Las Vegas Real Estate Blog

Thanks to the Associated Press for supplying this YouTube video.

Hundreds have been swept up across the nation for mortgage fraud & other fraudulent activity related to the mortgage industry. Even two Bear Stearns Hegde Fund managers were cuffed up & led on a mid-day perp walk after investigations revealed that they were aware of taking investors money that had no chance of return. (Yikes!) I will try to get my hands on copies of the internal Bear Stearns emails that show this. JP Morgan may have bought Bear Stearns for pennies on the dollar, but lawsuits from defrauded investors are bound to add on to more of the cost.

If you would like to search a directory of honest mortgage professionals, please visit The MortgageER. Although still in beta release, you can get a great feel for the industry changes they are striving for.

Thanks also to Steve Hawks for finding this video & relaying it to me.

httpv://www.youtube.com/watch?v=olyADGFCPt0&feature=related

Doom and gloom surrounds the local and national real estate headlines, but pending and contingent sales figures have seen a dramatic increase (as noted in other posts). Similarly, high-end luxury homes in Las Vegas have not seen a decline in value, but rather a dramatic increase. Ultra high-end luxury homes are considered homes with a sales value over $1.5 million. Buyers above that mark seem not to be affected by the tightening of credit in the Jumbo mortgage loan market.

Interestingly, the market between $700,000 to $1.5 million (or around the $1 million range) will probably face yet more declination of value. Steve Hawks is anticipating what he has called a “million dollar massacre”, as Jumbo mortgages for these borrowers are tough to qualify for, hard to fund, and surrounded by a shadow of FBI investigation due to mortgage fraud. With a lack of qualified borrowers and increased scrutiny, these properties may see values continue to drop.

Read more on this subject, an interview with Steve Hawks, and insight into other aspects of the current Las Vegas Real Estate market at the Review Journal.

Prices increase in high-end housing market while sales stay steady

Veteran Realtors and Las Vegas top consumer advocates for Vegas home owners and home buyers, Kendall Trotter and Steve Hawks continue their discussion about new home builder fraud.The fraudulently inflated new homes caused values to rise beyond what they should have been in the free market with add ones like cars and cash back. This unknown cash back also caused the resale market to sky rocket beyond what it should have done since many of the resales pricing was attributed to the cost of a new home. It also caused the unsuspecting home buyer to over pay based on the fraudulent cash back prices of some new homes. It also has caused consumers to doubt what the real value is.This is not a problem for current buyers and sellers though. Kendall Trotter,Steve Hawks and The Las Vegas Real Estate Update will clear up all your doubts with the real facts and the real market value.

httpv://www.youtube.com/watch?v=2K1gE8DZrhI

Las Vegas Builder Fraud? Yeah, you’d better believe it! You will be floored to discover how deep the rabbit hole goes.
Las Vegas leading consumer advocates for homeowners and veteran real estate agents Kendall Trotter and Steve Hawks continue their discussion with former new home builder employee Dana Ellis. The trio explore the missing addendum’s that directed the cash back. Trotter and Hawks also ask Ms.Ellis how they buyer could have known that possible fraud was occurring. Trotter states the buyer just thinks they are getting another incentive, looking back how could have the average buyer know that addendum’s were not being passed on to the mortgage company.The homebuyers just knew they were getting their credit cards paid off, a new car paid off etc. Watch this continuation of one of the most shocking events in recent Las Vegas real estate history.

httpv://youtube.com/watch?v=H5-EY4pcPH4

Las Vegas real estate experts Kendall Trotter and Steve Hawks discuss the difference between mortgage fraud for property and mortgage fraud for profit. Did fraudulently inflated sky high prices cause people to do things they ordinarily wouldn’t do, Did the rampant fraud for profit cause the average Las Vegas home buyer to commit a little fraud for property? Find out in this episode of Las Vegas Real Estate update.

httpv://youtube.com/watch?v=S-Chu4KswYY