THE BUZZ - Greater Las Vegas Association of Realtors

Transcription

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SOUTHERN NEVADA REALTOR® FEBRUARY 2013 www.LasVegasRealtor.com
SOUTHERN NEVADA REALTOR®
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PR ESID ENT’S MESSAGE
CEO EX CH A NG E
R PA C MA JO R IN VESTORS
MLX CH A N G E TR A INING SCHE DUL E
JA N U A R Y IN D U CTEE S
CO NTINU IN G ED U CATION SCHEDUL E
SING LE FA MILY HOME REPORT
CO ND O / TO WN H OME RE PORT
A N N U A L MLS STA TISTICS
R ENTA L LEA SED REPORT
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FEBR U A R Y EVEN T CAL E NDAR
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THE BUZZ
Real Estate Topics Worth Talking About
GLVAR Listings on TV, Median prices
increase, High-Performance Home
Symposium and more…
COMMUNICATIONS
Housing Market Update Prices
Increased 24% in 2012, ranking as third
best sales year ever.
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RRG TIP OF THE MONTH
Beware of Copyright Infingement
Big fines for amending the Residential
Purchase Agreement.
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PROFESSIONAL STANDARDS
The 1913 Code of Ethics REALTOR®
Code of Ethics turns 100. Read the code
adopted in 1913.
HOW TO MAKE MONEY
GOING GREEN
News Updates High Performance Home
Symposium coming in March and more.
LEGAL
The Bankruptcy Effect: What happens
to the listing? More and more
bankruptcy filings are impacting real
estate listings and transactions.
MLX c h a n g e
Have You Noticed? MLXWireless now
includes Realist®.
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MLS
Updating MLS Listing Data REALTORS®
have the responsibility and obligation to
ensure listing information is current.
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MLS TIP OF THE MONTH
Update the Estimated Close Date
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MARKETLINX MOMENTS
MLS Data Co-Op
YPN LAS VEGAS
Young Las Vegas REALTORS® Join
the Fight YPN’s Million Dollar Pledge
program to help fund the Political
Survival Fund.
WANT LUNCH OR DINNER ON US?
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As you read the SNR, watch for your license
number. If you find your license number hidden
within an article, call the Association and let
Krista Baker-Pantuso, Membership Director 702.
784.5026 know. You will then receive a gift
certificate for lunch or dinner at a local restaurant.
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PRESIDENT’S MESSAGE
[ BY DAVID TINA ]
GLVAR TRYING TO GET
FANNIE MAE TO STOP STALLING
SHORT SALES
In the past few months, I’ve been hearing from
Members who say Fannie Mae is stalling short
sales all over town by rejecting seemingly fair
offers, requiring thousands of dollars over the
home’s appraised value.
Basically, this government-sponsored enterprise
that backs millions of mortgages across the
country seems to be holding back home sales
for some reason, rejecting offers from would-be
buyers who need a loan to buy the house at or
near the appraised value.
I’m hearing reports about Fannie Mae
responding to offers to buy a home at or near
its appraised value by asking upwards of
$40,000 more for the home than an appraiser
said it’s worth. And this is not just a local issue.
I’m hearing complaints from homeowners and
agents across the country.
In Arizona, where short sales make up a big
percentage of all local home sales like they
do here in Nevada, the Attorney General’s
office has reportedly been receiving numerous
complaints.
This situation may be inflating home prices. It
also seems to be discouraging traditional and
first-time home buyers – the very people I
thought Fannie Mae and similar governmentbacked entity Freddie Mac are supposed to be
helping. For homeowners, this issue makes it
harder for them to purchase a property as part
of a short sale.
With short sales now accounting for nearly half
of all our local home sales, this is obviously
a concern to all of us. If not addressed, this
practice has the potential to hurt our local
economy and housing market.
I don’t have an immediate solution to this
problem, but I want to assure you that GLVAR’s
staff and Board are working on this issue. We
have been contacting Fannie Mae officials, NAR
staff and our state and federal government
leaders and urging them to convince Fannie
Mae to get back to accepting reasonable offers.
