las vegas homes: Proposed FHA guidelines may stymie Las Vegas home buyers - 12/07/09 07:23 PM
Buyers of Las Vegas homes need to be aware of several proposed changes to FHA guidelines that may soon be implemented buy the Federal Department of Housing and Urban Development which will impact their purchasing power. It is estimated that more than 71% of FHA's losses over the next five years will come from existing loans, prompting HUD to re-evaluate criteria for new loans in an effort to minimize further losses.Proposed changes to the current guidelines could include:* Reduce the maximum seller contribution towards buyer closing costs from 6% of the purchase price to 3%. The current level exposes the FHA … (0 comments)

las vegas homes: Can Las Vegas Foreclosure Listing Agents Avoid Disclosure - 11/17/09 04:04 PM
Here is a letter recently sent to us by Paul Donohue of Spectrum Inspections, one of the leading home inspection companies in the Las Vegas Valley. As usual, Paul keeps us informed of ongoing inspection issues that we, as Las Vegas real estate agents, need to be aware of. Paul sent us the information below just this past week which raises an interesting question: What responsibility do REO listing agents have to disclose defects that they are aware of? Recently REO agents have been hiding behind the "as is, where is" clauses inserted by sellers (banks) into their contracts. But this … (0 comments)

las vegas homes: Deed for Lease Gives Second Chance for Las Vegas Homeowners - 11/07/09 12:31 PM
For Las Vegas home owners who have been unable to qualify for a loan modification and are facing foreclosure, a new Fannie Mae program would at least allow them to stay in their homes for up to a year if they are willing to sign over their homes to the bank on a deed in lieu of foreclosure. The bank would then lease the house back to the borrower at current market rate for up to a year. After the initial lease period expires, there's the possibility that the bank would extend the lease on a month to month basis.
The … (2 comments)

las vegas homes: Existing Homeowners Happy about Extended Tax Credits! - 11/06/09 09:00 PM
Las Vegas real estate agents and homeowners alike are celebrating the news! It looks like the first time home buyer tax credit will be extended through April 30th of 2010, and more buyers than ever before are now eligible to take advantage of the new credit guidelines. Income caps have been raised from $75,000 to $125,000 for individuals, and from $150,000 to $225,000 for couples.  In addition, move up homeowners are going to get a piece of the pie as well. Any homeowner who has owned his home longer than five years can get up to a $6500 credit on the … (0 comments)

las vegas homes: Financing for Foreign Nationals Discontinued - 10/24/08 02:22 AM
Once again the mortgage lending guidelines have changed with the wind. For a brief period there was a window for foreign nationals to obtain mortgage financing on investment and second homes in the United States with down payments as low as 25%, but now that window has been slammed shut along with a host of other "make sense" loan programs. (Don't even get me started on condo hotels that can't be financed by anyone with even 50% down!)Many of the foreign nationals who contacted us in recent weeks were willing to put down as much as 30% to 40% or even … (0 comments)

las vegas homes: Las Vegas Home Inspections - 09/28/08 08:50 PM
I really must begin by thanking Diann Tonnesen for offering to allow me to blog on her site. In case you're not aware Diann is somewhat of an icon in the Las Vegas real estate community. To be offered to provide input for her web site is truly an honor. Thank you, Diann.Diann told me that I could write about anything I wanted to write so I chose something that has been needling me for quite some time now; the way people shop for a Las Vegas home inspector. Do you realize how most people shop for a home inspector? They … (0 comments)

las vegas homes: Good News for Cosmopolitan Contract Owners! - 09/07/08 06:40 PM

To the right, the Las Vegas Cosmopolitan Condos and theBellagio Hotel and Casino, to the left the MGM CityCenter project.Phot0 taken September 5th, 2008.Many proposed high rise condo projects around the country have had the plug pulled in the past two years due to cost overruns and tightening credit. Since Deutsche Bank announced they were beginning foreclosure proceedings on the Las Vegas Cosmopolitan condo hotel project at the beginning of 2008 on their $760 million dollar loan, over 1800 contract owners have been holding their breath, wondering if the development would be completed. Or if they would get their money … (0 comments)

