LVAM Issue 19 January/February 2017

LINDA NAW

ALSO INSIDE:

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CONTENTS Created Exclusively for the Las Vegas Real Estate Agent

How To Grow Your Business Without Increasing Your Stress

Understanding Mortgage Loan Pricing Rick Piette

Amber De La Garza PUBLISHER Melodie C. Miller Publisher@LVAgentMagazine.com

COPY EDITOR Debbie Flessner Ceditor@LVAgentMagazine.com

Leadership And Politics.

It Starts With The Family JC Melvin

Makeover? Shower And Tub Repairs

Nevada Asset Protection Trusts. Do They Work?

Mike Klimek

Robert L. Bolick

The “Smoking” Hot Rental Topic

Four Steps To Breaking A Pattern Galit Rosen

Jordan Mynarcyk

GRAPHIC DESIGN Olivia Gomez CAST design team Art@LVAgentMagazine.com

PHOTOGRAPHY Connie Palen

LINDA NAW

COVER STORY

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Grow How to

YOUR BUSINESS

Without Increasing Your Stress [ 4 SIMPLE STEPS ]

By Amber De La Garza, The Productivity Specialist

T

hink back to when you first dreamed of running your own business. You likely knew you’d face obstacles getting it started and have plenty of hurdles to overcome. Did you foresee, though, the massive amount of stress you’d experience managing day to day operations years later? Are you now doing just what you absolutely have to do to get by, because the idea of growing your business seems totally overwhelming?

You are not alone. Many entrepreneurs can relate to the juggling act in which one pin after another keeps dropping, throwing them even more off balance.

They’re so exhausted from juggling all of their tasks that finishing successfully seems hopeless. Have you considered giving up your act? Well, don’t! The delicate balance of maintaining your sanity while growing your business is challenging, but attainable. Following these simple steps can help you achieve the elusive balance of advancing your business without increasing your stress:

Find Clarity It is essential to have clarity into what you want to accomplish before setting out to achieve success. Otherwise, any new shiny object/project/opportunity/app/ program will look like a great thing to spend your time and energy on. Without a solid definition of what success means to you, you would jump from one unfinished project to the next and get nowhere, which causes unneeded mental clutter and stress.

Having clarity is about big vision thinking. What are your long-term goals?

How do you want your life and business to look in X years? Your goals should be true to your desires. Write them down and be as descriptive as necessary, in order to visualize achieving each goal. Read your goals as a daily affirmation every morning to help you stay on track toward accomplishing them.

Plan

quality or family time.

A goal without a plan never leads to action. The first step in planning how you will accomplish your goals is to break larger goals up into smaller projects. Then, prioritize them in order of importance.

This strategy will help you feel less overwhelmed by all that needs to get done, so you can advance your business without feeling the need to pull your hair out.

Plan well into the future by scheduling projects for specific durations on your calendar. Some projects may be only a week long, others an entire quarter.

Planning a project timeline will enable you to visualize along the lines of a theme.

You can then weigh any task’s importance against the thematic project planned for that timeframe and your overall goals. It is worth filtering every opportunity and reprioritizing may be necessary.

Plan to accomplish your goals one project at a time instead of haphazardly wasting your time and energy on fruitless projects with little return on your investment. You have a finite amount of energy and time, so refuse to spread yourself thin over multiple projects. Slow down, plan ahead, stay focused, and move on to the next project only when your current one reaches maintenance mode status.

Eliminate (D List) Running a business is, quite simply, demanding. You cannot do everything yourself and expect to grow your business stress-free. Accumulating responsibilities without having more time will inevitably affect the quality of your business and your stress level. Something always has to give each time you add more to your plate, be it your sanity, customer service, product

Eliminate responsibilities to clear the way for new ones that arise. Otherwise, you will not be eager to take on new projects that you know will successfully grow your business.

Your natural reaction will be to avoid them because you are already overwhelmed.

Create a list of tasks you can either delete or delegate at no expense to your business.

Follow through with eliminating those unnecessary tasks from your plate or assigning them to others to complete.

Execute If you spend all your time micromanaging your employees, working on administrative tasks, attending meetings, etc., you will never achieve the business growth you desire. You absolutely have to spend time executing priority projects! Whether you need only an hour a day or four hours three times a week, schedule time on your calendar to work on them. Respect those commitments to yourself just as you would an important client. There will always be something else going on or someone else requesting your time. Hold those scheduled blocks of time sacred, so you can implement change and catapult your business forward.

Long-term success never comes easy.

Finding clarity about your goals, planning how to achieve them, eliminating unnecessary tasks and executing your plan for success are great strategies that work, but not on their own. The keys are commitment and consistency. Consistently execute high-priority projects that are imperative to your success and you will undoubtedly reduce your stress, while growing your business. Supercharge your productivity with my top time maximizers at www.TimeMaximizers.com

Amber De La Garza, The Productivity Specialist, works with business owners and entrepreneurs who are ready to transform the way they work so they can reduce stress, maximize time, and grow their business. Amber provides her clients with precisely what they need – the best in productivity training and consulting to meet their maximum potential and accomplish their goals.

702-527-2307 | Amber@TheProductivitySpcialist.com

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LEADERSHIP AND POLITICS IT STARTS WITH THE FAMILY

By JC Melvin

I

t’s amazing to see and hear all the fallout from the 2016 presidential elections.

This article is about leadership and NOT who you voted for or what candidate will or would have made the best president. The decision about who will be the next president has already been determined by a vote of the people and the Electoral College, based on a system of government our forefathers established. We are known as a “representative democracy” or a “democratic republic,” both meaning virtually the same thing. Interestingly, the word “democracy” is not used anywhere in the U.S. Constitution. While our constitution clearly establishes us as a “republic,”the word democracy is used to describe our form of government by people from all over the world. In fact, the United States of America is the oldest recognized democracy in the modern world.

Before we go any further, let’s all agree, whether we’re happy about the election results or not, the United States of America is the most free nation, offering liberty and the pursuit of happiness, on the planet. Think about it, unlike many other countries in the world, there is no need for a revolution and massive bloodshed each time we pick a new president and cabinet.

We have a system that has effectively worked in excess of a couple hundred years. This country and its systems are clearly still attracting immigrants from across the globe because of freedom and our form of government. Here we continue to have this thing called the American dream and it is still VERY much alive. All that being said, it is such a great system of government, that if we don’t like it, we can change it with enough votes.

Now let’s move forward with the leadership conversation around all this.

I was taught that we all voted, received the results and then supported the person who got elected. It’s really quite a simple

concept and we each have the obligation to teach our children and grandchildren how all this works. It’s a lot like sports, only the winner gets the 1st place trophy and we teach the losers how to congratulate the winners and gracefully accept defeat.

I learned the idiosyncrasies of sports and elections while in high school. This is the time when sports became more serious and when running for class president required a bit more thought.

Leadership, in regard to elections, is about teaching those in our group, whether our family or our business associates and employees, that these events happen every two to four years on a local and national level. It’s the people who convince most of those voters casting ballots that they are the best candidate, who will generally win the election. And, that our system is such that once the election is over, we all agree to support and help the winning team.

