The Little Team Real Estate Blog

Home prices up by as much as 30% in some areas, but will this last and is it sustainable? New home prices are up over 10% from last year as well. This is caused by a lack of homes for sale and high demand from investors, first time home buyers and move up buyers. Current interest rates are historically low close to 3%. Home builders are busy as ever and buying up all available land to build homes. Will this recovery last? This depends on the estimated 100,000 potential homeowner defaults on the horizon.

One thing I do know is the banks are working with more and more homeowners to short sale their home, which will prevent a lot of these homes from going into foreclosure, plus the banks are not dumping these foreclosed properties on the market cheap, or

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There are so many world class golf courses in the Las Vegas area with great deals for locals. We have great weather here most of the year with plenty of sunshine making it an attractive golf destination. If you live here you can pay a nominal membership fee to play many public/ semi- private courses managed by the same companies. I hardly ever pay more than $50 to play golf courses designed by Jack Nicklaus, Arnold Palmer, or Tom Fazio to name a few. In fact this Thanksgiving week our temperature will be in the low 70's and sunny.

On top of that, with the depressed economy many private clubs have drastically lowered initiation dues, so you can live the country club lifestyle at a fraction of the price, especially with home prices so low, you can pick

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Well in our market the majority of sales are either bank owned or short sales, and people often wonder which is a better deal. Well first off we have to differentiate between the two. Bank owned or what is often called REO( Real estate owned) is a home that is taken over by the bank via foreclosure by the previous owner.

A short sale is where the current owner is trying to sell the home for less than they owe, because they can no longer make payments on the house, or have some other form of financial hardship. Now that I have explained the major difference in these two, I will go into the pro's and cons of buying these types of properties. Ok, so you want to buy a REO, this is what you can expect. One the property is usually sold -as-is and the bank

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