Las Vegas Real Estate News Update
Las Vegas Real Estate News UPDATE…
The Las Vegas real estate market is full of surprises. And if you are one out of ten homeowners that is completely upside down on your mortgage, opening your mail can be a surprise, and intimidating. Answering your phone can be nerve racking, and worrying about what to do can cause sleepless nights.
As a real estate practitioner for over 30 years I guess the first thing I would recommend is Stop Worrying and “Do Not Feel Guilty”. That is the first emotional thought one feels, it’s natural. Of course, we signed a contract, we agreed to an obligation, we made a promise, we owe the bank.
But is it really your fault? Or is it a combination of politicians, government regulations, greed, market manipulation, and yes overzealous buyers thinking the market could never go down. Well, honestly it is all of the above. Your decision was only a small part in the whole process. So, don’t blame yourself and don’t feel guilty if you’re in over your head, you have alternatives.
The best thing now is to look at all your options. If you modify your mortgage it could take almost 15 years to regain any equity in your home, so be careful. If you need to sell, “you don’t need to pay anyone” to get your bank to remove the deficiency from your mortgage.
Ask a knowledgeable Realtor, specifically one who has special training in dealing with these issues, a CDPE designation means your agent has acquired specialized training in dealing with short sales.
Good luck and most of all hang in there your not alone.
To Your RealEstate Success,
John Edmunds
John Edmunds & Associates REO Broker/CDPE/SFR Short Sale Specialists.
Realty One Group 2831 St. Rose Pkwy, Suite 100
Henderson, NV 89052
702-373-9229 Cell
VegasPpty@aol.com
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