A long with depression and sadness people are experiencing in the Las Vegas housing market a fear of panic if I may say.  I’m not a cilnical Dr. but I see what is happening behind closed doors for many Vegan’s. 

People whom I’ve know for a number of years who very rarely drank alcohol are starting to drink.  Home owners men and women are seeking anti-depressants because they can not deal with what is happening here.  People are scared of losing their jobs. People are losing their jobs, People are losing their homes to short sale, foreclosure, bankruptcy, or by being kicked out of a home that they were renting and now has gone to auction or foreclosed on.  Domestic violence is up too.

It’s a shame that we are in this boat that is sinking.  I take listings on a daily basis.And I will tell you that the heart ache, shame, embarrassment, and anger is very sad.  So many times I leave the listing and just think to myself how can this be happening to so many people?  I heard the other day that 8 out of 10 home owners will be removed from their residence due to this housing crisis.

We all need to support each other more than ever and understand that you are not alone in this situation.  It is a unavoidable situation for many people to be in but it can and will get better. 

Remember your home is just four walls and stuff to hold it in place.  You can make your home anywhere you want and move forward with life.

WOW, ARE SHORT SALE A HOT COMMODITY IN LAS VEGAS RIGHT NOW.  OUR OFFICE IS RECEIVING CALLS A DAY ASKING FOR US TO PLEASE LIST THEIR HOMES FOR THEM AND TRY TO HELP THEM SELL BEFORE THEY GET FORECLOSED ON.  OF COURSE THERE IS NO GUARANTEE WHEN IT COMES TO SELLS BUT WE SURE TRY OUR HARDEST TO GET THEIR PROPERITES SOLD.

BANKS ARE BECOMING A LITTLE MORE WILLING TO DO SHORT SALES BECAUSE THEY ARE FINDING OUT THAT IT’S THE TREND TO SELL THE PROPERTY BEFORE IT BECOMES VACANT AND DESTRESSED ANY MORE THAN IT ALREADY IS. 

FOR MORE INFORMATION ABOUT SHORT SALES CALL ME, PENNY AT 702.321.9383 OR E-MAIL PENNY@PENNYSPROPERTIES.COM OR VISIT ME AT WWW.PENNYSPROPERTIES.COM

During the late part of 2008 the Division published its first textbook on Nevada real estate law.  Called the Nevada Las and Reference Guide.  It’s an educational resource for education providers and it may be used and should be used by licensees on special topics that may occur.  It is available online for the use in continuing ed courses and a reference source.

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Nye county Nevada per MLS as of right this very moment. There are five homes for sale in NYE county search in MLS. 

I hope this is of interest to someone out there looking for such properties.

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Above is the link that shows all the properties for sale in Pahrump.  Currently per MLS there are 477 in ER, EA status.  That means they are not in some kind of contract that is is either pending or contingent. 

My listing in Pahrump has driven a lot of interest to my web site and many calls inquiring about the property.  I have recieved calls from all over the United States. 

This property is a wonderul home that sits on 1.5 acreas and has an inground pool, ranch style home with Mountain views.

I hope the MLS list I have in the blog is of assistance to anyone who is looking to buy in Pahrump. 

If you’re currently not working with a REALTOR and would like to contact me feel free to call anytime.  My cell phone number is 702.321.9383 or e amil me at Penny@pennysProperties.com

Are you interested in buying a short sale?

YOU have to be very patient. When you come to agreement with the seller to buy a short-sale property, the seller’s lender (or lenders, if there is more than one loan/mortgage) needs to be approve the sale before you can close. If there is only one loan/mortgage, short-sale professionals say lender approval can standardly take about two months. When there is more than one loan/mortgage with different lenders, it can take four months or longer for the lenders to approve the sale.  The second lender is usually the one who eats a bunch of the loss.  Second banks have more risk and more loss.

Important things to consider about buying a short sale:

