Las Vegas Mortgage News

If you are curious if you qualify or what you can qualify for I can help. Call me direct at 702.427.4075. Many great loan programs with as little at 0%-3.5% percent down payment. Or even 12 months out of Short Sale.

http://www.cbsnews.com/8301-505123_162-57385733/buffett-on-housing-buy/

The S&P/Case-Shiller Index has found that home prices are creeping downward.  But josh how bad is it?  As of November 2011, average home prices acres the U.S. are back to where they were in 2003, despite the lowest interest rates in half a century.

"Despite continued low interest rates and better real GDP growth in the fourth quarter, home prices continue to fall," said David Blitzer, chairman of the index committee at S&P.

There has never been a better time to buy.  One of the  myths of owning a is that it is more expensive then renting.  Fact is in many market, owning can be as affordable as renting, especially when you consider the tax advantages of owning a home.  Unlike rental costs, which increase over time, fixed-rate mortgages provide consistent monthly principal and interest payments for the life of the loan.  As you make payment, the money will be applied toward the principal, increasing the equity in your home over time.  Historically, owning a home has been of the easiest way of building wealth in America as home prices generally increase over time.  With money being cheap (low rates) and home deeply discounted it is perfect time to capitalize on owning a home.

If I can help you, a friend, a family member, or associate, please reach out to me personally for help.  My direct phone number (702) 427-4075.

Lies Your Mortgage Loan Officer Told You (Las Vegas - Nevada)

This past week I have had two Real Estate Agents ask a few common loan questions on behalf of their clients. Their clients where told something from a Loan Officer that was either a lie or answered a question without really knowing the answer. 

I thought to myself what lies, misinformation, or home buying myths are common place?

The two myths or lies this week where:

1. You need a Real Estate Agent to represent you when buying a home with an FHA loan.

The Loan Officer in this scenario was telling the Buyer they had to have a Real Estate Agent. That is not the case. You can represent yourself to purchase a home. I do not recommend it.  Unless you are very seasoned,  have a good knowledge of real estate contracts, and the home buying process.  It is nice and comforting to know that you have a professional looking out for you. However, if you are comfortable and confident then you can proceed without an Agent involved.

2. You will always be charged a 1% origination fee on a VA loan....it is the law.

This scenario the Loan Officer was telling the client that it is "The Law" to pay an origination fee.  The cost of an origination fee is entirely up to the client/buyer/borrower. It is customary for a 1% Origination fee to be charged and usually provides a slightly lower interest rate. But it is always the option of the buyer/borrower to elect for 0% Origination but it does usually mean a slightly higher interest rate. As consumers you have the right to choose your interest rate. It is like ordering champagne on a menu. The finer champagne costs more (lower rate). The cheaper champagne costs less (higher rate). In the end you get what your pay for. But the borrower is never required by law to pay an origination fee. It is something that is negotiable with you and your Loan Officer. Please make sure your Loan Officer is sharing all your interest rate options with you. This way you can decide which works best in relation to closing costs, interest rate, and monthly payment for you.

It is important that you work with a Loan Officer that is looking out for your best interest.  Not one that is trying to make more money or better themselves at your expense.  

If you are uncertain about something you have read, been told or heard, please call me direct at (702) 427-4075.  I will either have the answer or get you the answer.  I will always put you my client first.  

-Your Home NEEDS and DREAMS are my OWN

Mary "Suzohne" West, Sr. Loan Officer
Southern Fidelity Mortgage

Las Vegas Nevada Percentage of Homes Lost to Foreclosure Between Jan 2007 and Sept 2011 (Where the Las Vegas Home Deals are)

In less than four years, more than 100,000 homes in Las Vegas have been lost through foreclosure. That’s 18% of our privately owned housing stock: that’s nearly one home in five. And we’re nowhere near finished with foreclosures. In all likelihood, we have another 100,000 yet to go, and at the current rate, that’s another four years.

