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Mark Fleysher's Blog

Your Friendly and Professional Las Vegas Real Estate Broker

By Mark D Fleysher, MBA | Broker in Las Vegas, NV
  • HomePath® Buyer Incentive: June 14 – October 31

    Posted Under: Home Buying in Las Vegas, Rent vs Buy in Las Vegas  |  August 26, 2011 6:06 PM  |  1,419 views  |  No comments

    Fannie Mae is currently offering buyers up to 3.5% in closing cost assistance through October 31, 2011. A $1,200 selling agent bonus is also available to selling agents who close on an owner occupant property and meet all eligibility requirements and terms and conditions.

    Terms and Conditions:
    • Buyers and/or selling agents (the agent representing the buyer) must request the incentive upon submission of initial offer.
    • Initial offer must be submitted on or after June 14, 2011 and close by October 31, 2011. Initial offers made prior to June 14 are not eligible for the June 14 – October 31 incentive.
    • Sale must close on or before October 31, 2011. No exceptions will be made to this deadline. (Note: Initial offers submitted after September 15, 2011 may not close by the incentive deadline of October 31, 2011.)
    • Buyers must be purchasing a HomePath property to use as their primary residence to receive closing cost assistance. Second homes and investment properties are excluded from the incentive.
    • Sales closed via the retail channel are eligible, including those utilizing public funds. Pool and auction sales are ineligible.
    • Buyers must sign the Owner Occupant Certification Rider to the Real Estate Purchase Addendum.
    • Buyers with total closing costs under 3.5% are not eligible to receive the difference as a credit.
    • Properties where Fannie Mae acquired the property in connection with financing under a reverse mortgage are not eligible. Ask the listing agent for details.
    • Buyers should consult their lenders for guidance on financing. Lenders and mortgage products may impose their own limitations on the use of the 3.5% incentive. For example, the lender may consider the incentive a Seller Contribution and limit the amount to 3.0%. In those instances, the remaining 0.5% will no longer be available to the buyer.
    • Fannie Mae reserves the right to remove any property from promotion or end the promotion at any time. Any dispute over the payment of the incentive shall be resolved by Fannie Mae in its sole discretion.

    Call me for more information!

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    Mark D Fleysher, MBA, Broker, REALTOR

    The Jack Conley Realty Group

    C. 702-291-8186, E. mfleysher@gmail.com


  • Poll: 9 in 10 Americans Value Home Ownership

    Posted Under: Home Buying in Las Vegas, Home Selling in Las Vegas, Rent vs Buy in Las Vegas  |  July 25, 2011 1:17 PM  |  1,205 views  |  2 comments

    While nearly one-quarter of home owners owe more on their home than it’s currently worth, Americans still see the value in home ownership and still consider it part of the American dream.

    Nearly nine in 10 Americans say home ownership is an important part of the American dream, according to the latest New York Times and CBS News poll conducted June 24-28 of 979 adults.

    Overall, the majority of Americans polled also said the government should do more to help improve the housing market, and they mostly blame financial institutions for the sluggish housing market.

    Here are some of the findings from the poll:

    • 54 percent of those polled say the government should be doing more to improve the housing market. Only 16 percent say the government should be doing less. In fact, support for helping people who are facing financial distress from housing is higher than support for helping those who have been unemployed for several months. 53 percent say the government should help in providing financial assistance to those who are having trouble paying their mortgages.
    • Nearly no one surveyed was in favor of discontinuing the mortgage interest tax deduction, which government leaders have been eyeing as part of budget cuts. (Learn more.)
    • 42 percent of respondents blame lenders and 29 percent blame regulators for the housing crash.
    • About 66 percent of Americans say strategic default - that is, when underwater home owners stop making payments on their mortgage even though they have the means to keep paying - is not justified. Nearly 30 percent of those surveyed say strategic default is justified.

    Source: “Despite Fears, Owning Home Retains Allure, Poll Shows,” The New York Times (June 29, 2011)





    Cheers.


    --



    Mark D Fleysher, MBA, Broker, REALTOR
    The Jack Conley Realty Group
    C.
    702-291-8186, E. mfleysher@gmail.com

  • How to Settle a Credit Card Debt, On Your Own

    Posted Under: Home Buying, Rent vs Buy, Credit Score  |  February 16, 2011 2:37 PM  |  1,205 views  |  No comments

    How to Settle a Credit Card Debt, On Your Own

     

    Settle your debt, without anyone’s help, and without paying anyone to do it, by doing it yourself.

     

    Many people don’t realize that income is not the only factor affecting your ability to purchase a home, with a mortgage. Yes, your income (and stability thereof) is very important, but even those with enough income find themselves being turned down for mortgages for credit card balances, and they get stuck in a cycle of paying the interest, and maintaining the same balance.

     

    So… if that’s you, what are you going to do about it? Say forget it and continue your endless cycle of debt? Do something about it.

