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Foreclosure in Las Vegas : Real Estate Advice

  • All714
  • Local Info69
  • Home Buying305
  • Home Selling35
  • Market Conditions35

Activity 39
Fri Dec 2, 2016
Samariaamafa asked:
Sun May 11, 2014
aftervince1973 answered:
Don't let a foreclosure stop you from buying a new home. See Comstock if you have a buyer in need. They have a flexible credit loan. This program assists homeowners who have recently been through a foreclosure, short sale or have recently emerged from bankruptcy.
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0 votes 11 answers Share Flag
Tue Sep 24, 2013 answered:
They can take them both, but you need a lot of questions answered before you consider filing. One option would be to consider Short Selling. WE would be happy to answer some of you questions.
Fred Ross TMS Short Sale Solutions. 303-633-5454
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0 votes 13 answers Share Flag
Tue Feb 12, 2013
geraldschulte answered:
It is very unlikly that the bank will persue any dificiencies on the personal property and the parks dont chase rent since they are bound to a max of collection up to 2800.00 by nrs 489. Most parks in Las Vegas are turning into ghost towns with the amount of repos that were sold in the last 5 years to buyers that moved them out, so now the park owners are buying them direct from the banks and renting them to avoid any more empty spaces.

Gerald Schulte
Dream Homes of Pahrump
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0 votes 3 answers Share Flag
Mon Nov 26, 2012
Robert Adams answered:
Most users on this site are either re agents or consumers like yourself.

Your best bet to get accurate info regarding your question is to contact attorneys in your area.

Best Regards,
Robert Adams
The Adams Team at
Rothwell Gornt Companies
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0 votes 4 answers Share Flag
Thu Nov 15, 2012
Johnny James answered:
Tip income is still income as long as it is reported and can be documented.
0 votes 16 answers Share Flag
Thu Nov 15, 2012
Johnny James answered:
Your appliances are things you can plug in and take with you but things attached to the home become fixtures and should not be removed.
0 votes 7 answers Share Flag
Thu Oct 18, 2012
Portland_Real_Estate answered:
try this list and find a better company.
1 vote 1 answer Share Flag
Mon May 14, 2012
Chris Harrison answered:
The way the HOA can come after you during the foreclosure process is through the property. Typically what they will do is put a lien on the property. Since an HOA in the state of Nevada is considered a Super Lien which gives it a high priority. Sooner or later it is going to have to be paid. Either by the Bank through a Short Sale, or REO sale, or by an investor if they buy at the trustee sale.

Hope this brings more light to the situation.
Contact me directly if you have any other Real Estate questions or if there is anything else that I can do to be of service.

Best regards,

Chris Harrison
Barrett & Co., Inc.
2885 S. Jones Blvd
Las Vegas, NV 89146
(702) 592-9510 ph
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1 vote 4 answers Share Flag
Mon Mar 5, 2012
James Bellile answered:
Dear Noam,

Vacancy rates are a great tool, but, probably more important, how nice is your investment within it's given neighborhood and how competitive is your rental rate?

For a great buyers agent and rehab specialist, please contact my team. We also have a great holding property manager committed to advertising your property.

We'll help you buy property at prices you can charge minimal rent and still have a hefty return and, if necessary, assist in rehabbing properties that need work (you may have noticed, Las Vegas' quality of inventory as dropped significantly over the past few years).

A youtube video of some of our previous remodels is located in the bottom left corner of our site.


James Bellile
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0 votes 9 answers Share Flag
Sat Feb 11, 2012
Please ignore the answers telling you that you can't do a short sale if you aren't behind on your mortgage! In the ever changing world of financing, most lenders are allowing people to do a short sale if they aren't behind on their mortgage if they can show a hardship. In hard hit areas like Las Vegas, this is becoming more and more common. Obviously losing your job and moving to PA for work presents a hardship.

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0 votes 9 answers Share Flag
Mon Jan 30, 2012
Jeffery Sklar answered:
CONTACT AN ATTORNEY. Realtors are not attorneys and are not the answer to every issue. It might cost you a few dollars but compared to the cost of a home, it is a small investment.

