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

QUESTION:  I see many listings online that state "Short Sale, please allow 3-5 months to process." What does the term "Short Sale" mean and why does it take so long to process? 

ANSWER:  I am ask this question here in Las Vegas almost on a daily basis, especially now since "Short Sales" are dominating are market. You can also read thru my blogs for more information. 

The term "Short Sale" occurs when you "owe" more on your home than what it could sell for and you need your lender approval to sell the home. "Short" meaning the lender will be "short" the difference between what it will sell for and what you owe.  If you have 2 loans, you would need to get both lenders approval the transaction.

A "Short Sale" is "Not" usually a short process.  Here are just some of the things that can make a "short sale" take 3-5 months.

A Short Sale will take longer because your lender will want to verify your hardship (hardship = you need to sell due to loss of income, divorce, job transfer, you can't refinance, etc).

They will usually ask for all your financial information to prove this "hardship" and review all this information. (paystubs/unemployment check copy, bank statements,etc).

Once an offer is sent into the bank, they also will want to appraise the home to make sure the offer is within a reasonable price point as to the comparable homes that have recently sold in your neighborhood. They may even want to check out the buyers prequalification to make sure their preapproval letter is solid.

Then, they review everything they may also have to get the "investors" approval of the sale as well.  "Investors" are the persons/corporation/bank, etc that actually own stock in your loan, there may be several "investors", that may or not be the actual bank that you make your mortgage payment to.

Also, make sure you are working with a REALTOR® who knows how to do short sales or this may also delay the process.

All these steps take time and the banks are inundated with short sales, loan modifications and foreclosures so bear with them and your REALTOR®.

Do you know of someone who is facing foreclosure, behind on their house payment and they need to sell their home?

Please have them call me 812-4550, I do not charge any upfront fee for listing your home for sale & you may be able to stay in your home longer.

There is an alternative to foreclosure.

Email Dawn

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

A bit about me

Certified Short Sale Professional

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

My Website

My Blog

Copyright © 2009 Dawn Barrier. All Rights Reserved.

This article is of a general nature and is not intended to address any specific legal or ethical situation.

Images Copyright © 2009 Dawn Barrier. All Rights Reserved.

Another LAS VEGAS SHORT SALE

Dawn Barrier | Century 21 | (702) 812-4550 509 N Minnesota St, Las Vegas, NV INVESTOR SPECIAL-2 for the price of 1-RENTAL INCOME 3BR/1BA Single Family House offered at $59,900 Year Built 1956 Sq Footage 1,556 Bedrooms 3 Bathrooms 1 full, 0 partial Floors 1 Parking Unspecified Lot Size 5,850 sqft HOA/Maint $0 per month DESCRIPTION INVESTOR SPECIAL RENTAL HOME IN FRONT & 1 UNIT IN BACK RENOVATION of KITCHEN & BATH DONE APROX IN 2004 Approx $900 front house Approx $400 back unit see additional photos below ADDITIONAL PHOTOS Photo 2 Photo 1 Photo 3 Photo 4 Contact info: Dawn Barrier Century 21 (702) 812-4550 For sale by agent/broker Equal Opportunity Housing Posted: Aug 27, 2009, 9:19pm PDT

Dawn Barrier, Century 21 Aadvantage Gold, 812-4550

www.LasVegasDawn.com

Do you know of someone who is facing foreclosure, behind on their house payment and they need to sell their home?

Please have them call me 812-4550, I do not charge any upfront fee for listing your home for sale & you may be able to stay in your home longer.

There is an alternative to foreclosure

Mountains Edge Las Vegas Fire Ryland Homes under Construction-Breaking News

  3 homes burned

  STORY & LINK TO THE FULL STORY & PICS FROM Las Vegas Now Channel 8 News  http://www.lasvegasnow.com/global/story.asp?s=10979062

   
Fire investigators are still piecing together the details of what started a massive Monday morning blaze in the southwest part of the valley near Fort Apache and Gomer. The fire forced some families in the area to evacuate their homes 

 My website   www.LasVegasDawn.com

Centennial Hills Village of Centennial Springs French Market Shopping

The event is scheduled to run 9 a.m. to 1 p.m. every other Saturday at the park until fall.

Centennial Springs' C.P. Squires Park, 7530 Nicklin St., holding everything from vintage clothes to jewelry to the fresh produce that is the root of the market. The market also includes plants and flowers, food and other vendors.    For more information, visit www.yourfrenchmarket.com

Lots of nice folks to meet and enjoy the people, park and the views.  I've been working a lot of weekends

so I have not been able to get out there every event, but got in a bit of time at the last event.

I didn't get to get pics of everything and of course some of the pics just didn't turn out that great, but ..Here are some pics of a few vendors....