Some have suggested that this practice
may favor cash buyers and companies and
investment groups that are buying homes in
bulk to rent them or eventually sell them at a
profit as local home prices continue to increase.
I’m not sure why Fannie Mae is doing this, but
I think that we need to do whatever we can to
try to remedy this situation before it gets worse.
I’ll keep you posted on our progress.
As always, please contact me with any
comments or questions you may have. n
President David Tina can be reached by emailing
[email protected]
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CEO EXCHANGE
[ BY NELSON B. JANES ]
CODE OF ETHICS CENTENNIAL
Diversity, Destination, Determination – three
features of GLVAR and Las Vegas that President
Dave Tina is emphasizing and promoting in 2013.
Dedication focuses on the Centennial of the Code
of Ethics and Members’ adherence to its principles.
The original Code published in 1913 can be found
on page 18. Interesting to note that only
male pronouns were used such
as “Brother agent” at the time.
It was not until 1989 - when
52 percent of Members were
women – that gender-neutral
phrasing was introduced.
Duties to other Brokers. Today, the Code has a
third section: Duties to the Public.
And in 1912, a Philadelphia Member suggested
that the Golden Rule form the foundation of the
Code. Language reflecting the Rule can be found
throughout the Codes aspirational Preamble.
NAR’s
Professional
Standards
Committee was established in
1948 and has been reviewing
and revising Articles of the Code
and Standards of Practice at
national meetings ever since.
Today, the Code is admired
for its progressive attitude
toward equal opportunity
and fair housing, surpassing
even the federal laws
prohibiting discrimination
against protected classes. These strides, too,
were made over time.
A four-year cycle of ethics
training
was
instituted
in the 1990s, with the
current cycle ending on
December 31, 2012. Local
Associations are required to
monitor the progress of each of their Members
in satisfying this duty.
In 1925, NAR (then known as the National
Association of Real Estate Boards) mandated
adoption of the Code by all Boards. Until then, local
Boards could write and adopt their own Codes.
Clearly, standardizing the Code on a national level
made it more consistent and manageable.
As REALTORS®, you can be proud that your
profession was one of the first to develop a Code
of Ethics. It has helped you forge your own destiny
by becoming the underpinning of most state’s
real estate rules and regulations. The Professional
Standards process also gives you an in-house
dispute resolution system that is much less
expensive and time consuming than litigation. n
The Code has been modified over the years to
reflect changes in laws and practices. In 1910 it
had two sections - one included articles dealing
with Duties to Clients while the other outlined
Chief Executive Officer Nelson B. Janes can be reached by
calling 702.784.5000 or by emailing [email protected]
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BOARD OF DIRECTORS
PRESIDENT
David Tina
[email protected]
PRESIDENT-ELECT
Heidi W. Kasama, ABR
[email protected]
Tina Africk, ABR, SFR
[email protected]
Mary Greenspan, RRG, CRS, GRI
[email protected]
VICE PRESIDENT
Noah Herrera
[email protected]
Christopher Bishop
[email protected]
Keith Lynam,GRI
homesinsouthernnevad@
windermere.com
Krystal Sherry
[email protected]
TREASURER
Robin Yates, GRI, SFR
[email protected]
MLS CHAIRMAN
David Brownell
[email protected]
CALV PRESIDENT
Tedd Rosenstein, CCIM
[email protected]
Cheryl Smith, CRB, CRS, RRG
[email protected]
IMMEDIATE PAST PRESIDENT
Kolleen L. Kelley, RRG,SFR
[email protected]
Janet Carpenter, SFR
[email protected]
CHIEF EXECUTIVE OFFICER
Nelson B. Janes
[email protected]
Vandana Chima RRG, SFR, RSPS
[email protected]
Leroy “Buck”Schaeffel, ABR, CRS Neil Schwartz, CRS, GRI, SFR, RRG
[email protected]
[email protected]
Jaime Velez
[email protected]
ED I T OR I AL S T AF F
WEBSITES AND HOTLINES
N A T I O NAL ASSOCIATION OF RE A LTORS
N EVA DA RE AL E STATE D IVISI ON
www.red.state.nv.us
LEG A L H O TL INE S UE S AUND ERS
(NVAR in Reno) 800.748.6999
E di t o r N EL S O N B. JAN E S
Articles appearing in Southern Nevada REALTOR ® do not necessarily carry
endorsements of The Greater Las Vegas Association of REALTORS ® (GLVAR), its
Board of Directors or its Members unless indicated as approved by the GLVAR.
