Nevada Senate Passes Bill to Amend 'Super-Priority Lien' Law

702-379-3401
www.DaveRadcliffeVegas.com 

Homeowners & HOAs Need to Know: The Nevada Senate Passes Bill to Amend 'Super-Priority Lien' Law

We promised to keep you up to date with the Super-Priority Lien Law and created this video series back in October to help you understand how it affects Nevada homeowners. Take a look at the latest coming out of the legislature and how this new bill will amend the law.

6/2/15 DS News Reports the following story:

The Nevada State Senate passed a bill at the last minute just before the end its legislative session that revises the provisions of a law that allows homeowner's associations (HOAs) to foreclose non-judicially on a residential home when the homeowner's HOA dues become delinquent, according to the Nevada State Legislature. 

Nevada Senate Bill 306, a bi-partisan bill sponsored by Nevada State Senators Aaron Ford (Democrat) and Scott Hammond (Republican) in March, was approved late last week just before the legislative session ended on Sunday. The bill was created in response to the controversy created by a ruling handed down by the Nevada State Supreme Court last September that gave HOAs authority to attach "super-priority lien" status to a mortgage, this allowing them to extinguish a mortgage on a home where the owner is delinquent on HOA dues without going through the courts. Keep reading...

Written by Nickel Lowman
With content quoted from DS News
For Dave Radcliffe, The Radcliffe Group
Keller Williams Realty Southwest
702-379-3401
www.DaveRadcliffeVegas.com

2015 Las Vegas Economy and Real Estate Crystal Ball Report

2015 Crystal Ball Report- Las Vegas Real Estate

Market Updates:

David Radcliffe of the Radcliffe Group of Keller Williams Realty Las Vegas is reporting form the West end of Summerlin on Las Vegas Real Estate Developments and The Local Economy as it relates to Real Estate. We believe keeping you updated and informed on the real estate market and home values is just as important as keeping you informed about how the local economy is impacted. We have video series available on these topics and others on our YouTube Channel. Subscribe today for the latest updates about Las Vegas, Centennial Hills, North Las Vegas and Summerlin.

Rates:

Interest rates should stay pretty stable most of the year 4.25-4.50% in place most of the year.

Values:

Moderate increase in value estimated at a 3-5%, and some areas increasing at a rate of 8-10% such as Summerlin. This is a good steady rate for home owners.

Inventory:

Slight inventory increases, current inventory started the year at 6,000 homes on the market we currently we are at 8,200 available homes for sale. I expect it should increase slightly. It will create more of a balanced market when inventory increases.

Foreclosures:

More foreclosures are hitting the market 10.5-11.0% of the Las Vegas Real Estate Market is foreclosures. It is slightly trending up from earlier in the year.

HOA Foreclosures:

Super Priority Liens legislative action is expected in June and July, then court challenges will begin and we expect legal opinion to be released soon. Be sure to check out our video series to learn more about how a Homeowners Association can lien your property and foreclose and the property can be sold for pennies on the dollar. We will have an update for you soon.

Lending Changes:

FHFA lending has announced changes. We expect to see “Lender Buy Back” portions where they really put heat on lenders, unnecessarily, which was pushing mortgages back if not done 100% right. If standards relax a bit, we might see lenders relax some lending guidelines.

Land:

Land prices are currently at $400K an acre, we don’t expect the market can absorb that going any higher, I expect land costs to stabilize and not go any higher, as developers cannot pass the costs on to the consumer.

Las Vegas Strip:

Stadium projects less than optimistic that they will happen, don’t see the cash flow. We will see some action and will update you as we know more.

Caesars will probably file Chapter 11 Bankruptcy, operationally it probably won’t make much of a change, but perhaps we will see some fall out.

Las Vegas Economy:

Gas prices are down 25%, oil has dropped down below $60 a barrel;, this may affect airline prices, soon, although it has not yet. It would be great for the local tourism and economy. Tourism has increase 3-4% this year, it would be great if it continues to.

Thank you so much for watching. If you need more information go to my website or give me call. As always, we always love to talk to you about all of your Las Vegas, Centennial Hills, Summerlin, and North Las Vegas real estate needs. Happy New Year from the Radcliffe Group at Keller Williams Realty Southwest Las Vegas 702-379-3401 www.DaveRadcliffeVegas.com

Dave Radcliffe, The Radcliffe Group
Keller Williams Realty Southwest
702-379-3401
www.DaveRadcliffeVegas.com

Las Vegas Appraisal Institute Interviews Top Expert Realtor- David Radcliffe

Dave Radcliffe Featured at the Las Vegas Market Symposium

The Las Vegas Chapter of the Appraisal Institute has invited David Radcliffe, Realtor/Owner of The Radcliffe Group of Keller Williams Realty Southwest Las Vegas to be an expert panelist at the 2014 symposium. As a top producing Realtor, Dave reports regularly on the current real estate market in Las Vegas to include some of his specialty areas such as Summerlin, Centennial Hills and North Las Vegas. Dave has a passion to educate the community and a heart for the Military, with much involvement with Nellis Air Force Base and Las Vegas Metro Police Law Enforcement Departments and Fire Teams and had special offers available for those serving. Dave is well versed in the current real estate market conditions including Single Family Residential, New Construction and Luxury homes in the greater Las Vegas area. Dave has created a video series on the current hot topic of HOA Super Priority Lien Ruling, Credit Issues and Increasing your Credit Score, The Las Vegas Foreclosure Market, General Home Buyer and Home Seller Education Series and Where Law Meets Real Estate. Subscribe to his YouTube Channel to get all of the latest updates. Give Dave a call to learn about how he can help represent you in your next real estate transaction. (702)379-3401 www.DaveRadcliffeVegas.com--   

Las Vegas Market Symposium Featuring guest panelist David Radcliffe

Written by Nickel Lowman

Subscribe to his YouTube Channel to get all of the latest updates. Give Dave a call to learn about how he can help represent you in your next real estate transaction. (702)379-3401 www.DaveRadcliffeVegas.com--