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Purchasing a short sale property which requires the seller’s lender approval is very complex situation.  Even if you are working with the seller, however, the lender must approve the final numbers.  We are asking them to accept less than what may be currently owed to them on the property.

If you submit an offer on a short sale property they usually should be submitted to the bank as they come in.  This is not always the case since some real estate agents wait to submit groups of offers at once.  This can delay an offer for at least a week to 10 days. Once it is submitted, it will take at a minimum 30-90 days to get a response, all depending on the institution that holds the note. Hopefully the seller has received approval for the short sale. If not,…

I am Stuart Sheinfeld a realtor in Las Vegas. With the increase of short sales, foreclosures, oil prices, unemployment and the decreasing of the US dollar; when will we start to see a turn in this slumping economy?

 New-home sales in Las Vegas have been consistently low over the past six months and appear to have possibly reached the bottom of this dreaded bear market.

 There were 922 recorded escrow closings for new homes in June, bringing the total for the first half of the year to 5,747, a 45.1 percent decrease from a year ago.

Taking out 114 high-rise and mid-rise condos and 31 apartment conversions, sales of traditional single-family detached homes totaled 777, the sixth straight month under 1,000. The high mark of 3,233 came in June 2006.

Is…

Ever famous for its Tourist appeal, LAS VEGAS is a 'booming' real estate development 'hot spot', both residentially and commercially.  Las Vegas, Nevada is one of the fastest growing cities in the world. As a result, the real estate and home market is nothing short of extraordinary.

 Las Vegas, home to 1,825,000 people, welcomed 38,772,166 visitors in 2005, was ranked number one in the U.S. in real estate appreciation with a 36% average appreciation rate and a five-year average appreciation greater than 84%. As far as strength and growth, Nevada continues to outpace every other state in the nation in job creation, with nearly 76,000 jobs added over the past year, a 6.8% job growth, highest in the country. Due to the state attractive business climate,…