Hi everybody,

I read this article on Tuesday and knew right away that I would be sharing it with you. I will be continually providing information and services to assist you in realizing the value that our current market has to offer.

Apr. 22, 2008
Copyright © Las Vegas Review-Journal

Going, going … not gone

Home buyers find banks holding tight on prices at foreclosure auctions

By HUBBLE SMITH
REVIEW-JOURNAL

Like many Las Vegas residents in search of a sweet deal on a foreclosed home, Mike Simpson walked away disheartened and discouraged after wasting his time at a recent foreclosure auction at Cashman Center.

He’d been looking at a house two blocks from his children’s school that had been sitting empty for two years and was being auctioned by REDC, one of several auctioneers that have blown through Las Vegas with increasing frequency, unloading hundreds of bank-owned homes at a time.

The starting bid for the six-bedroom house on half an acre near Alta Drive and Valley View Boulevard was $219,000. Simpson was prepared to offer $375,000.

To his surprise and without prior notice, the home was pulled off the auction block.

“Come to find out somebody made a deal with the bank and the deal fell through,” Simpson said. “I spent 21/2 hours there on a Saturday. Why didn’t they put it on the deletion list when I first walked in?”

He’s not the first to feel frustrated by home auctions.

“I have yet to actually meet anyone who was successful in closing escrow on an auction home,” Robin Camacho of American Realty & Property Management said. “Agents are sending REOs (real estate-owned homes) that didn’t sell to these auctions. With all the great REOs on the market, why stand around at an auction hoping that the deal will close when you are the high bidder? When the closing ratio of these auctions improve, I’ll seriously consider taking my clients.”

Dave Webb, chief executive officer of Dallas-based Hudson & Marshall, said he had a “full house” for Sunday’s auction of 160 foreclosed homes at JW Marriott. The banks approved 60 percent of the sales on the spot and Webb expects another 20 percent to be approved.

“The banks are ready to rock and roll,” he said. “If it’s a reasonable offer, they’re ready to take it. Now, they’re not idiots. They’re not going to take 40 cents on the dollar. If they’ve got a property on the market for 200 days, it’s costing the bank money to hold it every day for taxes and upkeep. So the longer these properties stay on the market, the more motivated they are.”

Webb said Las Vegas has plenty of foreclosure inventory and it’s going to last a while. The latest foreclosure statistics from Sacramento, Calif.-based Foreclosures.com showed 6,152 preforeclosure filings for Clark County in March, more than double the 2,813 filings in the same month a year ago.

One buyer who requested anonymity said real estate agents are biased in their assessment of auctions because buyers don’t need their services. She was able to buy a Pulte home in Southern Highlands at a Hudson & Marshall auction last year for $278,000, or about $102 a square foot. The bank was cooperative and did not try to “jack up the price,” she said.

Her second-choice home also closed escrow at the auction price of $283,500. It had sold a year earlier for about $500,000.

“This house was a gorgeous, huge single-story house on a cul-de-sac with big rooms, pristine high-end cabinets and carpets, a fully landscaped backyard with spa and big covered patio,” she said. “It was our second choice only because it was a farther walk to the plaza than the one we bought.”

There’s more going on at foreclosure auctions than what’s seen on the surface, said Ron Clark, chief executive officer of Rainbow Equity Investments in Oceanside, Calif. Banks that have properties for sale sometimes place “shills” in the audience to bid the price up, he said.

“Auctions can be a very treacherous place for a novice with a full-time job,” Clark said. “You walk into an arena where you’ve got some slick, sharp operators. There’s all kinds of ways to fleece the guy who’s a novice and thinks all those banks are in trouble.”

With foreclosures mounting and the housing market reeling, banks should be “humbled” and welcoming people with open doors, Clark said.

“They’re not there yet. They will be in six months or a year,” he said.

Susan Byerley of Durango Mortgage said she likes that banks are holding tight on prices and not having any “fire sales.” It’s going to be a slow movement to bring home prices down to where they need to be, she said.

“I don’t want something goofy like we had in 2004 and 2005. I just want consistency,” she said. “For many years, Las Vegas was the golden child. Everything we touch turns to gold. Now we’re seen as the stepchild.”

reporter Hubble Smith @ LVRJ

Thanks everybody,
I’m glad that you took the time to read this over. It’s crucial to remain as informed as possible during a time when there are so many remarkable deals on these bank owned properties.
With as many REO and short sales that we’ve closed over these past months, some would suppose that we had the winning formula. What we all need to understand that there is no constant… things are constantly changing. We are still seeking out new information every day to get everyone the best valued homes available.
My research team will send you all the information you need, including statistics, maps, and links to many other great articles too. Call 800-321-2065 today or email us at David@LasVeasMove.com.

