If you are getting ready to buy a home using FHA or VA financing, note that the minimum credit score is increasing and you may need to move quickly. This won’t affect most LasVegasAdvisor.com readers, but many of my clients have kids getting ready to buy their first home.

Beginning October 4, the minimum mid-FICO score for these loan programs will jump from 620 to 640. If you are in this range, be sure to contact your mortgage agent and lock in your loan number by Thursday, September 20. If you need a referral to one of my preferred lenders, text me at 702.279.2466.

This has been one of the craziest 2-week periods in my entire real estate career. I closed 7 deals this week, and will close at least 4 next week. Between walkthroughs, doc signings, turning over keys and troubleshooting problems, all while helping other buyers find their own new homes, I’m surviving on caffeine and In ‘N Out cheeseburgers, protein style. Eaten in my car, of course.

New agent Jordan Camacho hit the ground running. He’s caught on very quickly, but then, he’s been around real estate for years. Jordan honed his work ethic as a chef in a Thomas Keller restaurant, so you know he has his mise en place!

Demand remains strong for Las Vegas and Henderson homes. It’s a bit easier to get your offer accepted right now, but we’re still seeing competition for the most desireable REOs.

After saying “no” to listings for several years, I’ve finally had to cave in. With so many clients asking me to short sale their home, I can’t very well continue to say no. It’s certainly not as fun as helping someone find a new home, but it’s still all about helping people solve a real estate puzzle. Short sales are here to stay.

Las Vegas Advisor readers who’ve been watching our Top10RealEstateValues.com for awhile will remember a time when I gleefully helped homebuyers snatch up foreclosures at below-market prices. Buyers who purchased homes in 2007 and 2008, when we only thought prices couldn’t go any lower, saw their home values slide another 20%, give or take a few tens of thousands. (Ouch, that’s hard to write.)

Once the carnage of 2008 began to abate in early 2009, my clients were able to buy homes that have pretty much maintained their value. Those buyers who purchased in 2009 or 2010 can probably sell their Las Vegas home for what they paid for it. If you bought before that, prices will have to climb quite a bit before you will regain your equity.

I’m thrilled to see that we are once again able to find homes for my clients at below list price. Not always, but often. Evan and Adrian sat tight while the bank waited for a better offer on their vacation home, a 4,000+ square foot home priced at $279,900. The bank, unwilling to accept their $250,000 offer, countered not once, but twice – something we rarely see in this market.

When no more offers arrived on this gorgeous home with a pool, slate flooring and kitchen fit for a chef, the bank finally accepted our $262,000 counter offer. Why? With rising foreclosure inventory, it’s not difficult to find a home with no offers on it right now. A flexible buyer who can jump quickly, and has no emotional attachment to any particular home, has a real advantage in this market.

The upcoming holiday season will be the best time to buy. After 3 summers of fighting to get a home at all, and then well over list price, Las Vegas homebuyers can look forward to home shopping without the frenzied pace. Buyers have complained for several years about the bidding wars, even when there’s been no bidding going on! But when 20 people want the same house you want, and they are all willing to pay more than the seller is asking, it can certainly feel like a bidding war.

Expect sales to remain reasonably steady for the immediate future, but you should have more choice and good deals can be found again.

Now if the banks would just approve more of these short sales. Jerome and Britney have had their dream home in escrow for months, while Bank of America sits on its ass and orders appraisal after appraisal. Their baby, born before the offer was accepted, is now 4 months old; she may be in college before BofA makes a decision.

On a happier, more sane note, LVA readers Steve and Kiota had a home in escrow for 2 months before BofA suddenly foreclosed on the homeowner. Within weeks it hit the market as a foreclosure, and we caught it on the rebound. My buyers were willing to pay $245,000 for a short sale, saving the bank tens of thousands of dollars in foreclosure costs, but in it’s infinite wisdom the bank sold it to the same couple for $235,000 after spending a small fortune to foreclose.

Go figure.

So what’s keeping me so busy? I mentioned in my last entry that business keeps pulling me in other directions. In fact, many exciting new developments have commanded my attention, making it difficult to sit in front of my computer to blog.

The Robin Camacho Team moved to Sellstate NRES in June. Not all of my Team members were invited to join me. Five-Star Service is what clients should expect from a “Top 10” agent, so it was time to cull the herd before handpicking a few more of the best. My agents are equipped with market knowledge and tools that allow them to provide the best service in the industry. Call me demanding, but my agents must provide superlative service or they’ll be very unhappy short-timers. I remain in the top 50 buyers’ agents in southern Nevada, thanks to my loyal clients. I like to think it’s an acknowledgement of my efforts on their behalf.

