Showing posts with label foreclosures Henderson real estate Las Vegas condos Las Vegas Real Estate reo short sales stu shienfeld Stuart Sheinfeld stuart shienfeld Summerlin real estate. Show all posts
Showing posts with label foreclosures Henderson real estate Las Vegas condos Las Vegas Real Estate reo short sales stu shienfeld Stuart Sheinfeld stuart shienfeld Summerlin real estate. Show all posts
Sunday, March 6, 2016
Tuesday, November 24, 2015
5760 Sobb Ave, Las Vegas, NV 89118- Stuart Sheinfeld
http://www.zillow.com/homedetails/5760-Sobb-Ave-Las-Vegas-NV-89118/52210798_zpid/
Sunday, February 22, 2015
2245 Montferrat Ln, Henderson, NV 89044 - Stuart Sheinfeld Listing
https://www.youtube.com/watch?v=YAeFl1wNMpA
8428 Granite Springs Ct Las Vegas, NV 89139- Stuart Sheinfeld Listing
http://www.propertypanorama.com/instaview-tour/las/1510609
Juhl apartments greeting new retailers, restaurants
http://www.reviewjournal.com/business/retail/juhl-apartments-greeting-new-retailers-restaurants
Stuart Sheinfeld
Stuart Sheinfeld
Tuesday, August 12, 2014
LAS VEGAS REAL ESTATE HIGHLIGHTS
The supply-demand balance in the Las Vegas housing market has remained relatively stable in recent months. Prices in the resale market have continued to move north, availability has remained at a reasonable level and sales volumes are fairly robust.
Statistics released by the GLVAR show local home prices continued to climb in June while the percentage of buyers paying cash fell to its lowest point in four years.
Five Great Reasons to Buy a Home Right Now
Here are five reasons to buy a home right now.
1. More jobs are available
2. Houses are a great hedge against inflation
3. Housing price increases are slowing
4. Mortgage interest rates are still low
5. Pent-up demand ready to release Read article
Summerlin developer Howard Hughes Corp. has secured a nearly $312 million loan to finance its massive retail and office project under construction near Red Rock Resort. Read article
Vegas on a roll with 8,500-home development- Henderson's 2,000-acre Inspirada master plan is launching a Saturday sales blitz of pre-recession magnitude, with 16 new model homes in nine subdivisions.
CONTACT STUART SHEINFELD FOR MORE INFO ON THE LAS VEGAS HOUSING MARKET
The supply-demand balance in the Las Vegas housing market has remained relatively stable in recent months. Prices in the resale market have continued to move north, availability has remained at a reasonable level and sales volumes are fairly robust.
Statistics released by the GLVAR show local home prices continued to climb in June while the percentage of buyers paying cash fell to its lowest point in four years.
Five Great Reasons to Buy a Home Right Now
Here are five reasons to buy a home right now.
1. More jobs are available
2. Houses are a great hedge against inflation
3. Housing price increases are slowing
4. Mortgage interest rates are still low
5. Pent-up demand ready to release Read article
Summerlin developer Howard Hughes Corp. has secured a nearly $312 million loan to finance its massive retail and office project under construction near Red Rock Resort. Read article
Vegas on a roll with 8,500-home development- Henderson's 2,000-acre Inspirada master plan is launching a Saturday sales blitz of pre-recession magnitude, with 16 new model homes in nine subdivisions.
CONTACT STUART SHEINFELD FOR MORE INFO ON THE LAS VEGAS HOUSING MARKET
Sunday, November 27, 2011
Nevada recently enacted a new law AB-284- Stuart Sheinfeld
Nevada recently enacted a new law regarding bank foreclosures that is bad news for REO listing agents and the banks but may be an opportunity for people considering investing in Las Vegas real estate.