 Jewelry by  J&J Specialties, Inc  Katie is the Designer  (702) 592-5265

 Wounded Horse Designs by Judy Fatton (702) 378-1014

Wow, yep it is Vegas! so much green at the park, using reclaimed water,,,hmmm?

All content & pictures Copyright © 2009 Dawn Barrier. All Rights Reserved.

www.LasVegasDawn.com

 I rec'd this email the other day and just thought I'd share it with you.

Pulte Homes & Centex Announce Merger

We are pleased to announce that on Tuesday, August 18, the merger between Pulte Homes and Centex was completed. This merger has brought together two industry leaders with a combined 100+ years of experience and long-standing reputations for construction quality.  We wanted you to be among the first with whom we shared the news.

With the merger completed, Centex is now part of the Pulte Homes family, which includes Del Webb. Our two companies share common cultures and rich traditions of delivering quality and value, doing the right thing and exceeding the expectations of our customers. 

When considering a new home, you can be more confident than ever when choosing any of the Pulte Homes family of brands. As the nation's largest homebuilder, we now have greater construction and financial resources for delivering the outstanding quality and service for which both Pulte Homes and Centex have long been recognized. 

REMEMBER if you are in the market for a LAS VEGAS NEW HOME, contact me first before you head

out to the builders site!

LasVegasDawn.com

 Centennial Hills Village of Centennial Springs Movies in the Park 

Kids Love this!

The movies are shown at 8 p.m. at Pop Squires Park,

 7530 Nicklin St. Participants can bring blankets and snacks.

 Watch for the blog on the upcoming French Market to be held here on Saturday morning.

All content & pictures Copyright © 2009 Dawn Barrier. All Rights Reserved.

LAS VEGAS SCHOOL Zoning Information-Search by address to confirm your school.

Future Las Vegas Buyers and Renters Information for you....

I'm ask all the time about school zones.

Which school will my child go to?

How will I know?  Can you tell me?

I can't tell you where that will be, that is up to where your future home address is, and it is up to you to verify all that information...but...

here is the Clark County Search page for You to enter the address and it will tell you that information..

Zoning Information

Zoning Search

Don't know which school your child is zoned for?

Head on over to the Zoning Search page to search what schools are zoned for a particular street address.

http://ccsd.net/schools/zoning/index.php

Zoning Information   http://ccsd.net/schools/zoning/zoning.php

Search For Your School Zone

Enter your address (street number and street name) without the direction (N, S, E, W) or suffix information (ST, AV, LA, DR, etc.).

 There is a lot more info on the website as well. 

Do you know of someone who is facing foreclosure, behind on their house payment and they need to sell their home?

Please have them call me 812-4550, I do not charge any upfront fee for listing your home for sale & you may be able to stay in your home longer.

There is an alternative to foreclosure.

Email Dawn

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

A bit about me

Certified Short Sale Professional

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

My Website

My Blog

Copyright © 2009 Dawn Barrier. All Rights Reserved.

This article is of a general nature and is not intended to address any specific legal or ethical situation.

Images Copyright © 2009 Dawn Barrier. All Rights Reserved.

Image Copyright © 2009 Dawn Barrier. All Rights Reserved.

Las Vegas Resale Homes Inventory Drops below 9,500 per MLS Stats 8-16-09

I was just pulling some numbers of the MLS here in Vegas and as of tonight there are

9,428 active (ER or EA) resale Single Family homes for sale in the Las Vegas valley area.

Condos and Townhomes resale are down to 2,843.

As of right now there  are 13,956 resale homes, condos, townhomes and mobile homes in 

contingent or pending status.  Of course these figures do change daily, but you see our inventory

is low right now and we most likely could use about 1,000 or so homes to come on the market as

there are a lot of first time buyers that are getting outbid by the investors and if they don't find

a home by say around October 30 at the latest and have it under contract, they may not be able to

get the tax credit.....

So....if the lenders and sellers out there wait to put homes on the market after October

they may have a harder time selling them unless the tax credit gets extended.

If the banks flood the market again all at once, that will also make things worse here in Vegas as

it could push prices even lower, but we currently are not seeing a flood of bank owned homes being

put on the market at this time...again, that could change any day!

Just my thoughts on it!

Stats were pulled from our local MLS.

Do you know of someone who is facing foreclosure, behind on their house payment and they need to sell their home?

Please have them call me 812-4550, I do not charge any upfront fee for listing your home for sale & you may be able to stay in your home longer.

There is an alternative to foreclosure.

Email Dawn

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

A bit about me

Certified Short Sale Professional

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

My Website

My Blog

Copyright © 2009 Dawn Barrier. All Rights Reserved.

