Melanie Dages' Blog

I must have received a dozen or more calls within a matter of minutes after the news announced that there was a possibility the $8,000.00 tax credit could be extended past the original expiration date of December 1st, 2009. KXNT news radio announced on Thursday, September 17th, @ about 2:00 pm that a bill was set to go to the Senate to extend the $8,000.00 tax credit for an additional 6 months. Other Networks and Stations announced the same.

Since then I have had numerous phone calls and inquiries about the truth of this announcement. I have read and re- read many articles referencing the $8,000.00 tax credit. I have talked to anyone and everyone I know about this announcement. The entire Las Vegas Valley is talking about nothing else.

At this point there isn't any confirmation on the bill being passed, however; I am very optimistic and hopeful that this bill will become reality and that all of the first time homeowners that have been trying to get their offers accepted will now be able to breathe a bit easier knowing that they have been granted an extension, enabling them extra time to get their offers accepted.

In the past several months I have seen first hand how investors have put in offers for more than the listing price, who have had their offers looked at first and who have paid cash for homes that first time homebuyers so desperately wanted to buy. First time homebuyers who have strong employment histories, who have savings put aside, who have great FICO scores and who are using traditional FHA and conventional loan programs. How can we allow the investor to come in and take precedence over the first time homebuyer, how can we allow this to happen again? This is a question that I and so many other Real Estate professionals, Banking Professionals, Appraisers, and Inspectors are asking. Once again we are seeing the first time homebuyer unable to fulfill their dream of homeownership because of the unfair practices taking place in the Real Estate Market.

Wouldn't it be great if the First Time Homebuyer's offer was the first one to be considered, the first offer to be accepted? Wouldn't that be the fair and right way? In my opinion YES. However; is this reality?

When I look closely as what is happening in the Las Vegas Real Estate Market, I see a repetition of history. What I want to see and what I am hopeful for, is for the first time homebuyers, the people who are qualified, who are out their every day looking at properties diligently, putting in their offers and playing the waiting game, that these people and their offers will be taken into consideration first. My vision for Las Vegas is a vision of First Time Homebuyers getting first crack at the purchase of an REO, these are the buyers who are going to be the glue for Las Vegas. First Time Homebuyers are going to be the guarantee that our housing market stays strong. If we let the investors in again, as we already have, where does that leave us in the next few years? Where will Las Vegas be in the years to come if we don't start thinking about the people who are going to become permanent residences, who want to plant themselves, grow roots, and raise their families? This is where our mind set needs to be, as a City......We need to be thinking about the people who are going to stay, the people who are going to plant themselves and grow roots. We need to protect the future of Las Vegas. We need to make sure that the investors are not the only people purchasing the share of properties that are priced within reach of so many First Time Homebuyers. These investors won’t be planting themselves, putting down roots and raising their families. They are only here to make their profit and leave....Lets all take a better look at what we can do to push for the First Time Homebuyer.....Those of us that have established our roots in Las Vegas need to push for others that want to do the same.

My family and I have planted and established our roots in Las Vegas and we are here to stay. I hope that our voices will be heard and that other liked minded people will take an interest and push, as we are pushing, to keep Las Vegas a thriving, growing, wonderful place to live.

If you have a response to this e-mail or want to start a discussion please feel free to contact me.

Melanie Dages

Southern Fidelity Mortgage

6585 High Street

Las Vegas, NV 89113

702-921-1800

702-468-8737 Cell