Shawn Gibson

Mountains Edge - Las Vegas, Nevada April Market Stats

Below are the April Stats for Mountains Edge - Las Vegas, Nevada.
This is my first of a weekly report on the housing trends in this area.

Mountains Edge April 2010 Market Stats

440 Single Family Homes Available Average Sales Price $168k
1 Condominium Available Average Sales Price $70k
30 Townhomes Available Average Sales Price $97k

Mountains Edge - Las Vegas, Nevada Just Listed & Just Sold

Below are my 3 favorite Just Listed and Just Solds.
I will also be picking these weekly.

Just Listed

$145k 9310 Indian Cane Avenue Las Vegas, Nevada 89178
$189k 10967 Ampus Place Las Vegas, Nevada 89178
$204k 11143 Ash Mountain Street Las Vegas, Nevada 89178

Just Sold

$180k 6563 Mercutio Court Las Vegas, Nevada 89178
$150k 10872 Porto Foxi Street Las Vegas, Nevada 89178
$175k 10619 Fabrica Street Las Vegas, Nevada 89178

If anyone from my door-knocking campaign is reading this, STOP!. It'll be on your doors tomorrow.

Non-Traditional Mortgages available again...

What is a Non-Traditional Morgtage

Are traditional mortgages not availalble to someone you know?

Are you a foreign national?

Do you have a TIN instead of a Social Security Number?

Have you had a recent Bankruptcy, Foreclosure or Short Sale?

Do you have less than perfect credit?

If you have a large down payment and a way to pay back the loan, I have a connection that can fund loans for investment properties, 2nd homes and owner occupied properties

So what's the catch?

35 - 50% down payment with a 12% interest rate.
Also, 8% origination, plus other closing costs...

Here is an example -

Sales Price $190,000
Down Pmt. 40%
Down Pmt. $ 76,000
Origination 8% $9,120
Plus Title/Escrow/other closing costs
Loan Amount $114,000
I/O Payment $1,140.00/month (plus taxes, insurance, HOA)
No Prepayment Penalty.
Interest Only Payment.

Non-owner occupied, note due in 24-36 months
Owner Occupied, note due in 60 months
Call me for details:

Back To The Basics - What Is A Short Sale? Part #2

Please read Back To The Basics - What Is A Short Sale? Part #1

Why Short Sales Work

When homeowners cant make their mortgage payments, lenders don't want to foreclose, and real estate agents are having difficulty finding clients, short sale can be the ultimate win-win-win solution. Especially in the Las Vegas, Nevada market.

Short Sales Benefit Homeowners

Serious financial problems are typically due to unpredictable, uncontrollable events (divorce, health problems, death, job loss, etc.) Adding the trauma of foreclosure to an already stressful life situation can crate an enormous burden for the homeowner.

The process is long and painful-it is embarrassing and demoralizing, and, because it destroys credit, it offers a much bleaker picture of the future for that homeowner.

Although the end result of a short sale is the same as foreclosure (the borrower is going to lose their homes), the short sale process is a great deal less traumatic than the foreclosure process.

Short sale offer the homeowner a great level of control and the ability to maintain dignity and privacy while getting out from under the weight of debt. Borrowers who go through a short sale can also begin planning optimistically for the future because the damage to a borrower's credit will be minimized.

These types of losses are also viewed more favorably be lenders and business associates in the future because the borrower responsibly worked out an agreement with the lender and did not simply walk away from his or her creditor.

Source: The Five Star Institute

Las Vegas Nevada - Clark County Garage Sales #1

In our large Vegas community we all share. That's why I will provide a list of garage sales going on around the Las Vegas Valley at least once a week.

West Valley Community Sale
Saturday 5-1-2010
6300 West Tropicana
Las Vegas, Nevada 89103

Moving Sale
4-26 - 4-28
270 Solicito Area
Las Vegas, Nevada 89110

All Week Moving Sale
4-26 - 5-2
1292 Lynnewood Street
Boulder City, Nevada 89005

Garage Sale
5-1-2010 9am - 3pm
5026 Suede Circle
North Las Vegas, Nevada 89031

For more information, please visit www.sgsellsvegas.net and request your free Short Sale Guide. Or visit my eNewsletter for up to the minute market information.

Back To The Basics - What Is A Short Sale?

With the new HAFA Laws finally taking affect, it may be months before we see how these changes will impact the market. Will banks honor the 45 days they say would be enough time to complete a short sale? Are they really interested in helping the housing market recover, RIGHT NOW?

Regardless of the outcome, I think that short sales are and will always be an option for most sellers. But enough about that. Most sellers are confused and that is why they decided to walk away from their homes instead of exploring other options. So let's get "Back To The Basics - What Is A Short Sale?"

What is a Short Sale?

A short sale occurs when a lender allows the borrower to sell the property to a third party for less than the total amount due on a mortgage. Lenders are motivated to agree to a short sale when they have analyzed the situation and are convinced that the losses related to a short sale are less than those that will occur.

Who Are The Best Candidates For A Short Sale?

The decelerating housing market makes short sales a hood option for the majority of home owners facing the potential of foreclosure. Borrowers who can demonstrate hardship that has significantly impacted their ability to make their mortgage payments, who have few or no assets and whose mortgage debt exceed the value of the property are the best candidates.

For more information, please visit www.sgsellsvegas.net and request your free Short Sale Guide. Or visit my eNewsletter for up to the minute market information.