October 22, 2010 Posted In Economic News Las Vegas Foreclosures Market Conditions
This week the Bank of America announced their self imposed 23 state foreclosure freeze will be lifted Monday October 25th.
Earlier this month after JP Morgan Chase Bank and Ally Financial Inc. put a halt to evictions of property owners in default on their mortgages after rumors surfaced in several states that alleged that bank officers/employees were signing documents that may have contained errors. Bank of America soon followed suit and halted all property seizures as well.
In a statement release by Bank of America this past Monday, "Our initial assessment findings show the basis for our foreclosure decisions is accurate."
"Although the Moratorium was short lived, it did have an impact on the Las Vegas housing market as it made potential buyers uneasy about home purchases and Title Companies a bit skittish about writing Title Insurance." according to Las Vegas Realtor Laura Arcuri of the Realty One Group.
Ms Arcuri went on to state "Although Nevada was not listed as one of the 23 states the effect of temporarily putting the brakes on any foreclosures will send ripples throughout the already devastated real estate industry and will delay a full recovery.”
What this Las Vegas Real Estate Veteran is referring to is the fact that in order for the market to stabilize foreclosures are a necessary evil. Home owners simply cannot remain in homes that they cannot or will not pay their mortgages.
"It was the Housing Sector driven by out of control politically initiated Sub-Prime and "Liar" loans that caused our current recession. The economy simply cannot recover until the real estate industry does. It is time to finish the healing process." according to Ms Laura Arcuri.
September 19, 2009 Posted In Economic News Market Conditions Politics Real Estate News
Las Vegas Commercial Real Estate Bubble
You would have to be blind not to notice all of the Commercial Real Estate vacancies here in Las Vegas. Driving through town with every turn and on almost every block we see vacancies for offices, retail and specialty stores.
What amazes me is [...] Continue Reading…
August 14, 2009 Posted In Economic News Homes Update Las Vegas Foreclosures Market Conditions
Investors in Las Vegas Property Investments
For anyone looking to invest in Las Vegas now is certainly the time. Many investors from all over the nation and Canada are honing in on the “steals’ in real estate in the southern Nevada area. All around Las Vegas and many of the [...] Continue Reading…
August 13, 2009 Posted In Economic News Market Conditions Real Estate News
Canadians Are Investing Heavily in Las Vegas Property
Today, more and more Canadians are investing in Las Vegas property whether for a second home or for investment property. At one time, Canadians looked for homes and investment property in the state of Arizona; however, with prices of homes drastically lower [...] Continue Reading…
August 12, 2009 Posted In General Sellers
The Importance of Curb Appeal
Many people may not realize the importance of curb appeal, but with so many houses on the market, it is more important than ever. As your Realtor pulls up with the potential buyer, they make their first impression within 30 seconds, just [...] Continue Reading…
August 7, 2009 Posted In Homes Update Las Vegas Foreclosures Market Conditions Real Estate News
Reasons Home Sales are up in Las Vegas
Many believe that home sales went up in June in Las Vegas due to the overwhelming number of Southern California investors that returned to the area to find deals on single-family homes. The number of investors seen in the Las Vegas area [...] Continue Reading…
July 31, 2009 Posted In Homes Update New Construction Real Estate News
Tuscan Cliffs Southern Highlands Las Vegas
Tuscan Cliffs Southern Highlands homes in Las Vegas is offering a wide variety of model Las Vegas homes for sale at affordable prices. Talking with a real estate Agent in Las Vegas will give you the opportunity to take a tour of this marvelous [...] Continue Reading…
July 23, 2009 Posted In Economic News Market Conditions Politics
Last night I listened intently to President Barack Obama on healthcare reform. For 55 minutes I heard only more bloviating and extended long drawn out answers that answered nothing. There were still no real details, solid costs or a plan on how to finance this proposed [...] Continue Reading…
July 15, 2009 Posted In Economic News General Market Conditions Real Estate News
Residential real estate sales hits all time record in June.
Record sales of single single-family Las Vegas homes, condominiums, and town homes were announced in June in Las Vegas. The record set back in June of 2004 was at 4,414, but now in 2009, the Greater Las Vegas Association of [...] Continue Reading…
July 13, 2009 Posted In Economic News General Las Vegas Info
iJango Network
The anxiously awaited launch of iJango takes place here in Las Vegas, Nevada on August 1, 2009 at the recently opened Encore Hotel. This revolutionary business allows the general public to capitalize on Internet traffic.
iJango Launches in Las Vegas
At the official launch of iJango in Las Vegas, the [...] Continue Reading…
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