SHORT SALES BRING IN 24% GREATER RETURNS THAN FORECLOSURES

The real estate pros at New England based McGeough Lanacchia Realty have been proponents of Short Sales for quite some time, insisting that everyone gains when a Short Sale is achieved as opposed to a foreclosure.

 On average, a home …

THE CLOCK IS RUNNING OUT FOR THE MORTAGAGE DEBT FORGIVENESS ACT!

Given the huge public and private resources now being devoted to helping financially distressed homeowners,including the recently announced $25 billion settlement from the 5 largest banks, you might assume that a key Federal tax law benefit underpinning these efforts …

HOME BUILDERS OPTIMISTIC ABOUT RISING NEW HOME SALES IN 2012

The National Association of Home Builders/Wells Fargo said its Builder Sentiment index rose for a fifth straight month in February to 29, up from 25 in January, to its highest level since May 2007.

Builders have generally become more …

NUMBERS IN LAS VEGAS DON'T SUPPORT THE BANKS EFFORTS OF OFFERING CASH PAYMENTS FOR SHORT SALES IN OTHER STATES

Local LAS VEGAS REALTORs ASKS --
"Why is it that 48 percent of home sales are foreclosures and only 26 percent are short sales? "

"It's funny that they put this out …

SOME BANKS ARE OFFERING CASH INCENTIVES TO ENCOURAGE SHORT SALES

Banks, accelerating efforts to move troubled mortgages off their books, are offering about $35,000 in cash to
delinquent homeowners to sell their properties for less than they owe.

Lenders have routinely blocked or delayed such transactions known as short …

LAS VEGAS HOME PRICES EXPECTED TO KEEP DROPPING FOR THE NEXT 6 MONTHS AND RECOVERY WON'T COME UNTIL BANKS INCREASE FORECLOSURES

According to housing analyst Dennis Smith in his annual housing report.

"2012 in my opinion is going to be the most interesting year yet because of the governments intervention trying …

DOWNWARD TREND ON LAS VEGAS HOME
PRICES - REPORTS SHOW LOWER PRICES
THAN A YEAR AGO WITH A LOCAL BUYING
BOOM

Core-Logic of Santa Ana, California
which tracks home prices, said existing
home prices in the Las Vegas area in
November were down 10.8 percent from
November 2010.

The market …

48,186 SINGLE-FAMILY HOMES AND CONDOS
WERE SOLD IN LAS VEGAS IN 2011, TOPPING
THE PREVIOUS RECORD OF 46,879 SET IN 2009

Prices were being held down by cautious
appraisers and the many foreclosures.
Roughly half of all sales were cash-only
transactions while 46.8 percent were
real-estate owned …

NEVADA SUPREME COURT RULING MAY
CAUSE RIPPLE EFFECT IN HOUSING
INDUSTRY'S MORTGAGE FRAUD CASES

The Nevada Supreme Court weighed
arguments Wednesday on whether
U.S. Bank can foreclose on a Douglas
County couple's home even though not
all required documents were presented
during mediation, required under a
recent …

NATIONALLY, BUILDERS SPENT MORE ON
SINGLE-FAMILY HOMES, APARTMENTS AND
REMODELING PROJECTS AS CONSTRUCTION
ROSE 1.2 PERCENT IN NOVEMBER.

This was the third increase in the
last four months. For November, strength
was seen in housing and government spending.

Nonresidential spending fell, reflecting
declines of office buildings and shopping
centers …