Archive for the ‘First-Time Home Buyers and Sellers’ Category
Tuesday, October 20th, 2015
Housing Data Holds Steady, Fed Does Too
Long-term housing data stayed solid in the third quarter, although some monthly data was disappointing.
August Housing Starts fell 3 percent from July and failed to meet expectations. Despite the decline, Housing Starts still kept pace above one million for the fifth straight month, signaling significant recovery after the housing bubble imploded in 2008. August Building Permits also were up 3.5 percent from July, reaching 1.17 million units.
August Existing Home Sales, as reported by the National Association of REALTORS® (NAR), also declined 4.8 percent from July to an annual rate of 5.31 million. This was below the 5.50 million expected. The disappointing drop comes after three straight monthly gains. Year-over-year sales, however, have risen for 11 consecutive months and are 6.2 percent above a year ago.
Finally, August New Home Sales surged to the highest rate since early 2008 and were up nearly 22 percent from August 2014. July’s numbers were also revised higher, signaling continued strength in the U.S. housing market.
FHA Eases Requirements for Some Borrowers
The Federal Housing Administration (FHA) announced over 60 loan guideline changes and clarifications that impact charge-off accounts, late payments, self-employed borrowers who have experienced a drop in income, and more. The changes took effect on September 14, 2015. While the changes are subject to lender approval, some of the new rules may make it easier for borrowers to qualify for an FHA loan.
Fed Held Benchmark Rate Steady
Investors were once again awaiting action from the Federal Open Market Committee meeting in September. Like prior meetings this year, the Fed opted to leave its benchmark Fed Funds Rate alone.
The Fed Funds Rate is the rate at which banks lend money to each other overnight. While this rate is not tied directly to home loan rates, when the Fed Funds Rate rises, home loan and other consumer rates may follow suit, depending on the economy and market conditions.
Fed Chair Janet Yellen said it is unlikely the Fed Funds Rate will be raised at one of its remaining meetings this year. While Gross Domestic Product surged in the second quarter and other key indicators show signs of a strengthening economy, the September Jobs Report was weak.
In the meantime, home loan rates have started this fall near historic lows. But it’s important to stay tuned in to action from the Fed and economic news here at home and overseas—all of which can impact the markets and home loan rates. Stay informed with my next quarterly REALinsight Market Update coming in January.
Tuesday, October 20th, 2015
New Home Tracks are all over the valley, it’s valley-wide. The Builders are going to town building all sorts of homes in all different price ranges. Are you interested in a new home? If so, Please call me. I have a large inventory of what the builders have on the market right now and what’s to come. Call me and let’s go shopping. Penny O’Brien with Signature Real Estate Group. 702.321.9383 Your Summerlin Specialist.
Thursday, September 11th, 2014
I have helped many families purchase their homes with this program. If you’re looking for an Experienced Realtor, It’s Me. I can Help. The Section 184 Indian Home Loan Guarantee Program is a home mortgage specifically designed for American Indian and Alaska Native families, Alaska Villages, Tribes, or Tribally Designated Housing Entities. Section 184 loans can be used, both on and off native lands, for new construction, rehabilitation, purchase of an existing home, or refinance.
Because of the unique status of Indian lands being held in Trust, Native American homeownership has historically been an underserved market. Working with an expanding network of private sector and tribal partners, the Section 184 Program endeavors to increase access to capital for Native Americans and provide private funding opportunities for tribal housing agencies with the Section 184 Program.
To help increase Native access to financing, the Office of Loan Guarantee within HUD’s Office of Native American Programs, guarantees the Section 184 home mortgage loans made to Native Borrowers. By guaranteeing these loans 100%, we encourage Lenders to serve the Native Communities. This increases the marketability and value of the Native assets and strengthens the financial standing of Native Communities.
Thursday, July 31st, 2014
Here is another way to search for free home search for you viewing. Call me anytime with any Real Estate Questions you may have. Penny O’Brien at 702.321.9383
I have the low down on NEW homes in Las Vegas too.