Have a great weekend,
David

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call 702-376-9789 today or visit www.lasvegasmove.com
David@LasVeasMove.com

One of LasVegasMove.com’s preferred home loan consultants, Aaron Gordon, recently prepared this report regarding short sales vs. foreclosures. We are being asked many of these same questions by our clients all the time, so we have included it here for you. It covers some very timely material.

“The Credit Score Truths and Tax Myths of A
Short Sale Vs. Foreclosure”

Recently a group of loan officers at my bank were gleefully boasting about
developing a marketing strategy. They were going to be the “preferred lender” on
foreclosure tour buses.

The company had to remind them that, as a lender, to specialize in financing the
purchases of foreclosures and short sales is nothing to be joyous of. There are real
lives at stake here. Real families and the nation’s top, most respected, financial
institutions are being destroyed as a result of this mess.

These homes are the end-result of what will likely be more than a TRILLION
DOLLARS lost by banks and firms on Wall Street. To the point where, some say,
our nation’s standing as the world’s greatest economy could even be in jeopardy.

If you are a top REO salesperson or lender, yes, you should be proud of the success
you have earned in this challenging situation. However, it’s also important to
remember to keep in mind the tragedy that creates this opportunity.

When life gives you lemons you make lemonade. Much of our business today is
related to the listing, selling and financing of homes that are being sold “short” or
homes that are bank-owned as a result of foreclosure.

Foreclosures and short sales are the biggest part of many of our businesses today.
And this is what I am hearing:

“Your credit score won’t drop as much on a short sale.”

“You won’t have to pay taxes on the debt forgiveness of a short sale.”

“A short sale is nowhere near as bad as a foreclosure.”

How many of you have said any of these to you clients? Are you certain any of the
statements are true?

At this point I am sure I don’t need to tell you the difference. A short sale usually
occurs when you sell your home before it goes into foreclosure but for less than you
owe on the mortgage. A foreclosure usually occurs when the bank takes your home
for lack of payment.

Either way this is very difficult on the homeowner. A dream has been lost. They are
losing the home they live in, one they vacation in, or one they had dreams of making
money on as an investor.

This is why I am a bit troubled by the information that mortgage professionals and
real estate agents are giving their clients when discussing the decision to let the
homeowner’s property go.

First let me say this. To lose any property you have signed a personal note for, like
a mortgage, without meeting your obligation is bad….really bad.
The difference between short sale and foreclosure, like one expert put it, is like the
difference between getting hit by a bus or a train. You don’t win by doing either.
There are minimal differences on the homeowner.

#1) WILL MY CREDIT SCORE DROP LESS IF DO A SHORT SALE INSTEAD OF A
FORECLOSURE?

The short answer is “don’t count on it.” No one can answer this question for you
correctly and that is because every case is different.

The scoring model for all three of the credit bureaus is unique and the courts have
ruled time and again that they don’t have to share their methodology with the public.

How your credit will be affected all depends on how it is reported by the
homeowner’s lender. If they report it correctly, and most will, your credit is going to
be hurt badly because of it.

Let’s say I have a credit card with a major electronics store and I owe them
$5,000. Times get real tough for me and I can’t keep paying the $300 per month
interest payment, so I call them to negotiate to pay them a lump sum of $3,000 one
time to cancel my account.

If they report this correctly, it will show up as a “SETTLED” for less than owed, which
is horrible for my credit and will cause my score to plummet.

Now I call them and try to negotiate with them to report this to the credit bureaus as
“paid” and not as “settled” so it won’t hurt my credit at all. Do any of us honestly
believe the electronics store or the lender of a home will go for this?

It’s certainly worth a try. You may be saving the bank $100,000’s in a short sale
vs. a foreclosure so it’s worth asking. I know many agents are making the request
of banks on behalf of their short sale clients. However, I haven’t heard of any being
successful in this.

Keep in mind your credit score is a snapshot at the moment of your credit worthiness
and how risky you are to loan money to today. Credit score experts say a
settlement, of any kind, for less than the amount originally owned, is the same as a
collection, repossession, foreclosure, charge off, etc.

