What does reconveyance mean?

Reconveyance or deed of full reconveyance removes the lien that the lender placed against the property when the loan was originated . The reconveyance is recorded at the clark county recorder’s office or in the county in which the property is located.It will have the  information written on the deed of trust so the county can submitt it accordingly, and a title search will show that the lien/note has been paid in full.

 

Deed of Trust:

 

This is a recorded document that secures the note or contract between you and the lender. It involves three different parties that are documented, addressing who the mortgage company or lender is and the parties assuming the loan  and the trustee which in most states is a title company.. (that’s how it works in Las Vegas and Clark County). It will explain the purchase price of the property.  Remember that all of this is public record. 

 

 

You read it right.  I am selling short sales like crazy..  To buyers and sellers.  I’m using a third party  a faciliator to get the transactions completed properly and in a timely matter.  The faciliator is someone who deals directly with the banks.  If there is one loan on the property it will cost $500 up front and $500 at the end.  If there is two loans on the property than it will cost $750 in the beginning and $750 at the end.  It’s a great way to get someone out of a bad situation considering our prices on homes have dropped to below prices that most people are upside down on their loans. 

Generally speaking, if you purchased a home in 05 for $300K that house today is more than likely worth around $135k  that’s what I call upside down. :(   Yet, there is hope.

With the sale of your home being a short sale vs. a foreclosure you will save your credit.  Of course you will take a ding but nothing like a foreclosure. 

I am advising my clients to buy and sell short sales.  There are wonderful homes out there that need rescue long with their owners.  Typically, the homes are in better shape than a foreclosure too.  They haven’t set vacant for months.

Come one come all.  It is the best time ever to buy in Las Vegas.  In some areas of the valley prices are back to where we were 10 years ago… Ok, I know that really hurts all of us that have lived here since the late 90’s but that’s just how it goes right now.  Some areas are priced at one third of what they were valued at 3 years ago.

The opportunity for new people to move here is just fantastic.  I have written over and over again on this subject but unless you have experienced Las Vegas life (off of the strip) you might not know what you’re missing.

You do hear the sometime disgruntled person talking down about Las Vegas but more than likely it was due to their own negative experience that Las Vegas had nothing to do with.  I’ll just call it bad life style choices.  That can happen in any part of the world.

So, back to the lifestyle and desire to live here in Las Vegas, if you have questions or doubts call me and I’ll help you out (702.321.983).  I talk with people all the time about what it’s like to live in Las Vegas, I’m not a professional counselor or any kind of medical  professional I just live here so what I’m saying is it’s just my opinion but it’s interesting.   I have many many friends and family who live here and continue to make new friends on a daily basis.  It’s just normal to question an area when you’re considering moving there. If I can’t answer all your questions I can direct you in the direction of others that maybe able to help you.  Sometimes i hear “well I want to move but my husband/wife isn’t sure” that’s very common.  That’s why you need to call me, get out here and check it out.  If it’s meant to be right for you you will know.

I can help you average what your expenses will be whether you chose to rent/buy or both.  Maybe you’ll like it here so much you’ll want to join the crowd and buy a rental investment too.  You never know..

People have moved here from every part of the world, people from other countries, the midwest, east coast, sw, NW you name it.  That’s part of what makes living in Las Vegas so much fun.  Not only do you have a variety of things to do but the people are just amazing and interesting.

I sell throughout the whole valley, Summerlin, Green Valley, North Las Vegas, the SW, NW. wherever!!! I love it all.

Honestly, my favorite thing about living in Las Vegas is the weather.  I can’t explain it to you the air smeels good, the sunshine makes you feel so alive. YOU just have to experience it for yourself.  Contact me if you’re interested in a visit here and want to see some properties.  http://PennysProperties.com   You can talk to my current and past clients too. 

Your friendly RE/MAX Experience Agent

•  Penny O’Brien
• 4235 S. Fort Apache Rd. #170
• Las Vegas, NV 89147

On a daily basis I have clients and customers calling on me to hear my opinion about the market.  Let’s get one thing straight.  Personally, I am a very optimistic person yet I am a realist.  I call it like I see it.  If you want to know about mortgage rates I’ll give you the number of someone that can assist you with.  If you need information about title companies, insurance companies or most anything that pertains to buying a home or selling a home I can help you. 

