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August 2012

New Short Sale Guidelines for Fannie Mae & Freddie Mac

On August 21st a news release was issued by the Federal Housing Finance Agency (FHFA) providing new standard guidelines for Fannie Mae (FNMA) and Freddie Mac (FHLMC) short sales. Download The FHFA NEWS Release on Short sales 82112 Starting on November 1, 2012, Fannie Mae and Freddie Mac will ease the rules to speed up the short sale process on the loans they guarantee, even for borrowers still current on their mortgage. One of the positives - homeowners could enter a short sale while current on their mortgage payments, but only with hardship reasons of: • Death • Divorce (legal... Read more →

Buying a HUD home in the Las Vegas area is definitely another primary residen ce or investment alternative. FHA loans have increased dramatically over the past couple of years due to the decreasing prices of Las Vegas Homes. Therefore, expect to see the number of HUD homes available to increase. What is a HUD Home? When a homeowner with a Federal Housing Administration (FHA) insured mortgage can't meet the payments, the lender forecloses on the home; FHA pays the lender what is owed; and then the United States Department of Housing and Urban Development (HUD) takes ownership of the home.... Read more →

Short Sales continue to be a major sector of the Las Vegas Real Estate Market and all signs point to this not subsiding any time soon. This post is provided to outline the variety of recommended training and certification courses available to real estate agents in Las Vegas. Realty ONE Group Continuing Education Classes (Check for specific classes, dates, times and locations): Foreclosure For Sale! NEW CE Class (General) CE#5457000 The latest statistics on foreclosures in Clark county and nation wide. Discussion on AB284 and the effect on inventory. Options for the homeowner, Judicial Foreclosures, Nevada mediation will be... Read more →

Create a Powerful Referral System with these 7 Action Steps

SOI/ Past Client Referral System There are 3 basic reasons why many agents fail to conquer the most important real estate system to implement – your Sphere of Influence (SOI) and Past Client Referral System. They never decide on a contact management or software solution. If they have a solution, they don’t enter the contacts, sort and categorize them. They over-analyze or never decide what to do or send out each month – thus, ultimately doing nothing for months on end. So, let’s break it down step-by-step, get this critical system in place and generating business and referrals immediately. The... Read more →