“Is this house for rent?” 

At least once a week I get a phone call from someone who drove by one of my listings and wants to know if the house is for rent.  My answer is always, “No, the house is for sale.”  As the conversation develops I find out that the caller is being evicted from their current house because the bank took it back from the landlord.  The same landlord that had been collecting rent for the last 6 or 7 months without paying their home mortgage.  The same landlord that forgot to tell anyone else who mattered.

Kicked to the Curb 

The renter is simply blindsided.  Someone posts a notice at the house giving the renter as little as a week and as much as a month to move out or they will be evicted … kicked to the curb.  Yet another victim of “foreclosure” or ”the credit crunch” or “mortgage crisis” or ”real estate bubble” or ”insert-your-favorite-phase-here”… and they didn’t even own a home.

How to Find Out if a Las Vegas Home is in Foreclosure Online

In reaction to this preventable and exasperating situation I decided to put together a tutorial to help anyone find out if a home is going into foreclosure in Las Vegas.  This video demonstrates how to use the Internet to look up foreclosure information in Clark County, NV with as little as a property address.  Please watch it and pass it on.  I know that it will help a lot of people.

Featured blog post links:  

• Clark County Assessor’s Office
• Clark County Recorder’s Office
• Google Video:  How to Find Out if a Las Vegas Home is in Foreclosure

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Dunkin Donuts is invading North Las Vegas and all of the recent transplants from back east just couldn’t be happier. According to some, many of us Westerners and Nevadans just don’t know our donuts. To them, Krispy Kreme donuts are bad and Dunkin Donuts are not just good, they are nirvana. Of course, from my perspective as a native Westerner and Nevadan, it looks like to me like they are just pushing some sort of legal addiction.

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Las Vegans look around you. In many neighborhoods you could throw a boomerang and it will fly by several for sale signs before it comes back to you. Do one of those for sale signs belong to you? If yes, then there is a 1 in 5 chance that you are selling your home as a short sale.

Can Homeowners Afford to Sell Their Homes As a Short Sale?

Sellers of short sale properties have a lot of details to keep track of just to get their home sold. In a normal market a Seller typically has the luxury of just trying to keep their house clean for potential buyers. Today, many Sellers who are stuck doing a short sale find that a presentable home is the least of their concerns. They are faced with the prospect of working with their lender(s) to literally “qualify” to sell their home at a loss, which is no small task. In addition, until only recently short sale Sellers had another scary prospect to add to their nightmare…income taxes. Since the IRS considered the net loss on the sale of the home as income, short sale Sellers weren’t sure if they could afford the sale of their home. Why? If they didn’t already have the money to cover the financial loss when the house sells, many won’t have the money to pay the consequential taxes later.

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With the proliferation of distressed home sellers in the Las Vegas real estate market REALTORS® are adjusting to a new reality — a buyer’s market. Is this really new news? Las Vegas REALTORS® have had since spring 2006 to adjust so what in the market is “new” to them? In the simplest terms, SHORT SALES.

FACT:
In the Las Vegas Valley 1 in 5 homes for sale are now Short Sales.

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