Low Home Prices Attract New Buyers

Las Vegas home prices have continued to dip, with the September 2011 prices dropping to early 1998 levels. The city is in  a real tough spot as unemployment continues to hover over 13% and the title of highest negative equity percentage in  the country was given to the city in September by mortgage data provider CoreLogic, which reported that 61% of the cities mortgaged properties are underwater.

There is however a little sunshine peering through the gloom, a silver lining of opportunity in the cities hardships. Home prices have plummeted so low that there are insanely affordable prices on the market, enticing new homebuyers and driving the flow of home resale’s. 40,033 existing homes were resold in the Las Vegas Valley from January to October 2011,  a number that hasn’t been matched since the record high in 2005 according to The Las Vegas Sun’s article “Plummeting home prices entice first-time homebuyers

What does this all mean for you?  Well if you’re looking to buy a home, it’s a pretty good time to buy if you have the cash or can get a loan and are willing to patiently sift through deals. There are plenty of options but they may not all be right for you.

There are great homes being sold for incredibly low prices right now; go out and find the one for you. Premier Mortgage Lending can help you determine your buying capacity  and lead you to the type of mortgage best suited for your needs, whether it be a traditional mortgage or a privately-funded loan. Additionally, through our privately-funded division Premier can help you purchase a home even if you’ve experienced a foreclosure or short sale through our exclusive AnotherChanceNevada home purchase program.

To learn more about mortgage prequalification or to schedule an appointment call 702-485-6600

Home Ownership Still the American Dream

The white picket fence may have fallen out of favor but the American dream of owning a home is as strong as ever. 70% of respondents in a survey conducted by San Francisco based real estate website Trulia.com viewed home-ownership as an integral part of their own dreams and aspirations.

Las Vegas’s median existing home prices have plummeted so far from their peak that coupled with low interest rates it would seem as though it’s the perfect time to invest in a house, an investment that 57% of homeowners say was one of the best long-term investments that they could make. Unfortunately the roadblocks to ownership are too numerous for many to overcome, even with low home prices. Doubts about qualifying for a mortgage, being in debt, having poor credit, and difficulty affording a down payment are all reasons stopping potential homeowners from fulfilling their dreams according to the Las Vegas Review Journal’s September 21st, 2011 article “Poll shows home ownership still American dream.”

There are many good people who need a second a chance, and Premier Mortgage is committed to helping those people get into homes. The “Another Chance” program gives an opportunity for people who may have experienced financial setbacks to rebuild their lives and get back into a home of their own.

Don’t give up on your American dream; you CAN get another chance. Visitwww.AnotherChanceNevada.com