Contrary to what the local doom and gloom media reported yesterday, Las Vegas home prices didn’t “plunge” 28.4% in May.  Can someone please help their writers get this right?  On three accounts (that I see…though there are bound to be far more) they blatantly distorted the facts to appear far worse than the numbers truly [...]

Somebody ought to write a positive headline once in a while, especially when the Las Vegas closing numbers look good.
Pending Sales:
Pending sales for single family homes are above 2700 units today. Pending sales hovered around 2500 during May and 2600 in June and produced closings above 2000 units in each of those months. Contingent sales, [...]

Here’s what I think happened:
I will try to be brief. This is a snap shot, not a docu-drama, but I had to tell somebody.
The media has a different point of view, of course, but in my experience here in Las Vegas, those greedy investors who are now getting what they deserve and those poor home [...]

Kendall Trotter and Steve Hawks discuss the repercussions of the elimination of FHA down payment assistance programs. Homeowners and home buyers know these programs as Nehemiah,Ameridream etc. HUD officials said approximately 33% of FHA loans used down payment assistance,and these loans caused “substantial losses.” The agency has asserted that borrowers of down payment assistance-style loans [...]

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Two of Las Vegas top real estate analyst Kendall Trotter and Steve Hawks discuss the future of the luxury home market in Las Vegas.Steve Hawks states the semi custom million dollar luxury homes in guard gated communities is going to be hit the hardest. “We already see some homes that were one to two million [...]

Pending Sales:

Here we are at the half way point in July, and pending sales are right where they were last month. June 15 2008 saw single family pendings at 2602 units; July 15 shows 2605 pending units. Also noteworthy, single family contingent sales - those in contract but still subject to inspections or financing, were [...]

With such a mixed bag of news coming from all directions regarding the Las Vegas housing market, at least its nice to hear the local news media reporting on something positive, rather than continuing with the doom and gloom we’re all so used to.
Thanks to Makea Turner for posting this great video on YouTube and [...]

(Thank you Roberta LaRocca - Superb Las Vegas Real Estate Agent & on top of the market!  Contact her for your Las Vegas Real Estate Needs. ~Admin)
Yes, contrary to all the gloom & doom the media likes to blast out about Las Vegas, home sales are up for the 6th straight month. Inventory levels also [...]

I received word earlier this afternoon from my Las Vegas Account Executive with IndyMac that they are shutting down their wholesale lending line. Reportedly, more than half of their work force (7,200) are being let go.
I remember some of the mortgage products IndyMac specialized in…Low-Doc, No-Doc and Stated Income with sprinkles on top. [...]