Why hire Amanda Brown for your Las Vegas, Short Sale

http://www.lasvegasshortsalesnow.com This client testimonial shares why Amanda Brown should be selected as your Las Vegas Short Sale expert. Cash Back at Closing and firm negotiations with the Bank.. Call Amanda Brown before Paying High Attorney Fees for your Las Vegas Home. 702.496.7416

http://youtu.be/p_EJ9_NsfIw

Feel there are no options to get a loan!

Has It Been A Year Since You Filed For Bankruptcy Short Sale or Foreclosure? Then This Mortgage Is For You

There was a time when those who defaulted on their debt, especially mortgages, had to wait 3-5 years before they became eligible for any form of new credit, let alone a brand new mortgage. That, however, was in the Old Normal. In the New one things are different: so different, that for anyone who filed a bankruptcy short sale or foreclosure on or before July 2012, we have good news for you - the FHA (subject to an explanation and several almost painless conditions) will be happy to provide you with a brand new mortgage.

So Call Amanda Brown at 702-496-7416 to see how she can help you get the home of your dreams!

Prices are going up in Las Vegas

Prices are on the rise in Las Vegas!  Don't pay high commissions, call now and we can sell your home for 1%!!, 702-496-7416

Take advantage of the BUBBLE!

GLVAR report shows 18-month run of rising home prices

     LAS VEGAS – An 18-month run of rising local home prices showed no signs of slowing down in July, according to statistics released today by the Greater Las Vegas Association of REALTORS®(GLVAR).

“Local home prices have been going up since February of 2012 and are now rising faster than anyplace else in the country,” said GLVAR President Dave Tina, a longtime local REALTOR®. “Looking back, the median price of an existing single-family home sold here in Southern Nevada bottomed out at $118,000 in January of 2012. Now it’s up to $180,000. We keep expecting these price increases to slow down at some point, but it hasn’t happened yet.

The median price of an existing single-family home sold in Southern Nevada during July was $180,000, up 2.9 percent from $175,000 in June and up 35.3 percent from $133,000 one year ago. Even with this recent appreciation, Tina pointed out that “home prices still have a long way to go to catch up to where they were during our peak,” when the median local home price hit $315,000 in June 2006.

Meanwhile, the median price of local condominiums and townhomes sold in July was $91,500, up 6.4 percent from $86,000 in June and up 37.6 percent from $66,500 one year ago.

Like last month, Tina welcomed a modest increase in the number of homes listed for sale, though he said the local housing supply is still far too tight to meet demand. GLVAR has also been tracking an increasing number of homes sold by “traditional” sellers – as opposed to lenders, who are responsible for the short sales and foreclosures that dominated the market a few years ago. In July, Tina said “traditional” sales accounted for a recent high of 64 percent of all local home sales.
As in past months, GLVAR has also been reporting fewer foreclosures and short sales – which occur when a lender agrees to sell a home for less than what the borrower owes on the mortgage.

In July, 28.0 percent of all existing home sales were short sales, down from 31.0 percent in June. Another 8.0 percent of all July sales were bank-owned properties, down from 9.0 percent of all sales in June. The remaining 64 percent of all sales were the traditional type, up from 60 percent in June.

Tina expects short sales to continue being a factor in the local housing market this year, primarily because the federal Mortgage Forgiveness Debt Relief Act is set to expire Dec. 31, 2013. Barring any further extensions, any amount of money a bank writes off in agreeing to sell a home as part of a short sale starting in 2014 may become taxable when sellers file their income taxes.

GLVAR said the total number of existing local homes, condominiums and townhomes sold in July was 3,633. That’s down slightly from 3,642 in June, but up from 3,572 total sales in July 2012. Compared to June, single-family home sales during July decreased by 0.7 percent, while sales of condos and townhomes increased by 1.9 percent. Compared to one year ago, single-family home sales were up 1.8 percent, while condo and townhome sales were up 1.3 percent.