Jeffrey Sklar
Property Manager
2012 Vice Chair GLVAR Property Management Committee
Southern Nevada Property Management
8871 West Flamingo Road Suite 202
Las Vegas, NV 89147
Phone 702-522-6764
Fax 888-203-2779
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0 votes 33 answers Share Flag
Mon May 16, 2011
Mike Linkenauger answered:
With price adjustments, it is likely a short sale now! Do you need a good Las Vegas short sale specialist?
0 votes 7 answers Share Flag
Tue Jan 25, 2011
Len McGuirk answered:
Hello there,

The Nevada Mediation process is not the only way to short sell your home or obtain a loan mod. I have heard the success rate is very low through the Nevada Mediation Process. You can actually apply for a loan mod yourself with your lender, but you may not have much luck with getting the loan mod approved. Even when most lenders approve loan mods for homeowners, the loan mod is typically not even worth moving forward with. This is due to many different factors. The banks have not been favoring loan mods for homeowners at all. However, the short sale is definitely a great option with a great chance of getting approved. You don't even need to deal with the Nevada Mediation process to successfully get a short sale approved. I specialize in short sales and I am extremely successful with getting short sales approved and closed for my sellers. If you wish, feel free to contact me and I will be happy to give you all the info on short sales and let you know exactly how this process can benefit you. There are several pros and cons to the process, but it is typically a great option for many sellers.

If you decide to do a short sale, here is some additional info. If we can get your short sale approved through the HAFA program, I can get you $3,000 for relocation money. I have several clients that are reaping the benefits from this currently. Call me for more info. I will not charge you to handle your entire short sale. We get paid by the bank to assist the sellers in the short sale process.

Len McGuirk
Short Sale Specialist
Prudential Americana Group
Cell: (702) 203-6688
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0 votes 3 answers Share Flag
Sat Jan 15, 2011
Michele Dutchess answered:
You can most certainly bid on any property that is available for sale or auction. There are different procedures to follow depending on the type of sale. I would be more than happy to help you out with whatever you are interested in.

If you would like to discuss all your options and the different strategies for each please either call or email me at your convenience.

Warmest Regards,

Michele Dutchess
Realtor & Short Sale Foreclosure Resource Cerfitied
Keller Williams Realty Las Vegas
Cell: 702-324-9281
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0 votes 3 answers Share Flag
Fri Nov 12, 2010
1 answered:
Hello Suesan,

It is of a great importance to keep up with your HOA payments. HOA past due amounts can be stop a deal at the closing table, speaking from experience.

Let your agent know you are not making payment to your HOA and the amount you are past due so he or she can provided that information to the negotiator for inclusion into pay off calculation.

HOA management companies will proceed with foreclosing on your property but, they too, will negotiate your past due amount in many cases, speaking from experience.

REMEMBER, the HOA past due amount will not be rolled into your modification so not paying will only increase your out of pocket expense at a later time in the future.

Keep your head up!

Marvin Vasquez, MBA (c)
Certified Expert Negotiator, Realtor
702 807-3247
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0 votes 4 answers Share Flag
Wed Oct 13, 2010
Renee Burrows answered:
I post various community market reports on my blog along with Las Vegas valley wide trends. As a whole we have been stable since the beginning of 2009 but buyer activity slowed quite a bit since the tax credit contracting expired last APril. I posted the link below to access my free monthly market reports (no registration required either!): ... more
0 votes 4 answers Share Flag
Wed Oct 13, 2010
Renee Burrows answered:
I have a tutorial on how to search this on the link below. The site for searching leases is free and requires no registration. The only kicker is that you have to enter the RECORDED subdivision name if you are searching subdivision. Otherwise you can search by street, zip code, close date, area, etc. It's pretty comprehensive, enjoy: ... more
1 vote 2 answers Share Flag
Thu Sep 16, 2010
Sandy Van answered:
If you read the article that was just published in Las Vegas Sun (link below), homes in certain zip codes have seen a double digit increase in prices. In addition, today at a local seminar on real estate trends, the local association president of the NAR Rick Shelton stated that the market was probably oversold by 15 percent. That is a built in profit of 15 percent in certain circumstances. This is a great time to buy in Las Vegas, its at a historic low, and basically up until now people have not been able to cash flow. Prior it was a good thing to break even with rents, now you can actually cash flow. In addition, loan rates are also at a historic low. People forget to factor in loan rates when puchasing a house. The price may be low, but the loan rate is what kills you in the long run. So buy now, and give me a call if you do.

Sandy Van
Realtor-Terri Robinson Team
Keller Williams Marketplace I
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0 votes 86 answers Share Flag
Tue Sep 7, 2010
Melissa Towbin answered:
Watch for it on the REO market, sorry party is over. The homeowner is now the bank, therefore the contract is no longer valid. It's so common and so complicated. If your state "auctions" properties, you could try going to the auction to buy it. The seller will know who is listing it by the "cash for keys" offer. They could let you know, or your agent know, and contact that REO agent. ... more
0 votes 7 answers Share Flag
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