Rob's Report - February 2013

RobJensen COMPANY

359 Alpine Way, Mount Charleston 3,535 sq.ft. | 5 bedrooms | 3 baths $

669,000

3338 Mission Creek Court

2,160 sq.ft. | 3 bedrooms | 2 1/2 baths $

475,000

Call us today to help you find or sell your guard-gated home.

10161 Park Run Drive, Suite 150 | Las Vegas, NV 89145 | 702.605.7480 | www.robjensen.com

Top 5 Costly Listing Mistakes To Avoid Selling your home can be a nerve-wracking experience. There are a number of mistakes during this period that can stall the sale and cost you money— but the biggest is not contracting with a knowledgeable agent with a solid track record

By Rob Jensen, Broker & President

Mistakes are not accidents. If your agent makes just one of the following common mistakes in the sale of your home or property, you could be facing a lower sales price or no sale at all.

How does this happen? Since the majority of home shopping is now done over the Internet—whether you have an agent emailing you properties or you’re looking on a real estate website—the content generally originates from the MLS (Multiple Listing Service). This means if there are mistakes in the MLS, they will be syndicated/published to all the other big sites, such as Realtor.com, Zillow, Trulia and Redfin.

tax record and therefore are not shown in the main living space in the MLS. Make sure your MLS listing reflects the additional square footage of any casita/guest house. Review the final product carefully.

Mistake 3: Wrong Bedroom & Bath Counts This is a proper accounting of all your home has to offer. There are general rules of thumb to consider.

How to Avoid It: Knowledge is a powerful tool so understand what the count entails: (a) For a room to be counted as a bedroom in the MLS, it must have a window, closet and door. If it is missing any of these, it will be referenced as a den. (b) If the room is built out like an office, but meets the bedroom criteria, call it a bedroom. The buyers can always keep it as an office if they like. (c) A full bathroom contains a bath and a shower; a ¾ bath has only a shower; and a ½ bath/powder room contains only a toilet and sink. Review the final product carefully.

Mistake 1: Bad Quality Pictures Consider it the most common complaint by buyers in this market because they will decide whether or not to even look at a property based on the images. Also, only one picture seems to be very common when the MLS can hold up to 25 per property.

How to Avoid It: Hire a professional. A professional photographer will get the lighting, angles and color right. (a) As the homeowner, make certain the home is ready for picture day. (b) iPhones are handy, but leave the photos to the professional. (c) Pictures must be properly sized when placed online. It’s not uncommon for a decent picture to look like a postage stamp, taking up only a small portion of the already small frame to show the property. (d) Make certain to discuss up front how many images will be posted. Review the final product carefully.

Mistake 2: Wrong Square Footage A common mistake especially with custom homes and homes with a casita/guest house.

How to Avoid It: (a) Make sure your property’s square footage is accurately reflected in the tax record. You also may want to put the total square footage in the Remarks section of your listing along with the price/sq. ft. based on the total sq. ft., since the MLS will calculate this number without the additional square footage, reflecting an incorrect high number. (b) Casitas are not included in the main living space in the

Mistake 4: Incomplete Property Descriptions The MLS offers various fields that are searchable by an agent. Lot Description is one and if it’s not labeled properly, it may be missed by potential buyers.

How to Avoid It: An agent can designate Golf Frontage, Lake Front, etc., i.e. it is common that golf course homes are not properly labeled as such. These additional fields are incredibly important in marketing your home, so you must diligently review the final product.

Mistake 5: Mandatory Buyer Fees Some listing agents will try to push additional fees onto buyers. A common example is found in short sales when the listing agent requires the buyer to pay a 3rd party negotiator fee. This is a HUD and RESPA violation on a HUD listing or a new FHA loan. The violation also may pertain to a new conventional loan and cash sale as the same guidelines are in force. I know as a fact, it can deter buyers who refuse to pay for a service that should be provided by the listing office that is already earning a commission to do this very job.

How to Deal with It: Even if your property is a short sale, it is still important to present the best offer possible to the bank, so be clear with your agent that a negotiator fee is not acceptable. Also, you may or may not receive money from the bank but you must stress to your agent that a full deficiency release from the bank is important. NOTE: In some short sales, the bank will give the seller money. We closed a sale in Red Rock Country Club where Bank of America gave the seller $30,000.

