Seller differences between foreclosure and short sales

Issue Foreclosure Successful Short Sale Credit Score   A foreclosure will show up as a public record on your credit report, the same as a bankruptcy will show. The impact of a foreclosure can be anywhere from 200 to over 300 points.  The foreclosure with typically will affect score for a minimum of 3 years […]

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Things to know when consider buying a foreclosure

1. The Buyer and Agent realize that the negotiation and purchase process are different for Bank Foreclosures (REO) properties. Understand that additional patience and cooperation are required and appreciated. 2. Offers contingent upon the sale of an existing home will not be considered. All offers must be neat and legible. It may be necessary to […]

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Rent vs Buying Comparison Chart

          Buy vs. Rent Comparison Chart   Advantages Considerations Buy Property builds equity Responsible for maintenance Sense of community, stability, and security Responsible for property taxes Free to change decor and landscaping Possibility of foreclosure and loss of equity Not dependent on landlord to maintain property Less mobility than renting   Rent Little or no […]

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Information on First Time Home Buyer Tax Credit

Frequently Asked Questions About the First-Time Home Buyer Tax Credit The Worker, Homeownership, and Business Assistance Act of 2009 has extended the tax credit of up to $8,000 for qualified first-time home buyers purchasing a principal residence. The tax credit now applies to sales occurring on or after January 1, 2009 and on or before […]

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Foreclosures or REO’s

REO PROPERTY INFORMATION What is an REO?  REO means “real estate owned” and is a term used by the financial industry to describe properties that a financial institution has repossessed by foreclosure, a deed-in-lieu of foreclosure, or other means.  REO properties are also called “bank owned” or “corporate owned” because the owner of record is […]

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Cost Comparison Buying vs Renting

Savings: Buying In many cases, the amount of money a renter spends on rent can be about the same as or less than the amount a homeowner spends on a mortgage. With the tax benefit for homeowners, the savings can be significant. Buy vs. Rent Comparison The chart below shows a cost comparison for a […]

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Where is the Market Headed?

For several years now there has been talk about the real estate market bottoming out. Some say it has already hit the bottom and is only going to rise from here, some say prices could still fall from where they are today. The only thing we are sure of in the Las Vegas real estate […]

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The Toxic Neighbor

For homeowners who pay their mortgage foreclosure homes are the ultimate toxic neighbor. There are many negative side effects to having a neighborhood full of foreclosures. From July 2008 to July 2009 it was estimated that homeowners who make their mortgage payments had the value of their homes reduced by $78,000 in a year period […]

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Valley Home Prices Rising

The real estate statistics are in for the month of November, with surprisingly good news for the Las Vegas and Henderson Valley. Despite many predictions that prices would continue to decline further during the normally slow holiday season, Las Vegas was ranked third in the nation for home price gains in the month of November. […]

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