I can't say I've heard that specific phrase used. Most often it's referred to generically as blacklisting, although the lenders claim they don't use that term, they just don't write the loan. Obviously that means there is some sort of list and they call it something, but each bank may have their own name for it.
You'll see it today primarily with high rise condos, but it can apply to most any project, builder, or even a geographical area. Declining values, high vacancy rates, low owner occupied percentages, and litigation issues can all be reasons given why something makes a blacklist. It can also be an individual lender's limits on writing loans to minimize their exposure in a given project or area.
It's one of the reasons why Cash is King with the bank owned homes. They often take a cash offer, even if slightly less than a highest offer that's financed, because the banks know other lenders may not fund the loan or appraise at that value, and the cash a sure thing. The WSJ had an article that touched on all this some time ago.
FHA loans for condos also have a list, only these are approved projects by HUD, and effective Oct. 1, (DELRAP) Direct Endorsement Lender Review and Approval Process. If a condo isn't on the list FHA won't insure the low money down loan offered by the lender, so the deal is off. Anytime I have an FHA buyer looking at condos I have to make sure the units make the list. It's another reason why working with a knowledgeable REALTOR® can be a big help, saving time and aggravation.
Without knowing what you're buying or where, or what kind of loan product you're using, the only thing I can say is you might try shopping with other lenders. It's possible another bank may be able to write the loan...it's list may be different.
Hope that helps.
The smell from the pig farm might be an issue. I have a couple of friends who recently purchased a home off of Bruce and Tropic Wind and the smell there is almost constant. They just keep scented candles lit most of the time. However, I live south west of the pig farm (Craig and Commerce) and I smell it only occasionally. My recommendation is to drive down the street and stop and ask anyone you see outside their home if they notice the smell much.... more
According to available records, the home had been turned over to an asset management company for foreclosure, and on 9/14 they transferred the trust deed to Fannie Mae. So it is now a bank owned property, but it may be a while before it becomes listed for sale.
I'd also add that wherever you may have seen a listing on this property, the information isn't always correct. Most foreclosure listing 'services' take raw data from public records. I've had many calls about bank owned properties that listed a ridiculously low price, particularly where an asset management company was involved in the transaction. What may be listed as 'price' can often be the fees paid for the management company's foreclosure services that are listed when transferring the deed back to the note holder, NOT the sales price of the home.
If you want accurate up-to-date information about what is actually listed and the correct price, simply go to a REALTOR® for the local MLS. It can save a lot of time chasing internet listings that either aren't for sale or shown at a price that may not be anywhere near reality. Best of all it's a free service that delivers them and any newly added, direct to your email inbox.
Hope that helps, and any other questions just get in touch.
I have attached a link to the RTC website. It does look like you can get there from the Airport. It looks like you will have to take a switch busses a couple of times. You can see the times on the schedules and plan your route. It looks like you need to eventually be on the route 103 that runs along Decatur to get to your destination.
Click on the link below for more information.
Elite Realty... more
You could try the UNLV Enterprise Dental Center. 1750 Wheeler Peak Drive. 702-647-1074
There is also the Miles for Smiles, or the dental care offered through the clinics at the Nevada Health Centers site.
Hope that helps!
As I mentioned in your last question, wherever you're getting your information on these homes, it doesn't appear to be very accurate.
This property is currently marked as contingent with an estimated close date of 9/26. The listing price is $188,900. The actual sale price won't be available until it closes.
Again, why you should work with an agent, it can save you so much time chasing properties that either aren't available or listed at incorrect pricing.
I would love to help you, but I'm in Maryland. Please contact my sister Brokerage in your area:
Prudential Americana Group, REALTORS
Ask to speak with an agent that has experience with foreclosures and REO properties. Best of luck!
I'm fairly certain this house was sold back in July. Would you like a realtor to assist you with your home search? Remember, buyers do not pay anything to have the assistance of a real estate agent - the seller does.
I work with quite a few realtors and would happy to supply you with their names and numbers. You may email me or give me a call - 702-375-7230.
Have a great evening!
Pam Nickels... more
Sounds odd. Section 8 is a low-income voucher program. Generally, it is offered to individuals not properties (technically there are some designated section 8 apartment complexes but I only know of a few in Las Vegas). I don't know why your agent told you the property is section 8. Perhaps he was referring to the previous renter was a section 8 recipient? There are no section 8 "areas." Section 8 recipients can choose where to live as long as there is a cooperating landlord to rent to them. I'll assume you bought a Single Family Residence not a condo or apartment complex, yes? If so, I'd rest assured you have a regular ol' home. Please enjoy it.... more
You should talk with a loan officer at your bank or I could refer someone to you if you like. They can check all your info and let you know where you stand and what you should do to raise your credit score.... more
According to the county records the home is currently owned by Deutsch National Bank as of 06/23/2009. http://sandgate.co.clark.nv.us/servlet/Assessor?instance=pcl2&parcel=13912212049 The link should show you the current and previous owners of the property. Hope this helps.
North American Financial
O: (702) 407-9335
F: (702) 407-0035
C: (702) 624-3993
Real Estate Owned/ bank owned property.
Banks assign them to agents to get a BPO (broker price opinion) of a property and/or to list the property. Also may include things like changing locks, checking property for vacancy, snapping photos, getting utilities changed over, etc.
Unless the short sale has been "Pre-approved" you are in the early part of your wait. I work with buyers in Florida and we have similar challenges in the market as Las Vegas. Our waits are typically 3 or 4 months, but can take as long as 5 or 6 months. Hang in there.
American laws for foreign nationals purchasing US real estate are very liberal and allow anyone the opportunity to purchase property.
Our recommendation is to find a real estate professional and begin your search today and take advantage of the wonderful opportunities that exist in today's RE market.
We would be happy to assist you with southwest Florida options.
The Eckler Team
Michael Saunders & Company