Short Sales in Las Vegas

The Myers Team | Las Vegas Short Sale Experts

Las Vegas Short Sales May Actually Get Shorter

Las Vegas, Nevada — With rules that take effect next month, federal regulators have hopes of greatly streamlining the short-sale process.

Starting June 15, the Federal Housing Finance Agency, which regulates Fannie Mae and Freddie Mac, will require both agencies to give short-sale buyers a final decision within 60 days. (In a short sale, a lender agrees to accept less than the balance on a mortgage.)   Fannie and Freddie must also respond to initial requests for a short sale within 30 days of receiving the buyer’s submission.

“Short sales are huge right now,” said Peter Spino, the foreclosure services manager for Community Housing Innovators in White Plains, N.Y., a housing counselor certified by the Department of Housing and Urban Development. Distressed homeowners often prefer them to a foreclosure, he noted.

Expedited sales as a result of the new directive will benefit the entire housing market, said Michael McHugh, the president and chief executive of Continental Home Loans and the president of the Empire State Mortgage Bankers Association, a trade group. They could also remove some risks for buyers — many of whom previously had to wait months for a decision and then ended up not getting the house they wanted.

In March, the most recent month for which data were available, short sales represented more than 14 percent of existing home sales, according to CoreLogic, a data analytics company, compared with 12 percent for all of 2011 and about 10 percent in 2010. And as the number of short sales has risen, foreclosures have fallen. Completed foreclosures represented 25.3 percent of home sales in March, versus 34.9 percent in all of 2011 and 42.7 percent in all of 2010.   Lenders favor short sales because they are less costly and more efficient than foreclosures. Yet the homeowners, trying to exit as gracefully as possible, never know how long the process will take or how badly their credit will be hurt.

A recent report named The Myers Team the #1 Short Sale Realtors in Nevada.  Number one status was determined by actual short sale listings closed from January 1, 2007 through December 31, 2011.

According to the report, The Myers Team with the Caliber Realty Group has negotiated more short sale approvals and closed more short sale listing transactions than any Realtor or Broker in Las Vegas.   The Myers Team is nationally recognized as one of the most influential figures in Real Estate today.  According to Myers Team owner, Bill Myers, “Surrendering a home worth half of what you owe is NOT a failure, it’s a business decision.  A short sale is an opportunity for you and your family to take control and walk away free and clear. Nobody wants to lose their home; however, loan modification doesn’t work and there is no need to go down with a sinking ship.  Homeowners need to know when to say enough is enough.”

Bill and Francoise Myers have helped hundreds of Las Vegas families avoid foreclosure.  Myers said, “Sellers facing foreclosure must remember that banks are not looking out for you or your family.  When you work with The Myers Team, our job is to get between you and the bank.  We represent our clients, NOT the banks.  It is our job to negotiate the best possible outcome.  Ultimately, our job is to take away the stress, and make the transaction as smooth and stress-free as possible.”

Visit The Myers Team web site at http://www.NevadaShortSaleInfo.com

Also visit http://www.VegasShortSaleInfo.com

Las Vegas Short Sale Video

Las Vegas Short Sale Video

Las Vegas Short Sale Experts | Las Vegas Myers Team

Experts Predicting Continued Short Sale Growth for Las Vegas

Las Vegas, Nevada — With new deadline requirements set by the Federal Housing Finance Agency (FHFA) looming on the horizon, short sales are expected to increase after an already active first quarter.

According to RealtyTrac’s Q1 2012 U.S. Foreclosure Sales Report, pre-foreclosure sales (most often short sales) reached their highest level in the first quarter of 2012 than they’ve seen since 2009. The report went on to show that pre-foreclosure sales accounted for 12 percent of all sales during the first quarter of 2012, up from 10 percent in Q4 2011 and 9 percent in Q1 2011. Third parties purchased a total of 109,521 pre-foreclosure homes in the quarter, an increase of 16 percent from the previous quarter and 25 percent year-over-year.

Pre-foreclosure homes that sold in 2012’s first quarter took an average of 306 days to sell after starting the foreclosure process, a decrease from 308 days in the previous quarter but up from 256 days in the first quarter of 2011. The FHFA issued guidelines in April that will require servicers to make a decision within 30-60 days of receiving an offer on a property under a short sale program. The new deadline requirements, which go into effect June 15, comes as a welcome change to buyers and sellers who felt that servicers were taking too long to complete sales.