Southern Nevada REALTOR ® is edited and produced exclusively by GLVAR.
C o mmun i c ations D irector
T IF F A N Y J AM E S 7 0 2 .7 8 4 .5 0 3 8
®
www.realtor.org (to access realtor.com and over
2 million New & Resale Homes)
N EVA DA A SSOCIATION OF R EA LTORS ®
www.nvar.org | [email protected]
The Greater Las Vegas Association of REALTORS ®
1750 E. Sahara Avenue Las Vegas, NV 89104
702.784.5000 | Fax: 702.784.5060 | www.lasvegasrealtor.com
Art Director
K IP T A YL OR 7 0 2 .7 8 4 .5 0 0 6
G r aph i c D e signer
A L EK S A N DAR BLAGO JE V I C
GLVAR makes no endorsement, promise or warranty of any kind with respect to advertisers and the products or services provided by advertisers in
the Southern Nevada REALTOR ®. GLVAR shall not be liable for any claims, damages, expense and/or losses of any kind arising from the use of any
advertiser’s product or service. Publisher reserves the right to reject or discontinue any advertisement at its sole discretion.
FOR INFORMATION ABOUT SNR’s “INTERACTIVE” ADVERTISING
contact Tiffany James at 702.784.5038 or [email protected].
[ 11 ]
BUZZ
COMMUNICATIONS
THE
REAL ESTATE
TOPICS
WORTH
TALKING
ABOUT
[ BY TIFFANY JAMES, COMMUNICATIONS DIRECTOR ]
GLVAR LISTINGS ON TV
When REALTOR.com® launched the
REALTOR.com® Channel they selected
GLVAR as its first beta market. Cox
Cable subscribers who have access to
the Cox On-Demand feature are able
to view listings through the Free Zone
option. Visit page 14 for more info.
COL L E G E D ORM S
F OR L E T Private real
estate companies are
being asked to take
over the management
of on-campus
housing.
http://bit.ly/10FjUCE
M E D IAN P RICES
IN CRE AS ED GLVAR’s
area-wide housing statistics
report median home
prices increased by 24%
from December 2011 to
December 2012.
http://bit.ly/11PsrTO
G S E S RE JE CTIN G OF F E R S
GLVAR leadership- in response to reports
that Fannie Mae is rejecting short-sale
offers at near appraised values by
raising asking prices by upwards of
$40,000- is working with Fannie Mae
officials, NAR and federal government
leaders to convince Fannie Mae to get
back to accepting reasonable offers.
A ME R I C A N TA X PAY E R
RE LI E F A C T O F 2 0 1 2
EX T E N D E D Congress helped
short-sellers and homeowners
receiving loan modifications by
extending tax relief for one more
year that forgives mortgage
debt in such transactions.
http://bit.ly/ThQWGO
C OD E OF ET H I C S
T U RNS 1 00
N E W QUAL IF IE D M OR TGAGE
RUL E NAR achieved a significant
2013 marks the100th
Anniversary of the
NAR Code of Ethics.
Take a step back in
history and visit page
18 to read the first
draft.
victory in obtaining a safe harbor in
the QM rule for loans underwritten
to the automated standards of the
GSEs, FHA, VA and RHS.
http://bit.ly/We81zX
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H I GH-P ERF O R M A N C E H O ME
SYM P OS I U M GLVAR’s Green
Committee partnered with the
Green Alliance to present an
all-day event featuring the latest in
high-performance home trends.
Visit page 30 for more information.
Beware of Copyright
Infringement
TA G YOUR PH O T O S
Leverage the use of tags with
appropriate keywords on all
your images to help drive up
your SEO. Sites like Flickr and
Wordpress have made it easy
to tag images.
