If you see nothing but doom and gloom in today’s frothy housing market, some industry experts have a message for you: Buck up.
Housing
A new report reveals Nevada was one of the worst states for flipping activity in the first six months of 2013. Investors in Nevada flipped 2,932 homes from January to June, a 34 percent decline compared with the first six months of 2012.
CARSON CITY — A sale of federally owned land in the Las Vegas area is signaling a positive turn for the region’s beleaguered housing market and economy that collapsed amid the Great Recession.
North Las Vegas has embraced a controversial program that would use its power of eminent domain to seize underwater mortgages, pay the investors only what the property is now worth and then let other investors write new mortgages with terms more favorable to the homeowners.
Forget rising home prices. These days, home buyers are obsessing over higher interest rates. So much so that rising rates have catapulted past price gains as the No. 1 worry among consumers, according to a June survey by real estate website Trulia. And 56 percent of buyers told Trulia that they would rethink buying if rates hit 6 percent.
Statistics being released today by the Greater Las Vegas Association of Realtors show existing home prices continuing to rise as the supply of houses available for sale also increased.
Zappos.com CEO and Downtown Project head Tony Hsieh has purchased another downtown property — a small motel and a dozen apartment units near the east end of Fremont Street, a commercial real estate broker said Tuesday.
Nevada again is setting the pace for national home price increase, a new report says. Prices rose 26 percent in Nevada to lead all states. The Silver State was followed by California (20.2 percent), Arizona (16.9 percent), Hawaii (16.1 percent) and Oregon (15.5 percent). They fell only in Delaware and Alabama. And all but three of the 100 largest cities reported price gains.
Southern Nevada’s land market is bouncing back from the downturn, with sales and prices on the rise.
A plan to leverage the city of North Las Vegas’ power of eminent domain to seize underwater mortgages and sell them back to homeowners at a lower price is seen as a financial lifeline for some desperate residents.
WASHINGTON — Consumers and companies are starting to act as if the economic expansion is here to stay.
WASHINGTON — A bipartisan group of senators including Dean Heller of Nevada on Tuesday proposed an overhaul to the housing finance system that would gradually eliminate Fannie Mae and Freddie Mac, the two government-sponsored mortgage guarantee giants, and shift more mortgage and credit risk to the private sector.
Nevada Attorney General Catherine Cortez Masto said a report released Wednesday by the monitor of the National Mortgage Settlement shows that more work needs to be done by the largest U.S. mortgage servicers, who are failing to comply with several key aspects of the settlement designed to regulate how struggling homeowners are treated.
If you’ve ever wanted to use affordable real estate as a recruiting hook, a new study gives you fresh fodder.
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