Now, this kind of settlement may be better from a lending perspective when you go
to buy your next home years from now but not from a credit score perspective.
However, that remains to be seen as well.

If you are thinking about calling your bank today to try and arrange a short sale, you
have to understand that, typically, they won’t even consider this if your payments
are current. Lenders will be more agreeable to negotiation if your payments are late
or in arrears because the risk of you failing to stay afloat is more obvious.

As soon as you are late on your first mortgage payment, your credit score is going to
nose-dive. And as each month passes, it will get worse and worse.

Now, keep this in mind as well. You have seen inquiries in the past from your credit
card companies and your insurance company for cars, house, etc. These companies
randomly check your credit from time-to-time to analyze how risky you are now vs.
how risky you were when you first became their customer.

So as soon as you start to miss those mortgage payments, your credit score will
plummet. One of your other accounts will likely run a procedural inquiry during this
period to check you out and they will now see you are a greater risk than you were
when they first gave you money. These companies have a right, based on this
change in your risk, to raise your interest rates, charge you more for your insurance
premiums, and limit your credit based on your current risk. Be prepared to have
your credit lines reduced substantially without notice.

That may make this time even more challenging for you financially.

It’s going to take a lot of positive credit activity, over a long period of time, to bring
your score back to average levels.

Even if the bank lets you enter into a short sale today although you aren’t late, which
is rare, the short sale will likely and eventually look as bad if reported correctly, even
if it reports slower.

Many short sale experts believe that it’s easier to rebuild your bad credit after a
short sale than a foreclosure, but all agree your credit will be very bad once the sale
is complete. Don’t listen to those who say your score will drop “between 80-100
points.” Plan on your score being in the 400’s to low 500’s as that’s where I see
most of them today. 670 or so is an average credit score today.

The bottom line here is the only real chance you have to save your credit is to try
and negotiate a short sale, without missing a house payment, and then trying to
negotiate with the lender to not report it as settled for less than owed.

It’s an extreme long shot, some say even impossible, but if you can pull this off, you
may have saved your credit from destruction.

#2) WILL I BE ABLE TO BUY ANOTHER HOME QUICKER IF I DO A SHORT
SALE INSTEAD OF A FORECLOSURE?

Once again, chances are no. Keep in mind; lenders make mortgage loans based on
your ability and willingness to repay the loan. We determine this based, primarily,
on your past credit history. Especially your past mortgage history.

It’s going to take some self-determination

If you couldn’t successfully live up to the terms of your last home loan, why would a
lender believe this new one will be different?

The next time you buy a house, your loan is going to have to be sold to another
investor. That investor will have guidelines for the loans they will buy. Most of
these guidelines today don’t allow home purchases unless you are at least two to
three years out of foreclosure. They look at short sales the same way.

When your next loan goes through underwriting as it always does, underwriters will
analyze your credit report. When they look at your previous mortgage trade line
and see “settled,” they are going to immediately recognize this as a short sale.

Plan on renting for two to four years before buying another home, based on today’s
guidelines, if you are thinking about a foreclosure or short sale and only if there are
very few other blemishes on your credit report over these years.

#3) IS IT TRUE I AM NOT RESPONSIBLE FOR DEBT FORGIVENESS IN A
SHORT SALE BECAUSE OF THE NEW MORTGAGE FOREGIVNESS DEBT RELIEF
ACT OF 2007?

First let say, IN BOLD, I am not a tax professional. It’s of the utmost
important that you seek the advice of a tax professional before proceeding
with a short sale or foreclosure.

The Mortgage Forgiveness Debt Relief Act of 2007 was primarily started so that
people, who were upside down in their homes, could refinance their home using an
FHA loan and then the second mortgage holder would write off some of their loan to
enable this. This kind of loan hasn’t caught on because most lenders didn’t go for it.

Now, today, some tax experts have interpreted this Act to help you get tax relief in a
short sale. So your ability to write off this debt depends on the interpretation of the
IRS and your accountant. Here is how it can work.

Let’s say you bought your home, as a primary residence, in 2005 for $300,000. You
secured 100% financing so you borrowed $300,000 and today you short-sold your
home for $240,000.

It used to be that, in a short sale, the amount of the lender’s loss could be reported
to the borrower as income, creating an income tax liability for the borrower. You
would be 1099’ed for the difference of $60,000 in this case.