The report also showed that pre-foreclosure sales prices have been falling. In first-quarter 2012, the average sales price of a pre-foreclosure home was $175,461, down 4 percent from the previous quarter and 10 percent from first-quarter 2011. This price was the lowest quarterly average price in the history of the report, which goes back to the first quarter of 2005. It was also 21 percent below the average price of a non-foreclosure home, up from a 19 percent discount in Q4 2011 and a 16 percent discount in Q1 2011.

“Foreclosure-related sales picked up in the first quarter, particularly pre-foreclosure sales where a distressed homeowner is selling to avoid foreclosure—typically via short sale,” said RealtyTrac CEO Brandon Moore. “These pre-foreclosure sales hit a three-year high in the first quarter even as the average pre-foreclosure sales price dropped to a record low for our report. Lenders are approving more aggressively priced short sales, which in turn is resulting in more successful short sale transactions.”

A recent report named The Myers Team the #1 Short Sale Realtors in Nevada.  According to the report, The Myers Team with the Caliber Realty Group has negotiated more short sale approvals and closed more short sale listing transactions than any Realtor or Broker in Las Vegas.  Number one status was determined by actual short sale listings closed from January 1, 2007 through December 31, 2011.

The Myers Team is nationally recognized as one of the most influential figures in Real Estate today.  According to Myers Team owner, Bill Myers, “Surrendering a home worth half of what you owe is NOT a failure, it’s a business decision.  A short sale is an opportunity for you and your family to take control and walk away free and clear. Nobody wants to lose their home; however, loan modification doesn’t work and there is no need to go down with a sinking ship.  Homeowners need to know when to say enough is enough.”

Visit The Myers Team web site at http://www.NevadaShortSaleInfo.com

Also visit http://www.VegasShortSaleInfo.com

Las Vegas Short Sale Brokers | Las Vegas Nevada

*Above production is based on results from January 1, 2007 through December 31, 2011 (short sale listing ends only.) The information provided is obtained from public records, it is deemed reliable but not guaranteed.

 

Las Vegas Short Sale Experts | The Myers Team

 

Las Vegas Short Sale Experts | Las Vegas Myers Team

Las Vegas Short Sale Services | Experience Counts

Las Vegas Short Sales

Las Vegas, Nevada — In the distressed Las Vegas housing market, many Realtors and Attorneys are calling themselves short sale experts; however, many of these self-proclaimed experts have little or no experience closing short sale transactions. What criterion constitutes an expert?

A recent report named The Myers Team the #1 Short Sale Realtors in Nevada.  Number one status was determined by actual short sale listings closed from January 1, 2007 through December 31, 2011. According to the report, The Myers Team with the Caliber Realty Group has negotiated more short sale approvals and closed more short sale listing transactions than any Realtor or Broker in Las Vegas.  The majority of these closings have been short sales with Bank of America.

The Myers Team is nationally recognized as one of the most influential figures in Real Estate today.  According to Myers Team owner, Bill Myers, “Surrendering a home worth half of what you owe is NOT a failure, it’s a business decision.  A short sale is an opportunity for you and your family to take control and walk away free and clear. Nobody wants to lose their home; however, loan modification doesn’t work and there is no need to go down with a sinking ship.  Homeowners need to know when to say enough is enough.”

Many Realtors proclaim themselves to be short sale experts; however, according to Myers, “A Realtor in Las Vegas can become a Certified Short Sale Expert by attending a one day class at the Board of Real Estate.  The ability to be called an expert in any field should be based upon performance and consistent results; not based upon attending an afternoon seminar.” Myers added, “This would be the same as declaring yourself a ‘home run expert’ after attending a one-day baseball class yet never picking up a bat or actually hitting a ball.”  The Myers Team has continually broken sales records, and when it comes to short sale transactions, they are considered by most experts to be industry leaders.

