Las Vegas has a plan to take a National Historic Landmark building, which once was the old courthouse and post office and turn it into a museum that will bring some history and old stories about how the city was run years ago.

The renovation of the historic building in Las Vegas into a museum dedicated to the history of organized crime has begun, it is said to bring in a possible 600,000-800,000 tourists a year.  Not including all the locals that will enjoy this museum It’s to be completed in 2011.

Las Vegas is always blowing up old casinos to make room for new casions and advancement.  This museum will be a part of Vegas that is actually part of the city’s history.  Along with a few other museums we have here..

I feel good about the attraction, I believe it will greatly help our economy.  Also, bringing in new jobs for our housing market.  The more people visit here the more interest there is for many people to own a piece of Las Vegas for a second home.  It’s win, win for everyone.

I’ve noticed that several vacant homes I’ve viewed lately have had angels left behind.  Either in the form of a statue in the bachyard, a waterfall, little staute angels left on kitchen counter tops or pictures, books of angels or angels painted on the wall. 

In my opinion people must be leaving them behind intentionally.  People leave all kinds of things behind.  Some things I’ve seen are furniture, personal family pictures, at least they look like family pictures.  Wedding books, scrap books of babys and toddlers all the way to their teenage years.  Treasure chests full of memories.  Kids and adults clothing.  Closets full of sheets and towels.  Many times I see numberous cleaning supplies and bug/weed sprays. 

After researching angels on the internet and understanding a liitle more, perhaps they are left behind to fight off the demons.

Purchasing a short sale property is the same as buying a re-sale property (owner occupied).That’s why it is important place on your offer the amount of Earnest money you will be applying.  Without an earnest money deposit, your agreement is not a contract. Earnest money is an essential part of a serious contract. What should you be willing to put down for the EMD is up to you.  On a short sale you really don’t want to tie up too much money because the deal might fall through and all that EMD could be tied up for month. On the other hand if you don’t put a serious amount down the seller may not believe you’re too interested. The more you put down just shows you are serious about your decision to purchase.

Short sales are different from other purchases in that there are multiple decision makers involved in accepting an offer. It is normal to take three to four weeks for longer or some lenders to decide on a short sale. And successful short sales happen only happens if the short sale package is been completly fully and submitted properly.
The closing can happen in as little as 7-10 days for a cash buyers. If you need to get a mortgage to complete the purchase, the time frame for closing is more upon you and your lender and how quickly they can process the mortgage application. Depending on your credit score and documentation requirements, that could be between 30 and 55 days to close on the property.

How do these Tags related to the Real Estate world?  Well I did a little internet hunting for top blog words and these were just a few. 

Humor:  My goodness if a REALTOR doesn’t have a sense of Humor or try to take their job lightly then it going to be a tough career for them.

Internet:  As a REALTOR you should if you’re not be on the Internet.  Through your office web site or your own web-site it’s critical that you have some kind of site for your advertising.  And as a REALTOR don’t be intimidated by the Internet.  USE it to your advantage.

Computer:  Please if you don’t know how to work a computer you better have a good assistant that does.

Blog and Blogging:  Just jump in and try it.  It’s fun most of the time.

Business:  How many hours do you work at being a REALTOR?  It should be at LEAST 40 hours.

Funny:  Hopefully, you can laugh at yourself every once in awhile.  You just have to.

Music:  In the car or at the office turn on some fun music to listen to for a little bit, it helps change your mood for the better.

Travel:  We’ll I’ve been so busy I’ve put travel off.  I don’t advise you do that.  Go get away from the Real Estate world for a bit.  You’ll be so refreshed when you come back.   Come out to Las Vegas where I sell, the weather is always nice. 

Explaination of a short sale.

A short sale is a transaction in which the lender, or possilble multiple lenders, agree to accept less than the mortgage amount owed by the current homeowner. Sometimes, the difference is forgiven by the lender, and in others the homeowner must make arrangements with the lender to settle the remainder of the debt. The word “short” mean the short of the loan.  Even though the process can be quite lenghly and it feels like a “long” sale.

Is the number of short sales going up?

