Yonas Woldu Greater Las Vegas Real Estate

Homeowners and investment property owners in Las Vegas can breathe a tentative sigh of relief, following the news that the pace of foreclosures in the US has dropped. The decline comes after revelations that thousands of foreclosure documents may have been improperly prepared.

RealtyTrac reported on Wednesday that in December, U.S. foreclosure filings were down 26% from December 2009. This drop was the biggest in at least five years. Lenders and mortgage servicers imposed delays on foreclosure processes in October, after reports in September that some servicers did not follow legal procedures in tens of thousands of foreclosures.

Although mortgage servicers say they’re resuming stalled foreclosures, RealtyTrac estimates that up to 250,000 cases may have been delayed by the controversy. According to RealtyTrac CEO James Saccacio, those foreclosures may be restarted and added to the numbers in early 2011.

The Department of Justice and the state attorneys general are investigating. “Lenders have been spanked. They’re spending money to make sure every ‘i’ is dotted and every ‘t’ is crossed,” says Christopher Thornberg, of Beacon Economics. He believes the pace of foreclosures “will pick back up.”

In addition to taking longer to make sure paperwork is correct, companies may be slowing foreclosures so that they don’t glut the market with homes for sale, which would depress prices, says Patrick Butler, head of asset disposition for Foreclosure.com. They may also be delaying foreclosures to avoid the cost of maintaining properties while others remain unsold, Butler says.

In December, bank repossessions nationwide totaled 69,847, down 24% from December 2009.

For the year, almost 2.9 million U.S. properties received foreclosure filings, a record high, and up 2% from 2009. Nationwide, one of every 45 homes received at least one foreclosure filing during the year.

I am Yonas Woldu. I can help you find the perfect home or investment property in Las Vegas, or anywhere in Clark County. For the personalized attention you want with selling or buying property in Las Vegas, Green Valley, or other areas of Clark County, contact me today. I am committed to working with you; I will do the legwork, finding the perfect investment property for you. I am dedicated to helping you in every way possible.

Information from the National Association of Realtors holds great news for Las Vegas home owners. According to a recent NAR report, pending home sales rose again in November, with the broad trend over the past five months indicating a gradual recovery in 2011. The Pending Home Sales Index, a forward-looking indicator, rose 3.5% based on contracts signed in November. The data reflects contracts, not closings, which normally occur with a lag time of one or two months.

NAR Chief Economist Lawrence Yun noted that high housing affordability is boosting sales activity. “In addition to exceptional affordability conditions, steady improvements in the economy are helping bring buyers into the market,” he said. “But further gains are needed to reach normal levels of sales activity.” In the West, pending home sales jumped 18.2%, which is is 0.4% above a year ago.

“If we add two million jobs as expected in 2011, and mortgage rates rise only moderately, we should see existing-home sales rise to a higher, sustainable volume,” Yun said. “Credit remains tight, but if lenders return to more normal, safe underwriting standards for creditworthy buyers, there would be a bigger boost to the housing market and spillover benefits for the broader economy.” The 30-year fixed-rate mortgage is forecast to rise gradually to 5.3% around the end of 2011; at the same time, unemployment should drop to 9.2%.

Existing-home sales are projected to rise about 8% to 5.2 million in 2011 (from 4.8 million in 2010), with an additional gain of 4% in 2012. The median existing-home price could rise 0.6% to $173,700 in 2011 from $172,700 in 2010, which was essentially unchanged from 2009.

“As we gradually work off the excess housing inventory, supply levels will eventually come more in-line with historic averages, and could allow home prices to rise modestly in the range of 2% to 3% in 2012,” Yun said. New-home sales are estimated to rise 24% to 392,000 in 2011, but would remain well below historic averages, while housing starts are forecast to rise 21% to 716,000.

I am Yonas Woldu, and I can help you find the perfect home or investment property in Las Vegas – or anywhere in Clark County. For the personalized attention you want with selling or buying property in Las Vegas, Green Valley, or other areas of Clark County, contact me today. I am committed to working with you; I will do the legwork, finding the perfect investment property for you. As investment in Las Vegas property continues to gain attractiveness, you will find that I am dedicated to helping you in every way possible.

As the cost of oil continues to rise, many Las Vegas homeowners and tenants are using space heaters, wood stoves, and other supplementary heating sources to offset their skyrocketing heating bills. According to the Insurance Information Institute, improper use of these alternative heating sources can create an increased risk of fire.

The most recent statistics available are from 2008, and they show that heating equipment was involved in approximately 66,100 home structure fires, 480 deaths, and 1,660 injuries. Improperly used heating equipment caused direct property damage of $1.1 billion. Fixed and portable space heaters, including wood stoves, were involved in 25% of the heating fires, but resulted in 74% of the fatalities.

As a property owner, it's essential that your family and/or your tenants are aware of proper use of these adjunct heating sources. The biggest mistake people make with space heaters is placing them too close to flammable materials such as bedspreads, draperies, upholstery, or clothing. Space heaters need at least three feet of clearance from anything that can burn. Here are some key portable heater safety tips:

• Make sure any new space heater carries the mark of an independent testing laboratory.

• Always turn space heaters off when you leave a room, or go to bed.

• If you use an electric heater, do not overload the circuit.

• If you must use an extension cord (and it is better not to), choose one that is the same size or larger than the appliance cord.

• Do not use electric heaters in bathrooms, or other areas where they may come in contact with water; the danger of electrocution is too great.

