Banks Frequently Get List Price or More

Tue, 17 Mar 2009 23:27:00 -0800

With an increasing number of REOs coming on the market in the past 90 days, it’s still too soon to predict when prices will stabilize. Sales are down a bit for February, but should rise in March. Having broken the law of Supply & Dem...

Record Home Sales in February for at Least One Las Vegas Realtor

Thu, 05 Mar 2009 10:19:00 -0800

HELP WANTED: Aggressive, experienced Realtor with impeccable character, rock star potential and Mother Theresa work ethic. Must be drug-free, yet somehow able to work 24/7 with no sleep or food. Only individuals with 3-4 hands will be considered...

Las Vegas Homes Appreciate 3% in 2009

Mon, 23 Feb 2009 13:45:00 -0800

That blog title wasn't entirely b.s. to grab your attention; according to the annual recap of home values, ONE of our 58 Las Vegas zip codes actually saw appreciation in 2008. So technically speaking, it's true. I'm looking for something th...

Beating Out the Competition on a Las Vegas Foreclosure

Wed, 18 Feb 2009 23:57:00 -0800

I've been helping Kevin and June look for a home in the $220,000 range for 2 weeks. They are moving down from a beautiful $700,000 home previously valued at over $1m. They simply want to downsize; the kids are gone and they want to get their San Dieg...

Using the $8000 First-Time Home Buyer Credit for a Down Payment

Tue, 17 Feb 2009 23:39:00 -0800

Two exciting things on the home front in the same day? (Get it? “Home” front? Oh, sometimes I kill myself.) I’m up late sharing this information, which I just managed to track down, because there are some exciting possibilities he...

Fannie Mae Rule Change Will Spur Investment in Las Vegas Foreclosures

Tue, 17 Feb 2009 10:41:00 -0800

Finally, a move by Fannie Mae that should help reduce the number of foreclosures on the market. For investors, this is a double-edged sword; financing is more accessible, but the result could be increased competition for the best deals, especially as...

Another Late Night for Las Vegas' Magical Real Estate Fairies

Tue, 10 Feb 2009 22:31:00 -0800

Looks like we'll be working very late tonight to help Jamie and Cory find another home. I've got a pot of Jamaican Blue Mountain Coffee started...the last of my whole roasted beans until I can get to Grand Cayman again. Sigh. I've promised my clients...

$1250 per Month Rent for a $59,900 Las Vegas Home

Sun, 08 Feb 2009 21:05:00 -0800

Have my last few columns started with "Now I've seen everything?" Every day I see something else amazing, and I want to share it with my readers. Of course, I can't blog every day or I would...but I feel like I'm repeating myself with the &...

$2 Million Las Vegas Home for Half Price

Tue, 27 Jan 2009 21:22:00 -0800

Yesterday my plan was to write an offer for $1.1m on a home that appraised for twice that amount a few years ago. My clients, Mike and Sonya, would have owned that stunning home soon. What is so hard to understand about "NOW"? Sonya loved ...

$29,900 Las Vegas Home with Pool

Sun, 25 Jan 2009 22:53:00 -0800

Now I've seen it all. On Friday I had an offer accepted on a home that was priced at $29,900. The couple whose offer was accepted, Las Vegas Advisor readers, made a cash offer of $32,100. Sure, for $32,000 the home obviously needs a lot of work. Bu...

Las Vegas Real Estate Comeback Could Be Rooted in it's Globalization

Sun, 25 Jan 2009 22:48:00 -0800

Who is Richard Lee, and why is his upbeat attitude making me so happy? Richard Lee is a Vice President with First American Title in Las Vegas. More importantly, to me at least, is that Richard Lee is SO on top of things that when he speaks...

What Will Happen with Las Vegas Real Estate in 2009

Thu, 22 Jan 2009 22:16:00 -0800

I have put off my 2009 prediction as long as I can; one reader just called me on my delay. It's very hard to have confidence in anything in an economy that most of us have never experienced. People are buying homes – lots of homes –&nbs...

REO Counter Offers

Wed, 14 Jan 2009 00:10:00 -0800

After several months of looking, Tye and Suzie finally found the perfect home on New Years Day. This 3500 sq. ft. home had everything they wanted, and as an REO it was priced to sell. As soon as the bank opened for business on January 2, I was work...

Las Vegas Home Sales Still Soaring

Fri, 09 Jan 2009 13:29:00 -0800

Hello, friends. Where did the past 3 weeks go!? We just wrapped up an incredibly successful year at Top10RealEstateValues.com. We are still struggling with growth issues, and I appreciate all of you who have written and are so patient. I can't belie...

