Las Vegas Realtor Steve Harless - RE/MAX EXTREME 702.217.1680: June 2008

Anthem Bank Owned Property - Outstanding Opportunity!
Price: $474900 WOW! Bank owned*Gated community*Pool and spa*Openfloor plan*Covered patio*Built in BBQ*Courtyard entry with fountain*Covered patio off of formal dining area*Built in double oven*Alarm*Custom cabinets* Call 702.217.1680 View Full Color Online Flyer From: http://www.classifiedflyerads.com/ad/30874/
Listing Information
Address: 2520 DORNOCH LN HENDERSON, NV 89044 MLS: 828808 Bedrooms: 5 Bathrooms: 4.5 Parking Spaces: 3 Sq Feet: 3612 Lot Size: 9583 Year Build: 2005	Vaulted Ceilings Private Wall In Back Yard Covered Patio Ceramic /Tile I'm Gorgeous Inside Swimming Pool Outside Cassita Built In BBQ
Contact Information
Company: Realty World Luxury Homes Contact Name: Steve Harless Contact Phone: 702-217-1680 Las Vegas Real Estate

In my opinion, The stimulus package proposed by the current administration is proof of the "band aide" for a amputated arm. There will need to be a new rebate check sent out every 5-6 months to get the needed results

Retail sales rose by bigger-than-expected 1 percent in May, bolstered by rebate checks

"Recession? What recession?" asked Joel Naroff, chief economist at Naroff Economic Advisors. "Spending in April and May was solid in just about every category."

Ian Shepherdson, chief U.S. economist at High Frequency Economics, said one possible explanation was that consumers have suddenly returned to their carefree spending ways despite weak consumer confidence readings and the credit crunch.

LOL...what baloney! You can see it in the streets...notice how many people are NOT driving? I see the difference everyday.  GAS prices have stalled the economy. Are you seeing less people on the roads these days?

While things are looking bleak in America for real estate, the foreigners know a good value and are snapping up prime locations as fast as they can. an Italian firm just Snagged the Flatiron In New York.

Today it was announced that the Chrysler building has  purchased a 75 percent stake  for 800 Million!

As expensive as those other properties are, there are more good reasons to jump into the Las Vegas High Rise condos scene at ultra low prices, as an agent I  have seen many great properties on the Vegas strip being purchased recently by european and far east investors. Las Vegas has just about the lowest price for a major High Rise community in America.

Take advantage today, as most investors are still sidelined with fear about the oil situation, and foreclosure market, if you are interested in buying and holding long term in Las Vegas, give Steve Harless a call at 702.217.1680 to discuss your options.

visit: http://www.viewlasvegasrealestate.com/ for more information

 

From time to time there are people who feel the urge to sell their own home, not only here in Las Vegas but just about everywhere. As a realtor, I understand that their real desire and objective is to sell their home quickly and for the most money possible. Maybe their relationship with their first or last agent soured. None the less, FSBO's want to sell their home on their terms....my motto, is SO BE IT! If a FSBO cannot see your service benefits after your presentation, just go on to the next one.

This is a great start....The prices in this new home community just went up!

 1,376 to 2,316 square feet
Prices starting at $153,490
3 models and 6 floor plans
2 story homes
2-5 bedrooms
2.5-3 bathrooms
2-car garage
10-Yr Ltd Warranty

My Committment To You!

Steve Harless works with a team of professionals and directly with many new home builders in Las Vegas to find you the best value.

If you prefer to preview re-sale homes we also have a data base of over 20,000 homes. It's fast and easy to use! On request, we can email your new home preferences with a price range that fits your real estate needs.  

 

 

 By April, 2009, hundreds of thousands of option ARM mortgages will begin resetting, bringing on a fresh wave of foreclosures

 People think the worst is over...yeah I know....doom and gloom....no one wants to hear that bunch of negative crap....the reality is everyone HAS to understand that this is not going away quickly.

Underwater and Gasping for Air

"Most of the public is thinking that the subprime thing is over, but this is another thing waiting," Bhattacharya said. "The problem for these borrowers is that once you go underwater, it's very hard to refinance, and if you cannot refinance there is very little option for you."

 The chart belows show what is scheduled to come

 

 

Blue bars on the chart represent the recast schedule if all the loans were to recast five years after origination date. Gray bars represent the expected schedule of option ARM resets, which show loans recasting sooner after hitting the principal cap.

Lenders slash prices to dump foreclosures, days of multiple offers return

Its Back.........Multiple offers are coming back because of low prices....recently I saw a home in SW Vegas first day on the market get 20 offers!!!!! This sort of activity is happening all over the Las Vegas Valley, and I expect it to get better as time goes on. People will always have to have a place to live.

A bit of Advice for buyers:

(1) Get pre-qualified by a lender before you look for homes, that way you will armed and dangerous to make an offer that will be stronger then an un-prepared buyer who is just looking and has not been pre-approved for a loan. You will get a faster response from the banks, and can possibly do a quicker close on the property.

(2) Don't get emotionally attached to a home - Before you put in an offer,  get the latest comparison market analysis of what homes are selling for in the neighborhood by an experienced realtor. Protect yourself, and your investment by working with a realtor who knows the neighborhood. hope this helps, be well, Steve

 

After talking to several agents that deal strictly in REO/Foreclosure properties, all of the agents agreed that we may soon see 1998 prices again in Las Vegas. Prices will go lower, however, here is the catch -watch the interest rates!

I predict that we may see Jimmy Carter Era interest rates more then 10%. (banks have to recover someway) Interest rates are so low it is amazing there is anything left for sale.

The absorbtion rate for homes is going down slightly, but I look for a glut of homes to come on the market as the Adjustable Rate Mortgages reset in the month of June. The new trend in real estate investing seems to be hunting for low priced short sales, which is trick in itself. Why are people pursuing these Foreclosure/REO's when they get into these "bidding wars." It does'nt make sense. Even the new homebuilders have got the prices right. One new home builder in Las Vegas even guarantees the price will not go down for up to 5 months while in contract or they will adjust the price.

So where does that leave the Housing consumer? When people ask me, "When is a good time to buy a home?" I tell them, in good times or bad, "When you find the home of your dreams at a payment you can afford."

Labels: by Las Vegas Realtor Steve Harless, housing crisis, las vegas nevada foreclosures, las vegas real estate