New Hope for Renters in Foreclosed Properties

Fannie Mae annouced a new program allowing renters to stay in their homes that they rent that are in foreclosure which means no eviction process. We get calls weekly from renters who are shocked to find out that their landlord is not paying the mortgage and then the foreclosure process hits. Read more about this directly on Fannie Mae.

Manhattan West Project condos put on hold

According to Channel 13 Action News

700 condos under construction in Southwest at the 215 and Russell are now on hold.

Funding has reportedly dried up for the $350 million Manhattan West Project.

Gemstone Development says its facing increased costs including charges to rework parts of the project that weren't built correctly.

It's uncertain when new funding can be secured and the sales center remains closed.

eep it tuned to Channel 13 Action News.

Let's Start Again - Mira Villa Condos in Summerlin

The luxury condo complex Mira Villa is coming out of Bankruptcy with approval to complete 113 units. Mira Villa is located near the JW Marriott, Queensridge and the up and coming Tivoli Village near Boca Park. Great location. More details to come.

MGM Mirage City Center Moving Along

MGM Mirage City Center continues to grow as Vdara, Veer Towers, Mandarin Oriental Las Vegas and The Harmon move forward towards completion.

Contact us at Triple8 Associates at 702-372-2671 for more info on unit availabilty.

Congratulations to Melissa Zimbelman Women's Council of REALTORS® Las Vegas Chapter

Last night, Women's Council of REALTORS® Installation of Melissa Zimbleman, President and 2009 Line Officers and Immediately Following the Las Vegas Chapter 40th Anniversary Celebration at the Las Vegas Country Club.

Congratulations to Melissa and her 2009 Board! We wish you the best and support you 100%.

Jason & Olivia
Triple8 Associates Inc'
Las Vegas Real Estate Brokerage and Property Management

Banks Paying More Attention to REO properties

We have noticed that more and more REO properties are being fixed up by the bank. Over the past 6 months 70% of all sales have been REO properties so those properties were probably in better shape than what is left. We have been doing REO tours over the past 3 weeks and we have seen a ton of properties in bad shape with DOM stats ranging in the high 7 months plus.
So we have seen crews in condos and single family homes putting low grade carpet and paint which is just enough to get it sold.

A good sign the market is turning and banks have adjusted to the market. Their adjustment was like making a u-turn in a aircraft carrier which dosent turn on a dime. Good news all in all.

Concordia Homes Closes Doors in Vegas

Concordia Homes of Nevada has closed its sales offices and said they will be refunding deposits on homes that have yet to start construction, as reported on the Review Journal via an industry source.

The Henderson-based home builder has not gone out business and has not filed for bankruptcy, but it will not be selling any new homes, Home Builders Research principal Dennis Smith said.

If you are considering purchasing a new home do your homework or give us a call at Triple8 Associates. We keep a close eye on the best deals in the New home Sector. Search New Homes Here or give us a call at 702-835-9298.