The Myers Team was an award winning Real Estate team at Century 21 for nine years; however, in 2011 they joined forces with the Caliber Realty Group.  According to Myers, “Our Real Estate market has changed; however, most Real Estate companies have not. While most Real Estate Brokers are still learning how to do short sales, the Caliber Realty Group is backed by ownership that has been dealing with Banks and Loss Mitigation Departments for almost three decades.” Additionally, Myers said, “A short sale is one of the most complicated transactions in residential Real Estate and experience is everything.  If you needed open-heart surgery, would you go to jack of all trades physician, or would you visit a heart specialist?  The Caliber Realty Group specializes in short sale transactions. This experience allows Caliber Realty to provide a higher caliber of service and stand out in today’s unique Real Estate market.”

Bill and Francoise Myers have helped hundreds of Las Vegas families avoid foreclosure.  Myers said, “Sellers facing foreclosure must remember that banks are not looking out for you or your family.  When you work with The Myers Team, our job is to get between you and the bank.  We represent our clients, NOT the banks.  It is our job to negotiate the best possible outcome.  Ultimately, our job is to take away the stress, and make the transaction as smooth and stress-free as possible.”

Visit The Myers Team web site at http://www.NevadaShortSaleInfo.com

Also visit http://VegasShortSaleInfo.com

Experienced Las Vegas Short Sale Realtors

*Above production is based on results from January 1, 2007 through December 31, 2011 (short sale listing ends only.) The information provided is obtained from public records, it is deemed reliable but not guaranteed.

 

Las Vegas Short Sales | The Myers Team

 

Las Vegas Short Sale | The Myers Team

 

Short Sales in Las Vegas | Nevada Laws Set To Change

Las Vegas, NV — If you’ve been thinking about doing a short sale on your Nevada home, you might want to hurry up.  The time is limited for homeowners who want to ensure they aren’t hit with a big tax bill because they had to walk away from a mortgage obligation.  The Mortgage Forgiveness Debt Relief Act is set to expire on December 31, 2012.

At the height of the housing crisis, Congress passed the Mortgage Forgiveness Debt Relief Act of 2007, designed to provide some consolation to folks who had lost their homes.

In summary, the Mortgage Forgiveness Debt Relief Act states that if you borrow money (up to $2 million dollars) from a bank or a commercial lender and the lender cancels or forgives the debt (a.k.a. Short Sale) then you are not responsible for paying taxes on the forgiven amount.  This applies only to primary residences, NOT investment properties.   The Mortgage Forgiveness and Debt Relief Act applies to debt forgiven in calendar years 2007 through 2012.  It has not yet been determined if the Mortgage Forgiveness Act will be extended past 2012.

Upon the completion of a successful short sale transaction, your bank is required by law to provide the IRS with a Form 1099-C.  The 1099-C will show the IRS the amount of debt which was cancelled or forgiven.  Before December 20, 2007, (this is the date which the Mortgage Forgiveness Debt Relief was enacted) the amount of forgiven debt was considered to be taxable income.  This is no longer the case for primary residences; however, all this could change if the Mortgage Forgiveness Act is not extended.

One of the most frequent questions we are asked regarding short sale transactions involves the tax consequences of these situations.  There is a tremendous amount of mis-leading and “completely false” information floating around on the internet.   Of course as a Realtor, we are not licensed to give tax advice, and thus will strongly suggest that you always consult with a licensed CPA or attorney when dealing with these matters; however, please click the attached link to view the Mortgage Forgiveness Debt Relief Act as it appears on the IRS web site (click link) http://www.irs.gov/individuals/article/0,,id=179414,00.html

A recent report named The Myers Team the #1 Short Sale Realtors in Nevada.  Number one status was determined by actual short sale listings closed from January 1, 2007 through December 31, 2011. According to the report, The Myers Team with the Caliber Realty Group has negotiated more short sale approvals and closed more short sale listing transactions than any Realtor or Broker in Las Vegas.  The majority of these closings have been short sales with Bank of America.

The Myers Team is nationally recognized as one of the most influential figures in Real Estate today.  According to Myers Team owner, Bill Myers, “Surrendering a home worth half of what you owe is NOT a failure, it’s a business decision.  A short sale is an opportunity for you and your family to take control and walk away free and clear. Nobody wants to lose their home; however, loan modification doesn’t work and there is no need to go down with a sinking ship.  Homeowners need to know when to say enough is enough.”