This means you had to declare that $60,000 short-fall, as taxable income, to the IRS
and pay taxes on it at year’s end.

Then came this 2007 bill and now, many argue, and interpret, you don’t. This may
or may not be accurate.

HOWEVER, let’s say you bought the same home in 2005 for $300,000 and your
house went up in value to $500,000, so you took out a home equity line of $150,000
that you didn’t use to improve your home, so now you owe a total of $450,000.

Now today you short sold your home for $320,000. You will NOT likely get debt
forgiveness tax relief for the home equity line. This lender loss is now reported as
income to you, so get ready for a huge tax liability at year’s end.

For the debt to be forgiven, according to the Act, the house must have been used as
a primary. The debt must have been used to buy, build, or make substantial
improvements to the home.

Home-equity loans where the proceeds were not used to buy, build, or improve the
residence are not forgiven. Second mortgages and home equity lines used to
purchase the home can be forgiven. Also, mortgages for second homes and rental
properties do not qualify.

The bottom line here is before you do this, meet with your accountant to discuss the
ramifications. There are too many possibilities to go over here.

If you get a 1099-C form in the mail, after a short sale that looks like this,
http://www.irs.gov/pub/irs-pdf/f1099c.pdf, you need to head to your accountant
immediately.

Once again, I am not a tax professional. It’s of the utmost important that
you seek the advice of a tax professional before proceeding with a short
sale.

#4) BASED ON ALL OF THIS, WHY WOULDN’T I JUST LET MY HOME GO INTO
FORECLOSURE?

For one, because you are giving the lender a chance to recoup some of their money.
It is far cheaper for a lender to negotiate a short sale with you and your buyer than
it is to rack up attorney fees and other costs in a foreclosure.

Foreclosure can take eight months to a year and in a declining market, your decision
could cost them $100,000’s more than a short sale.

The next reason is because some believe, as we discussed earlier, it may be easier
to rebuild your credit after the process. Your credit likely be destroyed either way,
but the road back to a respectable credit score may be shorter in a short sale,
according to many experts.

Finally, and probably the top reason for a short sale, is depending on what kind of
loan you have, and in what state, the lender may be able to go after you personally
for a deficiency judgment at a later date. In Nevada, lenders have three months
after the sale to try and obtain a deficiency judgment.

This means if you owed $300,000 and he was only able to sell your home for
$150,000, he may be able to come after you for the $150,000 difference plus legal
fees and more, which could force you into bankruptcy.

There are only two ways out of a deficiency judgment; pay it or bankruptcy. Many
lenders and real estate agents are wrongfully advising their clients by saying that
“banks rarely come after you.”

It’s mostly true that banks don’t come after you but they can sell the obligation to
aggressive, debt collectors for pennies on the dollar.

For example, let’s say you were foreclosed on and the deficiency after sale was
$100,000 and the bank gets a deficiency judgment against you. You owe them
$100,000. They don’t have the manpower to collect on everyone today so they sell
this debt to the Law Firm of John Q. Collector for $5,000-$10,000. Whatever the
firm collects, they keep. I can assure you there are firms out there today trying to
get lenders to secure deficiency judgments so they can buy these notes.

Aggressive Law Firms that specialize in collections can go after you with everything
they have to collect this debt or force you into BK. Because this is a judgment,
enforceable in a court of law, they can possibly seize your assets and garnish your
wages.
In addition, second lien holders, like the ones who gave you the 20% on your 80/20,
who usually don’t get anything at all in a foreclosure, like a house to liquidate, can
still likely come after you for the Note you signed with them for years.

The bottom line is you should try and do anything possible to try and avoid a short
sale or foreclosure like a loan-workout program.

The banks are very negotiable today and mostly want to try and help you stay in the
home. In fact, I am hearing through the grapevine that many large banks, in the
very near future, are contemplating rejecting all short-sale offers on homes that are
not owner-occupied.

Loan workout programs should be your first option.

To receive your free copy of Aaron Gordon’s report
entitled, “Help Your Past Clients Save Their Home from Foreclosure”,
click here

Have a great weekend!

David

Hello again everybody,

WOW! The DMV has really come a loooooong way!

Today I spent my morning trying to register a new vehicle and get my driver’s license up-to-date. I must admit, I was not looking forward to it. Who ever enjoys a trip to the Department of Motor Vehicles? From my first trip as a nervous 15 year old and every visit since then, I learned to prepare for frustration, futility, and mind-numbing boredom.