Robert Jensen is a seasoned real estate professional with a breadth of experience in the luxury property sector. Through Rob’s leadership, Rob Jensen Company has established itself as one of Las Vegas’ preeminent luxury real estate.

SOLD PROPERTIES | FEBRUARY 2013

Address Sq. Ft. Sold Price

Price Short Sale /Sq.Ft. /REO

Anthem Country Club

107 Grosse Pointe Place 9,660 $2,950,000 $305 17 Mountain Cove Court 9,285 $2,550,000 $275 5 Regent Park Court 3,962 $ 669,840 $169 20 Brays Island Drive 2,725 $ 520,000 $191 20 Highland Creek Drive 7,284 $1,585,000 $218 30 Brays Island Drive 3,813 $ 625,000 $164 10 Brays Island Drive 4,005 $ 680,000 $170 63 Emerald Dunes Circle 1,940 $ 330,000 $170 27 Colleton River Drive 2,569 $ 485,000 $189 43 Gladewater Drive 1,905 $ 325,000 $171 34 Candlewyck Drive 3,592 $ 682,000 $190 15 Stonemark Drive 3,848 $ 470,000 $122 36 Sankaty Circle 7,158 $1,350,000 $189 REO 15 Hassayampa Trail 4,025 $ 716,000 $178 SS 29 Golf Crest Court 4,025 $ 700,000 $174

Aventura

9921 Mirada Drive 9908 Alegria Drive

2,814 3,023

$ 470,000 $ 525,000

$167 $174

No closed sales for February 9253 Tournament Canyon Drive

Canyon Gate

8972 Echo Ridge Drive 8964 Echo Ridge Drive 8901 Diamond Falls Drive 8940 Rainbow Ridge Drive 2313 Timberline Way 8800 Rainbow Ridge Drive

Corta Bella

8812 Bonta Court

Country Club Hills 1720 Bayonne Drive 1604 Wincanton Drive 8905 Tavistock Court 1716 Bayonne Drive 1806 Glenview Drive

Eagle Hills

2000 Grouse Street

8,081

$1,445,000

$179

2,267 2,473 2,180 3,146 2,747 3,146

$ $ $ $ $ $

280,000 315,000 335,000 492,880 460,000 570,000

$124 $127 $154 $157 $167 $181

4,029

$ 575,000

$143

4,011 5,065 4,541 5,215 5,438

$ $ $ $ $

5,137

599,900 922,500 750,000 828,000 797,000

$1,020,000

$150 $182 $165 SS $159 $147 $199

Mountain Trails

9908 Glenrock Drive 2313 Cedardale Place

One Queensridge Place 9103 Alta Drive #904 9103 Alta Drive #405 9101 Alta Drive #201 9101 Alta Drive #405 9101 Alta Drive #1204 9101 Alta Drive #1007

9413 Fontainbleu Drive 9709 Royal Lamb Drive 9433 Garnet Crown 9732 Verlaine Court 9824 Queen Charlotte Drive

Red Rock Country Club 2689 Red Arrow Drive 1929 Alcova Ridge Drive 2777 Turtle Head Peak Drive 11735 Glowing Sunset Lane 2703 Red Arrow Drive 3097 Soft Horizon Way 11452 Morning Grove Drive 2807 Turtle Head Peak Drive 11303 Winter Cottage Place 2952 Soft Horizon Way 3027 Red Arrow Drive 1993 Alcova Ridge Drive 11740 Evergreen Creek Lane 11310 Winter Cottage Place

Roma Hills

781 Bolle Way 765 Dibasio Court 1274 Imperia Drive

No closed sales for February 1724 Tangiers Drive 569 Lairmont Place

600 St Croix Street 1409 Foothills Village Drive 1499 MacDonald Ranch Drive 1387 Quiet River Avenue 1516 MacDonald Ranch Drive 1484 MacDonald Ranch Drive 504 Regents Gate Drive