Myers Team owners, Bill and Francoise Myers have helped hundreds of Las Vegas families avoid foreclosure.  Myers said, “Sellers facing foreclosure must remember that banks are not looking out for you or your family.  When you work with The Myers Team, our job is to get between you and the bank.  We represent our clients, NOT the banks.  It is our job to negotiate the best possible outcome.  Ultimately, our job is to take away the stress, and make the transaction as smooth and stress-free as possible.”

Visit The Myers Team web site at http://www.NevadaShortSaleInfo.com

For Non-Short Sales, visit http://www.VegasShortSaleInfo.com

Las Vegas Short Sale Specialists

*Above production is based on results from January 1, 2007 through December 31, 2011 (short sale listing ends only.) The information provided is obtained from public records, it is deemed reliable but not guaranteed.

 

Las Vegas Short Sale Experts | The Myers Team

 

Las Vegas Short Sale | Las Vegas Myers Team

 

Las Vegas Short Sale | Nevada Short Sale Experts

Las Vegas Short Sale Information

Las Vegas, Nevada — In the distressed Las Vegas housing market, many Realtors and Attorneys are calling themselves short sale experts; however, many of these self-proclaimed experts have little or no experience closing short sale transactions. What criterion constitutes an expert?

A recent report named The Myers Team the #1 Short Sale Realtors in Nevada.  Number one status was determined by actual short sale listings closed from January 1, 2007 through December 31, 2011. According to the report, The Myers Team with the Caliber Realty Group has negotiated more short sale approvals and closed more short sale listing transactions than any Realtor or Broker in Las Vegas.  The majority of these closings have been short sales with Bank of America.

The Myers Team is nationally recognized as one of the most influential figures in Real Estate today.  According to Myers Team owner, Bill Myers, “Surrendering a home worth half of what you owe is NOT a failure, it’s a business decision.  A short sale is an opportunity for you and your family to take control and walk away free and clear. Nobody wants to lose their home; however, loan modification doesn’t work and there is no need to go down with a sinking ship.  Homeowners need to know when to say enough is enough.”

Many Realtors proclaim themselves to be short sale experts; however, according to Myers, “A Realtor in Las Vegas can become a Certified Short Sale Expert by attending a one day class at the Board of Real Estate.  The ability to be called an expert in any field should be based upon performance and consistent results; not based upon attending an afternoon seminar.” Myers added, “This would be the same as declaring yourself a ‘home run expert’ after attending a one-day baseball class yet never picking up a bat or actually hitting a ball.”  The Myers Team has continually broken sales records, and when it comes to short sale transactions, they are considered by most experts to be industry leaders.

The Myers Team was an award winning Real Estate team at Century 21 for nine years; however, in 2011 they joined forces with the Caliber Realty Group.  According to Myers, “Our Real Estate market has changed; however, most Real Estate companies have not. While most Real Estate Brokers are still learning how to do short sales, the Caliber Realty Group is backed by ownership that has been dealing with Banks and Loss Mitigation Departments for almost three decades.” Additionally, Myers said, “A short sale is one of the most complicated transactions in residential Real Estate and experience is everything.  If you needed open-heart surgery, would you go to jack of all trades physician, or would you visit a heart specialist?  The Caliber Realty Group specializes in short sale transactions. This experience allows Caliber Realty to provide a higher caliber of service and stand out in today’s unique Real Estate market.”

Bill and Francoise Myers have helped hundreds of Las Vegas families avoid foreclosure.  Myers said, “Sellers facing foreclosure must remember that banks are not looking out for you or your family.  When you work with The Myers Team, our job is to get between you and the bank.  We represent our clients, NOT the banks.  It is our job to negotiate the best possible outcome.  Ultimately, our job is to take away the stress, and make the transaction as smooth and stress-free as possible.”

Visit The Myers Team web site at http://www.NevadaShortSaleInfo.com

Also visit http://VegasShortSaleInfo.com

Las Vegas Short Sale | Top Las Vegas Short Sale Realtors

 

Las Vegas Short Sale | Nevada Short Sale Information

 

Las Vegas Short Sale Results | Las Vegas Myers Team

 

Beware of Las Vegas Short Sale Experts

Las Vegas, Nevada — In the distressed Las Vegas housing market, many Realtors and Attorneys are calling themselves short sale experts; however, many of these self-proclaimed experts have little or no experience closing short sale transactions. What criterion constitutes an expert?

