Join us at the next FREE Short Sale Seminar

80% of Las Vegas Homeowners are Underwater.

Do You Have a Fool-Proof STRATEGY to Keep You & Your Assets from Sinking?

What do you do in a real estate market like this? Do you hold on to your property that’s slowly sinking away, or do you take action now and prevent further loss? What strategies can you employ to save what you can?

The Dulcie Crawford Group is hosting a FREE informative seminar on Saturday, August 27th, 1:30 to 3:00 PM to discuss viable strategies that can help you. As a Nevada property owner, you’re probably in the same situation as 80% of the population.

Are you thinking of walking away because you think there is no other way out? You have questions, we may have the answers. There are options! Before you do anything, give us a chance to show you how WE CAN HELP.

Get answers from the experts who can help!

• Dulcie Crawford—Realtor, 13 years professional experience, Las Vegas native, Short Sale/Foreclosure Resource Specialist, Top Producer in Short Sale & Distressed Properties
• Atty. Robert Noggle, ESQ, Noggle Law PLLC – One of NV’s Foremost Law Firms in Real Estate Short Sale Negotiation 
• Atty. Martin Prybylski, ESQ, Robertson & Benevento – One of NV’s Highly Experienced Bankruptcy Attorneys
• A Representative from Gary Fales & Associates—One of NV’s Top Legal Firms in Asset Trust Protection 
• Bryce Reynolds, Senior Mortgage Specialist, All Western Mortgage Inc.—Industry veteran with almost 20 years experience.

 Among the topics to be covered are:

• Loan Modification —Solution or Myth?
• Short Sale Strategies that Lead to a Deficiency Release
• How to Walk Away from Debt But Still Protect Your Assets
• Your Credit After A Short Sale, Foreclosure or Bankruptcy
• Asset Trust Protection— why you need to have one to protect your family
• Do you need legal representation? We have partnered with a leading short sale and asset protection attorneys to offer you FREE consultation.

Please visit our sign-up page to register for this event. If you have any questions or need help signing up, contact us at 702-285-1990, 702-588-6842 or email DulcieCrawford@gmail.com. Please feel free to forward this email to anyone who you think can benefit from this seminar. We look forward to seeing you there!

Foreclosure Rates Decline on Both Quarterly, Annual Basis

You’ve probably heard or read it: foreclosure rates have declined for the last quarter and compared to last year’s. But what do those numbers really mean? Below is a straightforward article from one of our title companies. Please feel free to pass this along to your friends and family.

Please note: these statistics are national averages. The numbers for the Las Vegas area are not typical of the national rate. Feel free to call our office for up-to-date reports for foreclosures and sales in our local market and we would be happy to send you the latest figures.

The number of foreclosure filings for the second quarter of this year was the lowest reported since the fourth quarter of 2007, according to RealtyTrac’s Midyear 2011 Foreclosure Market Report released Thursday.

All categories of foreclosures showed decreases on both a quarterly and annual basis. Totaling 608,235 for the quarter, foreclosure filings showed an 11 percent decrease from the first quarter of the year and a 32 percent decrease from the second quarter of 2010.

The total number of foreclosure filings for the first half of 2011 was 1,170,402, demonstrating a 25 percent decrease from the previous six months and a 29 percent decrease from the first half of 2010.

According to RealtyTrac, 0.9 percent of all U.S. housing units received at least one foreclosure filing in the first six months of 2011. Monthly foreclosure filings for the month of June totaled 222,740, a 4 percent increase from May and a 29 percent decrease from June 2010.

June marked the ninth consecutive month in which foreclosure activity declined on a year-over-year basis. However, June showed month-over-month increases in default notices, scheduled auctions, and REOs.

While declining foreclosure filings might ignite encouragement, RealtyTrac CEO James J. Saccacio warns these numbers might not point to improvements in the market. “Unfortunately, with unemployment rates inching back up, consumer confidence weak and home sales and prices continuing to languish, this doesn’t appear to be the case,” Saccacio says.

Saccacio estimates that due to processing and procedural delays, up to 1 million foreclosure actions that should have taken place this year, will be delayed until 2012 or later. “This casts an ominous shadow over the housing market, where recovery is unlikely to happen until the current and forthcoming inventory of distressed properties can be whittled down to a manageable number” Saccacio says.