1. Your financing is in tack and up to date. Lenders love cash offers which is true with all sales in this market. even if you can’t pay all cash for a short-sale property,  You have to be preapproved, perferably have a  large down payment, and can close at any time, You have a high chance of having your offer accepted
2. Please don’t have any contingencies. If you’re serious about purchasing a short-sale property, You can’t think that you can put demands on the bank for closing time, they don’t like having any contingencies. You don’t want to have any other properties to sell before you purchase the short sale.
3. it’s important for you to have expert assistance. Here are some people experts suggest you work with.:
4. Hire an Experienced real estate attorney. The stats are two in five short-sales close.  A Real Estate attorney who is knowledgeable about the short-sale process will largely broaded your chances on a success short- sale approved contract. If you want any things changed in the purchase contract the attorney can help assist in that too.
5. A qualified real estate professional. You may have a close friend or relative in real estate or want to call Penny at RE/MAX Experience. I have Experience with short sales and would love to see if I can assist you in buying or seliing a short-sale.
6. Title officer. It’s a good idea to have a title officer do an initial title search on a short-sale property to see all the liens attached to the property. tax lien, mechanic’s lien, homeowners association lien, etc.), it’s much tougher to get.
7. No repairs or any kind of repair credits. You will probably be asked to take the property “as is.” Lenders/banks are already taking a loss on the property and may not agree to requests for repair credits. And the homeowners have to money to make any repairs.  That is why they are selling their home, it just makes no sense for them to put any more money into it.

The risks of a short sale are quite large. Possiblities are if  you have the time, patience, this short-sale could end up being a wonderful home for you and sometimes patience is a vertue.

Gemini
May 21 - June 21 symphony_no_3 

Gemini is the third Sign of the Zodiac world, and those born under this Sign will be quick to tell you all about it. That’s because we love to talk! Yes, I do.  But I am also a very good listener. It’s not just idle chatter with Geminis….The driving force behind a Gemini’s conversation is my mind. The Gemini born are intellectually inclined, forever probing people and places in search of information, I have always cherished the opinion of older friends and family, of course all ages are valuable to me. The more information a Gemini collects, the better. Sharing that information later on with those I love is also a lot of fun, for Geminis are supremely interested in developing their relationships. Being around with Geminis IS always enjoyable, since Geminis are bright, quick-witted and the proverbial life of the party, which is very true about me.  I can make the party happen. Even though their intellectual minds can rationalize forever and a day, Geminis also have a surplus of imagination waiting to be tapped. Sometimes my imagination is stagnet and needs to be charged up. Can a Gemini be boring? Never! Ever!  I love being a GEMINI

They can be wishy-washy, too, changing their mood on a simple whim, changing my mood at anytime.  I thought that was related to being a women not a Gemini, lol. I can tackle pretty much everything that comes my way. I am always curious.  Even if it doesn’t matter to me what the answer is I just want to know.  The curiousity got the cat thoughts.  The downside of such a curious mind, however, can be a lack of follow-through, what?  when it comes to Real Estate, I’ve only been guilty of not following through once in 10 years, not too bad. How much can any one girl do?

Prices in Summerlin have dropped, dropped and dropped.  It is a master planned community that is a strong selling area of the Las VegasValley but it’s been touched by the foreclosure and short sale housing market big time.  At the peak of buying in 2005 and 2006 when investors were flocking in from all over the world buying up Summerlin prices on properties just went haywire.  The common buyer could barely get a home.  Investors would come in and buy the whole street.  So now when you go into some of the newer parts of Summerlin and see that 8 out of 10 homes on a street are for sale you understand why. 

Sense Summerlin is a master planned community it has stuck with their plans as far as where homes will be placed, where casinos will go and business will start up.  There has only been a few things that were planned that didn’t follow through.  So all in all the master planned idea is working great.

We have seen a STOP in building of the new Summerlin mall that was going in at Summerlin Centre and a new gym that has also started building and just Stopped.  It’s kind of strange to drive by these places and just see a shell of what was started.  I’m not sure when they are going to start up again.  It’s just a sign of the economy.  But by in large Summerlin is a great place to buy and live.

Here is a complete list of properties for rent priced at $1250 a month and less.

This information is gathered from the MLS and includes condos, townhomes and single family residences.

Some properties allow pets, some do not.

Some properties have garages, some do not.

Some allow smokers, some do not.

If you’re interested in finding a rental give me a call.  Penny O’Brien at 702.321.9383 with RE/MAX Experience. http://www.PennysProperties.com

Click on link below to view properties for rent.

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So many Pros to being a RE/MAX agent in Las Vegas,   Here you go and why you should either move to our office if you’re an agent unhappy with their company or if you’re a buyer and seller looking for a great office to work with.  The agents in our office are professional and seasoned agents.  We have some of the best agents in the valley working in this office.  Lots of top producers.

• Beautiful office
• Great owner and broker they are always there for their agents
• Fees are reasonable, call and find out more
• On top of technology
• Fabulous location, close to the strip and centrally located
• Experienced agents who support each other
• FUN place to work, lots of fun and happiness
• Close to Summerlin, Green Valley, Henderson and North Las Vegas
• Wonderful positive environment

contact Penny O’Brien for a tour of the office or call if you have RE questions… 702.321.938