Pat Yoest's (pyoestc21) Blog

Nevada leads the nation in percentage of homeowners who are underwater in the mortgages at 70%.  Nevada has more negative equity homeowners than Arizona at 51%, Florida at 48% and California at 34.1% according to Core Logic.  Mark Zandi, Moody's chief economist said there is twenty four trillion ...

This email sent by Ben and Chris Curry   Three months ago, if a buyer made an offer on our listing and was getting their loan from BOA 3 months ago, I would have thought nothing of it. Today, I would think that buyer is worthless. In my experience BOA can't close buyer loans. They made lots of pr...

There is a period after the down cycle or market when inventory is starting to be absorbed and there is a stable supply of real estate.  The supply doesn't increase or slowly at best.  Occupancy rates increase, supply tightens.  It is a great time to sell, the start of a seller's market.  Prices ...

That is the cry of the moment.  Selling short sales is like gambling at the casinos.  You take a long shot, sometimes you win, sometimes, you lose. The bank countered  me at at 145000 and the property was listed at $130000.  We offered close to $130000.  The property comps at $130000.  That means...

This is a day that you are supposed to rest from the fruits of your labor, just as Sundays are.  But, don't you just know it, when you are ready for a day of relaxation and rest, this hot client just has to look at houses. Every year it happe4ns to me and I always go to work when the client wants...

Friday, September 3, 2010 No Plans For Another Real Estate Tax Credit   Shaun Donovan, Secretary of Hud,  was a guest on a late night show.  When ask about extending the now expired tax credit ,  he  said the housing numbers for July were worse than expected, and that they are watching very caref...

This is the worst recession since the Great Depression.  But, is it indeed a recession,  or are we on the edge of a big cliff ready to fall off into the Valley of Depression.  I don't like the word depress and when you add ion to the word it is a disaster.  And that's what it is a disaster.  Rece...

Nevada is a non-judicial foreclosure state.  This means the bank doesn't have to go to court to foreclose they can foreclose by appointing a Trustee.  When the Trust Deed is signed, it will usually contain a "Power Of Sale Clause" which gives the Trustee the authority to sell the property to sati...

  Beware Of Rushing Into Things, Before you buy a short sale there are things you should be aware of. You have found the perfect home, and you are so excited.  Before you rush out  to put earnest money on it, there are many things you should know.Just because the property is listed for sale as a...

Loan mods are not the long term fix to end foreclosure problems.  All they do is buy some time.  The homeowner live's in the home payment free until the bank makes a decision and it often takes them a year,  or so to come to a decision.  Let's hope the homeowner has saved some money to be able to...