Well I am happy to say those days are gone, hopefully forever. I was in and out in less than 2 hours and everybody was courteous and professional. Even the other persons that waited with me were nice to be around.

The key, I think, was preparation. I had all my paperwork in order and I knew what to expect because I had visited their website, which can be found here: Nevada DMV

With so many residents moving here every month, I thought it would be nice to publish this information for them:

New Resident Tip Sheet

New residents have 30 days to obtain a Nevada Driver License and 60 days to obtain Vehicle Registration. The fine for failing to register your vehicle is $250 - $500.

Items Needed for Typical Transfers
DRIVER LICENSE
• Your Valid, State-Issued Driver License or ID Card
This must contain your name and date of birth. If your license is expired, suspended or revoked, contact us to determine what you need to do. You must surrender this and it will be returned to your previous state for cancellation. You must also provide additional proof of identity as outlined below.
• Proof of Your Social Security Number
If your social security number is not printed on your driver license, you will need to bring your social security card or other proof of your number.
• Additional Proof of Identity
We do not accept other states’ licenses, instruction permits or ID cards as proof of identity. Please bring one of the documents listed in addition to your license, permit or ID card.
Proof of Identity Documents
Certified U.S. Issued Birth Certificate or Certified Abstract (hospital copies are not accepted)
U.S. Passport
U.S. Military Identification or Military Report of Separation
Certificate of Citizenship or Naturalization
Certificate of Degree of Indian Blood
Consular Report of Birth Abroad
Permanent or Temporary Resident Card
Resident Alien Card or I-551 Receipt
Valid Foreign Passport stamped “Processed for I-551”
Arrival-Departure Record (I-94) with Visa or Passport
Permit to Reenter the U.S.
Refugee Travel Documents
Maiden Names/Name Changes - You must present documentation of any name change if you will be presenting a proof of identity document that does not contain your current legal name. This may include a marriage certificate, divorce decree, adoption records or court order. See Name Changes.

All documents must be originals. We do not accept photocopies. If you cannot meet these requirements, contact us before applying for a license, permit or ID.
Residents of all U.S. territories and foreign countries must meet the Proof of Identity requirements and take vision, knowledge and skills tests.

VEHICLE REGISTRATION
• Nevada Proof of Liability Insurance
Out of state insurance is not acceptable. Make sure the name(s) on your insurance and registration match exactly. Motorists who do not maintain coverage from a Nevada-licensed carrier are subject to a registration suspension and reinstatement fee. You must notify your agent or company that you have moved to Nevada or purchase a policy here.
• Nevada Smog Check Certificate (If Needed)
Emissions inspections are required on gasoline and diesel powered cars and trucks, 1968 and newer, based in and around the Las Vegas and Reno areas. New vehicles are exempt on their first and second registrations. Diesel vehicles with a manufacturers gross vehicle weight rating over 10,000 pounds gross vehicle weight are also exempt. You must have the test completed in Nevada.
• Your Current Registration Slip(s)
Nearly all trailers must be registered and titled.
• Title(s), Unless Held By Lien holder
You have the option of retaining your out-of-state title. We strongly suggest getting a Nevada title if possible.
• VIN Check(s)
Vehicle Identification Number inspections are done at DMV offices. At larger offices, drive to the inspection station outside the main office first. In the Minden area, visit an Authorized Inspection Station.
• Your Out-of-State License Plates
Bring them into the office with you.
• Fees - Cash, Check, Money Order, E- Check, Visa, MasterCard, Discover, Amex
Use our online fee quote service for an estimate of registration fees, which are partially based on vehicle value. Have your VIN ready and click here or log on to www.dmvnv.com.

Driving Tests
All applicants take a vision test. Other tests will be waived if:
• You are age 25 or older and have no special restrictions, and
• Your out-of-state license is valid and you are applying for the same class of license, and
• You have no more than 2 moving violations, no suspensions, revocations, cancellations or denials in the past 4 years and no DUI conviction within the past 7 years.
If you do not meet all of these requirements, you will have to take a written test and possibly a skills test. All license applications are checked through the national Problem Driver Pointer System.

Special driver license testing and endorsements are required to tow multiple trailers or trailers in excess of 10,000 pounds.

Motor Voter
You can register to vote while applying for your driver license.