las vegas homes: Las Vegas - Letter to Anthem Country Club Homeowner's Association - 06/08/08 06:57 PM
Fellow Anthem Homeowners:
Unfortunately, like most homeowners in Anthem Country Club, I have left it to others to determine the fate of our community, trusting that those who choose to volunteer will always act in our best interests. Volunteering for a seat on an HOA board is usually a pretty thankless task, and I rarely criticize decisions that are made by those volunteers. I give them a lot of credit for putting in many hours of unpaid labor on our behalf. Plus these are our friends and neighbors, and I enjoy the company of those Board members that I know on … (1 comments)

las vegas homes: Making an Offer Subject to a Short Sale on Las Vegas Homes - 04/01/08 03:13 AM
Of all the types of distressed properties, shortsales are probably the hardest to close escrow on. Often the seller is still living in the property. He or she may have invested their life savings making a down payment that has disappeared with a declining market. They are upset that they are losing their home and fearful, as they will probably have little or no money to make a move with. Plus their credit is shot and there are few landlords that will even consider renting to them without a substantial deposit. Of course, if they had a substantial deposit, they could … (1 comments)

las vegas homes: Differences Between Short Sales and Bank REOs or Repos - 03/27/08 04:17 AM
As you know, it is a great time to be a "buyer" in our Las Vegas real estate market.  Pricing on homes is almost back to the 2005 level, with many of them reduced to be "moved" by the banks. Bank repos, also known as REOs (real estate owned), are properties that have already been foreclosed upon by the bank. They may be in pretty rough condition, and it is very common for the landscaping to be completely dead and have to be replaced. They are sold "as is, where is" with no warranties. But in some cases you can make your offer contingent … (0 comments)

las vegas homes: 2008 Already Shaping up to be a Better Year for Las Vegas Real Estate - 03/25/08 02:08 AM
The year 2007 was a rude awakening for owners of Las Vegas homes who found their properties steadily decreasing in value. Prices between November 2006 and November 2007 declined an estimated 10% and many of those who bought real estate during 2005 and 2006 found themselves owing more than their properties were worth. Las Vegas foreclosures led the nation and Las Vegas auctions had hundreds of properties to bid on.But already in the last few weeks of December and the first few months of 2008, we can feel the scared-to-death-by-the-media buyers of 2007 coming out of hibernation, shaking off their fears and … (0 comments)

las vegas homes: Streamline Towers Almost Ready to Open - 03/22/08 06:49 PM
Streamline Towers Luxury Condos are open for sales and starting to close with theri first lucky homeowners! Call 702-985-7654 for more information and updated pricing.While media attention has so far been concentrating on the glitzy new high rise developments going in along the Las Vegas Boulevard resort corridor, Mayor Oscar Goodman's redevelopment of the "Old Strip" along Fremont Street into a San Diego style gas light district may make downtown condos the next "hot buy!" For both investors and owner occupants alike, the Streamline Towers project could be a dream come true.The Las Vegas downtown casino area is in the midst of … (0 comments)

las vegas homes: Amazing Deals on Units Available Pre Closing at the Palms - 03/22/08 05:39 PM
Even at the Palms Place, where most buyers were the young and the wealthy with cash to burn, there were some buyers that knew a good investment when they saw it. They took the plunge and plunked down a 20% deposit on one of the elegant Palms Place condo hotel units hoping to make a bundle by the time the property was built.
Unfortunately in the meantime the national economy stalled and the Las Vegas real estate market dropped. Now, almost four years later, many of these same buyers are unable to obtain financing in the aftermath of the subprime market debacle. … (0 comments)