Seven Hills Rapallo

Legacy Estates

MacDonald Highlands

Price Short Sale /Sq.Ft. /REO

Queensridge

Bellacere

Canyon Fairways

Address Sq. Ft. Sold Price

Seven Hills Terracina 7,019 7,820

$1,900,000 $3,050,000

$271 $390

1597 Villa Rica Drive 1583 Villa Rica Drive

12,424 4,107 10,723 5,037 6,024 7,017 6,606

$2,370,000 $ 560,000 $1,625,000 $ 835,000 $1,999,999 $2,400,000 $ 970,000

$191 $136 $152 $166 $332 $342 $147

SS SS REO

7,628 6,071

$1,375,000 $1,100,000

$180 $181

3,100 3,355 4,826 3,355 3,100 2,271

$1,200,000 $1,020,000 $2,000,000 $1,150,000 $1,350,000 $ 600,000

$387 $304 $414 $242 $435 $264 SS

3,910 3,417 3,497 5,184 4,202

$ 550,000 $ 459,000 $ 535,000 $1,187,500 $ 785,000

$141 REO $134 $153 $229 $187

9,158 3,424 3,085 4,707 9,837 2,508 5,555 5,038 3,601 3,455 4,574 5,037 5,407 4,443

$2,800,000 $ 639,000 $ 700,000 $ 828,000 $3,005,000 $ 480,000 $ 880,000 $ 860,000 $ 835,000 $ 526,000 $ 900,000 $ 899,000 $1,220,000 $ 780,000

$306 $187 $227 $176 $305 $191 $158 REO $171 $232 $152 SS $197 SS $178 $226 $176

6,911 4,781

$1,150,000 $ 755,000

$166 $158 SS

5,608

$1,070,000

$191

5,730 10,049

$1,295,000 $1,425,000

$226 $142 SS

SS

continued on page 4

RobJensen COMPANY

Formerly The Jenson Group

www.robjensen.com

10161 Park Run Drive, Suite 150 Las Vegas, NV 89145

SOLD PROPERTIES | FEBRUARY 2013

Address Sq. Ft. Sold Price

Southern Highlands

3399 Birchwood Park Circle 11696 Oakland Hills Drive 11755 Alness Lane 3273 Birchwood Park Circle 3348 Saddlebrook Street 11816 Brigadoon Drive 3841 Woodsen Bend Drive 26 Augusta Canyon Way 59 Quintessa Circle 3524 Alpine Lily Drive

Spanish Hills

8846 Big Bluff Avenue 4984 Mountain Foliage Drive

Spanish Trail

50 Sawgrass Court 57 Innisbrook Avenue

The Fountains

2252 Buckingham Court 2277 Buckingham Court

continued

Price Short Sale /Sq.Ft. /REO

3,151 6,198 3,379 3,599 2,172 4,236 3,474 10,598 6,200 2,172

$ 485,000 $1,325,000 $ 795,000 $ 595,000 $ 223,000 $ 750,000 $ 405,000 $1,960,000 $2,200,000 $ 318,000

$154 $214 $235 $165 $103 $177 $117 $185 $355 $146

REO

7,245 5,410

$ 800,000 $ 985,000

$110 SS $182

Address Sq. Ft. Sold Price

Price Short Sale /Sq.Ft. /REO

The Palisades 404 N Royal Ascot Drive 405 Grand Augusta Lane 111 N Royal Ascot Drive

SS

The Ridges

SS SS

11280 Granit Ridge Drive #1063 16 Soaring Bird Court 4 Cross Ridge Street 50 Meadowhawk Lane

6,229 6,673 4,079

$ 915,000 $ 900,000 $ 750,000

$147 $135 $184

3,018 11,433 3,955 7,053

$ 380,000 $3,398,000 $ 995,000 $2,550,000

$126 SS $297 $252 $362

3,888

$ 524,000

$135 SS

5,909 3,792 3,768

$ 990,000 $ 542,750 $ 670,000

$168 $143 $178

The Vineyards 10709 Beringer Drive

Tournament Hills 4,743 10,208 3,758 4,571

$ 712,500 $2,250,000 $ 464,000 $ 485,000

$150 $220 $123 $106 SS

No closed sales for February

Willow Creek 10967 Willow Valley Court 10730 Hobbiton Avenue 2755 Barrow Downs