Dawn Barrier REALTOR®, 's Blog,LAS VEGAS BLOG

Terry,

Thanks for the question, I do get ask this a lot these days.

The short answer is Yes.  The long answer is below....

Most of the Las Vegas REO Homes are on the MLS and you should use a REALTOR® so you are represented in the transaction. The agent who lists the Las Vegas REO home, is representing the bank,  not you and is looking out for the banks best interest, not yours, so you would be wise to choose your own buyers agent that represents you and will have your best interest at hand.

A REALTOR® who represents you will also have access to the recent sales in the area you are looking to buy and will be able to help advise you an a price to offer on the Las Vegas REO.

Also, you need to get with a lender or mortgage professional and get fully Pre-Approved by them so you will know exactly how much purchase power you have, what price range you should be in and an estimate of how much your monthly payment will be.

Getting Pre-Approved to purchase a Las Vegas REO is imperative and should be your #1 priority as you don't want to waste your time looking and dreaming about houses that may not even be in your price range.

Some of the Las Vegas REO Homes are currently being priced on the MLS at really low prices (more like teaser prices) to get as many high bids as possible and to move the property quickly. Some of the Las Vegas REO's are priced $10,000-$25,000 below the price they may sell for and below that last recent comparable sale in the area. Many of the Las Vegas REO's are getting bids at higher than asking price, due to this pricing technique and due to the fact that agents are advising clients that if they really want the home they need to be more realistic in their purchase offer price.

What? and Why?  You may ask .. As I stated, the banks want to move the property as fast as they can and for as much as they can and this tactic has been working here in Las Vegas as evidenced by the record breaking sales we have seen over the past several months and the dwindling inventory. Some of the banks know this and will hold out for a higher price.

Please go to my blog and read some of the previous articles I wrote on this and other subjects as well.

If you need information on getting a lender to do a pre-approval letter for you, email or call me and I will be happy to provide you with a few names. Feel free to email me any other questions you may have. Email Dawn

A bit about me

Certified Short Sale Professional

Dawn Barrier        Email Dawn 
Century 21 Aadvantage Gold
2 offices to serve your needs
Las Vegas, Nv
(702) 812-4550

My Website

My Blog

Copyright © 2009 Dawn Barrier. All Rights Reserved.

Recent Blogs

1.  BREAKING LAS VEGAS NEWS: Homes inventory is dropping, Multiple offers on homes, Vegas is heating up again

2. What SELLERS Need to Know about SHORT SALES- Las Vegas Short Sale HELP for Sellers

3. Las Vegas Short Sale Help......Henderson Short Sale Help....Avoid Foreclosure...Selling your home

4. What Buyers Need to Know about Short Sales - Las Vegas Short Sale HELP for Buyers

5. Agent Tips To Buying a REO - Foreclosure Home in Las Vegas by Dawn Barrier "Begin-Prequalify"

6. LAS VEGAS CONDO- New Listing - Just Listed - Summerlin area- SHORT SALE $59,900

7. How To Avoid Having A Mechanic's Lien Filed Against Your Property

8. City Center, Las Vegas Strip Construction PICS,, Aria, work is still moving on

9. Home Buyers Beware.....Make you Payments on Time...Rent, Car, Credit Cards, etc.

10. What Buyers Need to Know about Short Sales - Las Vegas Short Sale HELP for Buyers

Copyright © 2009 Dawn Barrier. All Rights Reserved.

Interesting short quiz just came out from REALTOR.org ...go take it and see how much you know...

Test your knowledge of the new HVCC guidelines-

Since it took effect May 1, 2009, the Home Valuation Code of Conduct (HVCC) has generated significant commentary among real estate professionals, appraisers, and lenders-as well as plenty of uncertainty over exactly what the agreement does and does not allow. The HVCC is a set of guidelines to curb inaccurate appraisals developed by New York Attorney General Andrew Cuomo and the two secondary mortgage market companies Fannie Mae and Freddie Mac, with support from their regulator, the Federal Housing Finance Agency.

In general, the guidelines seek to ensure an arm's length relationship between the lender making a loan and the appraiser who assigns a value to the house. It also sets forth a process for addressing incidences in which appraisal misconduct is suspected. Test how much you know about the new appraisal guidelines INFO SOURCE: REALTOR.ORG

Here is my website....DawnBarrier.com

Email Dawn

Providence is a Master Plan Community in the Far Northwest part of Las Vegas Nevada

While it is still a young vibrant scenic community set at the base of the mountains with nice wide streets,   it has not been immune to the foreclosure crisis. 

Builders continue to build in this community, but at a much slower pace and you can find almost new homes (barely lived in) that are foreclosures.

If you think you would like to live in this area or need to sell your home, give me a call 812-4550.

 1st pic was taken around dusk

 Just one example of the types of homes in the area

Copyright © 2009 Dawn Barrier. All Rights Reserved.

 A Henderson Short Sale occurs when you own more on your home that

what it could sell for and you need your lender approval to sell the home.

Please see my other blogs for more Henderson Short Sale Info.

Do you need to sell your Henderson Home?

Call me

(702) 812-4550

Dawn Barrier
Century 21 Aadvantage Gold

A Las Vegas/Henderson Short Sale Agent Real Estate Professional

 More about me...