Dawn Barrier | Century 21 | (702) 812-4550 3324 Catherine Mermet, Las Vegas, NV North Las Vegas Short Sale 3BR/2.5BA Single Family House offered at $118,900 Year Built 2007 Sq Footage 2,066 Bedrooms 3 Bathrooms 2 full, 1 partial Floors 2 Parking 3 Car garage Lot Size 7,405 sqft HOA/Maint $32 per month DESCRIPTION As you walk into this Centex built home with 3 car garage you will notice that this home has been well taken care of and is almost like new. Front entry with tile at the entry and thruout the major walkways, kitchen and baths. Front living area with the Family room in the back of the home open to kitchen and nook area with sliding glass doors to the backyard that has a covered patio that runs about the length of the house. The kitchen has Granite counters beautiful Oak cabinets, center island and the kitchen sink is by the window that looks out into the backyard, dishwasher, refrigerator, gas stove and oven, built in microwave. Beautiful oak staircase leads you to the upstairs loft and bedrooms as well as the large deck that can be accessed from the loft and the master bedroom where you will see the beautiful mountain views. This is a spacious home with easy commute to downtown or the strip. This would be Great for a First Time Home Buyer, a nice Vacation-2nd home or even an Investment property as well. see additional photos below PROPERTY FEATURES - Central A/C - High/Vaulted ceiling - Tile floor - Family room - Living room - Bonus/Rec room - Breakfast nook - Dishwasher - Refrigerator - Stove/Oven - Microwave - Granite countertop - Washer - Dryer - Laundry area - inside - Balcony, Deck, or Patio - Yard ADDITIONAL PHOTOS Photo 1 Photo 1 Photo 1 Photo 1 Photo 2 Contact info: Dawn Barrier Century 21 (702) 812-4550 For sale by agent/broker Equal Opportunity Housing Posted: Aug 9, 2009, 7:47pm PDT

Dawn Barrier, Century 21 Aadvantage Gold, 812-4550

http://www.LasVegasDawn.com

Do you know of someone who is facing foreclosure, behind on their house payment and they need to sell their home?

Please have them call me 812-4550, I do not charge any upfront fee for listing your home for sale & you may be able to stay in your home longer.

There is an alternative to foreclosure

Email Dawn

Do you know of someone who is facing foreclosure, behind on their house payment and they need to sell their home?

Please have them call me 812-4550, I do not charge any upfront fee for listing your home for sale & you may be able to stay in your home longer.

There is an alternative to foreclosure.

Email Dawn

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

A bit about me

Certified Short Sale Professional

Dawn Barrier        Email Dawn 
Century 21 Aadvantage Gold
2 offices to serve your needs (North and South)
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

Las Vegas First Time Home Buyer Tips , Summerlin Short Sale Condo

Did you know when you are looking at homes on Realtor.com,, some of those homes may already be under contract?

Here is how you can see the status, it is right on the main page of the home you are looking at.

CLICK HERE TO GO TO A SAMPLE Summerlin Short Sale CONDO LISTING that is currently available for offers.

Look down below the picture spot...

in the PROPERTY INFORMATION Section...

Go Down to the Property Features section on the Left side where the bullet points are...

Now Look at the STATUS part....SEE Below it says Active..(Currently..that will hopefully change soon)...that means it is available for offers

If it instead says Contingent or Pending, this means the property has an accepted offer already on it and they are under contract in escrow.

I will talk about this some more in another blog to follow...

Do you need to sell your Las Vegas Home?

 Do you want to buy a 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

I LOVE Docusign!!  Las Vegas Realtor goes Paperless trying to be as Green as much as I can when I can!

I think my clients love it too!

I'm sure many of you already know about Docusign, but if you don't you should, or maybe you use another type system.

Docusign allows you to upload documents to have clients sign electronically as long as they have email access they are can use it.

This works great for my Las Vegas Sellers, Las Vegas Buyers and Las Vegas Renters.

There is a lot of real estate documents and real estate paperwork that is involved in a Las Vegas real estate transaction that goes back and forth between agents, clients and than back to agents then back to the other client etc.. and a lot of paper, ink and time is saved by using email and having signers sign electronically and then you have a nice final all signed to print out once everyone has signed off, instead of faxing back and forth each time.

I even ask that offers be emailed as much as possible as it preserves the quality of the document as well.

It works wonderfully for my clients no matter if they are in the area or out of state.  Once signed any party can save to their desktop computer so they have a copy as well to print out any time they want.

So do your part when you can and go paperless!

Do you need to sell your Las Vegas Home?

 Do you want to buy a 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

Copyright © 2009 Dawn Barrier. All Rights Reserved.