Harmony Homes Promotional event this week

I just read in the ReviewJournal.com that Harmony Homes has made June, its Summer Sales Blowout month and will be offering special pricing in each of their communities throughout the month. This free event to showcase eight new homes features entertainment for kids including games in the park, bounce houses, prizes. While the kids are having a blast, parents can tour these 8 homes from 10 a.m. to 4 p.m. Prices for these homes start at $139,900. When you think about it, you can buy one of these new homes right now and live in a wonderful community for less than many used homes are going for.

There are nine different floor plans available ranging from 1,286 square feet to 2,252 square feet. Those who attend the Summer Sales Blowout will be able to view four different model homes, each with its own unique layout, design and options. There will be a free lunch for attendees.

Harmony Springs is a great neighborhood for families, there is a grassy park where residents can relax and chit chat on the benches while they let their children play in the tot lot and playground. Throughout the summer months, there are outdoor movies and there is also a wonderful French Farmer’s Market every other Saturday.

During this Summer Sales Blowout, Harmony Springs will be offering incentives such as waiving 3% of closing costs for new buyers and a zero-down program for qualified buyers. When you add to that the $8,000 tax break being offered by the IRS for qualified first-time buyers, and the relatively low interest rates being offered by lenders, this Summer Sales Blowout could be a great opportunity for first-time homebuyers to get a great deal on a wonderful home in an excellent community.

The Summer Sales Blowout will continue until June 30.

No more buyer’s market

There are varying opinions out there concerning whether we are starting to see real estate markets improve. Some are saying that the reduced inventory of homes in many markets across the US is helping to bring home values closer to their historic norms. I cannot comment on other markets in the US, but it is pretty safe to say that it is no longer a buyer’s market here in Nevada. Though there are those who would tell you otherwise, I can attest to the fact that homes in Nevada are selling faster and for closer to asking price than they have in years. Maybe this is just a temporary spike in sales and dip in inventory, but for more than a year now, home sales have been increasing every month. Sure, there are those who will remain cautious and wait a little longer before trusting that this upward trend will continue, but from where I stand it is clear that we reached rock-bottom not too long ago and that we are now on our way back to a historical norm.

Lowballing, or making ridiculously low offers on a home, makes no sense anymore. Most real estate markets across the nation are showing signs of recovery and Nevada, which was one of the states that led us into our housing crisis a few years ago, is now leading us out of it. While many home sellers in Nevada had to price their homes competitively and accept some very low offers on their homes a year ago, they are now able to raise their asking prices and hold out for the highest bidder.

Many agree that it is first-time homebuyers who are driving existing home sales. Hopefully, lenders will continue to make it possible for those who want to purchase homes to do so. If those who want to buy are able to continue to receive financing, it really won’t be long now before we are back to where we should be in terms of the inventory of homes for sale.

Clark County and the surrounding areas June 2009 events

• June 12, 2009 – The Outdoor Picture Show, located at the Green Valley Ranch in Green Valley, this week’s movie is “Horton Hears a Who” starts at 8 pm.
• June 13, 2009 – Jazz on the Lake – Marque Mundy, located on the laws of Monte Lago Village in Lake Las Vegas. Free Admission for all.
• June 13, 2009 – World’s Collide – Mixed Martial Arts Event, located at Star of the Desert Arena in Primm. Call 702.679.5488 or visit the Primm Valley Casino Resorts website for more details. 
• June 14, 2009 – Las Vegas Youth Camerata Concert, located at the Winchester Cultural Center. For more information on this event call 702.455.7340 or visit the Winchester Cultural Center website.
• June 14, 2009 – David Copperfield, located at MGM Grand Hotel and Casino in Las Vegas, for more information  and tickets click here.
• June 17, 2009 – Blood Drive (donor will receive 51S baseball tickets) the blood drive will be held at SoutwestUSA Bank, for more information on this important event please call 702.853.7439
• June 18, 2009 – Third Thursday ARTSWALK, located at Water Street District in Henderson, come out and view great art, food and fun for the entire family. Call 702.267.2171 for more details on this event.
• June 18, 2009 – 2009 NHL Awards, held at the Palms Casino Resort in Las Vegas, you do not want to miss out on this event if you are a hockey fan, some of the best players will be in attendance. Call 702.942.7001 or visit the Palms Casino Resort website for more details.
• June 19-22, 2009 – Book Sale at Paseo Verde Valley Library in Henderson
• June 21, 2009 – Stars Among the Angels, celebrity variety show at the Santa Fe Hotel in Casino, features all of the local Las Vegas celebrities.  Fun for the entire family, admission is free.
• June 28, 2009 – Ribbon of Life, hundreds of artists come out for this great fundraiser that benefits HIV/AIDS, located at the Las Vegas Hilton, for more information visit the Golden Rainbow and Achievable Dream website.

