Time for house prices to start falling again

August 24, 2010: The big economic news of the day, and probably the week, was the big drop in existing-home sales in July reported this morning by the National Association of Realtors sates the Washington Post. This was to a certain extent expected after the expiration of the home-buyer tax credit in the spring, allowingContinue reading “Time for house prices to start falling again”

Are Broker Price Opinions (BPO) Easy to Influence in a Short Sale?

CAN REAL ESTATE BROKERS BE BRIBED TO SUBMIT FALSE APPRAISALS? A storm is brewing between appraisers and broker price opinion (BPO) professionals vying for valuation work for short sales conducted through the Making Home Affordable Foreclosure Alternatives (HAFA) program. The US Treasury Department is taking the necessary steps to prevent short sale fraud under theContinue reading “Are Broker Price Opinions (BPO) Easy to Influence in a Short Sale?”

Vegas House Bargains Dry Up

SHORT SALES ARE HEATING UP THE VEGAS MARKET Las Vegas is one of the foreclosure capitals of the U.S., with about one in four households behind on house payments or in mortgage foreclosure. Yet all three of these shoppers—a professional real-estate investor, a county official with federal funds designated for stabilizing neighborhoods and an installerContinue reading “Vegas House Bargains Dry Up”

Nevada Has Highest Mortgage Delinquency Rate In Country

TRANSUNION PREDICTS 1 IN 5 NEVADA HOUSES WILL DEFAULT IN 2010 TransUnion’s quarterly analysis of trends in the mortgage industry found that mortgage loan delinquency (the ratio of borrowers 60 or more days past due) increased for the 12th straight quarter, hitting an all-time national average high of 6.89 percent for the fourth quarter ofContinue reading “Nevada Has Highest Mortgage Delinquency Rate In Country”