Too many people are questioning whether or not they will see an increase in foreclosures heading into 2014. Real estate guru, Dean Graziosi ponders this as well. He is an acclaimed author, and a genius when it comes to matters of real estate. Mr. Graziosi is a professional investor who could very well help us answer this mystery, and possibly be the only man who could professionally answer our worry. What effect will the taxes and the supposedly fix of the economy do for potential buyers who seek to own a home in the City of Sin? Will there be changes in the upcoming year involving short sales? These are basic queries on consumer’s minds nowadays when it comes to the real estate market.
2014 is very likely to see a small increase in foreclosures thanks to the number of defaulted sales recently in Las Vegas. The economy seemed to bring high hopes to residents, and the renters decided to buy. Unfortunately, their paychecks weren’t big enough as they had imagined which caused and will continue to result in foreclosures of homes they jumped the gun and bought. The Tax Relief Act, which was a concern for Dean Graziosi as well, always had a definite impact on the market in Las Vegas. Shadow inventory was an apprehension, too, but according to Wells Fargo and John Guedry, the president of Bank of Nevada claims it’s non-existent. Most residents who have true financial hardship are no longer to do a short sale because they won’t be able to afford the tax. Which, in turn will result in fewer homes to be seen on the market upcoming in 2014.
And, if those same people do sell and cannot afford the tax, then they are sadly forced to file bankruptcy, which is all too easy to do. On, the plus side, if one can prove insolvency, then the tax wouldn’t apply to them, and they would be exempt. Only then could they proceed with a short sale and dismiss worries about paying on a deficiency. Just as 2013 has been full of changes in the market, hopefully the trend will continue into the next year.
Dean Graziosi is an expert when it comes to matters of the heart especially concerning real estate. His numerous groups, works of charity and media appearances has made him well-known, and the one to give us the best advice out there. He’s controlled investor’s forums and groups to help past, present and future homeowners within Las Vegas for a number of years. Las Vegas is the entertainment capital of the world and it has a huge job market. Why exactly many people were forced into foreclosure, nobody knows. But, Mr.
Graziosi’s numerous books which include helpful hints, tips and strategies could benefit one’s lifestyle, and prove to be a savior for you, and your family. He brings hope, like a mirage in the desert to potential buyers before they make their next big move, to buy or sell. Can foreclosures be reversed in Las Vegas? Of course they can. All we need is a little inspiration, belief and hard work.