Overcoming economic survivor guilt A year after the meltdowns of the banking and housing industries, an unseen by-product of the financial crisis has crept into the American society: the economic survivor guilt, the news organization USA Today reported. Simply put, the economic survivor guilt is the uneasy feeling of “capitalizing off of somebody else’s misfortune.” [...]
Foreclosures could be lessened by short sales One way to reduce the number of foreclosures is by increasing the short sales, this according to the president of HBN Interactive Duane LeGate. In Las Vegas where foreclosure is at its height, increase in short sales could lead to fewer foreclosures. A short sale is a transaction [...]
First-time home buyers hurries to avail tax credit As the expiration of the $8,000 tax credit draws near, first-time home buyers are scrambling to qualify, this according to Las Vegas Review-Journal. Dec. 1 of this year is the expiration of the Federal government’s $8,000 tax credit for first-time home buyers. Although the expiry date is [...]
July home sales mostly foreclosure resales About 70 percent of the homes resold in Las Vegas area for the month of July were homes that had been foreclosed in the last 12 months, this according to DataQuick. DataQuick also reported that for the month of June, close to 70 percent of the homes resold in [...]
Nevada foreclosure activity decreases by 8% Foreclosure activity in August in Nevada may have plunged a few percent, but Nevada still posted the nation’s highest number of foreclosure filing, this according to data aggregator RealtryTrac. According to Las Vegas-based SalesTraq, there is a continuous supply of home repos on the Las Vegas real estate market. [...]
Buyers turn to new homes Even as foreclosure sales persist to pull down the median home price in Las Vegas, there are progress signs that buyers are opting for new homes, this according to Home Builders Research. The research group reported that the median resale price in August was $122,000, a decrease by 39 percent [...]