The total number of properties listed for sale on GLVAR’s Multiple Listing Service increased in July, with 14,133 single-family homes listed for sale at the end of the month. That’s up 2.8 percent from 13,750 single-family homes listed for sale at the end of June, but down 16.6 percent from last year. GLVAR reported a total of 3,479 condos and townhomes listed for sale on its MLS in July, up 0.9 percent from 3,448 listed in June, but down 7.4 percent from one year ago.

GLVAR also reported more available homes listed for sale without any sort of pending or contingent offer. By the end of July, GLVAR reported 4,681 single-family homes listed without any sort of offer. That’s up 22.3 percent from 3,828 such homes listed in June and up 9.0 percent from one year ago. For condos and townhomes, the 1,609 properties listed without offers in July represented a 9.9 increase from 1,464 such properties listed in June and a 31.5 percent increase from one year ago.

In July, GLVAR reported that 54.5 percent of all existing local homes sold were purchased with cash. That’s down from 55.3 percent in June and down from the peak of 59.5 percent set in February. Since 2011, cash buyers have accounted for more than half of all existing local home sales.

The median price of bank-owned homes sold in July was $172,950, up from $163,750 in June. The median price of homes sold as part of a short sale in July was $149,000, up from $145,600 in June.

These GLVAR statistics include activity through the end of July 2013. GLVAR distributes such statistics each month based on data collected through its MLS, which does not necessarily account for newly constructed homes sold by local builders or for sale by owners. Other highlights include:

• The monthly value of local real estate transactions tracked through the MLS during July decreased by 0.7 percent for homes to nearly $649 million. For condos and townhomes, the total value of all sales in July was more than $110 million, up 21.4 percent from June. Compared to one year ago, total sales volumes in July were up 31.0 percent for homes and up 70.0 percent for condos and townhomes.


• In July, 77.9 percent of all local homes and 76.3 percent of all condos and townhomes sold within 60 days. That compares to June, when 76.6 percent of all local homes and 71.6 percent of all condos and townhomes sold within 60 days.

Changes happening with Bank of America Loans

Bank of America is transferring loans!  If you are considering a short sale, read below.  This is important.  You want to make sure you hire a Las Vegas Professional agent to help you.  Call Amanda Brown now to find out why over 1000 homeowners have trusted her!  702-496-7416


Recommended Action: Real estate professionals should advise homeowners that a servicing transfer may occur at any time during the short sale process.

Bank of America services mortgage loans for hundreds of investors. As a part of normal servicing,investors may decide to release or transfer servicing from Bank of America to another company. The transfer of loan servicing is a common practice across the industry, and occurs for a variety of reasons. At certain times investors choose to partner with other servicing companies to help meet the needs of the investor.

Servicing may be transferred on first, second or stand-alone liens. You should contact the new servicer to determine what steps need to be taken to continue with the short sale.

Some key activities that may occur during servicing transfer:

• Bank of America will send the homeowner a letter 15 days before the servicing transfer date.
• Bank of America may call the agent to advise them of the impacts to the short sale.
• The new servicer will send a letter or statement advising the homeowner where to send payments.

Recommended Action:

• Review the recently updated Frequently Asked Questions document.
• Advise the homeowner to maintain all contact information and letters related to the servicing of their mortgage.
• Frequently collect all servicer contact information and letters, from the homeowner, throughout the short sale.

Court Rules Borrowers Can Fight Bank's Decision to Deny Modification

You have right's, don't let the bank take advantage of you!

Homeowners who are denied a modification under the Home Affordable Modification Program (HAMP) even after completing a trial period plan (TPP) have legal standing to sue their lender, the 9th U.S. Circuit Court of Appeals in San Francisco ruled Thursday.

The ruling reversed a lower district court dismissal that concluded Wells Fargo was not required to offer borrowers a modification if the bank did not send a signed modification agreement.

The federal appeals court decision, however, ruled that Wells Fargo actually was contractually required to offer the plaintiffs a permanent mortgage modification since the plaintiffs submitted accurate financial documents and completed their trial period plan.