We also get the opportunity to help those who are disappointed about the outcome learn from the experience and try harder next time around. For those who become really, really passionate about the politics, they have the opportunity to volunteer for their team and/or even run for office if they are so inclined.

Good leadership skills will assist each of the opposing candidates in preparing their groups of supporters and strategizing the best way for their team or candidate to prevail as the winner in the election.

If their team or candidate does not win, it simply means that the other side did a more effective job in convincing the voters to vote for the winning side. In some cases,

the losing side may have had the needed number of votes, but were unable to motivate their people to actually go cast a vote at the ballot box. For now, we cannot point and click to vote from our home PC or Macbook. Until those changes take place, we’ll still have to get our teams out to the ballot box on election day.

From a leadership perspective, I believe that it’s unrealistic for individuals to be in total mourning over this or any other election. I work with hundreds of real estate agents each and every day and their lives and livelihoods are still up to them each and every day, week and month. If an individual allows themselves to wallow in negativity because of the actions of another or the outcome of a sports event or an election, they have, in my opinion, allowed an outside force to take responsibility for and control of their life.

Remember, only you can determine how you spend your emotional capital.

Regardless of what anyone does to you or what happens around you, how you decide to feel emotionally is entirely up to you.

We should be teaching this mindset to our children, because it will give them power and confidence to take on the world, and it will assist in creating great leaders.

Now for those of us in leadership and positions of authority, let’s act like adults and leaders, whether our candidate won or lost.

Let’s get on the American team and teach our people to live the American dream!

JC Melvin is the founding dean of the NVAR and the GLVAR Leadership Programs. JC is an international speaker and Certified Trainer for “The ONE Thing” Workshop. He is the Corporate Broker for KW Realty Southwest in Las Vegas. For more info on “The ONE Thing” or to schedule a program, add him on Facebook or jc@jcmelvin.com | 702.595.5024.

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COVER FEATURE

LINDA

NAW

“I’m a great believer in luck, and I find the harder I work the more I have of it” Thomas Jefferson

Some people may look at Linda Naw and think how lucky she is. She’s a successful Realtor, 2017 President of Las Vegas WCR (Women’s Council of Realtors), Co-Host of a radio talk show, Founder and President of a non-profit organization, and a former successful, nationally qualified NPC Bikini competitor. Last, but definitely not least, Linda is happily married. Surely, this is a charmed woman, born under a lucky star.

Those who know Linda Naw best, however, know the notion of it all falling into her lap is far from reality. Linda is a first generation-born American in her family, which fled the horrors of the Khmer Rouge takeover during the Cambodian Civil War. Prior to being forced to leave their homeland, Linda’s family enjoyed a comfortable life, but her grandfather served in the military, which put them square in the crosshairs of the Communist interlopers.

Just before the war began, Linda’s grandfather, a high-ranking soldier, was urged by an insider to gather his family and get out of Cambodia, but he decided he couldn’t leave his people, whom he had vowed to serve. On the very first day of the war, the Khmer Rouge took him up on top of a mountain and killed him.

The family had to leave the country and change their last name to stay alive. “Naw” was Linda’s grandfather’s first name.

“I didn’t know this until I was a sophomore in college,” she said.

“It was then that my last name took on more meaning to me”.

She was the first of four more siblings to come, all born in the United States. Their parents made sure the children had a full appreciation of their fortunate circumstances.

“My father became Americanized very quickly,” Linda said.

“He looked at America as a land of opportunity, and he wanted all of us to seize that opportunity.”

Linda’s father started working as a dishwasher at the Sheraton hotel and within a few short years, he was in a director’s position.

He had no degree, and at the time, hardly spoke English.

Linda said that the odds were against him to be able to survive, flourish and prosper.

“I really looked up to my dad,” she said. “He was not only respected in his industry but also by his employees. They called me “Lil Naw,” a nickname I loved because of my adoration for my father. I wanted to be just like him.”

Photography by: Connie Palen Iyanna Flores, 15 CFC Courageous Kid 2015

Becky Munguia, 18 CFC Courageous Kid 2016

Linda’s mother worked from home as a seamstress, so around the age of 8, Linda learned to sew as well. She says she wanted to help her family earn an income.

“I was, honestly, my parents’ golden child,” she said. “I always wanted to help out and do anything that made my parents proud”.

As her father moved up through the ranks of hospitality work, the family moved around the country, eventually landing in Garland, Texas, where her father and mother decided to end their marriage. It was a difficult time for Linda, who was a high school freshman. Because of the necessity of her parents maintaining a two-household family, money was scarce, and young Linda took an after-school job at the factory where her mother worked. At 14 years old, she would go to school, come home to eat and go straight to the “sweat shop.”

“I wanted to give my family a better life. I wanted them to be able to count on me” she said. “That is what turned me on to real estate, I knew that the sky was the limit. Going to real estate school was the best thing I ever did for myself.”

“I had a lot of humbling moments when I was a kid, but I never felt sorry for me,” she said. “I felt bad for my brothers and sisters, because I wanted them to have more. I would never say that I had a bad childhood, I was raised by amazing role models, but I definitely didn’t have an easy childhood—it made me who I am today.”

Certainly, Linda was not afraid of working hard.

She threw herself into her new career, even though it was tough at the beginning.

Linda was used to having a Linda with grandmother steady income, and working in a straight commission job required quite a bit of patience and determination. But she knew that once she made that decision to commit, all the time she was putting in would pay off.

Linda & brother, Larry Naw. 2 days before they competed in 2014

“Being my own boss is exactly where I needed to be, I am in control of my own destiny” she said. “I love to help people, and I love even more to see them acquire one of the biggest accomplishment in their life, which is buying their home. It is much more to me than just buying or selling a home for them. I dare not take any client nor my business for granted, and I give my all with each and every client I take on.”

Soon, life would present another opportunity, and another set of circumstances from which to choose. One day, while training for her bikini competition, Linda met her future husband, Derek Perdue.

The Perdues, Derek & Linda

Indeed, those early experiences with working hard to get what she wanted set the groundwork for the way Linda’s life would develop. Her mother was raising five children, primarily on her own, making $5.15 an hour and somehow managing to put food on the table, clothes on their backs and a roof over their heads.

Linda says that as a child, she would always daydream about being just a kid.

Even at her young age, she felt she had to behave as an adult would, because she was taking care of an entire family.

“Growing up quickly wasn’t an option, it was a must,” she said. “Things weren’t about me at this time, they were about survival and happiness for my siblings. After graduating high school, I worked three jobs, so I could make things better for my whole family.”

Thinking a career as a lawyer was in the cards for her, Linda also began studying criminal law at UNLV, but before long, she realized she was destined for another path. At the age of 21, she bought her first house. During the buying process, her agent at the time had put a bug in her head about acquiring her real estate license. He told her that she should seriously consider a career where she could control the outcome of her future.

At that point in Linda’s life, being in business for herself was something that she had never even considered, and she was actually terrified at the prospect of a commission-only job.

