Platinum Home Mortgage Announces Major Expansion in the West

Carson, Calif. October 3, 2017-Residential mortgage lender Platinum Home Mortgage Corporation is pleased to welcome Michael J. Sweeney, who will assume the new role of divisional manager. Sweeney is a 25+ year veteran of the mortgage industry and will be responsible for recruiting and opening new offices throughout the West. Read More

1st Anniversary “Start Fresh Buy New Las Vegas”

By Nat Hodgson
Executive Director
Southern Nevada Home Builders Association

The Southern Nevada Home Builders Association recently marked the 1st anniversary of the “Start Fresh Buy New Las Vegas” online marketing campaign designed to help local Realtors and potential homebuyers navigate the dilemma of deciding whether to purchase a newly constructed home or a resale home.

The campaign, based at the website, www.BuyNewHomesLV.com, provides information about the long-term cost comparisons and benefits to consider before buying any home.

Since the launch in July 2016, the website has attracted more than 43,000 users; 61,300 sessions; 64,600 page views; with an average visitor duration of six minutes. The association is pleased that this campaign has been such a success. Read More

TnT Impact on the House Market of 2016

From the Home Builders Research, Inc

In November there were 762 new home recorded sales. This places our 2016 total at 7,035, a year to year increase of 890 closings, or 14.5 percent. It certainly appears that the new home segment of the Las Vegas housing industry is ending this year on a much stronger pace than we envisioned back in the first quarter of 2016. At the beginning of this year we felt that 2016 would produce a single digit year to year increase in new home closings. Although there were some positive signals from the area economists, there were still a lot of things that might limit new home sales in 2016, many of which we have discussed in our previous newsletters during the year.

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Millions of Spenders Are Ready to Come Back From the Mortgage Crisis

THE BLOOMBERG REPORT

The article, Millions of Spenders Are Ready to Come Back From the Mortgage Crisis, from www.bloomberg.com, reports that the number of people joining the rolls of those knocked from homeownership peaked seven years ago, so those blotches to their histories are starting to roll off the books right about now. The resulting improvement in credit scores means more Americans will find themselves with the ability and means to once again apply for loans, and not just for home purchases. “Improving credit scores might entice households to start borrowing more in general,” said Ralph McLaughlin, chief economist at real estate search engine Trulia. And what better time than now, when interest rates are so low. Negative events such as short sales, when a home is sold for less than what’s owed on it, and foreclosures generally roll off a person’s credit report after seven years, according to the three major providers of consumer credit scores and reports: Experian Plc, Equifax Inc. and TransUnion. With that anniversary fast approaching, better access to credit may be on the way for many. The obvious effect will be in stronger demand for homes, which may also translate into higher spending on durable goods such as appliances and furnishings, said Oubina. Consumers may also feel more comfortable applying for new credit cards, auto loans or other types of debt. A TransUnion study last year estimated that of the approximately 7 million consumers who were negatively impacted as the housing bubble burst -– including those who were either severely delinquent on their mortgages, negotiated a short sale or went into foreclosure — only 1.2 million had recovered enough by December 2014 to meet Fannie Mae selling guidelines. Based on their credit histories, the agency estimated that 2.2 million more could meet those criteria through 2019.

Here is the link to the entire article: http://www.bloomberg.com/news/articles/2016-07-07/america-s-post-foreclosure-consumers-are-ready-to-rejoin-economy