  SHORT SALE YOUR HOME NO UPFRONT FEE

Here is my website....DawnBarrier.com

Email Dawn

Copyright © 2009 Dawn Barrier. All Rights Reserved.

 Copyright © 2009 Dawn Barrier. All Rights Reserved.

Las Vegas Short Sale, What is a Las Vegas Short Sale?

A Las Vegas Short Sale occurs when you own more on your home that

what it could sell for and you need your lender approval to sell the home.

Please see my other blogs for more Las Vegas Short Sale Info.

Do you need to sell your Las Vegas Home?

Call me

(702) 812-4550

Dawn Barrier
Century 21 Aadvantage Gold

A Las Vegas Short Sale Agent Real Estate Professional

 More about me...

  SHORT SALE YOUR HOME NO UPFRONT FEE

Here is my website....DawnBarrier.com

Email Dawn

Avoid foreclosure today  

Copyright © 2009 Dawn Barrier. All Rights Reserved.

Here is an interesting article by:  Market Issues by Jeff Mandel and Marlin Brandt 
 and a short little quiz:
Read the whole article here: Americans Have Below-Average Credit Scores

RISMEDIA, July 23, 2009-Forty-two percent of U.S. consumers have credit scores between 550 and 699. As a result, these consumers typically don't qualify for preferred interest rates and, depending on their overall credit profile, they may not even qualify for certain loans and credit cards. The primary challenge is that most consumers don't understand what impacts their credit profile and, more importantly, don't know what actions they can take to help improve it. This short quiz will help test how much you know about your credit profile and how it works.

1. To have the best credit profile impact, what is the maximum amount of your monthly credit line you should use?
a) 70%
b) 30%
c) 50%

2. What is the top contributing factor to what makes a good credit score?
a) Length of credit history
b) Amounts you owe
c) Payment history

3. If you pay 2% each month on your credit card (typical minimum payment), when will you pay off a $3,000 balance at 10% interest?
a) 18 years
b) 6 years
c) 3 years

4. After paying off a high-interest credit card, you should:
a) Continue using it occasionally
b) Close the account
c) Use the full amount of available credit every month

5. Applying for credit cards in order to just receive a free sign-up gift (t-shirts, mugs, etc.) has no impact on my credit profile?
True or False

6. Rewards points on credit cards are a good deal when:
a) I get cash back
b) I get free airline tickets
c) I carry no balance each month

7. To have a credit score, I must have at least one creditor reporting activity on my credit report for:
a) 12 months
b) 8 months
c) 6 months

8. Credit bureaus that manage your personal credit report data and credit scores are a:
a) Government entity
b) Non-profit agency
c) Regular business corporation

9. Banks and credit card companies think you are credit-worthy by how many credit offers you receive by mail?
True or False

10. Credit scores are used by lenders mainly to:
a) Tell how I compare to other consumers
b) Tell if I make my payments on time
c) Predict the likeliness that I will repay my loan on time

Answers: 1 - c, 2 - c, 3 - a, 4 - a, 5 - False, 6 - c, 7 - c, 8 - c, 9 - False, 10 - c

If you find you answered more than half of these questions wrong, you're not alone. In a survey, we found that the majority of consumers do not know the answers to these and similar types of questions. On average, U.S. consumers have a total of 13 credit obligations on their credit report. These include installment loans (auto loans, mortgage loans, student loans, etc.) and credit cards (such as department store charge cards, gas cards, or bank cards). As a result of the numerous outstanding credit obligations, combined with the lack of proper knowledge and guidance about what impacts their credit profile, the average U.S. consumer ends up spending thousands of dollars on unnecessary interest expenses.

The good news is that it's not too late. With a good understanding and proper guidance of how credit works, consumers can learn how to effectively manage their personal credit profile. Improvements can be obtained fairly rapidly with credit coaching services and the proper changes (no more trial-and-error stuff). Jeff Mandel is president and Marlin Brandt is COO of ApprovalGUARD.

Need to sell your home or buy a home in Las Vegas...call me

How to "NOT" Sell a Home Listing in Las Vegas, Nevada....

Ok, folks this is a real easy one....

Don't leave a key, or leave the wrong key...DUH!!

Wow, I have had this happen 2 times over the past week and boy does it

really tick me off and my buyer.  Especially, when it is July in Las Vegas and it is around 115!!!

See my you tube video clip..Las Vegas Video - So where's your office? .that was when it was only 104!

The sad thing about this is my buyer "Was" really interested in these 2 homes. 

Now I can make an exception, let it slide about the wrong key, maybe it was another agent mistake,etc, but when you know there is NO key and you list a home w/electronic key box , vacant, Key any? --how do I know this,,,I called the agent and he said "yeah, no key sorry, don't know where it is"...are you going to get another one in a day or so, can you meet me here,,,I have my buyer here?  "Ugh, no you can just make us an offer anyway"....when will you have the home open? "Ugh, I'm not sure"  ....

Well, you can imagine the things that I "wanted" to say, but didn't.  Anyway, I ask him to change his listing to note no key or he would have a bunch of ticked off agents calling him.

My buyer,,,well, he said forget it and we moved on to another home and we put the "other" home under contract.

A bit about me

Certified Short Sale Professional

Dawn Barrier
Century 21 Aadvantage Gold
2 offices to serve your needs
Las Vegas, Nv
(702) 812-4550

My Website

Copyright © 2009 Dawn Barrier. All Rights Reserved.