2009 Las Vegas Market Prediction Coming Soon

Mon, 15 Dec 2008 14:56:00 -0800

In a previous column I mentioned Tony and Lyla, who had purchased 3 homes in about 60 days. We now have their 5th home in escrow; 4 of these are in the same development. By buying rentals in the same neighborhood they have reduced their manageme...

Are We There Yet? Are We There Yet? Will This Las Vegas Housing Ride Ever End?

Thu, 04 Dec 2008 21:44:00 -0800

Just for the hell of it, I asked Ron to run some stats last night. We haven't been doing this on a regular basis for months; it's pretty obvious to everyone where the market's been headed. It was interesting to note that the median price of homes in ...

The Perfect Storm - Not! - In Las Vegas Real Estate

Wed, 26 Nov 2008 10:55:00 -0800

I'd love to say I just returned from Grand Cayman, but it's actually been nearly 3 weeks. I arrived home just in time for our Top10 researcher, Ron, to leave for Grand Cayman for 2 weeks. A very nice way for both of us to cap off our best year ever, ...

Mortgage Rates are Falling

Mon, 29 Sep 2008 16:37:00 -0800

Everyone and their uncle wanted to buy a Las Vegas home in August. As I said, I suddenly developed the Midas Touch. I am just beginning to get caught up as escrows close before the end of the month. Gui bought another house, and if you've been with ...

Investment Homes with Cash Flow

Tue, 16 Sep 2008 13:19:00 -0800

According to the Las Vegas Review Journal, some lucky people are making money on foreclosures. The writer interviewed some of us in the industry who are thriving in this market (http://www.lvrj.com/business/28385054.html), but neglected to inter...

New Cap on Investment Homes

Tue, 09 Sep 2008 11:50:00 -0800

With it's last dying breath as a privately-held company, Fannie Mae instituted new guidelines that may seriously impact real estate investors. Mortgage rates are dropping as a result of the fed's takeover of Fannie Mae and Freddie Mac; however, the n...

The Las Vegas Market is on Fire

Fri, 05 Sep 2008 15:49:00 -0800

On July 26, I triumphantly returned after my son's burns were healing, announcing that I would be back on a regular basis and with some exciting enhancements to the Top 10. And on July 27, I was blessed with the Midas touch. As a result, we are worki...

Las Vegas House Sales Remain Strong

Sat, 26 Jul 2008 00:21:00 -0800

It’s been 30 days since I had to pull back in certain areas due to my son’s burns. I am happy to say that my son is now out of the hospital, that he will probably not need a second surgery, and that one arm, at least, is healing very we...

Time out for family

Mon, 30 Jun 2008 18:11:00 -0800

Editor's Note: Robin informs us that her son suffered second- and third-degree burns six days ago. At present, she is caring for him in the UMC burn unit. "It has been impossible to get to a computer, much less work!", she writes. Our thou...

Relocating to Las Vegas

Thu, 19 Jun 2008 14:50:00 -0800

I've just returned from Gig Harbor, WA. I spent 5 days visiting with my daughter after attending her graduation from Evergreen College. I’m 3-for-3: three kids, all three now college graduates. A writer, an attorney and a chef. I feel I&rsquo...

Be Ready to Pounce When You Find the Right Home

Thu, 12 Jun 2008 23:11:00 -0800

Robby has been looking to move up to a bigger home. For 90 days we've been in an Internet relationship as Realtor and client. I send Robby an automatic message each time a property that meets his parameters is listed for sale. When a new property is ...

Is it the Bottom of the Market?

Wed, 11 Jun 2008 16:55:00 -0800

The "soft market" hit of 5% for our designation as a "declining market" has been lifted. This is great news for the Las Vegas real estate market, and another sign that we may be on the road to recovery. Lenders were requiring an ...

Las Vegas House Prices Have Likely Hit Bottom

Tue, 10 Jun 2008 15:05:00 -0800

“It’s only a matter of time until the pendulum swings.” How many times have I said this, dear readers? It looks like we just might have reached the bottom of the market in Las Vegas. And not just the bottom in sales that we saw in F...

Las Vegas Continues to Grow

Tue, 03 Jun 2008 00:52:00 -0800

I swear, I don't know where the time goes. It is so difficult to sit my butt in my chair and update readers on our market when I'm out selling REOs! I'm sure it will be much easier when the busy season is over. Right now I need to work hard while my ...

Las Vegas Home Sales Rise Due to Foreclosures

Tue, 27 May 2008 14:57:00 -0800

Damn, I'm good. It's hard to buck what everyone else is saying, but with real-time information, I know what I know. Thank you to my financial buddy, Brandon Foor, for forwarding today's Wall Street Journal article on rising home sales in certain mar...

