Coldwell Banker Premier Realty - Lance Hamrick

Lance Hamrick Blog

REITs. Have money, will travel

Cash burning a hole in the pockets of REITs but product to buy is scarce
Posted by John McClelland on February 05, 2010 in No Category
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
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Largest Home Sale in Over One Year

CBPR Agent Carolyn Mullany Handles Transaction
Posted by Randi Kolesar on January 27, 2010 in No Category
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
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For the latest happenings in the Las Vegas real estate market. January is off to a good start...Q1 is going to be busy and investor interest is swelling. cbprds.com/newsletterfiles/news1.html

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Investors, the flip rule and FHA buyers

Posted by John McClelland on January 20, 2010 in No Category
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
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