What's the Best Season for Home Buying?

A new study conducted by Trulia revealed seasonal patterns of house search activity state by state. Refer to the link provided below to see some interesting results!

http://realtormag.realtor.org/daily-news/2013/01/31/whats-best-season-for-home-buying

Source: REALTORMAG.REALTOR.org

Mortgage Calculator

Whether you're paying mortgage directly or collecting mortgage payments from tenants, this mortgage calculator from the official GLVAR website is a useful and free resource for anyone making payments on one or more properties. It may also be helpful to those of you who are not yet making mortgage payments, but are in the process of deciding what kind of payments you are willing to make. Click the link provided below and find the 'Mortgage Calculator' under the left sidebar titled 'Consumer Areas' to calculate your mortgage now.

http://lasvegasrealtor.com/consumers

Source: LASVEGASREALTOR.com

Now is the Time to Think Green

Both homebuyers and sellers are continuing to follow the upward trend of "going green". The following post from the official RE/MAX blog suggests how you can start with small changes and work your way up toward incorporating greater green elements in your home. Read on for their helpful suggestions:

http://www.remax.com/c/housing-blog/blog-post/nows-the-time-to-think-green

Source: REMAX.com

Nevada Realtors Seek Change in ‘Robosigning’ Law to Free up Home Inventory

From the article: "A real estate lobbying group wants Nevada lawmakers to tweak the state's "robosigning" law and get more abandoned properties back up for sale."

http://www.vegasinc.com/news/2013/jan/24/nevada-realtors-seek-change-robosigning-law-free-h/

Photography: SAM MORRIS
Source: VEGASINC.com

Report: Las Vegas Housing Market Improved, but Long Way to Go

A new report says that the road to full recovery remains a long one. Read more details at the article linked below.

http://www.vegasinc.com/news/2013/jan/21/report-las-vegas-housing-market-improved-long-way-/

Photography: STEVE MARCUS
Source: VEGASINC.com

Buying a Home? Beware of the Not-So-Short Sale

For investors eager to snag a good price on an underwater home, this article warns buyers that short sales are not typically the "shortest" option in terms of the amount of time it may take to complete the buying process. Before jumping at a short sale, keep in mind that the time frame may be long and strenuous. 

http://www.lasvegassun.com/news/2013/jan/18/buying-home-beware-not-so-short-short-sale/

Source: LASVEGASSUN.com

RE/MAX Co-Founder and Chairman Dave Liniger Predicts 2013 as the Best in Years

Liniger's Top 10 Real Estate Predictions for 2013:

1. More homebuyers and sellers will come back to the market
2. Homes sales will rise by 6-7 percent and prices rise by 3-4 percent
3. The inventory of homes for sale will hit a bottom
4. Higher priced homes begin to sell
5. Distressed property numbers continue to fall
6. Shadow inventory continues to fall
7. The number of Short-Sale closings will rise to a peak
8. Record low mortgage rates rise slightly by year-end
9. Lending remains tight
10. Home affordability remains the best in years

http://www.remax.com/c/housing-blog/blog-post/re-max-co-founder-dave-liniger-predicts-2013-as-the-best-in-years

Source: REMAX.com

RE/MAX Ranks Number One in Real Estate: Prestigious National Survey Recognizes Top Franchises

The RE/MAX name gains further prestige as one of the very top franchisors in the real estate market today.

http://www.remax.com/c/about/news_article/re-max-ranks-number-one-in-real-estate-prestigious-national-survey-recogniz

Source: REMAX.com

Ticor Title

After providing Nevada market updates from Ticor Title, it seemed appropriate to also provide some background information on Ticor Title itself and the services it provides. As stated by the official website, "Ticor Title is a subsidiary of Fidelity National Title Group who is one of the nation's leading real estate service companies, providing title insurance and escrow services in 49 states, the District of Columbia, Puerto Rico, the Bahamas and the Virgin Islands."

Title Insurance - To elaborate further, title insurance protects against the loss resulting from defects of title to a specifically described parcel of real property. Simply, it is meant to protect an owner's or a lender's financial interest in real property against loss due to title defects, liens, or other matters.

Escrow -  On the other hand, escrow is the delivery of a deed by a grantor to a third party for delivery to the grantee upon the happening of a contingent event. It may consist of a bond, deed, or other document kept in the custody of a third party, taking effect only when a specified condition has been fulfilled.

Source: TICORTITLE.com

Ticor Title Fourth Quarter 2012 Housing Summary

Click the image to enlarge the report. 