Las Vegas Home Sales are NOT Declining

Fri, 23 May 2008 16:34:00 -0800

Before you ask: No, Las Vegas home sales are not declining as one would think if one read Bloomberg's article this morning. I read it, and here's one who has local statistics. Real estate is local; this morning's story is undoubtedly correct on a nat...

Las Vegas Investment Homes - A Primer

Tue, 13 May 2008 23:54:00 -0800

Everyone wants their piece of Las Vegas. In fact, some people want several pieces; these are generally the ones who want their piece of the pie a la mode...with cash flow on top! There are actually some homes in Las Vegas selling for less than the pr...

Insuring Your Las Vegas Home or Condo

Fri, 09 May 2008 16:25:00 -0800

As my readers know, I often share a reader's question if I think the answer may be useful to other readers. Richard C wrote, "Thanks for the information on escrow. We don't use title companies here; my attorney has always handled my closings. Ca...

Las Vegas Foreclosures Most Sought After

Mon, 05 May 2008 18:13:00 -0800

She's baaaaaaaccck... During the mid-paleozoic era of my teen years, dentistry was not as advanced as it is today. I've been recovering from a second dental surgery in just 3 weeks to correct the last of 3 failed root canals. This last one was ...

Condo Prices in Las Vegas Rose in March

Sun, 27 Apr 2008 13:58:00 -0800

Sales are up ... no news there. But for all of you who write asking about condos, take note: condo prices are beginning to rise. There are fewer than 5,400 condos on the market, and I think I've had 6,000 inquiries about condos! (Okay, it's subs...

Prices on Las Vegas Homes May be Nearing the Bottom in Certain Neighborhoods

Tue, 22 Apr 2008 16:30:00 -0800

I’ve noticed a bit of a phenomenon that suggests to me that prices are beginning to stabilize in certain areas. Overall, prices are still dropping while sales are rising. However, we may be reaching the bottom in specific developments. In Dece...

Nearly 4400 Sq. Ft. Home in Mountains Edge, Las Vegas for $369,900?!

Mon, 21 Apr 2008 18:30:00 -0800

The last few days have been a whirlwind of showings, Offers and Counter Offers. Maybe it’s the incredible weather—that always brings people out to look. Or maybe it’s opportunities like the 4,392 square foot home in Mountains ...

Nevada Escrow Practices

Wed, 16 Apr 2008 13:44:00 -0800

I frequently receive questions from my readers in my personal e-mail, and I make it a point to respond to every question. It just occurred to me that some questions repeatedly pop up, and sometimes the answer is universal enough that it will be of in...

Maybe You Should Think Outside the Box on Las Vegas Foreclosures

Mon, 14 Apr 2008 13:01:00 -0800

I received an interesting comment from Judy, a reader, regarding good investment areas in the Las Vegas area. I'll respond more fully later, but I found it fascinating that so many "experts" are telling Judy where to invest and where not to...

Las Vegas Homes for $57 Per Square Foot

Fri, 11 Apr 2008 16:51:00 -0800

It’s been an interesting week in Las Vegas real estate. I’ve seen three homes this week listed at $57 per square foot or less, which is incredible. Almost unbelievable, really. So is it too good to be true? It is for all but one of those ...

Everyone Wants Their Las Vegas Retirement Home

Wed, 09 Apr 2008 20:27:00 -0800

I’ve had several readers ask questions recently, and I think the answers to these two would be of interest to most of my readers: Deb recently asked why she read in my blog that sales are increasing, yet read the following in ...

Will the National Economy Affect Las Vegas Housing Prices?

Tue, 08 Apr 2008 16:33:00 -0800

I’ve received a couple of questions regarding financial news lately, and how the national economy will impact the Las Vegas housing market. As we all know, the nation’s economy has been on a roller-coaster ride for weeks, beginning with...

Las Vegas Home at $100,000 Under Market Value

Mon, 07 Apr 2008 21:22:00 -0800

Gui’s Story: The Final Chapter. Wow, what a twisted tale. For those of you who have been following my blog since its inception, you’ll remember Gui, The Man Who Would Not Heed Advice. This deal really tested my patience and my sense of ...

Countrywide Cap Will Help Buyers

Mon, 31 Mar 2008 15:32:00 -0800

I'm working on a blog entry addressing several important questions I've received from readers this week. But I interrupt my research to share something important that just crossed my desk. Just over an hour ago, Countrywide notified all of its broke...

