FED CREATES OPPORTUNITIES FOR SUMMERLIN REAL ESTATE

The financial news over the last couple of weeks has raised deep concerns that we are heading for a recession. Rather than scaring smart investors, many look for increased opportunities in real estate and other investments during these difficult times. The Fed has taken a major step to try to curtail some of the tailspin by an emergency rate cut of ¾ point to the fed funds rate this week, dropping it to 3.5%. There is new information today, that the fed may drop the fed funds rate by another ¾ point next week. What does this mean for you? Well, it may be a great time to tap into some of the available equity in your home while variable interest rates for products like home equity lines of credit enjoy reduced rates. You could use this equity to pour into deeply-discounted real estate in the Summerlin area of Las Vegas. Summerlin, like the rest of the Vegas Valley, has experienced its fair share of foreclosures and short sales over the past year or two, and the situation is expected to continue into 2009, according to many of the top market experts, including Dale Snyder of the Snyder Group at Remax Central on W. Charleston in Summerlin. Dale has many properties available, and has stated recently that some of the “good buys” have STILL been experiencing multiple offers even in this down market. Dale has listed a couple of these properties on his Summerlin real estate website.

Drop in Dow Jones creates long-term rate improvements

Smart investors realize that a down market is the best time to think about purchasing quality real estate in areas of markets that are the most likely to increase their values over the long-term. Summerlin, Nevada is one of those areas. Since its inception as the largest master-planned community in America in 1990, Summerlin has experienced record property value increases and has enjoyed a reputation as one of the best areas of Las Vegas to call home. As a Summerlin resident since 2003, I can attest that the amenities and family atmosphere of Summerlin make it seem like a city within a city and an escape from the bright lights and craziness associated with the strip. With 10 billion of commercial construction currently happening in Las Vegas and all the expected jobs that it will bring, it is only a matter of time before we start seeing this market turn around, and Summerlin will continue to be one of the most desirable areas of town for the foreseeable future. If you are looking to re-finance your home or purchase a new home, whether it’s for residential purposes or as an investment property, now may be one of the best times to do it. One advantage to the decline of the Dow Jones over the past few days has been that investors tend to move their money into bonds. This influx of money into the bond market means reduced longer-term rates. For all the doom and gloom that is out there right now, the truth is that long-term rates are STILL at very close levels to where they were at the height of the boom. As long as you have good credit and can document your income, there are many excellent programs and rates available for you.

If you’re looking at purchasing an investment property, there is further good news, as many new renters are moving to Vegas and people in the sub-prime market are finding it difficult to qualify for loans and forced to rent. As an owner of investment properties myself in the Summerlin area, I have experienced high occupancy rates coupled with increasing rents. Please contact me for more information on this as I can provide you with Realtor and investment financing information to put you into the perfect program and situation, whether it’s a purchase for yourself, or for your latest real estate investment.

If have questions or are ready to become a client, please contact:

Timothy Hartman / Luxury Financier
Luxury Mortgage Group
Direct: 702-370-0105
Timothy@LuxuryMortgageGroup.com