Short sales skyrocketing

Short sales are increasingly becoming the alternative to foreclosures in Southern Nevada, which is still seen as "ground zero" in the nation’s housing crisis.

The number of short-sale homes now in escrow is nearly four times that of real estate-owned homes, though REO closings are still twice the amount of short sales, Nevada Title Co. reported in its April market summary

Regards,

Anthony Phillips, SFR | Keller Williams Realty

Residential Sales & Leasing

Tel: 702.818.9168 | Anthony@mylvhomesales.com

3090 S Durango Dr # 106 | Las Vegas, NV 89117

www.mylvhomesales.com

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Consumer News

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March 2010

Homebuyer’s Federal Tax Credit Still Available

Now is the best time to buy! The Expanded First-time Homebuyer’s Federal Tax Credit is available until April 30, 2010. Eventually, home prices and interest rates may climb, inventory may become scarce and the tax credit will be gone. So, contact me today to find out if you qualify.

Freddie Mac Announces Cut Off Date for Interest Only Loan Apps

As reported on February 26 , Freddie Mac has decided to stop purchasing and securitizating loans utilizing the interest only payment option. Freddie’s deadline for PURCHASING these loans was set as September 2010, however no application/LP approval date cut-off was provided in the bulletin.

Regards,

Anthony J Phillips

Anthony Phillips | Keller Williams Realty

Tel: 702.425.4762 | Anthony@mylvhomesales.com

3090 S Durango Dr # 106 | Las Vegas, NV 89117

www.mylvhomesales.com

Making Home Affordable Program (HAMP)

The administration’s Making Home Affordable Program (HAMP) is beginning to look a little more robust based on figures released Wednesday the U.S. Treasury Department and the Department of Housing and Urban Development (HUD), joint sponsors of the program. The newest figures indicate more borrowers are emerging from trial loan modifications and signing permanent loan modification offers. As of the end of January, a total of 116,297 permanent loan modifications had been signed, nearly double the 66,465 reported at the end of December

Anthony Phillips | Keller Williams Realty

Tel: 702.425.4762 | Anthony
3090 S Durango Dr # 106 | Las Vegas, NV 89117

www.mylvhomesales.com

www.anthemhomesales.com

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