Tuesday, July 29th, 2014
The beautiful Townhouse I listed a couple weeks ago is now in contract. We will be closing soon. If you liked that one, I’m listing another one almost identical to it. Same wonderful Single Story Complex, with less than 70 units within. It’s also a single story,2 bedroom, 2 bath unit. Located near the Las Vegas Strip.
The complex has entertainment features of swimming and tennis.
If you’re interested in knowing how low your payments would be or want to see inside, feel free to give me a call.
Penny O’Brien 702.321.9383 www.SunnyLasVegasHomes.com
Signature Real Estate Group 9525 Hillwood Dr. Suite 120 Las Vegas, NV 89134
Tuesday, June 24th, 2014
Hi there ,
Thank you for stopping in to see this amazing Townhome. Please feel free to call me for more information, call me at 702.321.9383 I’ll be listing one next door to it soon. How much fun would that be to have your family members/friends able to live near you?
this great Townhome consists of: Two bedroom, two bathrooms, Nearly new washer and dryer. Brand New Water Heater, all appliances are included in the price of just $89,000. The townhome is located near the pool and tennis court, and is in a very small community. It’s so NICE.
Townhome is perfect for anyone, first time home buyers welcome.
Tuesday, February 18th, 2014
Are you in the market to buy here in Sunny Las Vegas?
Here is some basic information about the programs currently available. All programs are income/Family size driven. The larger the family size, the higher the income limit.
Here are a few Programs available in North Las Vegas, Henderson, South Summerlin and Las Vegas, NV
City of North Las Vegas Program
City Of North Las Vegas Home Program
Clark County Home Funds
City of Las Vegas Neighborhood LIFT Program
DO you need more information about these programs? Call Me @Penny O’Brien 702.321.9383
Sunday, February 9th, 2014
Home flipping, a trend of Las Vegas’ housing bubble, became more popular and a lot more lucrative last year amid surging prices.
The fast buy-and-sell real estate deals consists of 7.2 percent of all single-family home sales in the Las Vegas area last year, up from 6.3 percent in 2012, via to a new report from RealtyTrac.
The research firm defines flipping as buying a house and then selling it within six months.
Local property owners booked an average gross profit of $44,501 on last year’s flips, more than double what they earned in 2012, $20,872.
Gross profits are the sales price over the purchase price and do not account for costs the flipper may have acummulated after buying the home, such as renovation work.
Nationwide, flipping comprised 4.6 percent of SFR home sales last year, up from 4.2 percent in 2012, RealtyTrac found. U.S. flippers booked gross profits of $58,081 per deal in 2013, up 27 percent from $45,759 in 2012.
Flipping was crazy fast during Las Vegas’ doomed housing boom last decade, when investors with no real estate expertise — but received easy obtained loans — bought property and sold it for profit a short time later.
This caused prices to high rise, as two-story homes that today sell for $100,000 sold for around $200K or more seven or eight years ago.
Prices plunged during the recession but now are rising at one of the fastest rates nationally again, thanks to investors who have bought cheap homes in bulk the past few years to turn into rentals.
The surge has created new opportunities for flipping.
The median sales price of previously owned single-family homes in Southern Nevada in December was $185,000, a major increase of 24% according to the Greater Las Vegas Association of Realtors.
Sunday, February 9th, 2014
Once priced at $207,000 the new price of this beautiful home was reduced to $199.000.
Call me for a viewing.
Penny @ 702.321.9383
Friday, February 7th, 2014
if you’re in the market to buy, sell or rent a place here in Las Vegas Feel free to give me a call. I have 15 years full-time experience as a Realtor. If you’re interested my clients would be happy to speak with you so you can get a testimonial of my professionalism. I know that it’s difficult to deal with strangers sometimes. You will hear the powerful testimonies and want to allow me to help you with your Real Estate Needs.
Penny O’Brien@ 702.321.9383
Signature Real Estate Group
9525 Hillwood Dr
Las Vegas, NV 89134
Las Vegas | Henderson | Summerlin Realtor/Real Estate Agent
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