Las Vegas Realtor Steve Harless Realty World Luxury Homes 702.217.1680

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U.S. Foreclosures Double as House Prices Decline

Not a pretty picture painted by the media...home ownership is escaping the  & middle class families in alarming rates....down payment assistance programs being done away by our congressman & senators.

The Las Vegas area, where home prices fell -37.6 percent June 2007-June 2008. Las Vegas had the third-highest foreclosure rate, with one in every 35 households, RealtyTrac said. YIKES!!!

Next real question: What will happen after down payment assistance programs are done away by the government??? 

One in every 171 households was foreclosed on, received a default notice or was warned of a pending auction. That was an increase of 121 percent from a year earlier and 14 percent from the first quarter, RealtyTrac Inc. said today in a statement. Almost 740,000 properties were in some stage of foreclosure, the most since the Irvine, California-based data company began reporting in January 2005.

Can I just put out the BATLIGHT on top of Caesar's Palace in Las Vegas and hope that Christian Bale will appear and put a complete end to all of this? What are your thoughts?

6 comments • Steve Harless "Your Las Vegas Real Estate Connection" • July 25 2008 09:11AM

Ban expected on Nehemiah down-payment program

A signature Sacramento program that has helped almost 300,000 lower-income people nationally buy homes in the past decade - while stirring controversy for years - is likely to be shut down this week, Nehemiah Corp. of America officials acknowledged Monday.

Nehemiah is very solid in terms of everything else, and we have prepared for this day over the past two years," he said.

The firm has steadily remade itself into an urban developer, with an eye on building nearly 3,000 residential units just north of downtown Sacramento. Recently, it received $19 million in state housing bond funds for its 65-acre development, called Township 9.

10 comments • Steve Harless "Your Las Vegas Real Estate Connection" • July 24 2008 05:43PM

How To Get Home Buyers Pre-Qualified Online

 

Today, I came up with a form on my website to prepare people to start the home buying process and  get Home Buyers Qualified Online before looking for homes. Here it is below:

Describe What Type Of Home You Are Looking For

Please describe your objectives.
Are you purchasing, refinancing, leasing, renting?
What type of property are you interested in?

Due to the high volume of business, we request that all Home
Buyers get pre-qualified for a loan with our preferred lender or a
lender of their choice before going out to look for property(s). This
will expedite the home buying process and allow us to negotiate 
a stronger position on your behalf. Call us at the number below to get started.

Tracy Dawahare

web: 702-461-6621

Office: 702-650-7641

Email

 

Indymac Bank 
 
  		 

 


Thank You,

Steve Harless
Realty World Luxury Homes                                                                                                 http://www.viewlasvegasrealestate.com/
702.217.1680

Do you Active Rainer's this is too aggressive? Your comments are welcome.

purb724a2ff688424b8.gif picture by artmaniac

15 comments • Steve Harless "Your Las Vegas Real Estate Connection" • April 17 2008 11:32PM

Buying bank owned properties

Buying bank owned properties
There is a lot of interest in buying bank owned properties these days. A lot of information, some good and some bad, is floating around about the subject.   Often the information offered is for sale, with the promise that you can make a lot of money with little effort once you know "the secret formula".  The fact is that there are no secrets, and to make money does require effort.

What's an REO?left
REO stands for "Real Estate Owned".  These are properties that have gone through foreclosure and are now owned by the bank or mortgage company.  This is not the same as a property up for foreclosure auction.  When buying a property during a foreclosure sale, you must pay at least the loan balance plus any interest and other fees accumulated during the foreclosure process.  You must also be prepared to pay with cash in hand.  And on top of all that, you'll receive the property 100% "as is".  That could include existing liens and even current occupants that need to be evicted.  A REO, by contrast, is a much "cleaner" and attractive transaction.  The REO property did not find a buyer during foreclosure auction.  The bank now owns it.  The bank will see to the removal of tax liens, evict occupants if needed and generally prepare for the issuance of a title insurance policy to the buyer at closing.  Do be aware that REO's may be exempt from normal disclosure requirements.  In California, for example, banks are exempt from giving a Transfer Disclosure Statement, a document that normally requires sellers to tell you about any defects they are aware of.

rightIs it a bargain?
It's commonly assumed that any REO must be a bargain and an opportunity for easy money.  This simply isn't true.  You have to be very careful about buying a REO if your intent is to make money off of it.  While it's true that the bank is typically anxious to sell it quickly, they are also strongly motivated to get as much as they can for it.  When considering the value of a REO, you need to look closely at comparable sales in the neighborhood and be sure to take into account the time and cost of any repairs or remodeling needed to prepare the house for resale.  The bargains with money making potential exist, and many people do very well buying foreclosures.  But there are also many REO's that are not good buys and not likely to turn a profit. 

