Las Vegas Properties Blog

Summerlin Beauty $120K Under Value!

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Beautiful Short Sale in Summerlin!  This home features a beautiful Pool, Spa, and custom features thoughout.  It is situated on a large corner lot in the popular community of Summerlin….close to schools, shopping, houses of worship, Red Rock Canyon and all of Summerlin’s community activities.

SHORT SALE!

The Seller is offering this beautiful 4 bedroom home for less than what he paid!  This is a “Short Sale” transaction.  If you are interested in learning how a Short Sale works, and how you can purchase beautiful home in Las Vegas for much less than market value, call us today at 1-888-876-8383 or 702-379-6627.  Or, email Las Vegas Properties at terrilvp@cox.net.

Palms Place Luxury Condo For Sale!        

Palms Place is the success story of the Las Vegas luxury condominium market.  If you would like to become part of the “lifestyes of the rich and famous” in Las Vegas, you can purchase this beautiful 1,200 square foot Palms Place condo that is listed at $775,000.  Many residents are celebrities, while some are local and international buyers who were looking for a Las Vegas vacation home or Las Vegas investment property.

Maloof Brothers Succeed at Palms Place!

Several Las Vegas luxury condo projects have been postponed or have cancelled, but the Maloof brothers seem to have what the luxury condo market requires — a celebrity audience, upscale amenities, name recognition and the financial ability to have built this beautiful property and opened on time.  The 47-story luxury high rise features 599 suites, and is attached to the famous Palms Casino by an enclosed, elevated “SkyTube” that moves residents to and from their condos on moving walkways. Read the rest of this entry

FHA LOANS POPULAR

For the past several years, Las Vegas homebuyers have purchased most homes with conventional loan programs.  That has changed recently, and the FHA mortgages are the most popular loan programs being written by Las Vegas mortgage brokers and bankers.  The federal government has placed great emphasis on the FHA loans and hopes that these loans will help bring new life to the current real estate market.

Las Vegas is a great target for FHA borrowers.  Since home prices have decreased during the past 2 years, as FHA limits have increased, many homebuyers find these loan programs to be their ideal solution. 

The way that FHA loans works is:  FHA insures loans that are originated by approved lenders.  FHA does not purchase loans.  If a FHA insured loan become delinquent, FHA pays off the mortgage to the lender, takes ownership of the home and then sells it as a HUD home.

TYPES OF FHA LOANS

Fha loans are available for purchasing or single family, duplex, triplex or fourplex properties that are owner occupied homes.  The increase in FHA limits have made these loans more popular.  For example, the new limit for single family FHA loans in Clark County, Nevada is $400,512; the limit for a fourplex in Clark County is now $769,250. 

Other changes in FHA loans involve the concessions that are allowed by the Seller of a property.  Sellers can still contribute up to 6% of the loan amount, but down payment assistance from Sellers has been eliminated.  So, a Buyer must have a down payment of at least 3.5% for a FHA loan, effective January, 2009.  There are other underwriting qualifying standards, as with other loan programs.  It is important to deal with an approved and experienced FHA lender. Details about FHA loans can be found at www.hud.gov.  Las Vegas has many FHA approved lenders; if you would like a list of them, contact Las Vegas Properties at 1-888-876-8383 or email terrilvp@cox.net.  Read the rest of this entry