Video transcript: Discounts gained by buying Las Vegas short sale homes for sale

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This is video transcript of do Las Vegas short sales homes provide for big discounts? This is the fourth video in the Las Vegas short sales homes, condos buyer guide series. In the last 3 videos we discussed: The 3 different ways of buying Las Vegas short sale homes, condos or high-rise condominiums that are listed in the Las Vegas MLS. Why do buyers and real estate investors make offers on them and how long does it take to close short sale deals? In this video, we will discuss the discount gained through buying short sales. As we mentioned Masoud spent about 8 days and analyzed all of the 177 Greater Las Vegas short sales homes that sold or closed escrow in February 2015. What we talk about is the …

Las Vegas foreclosures HOA investors lose again-real estate

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Las Vegas, Nevada real estate investors who purchased HOA liens in real estate auctions and took advantage of the HOA lien super priority status to extinguish first and subsequent mortgages in order to purchase foreclosed homes at bargain prices have suffered another legal setback. In a 2-1 decision, the 9th Circuit court has ruled that Nevada law requiring mortgage lenders to be alerted of a foreclosure by a homeowners association only if the lender had requested notice is unconstitutional. The panel said the requirement of an “opt-in” request is a violation of the 14th Amendment requiring due process. Now Nevada Supreme Court has to take up the case again and if this ruling is upheld it can nullify the sales so these homes would go back to the foreclosure process …

Nevada Supreme Court ruling on HOA fees guide

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Nevada Supreme Court ruled that only nine months of delinquent HOA payments can be included in super priority lien status. Nevada Supreme Court HOA ruling is in favor of banks and distressed property buyers from Nevada Trustee Sale real estate Auction where the act of foreclosing on properties takes place. Home Owner Associations (HOA), and especially collection agencies who charged exuberant amounts in collection fees in addition to delinquent HOA fees. Needless to say, this problem led to many lawsuits and Nevada Legislation reacted by passing a bill in 2015 to fix this and while keeping the HOA fees in Super priority status modified how HOAS have to contact first lien holders and reduced collection fees and other charges to about $1350. Other important changes: A first lien holder now …

Do Las Vegas short sale homes sell for big discounts? Video

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This is the fourth post in the Las Vegas Short Sale homes and condos for sale, buyer’s guide series. In this video, we will talk about where the largest discounts can be found and also what types of Las Vegas short sale homes sell for lowest discounts. First, we talk about the correct definitions of different categories of property condition and show that about half of all short sale homes were in fair or poor condition. We break down and show discounts gained from buying short sale homes by price range and type, like combination bankruptcy or probate short sales homes and auction short sales. Please watch in full-screen mode, the video will automatically play in HD Please find the video transcript of do Las Vegas short sales provide for big discounts here …

Why do buyers make offers on and buy Las Vegas short sales? Video

Masoud Saberzadeh Las Vegas Foreclosures and Short Sales Blogs, Las Vegas Homes and Condos Blogs 0 Comments

Buying Las Vegas short sales is not an easy process and they don’t offer the discounts that they used to, then why do buyers make offers on and buy Las Vegas short sales? This is the third video in Comprehensive Guide to Buy Las Vegas Short Sales. In the first video, we talked about the different ways of buying short sales that are listed in the Las Vegas MLS. They are approved and unapproved short sales and short sales that sell through online auctions. In the last video, we also talked about how long does it take to close Las Vegas short sales deals? And in the next video discounts gained by buying Las Vegas short sales homes for sale, we will show you that about half of the buyers have gained less …

How long is escrow time for Las Vegas short sale homes, condos? Video

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The length of the escrow time for Las Vegas short sale homes, condos depend on the type of short sale Escrow time for Las Vegas short sale homes, condos varies and it could take up to a year to get an approval. Given that lenders counter the buyer’s offer at the approval time, in quickly appreciating markets long waits can lead to the bank countering at much higher prices than when the offer was made. So it is important to have an idea about how long escrow time is. It is customary to open escrow and deposit the EMD when an offer is accepted by the seller. However, when the short sale is fully approved by the lender, the deal is consummated and escrow is closed. In this video, we …

Las Vegas short sales homes and condos buyer’s guide-Video

Masoud Saberzadeh Las Vegas Foreclosures and Short Sales Blogs, Las Vegas Homes and Condos Blogs 0 Comments

The difference between approved, un-approved Las Vegas short sales, auction short sales and Las Vegas foreclosures Las Vegas short sales are the most misunderstood type of real estate deals and many Las Vegas homes, condos or high-rise condominium buyers or their Realtors do not really have a good understanding of the process, let alone were to look for the highest discounts or how to avoid the short sale trap. Additionally there has been much talk about pre-approved short sales or how the process has become streamlined which is absolutely not true. So we have decided to do a series of blog and videos about the subject. In this first video we discuss the three different ways to buy Las Vegas, Henderson and North Las Vegas short sale homes, condos and …

Las Vegas foreclosure homes and condos buyer’s guide

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What it takes to get a good deal on Las Vegas foreclosure homes and condos While Las Vegas foreclosure homes and condos provide for some of the best deals, this is not true about all bank owned homes that are listed in the Las Vegas MLS. Actually if you make a full price offer on a Fannie Mae or Freddie Mac  foreclosed home or condo that is just listed in the MLS, I can pretty much guarantee that you have paid 15%-20% more than the current market value based on comparable properties or comps. But then again if you buy a HUD Home listing that is just listed in the greater Las Vegas MLS, you have paid close to the market value, it all depends. We have been talking about …

Shrinking inventory of Las Vegas short sale listings in MLS

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Inventory of Las Vegas short sale listings in Las Vegas MLS will not increase until Congress reinstates The Mortgage Forgiveness Debt Relief Act In this video we talk about the reasons for the shrinking inventory of Las Vegas short sale listings in the MLS. We will talk about: 1: The effect of the expiration of the Mortgage Forgiveness Debt Relief in December 2013 on the inventory of Las Vegas short sale listings in Las Vegas MLS. 2: Change in the bank’s policy in regard to when they price a short sale listing at the time of approval which ended up costing short sale buyers 3: Banks are doing all they can to postpone foreclosing on delinquent Las Vegas homes or condos. Some homeowners have been living in their residence without …

Shrinking effect of foreclosures on Las Vegas real estate market

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The effect of Las Vegas foreclosures on Las Vegas real estate housing market is minimal The market share of Las Vegas foreclosures has dropped to 9.1% of all sales and their effect on Las Vegas real estate market keeps shrinking. 291 out of the 3196 Las Vegas homes, condos and town-homes sold in July, 2014 have been Las Vegas foreclosures or bank owned homes, condos and townhomes. In this video we discuss why assembly bill 300, which made it far easier for banks to at least start the foreclosure process, has failed to produce the avalanche of foreclosures hitting the Las Vegas real estate market? The source of bank owned listings in Las Vegas MLs is the listings that have failed to sell at the Las Vegas Trustee sale real …