A recent report named The Myers Team the #1 Short Sale Realtors in Nevada.  Number one status was determined by actual short sale listings closed from January 1, 2007 through December 31, 2011.

According to the report, The Myers Team with the Caliber Realty Group has negotiated more short sale approvals and closed more short sale listing transactions than any Realtor or Broker in Las Vegas.  The majority of these closings have been short sales with Bank of America.

The Myers Team is nationally recognized as one of the most influential figures in Real Estate today.  According to Myers Team owner, Bill Myers, “Surrendering a home worth half of what you owe is NOT a failure, it’s a business decision.  A short sale is an opportunity for you and your family to take control and walk away free and clear. Nobody wants to lose their home; however, loan modification doesn’t work and there is no need to go down with a sinking ship.  Homeowners need to know when to say enough is enough.”

Many Realtors proclaim themselves to be short sale experts; however, according to Myers, “A Realtor in Las Vegas can become a Certified Short Sale Expert by attending a one day class at the Board of Real Estate.  The ability to be called an expert in any field should be based upon performance and consistent results; not based upon attending an afternoon seminar.” Myers added, “This would be the same as declaring yourself a ‘home run expert’ after attending a one-day baseball class yet never picking up a bat or actually hitting a ball.”  The Myers Team has continually broken sales records, and when it comes to short sale transactions, they are considered by most experts to be industry leaders.

The Myers Team was an award winning Real Estate team at Century 21 for nine years; however, in 2011 they joined forces with the Caliber Realty Group.  According to Myers, “Our Real Estate market has changed; however, most Real Estate companies have not. While most Real Estate Brokers are still learning how to do short sales, the Caliber Realty Group is backed by ownership that has been dealing with Banks and Loss Mitigation Departments for almost three decades.” Additionally, Myers said, “A short sale is one of the most complicated transactions in residential Real Estate and experience is everything.  If you needed open-heart surgery, would you go to jack of all trades physician, or would you visit a heart specialist?  The Caliber Realty Group specializes in short sale transactions. This experience allows Caliber Realty to provide a higher caliber of service and stand out in today’s unique Real Estate market.”

Bill and Francoise Myers have helped hundreds of Las Vegas families avoid foreclosure.  Myers said, “Sellers facing foreclosure must remember that banks are not looking out for you or your family.  When you work with The Myers Team, our job is to get between you and the bank.  We represent our clients, NOT the banks.  It is our job to negotiate the best possible outcome.  Ultimately, our job is to take away the stress, and make the transaction as smooth and stress-free as possible.”

Visit The Myers Team web site at http://www.NevadaShortSaleInfo.com

Also visit http://VegasShortSaleInfo.com

Las Vegas Short Sales | Las Vegas #1 Short Sale Realtors

Short Sale in Las Vegas | The Myers Team

Las Vegas Short Sale Experts | Top Las Vegas Short Sale Realtors

*Above production is based on results from January 1, 2007 through December 31, 2011 (short sale listing ends only.)  The information provided is obtained from public records, it is deemed reliable but not guaranteed.

Short Sales in Las Vegas | Cash Back for Homeowners

Las Vegas Short Sales

In an effort to move troubled mortgages off their books, banks have begun offering cash to delinquent homeowners so that they can sell their properties for less than they owe.  No lender likes to do short sales, but many banks have decided that short sales are quicker and less expensive than foreclosing. In addition to offering cash incentives, banks have been pre-approving details, streamlining the process of closing and forgoing their right to pursue unpaid debt in the hope of getting through some of the backlog.  At this point, more than 14 million homes (nationally) are in foreclosure, and the pending repossessions that have accumulated are standing in the way improving the housing market. Some banks have been offering cash as an incentive to get homeowners to short sell, versus walking away from their home.   The largest incentives are extended by JP Morgan Chase, who approve about 5000 short sales monthly, many of whom have included settlements up to $35,000.  Additionally, many buyers who purchased their homes using FHA loans have been receiving cash back at the close of the short sale process.  On average, short sale transactions, from listing to sale, take an average of 123 days…much less time than a foreclosure. While cash back is never a guarantee, the fact remains that each lender and investor is different.