“I wasn’t interested,” she said. “I lived a strict lifestyle, and my schedule was eating, training, working and eating again on repeat.

I didn’t want to be with someone who was like me and judging from the way he looked, he was much worse than me. He was everything I never knew I wanted.”

Derek is a business owner and top trainer in Las Vegas, with his own personal training company which employs three other trainers.

He was also a former national-level competitor in the National Physique Committee (amateur bodybuilding) division.

A fitness competitor herself, Linda ended up hiring Derek for her competition. “There was a lot of hesitation on my part to hire him, but his persistence won me over,” she said. “In fact, I told him that if I didn’t win the show with him, I would be hiring another coach.”

Linda kept their relationship purely professional but the chemistry was undeniable. “I totally stereotyped him,” she said. “But I got to know him, and found out that there was much more to him.”

By November, 2014, they had begun dating. On Linda’s 32nd birthday that year, Derek presented Linda with a 13-page written scribble, which she said was the most romantic thing she had ever read. In the letter, he described his wife, from her physical appearance and her character to the type of relationship and family they would have together. “Derek believes in putting things out to the universe,” Linda said. “He would always tell me that this was why he was brought to Vegas--to find me”.

On November 8, the following year, Derek proposed, and on December 8, 2015, the couple was married. The number 8 has special meaning for Derek, representing an infinity symbol, and carrying over into the name of his company. Not only are the two partners in marriage, they also work well in business. Linda uses her creativity to help with advertising and set-up for Derek’s company and Derek fully supports Linda’s passions, like the nonprofit foundation she had started in 2013 in honor of her longtime best friend’s niece.

The Jillian Moore Foundation, now known as The Combat for a Cure Foundation, was founded by Linda and inspired by Jillian, a 3-year-old girl battling Neuroblastoma, a rare childhood cancer.

When Jillian was first diagnosed in July, 2013, her aunt Ashley, Linda’s friend, was crushed, and after meeting the little girl, so Linda & Jillian at the 2014 Combat for a Cure Gala

was Linda. What started out as raising money for the family to help with medical bills turned into a mission and a passion for attacking childhood cancer. “I love my best friend, so anything that affects her, affects me,” Linda said. “I fell in love with Jillian the first day I visited her in the hospital. I can’t explain the connection but I connected with her little soul. She has no idea what an impact she has made on my life.”

Linda says that as she was leaving the hospital that day, she was talking to herself, determined that there must be some way to find a cure for Jillian’s illness. For two weeks after that, she experienced quite a bit of anxiety, trying to figure out how she could help. Eventually, she got in touch with Susan Heard, director of partnership at the St. Baldrick’s Foundation, a national organization which is the country’s largest private funder of childhood cancer research grants. Linda negotiated a future partnership for where the funds would go. “I didn’t want to reinvent the wheel when creating the nonprofit,” she said. “I wanted us to focus solely on research and awareness, but a partnership was a must, as I needed somewhere I could trust to send the funds and to make sure the money went to where it needed to go. St Baldrick’s made this happen for me.” In October of 2016, the Combat for a Cure Foundation officially became a partner of St Baldrick’s.

Each year, Linda hosts an Annual Gala, where she honors local children who have been stricken with cancer with Courageous Kids awards. The Gala also helps increase awareness of Neuroblastoma and raises thousands of dollars for research into its cure. Though it has been a successful event, it hasn’t always been easy. “The Gala was tough,” she said. “For two years, I lost money doing it but I kept going, and now we have great momentum”.

In October of 2016, Linda created “Combat for a Cure Magazine,” which featured her 2016/2015 Courageous Kids award winners.

The magazine is set to be released to the public in the Spring, with St. Baldrick’s as a contributing writer. “The goal of the magazine is to raise awareness, as well as allow the families to tell their stories,” she said. “It also allows me to feature my cancer kids.

Making them feel special and seeing their happiness is one of my “whys” for the foundation, and they make the stress all worth it.”

In the midst of her busy week, Linda also manages to co-host a radio show on Newstalk 720AM, KDWN, with her co-worker Tim Kelly Kiernan. The REMAX Report airs on Wednesday mornings at 9 a.m. In addition, she is the 2017 President of Women’s Council of Realtors, and has been recognized and honored with awards such as Re/Max Platinum agent, Top 40 under 40 and Las Vegas Top 25 Women in Real Estate.

Though her professional and philanthropic life takes up a lot of time and energy, Linda maintains that she is still an old-fashioned girl at heart. “Growing up, I remember my mom waking up every morning at 5 a.m. with my dad to get him ready for work,” she said. “She pressed his clothes, got us ready for school, picked us up, made dinner at the same time and worked all day in the garage, sewing. My mom was the ultimate wife. I know times have changed, but I’ll always be that traditional girl.”

Long term, Linda stressed that her ultimate goals are to be the best she can be at whatever challenges and opportunities life brings her way, the same way her family has always lived. For her, that’s a lucky life. “Running two businesses, keeps me busy,” she said. “But my dad and my mom are huge role models for me, because of where they came from and who they became from it. I know how fortunate I am, and I love being in business for myself.”

Linda Naw is a REALTOR(R) at REMAX Excellence, 4435 South Buffalo Drive in Las Vegas. To reach her, call (702) 306-3587. For more information about The Combat for a Cure Foundation, visit the website at www.combatforacure.org.

NEVADA ASSET PROTECTION TRUSTS DO THEY REALLY WORK?

By Robert L. Bolick, Esq.

I

t took hard work to get where you are, so how do you protect what’s yours?

Nevada is well known for having some of the best and strongest asset protection laws in the country. Perhaps the strongest weapon in our arsenal is our asset protection trust. The following are FAQ’s regarding Nevada Asset Protection Trusts (NAPTs):

The trust is not recorded or filed. No one even knows that your trust exists. All assets and transactions are strictly confidential.

You can distribute assets to yourself at any time. If your trust is properly created and funded, no creditor can attach any assets held in trust or any distributions from your trust.

Won’t my living trust When do the asset provide asset protection? protection features No, living trusts don’t offer any asset become effective? protection. As a revocable trust, your creditors can access any your assets held in your living trust.

Can I really achieve asset protection?

Absolutely. Nevada has the strongest asset protection trust in the nation. Forbes Magazine gives Nevada trusts the only A+ rating in the country.

Is it legal?

Yes. All you have to do is comply with the statutory requirements. The key is to get your asset protection trust in place well before a liability or claim arises.

How does the trust work?

You can be the trustee of your trust and maintain control over all trust assets throughout your life. You can buy, sell, trade or reinvest assets at any time without the knowledge or consent of anyone else.

Asset protection begins after the assets have been held in your trust for two years.

After two years, no creditor can penetrate or attach any assets in your trust. Similarly, you cannot be forced to distribute any assets.

What assets can I hold in my trust?

Your trust can hold your home, any other real estate, investments, cash, securities and any other asset whether located in Nevada or elsewhere. Most people hold their rental properties or businesses in an LLC which in turn is held in their trust to protect their other assets held in trust from any claims or liabilities arising from their rental or business.

What if I move out of Nevada?