las vegas homes: Las Vegas Foreclosures and Auctions - Free Seminars on Buying a Dream Home, Not a Nightmare! - 03/20/08 04:33 PM
Everyone in the housing market these days is looking for a "steal." But around the country purchasers are finding that buying a property through foreclosure or at auction is not an easy process. There is no standardized format for purchasing, and banks and auction houses are selling these properties "as is, where is." So "buyer beware" is certainly applicable.
Las Vegas -  (PRWeb) Currently the number of Las Vegas foreclosures is among the highest in the nation, and foreclosed inventory on the market has driven down prices in the Valley substantially from the all time highs of 2005. Investors are returning … (0 comments)

las vegas homes: General Las Vegas Real Estate Update - 03/19/08 10:44 PM
Today's blog is bits and pieces of things that are currently going on in the Las Vegas real estate market.Clark County commissioners have given final approval to plans for the $6 billion Las Vegas Plaza Hotel and Casino Resort (modeled after The Plaza Hotel in New York) to be built on the site of the former Frontier Hotel and Casino. Despite earlier rumors that the project was stalling due to a shaky credit market, Elad chief Miki Naftali said the project was "forging ahead as planned." Elad also owns The Plaza in New York and a Las Vegas spokesman for the … (0 comments)

las vegas homes: When Should You Lock your Loan Rate? - 03/18/08 02:25 AM
It's not bad enough that buyers are already leary of the the general Las Vegas real estate market. Borrowers also wonder if they should lock in interest rates on their new Las Vegas homes when they first apply for a loan, or should they wait and see where the market goes. My standard response is that my crystal ball is broken, and that if I really knew the answer, I would be playing the international money markets. I have literally heard every lender in town swear that rates were going down and all of a sudden they went up, and visa … (0 comments)

las vegas homes: Tenants Beware of Deadbeat Landlords! - 03/16/08 12:48 PM
It is happening all over the country - unsuspecting tenants are returning home from work to find an eviction notice on the front door. The bank has aquired the property through foreclosure and the tenant has to get out of their current home within 30 days. The tenant almost never is able to recoup any of the rent money paid or get the security deposit back.And in a market rife with vacant homes for sale, Las Vegas has more than its fair share of deadbeat landlords and unscrupulous property managers. Almost half of the 19,000 homes currently listed are Las Vegas … (1 comments)

las vegas homes: Refinancing Your Home Profitably - 03/14/08 08:50 PM
For homeowners who thought the federal tax refund checks were a nice surprise, you may be a candidate to save a lot more than a few hundred dollars. Fixed interest rates are still at very affordable levels, so it may pay to pull out your mortgage note and do a bit of comparing. Especially if you have an adjustable rate mortgage that is getting ready to go to a higher level. Refinancing may also allow you to avoid becoming a Las Vegas foreclosures statistic!But before you jump on the refinance bandwagon, here are a few "dos" and "don'ts" that should help … (1 comments)

las vegas homes: EcoBrokers Take Home Buying to a New Level - 03/14/08 08:49 PM
For those that are energy conscious, a new breed of real estate agent has been born: the EcoBroker. EcoBrokers are educating the public on ways to make their existing Las Vegas homes more energy efficient, showcasing Las Vegas new homes builders who build eco friendly homes and giving advice on ways to make our lifestyles more eco efficient.EcoBroker is a program designed to help people find real estate that embraces energy efficiency and sustainable design. EcoBroker trains real estate agents in green building and home technologies and practices so that they can help buyers find green homes and assist sellers to … (0 comments)

las vegas homes: Builders Predicting Another Major Las Vegas Boom! - 03/14/08 08:46 PM
Despite the decline in the Las Vegas homes market over the past two years, even major builders who have been the hardest hit are predicting that the bottom has been hit and another mini boom coming!Fueling that boom will be the literally tens of thousands of jobs provided in the new mega resorts Fountainbleau, MGM City Center and Echelon as well as the millions of baby boomers set to retire over the next 15 years who are looking for a warm tax free climate. Many have given up on Florida where insurance is prohibitive and Texas where the humidity can be … (0 comments)

 
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The Tonnesen Team

Put a #1 Team to Work For You!

Las Vegas, NV

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Berkshire Hathaway Home Services Nevada Properties

Address: 3185 St Rose Parkway Ste 122, Henderson, NV, 89052

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