While Nevada, at 5 percent, ranked highest in the nation in terms of foreclosure rate, California showed the highest total number of filings at 263,500. Arizona ranked second in states with highest foreclosure rates at 2.82 percent, while also ranking third in terms of total foreclosure filings with 77,525 for the first half of the year. Florida had the second-highest number of foreclosure filings at 113,641. Other states ranking in the top 10 for total foreclosure filings included Michigan (61,005), Georgia (60,870), Illinois (60,636), Texas (55,442), Nevada (53,217), Ohio (44,419), and Colorado (25,744).

In addition to Nevada and Arizona, states ranking in the top 10 for foreclosure rates were California (1.96 percent), Utah (1.65 percent), Georgia (1.50 percent), Idaho (1.49 percent), Michigan (1.34 percent), Florida (1.28 percent), Colorado (1.19 percent), and Illinois (1.15 percent).

The average number of days a U.S. property spent in the foreclosure process in the second quarter of 2011 was 318, showing an increase from both the first-quarter average of 298 days, and from the average reported for the second quarter of 2010, 227 days.

The foreclosure process spanned the highest number of days in New York at 966 days on average, followed by New Jersey with 944 days and Florida with 676 days. Foreclosures took the least amount of time in Texas, only 92 days on average, and Virginia, where foreclosures averaged 106 days.

The average number of days from foreclosure to sale for REOs sold in the second quarter of 2011 was 178, a slight increase from the first-quarter average of 176 and from the average in the second quarter of 2010, which was 164 days.

U.S. properties in foreclosure that sold in the second quarter of 2011 averaged 213 days from the start of the foreclosure process to the sale, a decrease from the 228 day average in the first quarter of 2011 and increase from the 195 day average in the second quarter of 2010.

But wait! Foreclosure doesn’t have to be your only recourse! Have you thought about short sale? The Dulcie Crawford Group is conducting a FREE educational seminar that will discuss this and other possible strategies, on Saturday, August 27th, 1:30 PM. More information can be found at our website.

Please sign-up here.

NV Legislative Updates That You Should Know

The 76th Legislative Session adjourned on June 7th, and we want to share with you some of the more important bills that concern the real estate industry and therefore, may affect you as a property owner.

AB273 – Passed/Became Law
NRS 40.455 states that the holder of a mortgage can sue to collect a deficiency within 6 months after the foreclosure sale or trustee sale. The new law, AB 273, states that a holder of a second mortgage must sue within 6 months for deficiencies resulting from a foreclosure sale, trustee sale, short sale or deed in lieu of foreclosure. This is how the laws work together:

•  First mortgage loans – Deficiency collection lawsuits must be filed within six months after a foreclosure sale.
• First mortgage loans – Deficiencies can only be collected on first loans taken out BEFORE October 1, 2009. First loans taken out after that date are non-recourse loans.
• Second mortgage loans – Some collection lawsuits must be filed within six months. The six month limit on deficiency collections only applies to foreclosure sales, trustee sales, short sales and deeds in lieu of foreclosure that are sold or have sales closed AFTER July 1, 2011.
• Second Mortgage loans – Deficiencies can only be collected on second loans taken out BEFORE June 10, 2011. Second loans taken out after that date are non-recourse loans.

Note: New laws do not impact First mortgage loans for short sales – unless the deficiency judgment is successfully negotiated in the short sale, the lien holder has 6 years to pursue a deficiency judgment after a short sale.

SB 414 – Passed/Became Law

This bill does two main things:

• It prohibits a banking or other financial institution from unreasonably delaying its response to an offer for a short sale on real property secured by a residential mortgage loan. It makes it a misdemeanor for the bank to unreasonably withhold short sale approval, and spells out that acceptance or rejection of an offer should be received within 90 days.
• It also prohibits a bank from getting a deficiency judgment if they agreed to a short sale (under certain circumstances). Personally, I am not sure how this can be enforced against out of state banks, etc., but knowing that the law is there could potentially speed up the short sale process.

SB403 will make sure the Demand Letter from the HOA is good for 15 days. It also provides for noticing provisions if the demand changes within the 15-day timeframe.

FOR ALL OF US: DON’T TEXT AND DRIVE!
SB140 prohibits the use of a cell phone effective July 1, 2011 without the use of a hands free devise. You cannot text, IM, or browse the internet. This is considered a primary offense meaning you can be pulled over and cited. Warnings will be given until January 1, 2012 when they will begin issuing citations. So go get that hands-free gadget if you don’t have one already, and no more texting while driving!