You do not have to be a Nevada resident to have a Nevada Asset Protection Trust.

The only requirement is that at least one of your trustees be a Nevada resident. This person can be a friend or relative residing in Nevada, a Nevada bank or trust company, your attorney, accountant or other advisor.

You still retain your position as the principal trustee with complete control over your assets held in your trust.

Why doesn’t everybody create an asset protection trust?

With all of the uncertainties of life, bizarre outcomes of lawsuits and exorbitant jury awards, you can never be too safe. You can realize huge dividends by arranging your affairs now to protect yourself from the unforeseen. Nevada law affords you this excellent protection. Why not take advantage of it?

Is a NAPT expensive?

No. Not having a NAPT can be. Creating a NAPT is a one-time expense. There are no annual administration costs or maintenance fees.

Robert L. Bolick is an estate planning and asset protection attorney in the firm’s Las Vegas office. Mr. Bolick previously was owner and president of Bolick & Boyer in Las Vegas. He maintains an “AV” rating with Martindale-Hubbell, which is the highest rating awarded to attorneys for professional competence and ethics.

702-870-6060 | rbolick@djplaw.com

By Galit Rosen

D

o you ever feel like you are stuck in a never ending loop of continuing to choose the same patterns over and over again? You find yourself repeatedly making the same choices and not getting the result you want? This feeling of being stuck can wear you out and take over your life. You feel like you are getting nowhere and not moving forward at all. So what can someone choose to do differently?

Choosing to do even the smallest thing differently at times will take so much more work than just continuing in the same pattern you already do. The question is, do you choose to stay where you are or work towards changing the pattern?

IF YOU CHOOSE CHANGE, TRY THESE

4

STEPS TO BREAKING A PATTERN:

1. Awareness.

You must first be aware of the pattern before you can break it. For some, this awareness will be clear--you will almost feel like you are living that scene from the movie “Groundhog Day,” where the main character wakes up every day and starts the same day over and over again, until he chooses a different pattern and it sticks. If you feel that way, you are now aware that you are stuck in a pattern and you must become aware of what that pattern is.

Do you keep waking up unhappy? Do you continue to choose relationships where someone treats you badly?

Do you keep taking jobs where you are underappreciated? These are all patterns, and awareness is the first step to breaking them.

2. Desire.

If you have the desire to change the pattern, then you have the ability to do it.

But you must first have that desire, which will point you in the right direction to change the pattern and break you from the chains of being stuck. Desire can, at times, be a feeling of fear of change, or even just a passing thought that you have, that tells you enough is enough. The desire does not have to be great, it can start with just a small desire and grow as you get closer to breaking the pattern.

3. A Plan.

Once you are aware and have a desire to change your pattern, you must have a plan to introduce change into your life, into the situation, into what you are trying to break. If you are trying to break a pattern of choosing the wrong types of relationships, you must have a plan for the type of relationship you deserve. If you are trying to change the pattern of working at jobs where you are underappreciated, then have a plan to find a job where you will be appreciated. What does that relationship look like to you? What does that job look like to you? You must be as clear and as detailed as possible in this plan. Do not expect this pattern to be broken overnight.

It will take time, but making a plan will be a start to breaking the pattern in your life and making a change.

4. Repetition.

When I was little and I told my mother I wanted to be the best dancer I coule possibly be, she told me that I must practice. I asked how much must I practice and my mother said, “Every single day.”

This is the same method you use with breaking a pattern. It doesn’t matter if this pattern has been in place for one year of your life or 30 years. You must practice your new pattern and work your plan every single day. Yes, life gets in the way and sometimes time does not permit. So, some days it will be five minutes, others it will be an hour or a half a day, but you have to work on your plan. If you are trying to break the pattern of never saying no, then you must practice every single day to say no. If you continue to choose a pattern of bad relationships, you must say no to those relationships every day. Now at times it may seem impossible and at times you will fail, but you need to realize this is part of the change. You may fail once one day and not at all the next day, so recognize that failure is part of the process, and focus on how far you have come and not how far you have to go.

Changing a pattern is possible and thinking of it as forming a new habit will help you put in the work to accomplish this change. Also, if you get frustrated or discouraged from the process, concentrate on the end result you are trying to accomplish. Focus on the prize, which is your accomplishment of changing a pattern you no longer want to allow to be a part of your life. It is possible and you can do it.

Galit Rosen is an expert in self-improvement for women and women in business.

A recipient of the Excellence in Volunteerism Award by Beauty In/Beauty Out Awards in 2014, a two-time finalist in the Women of Distinction Award by NAWBO and a named Unsung Hero by Las Vegas Sun, Galit generously volunteers her time as a Board Member of the Women’s Philanthropic Council, The Shade Tree and Beauty In Beauty Out. galitempoweringu.com | Facebook: Galit Empowering U

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ALL LENDERS ARE NOT CREATED EQUAL!

Have you started the New Year with an open mind?

It’s the beginning of another New Year. A year that looks to bring a renewed economic vitality to our great town.

We have construction activity in all parts of our valley, job growth is on the rise, new casinos are on the drawing boards, we now have a professional sports team and the chance of a professional football team. For Las Vegas, things are certainly changing!

Have you reviewed your business plan and asked yourself if a few changes would help you better achieve your goals?

I think that every Realtor, as with every business, (yes, you are a business) should evaluate their “business partners” at least every year. Think about your Escrow Officer – are they giving you the best service possible at the lowest cost to your clients? Your Home Inspectors – are they providing you with complete and realistic evaluations of your homes? And how about your Mortgage Lender?

Does your Loan Officer always answer their phone? Do they have the knowledge and experience to assist you in getting all your possible buyers qualified while being honest with you when your prospects ‘just don’t qualify?’

And do they offer your buyers true ‘No Fee’ financing – without an increase to the interest rate?

If you answered ‘yes’ to all of the questions regarding your Mortgage Lending partner, then keep your business with them – they are a great Team Member.

But if these questions leave you asking yourself if you can improve...then consider a change to Premier!

Premier Mortgage Lending is a locally owned and managed Mortgage Broker. We have one of the most experienced and professional staffs in Nevada. As a Mortgage Broker we have access to a wide variety of loan programs and pricing choices. We don’t just have one Underwriter and one price sheet. We offer true ‘No Fee’ mortgage loans on all of our traditional loan products...we charge ZERO in lender fees to your buyers. We originated ‘2nd Chance Financing’ in Nevada and have put hundreds of Southern Nevadans back into homeownership. We are also one of the largest ‘Private Money’ lenders in the state. If you have buyers that just don’t qualify for a traditional loan, but they have at least a 25% down payment – then we can help you get your deal closed.

We are looking to add some additional new Realtors who are motivated to succeed and want to work with the best.

If you are considering a change of Lending Partners, give me a confidential call at 702-496-2595. I will introduce you to one of our outstanding professional Loan Officers.

You’ll be happy you made that call!