Handicapped Parking
Nevada issues a placard which can be used on any vehicle or special license plates. The disabled resident must obtain a DMV application and have it signed by a licensed physician. See License Plates. Temporary placards are also available for short-term disabilities.

Personalized/Specialty License Plates Personalized plates are limited to 7 letters and/or numbers. Specialty plates are available for Nevada universities, veterans, Purple Heart recipients, Ex-Prisoners of War, classic cars and a number of special groups and charitable causes. You may order personalized plates in advance of moving to Nevada. Visit our web site for details.

Motorcycles & Mopeds
Motorcyclists are required to wear helmets and possess a Class M license. Nevada transfers most motorcycle endorsements.
Mopeds 50cc or less, with less than 2 horsepower, do not have to be registered and you do not need a Class M license. However, you must have a valid Class C or higher license.

Boats
Water vessels are registered with the Nevada Division of Wildlife. Trailers are registered with DMV.

Contact DMV

Web Site www.dmvnv.com
E-Mail info@dmv.state.nv.us
Telephone
Las Vegas Area and 24-Hour Recorded Info (702) 486-4368
Reno/Sparks/Carson City (775) 684-4368
Rural Nevada (Toll Free) (877) 368-7828
TDD for the hearing impaired only (775) 684-4904

I hope you found this useful.

Sincerely,

David

Spotting Rogue Movers Before They Have Your Goods

The Better Business Bureau System logged more than 9,000 complaints in 2006 against movers. While there are thousands of reputable moving companies, there are times when the experience is not so positive.

Rogue movers can be hard to spot. They often give low-ball estimates over the phone or Internet without ever visiting your home or seeing the items you want to move. How can they possibly know how much to charge you sight-unseen?

Once your household goods are on their truck, they demand more money before they will deliver or unload them. Consumers tell the Better Business Bureau that their goods have been held hostage and many have been forced to pay more than the initial estimate in order to get their goods back.

The Better Business Bureau and the Federal Motor Carrier Safety Administration suggest that your best defense is to recognize a rogue mover before they have your household goods. Here are some “red flags” to look for:

• The mover or broker does not offer or agree to an on-site inspection of your household goods. They only give you an estimate over the phone or Internet. The estimates often sound too-good-to-be-true. In reality, they usually are.

• The moving company’s only form of acceptable payment is cash or a large deposit before the move.

• The company’s Web site has no local address and no information about licensing or insurance.

• The company claims all goods are covered by their insurance.

• The mover does not provide you with a copy of “Your Rights and Responsibilities When You Move,” a booklet movers are required by Federal regulations to supply to their customers in the planning stages of interstate moves.

• Offices and warehouse are in poor condition or nonexistent.

• On moving day a rental truck arrives rather than a company-owned and marked fleet truck.

The Better Business Bureau advises consumers to:

• Obtain a cost estimate in writing, preferably after a walk-through of your home or apartment.

• Don’t select a mover based on price alone. In many cases, you get what you pay for.

• If you have a bad feeling about your mover’s tactics or charges, stop the move before your household goods are loaded on the truck.

Start planning your move by reviewing Better Business Bureau business reliability reports at www.Better Business Bureau.org to help you find trustworthy carriers before making any hiring decisions or signing any contracts.

David

So, this is great news for both buyers and sellers. For buyers, 30 year fixed mortgage rates were right around 6% today. . . . That is the lowest rate in quite some time. And with the potential bottom of the market occurring right now, there may never be as good a time to buy a home in Las Vegas as in the next few months. . . . While inventory is still high and you can pick the very best home for you.

For sellers, it may only be a short time before prices stabilize and begin to make a move in the upward direction. In fact, according to Murphy and Bottfeld, new home prices actually increased in August, which is yet another sign that the situation in the market is possibly reversing.

So, if you are thinking of buying, it may be time to get serious. Contact us today to learn about our David Brownell Team Best Buys List. Our Team digs deep and discovers the absolute best deals available in our marketplace, both new and resale homes. We offer the list (which is updated every other day) to all our prospective clients. These deals are so great that they are on the market for only a few days. . . .Yes, even in this “down” market.

And if you are thinking of selling, contact us to learn what you need to be doing to make sure you will sell for top dollar, even during these difficult times. In fact, we have a Special Report that I prepared, specific to the Las Vegas market entitled “How to Sell Your Las Vegas Home for Top Dollar. . . .Even in this Down Market.” Request your copy today!