FISCAL CLIFF DEAL DELAYS IRS
Last-minute fiscal cliff negotiations
in Congress put the pressure on
the IRS to create new forms and
modify old ones. You may be
ready to file your taxes, but the IRS
isn’t ready for you.
http://bit.ly/V5azNt
The Residential Purchase Agreement
used in Zipforms® (and sold in the
GLVAR Real Store) is copyrighted
work from GLVAR. No section of the
GLVAR RPA may be independently
amended, re-written, or otherwise
modified by any agent or Broker.
This includes digitally completing a
blank in the form and removing the
underline. If parties wish to amend
the RPA, the new terms should
be stated in an addendum or in
paragraph 25 (additional terms).
All agents should be aware that in
the past some agents or brokers
have modified the GLVAR RPA and
changed the terms it contains. It
would be a mistake to assume that
the contract has not been modified.
Read the entire contract (especially
the key terms) every time.
Copyright infringement is punishable
under Federal law by a statutory fine
of up to $30,000. If the copyright
holder can show the infringement
was done willfully, the fine is up to
$150,000. n
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COMMUNICATIONS
HOUSING MARKET UPDATE
Prices Increased 24% in 2012,
Ranking as Third Best Sales Year Ever
[ BY TIFFANY JAMES, COMMUNICATIONS DIRECTOR ]
Local home prices increased again in December,
finishing 2012 with prices 24 percent higher than
they were at the beginning of the year, according
to statistics pulled from the Multiple Listing Service.
“Rising home prices were the big story of the
year,” said 2013 GLVAR President Dave Tina, a longtime
local REALTOR®. “It was also a good year for local home
sales, ranking as our third best sales year ever. And we
could have sold more existing homes in 2012 if we had
more homes on the market. We ended the year with about
a five-week supply of available inventory.”
GLVAR’s statistics through December 2012 show a dramatic
transition from foreclosures to short sales – which occur
when a lender agrees to sell a home for less than what
the borrower owes on the mortgage. The percentage of
existing homes sold as part of a short sale set a new record
in December, accounting for 45.8 percent of all sales.
Foreclosures, which made up more than half of all sales a
few years ago, accounted for only 9.5 percent of all sales in
December 2012.
Tina expects the steady stream of short sales to continue in
2013, since Congress voted in early January to extend the
Mortgage Forgiveness Debt Relief Act by one year to Dec.
31, 2013. After that date, any amount of money a bank
writes off in agreeing to sell a home as part of a short sale
will become taxable when sellers file their income taxes.
With prices increasing and inventory low, local REALTORS®
are reporting a rise in the number of homes sold by
“traditional” sellers – as opposed to lenders, who are
responsible for the short sales and foreclosures that have
dominated the local housing market in recent years.
The total number of local homes, condominiums and
townhomes sold in December was 3,624. That’s up from
3,293 in November, but down from 4,250 total sales in
December 2011. Compared to November, single-family
home sales during December increased by 10.4 percent,
while sales of condos and townhomes increased by 8.5
percent. Compared to one year ago, home sales were
down 14.3 percent, while condo and townhome sales were
down 16.5 percent.
As for prices, the median price of single-family homes sold
in December was $149,000, up 2.1 percent from $146,000
in November and up 24.2 percent from one year ago.
Local home prices haven’t posted this kind of appreciation
since at least 2004. Meanwhile, the median price of local
condominiums and townhomes sold in December was
$76,000, up 2.7 percent from $74,000 in November and
up 29.8 percent from one year ago. Median price is the
middle price where half of the numbers are higher and half
are lower than that amount.
The total number of homes listed for sale on the declined in
December, with a total of 14,601 single-family homes listed
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for sale at the end of the month. That’s down 6.6 percent from 15,637
homes listed for sale at the end of November and down 24.1 percent
from one year ago. A total of 3,477 condos and townhomes listed for
sale on the MLS at the end of December was down 5.1 percent from
3,662 condos and townhomes listed at the end of November and down
14.4 percent from one year ago.
As for the number of available homes listed for sale without any sort
of pending or contingent offer by the end of December, the MLS stats
reported 3,688 single-family homes listed without any sort of offer. That’s
down 4.2 percent from 3,849 such homes listed in November and down
58.2 percent from one year ago. For condos and townhomes, the 1,251
properties listed without offers in December represented a 2.7 percent
increase from 1,218 such properties in November, but a decrease of
31.7 percent from one year ago.