AB-284 essentially makes the banks swear an affidavit that they have the deed as well accurate loan documents and appropriate signatures before they can begin the foreclosure process (a.k.a. issuing a Notice of Default or NOD). It also requires banks to list accurate payment options and debt amounts for all liens in default. Finally, it requires the bank to show proof that this information is delivered to the appropriate party, not just mail it out and assume it is received and understood.
The immediate effects of the law are that REOs processed by banks in Las Vegas has dropped to from 1500-2500/mo slightly over 50 in the last 30 days; in other words the REO (and to some unknown extent, Short Sale) pipeline feeding our supply has been cut by over 95% overnight.
Furthermore, there is currently no estimated timeline for how long it will take banks to implement systems that can effectively get all the proper documentation together and pick up where they left off in processing Notice Of Defaults (NODs).
We know that the so-called “shadow inventory” reserve of REOs that banks hold in LV currently sits at approximately 15,000 homes, so it’s not as if there won’t be any homes for sale in the immediate term. To the contrary, the selection of homes and the prices might actually be better now than they will be in any point in the short-to-medium term given what looks to follow in the coming months.
Here’s why:
Our current inventory of REOs on-the-market sits today at about 2500 homes. Given the current consumption rate of 4000 homes purchased/month by buyers in LV, and that the supply of forthcoming REO and Short Sale homes available has been stalled or altogether stopped in the last 30 days, there will be an impact – perhaps a drastic impact – on supply.
If the supply of homes available decreased (banks decide not to release shadow inventory to meet demand) and the market’s demand for purchasing 4000 homes/mo stays constant, pricing pressure on available homes would be inevitable. Given that the banks would make more if prices went up, this outcome seems possible.
If that occurred, current buyers might actually see equity appreciation in homes bought in the near-term. October was the first month in recent memory Las Vegas actually saw prices go up. We have no way of knowing what will happen with any certainty with prices, but we do know right now that the supply of bank-owned properties being processed and available for the marketplace has been immediately diminished and the timeline for returning to business as usual is indeterminate.
Find out how to take advantage of this great buying opportunity contact Stuart Sheinfeld
AB-284 essentially makes the banks swear an affidavit that they have the deed as well accurate loan documents and appropriate signatures before they can begin the foreclosure process (a.k.a. issuing a Notice of Default or NOD). It also requires banks to list accurate payment options and debt amounts for all liens in default. Finally, it requires the bank to show proof that this information is delivered to the appropriate party, not just mail it out and assume it is received and understood.
The immediate effects of the law are that REOs processed by banks in Las Vegas has dropped to from 1500-2500/mo slightly over 50 in the last 30 days; in other words the REO (and to some unknown extent, Short Sale) pipeline feeding our supply has been cut by over 95% overnight.
Furthermore, there is currently no estimated timeline for how long it will take banks to implement systems that can effectively get all the proper documentation together and pick up where they left off in processing Notice Of Defaults (NODs).
We know that the so-called “shadow inventory” reserve of REOs that banks hold in LV currently sits at approximately 15,000 homes, so it’s not as if there won’t be any homes for sale in the immediate term. To the contrary, the selection of homes and the prices might actually be better now than they will be in any point in the short-to-medium term given what looks to follow in the coming months.
Here’s why:
Our current inventory of REOs on-the-market sits today at about 2500 homes. Given the current consumption rate of 4000 homes purchased/month by buyers in LV, and that the supply of forthcoming REO and Short Sale homes available has been stalled or altogether stopped in the last 30 days, there will be an impact – perhaps a drastic impact – on supply.
If the supply of homes available decreased (banks decide not to release shadow inventory to meet demand) and the market’s demand for purchasing 4000 homes/mo stays constant, pricing pressure on available homes would be inevitable. Given that the banks would make more if prices went up, this outcome seems possible.
If that occurred, current buyers might actually see equity appreciation in homes bought in the near-term. October was the first month in recent memory Las Vegas actually saw prices go up. We have no way of knowing what will happen with any certainty with prices, but we do know right now that the supply of bank-owned properties being processed and available for the marketplace has been immediately diminished and the timeline for returning to business as usual is indeterminate.