In each zip code you will see two numbers. The first number is the percentage and the second number is the actual number of homes which have been lost to foreclosure. If you’d like to learn more and receive a free copy of our Q3 2011 Housing Report via email, just reply to this message with the words “FREE REPORT” in the subject line.

p.s. Take a look at zip code 89134 which has the lowest foreclosure rate of all: only 5%. Why? It’s predominately Sun City Summerlin where many residents are retirees and paid cash for their homes. The zip code with the highest foreclosure rate is 33% in 89086.

If you or someone you know has questions about refinancing, buying a home or investment property, please send them my way.  Your HOME Needs and Dreams are my OWN.

Mary "Suzohne" West, Sr. Loan Officer
Southern Fidelity Mortgage
Dir: (702) 427-4075 // E: West@WestHomeLoan.com

Halloween in Vegas - Trick or Treat
(Las Vegas Single Family Home Sales)

Attached you find single family home sales for Las Vegas, Nevada.  The document outlines each zip code in Las Vegas.  Thought you might be interested int his kind of information regarding the Las Vegas housing market.  Sept Sales - SFR.pdf

If you have a question about your current home and if it makes sense to refinance or buy a home in Las Vegas; call me direct at (702) 427-4075.  There are great deals out there if you are looking to buy a Las Vegas Foreclsoure or Short Sale Home.

All the best for a safe and sane Halloween.

Suzohne West, Sr. Loan Officer

I know how much you love hearing about the latest mortgage trends and products as it pertains to Las Vegas Nevada.  But sometimes I like to share something a little different. 

I hope that you will enjoy this video on YouTube as much as I did.  The video is so vivid you might think it is CGI.  Wonderful message of how we are dependent on one another in this world.  The beauty of pollination

If I can help you or someone you know with your real estate finance questions, I am here for you.

Your Home NEEDS and DREAMS are my OWN.

-Suz'
(702) 427-4075

http://www.youtube.com/watch?v=xHkq1edcbk4&feature=youtube_gdata_player

Happy to say I am back from a nice visit with my 98 year old grandmother.  She is enjoying and relaxing in her retirement in her own paid-off home.  As you have heard time and time again there has never been a better time to buy a home.  Homes are dramatically reduced and money / interest rates are low.  This is the opportunity to be prepare you future so you can sit back and relax in your retirement. 

Rates bounced up slightly from their record lows in the past week. Freddie Mac announced that for the week ending August 25, 30-year fixed rates averaged 4.22%, up from 4.15% the previous week. The average for 15-year fixed rose to 3.44%. Adjustable rates were mixed, with the average for one-year adjustables increasing to 2.93% and five-year adjustables falling slightly to 3.07%. A year ago 30-year fixed rates were at 4.36%.

I am always a phone call or an e-mail away 7 days a week for my clients.  If you would like to be a client reach out to me directly at (702) 427-4075 // West@WestHomeLoan.com

Suzohne West, Sr. Loan Officer
Southern Fidelity Mortgage
6585 High Street, Las Vegas, Nevada 89131

This year, and every year, we’re incredibly grateful for the freedoms we celebrate together.  And we’re also thankful for the women and men who help make our freedom a daily reality. 

Don’t forget that hard work deserves a little play every now and then, so we hope you’ll take time off with friends and family to celebrate with parades, cookouts, and fireworks

Here for you every step of the way.  Your home needs and dreams are my own.

Mary Suzohne West
Sr. Loan Officer
Southern Fidelity Mortgage
Direct:  (702) 427-4075

Part 2 of 4: HomePath Homes & Home Loans. Buy with just 3% down. No appraisal required (savings of $350+). Many times they offer incentives to the buyer such as 3.5% towards closing costs. No mothly mortgage insurance and great interests rates. You can finance home improvements too. These homes are ready to sell; no long waiting to see if you can buy.

Here for you every step of the way.  call me direct for personal care and service.

Suz'