December is for the Holidays.

December 7th, 2011

The WHN Blog Team is taking the month of December off for the holidays. We’re still as busy as the elves in the the office but it’s time to clear our heads of all this content and ready up for the upcoming new year.

Happy Holidays to all of you!
See you in 2012.

About Assembly Bill 284 (AB 284 NV)

November 18th, 2011

Real estate agents in Las Vegas are in tuned to the recently passed AB 284 that went into effect October 1, 2011 but those outside of the Las Vegas real estate market aren’t too up to date.

To sum it all up, AB 284 will delay the foreclosure process. How? By increasing the requirements necessary for lenders to foreclose. In light of all the robo-signing and the increased investigations of 14 major lenders for foreclosure fraud, this Bill is meant to be one of the solutions to this ridiculous problem.

While this most likely will expose fraud and give homeowners the ability now to obtain information on who is holding their mortgage, increasing paperwork and having it recorded through the county clerk is simply going to create a huge back up in the system. With various budget cuts, it’s unlikely that the clerk’s office is going on a hiring frenzy to keep up with all the work.

The number of foreclosure filings for Clark County have already significantly dropped in the past month since the bill went into effect, literally from once were thousands of filings a month now down to hundreds.

Again, this will reduce fraud and expose fraud allowing those involved to be prosecuted and/or fined accordingly which overall is in the best interest of all homeowners, however, the back up in the system is going to be disastrous. The market is already slow, it’s only going to slow down further.



Welcome Home Nevada on LinkedIn

Las Vegas Foreclosures and Robo-Signing

November 4th, 2011

In most recent news, it has been announced that an independent group of consultants along with federal bank regulators will be looking into homes that were foreclosed upon by 14 major lenders between January 1, 2009 and December 31, 2010. Anyone keeping up with the real estate market knows that Las Vegas foreclosures were numerous during that specific timeframe.

After various complaints and suspicions, further investigations decided to be conducted to uncover any foul play by the lenders and their employees. Many of these corporations are being accused of “robo-signing,” the illegal processing and obtaining of signatures on foreclosure documents quickly without going through the proper procedures.

If, after thorough review of these foreclosures, the lender is found to have repossessed a home without going through the proper channels, former homeowners may be entitled to compensation.

Homeowners who lost their homes between the dates of January 1, 2009 and December 31, 2010 with 1 of the 14 listed lenders being investigated who believe that their primary residence was unfairly foreclosed upon can call 1-888-952-9105 and request a form to fill out and return no later than April 30, 2012. If the complain meets the requirements, more action will be taken to determine compensation.

For additional information such as the list of lenders and call center hours head to independentforeclosurereview.com.



Welcome Home Nevada on LinkedIn

Las Vegas Homes: Spooky Housing Superstitions

October 28th, 2011

Over the years I have always been intrigued at just how much of a role superstitions play in Las Vegas. Lucky charms, lucky hats, lucky coins, lucky numbers even lucky rooms, visitors and locals alike go to great lengths to ensure that Lady Luck is on their side. Even casinos such as The Wynn have omitted floors ending in the number four as the number four brings with it bad luck.

These same kinds of superstitions have spilled over into the Las Vegas real estate market as well. Buyers have been known to avoid closing on a home on a day ending in the number four and they most certainly would not buy a home with an address ending in the number four. Why? The number four in Chinese sounds eerily similar to the word death. They are much more attracted to the number eight which is associated with riches or wealth.

Set aside bad feng shui and unlucky numbers and there are a slew of other spooky housing superstitions. St. Joseph sells houses. Did you know that a statute of the patron saint of selling homes is commonly buried in the front yard of homes with the hopes that it will speed the selling process?

No faith in St. Joseph? Protect your home from witches this weekend by putting fennel seed in the keyholes of your doors or in the door jams. Whatever the superstition, if buyers, sellers and homeowners believe in them they’ll continue to put them into practice no matter how silly it may seem.



Welcome Home Nevada on LinkedIn

Identity Theft & Prevention

October 19th, 2011

In 2009 alone, there were over 10 million cases of identity theft. Here we are two years later and it is no surprise that identity theft is still on the rise. Tough financial times can lend themselves to people taking extremely desperate measures and stealing the identity of someone who has money readily available to them. While some use the information for shopping sprees, others are using the newly obtained name to commit crimes or even establish a new identity within another country.

Identities are being stolen by….

  • Digging through trash looking for statements with personal information and account numbers on them.
  • Taking personal papers from plain sight. (Almost half of all victims know the thief).
  • Stealing a wallet or purse.
  • Directly obtaining a credit card or debit card number.
  • Hacking into a server or database where personal information is stored.
  • Taking information from someone’s computer on an unsecured wireless network.
  • A victim being careless or forgetful.

Prevent identity theft by….

  • Dropping outgoing mail in a post office box.
  • Securing your wireless internet connections. Create passwords not easily detected.
  • Shredding any documents containing personal information.
  • NEVER carrying around your social security card.
  • Checking your credit every year if not more for discrepancies. It is also a good idea to check the social security numbers of your children and any recently deceased family members. This is the newest trend for thieves.

For more statistics, information and prevention tips go to identitytheftprotection.org.



Welcome Home Nevada on LinkedIn