On May 26, 2009, shock waves hit the mortgage market as interest shot up after dropping into the 4 percent range for 30-year fixed-rate conforming loans. On May 29, the bond market rallied, lowering mortgage rates by about half of the previous days’ increase. This was followed by another rate hike as investors demanded higher interest rates on long-term government debt. Interest rates on 30-year fixed-rate home mortgages are tied to the 10-year Treasury rate.
According to Mike Kearns, sales manager for Woodside Homes, Woodside neighborhoods across Southern Nevada have seen an upturn in visitor numbers and sales over the past few months. “Our sales have steadily increased over the past four months. We definitely believe new home sales are making a comeback in Las Vegas,” he said.
Montclaire, one of Pardee Homes’ newest Southern Nevada neighborhoods, features homes that start from $284,950 in a well-established area of Henderson that is just off of Horizon Ridge Parkway and Jeffreys Street, according to Pardee Homes’ Regional Sales Director Rob Tuvell.
Q: Regarding Homeowners Associations trying to limit the number of rental units, is it possible that the association could adopt restrictions, and grandfather all units in until there is a change of ownership? I have not (heard) that discussed.
Q: We are looking to sell our house, but want/need out quickly due to some problems. At this point, we don’t care to make any money, just want our current mortgage to be paid off. What do you think about those companies that buy houses for cash without having to go through Realtors and long, drawn-out closing process? — J.A
Making your home more energy-efficient is not only good for the environment, it’s also good for your wallet, according to Annette Bubak, president of Nevada Energy Star Partners, a coalition of builders, manufacturers, utilities, consultants and other conservation-minded companies. According to Bubak, because energy efficient homes use less energy and fewer natural resources, they are less expensive to heat and cool.
The collection of custom-designed estates at Tuscan Cliffs in Southern Highlands has four residences completed and available for immediate move-in at thousands off their original prices.
Summerlin School Days, a three-week back-to-school promotion, concludes today and Sunday with a variety of activities at Villa Trieste, Summerlin’s first “green” neighborhood.
Tuscany Residential Village is offering a new home with four bedrooms and three baths at $94 per square foot.
Danica Patrick remains a hot topic despite being a meager fifth in IndyCar points and having won only once in her pro career.
Spring Valley opened the third quarter with an impressive, clock-eating drive, marching more than 85 yards, and forcing the defending Sunset Region champs back on their heels.