Citigroup helping to avoid foreclosures

I just saw an article in the Las Vegas Review journal entitled, “Citigroup to help at-risk borrowers stay in homes“.  According to this article, Citigroup will be initiating a moratorium on most foreclosures in an attempt to help at-risk borrowers avoid foreclosures and keep their homes.  Over 4 million Americans homeowners were at least one payment behind on their mortgages at the end of June.  Citi has stated that it will not initiate a foreclosure or complete a foreclosure on any borrower who wants to stay in their home, as long as that home is their primary residence and so long as the borrower earns enough income to make affordable mortgage payments and is working in good faith with Citi.  This move is a means of to help cut financial losses and help homeowners get current on their payments.  Citi is also working to expand the moratorium to mortgages not held by Citigroup.

Citi plans to contact some 500,000 homeowners who are considered to need assistance in order to stay up-to-date on their mortgage payments, approximately 1/3 of all mortgages held by Citigroup.  Along with Bank of America, JPMorgan Chase & Co. and Wells Fargo, Citigroup is one of the four biggest US-based banks.  Unlike the other three banks who managed to post profits over the last four quarters, Citibank has reported losses.  Citibank hopes to help reduce their losses with this moratorium on foreclosures.  Citigroup plans to concentrate on areas that have been harder hit and have higher-than-average unemployment and foreclosure rates.  In all, this moratorium will affect some $20 billion in mortgages.

Even though Citi has avoided amortization loans, adjustable-rate mortgages and other risky mortgages, they have still felt the effects of the decline in national real estate markets.  Similarly, JPMorgan has been helping some of its customers since early 2007 and Bank of America will start to modify some 400,000 loans come December 1.  The US government plans to launch a program to help some 3 million borrowers avoid foreclosure but no details have been announced as of yet.

Tax rebate check cuts

I just ran across an article in the Las Vegas Review Journal online entitled, “Rebate program cuts proposed“. According to this article, the Nevada board of Examiners has cut the average tax rebate checks for residents who are 62 and older by approximately $10 per year. By law, Nevada residents who are 62 or older and earn less than $27,863 per household are eligible for rebates on the property taxes they paid the year before. However, the budget allotted for these rebates by the legislature this year was insufficient, so certain cutbacks had to be made. Another main reason for the cutbacks is that the Division of Aging Services has lost $243,000 due to the state’s budget cuts. Nevada, like many other states has had to make cutbacks because of the nation’s current economic woes.

This comes at a time when there are more older residents who are in need of financial help. According to Carol Sala, the Division of Aging Services administrator, 4,000 more people applied for rebates this year than last.

Though Nevada’ property tax rebate program for residents who are 62 or older has been functioning since the 1970s, there are still some who are not aware that they may potentially be eligible for rebates.

Persons who are 62 or older are eligible for up to $500 per year in rebates, although there are other restrictions besides the income limit. People who have more that $150,000 in liquid assets or whose homes have an assessed value of more than $200,000 will not qualify for the tax rebate checks.

Assuming that this rebate check cut is backed by the Legislature’s Interim Finance Committee on November 20, most folks should have their checks by mid-December. In all, about 12,711 residents can expect to receive checks. The average check is expected to be some $334.