     

    I say, “Settle your debt”. You say, “I can’t afford it”…. Well, with that mentality, you’ll likely remain in that cycle until: A. you decide to stop paying and completely ignore it; B. you start making enough money to pay it off (good luck in today’s economy); or, C. Attempt to SETTLE YOUR DEBT!

     

    Here’s the catch… you CAN do it yourself, without involving an attorney or other type of representing company, and remove their income from your pay-off, making it truly a great opportunity to get your credit back on track… and those who think: “it will only make my credit worse”, you’re right, it will make it worse in the short run, but I’d say (I’m not an attorney) that your credit will be better in 6 months than it was before, and it’ll only get better, as you’ll have no debt (you’ll be unlikely to find a bank to give you credit until it gets better).

     

    Also, consider that this may only be beneficial if you owe a large amount… I don’t think owing $1000 is the same as owing $20,000. Also, I don’t think this would work to well when an asset, like a car, or a house ;), is involved unless you are trying to settle-off of the difference of what’s owed and what’s considered fair market.

     

     

    With that said, here’s an e-how article on how to settle your debt yourself:

    http://www.ehow.com/how_2076712_settle-credit-card-debt.html

     

     

     

    I’d love to hear from anyone who has or knows someone who has recently done this or successfully got themselves out of the “cycle” and really turned around their financial situation

     

     

    __________________________________________________


    --

    Sincerely,


    Mark D Fleysher, MBA, Broker, REALTOR

    The Jack Conley Realty Group

    C. 702-291-8186 F. 702-946-0843

    http://www.trulia.com/profile/mfleysher/

    http://www.linkedin.com/in/markfleysher

     

     

  • Update: Bye-Bye Fannie, Freddie? What It Could Mean...

    Posted Under: Home Buying, Home Selling, Rent vs Buy  |  February 15, 2011 4:28 PM  |  621 views  |  No comments


    As the Obama Administration continues to evaluate the governments influence in home lending, it seems as though it's a great time to get a loan... especially if they are going to start requiring much higher down payments. These next couple of years could make and break your ability to be a homeowner!

     

    Bye-Bye Fannie, Freddie? What It Could Mean

    Daily Real Estate News  |   February 14, 2011  

     

    The Obama administration announced on Friday plans to reform the housing finance market, including winding down government-controlled mortgage giants Fannie Mae and Freddie Mac and turning most of the market over to the private sector, as well as requiring larger down payments. The White House proposed three approaches to replacing Fannie Mae and Freddie Mac rather than offering up one final plan.

    The administration’s proposal is expected to reshape the way Americans buy and own homes.
    Among the plans outlined in the administration’s “white paper”:

    â–ª Shrinking the size of the portfolio of mortgages held by Fannie Mae and Freddie Mac by at least 10 percent a year.
    â–ª Creating an insurance fund for mortgages, supported by premiums paid by lenders.
    â–ª Winding down government subsidies of mortgages by raising the fees charged to cover the risk of default.
    â–ª Raising fees for borrowers and requiring larger down payments for home loans.

    The administration also recommended measures to make government-backed mortgages more expensive in order to allow the private-sector to better compete in the mortgage market. For example, it called for reducing by this fall the size of mortgages Fannie and Freddie may purchase from $729,750 to $625,500.

    Raising Rates?

    Some critics of the proposal are concerned that the administration’s overall plan would raise mortgage rates.

    Treasury Secretary Timothy Geithner said that mortgage costs likely will rise in the coming years, as government support is withdrawn and the private sector takes on a bigger role. Credit Suisse has estimated that rates on a 30-year fixed mortgage may rise as much as 2 percentage points if the government withdraws its backing of Fannie Mae and Freddie Mac.

    Higher borrowing costs could be a thorn for a recovering housing market, since interest rates greatly affect how much buyers can afford, experts say.

    “Reducing the government’s involvement in the mortgage finance market is necessary for a healthy market, but should not be done at the expense of the economy or home buyers,” NAR President Ron Phipps said in a public statement in response to the Obama administration's plan. “Any proposal for increasing fees and borrowing costs beyond actuarially sound levels will only make it harder for working, middle-class individuals to achieve home ownership, and only the wealthy will be able to achieve the American dream.”

    NAR’s economists estimate that a retreat of capital from the housing market will negatively impact the economy too. For every 1,000 home sales, 500 jobs are created for the country, NAR notes.

    Geithner estimates that reducing the government’s role in the mortgage market may take five to seven years for the transition.

    “Most people in Congress understand that this is a very political, contentious issue,” says David Berson, a former Fannie Mae chief economist. “It’s going to be a very volatile ride as we move toward what ultimately will be the future of Fannie and Freddie. It’s hard to know what that’s going to be.”