Due to our vurrent economic crisis, for instance rising unemployment, and  home prices decreasomg in communities across the United States, the number of short sales is increasing. Since a short sale generally costs the lender less than a foreclosure, it can be a viable way for a lender to minimize its losses.

A short sale can also be the best option for a homeowners who are “underwater” or owe more than their home is worth a  short sale may not hurt their credit history as much as a foreclosure. As a result, homeowners may qualify for another mortgage sooner once they get back on their feet financially.  One of my clients are currently doing the exact thing.

How to choose a Realtor that KNOWS short sales:

Call Penny for more information:  702.321.9383

http://www.PennysProperties.com  or E mail at Penny@pennysProperties.com

Mortgage modifications can include second mortgages, not just your first mortgage and cash incentives are making short sale deals, do to new efforts by the Obama Administration.

The new changes have some homeowners a second chance at a loan modification, especially if they were originally turned down, which most people are turned away from dealing with the banks because the second mortgage cabosh the process.

Sometimes other homeowners may  be able to take the short sale route from unaffordable mortgages that could otherwise would result in a foreclosure.

Eligible homeowners looking to modify their first mortgage must be an occupant/homeowner of the property; have an unpaid principal balance that is no more than $729,750. The loan that was originated on or before January 1, 2009; have a mortgage payment which includes taxes, insurance, and home owners association dues that is more than 31 % of their gross monthly income; and have a mortgage payment that is not affordable, perhaps because of a significant change in income or expenses do to job loss, divorce, death somekind of hardship.

Under the new second mortgage program, in addition to lowering the payment, lenders can also opt to erase a borrower’s second mortgage in exchange for a payment from the government single sum of money that serves as complete payment…

We are starting to see more short sales go through with flying colors. 
I need more lisitngs Call Me at 702.321.9383

So there has been a rise in short sales and the buzz is there are plenty more to come.  The banks are starting to loosen up their belts a little more than before.  Maybe they’ll stop whipping us around and actually start trying to work with the sellers and Listing agents. 

The whole valley is affected by the short sale market.  It’s common throughout the valley. Honestly, no area is barred from the short sale world.  People are trying to short sale before  they get foreclosed on.  Trying to save their credit somewhat. Actually, in a lot of cases it a better property than a foreclosure.  The house hasn’t been abandoned for so long.

• Loyalty to clients and all parties involved in the transaction
• Honesty I live by the “Golden Rule”
• Knowledge of what it takes to close a deal
• Experience in the Las Vegas Real Estate market
• Web site knowledge
• Internet Exposure and how they market your Las Vegas home/investment
• Awareness of parties involved
• Acquaintance with facts
• Familiarity with the changing market
• Principles and facts
• How to handle all kinds of circumstances
• Creativity with marketing and how to handle other agents and other parties involved
• Informative to you and explains the home buying/selling process
• Comprehension of what to expect and be ready to handle the unexcepted

That’s right a few months ago everyone was all about helping out buyers find that perfect home.  Well things have changes drastically and it’s all about the seller.  Buyers are just drulling waiting for homes to go on the market.  We literally have no inventory …yes, of course their are homes or sale but it is very limited.  There is so many more buyers than homes for sales.  I’m not sure of the percentage, but it’s pretty large.

BUyers are getting extremely frustrated, waiting and waiting for a place to go on the market only to find there are 17 or more offers on that same property.  They wonder how many offers on how many different homes will they have to write before their offer is accepted? 

Also, one word of caution to buyers.  Beware of lenders who are taking advance to desperate buyers.  I  have noticed that many listing agents only allow certain lenders to do the loan on their Las Vegas property that they have listed.  Which can be a very large problem for buyers since they are not allowed to shop around and get the best deal.  Just a little heads up to buyers.  beware and ask lots of questions.

Have you heard about the cash for keys?  Depending on what bank we’re talking about there is no rhyme or reason to it.  Banks don’t realize the loss until the foreclosure is done.  So they will wait for 5 more to close then release 3 more homes.  This makes sense the banks are trying to make sure the FDIC doesn’t come in to take their bank.  Banks don’t want to become insulvant.

Depending on which bank you have as a lender perhaps your bank will offer you 1k or 5k. for cash for keys.  Which means you leave the house in broom clean condition and all appliances stay.. There is much more to it but you’d have to check with your bank.