Las Vegas Housing Prices Will Bottom Out Soon

Mon, 24 Mar 2008 12:00:00 -0800

Things are looking up in the national housing and financial news this morning. Housing sales are up for February. Of course, readers of this blog have known since early in February that houses are selling in Las Vegas, thanks to my valuable research....

Las Vegas Condo Scene

Mon, 24 Mar 2008 01:41:00 -0800

I attended the Las Vegas Highrise & Condo Association meeting on Friday. This is the first time I've attended a meeting of this dynamic group, and I was very impressed. Cliff Korman of Kirkor, the architectural firm on Sullivan Square project, sp...

Mortgage Rates Dropped (Or, I Told You So)

Thu, 20 Mar 2008 12:33:00 -0800

If you read my entry on March 4, you received some insight on which direction mortgage rates might take. I shared with you Brandon Foor's comments to me on the matter of refinancing. Those readers who followed my suggestion to get ready should have ...

The Best Time to Buy a Home in Las Vegas

Tue, 18 Mar 2008 13:15:00 -0800

Mountains Edge was the #1 selling master planned community in the nation for 2007, with sales almost double the second-place Phoenix community. Another Las Vegas community, Providence, was #5 in sales. I recently sold an REO at Mountai...

A Runaway Train?

Mon, 17 Mar 2008 17:09:00 -0800

Holy crap. I left town for 4 days, and apparently my assistant neglected to maintain the world in good working order while I was gone. While I was checking on an investment property on the Puget Sound and downing fresh oysters with my Bainbridge Isla...

Who's for Renaming Sin City "REO Vegas"?

Tue, 11 Mar 2008 20:10:00 -0800

The Federal Reserve announced today that it will lend Treasuries in exchange for securities backed by mortgage debt. This is a huge step by the Fed, and was coordinated with European and Canadian central banks. The Fed's latest effort to encoura...

Disappearing Mortgage Loan Officers

Sat, 08 Mar 2008 14:41:00 -0800

Gui's Story, Part IV - How is it that there could be a Part IV to this story when I wrote on February 14 that Gui would be closing on his Las Vegas investment home in 10 days?! I'm very patient and quite accustomed to dealing with difficult people. ...

FHA Loan Limit Raised

Thu, 06 Mar 2008 15:59:00 -0800

Good news, Readers. FHA loan limits for the Las Vegas area have just been raised to $400,000. FHA loans are for first-time homebuyers, so if you are getting ready to help your kids buy a home, this could help you out. FHA loans require only 3% for a ...

How Will Mortgage Rates Drop Again if the Banks Close?

Tue, 04 Mar 2008 18:16:00 -0800

I had an interesting conversation with my financial buddy, Brandon Foor, that got me thinking. My regular readers will remember that Brandon Foor is a college professor, teaching finance and related topics. Brandon relocated to Las Vegas earlier...

Houses at 50% Off, Part II

Fri, 29 Feb 2008 11:00:00 -0800

My apologies, dear House Advantage readers. I've been in Arizona for a mandatory meeting. I was selected to participate in the Nevada Association of Realtors Leadership 2008 program, and our first meetings were in Scottsdale this week. It was ve...

Foreclosure Tour

Mon, 18 Feb 2008 01:02:00 -0800

I received a question from a reader today that made me chuckle. It was a valid question; and it gave me pause to think…and pausing is not something I’ve had a lot of time for in this market. With the accuracy of our Top 10 picks, we&rsqu...

Las Vegas Hold 'Em

Thu, 14 Feb 2008 23:50:00 -0800

Las Vegas Hold ‘Em This is not a good market for flipping houses—I’ll say it again. It’s a great time to buy a house. It’s a terrible time to sell a house. Buy in a buyer’s market, and sell in a seller’s mar...

Fever and Loafing in Las Vegas

Thu, 14 Feb 2008 01:52:00 -0800

The Las Vegas market is heating up quickly, and this is a bad time to be out of touch with our readers. But here I am on Day 5 of my flu-induced writer's block, struggling again to make some sense through the haze. I'm seeing the light at the end of ...

Something About This Guy Just Ticks Me Off

Thu, 07 Feb 2008 11:03:00 -0800

Would you sell heroin to elementary school kids to put money in your pocket just because you knew you could benefit financially and get away with it? I wouldn't be surprised to see such financial advice on a national news Web site after the...

Is This the Bottom -- or What?

Wed, 06 Feb 2008 15:13:00 -0800

I predicted in a Las Vegas Review-Journal article that we were nearing the bottom of the market last November. Wow, did that shake some people up. I received emails from a number of my clients stating that they thought I was crazy, and asking how we ...