“The panel held that the district court should not have dismissed the plaintiffs’ complaints when the record before it showed that the bank had accepted and retained the payments demanded by the TPP,” the court opinion stated.

The ruling was based on two lawsuits from borrowers who filed separate actions against Wells Fargo. In Corvello v. Wells Fargo Bank, NA and Lucia v. Wells Fargo Bank, NA, the plaintiffs alleged that the bank offered them a trial period plan with the promise of a permanent modification, but after they completed the trial, the bank did not offer them a permanent modification or send them a notification of ineligibility.

The panel in the federal appeals court also cited a prior case,Wigod v. Wells Fargo Bank, NA, in its ruling. In Wigod, the 7th Circuit Court of Appeals found Wells Fargo’s interpretation of the trial period plan could allow banks to avoid obligations to modify borrowers simply by deciding not to send a signed modification agreement even if the borrower submitted accurate financial documents and the required trial payments.

Recent Articles

Economic Update - August 12, 2013

I am licensed to originate mortgage loans in the following state(s): CA, NV

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Sean Uyehara Senior Loan Officer Prospect Mortgage 2370 Corporate Circle, # 190 Henderson, NV 89074 Office: (702) 492-4664 Cell: (702) 336-4980 Fax: (877) 801-9423 sean.uyehara@prospectmtg.com NMLS# 338525  • Learn about home loans • Use loan calculators • Apply for a home loan Referral Request:  Please forward my contact information to anyone you know with a need for real estate financing!   Like Prospect on Facebook Follow Prospect on Twitter Follow Prospect on LinkedIn In the News Non-manufacturing activity rose to 56 in July from 52.2 in June. A reading above 50 signals expansion. It was the 43rd straight month of expansion in the services sector. The trade deficit decreased from $44.1 billion in May to $34.2 billion in June. It was the lowest trade gap in more than four years. Exports rose $4.1 billion to $191.2 billion. Imports decreased $5.8 billion to $225.4 billion. The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending August 2 rose 0.2%. Purchase volume rose 1%. Refinancing applications were unchanged. According to the Federal Reserve, monthly consumer credit debt rose $13.8 billion in June for a total credit debt level of $2.848 trillion. Revolving debt, which includes credit cards, decreased $2.7 billion to $853.6 billion. Non-revolving debt, including loans for cars, rose $16.5 billion to $1.994 trillion. Wholesalers decreased their inventories 0.2% to $499.7 billion in June. Sales at the wholesale level rose 0.4% to $425.9 billion in June. On a year-over-year basis, sales were 5.6% higher than June 2012. The seasonally adjusted wholesale inventories/sales ratio in June was 1.17, the leanest reading since April 2012. Retail sales rose 0.3% for the week ending August 3, according to the ICSC-Goldman Sachs index. On a year-over-year basis, retailers saw sales increase 2.5%. Initial claims for unemployment benefits for the week ending August 3 rose by 5,000 to 333,000. Continuing claims for the week ending July 27 rose by 67,000 to 3.018 million. The less volatile four-week average of claims for unemployment benefits was 335,500. Upcoming on the economic calendar are reports on retail sales onAugust 13, the housing market index on August 15 and housing starts on August 16. Share:   Click here to visit my website and apply online: http://www.myprospectmortgage.com/SUyehara

Cash Remains King in Las Vegas Housing Market

LAS VEGAS -- More than six of every 10 residential properties sold in the Las Vegas metropolitan area in June involved cash transactions, one of the highest rates in the nation, RealtyTrac.com reported Wednesday night.

The real estate analytics company from Irvine, Calif., reported that cash transactions made up 62 percent of all residential sales in Las Vegas, third highest behind only Cape Coral-Fort Myers, Fla. (70 percent) and Miami (64 percent). The national average was 30 percent.

It was also reported that median housing prices in Las Vegas climbed 26 percent in June versus the same month a year ago, far exceeding the 5 percent price hike nationally. Only the California cities of Sacramento (35 percent), San Francisco (30 percent) and Los Angeles (27 percent) experienced better results.

