Las Vegas Real Estate News Blog

Buyers often ask about the difference between a Foreclosure and a Short Sale.  A short sale implies a late payment status;  the lender(s) accept a price that is less than the outstanding loan(s) and the shortage is forgiven.  A foreclosure is a situation in which the lender has actually taken the property from the owner; […]

The
Las Vegas economy is growing strong!  Las Vegas welcomed more than 33 million visitors in 2007, while average daily room rates increased by 12%. 

McCarran
International
Airport processed a record number of 40.2 million passengers.  The Nevada Gaming Control Board reported statewide gaming revenue for

Clark
County as a 4% increase.  More than 68,000 new residents moved to

Clark
County […]

The ongoing mortgage freeze will continue to affect real estate activity in most cities throughout the country.  The private secondary market disruptions were the issue several weeks ago and those problems have had impact on conforming loans.  Mortgage originators are unable to sell “Alt-A” mortgages, which allows for those companies to replenish the cash needed […]

For taxpayers who have not yet filed their 2007 tax returns, consider the possible tax deduction of your private mortgage insurance.  Due to the tax law passed by Congress late last year, a home buyer might be able to save several hundred dollars in taxes with this deduction.  The deduction applies only to mortgages that […]

Private mortgage insurance has always been a way for homebuyers with lower down payments to qualify for mortgages.  By “insuring” their mortgages, they have been able to buy attractive interest rates and loan programs.  But the cost of PMI has been expensive, and that expense has never been a deduction from Federal income taxes.  In […]