Ready to make an offer?left
Most banks have a REO department that you'll work with in buying a REO property from them.  Typically the REO department will use a listing agent to get their REO properties listed on the local MLS.  Before making your offer, you'll want to contact either the listing agent or REO department at the bank and find out as much as you can about what they know about the condition of the property and what their process is for receiving offers.  Since banks almost always sell REO properties "as is", you'll want to be sure and include an inspection contingency in your offer that gives you time to check for hidden damage and terminate the offer if you find it.  As with making any offer on real estate, you'll make your offer more attractive if you can include documentation of your ability to pay, such as a pre-approval letter from a lender.  After you've made your offer, you can expect the bank to make a counter offer.  Then it will be up to you to decide whether to accept their counter, or offer a counter to the counter offer.  Realize, you'll be dealing with a process that probably involves multiple people at the bank, and they don't work evenings or weekends.  It's not unusual for the process of offers and counter offers to take days or even weeks.

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Looking To Buy Foreclosures?

Please allow me to introduce myself. My name is Steve Harless and
I am with the Sullivan Group at Realty World Luxury Homes. I am
interested in following up on your inquiry on our website. Whether
you are just in the preliminary stages of gathering information on
foreclosures or you are ready to preview properties I can help.
Contact Steve Harless at 702-217-1680 or email me at
steveharless@hotmail.com

3 comments • Steve Harless "Your Las Vegas Real Estate Connection" • December 05 2007 12:10AM

FSBO's

For Sale By Owners

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.

For whatever reason, most FSBO's (for sale by owners) seem to think that they simply can just stick a for sale sign in the ground and that will get the property sold. In reality, don't you wish it were that easy?

Without any real actual marketing, no one can just find your home for other buyers to even look at, never-the-less try to purchase. The reality is you get what you pay for in life. Don't get me wrong. I myself, after listing a home for 6% for my client, do not mind offering a rebate on the client's next purchase of a new home.

The commission that FSBO's reluctantly  don't want to pay at closing is well earned by the listing and selling agents and goes to advertising with flyers, banners, newspaper ads and a lot more.... That is why hiring an aggressive realtor like Steve Harless is of the highest importance.  YOU GET WHAT YOU PAID FOR, AND YOU GET THE JOB DONE RIGHT !

Click below: to see Steve Harless's marketing plan: http://www.viewlasvegasrealestate.com/LookingtoSell

This page was built to assist people that have exhausted all avenues of selling their home with out a realtor's service.  You may ask yourself, WHY WOULD THIS AGENT ALLOW FSBO'S TO USE HIS WEB PAGE FOR FREE? 

Well, here is the answer:

By allowing me to have the opportunity to provide information to give to prospective buyers, I can introduce a property to a buyer that is not listed on the MLS and earn a commission. It's a win-win situation for everyone involved.

 http://www.viewlasvegasrealestate.com/ has the highest of standards for real estate in Las Vegas. If you have a home that you would like to submit to this site, feel free to email  me at steveharless@hotmail.com or call Steve Harless at 702-217-1680 to schedule and appointment to talk about marketing your home for sale.

Find Land and Homes For Sale By Owner in the USA Real Estate FSBO Classifieds.

2 comments • Steve Harless "Your Las Vegas Real Estate Connection" • December 04 2007 11:01PM

First Time Home Buyers!

Now is the time to take special advantage of the new home or resale market in Las Vegas. There are first time homebuyer loan programs that I can put you in  access to that can move you in for as low as $500.00 & assist you with the down payment of up to $10,000!!!

You can literally save $50,000 to $100,000 dollars on new & resale homes by using my services.                          Call 702-217-1680 to get started TODAY!!!

Please allow me to introduce myself. My name is Steve Harless and I am with the Sullivan Group at Realty World Luxury Homes.  Whether you are just in the preliminary stages of gathering information or you are ready to preview properties I can help.

 

I work with a team of professionals and we work directly with the builders to find you the best value.

 

If you prefer to preview re-sale homes we also have a database of over 20,000 homes and from that we can email to you your specific preferences.

 

Our services are FREE to you as a buyer. It is important to have a buyer's representative help you in your new home search. We represent your best interests and help you negotiate the best deal.

 

We also have an in house lender that can provide the best financing available to you. So whether you are looking to move in for $0 down or need creative financing we will help you dilgently achieve your goals.

 

I would like to get a better ideal of your favorite part of town and the type of home you are looking for so I can get started with your customized home search. Is there a good time for me to contact you? Just Tell Us the Location, # of Bedrooms, and Price range and your perferred Time Frame to buy-- and we'll send you pictures FREE!

You can also call me direct on my cellular at 702-217-1680. I look forward to helping you. Thank you for your inquiry.

 

 

 

Sincerely,

 

Steve Harless
Client Care Consultant
Realty World Luxury Homes
6131 S. Rainbow Blvd. Las Vegas, Nevada 89118
mobile:702-217-1680
fax: 702-804-6374
e-mail: steveharless@hotmail.com
website: viewlasvegasrealestate.com

0 comments • Steve Harless "Your Las Vegas Real Estate Connection" • December 01 2007 02:05PM