Please click the following link if you would like to read this article in its entirety.

Las Vegas Parks and Recreation department’s Annual Northern Exposure 10K Race and Two-Mile Family Run/Walk

While reading the Las Vegas Review Journal online today, I saw an article entitled, “Pardee Homes will sponsor annual race” that reminded me that the annual 10K race and 2-mile family run/walk sponsored by Pardee Homes would be taking place this Saturday, November 8.  This year’s will be the eighth consecutive year that Pardee homes will be the title sponsor the city of North Las Vegas Parks and Recreation department’s Annual Northern Exposure 10K Race and Two-Mile Family Run/Walk.

This event will take place in Pardee’s master planned community of Eldorado, which is located at 6330 Camino Eldorado at Centennial Parkway in Las Vegas.  The 10K race and 2-mile run/walk bring folks together from all over the Las Vegas Valley and is a great way to help benefit the North Las Vegas Parks and recreation programs.  All proceeds from this event will go to the North Las Vegas Parks and recreation programs.

The two events will take place in different locations.  The 10k race will meander through the streets of Eldorado while the 2-mile run/walk will be held at a Seastrand Park in Eldorado because it is more suitable for families and strollers.  The 10k race will begin at 8 a.m. and the 2-mile run/walk will start at 8:30 a.m.

The top three overall winners, the top two in the master’s divisions and the top there in each age division, both male and female, will share in more than $3,000 in cash and prizes.

Entry fees for the 10K race will be $20 for adults, $15 for children 12 and under and $30 on the day of the event.  Entry for the 2-mile run/walk will cost $15 for adults and $10 for children 12 and under. 

Those interested in participating can pick up their entry forms at the North Las Vegas Neighborhood Recreation Center at 1638 N. Bruce St. or Silver Mesa Recreation Center located at 4025 Allen Lane.

There will be live entertainment including music as well as a health fair, food vendors and more.

If you would like more information about this annual event, please visit active.com or call 633-2650.  If you would like to read this article in its entirety, please click the following link.

HUGS helps Nevada homebuyers

I was just reading some articles in the reviewjournal.com when I saw an interesting article entitles, “HOPE FOR HOMEBUYERS: HUGS opens to first-time buyers“.  According to this article, Help Us Give to Our Schools (HUGS) is going to offer assistance for those who can no longer qualify for the Nehemiah down-payment assistance program.  HUGS is a down-payment assistance program which helps Clark County School District employees.  This program began offering assistance January 1 and became available to all first-time homebuyers in Nevada in September.  This program helps those who cannot afford it, pay the down payments or closing costs.

In order to qualify for assistance, prospective homeowners are required to:

• Attend one of HUGS’ homeowner seminars.
• Provide at least 1 percent of the down payment for their home.
• Use a HUGS Foundation mortgage agent or realtor.
• Occupy the home for at least three years.

Families and individuals who hope to qualify for assistance cannot earn more than $82,500 (families) or $41,000 (individuals) and cannot have liquid assets worth more than $15,000.

The Nehemiah program was eliminated as part of the Housing and Economic Recovery act of 2008.  The hugs program is different from Nehemiah in that it requires prospective homebuyers to provide at least 1% of the value of the home out of pocket.  The program’s restrictions help to ensure that only those who cannot provide the down payment or closing costs of a home may qualify.

Hugs is funded by donations as well as sponsor, partnership and membership fees, for example, membership costs $495 per year.  Current business partners include American West Homes, Amstar and Countrywide Bank.

What started out as a program to help attract new teachers to the area has become quite a popular program which has already helped over 100 teachers secure financing and is currently processing some 80 to 90 requests per month.

Please click to read this article in its entirety.

If you would like more information about HUGS, please visit hugsfoundation.com.