From January 1, 2007 through December 31, 2011, The Myers Team sold more short sale listings than any Realtor or Broker in Nevada.  Myers Team Owners, Bill and Francoise Myers have helped hundreds of Las Vegas families avoid foreclosure.  Myers said, “Sellers facing foreclosure must remember that banks are not looking out for you or your family.  When you work with The Myers Team, our job is to get between you and the bank.  We represent our clients, NOT the banks.  It is our job to take away the stress and negotiate the best possible outcome.  Ultimately, our job is to help our clients get a fresh start.”

Visit The Myers Team web site at http://www.NevadaShortSaleInfo.com

Additionally, please visit http://www.VegasShortSaleInfo.com

Short Sales in Las Vegas | Las Vegas Myers Team

Short Sale Realtors in Las Vegas | Las Vegas Short Sale Experts

*Above production is based on results from January 1, 2007 through December 31, 2011 (short sale listing ends only.) The information provided is obtained from public records, it is deemed reliable but not guaranteed.

Las Vegas Short Sales | Short Sales in Nevada

Meet Las Vegas Top Short Sale Realtors

Las Vegas, Nevada – A recent report named The Myers Team the #1 Short Sale Realtors in Nevada.  Number one status was determined by actual short sale listings closed from January 1, 2007 through December 31, 2011.

According to the report, The Myers Team with the Caliber Realty Group has negotiated more short sale approvals and closed more short sale listing transactions than any Realtor or Broker in Las Vegas.  The majority of these closings have been short sales with Bank of America.

The Myers Team is nationally recognized as one of the most influential figures in Real Estate today.  According to Myers Team owner, Bill Myers, “Surrendering a home worth half of what you owe is NOT a failure, it’s a business decision.  A short sale is an opportunity for you and your family to take control and walk away free and clear. Nobody wants to lose their home; however, loan modification doesn’t work and there is no need to go down with a sinking ship.  Homeowners need to know when to say enough is enough.”

Many Realtors proclaim themselves to be short sale experts; however, according to Myers, “A Realtor in Las Vegas can become a Certified Short Sale Expert by attending a one day class at the Board of Real Estate.  The ability to be called an expert in any field should be based upon performance and consistent results; not based upon attending an afternoon seminar.” Myers added, “This would be the same as declaring yourself a ‘home run expert’ after attending a one-day baseball class yet never picking up a bat or actually hitting a ball.”  The Myers Team has continually broken sales records, and when it comes to short sale transactions, they are considered by most experts to be industry leaders.

The Myers Team worked for Century 21 for nine years; however, in 2011 they joined forces with the Caliber Realty Group.  According to Myers, “Our Real Estate market has changed; however, most Real Estate companies have not. While most Real Estate Brokers are still learning how to do short sales, the Caliber Realty Group is backed by ownership that has been dealing with Banks and Loss Mitigation Departments for almost three decades.” Additionally, Myers said, “A short sale is one of the most complicated transactions in residential Real Estate and experience is everything.  If you needed open-heart surgery, would you go to jack of all trades physician, or would you visit a heart specialist?  The Caliber Realty Group specializes in short sale transactions. This experience allows Caliber Realty to provide a higher caliber of service and stand out in today’s unique Real Estate market.”

Bill and Francoise Myers have helped hundreds of Las Vegas families avoid foreclosure.  Myers said, “Sellers facing foreclosure must remember that banks are not looking out for you or your family.  When you work with The Myers Team, our job is to get between you and the bank.  We represent our clients, NOT the banks.  It is our job to negotiate the best possible outcome.  Ultimately, our job is to take away the stress, and make the transaction as smooth and stress-free as possible.”

Visit The Myers Team web site at http://www.NevadaShortSaleInfo.com

Also visit http://VegasShortSaleInfo.com

The Myers Team | Las Vegas Short Sale Experts

Las Vegas Short Sales | Myers Team #1

Meet Las Vegas Top Short Sale Realtors | Myers Team #1

*Above production is based on results from January 1, 2007 through December 31, 2011 (short sale listing ends only.) The information provided is obtained from public records, it is deemed reliable but not guaranteed.