Archive for February 17th, 2005

North Las Vegas City Council Supports Business

Thursday, February 17th, 2005

The City Council of North Las Vegas has unanimously approved the creation of an Economic Development Department to recruit and retain high-profile businesses and promote business growth in redevelopment areas. The population of North Las Vegas is growing at a rapid rate, and city officials want to make sure that the economy in their portion of the Las Vegas valley is able to keep pace. Sharon Powers, president and chief executive of the North Las Vegas Chamber of Commerce, called the formation of the new department “a positive.” The impetus behind the new decision was the need to make economic development the responsibility of a single department within the city structure. MS Las Vegas Real Estate is very excited about the growth and development of North Las Vegas. The crown jewel of residential growth in North Las Vegas is the Aliante master-planned community. This includes Sun City Aliante, a fabulous Del Webb age-restricted golf community within Aliante. For more complete information on North Las Vegas homes, give us a call at 888-349-2595.

HUD's 2006 Budget Proposal: Reaching Out to Help

Thursday, February 17th, 2005

HUD’s 2006 budget proposes a zero downpayment mortgage option in the Federal Housing Administration (FHA) that would allow first-time buyers with a strong credit record to finance 100 percent of their home purchase including closing costs. The Budget also proposes a program called Payment Incentives, which would allow borrowers with limited or weak credit histories to purchase homes by initially paying higher mortgage insurance premiums that would gradually be reduced after a period of timely payments. In 2006, these new mortgage programs will help more than 250,000 families to buy a home of their own. The 2006 Budget also provides $200 million to fully fund the American Dream Downpayment Initiative (ADDI). This Initiative helps first-time homebuyers with the biggest obstacles to homeownership, the downpayment and closing costs. Since being signed into law, ADDI has helped more than 3,500 families to purchase their first home. MS Las Vegas Real Estate supports these HUD initiatives for 2006 and urges you to contact the U.S. Congress if you feel the same way.