Las Vegas Realtor Steve Harless - RE/MAX EXTREME 702.217.1680

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It is important to have a buyer's representative help you in your new home search. Steve Harless can represent your best interests while negotiating on your behalf. To get started, an in house lender is available to you so that you can obtain the lowest financing possible. 

The Bush administration's seizure of troubled mortgage giants Fannie Mae and Freddie Mac is potentially a $200 billion bet that it will help reverse a prolonged housing and credit crisis.

must read info for every real estate related individual - click here

U.S. Seizes Mortgage Giants

question is: when does the Government Bailouts stop?

Wish I had a chance at a government bailout for my business..... What are your thoughts?

Applied Analysis says the number of existing homes on the market was 22,096 at the end of August.

That's 6,672 or 23 percent less when compared with August 2007. There were 7,339 homes under contract at the end of the month, the highest level in more than a year. However, 4,297 are contingent, which in many cases are short sales waiting for bank approval. Also, 3,042 sales are awaiting closure.

Has the market hit bottom in Las Vegas? Not by far, some local realtors say. However as a consumer you may want to avoid trying to time the market and take advantage of deals on homes that are bank owned by as much as up to 50% off of the market highs in The 05-07 levels.

Call 702-217-1680 to discuss your investment opportunities In Las Vegas.

A report on housing prices by Global Insight says that although prices for single-family homes are still heading downwards across the country, the rate of decline has gone down and "extreme overvaluation of house prices is essentially non-existent."

This is good news...the consumer needs to know that now is the time to start buying. Between a wild stock market, and the presidential election things are going to be ok.

As In earlier blogs I have written, I predicted the oil bubble bursting would happen eventually and could have a great affect on home sales and the economy. I credit this to a possible return to the norm.

oil companies: Oil prices pause after steepest plunge since 1991 - 07/16/08 08:27 AM Positive news for a change: THE OIL BUBBLE IS BURSTING! YEAH!!! maybe the country will get back to normal someday.... Its too bad there is so much greed from the oil companies. Salt water as fuel has already been discovered! It would be the way of the century if there was'nt so much OIL

U.S. Mortgage Foreclosures, Delinquencies Reach Highs

This report is really happening in the US today. yea yea yea....I know what you are thinking, I've heard all this song and dance before you may say but I am still excited because people are buying and looking for deals like never before. Opportunities are still out there. It is all how you want to look at it. It's up to me to deliver what these people are looking for or they are on their way to another realtor.

People all want value these days in real estate...they want the best price, and area they can get for their money. I have a question for my subscribers: Are you giving people what they really want or what you THINK they want?

Call Steve Harless today if you are interested in buying distressed or foreclosure properties today - 702-217-1680.  He WILL Listen to your needs.

I remember the gas rationing in the late 70's...it was horrible then, as the prices are now... but I also remember good times after that....Let's hope history repeats itself. Takeovers are starting to happen again...this one is real interesting Lehman Brothers faces Korean takeover bid

The price of Oil is falling...election is coming up...I sense a change for the housing market in the USA! Remember the seventy's? same optimistic feeling is coming back...play this music below...it will put you in the SAME positive mode I am in....hehe have a great day active rainers

 Las Vegas Relocation

Relocating to Las Vegas can be frustrating and stressful especially if you don't know anyone and have never been here except to vacation. If you are thinking of relocating to our wonderful city, and are looking to purchase a home, please feel free to contact me, Steven Harless at (702) 217-1680 and I will be glad to assist you with your relocation plans.

Just before your scheduled upcoming move to las vegas, click on the links below to get a head start on organizing your move and for helpful tips to relocate your family Las Vegas.  

Las Vegas High Rise Condos
Las Vegas Homes For Sale
Las Vegas Property Search                                                                                                           Las Vegas Crime Mapping Information                                                                                      National Alert Registry                                
City Of Las Vegas - Relocate Your Family
Department of Motor Vehicles
Nevada Power Company
Southwest Gas Company
Sprint Telephone
Cox Communications
Las Vegas Review-Journal

This Article is from the review journal in Las Vegas -

Local home sales on comeback trail

By HUBBLE SMITH

Housing in Southern Nevada

Home sales are making a comeback in Las Vegas and inventory has been reduced to about an eight-month supply, but prices continue their free fall from a year ago, a strong signal that the housing market has yet to enter recovery.

Las Vegas-based SalesTraq reported 3,173 existing home closings in July, a 56.5 percent increase from the same month a year ago and the highest monthly total since September 2006.

However, 61 percent of those sales were bank-owned homes with a median price of $193,000, dragging the overall median existing home price down 23.9 percent from a year ago to $210,000.

New home sales slumped to just 731 in July, down 57.5 percent from July 2007. For the year, new home sales have fallen 47.9 percent to 6,248 units. Median prices fell 20.4 percent to $262,185.

"It's getting depressing out there," SalesTraq President Larry Murphy said. "I've got people coming to me for a job, or asking if I know of any jobs. I've got people sending me résumés every week."

The number of foreclosures edged up to 2,281 in July, up 8.4 percent from June, according to SalesTraq.

California-based Foreclosures.com reported that preforeclosure filings hit a record in July both nationally and in 14 states. Nevada leads the nation with 59.1 filings per 1,000 households in July, a 126 percent increase from a year ago. Arizona was next with 54.9 filings per 1,000 households, followed by Florida (48.3) and California (25.2).

Perhaps overlooked in all of the reports is that foreclosure sales in Las Vegas were about 85 percent of the number of new foreclosures, indicating that the market is nearing equilibrium between foreclosure absorption and foreclosure creation.

That's one benchmark for recovery, Murphy said.

"When we get to the point where the banks are selling more than they acquire, then and only then will we be in a recovery mode," he said.

Bob Wells, chief financial and operating officer of Las Vegas-based Phillips Homes, said the good news for home builders is that the trends show sales flattening out after a long decline and fewer new home building permits.

SalesTraq counted 668 new home permits in July, bringing the year year-to-date total to 3,731, a 55.2 percent decrease from last year.

Before long, demand will shift back to new homes, Wells said. He expects weakness for the rest of the year with a pickup starting again in February.

"If someone had told me at Christmastime that the resale market would come roaring back, I wouldn't have believed them," he said.

"The facts are there, but I don't see people talking about them yet," he added. "Admittedly, prices have languished and it has made it possible for renters to buy."

Wells said he knows of several renters who bought bank repossessions or starter homes in recent months because they felt rents will go up and they can lock in a 30-year house payment that's not much more than their rent payments.

SalesTraq's Murphy said he would be surprised to see the "blended" price of foreclosures and regular sales dip below $200,000 by the end of the year before it starts back up. He won't declare the market in recovery until prices stop declining