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Old 11-05-2008, 10:10 PM
 
Location: Las Vegas
248 posts, read 1,013,954 times
Reputation: 125

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Which one would Vegas fall under. It seems in an enhanced declining market a MI company will allow 95% LTV. However in a Standard Declining market, they only allow 90% LTV.


edit: I actually found a site that you can look it up by zip code.

http://www.rmic.com/productsandservi...etMonitor.aspx

Last edited by ndb3; 11-05-2008 at 10:16 PM.. Reason: answered my own question
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Old 11-05-2008, 10:37 PM
 
Location: central, between Pepe's Tacos and Roberto's
2,086 posts, read 6,098,953 times
Reputation: 952
The MI companies all have different policies when it comes to distressed/declining markets. However Vegas definitely falls into the standard declining/level 2 market whereby max loan to values are cut by 5%. I have looked at all of them and there are no exceptions.
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Old 11-05-2008, 11:27 PM
 
Location: Las Vegas
248 posts, read 1,013,954 times
Reputation: 125
Any insider news on when that is going to change??
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Old 11-05-2008, 11:33 PM
 
Location: Laguna Niguel, CA
768 posts, read 3,959,121 times
Reputation: 456
Probably not at least another year or so. When you hear that prices are starting to stabilize is when there will be rumors that Vegas will be taken off the declining market list. One of the main indicator's that MI companies & lenders use to determine if a home is in a declining market or not is the Case Shiller Index, which measures home values throughout the US. That would be a good index to monitor so you can start to get a feel when Vegas might be removed from various declining market lists.
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