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Recipient GLVAR ‘Affiliate of the Year’ (2013) Better Business Bureau A+ Rating Member ‘Southern Nevada Homebuilders Association’ Member of: Las Vegas Chamber of Commerce Henderson Chamber of Commerce Boulder City Chamber of Commerce Nevada’s #1 Mortgage Broker ‘No Fee’ Mortgage loans on all Tradional Loan Products (KnowBeforeYouOweNevada.com) Nevada’s #1 Private Money Lender (AnotherChanceNevada.com) One of Nevada’s Most Experienced & Professional Staffs

...we hope we’ve answered the question!

702-485-6600 | PremierMortgageLending.com

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UNDERSTANDING

MORTGAGE LOAN PRICING

A LITTLE KNOWLEDGE OF HOW RATES ARE DETERMINED CAN HELP YOU HOLD YOUR DEALS TOGETHER!

By Rick Piette

Who sets mortgage rates?

Why do rates change?

How often do rates change?

Why don’t all lenders have the same rates and fees?

M

any factors affect mortgage rates.

Economic activity impacts the movement of mortgage rates but for the most part, actual mortgage rates are largely determined by the “secondary market” – or Mortgage-Backed Securities. MBS are pools or groups of mortgages packaged into securities for sale to investors in the secondary mortgage market.

captive mortgage audience.

For simplicity’s sake let’s define the secondary market as being controlled by the primary government entities – FNMA, FHLMC, FHA and VA. These entities set a guaranteed price to buy or insure a certain type of mortgage. These “base rates” change daily, or more often during times of volatility, based upon the markets.

The second source of income is from what I call “undisclosed income.” This undisclosed income is called Service Release Premium – or SRP.

Generally, all mortgage lenders have access to the same base rates. But after they receive the daily base rate for the particular type of mortgage they are pricing, lenders must then establish their “daily rates.” Individual lenders’ daily rates will vary, depending on their costto-produce and their business model. Are they pricing aggressively (low SRP) to drive high volume? Or they may price above market (high SRP), if they have a

Base Rate = set by the secondary market (including Risk Adjustments)

There are two ways for lenders to make money on a loan.

The first is from the “disclosed income” – those fees that are charged or earned when a loan funds and which are fully transparent to you and your buyer. These fully disclosed charges are now capped by Federal Law at a maximum of 3.00%.

The combination of all of these factors determine what your buyers will actually pay to get their loan. Here is what that would look like:

+ Service Release Premium = Undisclosed Income which varies by lender + Collected Fees = Disclosed Income which is capped at a 3% maximum Interest Rate & Fees - that your buyer will pay to get their loan.

For the most part, that explains who sets rates and why rates vary between lenders.

But there is another factor which affects the interest rate that a particular buyer may pay. I call this the “risk adjustment.” When you obtain a loan, you aren’t the only one taking a risk--the lender is also taking a risk on you. In general, the higher the risk, the higher the cost of borrowing money.

The secondary market has priced these risk factors into their base rates. They do this by issuing a “pricing adjustment” rate sheet schedule. Included in their base rate are additions or subtractions to the loan pricing. In other words, factors such as FICO score, down payment, and loan amount will determine your final interest rate.

I believe it is a Realtor’s job to try to get their buyers the best deal possible for their mortgage loan. And having a little knowledge of how rates are set may help you explain to a buyer how their particular rate was established.

“A n i n v e s t m e n t i n knowledge always pays the best interest.”

Benjamin Franklin

I hope I’ve helped you to understand how to get your buyers the best interest rate for their situation.

Rick, a long time native of Southern Nevada and of the mortgage industry, currently owns and is Broker of Premier Mortgage Lending, with offices in Henderson, NV. In his career in the mortgage business, he has held the positions of Loan Officer, Manager, Vice-President, Sr. Vice-President… and now, is an Owner/Broker. The full-service lender is a member of the Las Vegas and Boulder City Chamber of Commerce, Better Business Bureau, the Southern Nevada Homebuilders Assn., and was recently honored as the “2013 Affiliate of the Year” by the Greater Las Vegas Assn. of Realtors.

He enjoys many outdoor activities including mountain climbing, skiing, backpacking, Harley rides, and river running.

702-485-6600 | visit www.PremierMortgageLending.com | Premier Mortgage Lending, NMLS #393282.

MAKEOVER?

SHOWER AND TUB REPAIRS

By Mike Klimek

S

howers and tubs can get awfully gross and need repairs. When that happens, it is the surround that usually needs a makeover.

Tub surrounds are made from a variety of materials, including plastic, cultured marble, Corian and many more. The least expensive, plastic, starts at less than $100.

The kits come in five pieces--there are three panels that attach to the three walls surrounding the tub, and two corner pieces.

To address this problem, you will first need to remove the hardware from the front wall., and then take off the tub spout and the handles. The tub spout will either unscrew or will have a setscrew underneath it that holds it to the pipe.

Each handle will have a small plastic cover that hides a screw. Remove the screw and pull off the handle. The showerhead and arm are sometimes above the surround, so you may not have to remove them.

Next, you must remove the old surround. If it’s in really bad shape, it will likely easily come off of the wall. If there are problems removing it, you may damage the underlying wall.

Often when removing old ceramic tile to install a tub surround, parts of the wall come off with the tile.

If you damage the wall, you must repair it. You may even look at the wall and decide that it needs to be replaced anyway.

In any case, you can repair any damage in the wall with cement board or waterresistant greenboard.

If the walls are in good shape, you need to cut and apply the sheets to the walls. The back and side walls are easy, but you will need to cut some holes in the front wall.

You can measure the locations on the wall

and transfer them to the surround sheet, but this is risky, because your measurements have to be very accurate. It is much safer to make a template and then transfer the exact location of the holes to the sheet.

You can use a piece of cardboard or paneling to make a template. If you use cardboard, push it into the protruding tub spout pipe and handle stems and it will make indentations to mark where you are to cut.

Use your template to transfer the marks.

The size of the hole depends on the size of the valve and, most importantly, the size of the decorative plate that will cover it.

Once the holes are cut, follow the manufacturer’s instructions regarding the order in which the panels are to be installed.

Do a dry run and hang the panels on the wall with tape. Then use a pencil and make lines on the walls to mark the locations of the panels. Take the panels down and get the adhesive ready.

For the inexpensive surround, you will use panel adhesive and run thick beads on the wall and the panel. Next, push the panels in place. You can use tape to hold everything in place until the adhesive sets up.

How to

You can then cut the hole for the tub spout pipe with a 1 1/4-inch hole saw. This saw chucks into a drill and cuts as the drill spins.

It also works well for two- or three-handle shower valves.

If you have a single handle that controls both the hot and cold water, you will need a larger hole. Drill a pilot hole and then use a jigsaw with a fine-toothed blade to cut the hole.

The corners where the panels meet do not have to be perfect, because they will be covered with the corner pieces.

You can use the adhesive for the corner pieces, too. After everything is in place, use silicone caulking to seal the perimeter of the surround, as well as both edges of the corner pieces. Finally, seal the tub spout and the escutcheon plates to make them water-tight.

Depending on the size of the old surround and the size of the new one, you may have some drywall work to do. If the new surround doesn’t cover as much area of the wall as the old one, you will need to texture and paint small areas, which is a separate project of its own.

