Since I have been attracting alot of Canadians to my Las Vegas Real Estate links, the number 1 question I get in my first discussion is "Do you have loans available for Canadian Buyers in Las Vegas?"
The Answer is Yes! We can do loans here, for Canadian Buyers. Here are the Options:
1. If you are a Canadian Citizen you can declare your Las Vegas Property you buy as a second home. The down payment would be 35%.
2. If a Canadian Citizen has business dealings in Las Vegas, they may be able to establish permanent residency or there are other future citizen options in play here. The loan for "Second Home" is slightly higher in rate, perhaps mid to upper 5's because of a United States/Canadian Reciprocity Agreement with and the liability to the bank in case they have to retrieve it back.
3. The other possibility is 40% down and do hard money for a year then establish and refinance. (But option 1 looks like a better option because it's 30 years)
Each Buyers situation is different and I'm not that well versed about home financing, but I have experts who are. I just want to let you all know that we do have financing here in Las Vegas for Canadians. If you would like to know more, respond to this blog, or shoot me an e-mail, or give me a call or send me a text and I'll put you in touch with the right person to answer your questions.
Dear Readers,
So far, we have been very busy in 2011. Home prices have pretty much stabilized and have even gone up in some parts of the Las Vegas Valley. You can read more about this phenomenon in an article written by Hubble Smith in the Las Vegas Review Journal entitled:
Parts of the Las Vegas Valley see Home Prices Improve in 2010
So here is my Shadow Inventory Story and I'm sticking to it!
Many are under the impression that we are going to get multitude of homes in the Las Vegas Valley dumped onto the market that fall under the Shadow Inventory category, causing the market to go lower. Not true! Most are under the impression, that this inventory is defined by lenders (Banks and Loan Servicing Companies) that are holding onto foreclosures and not putting them on the market until there is a turn-around. This is not totally true!
Banks and Loan Servicing Companies tend to get these sellable properties off their books as quickly as possible to maintain an acceptable balance sheet. There are other factors that may cause lenders to have to hang onto foreclosed properties such as title issues, illegal sales, loan origination problems, renter conflicts, trashed and destroyed homes. These are issues that make the home unsellable until they are dealt with by the seller.
A good share of the Shadow Inventory that exists out there today is owned by groups of investors who purchased a bulk quantity of sellable homes from a lender because there were so many that came so fast, the lender needed to liquidate them and get the cash. Today, many of these homes have been or are in the process of being cleaned up for resale or rented out to, you guessed it, people who have been foreclosed on or people that have historically lived in apartments. That is a huge market today! As a general rule, these investor groups know that the Return on Investment will be slow, but based on what the low bulk price they purchased these homes for, they should be able to collect enough rent to get them to cash flow for a few years and the demand goes up.
So where is the demand going to come from?? A Theory!
Beginning on January 1st of this year, 10,000 Baby Boomers per day started retiring in the United States. That will continue for the next 19 years. Many of the homes I have sold, so far, this year have been to Baby Boomers and they are paying cash. You may ask! Why Las Vegas? Most popular answer: LOW Taxes and LOW Home prices. And so the cycle starts again.
Top 5 Informational Links that I think you should know about:
I have more Resource Links below for your reading pleasure!
Make it a GREAT Week!
I would like to invite you to join Siena in Summerlin Las Vegas on Facebook.
This page was created, on the Facebook Social Network for followers (resident or non-resident) that enjoy sharing positive views about living and/or visiting this beautiful Active Adult Community, post content and/or pictures of family or activities that they have participated in, access updated content and posts and learn about great deals available in and around Siena in Summerlin Las Vegas. Examples of content will include links to:
I created this page, as a free community network service, on the Facebook Social Network. In order to gain access, you have to have a FREE Facebook Account. In order to sign up, click here.
Once you are logged in, type Siena in Summerlin Las Vegas in the search area and you will be taken to the community page. If the content is valuable to you, click on the THUMBS UP LIKE button on the page and you will receive updates, on your account page, as they are posted.
I hope you enjoy the beginning of Siena in Summerlin Las Vegas page on Facebook. The value and impact of this page to the Siena in Summerlin Las Vegas Facebook Community and its followers will be established by the creativity of those who participate in a positive way. I look forward to it.
Make it a GREAT Week!
I would like to introduce you to the Best Active Adult Living Community in the Las Vegas Valley. The name of this Community is Siena in Summerlin, a Master Planned Community located 12 miles West of the Las Vegas Strip. Siena also happens to be the Community that John & I have lived in for the past 9 years.
Now, you may think I'm being biased. I am! I show and sell Real Estate all over the Las Vegas Valley and here's why Siena stands out against the other Active Adult Living Communities.
There are currently 88 homes (4% of the total) that are for sale in the Siena Community. Here are the current listings for Siena.
I would like to "Help You Find Your Way Home in the Las Vegas Valley". Please call me if I can help!
If you currently living in Siena and are considering selling your home, please fill out this form and I will, send you what I think your home is worth, in strict confidence, without calling you. After receiving my information, I'll leave it up to you to call me if you are interested in discussing further.
Make it a GREAT Week!
First off! John & I would like to wish you all a Happy New Year for 2011.We are already beginning to see an improvement in the economy reflected in the article this week by Buck Wargo in the Las Vegas Sun.
Report: Economy to see slight improvements through 2012
Another good sign is the amount of calls that we receiving from Baby Boomers, who we have been sending information to during the past 5 years, that have made appointments and are ready to come out and purchase a property.
Beginning yesterday, 10,000 Baby Boomers will begin retiring each day over the next 19 years in the United States. Nevada's tax friendly environment and excellent climate combined with home prices that are down to 2002-03 levels will make the Las Vegas Valley an attractive place to live on a part time or full time basis.
For more information, visit my Las Vegas Active Adult Living page at MaryKennedyLasVegas.com and if you want me to send you resource information on "How to Select the Best Retirement Community for You", just let me know and I'll drop you an e-mail with a PDF attachment.
As always, I appreciate your support in reading this e-newsletter during the past year. Many of you have passed them along to others that may have an interest in living, working and/or retiring in the Las Vegas Valley and I appreciate it. If there is anything more I can do to help you or others that you know that may be interested, please feel free to contact me at anytime.
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I'm here to help you, whether to offer expert advice and market information on listing and selling your house, or assisting you as you find and purchase the home of your dreams. My goal is to create the ultimate buying and/or selling experience for my clients. Please take a moment to read my thoughts on the state of the Las Vegas Real Estate market from someone who works in the trenches.
To get in touch with me, give me a call toll free at 877-300-5390 or locally in Las Vegas at 702-324-5390. It will be my pleasure to answer any questions about the FAST GROWING LAS VEGAS VALLEY REAL ESTATE MARKET.
Mary has been helping people buy and sell homes since 2004. She is member of the the number 1 RE/MAX Sales Team in the United States, and carries the Certified Distressed Property Expert Designation. She became a Realtor because she enjoys the work, and understands that every clients situation is different. With the support of her husband and two grown children, she is able to maintain a balanced life between her family and her career. Her energy, enthusiasm and professionalism are the qualities that clearly set her apart. She is positive, motivated and trustworthy. There are no unanswered questions when working with Mary. She provides custom, personalized service for her customers and is willing to go the extra mile.
The Mary Kennedy Team believes in using todays Internet technology to it's fullest extent. We are currently focusing our social networking efforts and can be followed on
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