In December, 55.2 percent of all existing homes sold in Southern Nevada
were purchased with cash. That’s up from 52.7 percent in November.
Meanwhile, 45.8 percent of all existing local homes sold during
December were short sales. That’s up from 41.2 percent in November
and up from 26.6 percent one year ago. It surpassed the previous peak
of 44.8 percent set in September 2012. Bank-owned homes accounted
for 9.5 percent of all existing home sales in December, down from 10.7
percent in November.
The median price of bank-owned single-family homes sold in December
was $140,000, up from $139,001 in November. The median price
of single-family homes sold as part of a short sale in December was
$139,800, up from $130,000 in November.
These statistics pulled from the MLS include activity through the end of
December 2012. 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 for sale by owners.
Other highlights include:
•
The monthly value of local real estate transactions tracked
through the MLS during December increased by 10.6 percent
for single family homes to more than $541 million. For condos
and townhomes, the total value of all sales in December was
nearly $69 million, up 7.2 percent from November. Compared
to one year ago, total sales volumes in December were up
6.2 percent for single family homes and up 8.1 percent for
condos and townhomes.
• In December, 68.9 percent of all homes and 71.8 percent
of all condos and townhomes sold within 60 days. That
compares to November, when 69.9 percent of all homes and
73.6 percent of all condos and townhomes sold within 60 days. n
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PROFESSIONAL STANDARDS SPOTLIGHT
THE 1913 CODE OF ETHICS
[ SUBMITTED BY JACQUIE KETCHERSID, PROFESSIONAL STANDARDS MANAGER ]
You may have been a REALTOR® for one year
or several years. You may have only practiced
in this location or held a license in several cities.
There is one business practice that has governed
all REALTORS® from the first day they take their
oath in any part of the country for over 100 years
– A Code of Ethics. Have you ever wondered what the first
code of ethics looked like? Here is a copy adopted in 1913.
(Pearl Janet Davies - “Ten Decades” 1913 through 1919
Chap. IV., Part 1. Page 34.) Text of NAREB’s Code in Earliest
Form (1913) The rules in full as presented at Winnipeg and
unanimously adopted, are as follows:
The Duty of Real Estate Men Toward their Clients
1. The real estate agent should be absolutely honest,
truthful, faithful and efficient. He should ever bear in mind
that he is an employee that his client is his employer and
is entitled to the best service the real estate man can give
his information, talent, time, services, loyalty, confidence
and fidelity.
2. A real estate agent should be conservative in giving
advice and where he is not reasonably well posted should
refrain from giving his opinion of value.
3. A real estate agent should inspect his client’s property, if
possible, before offering it for sale, and he should always
inform the buyer if he has not done so.
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4. An agent should not depreciate the price of property
unless the price is too high; he should ask that the price
be reasonable and tell the owner that it must be so if he
expects his agent to make an attempt to sell it.
5. An agent should have the sole agency, in writing, if it is
property he is willing to make a special effort to sell.
6. An agent should advocate either the real consideration
to be shown in a deed to property, or one dollar and other
valuable considerations.
7. An agent should not give special information to inquirers
over the telephone or otherwise, unless they are willing to
give their names and addresses. Let them understand he
deals in the open and expects them to do likewise.
8. An agent should not ask for a net price on property,
unless he intends to buy it himself and so notifies his client.
9. An agent should request his client not to discuss price
with the prospective buyer, but persuade his client to refer
the matter to the agent, thus strengthening the agent’s
position with the buyer, and thus helping the agent to make
a better deal for his client.
competitor’s proposition.
5. An agent should give an honest opinion concerning
a competitor’s proposition when asked to do so by a
prospective purchaser, even though such opinion will result
in a sale by the competitor.
6. An agent should refuse to put a “For Sale” or “For Rent”
sign on property on which his competitor already has his
sign, providing the placing of such sign was through the
authorization of the owner.
7. If an agent can not efficiently handle a proposition he
should refer the matter to some competitor who can.