Find out how to take advantage of this great buying opportunity contact Stuart Sheinfeld
Saturday, December 12, 2009
City Center & Las Vegas Home Sales Are Up
Las Vegas housing inventory is declining. Investors in Las Vegas & Henderson don’t seem to be going away. Some buyers are facing a daunting task of 40 offers on bank owned properties, says a local real estate agent Stuart Sheinfeld. That is why we are seeing the increased success of short sales.
Foreclosure homes aren't properly maintained and lose value when they sit empty, he said. Banks also incur longer holding costs when they complete the foreclosure process.
Short sales have become better option to foreclosure; they have to be approved by the bank for hardship reasons and usually takes a long time to complete. The bank's red tape can take four to five months for an approval of a short sale.
The $8,000 homebuyer tax credit and the extension of that have boosted the market to record sales for this time of the year. A tax credit of up to $6,500 for current home owners has created a great investment opportunity for most people. Mortgage delinquency rates were highest in Nevada 14% and Florida 12% & the Clark County population hitting the 2 million mark are 2 factors keeping the Las Vegas real estate market hot, says Stuart Shienfeld
The foreclosure Mecca, Las Vegas has experienced home prices at a 50 percent decline from their peak in 2006. The median price of a home there is $138,000, the inventory is down to a 2.5 month supply.
City Center had its grand opening and is creating a big stir. The Strip project will open in phases this month after more than five years of development and construction. The 500,000-square-foot Crystals opened on 12/10, and the 392-room Mandarin Oriental opens to customers 10/12. Aria, City Center's centerpiece 4,004-room hotel-casino, opens Dec. 16.
Aria will employ 10,000 of the 12,000 employees this should boost the Las Vegas housing market even more, says Stuart Sheinfeld
1. SUPPLY: There are 2.5 months of supply of active listings at current sales rates, the best this figure has been in 5 years
2. DEMAND: Both new and existing home sales totals are near year-long highs.
3. PRICES: Remained relatively stable.
4. Homebuilders are beginning to seek land again.
5. A stalled major commercial project (Tivoli Village) restarted construction.
Foreclosure homes aren't properly maintained and lose value when they sit empty, he said. Banks also incur longer holding costs when they complete the foreclosure process.
Short sales have become better option to foreclosure; they have to be approved by the bank for hardship reasons and usually takes a long time to complete. The bank's red tape can take four to five months for an approval of a short sale.
The $8,000 homebuyer tax credit and the extension of that have boosted the market to record sales for this time of the year. A tax credit of up to $6,500 for current home owners has created a great investment opportunity for most people. Mortgage delinquency rates were highest in Nevada 14% and Florida 12% & the Clark County population hitting the 2 million mark are 2 factors keeping the Las Vegas real estate market hot, says Stuart Shienfeld
The foreclosure Mecca, Las Vegas has experienced home prices at a 50 percent decline from their peak in 2006. The median price of a home there is $138,000, the inventory is down to a 2.5 month supply.
City Center had its grand opening and is creating a big stir. The Strip project will open in phases this month after more than five years of development and construction. The 500,000-square-foot Crystals opened on 12/10, and the 392-room Mandarin Oriental opens to customers 10/12. Aria, City Center's centerpiece 4,004-room hotel-casino, opens Dec. 16.
Aria will employ 10,000 of the 12,000 employees this should boost the Las Vegas housing market even more, says Stuart Sheinfeld
1. SUPPLY: There are 2.5 months of supply of active listings at current sales rates, the best this figure has been in 5 years
2. DEMAND: Both new and existing home sales totals are near year-long highs.
3. PRICES: Remained relatively stable.
4. Homebuilders are beginning to seek land again.
5. A stalled major commercial project (Tivoli Village) restarted construction.
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