Posted by John McClelland on July 09, 2010 in
On this blog we have discussed several times about the amount of investors absorbing inventory in our market. We've bought a lot of homes for investors in the past year but it has really piled up in the past few months. Many of these properties obtain solid returns, especially among older properties which are often getting 8-14% ces. It is difficult to find these returns in any asset class in today's world. Inman News has a great article on this phenomenon in Las Vegas and elsewhere.
http://www.inman.com/bu... read more
The extension on the closing date for the homebuyer tax credit has been signed. This is an extension on the closing date of homes under contract before April 30, not a Homebuyer Tax Credit Part III: The Credit Continues. This extension will help homebuyers obtain the credit on homes that otherwise would have missed the June 30 deadline. Good news for buyers under contract, especially for Las Vegas in which a lot of inventory is short sale. These often take several months to close.
http://www.reuters.com/articl... read more