I admired Realty One Group, and it was hard to leave. But what’s best for my clients is best for me. Sellstate NRES owner Michael Krein, the visionary President of the National REO Brokers Association, is a successful broker on the cutting edge of the short sale stampede. Strategic defaults are rising while loan modifications are rejected daily; to keep ahead of market shifts, I surround myself with other experts. I’m a Certified Distressed Property Expert (a black belt in foreclosures and short sales), but Mike is the short sales Sensei. In my quest for enlightenment – okay, at least continual improvement – I align myself with the best.

I’m enjoying another record-breaking year. Even with the distractions of a big move, our momentum continues to build. I’m Sales Leader for my first two months at Sellstate. Big hugs to all of you who helped me get there (I’m into free hugs after Burning Man). My only goal for the next 12 months is to continually provide award-winning service to my clients. That’s it.

Sellstate NRES provides me with a bigger toolkit, allowing me to be even more responsive to my growing list of clients. Weekly advanced training for my agents, state-of-the-art technology and Mike’s keen insight enhance my ability to meet my fiduciary duties to my clients. I’ve been told by many clients that I walk on water; not true – I make it look much easier than it actually is. Helping my clients meet their real estate goals is fun; it’s also challenging. An agent who isn’t abreast of rapidly-evolving policies and trends shouldn’t be in the business. (Do you want fries with your burger?)

Many of my clients are now working with Danna Hagenburger of Academy Mortgage, one of my preferred lenders. Academy is now the #1 independent lender in the nation. Like me, Danna never gives up. She’s creative, and her troubleshooting skills parallel mine. I know, her last name is ridiculously long – but you can’t call someone that good-looking The Hag. I put up with all 4 syllables because Danna is another great resource for my clients. (I almost said tool…heh heh, did she just call Danna a tool?!) When confronted with a challenge, Danna always finds a way to make a difficult loan work – she’s that experienced.

Speaking of mortgage lending – I’m going to blog on this topic soon. Danna has promised to pitch in, as has my preferred private investor lender (read “hard money”). My investor and vacation home buyers love Homepath, a loan program for eligible, Fannie Mae-owned homes that allows for lower down payments and a larger portfolio of financed homes. Other innovative programs exist, but I love this one right now. No appraisal, and no mortgage insurance. 3% down for primary residences, and 10%-20% for non-occupant.

I’ll blog on Homepath and other mortgage topics next week. While LVA readers are for the most part high-dollar earners and rainmakers, the short sale stampede is reaching even this group. Those who’ve lost or short-sold a home in this terrible economy may find that private investor lending, while pricey, might be their ticket back to homeownership. A topic for another day.

Okay, I’m back. A loyal Las Vegas Advisor reader mentioned that several forum readers have asked where Robin went. Robin is just damned busy, and I hate to keep restarting my blog, telling my loyal readers that I’m back for good, and then having business pull me in other directions. Please forgive my long absence, and I’ll do my best to keep in touch at least every few days.

I just got back from Burning Man, so I’m feeling quite cocky. (If you’ve been there, you’ll get that.) I’m excited! The smell of the playa – still in my nostrils – wafts through my brain, business is thriving, and it’s all good. I haven’t had more than an occasional weekend off since my trip to Exuma last October; this 5-day immersion in a human carnival was just what I needed. The tent is packed up, Ron is uploading the photos, and we both feel rejuvenated.

We returned to see that foreclosure listings have risen to 2300 – an increase of just about 200 in the past week. With more REOs coming to market, and fewer buyers as the slow season arrives, you will see this number continue to climb. I expect to see house prices begin to slip, but not a great deal. Don’t panic if you recently bought – it’s most likely to be a slight dip in the 4% to 8% range over the next year. Just don’t buy a house today if you plan to flip it tomorrow. If you bought recently expecting a quick profit, you probably shouldn’t be allowed to make your own investment decisions anyway – better turn this over to your mom. She’ll tell you the obvious: don’t buy high and sell low.

Speaking of mom; I’m thrilled that my 86-year-old mom is coming to visit for 3 weeks. My 87-year-old dad can’t be torn away from his karaoke contests and bicycling, but it’ll be fun to show Mom around Vegas. I love Vegas – there’s always so much to show off when we have visitors.

Demand has remained very strong, with monthly sales well over 3000 homes. With consumer confidence blowing in the wind, it’s amazing that sales are as strong as they were early in this decade, when we all thought money really did grow on trees. After some pruning, Las Vegas home prices are such a bargain that people across the globe continue to buy here.

That reminds me – if you missed me live on Fox Business Network a few weeks ago, that was fun! I was asked to comment on whether this was a good time to buy a home in Las Vegas. Oh, hell yes. But somehow the other agent, Hazel, thought we were invited for “Realtor Smack-Down: Las Vegas vs. Miami”. It was really quite funny. I’m sure Miami is probably a good buy right now – but I know Vegas is!