Maybe you can worry about doing that job next weekend.

Mike Klimek is a licensed contractor and owner of Las Vegas Handyman. He has written hundreds of articles regarding home repair and remodeling and has been published in Southern Nevada Home & Garden Magazine, Finishing Touches Magazine, Zip Code Magazines, and Real Estate Success Magazine. He has written for the Las Vegas ReviewJournal & Sun since November 2000. Watch for Mike’s regular column here and in the Las Vegas RJ.” (702) 896-0000 | questions@pro-handyman.com

The “SMOKING” Hot

Rental Topic

By Jordan Mynarcyk

T

he topic that landlords are talking about this new year is a new law in Nevada that has recently passed this past November, and takes effect

January 1, 2017

the end of the marijuana prohibition.

The new year will bring the regulation of production and sale of cannabis, as well as the taxation on cannabis, just like the sales of any other tangible product. This is raising many eyebrows in the world of property management and also questions about how we should treat the future of marijuana and our tenants.

Over half of the United States, 28 states plus the District of Columbia to be exact, have passed laws in favor of the legal use of marijuana dating all the way back to 1996.

A recent poll has stated that

60 percent of Americans favor general legalization.

Some states also allow the cultivation of marijuana plants for “individual consumption.” The trouble here in Nevada is that marijuana remains a Schedule 1 substance under federal law and is still barred from being prescribed.

When Colorado was the first state to allow legalized marijuana, it increased their tourism numbers by 1million people per year. How will this affect the rental market and economy in our valley? We are very soon to find out. The Department of Taxation is quickly creating the licensing requirements for recreational marijuana.

Once recreational sales hit Colorado, leads to apartments increased by 19.20%, compared to the national increase of 9.41%, according to apartmentguide.com. We are looking forward to see what this brings for the Las Vegas valley market.

There are a few things to consider when moving forward in this new year regarding this smoking hot topic:

Cultivation of plants In Nevada, the current statue NRS 453A allows 12 mature plants to be grown IF there is no dispensary within 25 miles of where the user lives at the time. The growing of these plants requires specific living conditions, including temperature control, water and humidity, which could ultimately affect the utilities bills. This may be an area to address in the lease.

Smoking Many standard leases come with a no-smoking clause because the strong odor and film is tough to remove. Most leases also contain strict “no illegal drug activity” at the dwelling. But does your lease specify which type of smoking is or is not allowed?

Covering all bases by including specifics of no-smoking tobacco or marijuana inside the dwelling could be advised.

Security Responsibilities In light of recent events, some banks have opened their doors to catering to marijuanabased businesses. However, with cannabis remaining a Federal Schedule 1 drug, they are not federally regulated, i.e. FDIC Insurance. Because it is a high risk to banks, this can be an extremely unaffordable luxury, which leaves many dispensaries as cash-only businesses. This should be addressed in two areas: How rental payments will be accepted and ensuring the leases clearly state the landlord and tenant responsibilities regarding the security of the building.

Medical Use From single-family, multi-family to commercial, many property owners are firm on their opinions of smoking on or in the premises. So where does that leave us for the cardholders of medical marijuana? In California, it is considered a fair housing violation under state law to refuse someone for the medical use of marijuana. In December of 2014 HUD stated, “The use of marijuana (even for medical purposes) is prohibited in federally assisted properties.” For Section 8 tenants, it is clear that there is zero federal tolerance, but will your homeowners be compliant with maintaining a completely smoke-free dwelling with no exceptions? The fact that it is still prohibited under federal law means that you are now required to permit marijuana. It’s the owner’s choice! “Because it is still against federal law the owners reserve the right to evict on federal terms if need be” – Robert Schumacher, Managing Partner of Gordon & Reese Scully Mansukhani law firm.

As Vice President of Tradewind Investments, Jordan has been licensed in the state of Nevada since 2010, and has been a permitted property manager since 2010. She began her college career in Las Vegas, majoring in accounting. When she felt that something was missing from her education, she chose to study abroad in Buenos Aires, Argentina, attending the Universidad de Belgrano. Upon returning from Argentina, her desire to be in the real estate market in Las Vegas was ignited.

NATIONAL ASSOCIATION HISPANIC REAL ESTATE PROFESSIONALS NEWSLE T TER

Greetings from your NAHREP Las Vegas President, It’s a New Year and I am excited to be your 2017 President!

After many years of being involved with NAHREP Las Vegas it is a sincere honor to have been elected.

I have been a participant, a member, on a committee and held just about every position on the board.

This experience has helped me grow abundantly both professionally and personally and I have built some lifelong friendships from this experience. As we say here at NAHREP we become familia!

The past six years on the board have given me the opportunity to give back to my real estate community from a position of service and to try to be part of a solution. I want to continue this through my presidency. Education is the key to so many things and sharing our knowledge will keep our industry on the right path.

So I invite you to get involved. For those of us who donate time to an organization like ours, we know the dedication it takes to volunteer for a greater mission. Join our mission and I promise your evolution will be boundless.

We hope to see you at future events!

All the Best,

Fritzi Ortiz

2017 NAHREP Las Vegas President

NAHREP National Policy & Hispanic Lending Conference March 27-29, 2017 www.nahrep.org/dc2017 Location: Four Seasons Hotel Washington

SOUTHERN NEVADA HOME BUILDERS ASSOCIATION

LOOKING FOR EVENT SPONSORS Forming Teams Now, Don’t Miss Out!

NEWSLE T TER

WOMEN’S COUNCIL OF REALTORS LAS VEGAS

NEWSLE T TER

ANOTHER

The Productivity Workshop with

SUCCESSFUL

SOLD OUT EVENT!

Amber De La Garza

Held on January 4th, 2017 at Cili’s in Bali Hai Golf Course

WOMEN’S COUNCIL OF REALTORS LAS VEGAS

NEWSLE T TER

ASIAN REAL ESTATE ASSOCIATION OF AMERICA LAS VEGAS

NEWSLE T TER

A note from AREAA president

2016 was a landmark year for the AREAA Las Vegas Chapter. In addition to great educational events and amazing mixers, we grew our local membership by 400%!

I am proud to announce the 2017 AREAA board. We are looking forward to an even better year for 2017. Thank you once again for giving us a chance to show that we are truly like NO OTHER! To become a member, please go to www.areaa.org/lasvegas.

