Posted by John McClelland on January 20, 2010 in
House flipping was made popular by some cable tv shows during the boom and its occurring very often today too. But many buyers are also aware of the flip rule for FHA, where the resale of homes to FHA buyers could not occur until after 90 days. The rule was initially meant to prevent fraud, similar to what Tony Soprano did in the third season of the Sopranos. However, the rule made many of the “flipped” homes nearly unobtainable for a lot of buyers. A rule reversal is scheduled for February 1st. T... read more
Congrats to Coldwell Banker Premier Realty agent Carolyn Mullany on selling the former Las Vegas Home of Michael Jackson. Representing the seller, Carolyn received an offer on Friday, Jan. 22nd and closed escrow on Wednesday, Jan.27th. Read more about Jackson's Vegas Home Sale.
Check out photos of the amazing estate below!
... read more
Cash burning a hole in the pockets of REITs but product to buy is scarce
Posted by John McClelland on February 05, 2010 in
REITs have raised a lot of capital in the past year and they are locked and loaded for bear but they just can't find enough of them. A lot of the product that REITs like to aquire; apartments, office buildings, malls and warehouses have not been available. Current owners are hesitant to sell into a market where prices have needed a massive reset and they often keep performing assets for themselves. Additionally, banks are cautios about how they liquidate properties they have foreclosed on since they have to watch t... read more
Posted by John McClelland on February 17, 2010 in
Modern locomotives are diesel-electric hybrids where a diesel drive motor powers a generator that in turn powers electric motors at the drive wheels. Regional economies are dynamic motors that power the locomotive...the United States. While each wheel, the regional economy has its own motor, there is a drive mechanism at the top, chiefly monetary policy and with respect to Las Vegas's regional economy, national employment can be thought of as a drive engine. In Las Vegas we really seek a broad nation... read more