As a poker dealer at The Orleans, John Hill talks to players almost every day who have come to Las Vegas from faraway states and foreign countries. They’re not all here for the card game. That’s just something to pass time when they’re not out scouring Las Vegas for a good investment home. Median home prices have [...] [...more]
The run of seven consecutive months during which home sales increased ended in August, but sales remained strong compared with last year, and inventory was whittled down - good signs for the housing market’s eventual recovery. The 2,545 sales in August were 93 percent more than in August 2007, according to the Greater Las Vegas Association [...] [...more]
Mortgage rates dropping after federal action to take over Fannie Mae and Freddie Mac help to spur housing interest in Nevada. So says Rob Wigton of Minden, president of the Nevada Association of Realtors, whose agents are busier now. A check of online interest rates showed reasons for the following enthusiastic assessment from Wigton: “We’re certainly thrilled. [...] [...more]
The dramatic federal takeover of two mortgage giants has already made it cheaper to borrow money for buying a home. What it has not done is guarantee that you can persuade a banker to loan you any money. Lower rates are good for sales, but nowhere near enough to turn around real estate, said economist Roger Tutterow [...] [...more]
For many Americans, good credit isn’t here to stay - rising costs are putting many formerly well-to-do homeowners behind on their mortgage payments. In April 2008, delinquencies on prime loans, a $12 million dollar market, doubled. And the economy doesn’t look to have an upswing anytime soon. Home prices continue to drop. In July, the unemployment [...] [...more]