Steve Lee

Sincerely,

AREAA LV PRESIDENT 2016 & 2017

THE 2017 AREAA BOARD MEMBERS

Shane Nguyen VICE PRESIDENT

Ulyanna Chung SECRETARY

Zar Zanganeh MEMBERSHIP CHAIR

Jillian Bachelor EVENTS CHAIR

Christina Cova-Simmons EVENTS CO-CHAIR

Shanta Patton EVENTS COMMITTEE

Chantel Tilly EVENTS COMMITTEE

Rita Vaswani POLITICAL AFFAIRS CHAIR

Tamica Evans SOCIAL MEDIA CO-CHAIR

Randy Char ADVISOR

OFFICERS NOT PICTURED: Annie Yan-Case TREASURER

Valerie Grijalva SOCIAL MEDIA CO-CHAIR

Sherwin Escanuela ADVISOR

Kelly Wells COMMUNITY OUTREACH

FOR INFORMATION & TO JOIN, PLEASE VISIT WWW.AREAA.ORG/LASVEGAS

HOUSING NEWS GLVAR Breaks Ground on New Headquarters Building

NEWSLE T TER

Southwest Las Vegas

LAS VEGAS – The Greater Las Vegas Association of REALTORS® (GLVAR) broke ground Wednesday on its new headquarters building near Rainbow Boulevard and the 215 Beltway in the southwest part of Las Vegas.

GLVAR hosted a Dec. 14 groundbreaking event on the site for local dignitaries, REALTORS® and association staff members featuring remarks from Clark County Commission Chairman Steve Sisolak, 2016 GLVAR President Scott Beaudry, 2016 President-elect David J. Tina and project manager Mike Shohet, of Jones Lang LaSalle.

“On behalf of Clark County and all my constituents in this part of town, I’m looking forward to welcoming GLVAR to the neighborhood,” said Sisolak, whose commission district includes GLVAR’s new location. “This beautiful and conveniently located building will be a great addition to this rapidly developing area.

I think GLVAR’s new home will be as good for this area as it will be for GLVAR and its nearly 13,000 members.”

Beaudry said GLVAR is building the state-of-the-art new facility to better serve its growing membership.

“Besides being more conveniently located for most of our members, this new building will enable us to better serve local REALTORS® in a variety of ways,” Beaudry said. “We’ve been in our current building for more than 30 years. Basically we’ve outgrown the space and needed a new facility that has new and

improved educational areas with state-of-the art technology.”

GLVAR plans to move into the new building by late 2017, he added. It will be moving from its current 27,000-square-foot building at 1750 E. Sahara Avenue – which is now being listed for sale at $3.8 million.

Tina said the new building represents “a major investment” for GLVAR that will serve the association well for years to come.

GLVAR’s new headquarters on South Rainbow Boulevard, just south of Post Road and north of Sunset Road, will have nearly 40,000 square feet of space. It will feature classrooms large enough to seat 300 members. The two-story facility on 4.25 acres will be an energy-efficient, concrete tilt-up building with about 380 parking spaces.

Tina said GLVAR will offer space in the building to other organizations to use for meetings, classes and events, potentially generating additional revenue for the association.

For construction updates and more information, visit www.lasvegasrealtor.com/future-home-of-glvar/ CONTACTS George McCabe, B&P (702) 967-2222 or 325-7358 gmccabe@bpadlv.com

Doug Bradford, GLVAR (702) 784-5038 dbradford@glvar.org

LOCAL HOUSING STATISTICS NEWSLE T TER Greater Las Vegas Association of REALTORS® December 2016 Statistics

Single Family Residential Units AVAILABILITY AT END OF PERIOD # of available units listed Median list price of available units Average list price of available units

*AVAILABILITY AT END OF PERIOD # of available units listed w/o offers Median list price of available units w/o offers Average list price of available units w/o offers

$ $

Change from Change from Nov 16 Dec 15 10,224 -13.4% -13.6% 269,900 +0.3% +12.5% 395,176 +2.3% +9.9%

$ $

Change from Change from Dec 16 Nov 16 Dec 15 5,951 -12.3% -17.6% 310,000 +1.1% +14.8% $ 486,238 +2.7% +14.7% $

Dec 16

Dec 16

Dec 16

NEW LISTINGS THIS PERIOD # of new listings Median price of new listings Average price of new listings

2,184 252,950 321,162

$ $

1,802 117,950 142,074

Change from Change from Nov 16 Dec 15 -23.2% -4.8% +1.2% +7.6% $ +3.8% +6.3% $

Change from Change from Nov 16 Dec 15 2,715 +4.6% +1.3% 235,000 -2.1% +8.3% $ 273,093 -1.6% +6.4% $

Dec 16

UNITS SOLD THIS PERIOD # of units sold Median price of units sold Average price of units sold

$ $

TIME ON MARKET FOR UNITS SOLD THIS PERIOD 0-30 days 31-60 days 61-90 days 91-120 days 121+ days

Dec 16 51.5% 20.2% 11.6% 7.1% 9.7%

TOTAL HOME SALES DOLLAR VALUE FOR UNITS SOLD THIS PERIOD

Dec 16 54.1% 20.2% 10.4% 6.5% 8.7%

Dec 15

Dec 16 910 122,900 152,547 Dec 16 553 115,000 131,466 Dec 16 687 113,000 120,683

Change from Change from Nov 16 Dec 15 -15.0% -41.8% +0.0% -7.9% +2.0% -41.8% Change from Change from Nov 16 Dec 15 -12.2% -56.5% +2.0% -9.6% -0.8% -46.4% Change from Change from Nov 16 Dec 15 -7.5% -6.3% -4.1% -11.5% -1.6% -43.2% Change from Change from Nov 16 Dec 15 +18.9% +12.4% -5.0% -4.2% -9.4% -25.7%

Dec 16

44.9% 19.7% 15.1% 7.3% 13.0%

Nov 16

56.8% 19.5% 10.0% 4.7% 9.0%

Change from Change from Nov 16 Dec 15 741,447,805 +2.9% +7.8% $ Dec 16

$

Source: Greater Las Vegas Association of REALTORS®

Condo/Townhouse Units

Dec 16 82,909,249

Dec 16

60.4% 19.4% 8.5% 2.6% 9.2%

43.7% 17.8% 11.6% 6.5% 20.3%

Change from Change from Nov 16 Dec 15 +7.7% -16.5%

*This category reflects the existing market availability of listings without pending or contingent offers.

For media inquiries, please call George McCabe, with B&P Public Relations, at (702) 325-7358 DISCLAIMER: This data is based on information from the Greater Las Vegas Association of REALTORS® (GLVAR) Multiple Listing Service (MLS). This information is deemed reliable but is not guaranteed. MLS collects, compiles and distributes information about homes listed for sale by its subscribers who are real estate agents. MLS subscription is available to all real estate agents licensed in Nevada, but is not available to the general public.

Not all licensed agents subscribe to the MLS. MLS does not include all new homes available or listings from non-MLS agents, nor does it include properties for sale by owner.

The territorial jurisdiction of the GLVAR as a member of the National Association of REALTORS® includes Clark, Nye, Lincoln and White Pine Counties, Nevada, and such other areas as from time to time may be allocated to the GLVAR by the Board of Directors of the National Association of REALTORS®.

Source: Greater Las Vegas Association of REALTORS® For media inquiries, please call George McCabe, with B&P Public Relations, at (702) 325-7358.