The median sales price of a residential property in Las Vegas was $145,600 in June, $22,400 below the national average.

Of all residential sales in Las Vegas, 22 percent in June involved bank-owned properties, fourth highest behind Modesto and Stockton, Calif., and Detroit (all at 24 percent).

RealtyTrac also reported that short sales accounted for 30 percent of all residential sales in Nevada last month, tops in the nation. Institutional investor purchases, defined by RealtyTrac as those involving non-lending entities that bought at least 10 properties in the past year, accounted for 16 percent of all residential sales in Nevada in June. That was second behind only Georgia (23 percent).

"The U.S. housing market is slowly but surely moving toward a more normalized and sustainable pattern after a flurry of institutional and cash buyers flocked to residential real estate last year, pushing up prices and picking clean the best inventory available in many areas," RealtyTrac vice president Daren Blomquist said. "Rising home values should continue to unlock more non-distressed inventory while also pricing institutional investors out of more markets, which, combined with rising interest rates, will cool off the pace of price appreciation.

"Still, lingering distressed inventory in many markets will continue to provide fodder for institutional investors and cash buyers in those markets."

Equity in your home, call Amanda Brown now to sell!

Patricia called Amanda Brown thinking she was going to have to short sale her home.  She had tenants in her property in Las Vegas, NV  and had to pay out of pocket each month to keep her mortgage current.  Well after meeting with Amanda, Amanda suggested to list her home a little higher and sale it as a normal sale.  Within days because of Amanda's aggressive internet marketing Patricia has a full list price offer on her home that closed in 30 days.  She was happy to profit $23,000 from selling her home with Amanda Brown.  What a blessing she felt when she thought she was going to have to loose her house as a short sale.  Call Amanda now at 702-496-7416 to see how she can help you. 

My first home sale was a great success thanks to Amanda Brown, Realtor and her team. The process from start to finish was handled with high efficiency and professionalism. Amanda and her team continually offered their help and support and were easily accessible to answer all my questions. My home listed, sold, and closed - all in less than the anticipated time frame. I confidently recommend Amanda and her team to anyone in need of selling their home. THANK YOU AMANDA and TEAM!!!

Patricia A.

Las Vegas Home Price Increases Lead Nation

Las Vegas home prices are on the rise, Call now to get your equity back in your pocket!  Amanda Brown, 702-496-7416

By WPC Staff

Single family home prices in Las Vegas are up 35.3 percent from a year ago, making Sin City the fastest growing residential market in the country, according to data released today by the Greater Las Vegas Association of Realtors.  

The median price of an existing single-family home sold in Southern Nevada in July was $180,000, compared to $133,000 a year earlier, a 2.9 percent increase from $175,000 in June, the association reports.

Condominium prices are up 37.6 percent from a year ago, with the median sale price at $91,500 in July, up 6.4 percent from $86,000 in June.

"Local home prices have been going up since February of 2012 and are now rising faster than anyplace else in the country," said GLVAR President Dave Tina in a statement.

Las Vegas was one of the markets hardest hit in the downturn and it has been one of the fastest to recover, in large part due to investors looking for distressed property. In July, 54.5 percent of transactions were all cash, down from 59.5 percent in February, GLVAR reports.

GLVAR also reports a decrease in the number of short and bank-owned sales. In July, 28 percent of sales were short sales, down from 31 percent in June. Traditional sales represented 64 percent of transactions in July, compared to 60 percent in June. The median price of bank-owned homes sold in July was $172,950, up from $163,750 in June.

The association also reports an increase in inventory, with 14,133 single-family homes listed for sale at the end of the month compared to 13,750 at the end of June. But the inventory was still 16.6 percent below last year.

Even with the recent activity, Las Vegas home prices are still far off the peak of $315,000 in June 2006. - See more at: http://www.worldpropertychannel.com/north-america-residential-news/las-vegas-home-prices-greater-las-vegas-association-of-realtors-condominium-prices-residential-market-7196.php#sthash.ya7CIxeN.dpuf