We can be reached on our office number (702) 220-9696 or toll free (800) 321-2065. Or alternatively, you can email me directly at David@LasVegasMove.com.

Have a great day!

David

P.S. I have attached an internet article regarding the interest rate adjustment that occurred today. Enjoy.

Sep 18, 3:03 PM EDT

Federal Reserve Cuts Key Interest Rate

By MARTIN CRUTSINGER
AP Economics Writer

WASHINGTON (AP) — The Federal Reserve cut a key interest rate for the first time in four years, seeking with an aggressive half-point move to prevent a steep housing slump and turbulent financial markets from triggering a recession.

The Fed announced Tuesday that it was reducing its target for the federal funds rate, the interest that banks charge each other, from 5.25 percent to 4.75 percent. The half-point reduction was double the quarter-point move that many economists had been expecting.

The action was designed to boost economic growth by lowering borrowing costs for millions of consumers and businesses. Commercial banks were expected to quickly match the Fed’s action by cutting their prime lending rate. The prime rate has been at 8.25 percent for the past 15 months.

The Fed’s action came in the midst of the worst slump in housing in 16 years. That downturn has triggered record defaults in sub-prime mortgages and roiled financial markets around the globe as investors have become worried about where the spreading credit problems will next appear.

The financial market turmoil represents the first major test for Fed Chairman Ben Bernanke, who took over from the venerable Alan Greenspan in February 2006.

In addition to cutting the federal funds rate by a half point, the central bank also reduced its discount rate, the interest it charges in making direct loans to banks, by a half-point as well.

The Fed had also cut the discount rate on Aug. 17 as it scrambled to respond to the growing credit crisis.

In explaining its action Tuesday, the Fed said that “the tightening of credit conditions has the potential to intensify the housing correction and to restrain economic growth more generally.”

Back to School… 

‘Back to school’ time can be very exciting… it can also be very stressful for both parents and children alike. There are lots of new faces and new routines, not to mention the pressure of getting good grades and social peer-pressure too.

In an effort to make your child’s transition into a new school, a new district, or a new grade as easy as possible, the David Brownell team has compiled a list of some great links to make it as seamless as possible.

Look through these links and see what you can find. Undoubtedly you will discover a gem or two that you hadn’t thought of before.

If you know any good websites which touch on this issue, please feel free to make a comment and leave us the link. We’ll be happy to add it to our list. 

Back To School Information 

Enrollment Information 

Student Standard Attire Requirements 

Check your School For Attire Requirements 

AAP Back To School Tips 

‘Going Back To School’ From KidsHealth.Org 

Tips To Help Your Kids Adjust 

Back To School Transportation Safety Tips 

Shop For Back To School Supplies           

And of course we all need to please remember that the School-Zone lights will soon be flashing again and that means we all need to drive just a little bit slower. 

Megan

I came across a great article this week that answers a question we hear from many of our clients recently;

“What should we remodel to help us get more for our home when we sell it?”

The article listed 10 things that will add value to your home. But then the article went even further and listed 10 that will detract from the value. I had never really thought about it from that angle before. I was intrigued.  I was surprised by a few on the list.

For those who are interested, I have included the link below.

20-Things-That-Can-Alter-the-Value-of-Your-Home 

If you, like so many others, have questions like this but are having a tough time finding an answer, please feel free to email me at David@LasVegasMove.com or call us toll-free at (800)-321-2065  

My research team will send you all the information you need, including statistics, maps, and links to many other great articles too.

This is just another way we strive to be your real estate team for life.

Have a great day!

David 

Want to know the level of “walkability” of your home? 

Just type in your address at www.Walkscore.com and it will rate your home on a scale of 1 to 100.

What is “walkability”?

www.Walkscore.com takes into account shopping centers, restaurants, libraries, and coffee shops. Movie theaters, churches, parks, and all kinds of other fun places you love to visit. 

Recent research shows that residents of walking-friendly neighborhoods weigh, on average, 7 pounds less than the not so walking-friendly neighborhoods. Neighborhoods are also safer, friendlier, and cleaner.

Residents of walkable neighborhoods drive less and suffer fewer car accidents.

You can also find the walkability of some famous places such as The Soprano’s House, The White House, and Friends apartment building.  Fun!

The future is coming fast. Soon we will all have to learn to be green. Why wait? Start walking now and discover the positive effect it will have on your life and your environment. 

Megan