January Was a Good Month for Housing

Mon, 04 Feb 2008 12:07:00 -0800

Brandon Foor sent me an interesting item several days ago. While the last day of January saw the stock market end on a high note, up over 170 points for the day, it still does not counter the horrendous month for the stock market. January, 2008 will ...

Beyond the Swanky Neighborhoods

Mon, 04 Feb 2008 10:08:00 -0800

The Las Vegas real estate market is picking up steam, as I predicted in the fall. Prices are still falling, making this a great buyer's market. I'm showing quite a few homes in the 89081 zip code to second-home buyers and investors lately. This is n...

Don't Make the Same Mistake

Wed, 30 Jan 2008 11:23:00 -0800

The Federal Reserve is widely expected to drop the fed funds rate another half-percent when the FOMC meets today. Every time the expectation is there for the rate to drop, clients decide to wait, incorrectly assuming that they will get a lower i...

Houses at 50% Off!

Tue, 29 Jan 2008 17:08:00 -0800

Mix of good news and bad news for Las Vegas housing this month: Foreclosures and short sales are still rising. Prices slipped quite a bit in the past 30 days, and we are seeing more homes priced at 50% off of their previous sales price. January home...

OMG

Thu, 24 Jan 2008 16:26:00 -0800

Oh my gosh ... I just got the word that I received approval on a short sale for two clients at a price even I can't believe. You might recall my earlier remarks about the deal from hell. This was the most difficult short sale I've ever a...

Proposed Stimulus Plan Includes Higher Loan Limits

Thu, 24 Jan 2008 12:38:00 -0800

The economic stimulus plan expected to reach President Bush for his signature in mid-February could bring some very welcome relief to buyers and prospective buyers of real estate. The package includes a provision to raise the caps on FHA loans and h...

A Little Help From My Friends...

Wed, 23 Jan 2008 22:06:00 -0800

Thanks to Brandon Foor for this interesting note: "The Fed’s 75 basis point emergency cut yesterday has lowered local 30-year fixed rates in the Las Vegas area into the 5.5% range. These are some of the lowest rates seen in qu...

Mortgage Rates Drop

Wed, 23 Jan 2008 14:18:00 -0800

I just received an excited note from one of my mortgage colleagues stating that mortgage rates are at historic lows. I don't want to quote her rates because I know rates depend on an individual's overall credit profile...but I was amazed. This is gr...

I'm Back!

Tue, 22 Jan 2008 14:30:00 -0800

I arrived home from Seattle to an interesting email from reader Bob F. The email included two articles that were very bearish on Las Vegas housing, predicting that Las Vegas house prices will fall further. I will be the first to tell you that house p...

Bernanke's Remarks

Thu, 17 Jan 2008 19:47:00 -0800

Brandon Foor, a professor friend whose article graces our real estate page, has kindly offered to fill in for me for a few days while I’m helping my daughter recuperate. Today, Federal Reserve Chairman Ben Bernanke spoke before Congress endors...

It's C-O-L-D in Seattle!

Wed, 16 Jan 2008 00:32:00 -0800

That title wasn't just an attention-grabber. It really IS cold here in the Seattle area. My daughter had major surgery yesterday, and I flew up to help her recuperate. I'll return by Saturday. In the meantime, my Blackberry, fax machine and laptop a...

Selling Short

Sat, 12 Jan 2008 14:19:00 -0800

I despise this guy. With every fiber of my being, I despise this guy. And since I love people, and I’m actually very professional, you have to know I must really dislike this guy to say that! But because I’m a nice girl, I’m going t...

Countrywide Sale

Fri, 11 Jan 2008 15:09:00 -0800

Bank of America agreed today to buy Countrywide, the country's largest mortgage company. This could affect short sale approvals as well as mortgage applications already under consideration. If you are trying to purchase a short sale and the lender is...

Gui Zhong's Story, Part 1

Fri, 11 Jan 2008 01:08:00 -0800

Just before Christmas, I helped my client, Gui Zhong, find a great deal on a rental home. Built in 2006, this North Las Vegas home was large and fairly new—typical of an REO (real estate owned, or repo) near Steve Wynn’s old Shadow Creek ...

Post-Holiday Cheer

Wed, 09 Jan 2008 17:36:00 -0800

Happy post-holidays, LVA readers. I hope that each of you received something as cool as my new Garmin Street Pilot 550 GPS system. I know each of my clients who bought properties in December received a great gift – LOTS of equity in their new i...

Welcome aboard!

Fri, 04 Jan 2008 17:05:00 -0800

Welcome to my inaugural post on my new--and first-ever--blog! I intend to keep you in the know, up to speed, and on your game when it comes to Las Vegas real estate investing. For all my big plans, however, what I'm feeling as I write my first entry ...