Big Tax Consequences coming so Short Sell now!
The Mortgage Debt Forgiveness act Expires at the end of this year, so shortsell now or plan on paying big taxes.
[Read More]Posted at 03:02PM Jan 24, 2012 by Jeff and Kelly Stafford in Real Estate | Comments[1]
The "heel of the bread"
Heels of the bread is what we have left.[Read More]
Posted at 12:30PM Jan 16, 2012 by Jeff and Kelly Stafford in Real Estate | Comments[0]
President Obama Visits Las Vegas
It was very nice of our fine president to visit our city yesterday to announce his new HARP mortgage modification plan. We appreciate it. It would be nice, though, if it applied to our circumstances. Problem is, a very small percentage of Las Vegas mortgages are held by Fannie or Freddie (which is what the new HARP applies to) AND the mortgage must be current. Wish that were true!
Posted at 04:32PM Oct 25, 2011 by Jeff and Kelly Stafford in Real Estate | Comments[0]
Poorly thought out housing policies....
Fannie and Freddies first look period helping to drive prices down.
[Read More]Posted at 12:09PM Aug 11, 2011 by Jeff and Kelly Stafford in Real Estate | Comments[0]
The magic $100k home sale price
The magic of buying a rental home for $100,000
[Read More]Posted at 03:29PM Mar 31, 2011 by Jeff and Kelly Stafford in Real Estate | Comments[0]
Banks make me laugh!
Silly things banks do....
[Read More]Posted at 11:45AM Mar 25, 2011 by Jeff and Kelly Stafford in Real Estate | Comments[0]
Rents going up
Rising rents to solve housing crisis.
[Read More]Posted at 09:32AM Mar 22, 2011 by Jeff and Kelly Stafford in Real Estate | Comments[0]
Low end drying up?
I was out showing low end condos with an investor last week. He was in town last June and there was a good selection to choose from. Last week, not so good and the prices seem to have started inching up. Does this mean we have reached the bottom of the bottom?
Posted at 12:29PM Mar 21, 2011 by Jeff and Kelly Stafford in Real Estate | Comments[0]
March State of the Market According to the news
Looking at the news is always interesting. They put a twist on things to sell more papers or get peoples attention. However, a lot of times there is a big difference in what the headline suggests and what the article is really about. My wife once sent an email to Hubble Smith, who is the main real estate writer for the Review Journal. This was just prior to our real estate bust. Anyways, she said: Hubble, the headline of your article says our real estate bubble is bursting, but the data in the article does not suggest that at all. Hubble said that he only writes the articles, somebody else writes the headlines.
What the headline writers need to realize is that what they write has a huge affect on how people act. If you read that the real estate bubble is bursting, even though the data suggests differently, you are not going to buy any real estate. Right? Thus, the bubble will burst.
What is going on in our market right now is completely different than what was going on prior to the bust.
Here is what I see:
1) 66% of the buyers last month were investors
2) 55% of the transactions were cash
3) We currently have a 2 month supply of rentals and that number is going down. Even apartment vacancy rates are going down.
My take on this? It is an amazing time to buy. For investors, the cash flow equation is amazing and there are a lot of tenants out there. For owner occupied: You can buy for way less than you can rent, save money on your taxes, and possibly have future appreciation. It is all good!
Posted at 12:19PM Mar 14, 2011 by Jeff and Kelly Stafford in Real Estate | Comments[0]
Another Election: How will real estate be affected?
Balance[Read More]
Posted at 11:21AM Nov 03, 2010 by Jeff and Kelly Stafford in Real Estate | Comments[0]
