Henderson Nevada Homes are a very risky Real Estate Market for at least the next 5 years… which we will explain in this article. One should view a Home Purchase as an investment, and as such one should understand how the economy really is not how they want it to be. Economic Optimism makes great headlines but will send you to poor house if you don’t enter the Henderson Real Estate market from an objective viewpoint.
Beyond 5 years it’s anyone’s guess what is going to happen but right now Las Vegas/Henderson is declining and will probably never be what it was in the early 2000’s and that’s probably a very good thing. This Real Estate market downturn is more than a bursting bubble, this is more than a financial correction, the current downturn is a wake up call to the local citizens to stop believing the hype and start acting responsibly.
No Risk No Reward… this is how the financial markets operate and this is how the Real...
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Loan Modification Nevada Dont Gamble On Losing Your Home
April 14th, 2011 — Las Vegas Mortgage Rates
Nevada has one of the highest foreclosure rates in the country. Prices were very affordable at one time and with the subprime boom, thousands and thousands of people bought homes with bad credit and stated income. These loans were ‘teaser’ loans and only carried low payments for a short period of time, usually 2-3 years. Once this initial period wore off, the rates skyrocketed and payments became unthinkable for many Las Vegas and Nevada residents.
If this describes your situation, there is definitely help. Lenders stand to lose alot of money with each impending foreclosure, so it is in their best interests to modify your loan. By doing this, they know it\’s a win-win situation for both parties. You can afford your payments and stay in your home and the bank can still get paid instead of losing out on mont...
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The Prediction Game
March 24th, 2011 — Las Vegas Mortgage Rates
While discussion on the state of the current US housing market is pretty much finished, experts have turned their attention from Is the housing market falling to Where is it going to fall first? And hardest?
There are many methods to predicting, and while none of them can even be qualified as scientific, there are trusted voices in the din that people look to to see a glimpse of what might happen with real estate markets around the country.
Mark Zandi is one of those voices. He works for Moody’seconomy.com, and he has taken it upon himself to attempt to formulate a prediction as to which housing markets are doomed and which may get off easy.
The results? Zandi predicts dire results in Cape Coral, Florida, where he sees a decline in home values of almost 19 percent. Reno, Nevada will be hard hit as well, with a predicted 17% drop in housing prices. Stockton, California will also be creamed, suffering from ...
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HOW 2 BUY 4CLOSURES 4 PENNIES ON THE DOLLAR
March 23rd, 2011 — Las Vegas Mortgage Rates
THE OPPORTUNITY – Foreclosures are at their highest level ever. In Las Vegas, NV, in the 1st quarter of 2008, 72% of all real estate closings were foreclosures. In Stockton, California, foreclosures represented 45% of all real estate closings for the same period of time. In 2009, foreclosures have escalated across the country providing great opportunity for investors.
FORECLOSURES – Have been around forever, but are in greater abundance today than ever before. How did this happen? Homeowners were under qualified. They took on too much debt. They were hoping for appreciation. The market lost steam. Many owners simply walked away from properties that were worth less than they paid.
THREE PHASES – Foreclosures are divided into 3 phases: Pre-foreclosures, Auctions, and REO’s. Knowing the difference between these phases drastically increases your chances for “Cash At Closing”.
WHY INVEST? – Opportunity, opportunity, opportunity. The trend i...
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US Federal Reserve Bank Loves Bubbles
March 22nd, 2011 — Las Vegas Mortgage Rates
The United States Federal Reserve Bank just can’t help itself. It has an apparent love for bubbles, bubbles, bubbles. As soon as one bubble shows signs of deflating the Fed gets busy and creates another.
First it was the Dot Com bubble that was created by the then Chairman of the Fed, the one and only maestro bureaucrat, Alan ‘Bubbles’ Greenspan of irrational exuberance fame. What a spin master. It was Mr. Greenspan whose actions largely created the bubble during the Asian currency crisis of 1997 and 1998. World financial markets were flooded with liquidity as Alan and the Fed panicked and turned on the cheap credit money making machines to flank speed, damn the consequences.
The consequences made a lot of people think that they were rich. At least for a while. Who would have thought that a great deal of that excess liquidity rammed into financial markets would find its way into the stock market and fuel the Dot Com bubble? Certainly no...
