Several factors contribute towards making now the best time to invest in Summerlin REO homes.
Las Vegas, NV (PRWEB) February 18, 2010
As the first month of 2010 came to a close, Las Vegas housing analysts predict that the market will start showing signs of recovery as the year progresses, making now an excellent time to invest in Summerlin foreclosed homes and properties. With Summerlin being the Las Vegas metro area’s premier master-planned community, Summerlin bank-owned homes are some of the best real estate investments that can be made in the region. This is a fact that works toward the advantage of Summerlin sellers as well, especially in today’s market where best value properties stand out even more than usual.
Several factors contribute towards making now the best time to invest in Summerlin REO homes. For one thing, as explained by Summerlin short sale specialists Thompson Ender in their website ThompsonEnder.com, Summerlin has been one of the region’s most sought-after places to live since its inception. Its exceptional prospects for long-term growth are heartening to buyers and sellers both, with the former standing to benefit from a future rise in home values and the latter holding an unbeatable edge over all the other sellers in the metro area. Then there is also the fact that with the market expected to improve soon today’s low prices and low interest rates will not be sustained indefinitely.
Among other aspects worth considering if one is intending to invest in Summerlin foreclosed homes is the fact that the federal government has expanded and extended its home buyer tax credit. The tax credit will run through June and now not only includes first-time homebuyers, but move-up and repeat ones as well. The tax credit, which can go up to $8,000 for the former and up to $6,500 for the latter, is applicable to sales that occur after November 6, 2009 and on or before April 30, 2010 (extendable to June 30, 2010 for those with a binding sales contract signed by April 30). More information on eligibility, rules, and answers to FAQs can be found at http://www.federalhousingtaxcredit.com.
Also, and more significantly for sellers as well as buyers of Summerlin REO Homes, starting February 1, 2010 the HUD is temporarily lifting its prohibition on insuring a mortgage for a home which the seller has owned for less than 90 days. This means that sellers of Summerlin foreclosed homes can now sell to buyers who have FHA loans even if they have owned the property for less than 90 days.
Given the stringent requirements most lenders have these days FHA loans are the kinds of loans that many of today’s homebuyers have. With the lifting of the ban, sellers now have a wider market and buyers can now invest in good value, affordable properties that were formerly unavailable. It’s important to note that the prohibition will be lifted only for one year, however.
With the time limits on the HUD 90-day prohibition waiver and the home buyer tax credit, there truly is no better time than now to invest in Summerlin REO homes. For more information on selling and investing in Summerlin foreclosed homes and real estate, please visit ThompsonEnder.com.