This recap was provided by the Nevada Association of Realtors, (NVAR), which provides services to 15,000 REALTORS® throughout Nevada. NVAR is invested in the success of its members by providing services and advocating for private property rights.

80% of Las Vegas Homeowners are Underwater. What can you do to protect yourself and your assets?

Find out at the next FREE power-packed educational seminar that The Dulcie Crawford Group is hosting on Saturday, June 18, 10:30 AM. The seminar will also look into what the future holds for Las Vegas’ real estate market. As a Nevada property owner, you’re probably in the same situation as 80% of the population. Is Bankruptcy the safest and only option for you to dispose of a poor real estate investment? Are you thinking of walking away because you think there is no other way out? There are other options! You need the right strategies that give you all the alternatives available to you to get rid of an inopportune investment. Before you do anything, give us a chance to show you how WE CAN HELP.

Perhaps, finding out more about these other topics will benefit you too:

• Loan Modification — Solution or Myth?
• Short Sale Strategies that Lead to a Deficiency Release
• How to Walk Away from Debt But Still Protect Your Assets
• Asset Trust Protection—why you need to have one to protect your family
• 2011 Changes to the Government Aid Programs like HAMP and HAFA
• Do you need legal representation? We have partnered with a leading short sale attorney to offer you consultation fee for as little as $200

This power-packed presentation will be conducted by some of the industry’s leading resources for Nevada real estate. Get the facts straight from the experts who can help!

• Dulcie Crawford—Realtor, 13 years professional experience, Las Vegas native, Short Sale/Foreclosure Resource Specialist, Top Producer in Short Sale & Distressed Properties
• Atty. Carlos McDade, ESQ, Black & Lobello – One of NV’s Foremost Law Firms in Real Estate Short Sale Negotiation and Asset Protection Laws
• Atty. Martin Prybylski, ESQ, Robertson & Benevento – One of NV’s Highly Experienced Bankruptcy Attorneys

This is an event you don’t want to miss. Please mark your calendars:

Saturday, June 18th, 10:30 AM – 12:30 PM

Realty One Group Seminar Room

9089 S. Pecos Road Suite 3400, Henderson.

RSVP by June16 to reserve your seat at: http://dulciecrawford.com/ShortSaleSeminar.ubr.

Remember: It doesn’t cost you anything to attend but it can very well give you the much needed professional guidance you need so you can make the best decision. Please feel free to pass along this information to a family, friend or neighbor who you think can also benefit from it. If you have any questions or need help signing up for the seminar, please contact us at: 702.588.6842, 702.285.1990, or dulciecrawford@gmail.com.

National Open House Weekend on June 4 & 5 Aims to Rally Real Estate Market

The National Association of Realtors, in partnership with the Greater Las Vegas Association of Realtors and the Las Vegas Review Journal, is scheduled to hold the Nationwide Open House Weekend on June 4 & 5. This is a WIN-WIN situation for both buyers and sellers as all sectors in the real estate market are involved to rally the still sluggish housing environment. Summer is usually a busy time for buying and selling and we hope to kick start the season with this event.


Why should buyers participate in Open House Weekend?

Reason #1: Open House Weekend is a great opportunity for buyers to shop for anew home from a wide selection of homes while interest rates are still low and affordability is at an all-time high. After all, most economists say that it's not a matter of "if" mortgage rates will go up, it's "when."

Reason #2: REALTORS® are opening the doors to home ownership by simplifying the house-hunting process. Open House Weekend is a time-saver by offering buyers a convenient way to visit a large number of homes in a short period of time.

Reason #3: This event offers buyers the chance to see REALTORS® in action. Open House Weekend is fantastic way for buyers to find an approachable, knowledgeable expert that can help them navigate the home purchasing process.

Buyers: Map out your open house route! www.lvrj.com/realestate . You can also check out the list of properties that are open here: http://www.lasvegasrealtor.com/openhouse

Why should sellers participate in Open House Weekend?

Reason #1: Open House Weekend is a tremendous opportunity for sellers to get their properties noticed. This event is designed to give sellers the chance to showcase their homes and, as a result, draw the attention of prospective buyers.

Reason #2: This event is a unique way for sellers to find out more about their local markets. Open House Weekend will allow sellers to see first-hand comparable homes for sale. This will provide insight on many other aspects of a real estate transaction, including ways to improve marketability of their homes.

Reason #3: It's not just potential buyers who will attend Open House Weekend. Other REALTORS®, who can provide valuable feedback on a home and its staging, will participate in the event.

