Las Vegas Realty Radio

You’re Kidding…right

ronnie — Tue, 12 Oct 2010 20:57:32 +0000

I have been the business of selling real estate for over 25 years, with the last 16 years in Las Vegas and I know that everyday is different, but you have got to be kidding on what’s been going on over the past 10 days in the lending industry. Just like a cab driver needs a cab to make a living or a painter needs paint or a bow needs an arrow to hit a target…we in who sell real estate needs lenders to loan money.

Never in my wildest dreams did I everything that the lending industry would have such an effect on our everyday lives. I thought that they might have learned a lesson on making in some cases, bad and stupid loans…but greed took hold.

Now as the headlines in the newspaper and the lead stories on the evening news tell us about the next saga in our real estate crisis I have to step back and say…we should all be made as hell and tell the powers that be, that we are just not going to take this anymore. We are seeing our country come apart one little piece at a time. We will never recover if we don’t have confidence in our systems, both government and private. I know it’s been said not to let the government get involved in this or that…or leave it to private industry. I think we are understanding that it doesn’t make a hill of beans whether it’s private or government controlled…we the people are out of control. We make the decisions. Someone told the employees to just sign and not check for accuracy. They know what they were sign had not been been check…yet they did it anyway.

Folks…we are in big trouble, my kids are in big trouble, my 10 year old grandson is in big trouble.

WHAT DO YOU THINK?

Great Opportunities in Las Vegas

neil — Thu, 30 Sep 2010 17:48:59 +0000

Although many people are losing their homes due to foreclosure and having to sell under short sale programs, this has created great opportunities for people who missed the chance to buy before the last run up of prices. Homes in the Las Vegas area are down almost 55% from 4 years ago. Match that with the lowest interest rate in years and you can see why now would be a great time to buy.

In many cases I tell potential buyers who can buy now but want to wait for several reasons, that they need to consider their quality of life. Having one’s own place and having the comfort of knowing that when you return home from work you have accomplished the goal of “The American Dream”…home ownership! To be able to sit out in your own back yard and relax in a safe enviornment is a great feeling. Now is the time to take advantage of the market.

The new norm in Las Vegas

neil — Mon, 27 Sep 2010 18:18:44 +0000

With 25 years experience in residential real estate sales between Los Angeles and Las Vegas you tend to think that you have seen it all. Well…I haven’t. The Las Vegas real estate experience is brand new and based on my feeling, what we are going through now is going to be the new norm for quite some while.

What is the new norm? The new norm will be made of up of 3 kinds of sellers…equity sellers ( those that have mortgage below the present market value of their home) , the short sellers ( those who own more that the homes market valve) and REO sellers ( property that have been taken back by a bank or private lender for non-payment of the debt.)

The new norm will be made up of very little appreciation if any. Home values will continue to move up and down in very little movements. We will not see huge swings in either direction.

The new norm will be in how easy or hard it will be for a buyer seeking a loan to actually get one due to the changes taking place in the lending arena. Buyers who lost they homes during this great recession and who want to buy again will have a waiting period in order for the lenders to feel comfortable enough to take a risk again on these buyers.

The new norm is that with the prices being where they are, and the interest rates being where they are, it’s an unbelievable time to invest or to purchase a home to occupy. These 2 factors will be with us for some time to come.

So… let me me know what you are thinking.

Neil Schwartz…Broker/salesperson…Coldwell Banker Premier Realty

Could the same thing be happening in Las Vegas again!?

ronnie — Thu, 23 Jul 2009 04:04:37 +0000

It appears to some that we are back to 2004 to 2006 in regards to multiple offers on many properties. This time the majority are bank owned properties. What’s going on?? What’s going on is that the prices have dropped so dramatically that many people can now afford to buy a house again. In addition to that, investors can now buy a property for a rental and actually have a positive cash flow. So with the increased demand and the reduction in bank owned inventory, buyers are lining up. This is both good and bad. Good for the seller and the one who gets his offer accepted but bad for the many who can’t compete with cash offers or buyers with large down payments. If you are a buyer, be prepared to write clean sensible offers. Don’t believe what you hear or read about being able to “steal” a home for just pennies on the dollar. Are we out of the woods yet? We don’t think so. Even with signs of multiple offers & lower inventories, we still believe that the housing market will not recover until the economy and unemployment improve. What do you think?

LVRR 021 – New Laws Affecting Homeowners

ronnie — Mon, 20 Jul 2009 06:12:18 +0000

This week’s guest is Devin Reiss, President of the Nevada Association of Realtors. Devin speaks on the 2009 legislative session and how the new and proposed changes in the law will affect homeowners and property rights in Nevada.

LVRR 020 – What HUD Can Do For Homeowners

ronnie — Sat, 27 Jun 2009 05:19:36 +0000

Our guest on this show is Kenneth Lobene, Director of Housing & Urban Development in Las Vegas. Mr. Lobene discusses the role of HUD in helping people purchase & retain their homes during this housing & mortgage crisis. Information, advise & credit counseling services are available from HUD approved agencies without charge to homeowners as well as other available services.

LVRR 019 – Attracting Businesses to Las Vegas

ronnie — Sat, 20 Jun 2009 03:55:37 +0000

Our guest for this show is Somer Hollingsworth, President & CEO of the Nevada Developement Authority. We discuss how the NDA goes about attracting businesses to relocate to Las Vegas and the challenges and advantages businesses face when they relocate to our state.

LVRR 018 – The Public’s View

ronnie — Fri, 12 Jun 2009 03:43:24 +0000

Today we speak with Ron Kirsh of Kirsh Media in an off the cuff “man on the street” discussion of how the economy & housing market have affected living in Las Vegas. Ron gives us his insight into the changes he has seen over the years as a resident, homeowner & business owner.

LVRR 017 – Changes in Mortgage Financing

ronnie — Fri, 05 Jun 2009 02:39:42 +0000

The President’s Stimulus Package & bank bailout assistance has created changes & opportunities for buyers & sellers in the real estate market. Our guest Scott Gillespie, a mortgage planner with MetLife Home Loans, returns to discuss the changes in financing that are occuring & how buyers & sellers can take advantage of those changes. Scott also discusses the difference between Conventional, FHA & VA loans and how the requirements differ in the purchase of condominiums. Don’t miss this important interview.

LVRR O16 – Mortgage Fraud & Loan Modification Scams (Rerun)

ronnie — Sat, 30 May 2009 22:51:37 +0000

Mortgage Fraud & Loan Modification Scams continue to be a hot topic in the Las Vegas media. This week was a rerun of the our interview with John Kelleher, Deputy Attorney General & Head of the Mortgage Fraud Task Force. The interview is found in show #5 and well worth listening to again or for the first time if you missed it.