• If you use a kerosene heater, burn only kerosene. Gasoline, camp stove fuel, or any other fuel except kerosene can be extremely dangerous if used in a kerosene heater. Make sure your kerosene is water-clear, not yellow. Refuel the heater outdoors.

• When turning a portable heating device on or off, follow the manufacturer’s instructions. If possible, buy devices with automatic shutoff features.

I am Yonas Woldu, and I am prepared to help you find your perfect home in a terrific Las Vegas neighborhood – or anywhere in Clark County. For the best in personalized attention when selling or buying property in Las Vegas, Green Valley, or other areas of Clark County, contact me today. Be sure to visit my Vegas Real Property website – I am dedicated to helping you in any way possible.

With Christmas coming this weekend, Las Vegas homeowners are busily involved in decorations and last-minute shopping, excited to share holiday cheer with loved ones. But thieves and vandals also have something to look forward to during the holiday season. Cars and homes filled with easy-to-grab boxed goodies, and lawns decked out in the best of their holiday finery, make tempting targets for predators. To help you make sure the naughties don’t ruin Christmas for the nice, here are a few tips for protecting your home.

Keep your “check-ins” in check.

It's neither necessary nor wise to announce to all of your Facebook “friends” that you're leaving town, or that you just received an expensive gift. In fact, users of social networking sites should generally avoid posting where they are and what they're doing in any but the most general terms. These contacts aren't – for the most part – your “friends;” you likely have never met, and will never meet them. If personal information about your holiday happenings falls into the wrong hands, the consequences could be disastrous.

Take steps to protect yourself:

• Don’t make comments on social networking sites about gifts you've bought or received.

• Don’t check-in online (via full-spectrum sites like Facebook, Twitter or MySpace) when you’re out of town.

• Limit the information you share to friends and family by only accepting people you know as friends and followers.

Remember to lock your door.

According to security company ADT, 40% of all burglaries are termed as “no-force entries.” That means the predators gain entry through unlocked doors and windows. Double-check yourself to ensure that all doors and windows are locked, and that your deadbolt (if you have one) works properly.

Don’t give vandals a chance to act.

Destruction of holiday displays and lights are an all-to-frequent occurrence during the holidays. There are individuals (and not always teenagers!) who may think it's fun to wreak havoc on your painstakingly planned and executed winter wonderland. Some acts of vandalism are premeditated and some are spur of the moment, but both can leave you with expensive property damage and a ruined holiday. Protect yourself by installing motion detectors on all sides of your house; if possible make sure they're visible from the road.

Deny easy access to the garage.

It’s convenient to keep the garage door opener in the car for easy access. It’s also just the kind of thing for which observant criminals are looking.

Take steps to protect yourself:

• Never leave your garage door opener in your car.

• Always make sure your garage door is closed and locked, with the inside door secure.

• Don’t tempt fate – try to avoid using the garage as a hiding place for gifts.

Display the tree, not the gifts.

Many homeowners don't consider the holiday complete without their Christmas tree, all done up with lights, ornaments, and beautifully wrapped gifts, displayed in front of the living room window. The problem? Thieves and vandals consider this scene to be an open invitation.

Take steps to protect yourself:

• Don’t put out your gifts until Christmas Eve.

• Dispose of product boxes at a recycling center, not your garbage cans.

All it takes is one thief’s determination to potentially ruin your Las Vegas holiday season; a little thought and preparation will go a long way to ensure that your holidays stay bright and hassle-free. I am Yonas Woldu, and I am prepared to help you find your perfect home in a terrific Las Vegas neighborhood – or anywhere in Clark County. For the personalized attention you want when selling or buying property in Las Vegas, Green Valley, or other areas of Clark County, contact me today. Be sure to visit my Vegas Real Property website – I am dedicated to helping you in any way possible.

Thinking about using holiday lights to decorate your fabulous Las Vegas investment property – or the home in which you're living? You can cut your holiday lighting bill by up to 90% by converting energy-efficient LED lights!

Over the course of a holiday season, the bill for a string of traditional lights can average up to $70, compared to less than 50 cents for a string of LED lights. Many states offer rebates for consumers who elect to use LED lights – check the packaging of the lights you buy to see if a rebate is involved.

LED lights produce almost no heat, making them safe to touch and greatly reducing the risk of fire. They're also shatterproof and completely insulated, meaning no shocks when touched. If you're planning to use lights to make your property more festive, be sure to follow these important safety tips:

• Avoid a possibly fatal error – never place yourself (or any object, including ladders) in a position where you or it may come in contact with a power line. Stay at least 10 feet away from overhead lines.

• Although outdoor lights can be used indoors, the reverse is not true – never use indoor lights outdoors.

• Follow the manufacturer’s limits for the number of light strings that can be connected together safely.

• Check all light strands for cracked or broken plugs, frayed insulation, or bare wires. Worn cords can cause fires, so discard damaged sets of lights.

• Always turn off decorative lights—indoors and outdoors—when leaving the house and before going to bed.

Las Vegas is a great place to live year 'round, but the holidays here are absolutely magical! I am Yonas Woldu, and I am prepared to help you find your perfect home in a terrific Las Vegas neighborhood – or anywhere in Clark County. For the personalized attention you want when selling or buying property in Las Vegas, Green Valley, or other areas of Clark County, contact me today. Be sure to visit my Vegas Real Property website – I am dedicated to helping you in any way possible.