I as a Realtor have had a very emotional couple of years dealing with what you walk into when you turn the key of a property that is in foreclosure.  Sometimes you pull up to the home and can tell immediatly that it’s going to be a diaster inside.  Most foreclosured home have dead grass, bushes and trees out front.  They also just commonly show distress of not maintance of any type for months.

Going inside can be just as distressed.  Some homes have been left in a descent condition but most of them have been distroyed by the either previous owners or renters.  Holes have been punched in doors and walls.  Kitchens have been totally removed, cabinets, counters, sink and appliances. I’ve been homes were people took 3 different kinds of ice cream syrups and drawn all over the walls.  People have poured bleach on the carpets. People have allowed their pets to take over the house and pee and poop anywhere.  I’ve seen graffiti on bedroom walls and in garages. I’ve seen homes left like they just packed their clothes and left everything else behind.  It’s so hard to handle seeing such distruction.

So what my question is how do the people that are buying these homes really feel?  Families have been living in these homes for years.  There might be hand prints left behind that was layed in a concrete slab.  Wind chimes left behind. Kids toys inside and outside. It’s go to be hard on the new owners too.  Consider how the neighbors might feel, they are probably upset their neighbors got foreclosed on and more upset that the new buyer just bought a home at maybe a third of what everyone else paid in the communtiy. It’s not to blame the buyer for the market prices in Las Vegas, it’s just really hard for all people involved sometimes.

It’s heart breaking out there in the buyers market of Las Vegas, The inventory is very low, most listing agents are selling them to agents witin their office or to their buddies. 

I realize President Obama is trying to introduce all these programs to the Real Estate world in order to help buyers.  We have the 8k tax credit, mitigation between buyer and seller.(that’s a joke).  Banks have the say so and they usually say no.  As hard it sounds it’s true.  Banks and thrid party investors have the American public by the balls.  If you don’t believe me ask a friend or nieghbor they will tell you their hell story of trying to save their home.  How they tried and tried for months to stay in their home with no positive results.

So, the question is where are all the homes for sales.  The banks are telling home owners no to their request of working out a deal to stay in their home.  The bank takes the home and then what?  Usually it takes a banks a few months to get everything in order to market the home. 

Las Vegas has no standing inventory with new homes or much of an inventory related to re-sales.  This market is so confusing to everyone involved.  Even the big REO Realtors are hurting.  I see they are actually advertising for short sale business.

SOLD in Las Vegas

Las Vegas Home sold in just 37 days.  NOT a foreclosure or a short sale.  NOPE this was just a regular home in Summerlin Las Vegas that was properly marketed, priced and sold. 

It was a home of owners pride and was located on a cul-de-sac.  Clean as clean could be.  The previous  owners my sellers are now on to a new life for themselves.  And they thanked me in a most modest way of the genuine hug and caring. 

Remember everyone, you too can sell your home.  I realize there is a lot of competition out there as far as foreclosures and short sales.  So if you’re interested in selling or buying give me a call.  Penny O’Brien at 702.321.9383. www.Pennysproperties.com or email me at Penny@pennysproperties.com   Enjoy your day.

Stone ridge condo

There you go, come and get it. 

• 2 bedromms/2 full baths
• balcony off master suite
• upgraded flooring
• all appliances stay (washer and dryer only one year new)
• large kitchen with bar area
• kitchen also has separate eating area
• One car garage (NICE)
• near shopping
• walking trails nearby
• so much more

NOT a foreclosure

Call Penny O’Brien with RE/MAX Experience

702.321.9383

 MLS # 955427

YES, DO YOU REMEMBER THE DAYS WHEN ACTUAL PEOPLE COULD SELL THEIR HOMES? IT WAS AWHILE BACK BUT IT STILL IN OUR MINDS. NO REO OR SHORT SALE, NO FORECLOSURE PROCEEDINGS. IT’S LOCATED ON A CUL-DE-SAC. 4 BEDROOMS, LOFT AND DEN. MINT CONDTION. WE RECIEVED AN OFFER JUST A FEW DAYS AFTER LISTING IT.

THIS IS JUST A REMINDER TO ALL SELLERS. YOU DO HAVE A CHANCE COMPETING AGAINST THE REOS AND SHORT SALES. CALL ME..PENNY O’BRIEN WITH RE/MAX EXPERIENCE. 4235 S. FORT APACHE RD. #170 LAS VEGAS, NV 89147..

HTTP://WWW.PENNYSPROPERTIES.COM

EMAIL: PENNY@PENNYSPROPERTIES.COM

• Location: Vistas in Summerlin

This is valuable information when it comes to the knowledge of foreclosures and how much time you have to get out.. (per say) every situation is different. 

Usually the minimum time frame for the standard foreclosure process is three months plus 21 days after recieving th ‘Notice of Default”.

There is also a 35 day “right to reinstate” perdiod.  All that means is during this 35 days the lender must reinstate the loan if it is brought current which includes payment and all and any fees that occured.  What happens next is from day 36-90 days is the redemption period.  where the lender may reinstate the loan, but is not required to.  They could request the loan be paid in full to retain the property. After the next 21 days is called the pubising period, which in other words is the notice of sale. The notice of sale is required to be published. 

Short sales do not have to not apply to how the foreclosure method works. 

My office at RE/MAX Experience  has many investors looking to buy short sales if you’re interested in finding out more information.

Can you believe that in the month of January there were over 8k homes that went into foreclosure?  Our total number here in Las Vegas as far as REO’S is 23,000 or so… Nationwide there are 575,266 REO’s…. The numbers just keep getting higher and higher. 

If you are in the process of not making your house payments, give me a call.  My office works directly with investors that are buying short sale properties.  The difference between short sale and foreclosure on your credit score is huge.  Call me for free short sale information.  I can probably help you. Thanks for your time. Penny O’Brien www.Pennysproperties.com or call me at 702.321.9383