6th Annual Summerlin Arts Festival this weekend

I was reading the ReviewJournal.com when I ran across an article that reminded me that the 2008 Summerlin Arts festival would be taking place this coming weekend. This is the sixth consecutive year that La Strada dell’Arte and Celebration of the Arts will be joining forces to make this annual arts festival in Summerlin a reality. If you are not familiar with this annual arts festival, it is a great way to get out, meet some of your neighbors, and browse an excellent array of artworks from some great local and national artists and artisans.

The festival is scheduled to take place September 27 and 28 from 10 a.m. to 5 p.m. at the Summerlin Centre Community Park. There will be more than 120 artists displaying and selling their artwork while amateur and professional artists create temporary chalk paintings on the sidewalks. There will be pottery, glassworks, paintings, sculptures, jewelry, apparel, had-made soaps, mixed media and handcrafted dolls and woodcrafts. There will also be entertainment including daily performances from Stomp Out Loud starting at 1 p.m. as well as live music from ponder on Saturday and Jazz musician David Van Such on Sunday. Musical performances will run from 1:30 p.m. to 5 p.m. There will be food and beverages for sale to the public.

The Summerlin Arts Festival is free to the public and is a great way to spend the day and find some very interesting artwork to help decorate your home. If you would like to find out more about this annual arts festival in Summerlin, please visit www.summerlin.com or call 255-6645.

If you would like to read this article in its entirety, please click the following link.

Grand opening of Serrano in Mountain’s Edge

I was just reading the Review Journal online when I saw an article about September grand Opening of Serrano at Mountain’s Edge.  According to this article entitled, “Pardee Homes plans September grand opening of Serrano in Mountain’s Edge“, Pardee Homes will be holding a Grand Opening celebration for their newest master-planned development in the Mountain’s Edge community in Southwest Las Vegas.  Pardee’s newest addition includes three different floor plans.  These floor plans range in size from 1,850 to 2,682 square-feet on lots averaging 4,675 square-feet.  Buyers can choose one or two-story floor plans with three to six bedrooms.  Home prices in Serrano start in the high $200,000s.

These new homes have been constructed utilizing money-saving and energy-efficient features, creating what Pardee homes calls an EnergySmart neighborhood in Mountain’s Edge, one of the Las Vegas Valley’s premier master-planned communities.  Energy-saving amenities include spectrally selective glass, which helps keep homes cooler in summer and warmer in winter as well as sealed heating and air-conditioning ducts and insulated ceilings for increased energy efficiency.  All of these EnergySmart homes are certified to meet local energy code regulations.

Community amenities in Serrano include several parks, a discovery trail and playground/Tot Lots.

Click to read this article in the Las Vegas Review Journal.

Homegrown energy

For years, the Nevada Power Company has provided financial incentives for homeowners who have incorporated solar power systems in their homes.  I just read an article in the Las Vegas Review Journal online, which talks about a new way to save on energy costs, wind turbines.  Within a few days however, Nevada Power Co. and its affiliate, Sierra Pacific Power Co. will be doing the same for homeowners who choose to install wind turbines, or windmills.  Rebates will range from $1.50 per watt to $2.50 per watt depending on how much a particular wind system can generate.

The wind turbines can be installed at businesses, farms, homes, public buildings and schools.  Currently Clark County allows turbines, but it is still up in the air whether the turbines will be allowed in urban locations in other counties.  In 2007, the Las Vegas City Council approved the use of small wind turbines in some residential areas, but it will be up to individual homeowner associations whether or not they will be allowed in their communities.  The city of Reno has implemented a wind turbine ordinance and Washoe County is in the process of doing the same.

Nevada Power and Sierra Pacific Power will start accepting applications from those who want to adopt solar or wind power on September 4 at 10:00 a.m.  It is recommended that those who wish to participate in this rebate offer apply as soon as they can because they greatest rebates go very quickly.  Those residents with solar panels and wind turbines are eligible for net-metering, which means that when they are using less energy than they are creating thanks to the solar panels and turbines, their electric meter actually reverses and they sell back each kilowatt of excess energy that they sell back to the power company.

Click to read this article entitled, “Wind power to bring rebates“.