The reason I say it’s going to get ugly before it gets better is I am seeing more confusion within the market of Las Vegas than ever before.  Granted I have been an agent for 10 years so I haven’t seen everything that could and would happen with more time,  This is what I know: right now agents are in a uproar with the banks giving certain Realtors all the REO contracts.  Let me explain a little more.  The banks hand out their homes to be sold to a limited amount of Realtors in Las Vegas,  It is almost impossible of agents like myself to get into the REO market right now because the banks have a select few they are dealings with.  I think the main reason for that is because the banks just don’t have the time to try to find experienced Realtors, they are so busy trying to handle everything else they have to deal with.

The issue some agents have about this situation is that these Listing companies have so many Foreclosures/REO’s that they are not doing a good job maintaining them, to put it lightly.  It’s very frustrating as an agent to be out showing properties and there is no key in the lock box or the key doesn’t work. The list of issues is so many but the most irriating issues happen when you are writing an offer.  My experience with working with these REO listing companies is they do not follow through.. For example: I write the contract with my clients and we send if over to the listing company.  First of all I ask is if they received the contract.  That’s the first hurdle.  If you are lucky enough to get an answer back it’s a miracle.  See what I’m talking about?  Then after calling and emailing many times during the week finally someone will give you an answer which is either NO we didn’t recieve it which you know they had to have because I sent it over to their office 4 times) or yes we did but the bank has accepted another offer.  REALLY?  I can’t prove this but I can tell you from experience more than likely they just sent over a contract and didn’t send multiple offers and ours wasn’t recongnized…

There is a lot of in house deals going on too which is a little unethical.  Which is the REO company gets the listing and before the listing goes public someone within the REO listing office lets peopel within their office or others friends know about the place first. I’m not a disgruntled agent I just wish the banks would spread this REO’s out more among agents.  The real estate market in Las Vegas could and would work more smoothly.

All REO interested companies please feel free to contact me. http://www.Pennysproperties.com

a pit stop is where a Real Estate agent stops into the office for refuelling (free coffee and bagels), new ideas on what’ s happening in the market, repairs to your mental state, a few minor adjustments to your sells attitude, a agent handshake exchange, or any combination of the above.

My office pit starts at a row of reserved  parking spaces which runs vertical  to the front of the office. The row consists of  8 parking stalles (reserved just for RE/MAX agents) . the office does not supply enough reserved spaces so not everyone can consider they are part of the pit stop  crew at one time.  At any given time we need at least 15 pit stop stalles. Depending on the circumstances you could be in the pit for some time or just get in and get out.  You may have clients in the car so it’s a quick run in to pick up some needed information.  Sometimes those clients need to go in to make use of their own pit stop time.

At our RE/MAX office you will notice some of the same cars in the pit for a number of minutes to hours on a daily basis. I know our Broker and secretary are always in the pit. Sometimes I’ll park in the pit but if I’m going to be in the with office for a fair amount of time, I will park away from the pit so that others may use it.  Sometimes patrons to the other businesses will use our marked pit stalls to run in to pick up their pizza. (can’t blame them I guess)

For me making pit stops is a necessity, It makes me focus more on my business, you never know who else is going to make a stop and what you might learn from them.  It enlightens my day, helps me keep on schedule, not to mention I really enjoy seeing the agents and office staff in my office.

I made an unexected pit stop the other day to find everyone in the office was decorating our office for the holidays. Pit stops into my office are a very crucial part of my success in Real Estate.

http://elfyourself.jibjab.com/view/XPAQblAA5Goi6aOw

Penny O’Brien Las Vegas Realtor with RE/MAX dancing with fellow agent Wendy Heyworth… Don’t laugh too hard…

http://elfyourself.jibjab.com/view/Vjmr9yZblnISoTBM       Happiest RE/MAX agent with disco

 

Penny O’Brien doing the disco dance with friend and fellow agent Wendy Heyworth.  ENJOY

 

 

I choose Summerlin as my new place to set up camp because of the Master Planned community aspect.  I moved to Las Vegas from the Midwest state of Iowa which was a wonderful place to live while I was there. 

 

Summerlin has the small town kind of feel even though it is very large.  When I moved here 10 years ago it was much smaller than now.. We have the Red Rock casino, many fine restaurants.  Wonderful schools, shops, the list goes on and on.

 

I’ve been a RE/MAX agent for over 5 years previous to working in Real Estate with other smaller offices for 5 years.  I have lived here and sold for some time and have actually earned the “Summerlin Specialist” title. 

 

I do sell throughout the valley actually 5o% percent is Summerlin sales and the other is either in the NW, SW or Henderson, Green Valley areas.  The valley is growing so quickly.  It is very exciting to sell Real Estate here. 

 

It’s very exciting to experience Summerlin