Thursday, July 21, 2005

Supreme Court Ruling Broadens Eminent Domain Laws

The Supreme Court ruled on Thursday June 23 that local governments have the right to seize privately owned homes and businesses for economic development even against the property owners will.

In an era of rapid urban development and suburban sprawl, this landmark ruling could have far reaching implications in almost every corner of the nation.

The ruling places the right of private home ownership in the hands of local governments and can be removed at the discretion of government officials.

While private property seizers under "eminent domain" laws are nothing new they have been used in the past primarily in the interest of public safety and only for public use.

This Supreme Court ruling broadens the scope and powers of eminent domain to now include seizures of homes and businesses to make way for private projects that serve a public purpose in promoting economic development.

In the 5-4 ruling Connecticut residents whose homes are scheduled for destruction for a privately owned office complex lost there last hope of retaining their property. The Connecticut homeowners argued cities only have the right to take their land for projects for public use, such as revitalization of blighted neighborhoods, schools or roads.

Supreme Court Justice Sandra Day O'Connor issued a vicious thought provoking dissent. Justice O'Connor argued that cities should not have unlimited authority to uproot families simply to accommodate wealthy developers even if they are provided compensation.

In Justice O'Connor's dissenting opinion she wrote: "Any property may now be taken for the benefit of another private party, but the fallout from this decision will not be random." The Justice also stated, "The beneficiaries are likely to be those citizens with disproportionate influence and power in the political process, including large corporations and development firms."

Wednesday, July 20, 2005

"Pick-a-Payment" Mortgages Could Leave You Homeless

With the rising cost of Las Vegas real estate mortgage companies have been working overtime developing create ways to enable you to obtain a home loan. Unfortunately, "Pick-a-Payment" or "Option ARMs" are two loan programs that can literally leave you homeless.

Although rarely advertised as "Negative Amortization Loans" that is exactly what they are.
While your monthly payment is reduced, your total debt on the home continues to rise.

This may enable you to afford more home in the short term, but can create financial havoc in the long run. Before you take out one of these type mortgages learn all of the facts and explore other options.

Tuesday, July 19, 2005

CE Real Estate Class - #3178 L&E / C

Class: The Job Isn't Finished Until the Paperwork is Complete!
3 CE Credits, #3178 L&E / C

Date: Wednesday, July 27
Time: 1:00PM - 4:00PM

To Reserve a Seat, FAX your Name, License Number, Phone Number and Class you wish to attend to: (702) 242-5689

Classes sponsored by Nancy Scobee & held at The Real Estate Academy 6655 West Sahara, Suite A-116 (1 block EAST of Rainbow on Sahara; in the Media Room)

Monday, July 18, 2005

FREE Las Vegas Real Estate Seminar

This is a FREE Las Vegas Real Estate Seminar with Larry Murphy,
President, SalesTraq.

Thursday, July 21st from 2:00 to 4:00 pm

Click here to RSVP

Topics Covered:

*Condo Conversions
*Hi & Mid Rise Condominiums
*2nd Qtr 2005 Housing Stats
*SalesTraq on DVD (Disc Version)
*SalesTraq on line (Internet version)
*SalesTraq New Home Link (for your web site)
*Floor Plan Archives

Larry Murphy
SalesTraqTM

Location: Southern Nevada School of Real Estate
3441 W Sahara (Valley View & Sahara)

Wednesday, July 06, 2005

CE Real Estate Class - #3073 L&E

Class: To Disclose or Not To Disclose, That is the Question.
3 CE Credits, #3073 L&E

Date: Monday, July 25
Time: 9:00AM - 12:00PM

To Reserve a Seat, FAX your Name, License Number, Phone Number and Class you wish to attend to: (702) 242-5689

Classes sponsored by Nancy Scobee & held at The Real Estate Academy 6655 West Sahara, Suite A-116 (1 block EAST of Rainbow on Sahara; in the Media Room)

Tuesday, July 05, 2005

CE Real Estate Class - #3086 L&E

Class: I'll Make You An Offer you Can't Refuse!
3 CE Credits, #3086 L&E

Date: Monday, July 18
Time: 9:00AM - 12:00PM

To Reserve a Seat, FAX your Name, License Number, Phone Number and Class you wish to attend to: (702) 242-5689

Classes sponsored by Nancy Scobee & held at The Real Estate Academy 6655 West Sahara, Suite A-116 (1 block EAST of Rainbow on Sahara; in the Media Room)

Monday, July 04, 2005

CE Real Estate Class - #3283000 L&E / E

Class: When No One Is Looking
3 CE Credits, #3283000 L&E / E

Date: Wednesday, July 13
Time: 1:00PM - 4:00PM

To Reserve a Seat, FAX your Name, License Number, Phone Number and Class you wish to attend to: (702) 242-5689

Classes sponsored by Nancy Scobee & held at The Real Estate Academy 6655 West Sahara, Suite A-116 (1 block EAST of Rainbow on Sahara; in the Media Room)

Friday, July 01, 2005

CE Real Estate Class - #3284000 L&E / LL

Class: Nevada Law Update 2005
3 CE Credits, #3284000 L&E / LL

Date: Monday, July 11
Time: 9:00AM - 12:00PM

To Reserve a Seat, FAX your Name, License Number, Phone Number and Class you wish to attend to: (702) 242-5689

Classes sponsored by Nancy Scobee & held at The Real Estate Academy 6655 West Sahara, Suite A-116 (1 block EAST of Rainbow on Sahara; in the Media Room)

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