DISCLAIMER: This data is based on information from the Greater Las Vegas Association of REALTORS® (GLVAR) Multiple Listing Service (MLS). This information isGreater deemed reliable Las Vegas Association of REALTORS® Statistics Greater compiles Las Vegas Association of REALTORS® Statistics but is not guaranteed. MLS collects, and distributes information about homes listed for sale by its subscribers who are real estate agents. MLS subscription is available to all real estate agents licensed in Nevada, but is not available to the general public. Not all licensed agents subscribe to the MLS. MLS does not include all new homes available or listings from non-MLS agents, nor does it include properties for sale by owner. The territorial jurisdiction of the GLVAR as a member of the National Association of REALTORS® includes Clark, Units Sold in Period Nye, Lincoln and White Pine Counties, Nevada, and suchOr other areas as from time to time may be allocated to the GLVAR by the Board of Directors of the National Association of Availability Without Pending Contingent Offers REALTORS®.

Availability Without Pending Or Contingent Offers [ End Of Period ] Thousands

End Of Period

14 12

Single Family Residential Units

10 8 6 4 2 0

Condo/ Townhouse Units

Units Sold in Period

4000 3500 3000 2500 2000 1500 1000 500 0

Source: Greater Las Vegas Association of REALTORS®

Source: Greater Las Vegas Association of REALTORS® For media inquires, please call George McCabe, B&P Public Relations, at (702) 325-7358.

26

For media inquires, please call George McCabe, B&P Public Relations, at (702) 325-7358.

This data is based on information from the Greater Las Vegas Association of REALTORS® (GLVAR) Multiple Listing GLVAR was founded in 1947 and provides itsDISCLAIMER: more than 11,000 local with training Service (MLS). This information is deemed reliable but is not members guaranteed. MLS collects, compiles education, and distributes information about homes listed for sale by its subscribers who are real estate agents. MLS subscription is available to all real estate agents licensed in Nevada, but is not available tothe the general public. Not all licensed agents subscribe to the MLS. MLS does not include all new homes and political representation. The local representative of National Association of REALTORS®, GLVAR available or listings from non-MLS agents, nor does it include properties for sale by owner. The territorial jurisdiction of the GLVAR as a member of the National Association of REALTORS® includes Clark, Nye, White Pine and Lincoln Counties, Nevada, and such other is the largest professional organization in Southern Nevada.

Each GLVAR receives the highest areas as from time to time may be allocated to the GLVAR by the Boardmember of Directors of the National Association of REALTORS®. level of professional training and must abide by a strict code of ethics. For more information, visit www.

HomeLasVegas.com or www.lasvegasrealtor.com.

DISCLAIMER: This data is based on information from the Greater Las Vegas Association of REALTORS® (GLVAR) Multiple Listing Service (MLS). This information is deemed reliable but is not guaranteed. MLS collects, compiles and distributes information about homes listed for sale by its subscribers who are real estate agents. MLS subscription is available to all real estate agents licensed in Nevada, but is not available to the general public. Not all licensed agents subscribe to the MLS. MLS does not include all new homes available or listings from non-MLS agents, nor does it include properties for sale by owner. The territorial jurisdiction of the GLVAR as a member of the National Association of REALTORS® includes Clark, Nye, White Pine and Lincoln Counties, Nevada, and such other areas as from time to time may be allocated to the GLVAR by the Board of Directors of the National Association of REALTORS®.

THE GLVAR

Condo/ Townhouse Units

Month

Month

ABOUT

Single Family Residential Units

LAS VEGAS AGENT MAGAZINE | January/February 2017

HOUSING NEWS

GLVAR Housing Statistics for December 2016 The Greater Las Vegas Association of REALTORS® (GLVAR) reported Friday that more existing homes were sold in Southern Nevada in 2016 than in 2015, even with a tight housing supply and rising home prices.

GLVAR’s housing statistics for the month of December showed some seasonal forces at work, with local home prices down slightly from the previous month, as typically occurs this time of year. Still, GLVAR reported the median price of existing single-family homes sold during December through its Multiple Listing Service (MLS) was $235,000. That was up 8.3 percent from December 2015.

Meanwhile, the median price of local condos and townhomes sold in December was $113,000, down 4.2 percent from the same month one year ago.

GLVAR President David J. Tina, a longtime local REALTOR® who became GLVAR president on Jan. 1, said he was “pleasantly surprised” to see home sales increasing in December by 4.6 percent compared to the previous month and by 1.3 percent compared to the previous year. Condo and townhome sales were even stronger, increasing by 18.9 percent from the previous month and by 12.4 percent from the previous year. He cited a combination of factors driving local home sales, including an improving local economy and a population that is growing by about 2 percent per year. “Even with the tight housing supply we had in 2016 and even with home prices appreciating at a healthy rate, I think people are still seeing the opportunity here,” Tina said. “Our population is increasing again because the economy is improving and people want to move here for all the reasons that have always made Southern Nevada an attractive place to live, from our warm weather to our relatively low taxes and entertainment offerings and more. Plus, our home prices are still a bargain compared to cities in places like Northern and Southern California.” The total number of existing local homes, condos and townhomes sold in December was 3,402, up from 3,290 in December 2015. According to GLVAR, a total of 41,720 such properties were sold in 2016. That was more than the 38,577 properties sold during 2015. It was also more than in 2014, but fewer than during each of the previous five years.

Tina said the local housing inventory continued to shrink,

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with just over a two-month supply of homes available for sale when a six-month supply is considered to be a balanced market.

By the end of December, GLVAR reported 5,951 single-family homes listed for sale without anysort of offer. That’s down 17.6 percent from one year ago. For condos and townhomes, the 910 properties listed without offers in December represented a 56.5 percent decrease from one year ago.

In the past few years, GLVAR has been reporting fewer distressed sales and more traditional home sales, where lenders are not controlling the transaction. That continued in December, when 4.8 percent of all local sales were short sales – which occur when lenders allow borrowers to sell a home for less than what they owe on the mortgage. That’s down from 6.8 percent of all sales one year ago. Another 6.2 percent of all December sales were bank-owned, down from 6.9 percent one year ago.

GLVAR said 28.7 percent of all local properties sold in December were purchased with cash, up from 28.4 percent one year ago. That’s well short of the February 2013 peak of 59.5 percent, indicating that cash buyers and investors are still more active in Southern Nevada than in most markets, but that their influence has been leveling off.

These GLVAR statistics include activity through the end of December 2016. GLVAR distributes such statistics each month based on data collected through its MLS, which does not necessarily account for newly constructed homes sold by local builders or homes for sale by owners. Other highlights include: • The monthly value of local real estate transactions tracked through the MLS during December was more than $741 million for homes and nearly $83 million for condos, high-rise condos and townhomes. Compared to one year ago, total sales volumes in December were up 7.8 percent for homes, but down 16.5 percent for condos and townhomes.

• Homes and condos continued to sell faster as 2016 came to a close. In December, 71.7 percent of all existing local homes and 76.3 percent of all existing local condos and townhomes sold within 60 days. That compares to one year ago, when 64.6 percent of all existing local homes and 61.5 percent of all existing local condos and townhomes sold within 60 days.

January/February 2017 | LAS VEGAS AGENT MAGAZINE

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28 LAS LASVEGAS VEGASAGENT AGENTMAGAZINE MAGAZINE| |November/December January/February 2017 36 2016