Archives

Las Vegas, NV - April 11, 2011 - (RealEstateRama) -- Question: There are many short sale properties on the market in Nevada. Is it legal for a buyer to place multiple offers on multiple homes?

Las Vegas, NV - April 4, 2011 - (RealEstateRama) -- Local Realtors and Short Sale Experts, Bill and Francoise Myers receive Top Honors at the International Century 21 Convention. This years International Century 21 Convention was held at the Bellagio Resort and Casino in Las Vegas, Nevada.

Washington, D.C. - March 21, 2011 - (RealEstateRama) -- Seeking to increase investment in America's small businesses, Congresswoman Shelley Berkley (NV) and Congressman Devin Nunes (CA) have introduced H.R. 1147, The Community Recovery and Enhancement (CRE) Act. The bipartisan legislation provides a market-based incentive for private investments in distressed commercial property at a time when many owners and businesses are still struggling in the on-going economic downturn and are in need of new sources of capital.

Las Vegas, NV - March 1, 2011 - (RealEstateRama) -- Toni Braxon’s Las Vegas home recently sold as a foreclosure, according to Clark County Records. Toni Braxton, a six-time Grammy winner and her husband Keirston Lewis purchased their Las Vegas home in Henderson, Nevada, for $2.6 million three years ago. Their home was recently foreclosed upon and sold as a bank owned property on September 17, 2010 for $1,060,000.

LAS VEGAS, NV - February 18, 2011 - (RealEstateRama) -- A local attorney and a mortgage loan officer have been charged with conspiracy to commit bank, mail and wire fraud for allegedly participating in a scheme to obtain mortgage loans from financial institutions using straw buyers and false loan applications, announced Daniel G. Bogden, United States Attorney for the District of Nevada.

Las Vegas, NV - February 14, 2011 - (RealEstateRama) -- Las Vegas, Nevada – Last week, Century 21 President and CEO, Rick Davidson announced that The Myers Team with Century 21 MoneyWorld has won the prestigious Centurion Award for 2010.

Las Vegas, NV - February 10, 2011 - (RealEstateRama) -- The number of Nevada homeowners who owe more on their mortgages than their homes are worth took a huge leap in the fourth quarter of 2010. Nevada currently leads the nation in percentage of mortgages underwater, with a full 67 percent of Nevada homeowners upside down in their mortgages. Nationally, one in four US homeowners with a mortgage are underwater, up from 23 percent in the previous quarter, according to a new report from Zillow. Foreclosure moratoriums and falling home prices are to blame

Las Vegas, NV - February 4, 2011 - (RealEstateRama) -- Many Nevada homeowners have tried loan modification; however, loan modifications just don’t work. Remember that until you have equity in your house, all you are doing is renting. That's correct! You are renting from the bank! There is no reason to pay off $300,000 in debt when the home you bought is now worth $150,000 or less. Most experts predict that it will take 10-20 years or more for the Las Vegas housing market to rebound. It makes rational sense to walk away and get a fresh start. Surrendering a home worth half of what you owe is not a failure, it's a business decision.

Las Vegas, NV - February 2, 2011 - (RealEstateRama) -- We have all heard the same story over and over. It’s the story about a family who gets behind on their mortgage payment, and applies for a loan modification to try and save their home. After waiting many months, the loan modification is denied, and the bank recommends that the homeowner do a short sale.

Las Vegas, NV - January 28, 2011 - (RealEstateRama) -- Who says that history doesn’t repeat itself? In September 1929, the Secretary of the Treasury, Andrew W. Mellon made the following announcement, “There is no cause to worry. The high tide of prosperity will continue.” One month later, Wall Street experienced the most devastating stock market crash in the history of the United States. The crash signaled the beginning of the 12 year Great Depression that affected all Western industrialized countries.

Las Vegas, NV - January 20, 2011 - (RealEstateRama) -- Most homeowners in Las Vegas are so far “upside down” on their homes (owing significantly more than their home is worth) that they don't qualify for the government's $75 billion Home Affordable Mortgage Plan

January 18, 2011 - (RealEstateRama) -- Yep - I said those words. No - Wait - I "EXCLAIMED" (which is a nice way to say I screamed it at the top of my lungs) those words. I remember it like it was yesterday. It was late 2007, we were just coming off our first year in real estate which included about $200,000 in personal commissions, An average commission check of $10,000, awards such as Rookies of the year and Top Agents in the Company, 7% listing contracts with sellers who had equity and wanted to sell, buyers with lender approval letters in hand that really meant something, and a complete blind eye as to how this would soon all shift to an entirely different business.

Las Vegas, NV - January 18, 2011 - (RealEstateRama) -- According to the Associated Press, the bleakest year in the foreclosure crisis has only just begun. Lenders are poised to take back more homes this year than any other since the U.S. housing meltdown began in 2006.

Las Vegas, NV - January 11, 2011 - (RealEstateRama) -- A recent report released by IMS Advanced Realty Data Services on January 10, 2011 named The Myers Team the #1 Short Sale Real Estate Team in Nevada. Number one status was determined by actual short sale listings closed in 2010.

Las Vegas, NV - January 10, 2011 - (RealEstateRama) -- Nevada Real Estate Agents will soon notice major changes to the short sale approval letter issued by Bank of America. Bank of America has changed the verbiage of their standard short sale approval letter, deleting verbiage referring to the bank’s right to pursue a defiency judgement against a homeowner.