July Real Estate News

The following link explains about the Nevada Foreclosure Mediation Program. It is being primarily implimented in Clark County at this point, but is a way to help distressed homeowners.



http://finance.yahoo.com/news/Nevada-foreclosure-mediation-apf-2254870516.html?x=0&.v=1&.pf=real-estate&mod=pf-real-estate




On another note, there seems to be some positive news in the housing market as seen below:

http://finance.yahoo.com/news/June-new-home-sales-rise-11-apf-3824378813.html?x=0

Coming Soon: A Boon For The Short Sale Home Owner

The confusing maze for the sucess of sellers being able to sell their property as a "short sale" is about to become more navigable. Further information should be coming later this month, but the basics are below:


http://www.realtor.org/press_room/news_releases/2009/05/short_sales_process

$8,000 Tax Credit Can Be Applied to FHA Loans

Great news! 1st time home buyers who are getting an FHA loan can apply the $8,000 tax credit to the loan..the catch? The borrower must still come up with the 3-1/2% FHA fee. None the less, it should be a great boost for borrowers. Check out the details here:

http://www.nasdaq.com/aspx/stock-market-news-story.aspx?storyid=200905291015dowjonesdjonline000620&title=hud-rolls-out-plan-to-monetize-tax-credit-for-fha-loans


Here is the video clip of Secretary Donovan with the press release.

http://www.nahb.org/generic.aspx?genericContentID=117642

Demand For Home Loans Increasing

According to MSNBC, there has been a jump indemand for mortgages giving rise to hope that there will be an increase in home purchases over the spring and summer. This will help bring relief for the housing market as buyers take advantage of the attractive interest rates and decreased home values allowing them to purchase more than in the past.


http://www.msnbc.msn.com/id/30107144/

Quoting from the article:

"Overall mortgage applications last week were 72.4 percent above their year-ago level. The four-week moving average of mortgage applications, which smooths the volatile weekly figures, was up 13.3 percent."

The Future of FHA Loans: Seller Contriubutions for Buyer?

The following link gives various thoughts on whether or not FHA should allow seller contributions for buyers.

http://http://realestate.yahoo.com/info/news/washington-report-obama-and-fha

Fed: Seller's to Disclose Home Energy Costs?

The link below discusses an idea HUD has come up with for home sellers to disclose home energy consumption to potential buyers (as the auto companies do for cars). Do you think this is a good idea? What ways might it be a benefit or hinderence in the real estate market?

http://http//www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/04/12/REOU16TJ2S.DTL

Elko Garners National Attention Once Again...

It's fun to find so much interest in our little ol' town- even the Wall Street Journal is taking notice!


http://online.wsj.com/article/SB123923354485803067.html