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Foreclosures Could Be the Next PreConstruction
March 21st, 2011 — Las Vegas Mortgage Rates
Following the crash of the equity indexes in 2000, money started flowing into real estate across the country. Investors were just fed up with ‘paper’ gains on intangible assets. The thinking was, and I heard it repeated over and over ‘At least with real estate, I own something..it can never go to zero’. So there it started, gradually at first, but the interest soon started to grow exponentially.
At the same time, mortgage rates on 30 year mortgages were trending downward to historic lows. With investors eager to invest in real estate and ‘cheap’ money available, the game was on. The obvious choice for most was to buy a second home or investment property in a nice resort area, maybe even a place they had vacationed at in the past. Many flocked to Florida, California, Las Vegas, and Arizona. Even if their investments did not earn a return, it surely wouldn’t lose any money and they would still have something that they cou...
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Basketball Legendamp#039s Home Falls into Foreclosure
March 20th, 2011 — Las Vegas Mortgage Rates
Julius Erving, also known as Dr. J in the basketball scene, has disclosed that his $2.23 million house in Utah is under foreclosure. This is another reminder that foreclosure affects not just ordinary citizens, but also high-profile celebrities and sports icons. Mr. Erving joins a list of several US celebrities who have already admitted being among the victims of continuously increasing foreclosure in the country.
Celebrity news organization TMZ claims that Mr. Erving has admitted to the group that his Utah property is ‘substantially underwater’. Underwater mortgages are home loans that have become greater than the current valuation of the property that was used as a security for the mortgage. Many homes across the country have become underwater as home prices continue to fall and loan interest rates continue to remain high.
Mr. Erving’s Utah house is a 6,700-square-foot property situated in St. George. The community is located at the sou...
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What you Need to Know to Avoid Losing your Home
March 19th, 2011 — Las Vegas Mortgage Rates
Considering the myriad challenges homeowners face %26ndash; from paying for rising property taxes to making needed repairs – it’s surprising more of them don’t pull their hair out while engaging in profanity-laced tirades. But there’s one dirty little word that even the least superstitious homeowner is loathe to utter, let alone ponder: foreclosure.
A foreclosure is a legal proceeding by which a lender forces the sale of a property after a debtor has defaulted or failed to make payments. Legally, a foreclosure is a process for a lender to regain control of the property because the buyer has violated terms of a contract.
To initiate a foreclosure, the lender must serve a notice of default on the debtor after a certain time period when payments are past due. The notice will give the borrower a time frame and list an amount necessary to be paid in order to ‘cure’ the default and avoid foreclosure. If the delinquency and ot...
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Auto Stocks Suffering
March 18th, 2011 — Las Vegas Mortgage Rates
Certainly, the generalized answer to the suffering auto stocks dilemma has something to do with a mixture of things, such as decreased auto sales, the price of gasoline, and environmentally-conscious consumers. Yet, upon careful inspection, one has to question why the auto manufacturers choose not to change course to meet these new demands when you have cheaper cars, high mileage, and alternative fuel sources.
According to the senior vice president and senior auto analyst at Lehman Brothers, Nicholas Lobaccaro, the success of the auto industry is suffering due to exterior factors. ‘There is basically a total lack of confidence for all stocks, not just the auto industry. Wall Street is going to continue to nosedive for a long time,’ Mr. Lobaccaro reports to the recent Las Vegas Conference for Automotive Remarketing.
High interest rates on auto loans, high unemployment rates, thousands of home mortgages going into foreclosure, and a consistentl...
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Foreclosures 101 A Perfect Alignment
March 17th, 2011 — Las Vegas Mortgage Rates
Real Estate is a commodity just like anything else in our society and when the prices get too high, just like the stock market it adjusts down to where the majority of buyers believe that there is value. So, when real estate is high, few buyers buy and when real estate is priced below the comparables, more people buy. If you buy and you’re an owner occupant and you plan on staying in your home say 5 to 10 years, then the markets ups and downs don’t concern you so much. However, if you’re a speculator and you buy near the top of the market and the values peak then turn down, you could be holding a commodity that is worth less than what you paid for it. And that doesn’t make a very good short term investment.
So, exit strategies when buying properties are pretty important. Now in our recent market many speculators and home owners, have extended themselves by buying expensive properties with the expectation of continued appreciation, and owner occupants ...
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