Source: TICORTITLE.com

Ticor Title December 2012 Market Report

Click the image to enlarge the report.

Source: TICORTITLE.com

Report: Only 18 Percent of Las Vegans Own Their Homes Outright

Las Vegas has one of the lowest rates in the country of residents who own their homes free and clear (meaning they are not tied down by a mortgage payment).
Read more at the article linked below:

http://www.vegasinc.com/news/2013/jan/09/report-only-18-percent-las-vegans-own-their-homes-/

Photography: STEVE MARCUS
Source: VEGASINC.com

Housing Affordability Index to Set Annual Record for 2012

With 2012 all wrapped up we are continuing to see positive housing market reports for the overall year.

From the article: "With 11 months of data reported, 2012 will clearly go down as a record year for favorable housing affordability conditions, and a great year for buyers who could get a mortgage, according to the National Association of Realtors^®."

http://www.realtor.org/news-releases/2012/10/housing-affordability-index-to-set-annual-record-for-2012

Source: REALTOR.org

Las Vegas Home Prices End 2012 Up 24 Percent

Cash investors have made a large difference this past year in boosting the valley's housing market. Read some newly gathered market stats at the article linked below:

http://www.vegasinc.com/news/2013/jan/08/las-vegas-home-prices-end-2012-24-percent/

Source: VEGASINC.com

Las Vegas Housing Market Continues Upward Trend

From the article: "There were 596 new home sales in November in the Las Vegas Valley, with a median closing price of $219,285, according to a report this week from Las Vegas-based Home Builders Research. That compares to 365 new home sales in November 2011 at a median price of $204,221."

http://www.lasvegassun.com/news/2012/dec/26/las-vegas-housing-market-continues-upward-trend/

Photographer: STEVE MARCUS
Source: LASVEGASSUN.com

Old Republic Home Warranty

Do you have the proper home warranty coverage to protect your investment(s)? In terms of personal experience, we strongly recommend Old Republic Home Protection to most homeowners, as their service is both affordable and reliable. Whether you're already covered or searching for the ideal home warranty plan to meet your property's needs, check out the ORHP website to see if their service is right for your home:

http://www.orhp.com/index.cfm?go=mediaCenter.FAQ

Source: ORHP.com

Looking Back and Forward

According to the director of UNLV's Center for Business and Economic Research, "We’re seeing a real recovery in the housing sector." Read more at the article linked below for more info about our global, national, and regional economic outlooks. 

http://www.vegasinc.com/news/2012/dec/24/looking-back-and-forward/

Source: VEGASINC.com

New American Mortgage 2013 Loan Limits

Received info this morning from New American Mortgage regarding changes in loan limits for 2013. They are as follows:

2013 Conventional Loan Limits

The Federal Housing Finance Agency (FHFA) has issued the maximum loan limits that will apply to conventional loans to be acquired by Fannie Mae in 2013. All loan limits for 2013 remain unchanged from 2012. The first mortgage loan limits are defined in terms of general loan limits.

Contiguous States, District of Columbia, and Puerto Rico

- 1 Unit $417,000

- 2 Unit $533,850

- 3 Unit $645,300

- 4 Unit $801,950

2013 FHA Loan Limits

Federal Housing Administration Maximum Loan Limits, Effective Period: January 1, 2013, through December 31, 2013

- Clark County Nevada, 1 Unit the maximum loan limit is $400,000

Click on the link below to find the FHA Mortgagee Letter 12-26 outlining the 2013 maximum loan limits.

http://portal.hud.gov/hudportal/HUD?src=/program_offices/administration/hudclips/letters/mortgagee

2013 VA Loan Limits

The Department of Veterans Affairs (VA) Loan Guaranty program does not set a maximum amount that an eligible veteran may borrow using a VA guaranteed loan.  However, the following “limits” must be used to calculate VA’s maximum guaranty amount for a particular county. For 2013, some limits increased, some stayed the same and few decreased. 

- Clark County Nevada, IS NOT on their list so the limit is $417,000.

VA Circular 26-12-9 which addresses changes with the VA loan. Some of the highlights are:

- Active duty member's dependent children my qualify to satisfy occupancy requirements

  when the veteran is deployed

- Expanded funding waiver for active duty military

- Changes to the maximum loan guaranty amounts for the remainder of 2012

Click on the link below to find the VA Circular 26-19-9 for details.

http://www.benefits.va.gov/homeloans/documents/circulars/26_12_9.pdf