Viva Las Vegas Homes

Appraisals guidelines may change…

Proposed Bill May Change Home Appraisals

LAS VEGAS — Home values have taken a nose dive from where they were a few years ago. Many realtors and homeowners blame appraisers for bringing down home values, but appraisers say it’s not their fault.

Appraisers decide a home’s value by comparing it to what other homes are actually selling for.

A new bill in the Nevada Legislature intends to change that criteria and it is getting mixed reviews. The proposed bill wants to prohibit appraisers from using foreclosures and short sales when appraising a home’s value.

…more.

Las Vegas still No.1 in Foreclosures

The report shows that foreclosure activity increased from 2009 in 149 of the nation’s 206 metropolitan areas with a population of 200,000 or more. There was some good news, however. The metro areas with the 10 highest foreclosure rates — including Las Vegas — all posted decreasing foreclosure activity from 2009, and six of the top 10 also posted decreasing foreclosure activity from 2008.

See full article from DailyFinance: http://srph.it/h8QDV7

$8,000 Tax Credit EXTENDED until April 2011 for Armed Forces

Not many people know this – but the $8,000 Tax Credit was extended for another year for anyone that was previously eligible for the tax credit but was out of the country for 90 days or more within the last year. Call us for more information – John Bostedt johnbinvestments@aol.com

HAFA Guidelines are here to help homeowners with shortsales

HAFA guidelines are designed by the Treasury to PROTECT homeowners when doing short sales. There are some basic requirements to meet – but the program is absolutely doable for homeowners with their primary home.

http://www.realtor.org/wps/wcm/connect/9129218041fa193e98a4fcc7ba2f3d20/FAQs-NAR+as+of+4-5-10.pdf?MOD=AJPERES&CACHEID=9129218041fa193e98a4fcc7ba2f3d20

Beware of a Mortgage Rate Spike This Spring

A looming shift in Federal Reserve policy could send the 30-year fixed mortgage to 6% or higher, up from Monday’s rock-bottom rate of 5.02%. For all the hullaballoo about the stimulative impact of last week’s decision to extend the $8,000 First-Time Home Buyer Tax Credit and create read more

First Time Homebuyers Leading Market Back

Propelled by the first-time homebuyers tax credit, nearly half of home sales are now being made by first-time purchasers, according to an industry report released Friday. In fact, 47% of all Americans who purchased homes this year had not owned one read more

Simple But Elegant Home Decorating Tips

Have you ever walked into someone’s home and you were just in awe. You probably thought, wow I’d love to be able to do that or I wish I could do that, or I’d love to have that. Home decorating tips can be fun and the changes in your home can leave you feeling victorious. read more