     


    See the full article here:

    http://www.realtor.org/RMODaily.nsf/pages/News2011021402?OpenDocument

     

     

     

    __________________________________________________


    --

    Sincerely,


    Mark D Fleysher, MBA, Broker, REALTOR

    The Jack Conley Realty Group

    C. 702-291-8186 F. 702-946-0843

    http://www.trulia.com/profile/mfleysher/

    http://www.linkedin.com/in/markfleysher

     

  • Station Casinos To Interview New Applicants for 1000 New Jobs

    Posted Under: Market Conditions in Las Vegas, Home Buying in Las Vegas, Rent vs Buy in Las Vegas  |  January 19, 2011 2:15 PM  |  1,090 views  |  2 comments

    Station Casinos To Interview New Applicants

    Company Filling 1K Positions

     



    LAS VEGAS
    -- Station Casinos representatives will meet with the first round of job applicants on Wednesday as the company begins to fill 1,000 new positions.

     

    The meetings at Red Rock Resort are not part of a job fair, as the applicants have already been screened online and were scheduled for interviews.

     

    But Station’s announcement this week that it will fill open positions within the next 60 days is a positive sign for southern Nevada’s still-weakened job market.

     

    The statewide unemployment rate was 14.3 percent in November. Numbers for December are expected to be released later this week.

     

    Of the open jobs at Station Casinos, the company said about half are full-time positions and all the listings are posted on its website.

     



    See the full article here:

    http://www.fox5vegas.com/news/26540105/detail.html

     

     

    __________________________________________________


    --

    Sincerely,


    Mark D Fleysher, MBA, Broker, REALTOR

    The Jack Conley Realty Group

    C. 702-291-8186 F. 702-946-0843

    http://www.trulia.com/profile/mfleysher/

    http://www.linkedin.com/in/markfleysher

     

  • September Sales Statistics

    Posted Under: Home Buying in Las Vegas, Home Selling in Las Vegas, Rent vs Buy in Las Vegas  |  October 11, 2010 12:55 PM  |  802 views  |  No comments









    September Sales Statistics



    This graph depicts the Year to Date Sales by quarter for Single Family Residential properties. As this graph indicates Bank Owned propertries continually have the largest number of closings,the graph also indicates that closings on Short Sale & Traditinal listings have increased since the 1st quarter of 2010.





    This graph depicts the number of Single Family properties that went into contract in each quarter of 2010. As the graph depicts the number of Short Sale properties with offers has increased each quarter, the number of Traditional listings with offers has remained consistent.





    I can help with any of your Las Vegas Residential Real Estate needs or questions; feel free to contact me direct.

    --

    Sincerely,

    Mark D Fleysher, MBA, Broker, REALTOR
    The Jack Conley Realty Group
    C. 702-291-8186 F. 702-946-0843
  • Selling Your Home at the Holidays

    Posted Under: Home Selling, Design & Decor, Rent vs Buy  |  October 11, 2010 12:45 PM  |  1,244 views  |  No comments








    Selling Your Home at the Holidays

    The winter months are typically a slower time for home sales. Night falls earlier and the temperatures drop - and so does buyer enthusiasm. The buyers who are still in the market are serious about finding a home, and sellers can take advantage of that mindset with simple and easy holiday decorating.

    Many sellers shy away from any holiday decorations, thinking it will detract from the home's appeal. Actually, it's just the opposite: holiday decor can make a home feel more comfortable and homey, and buyers can envision their own decorations in the home.

    If you're accustomed to recreating a haunted house or a winter wonderland inside and outside your home for the holidays, it's a good idea to scale back the decor while your home is on the market. The key is balancing enough decorations to let you enjoy the holiday while not detracting from the home's features.

    1. Add a seasonal wreath to the front door and keep other outdoor decorations to a minimum. For Halloween and Thanksgiving, try a pumpkin and a group of chrysanthemums (no fake blood and bats!), and change it out to poinsettias and twinkle lights in December. Skip the blow-up snowman on the front lawn and Santa and his reindeer on the roof.

    2. Avoid cluttering tabletops with holiday collectibles. Keep religion-specific accessories to a minimum.

    3. Re-evaluate accessories such as throw pillows, table runners and towels. If they've seen better days, consider replacing them with warm, fall-toned items.

    4. Instead of an abundance of plastic or artificial decorations, bring in natural elements like small gourds for the fall and pine cones for the winter. Mound them in a pretty bowl on the kitchen table or the coffee table.

    5. Highlight, rather than cover or crowd, architectural features like mantels with simple decorations.

    6. Bring in the scents of the season with pumpkin or pined-scented reed diffusers. During showings and open houses, simmer a small pot of water with orange slices, cloves and cinnamon sticks.

    As always, keep in mind remember two general rules of staging - less personal items and less clutter - and your home will be showing-ready any time of year.




    I can help with any of your Las Vegas Residential Real Estate needs or questions; feel free to contact me direct.

    --

    Sincerely,

    Mark D Fleysher, MBA, Broker, REALTOR
    The Jack Conley Realty Group
    C. 702-291-8186 F. 702-946-0843
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