Sellers: Prepare your home! www.LasVegasREALTOR.com/openhouse


We fully support this cause and are holding open houses in these homes:

• 2537 Sundew Ave, Henderson: www.DulcieCrawford.com/92
• 3105 Cori Rosso Ln, Las Vegas: www.DulcieCrawford.com/102
• 357 Silverado Pines Ave, Las Vegas: www.DulcieCrawford.com/88

If you have any questions or wish to see any of the homes this weekend, please give us a call at 702-285-1990 or email DulcieCrawford@gmail.com

FREE EDUCATIONAL WORKSHOP ON Saturday, May 14

UNDERWATER? THINKING OF SHORT SELLING YOUR HOME?
We are a few days away from this highly informative real estate workshop that The Dulcie Crawford Group is hosting, together with two of Nevada's foremost attorneys in short sale representation and asset protection and trust law.

Among the topics to be covered are:

• Loan Modification — Solution or Myth? 
• Successful Strategies to Negotiate with the Bank on Your Mortgage
• How to Walk Away from Debt But Still Protect Your Assets
• Short Sale Strategies that Lead to a Deficiency Release
• 2011 Changes to the Government Aid Programs like HAMP and HAFA
• Do you need legal representation?
• Asset Trust Protection—why you need to have one to protect your family

Mark your calendars:

Saturday, May 14, 10:30 AM to 12:30 PM
Realty One Group Seminar Room
9089 S. Pecos Rd Suite 3400, Henderson, NV

Please share this event with your family and friends who you think might benefit from the wealth of information that will be presented FREE OF CHARGE during the seminar.

To register, simply visit http://dulciecrawford.myubertor.com/ShortSaleSeminar.ubr

We hope to see you at the event!

Read This If You Need More Time to Pay Your Taxes

We are reprinting this tax tip from the Internal Revenue Service’s website (http://www.irs.gov/). If you have questions related to your (tax) filing scenario, please contact a qualified tax professional. If you need a referral to one, please contact us at 702-588-6842 or 702-285-1990, or email dulciecraword@gmail.com.

IRS Tax Tip 2011-64, March 31, 2011

Taxpayers who owe taxes may be relieved to know that there are some options for those who owe and can’t afford to pay the full amount right away.

Here are the top 10 things the IRS wants you to know if you need more time to pay your taxes.

Taxpayers who are unable to pay all taxes due are encouraged to pay as much as possible. By paying as much as possible now, the amount of interest and penalties owed will be less.

1. Based on the circumstances, a taxpayer could qualify for an extension of time to pay, an installment agreement, temporary delay or an Offer in Compromise.  
2. If you cannot pay the full amount, taxpayers should immediately call the number or write to the address on the bill they receive.  
3. You may want to consider financing the full payment of your tax liability through a loan. The interest rate and fees charged by a bank or credit card company are usually lower than interest and penalties imposed by the Internal Revenue Code. 
4. If you cannot pay in full immediately, you may qualify for a short amount of additional time, up to 120 days, to pay in full. No fee is charged for this type of payment arrangement and this option may minimize the amount of penalties and interest you incur.  
5. You may also want to consider an installment agreement. This arrangement allows you to make monthly payments after a one-time fee of $105 is paid. If you choose to pay through a Direct Debit from your bank account, the fee is reduced to $52. Lower-income taxpayers may qualify for a reduced fee of $43. 
6. To apply for an installment agreement you can use the Online Payment Agreement application available on the IRS website; file a Form 9465, Installment Agreement Request; or call the IRS at the telephone number shown on your bill.  
7. In some cases, a taxpayer may qualify for an offer in compromise, an agreement between the taxpayer and the IRS that settles the taxpayer’s tax liabilities for less than the full amount owed. Generally, an offer will not be accepted if the IRS believes that the liability can be paid in full as a lump sum or through a payment agreement.  
8. Even if you set up an installment agreement, the IRS may still file a Notice of Federal Tax Lien to secure the government’s interest until you make the final payment.  
9. It is important to respond to an IRS notice. If you do not pay your tax liability in full or make an alternative payment arrangement, the IRS is entitled to take collection action.

More information on the collection process is available at http://www.irs.gov.

Links:

• Payment Options - Ways To Make a Payment
• Other Ways to Resolve Tax Debt That Could Save You Money
• Online Payment Agreement Application
• Form 9465, Installment Agreement Request
• Publication 966, The Secure Way to Pay Your Federal Taxes
• Publication 594, The IRS Collection Process