8. An agent should solicit cooperation of the members of the
board in selling sole agency listings unless he has a deal on
or has some particular buyer in sight to whom he expects
to make a sale, and he should always be ready and willing
to divide the regular commission equally with any member
of the board who can produce a buyer for any of his clients.
9. An agent should invoke friendly arbitrations by the real
estate board, rather than action through the courts of law,
in settling differences between himself and other agents.
10. An agent should always exact the regular real estate
commission prescribed by the board or exchange of which
he is a member, and should always give his client to
understand at the beginning that he is entitled to such, and
expects it.
10. He should not disregard the rights of other agents. He
should never take the position with an owner that he will
not work through his regular agent, or that he will not try
to sell his property to a live buyer he may have unless he
handles the entire deal and gets all the commission.
THE DUTY OF A REAL ESTATE MAN TO OTHER REAL ESTATE MEN
1. An agent should respect the listings of his brother agent
and cooperate with him to sell, provided the other agent
has the most suitable place.
11. He should not put his name in the newspapers in
connection with a deal unless really representing at least
one of the parties and receiving a part of the commission,
for such publicity is a sham, and the result is to the
disadvantage of all.
2. An agent should advise an owner to renew a selling
contract with some other agent rather than solicit the agency
himself, provided the other agent has made a reasonable
attempt to sell the property during the life of his contract.
3. An agent should always be loyal, square, frank end earnest
in the matters that require the cooperation of brokers, and
should always speak kindly of his competitors, refusing to
pass judgment on others from hearsay evidence.
4. An agent should not advertise anything but facts,
and should be careful not to criticise by any method a
12. When a sale or exchange is handled by two agents each
agent shall be given due credit in the report of such sale or
exchange.
13. He should not relay property, which means he should
not submit to one agent that which he obtains from another
agent, unless in exceptional cases and then he should let
the third agent know that he does not have the property
directly. For in case he relays, he represents neither side,
and is not entitled to the same consideration as either of the
other agents. n
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LEGAL
THE BANKRUPTCY
WHAT HAPPENS
EFFECT: TO THE LISTING?
[ BY DEANNE M. RYMAROWICZ, ESQ. ]
Nevada’s bankruptcy filing rate fell almost 20 percent
from 2010 to 2011, but Nevada still led the nation in
per-capita bankruptcy filings. The downward trend
continued in 2012, with 12,860 Chapter 7 cases
filed statewide, a decrease of 29 percent.
It remains unclear how Nevada will compare with other
states once all the 2012 statistics are reported, but it’s fair
to say that Nevada’s bankruptcy court remains among the
busiest in the country.
It seems that more of those bankruptcy filings are impacting
real estate listings and transactions. This article will seek
to provide a basic understanding of bankruptcy; its effect
on the listing agreement; its potential effect on a pending
transaction where the seller/debtor has already signed a
purchase agreement; and what exactly those “bankruptcy
premiums” have to do with it all.
WHAT IS BANKRUPTCY?
Bankruptcy is a federal process that allows a person or a
business entity to eliminate or reorganize their debts. The
three most common types of bankruptcy are a Chapter 7
liquidation, where the debtor’s eligible debts are eliminated;
Chapter 11 which is for business reorganization; and
Chapter 13 which allows an individual to reorganize debt.
In a Chapter 13 case, the debtor retains possession of his/
her property but must make monthly payments over three
to five years to repay some or all of the debt.
Chapter 7 cases typically have the most impact on a real
estate listing or transaction, and therefore are the focus of
this article.
Upon filing the bankruptcy petition, a “bankruptcy estate”
is formed, and all of the debtor’s non-exempt property
becomes property of the bankruptcy estate. The U.S.
[ 22 ]
trustee appoints a trustee to take possession of—and sell—
any property belonging to the debtor that is not exempt
under state law. The trustee uses any proceeds gained in
the liquidation of the non-exempt property for the benefit of
the estate, to pay back some of the debts.
The trustee will not sell a primary residence if the debtor
expresses a desire to remain in the home and is, for
example, working on a loan modification. But, if the debtor
was considering walking away or selling anyway, the
Trustee may consider selling.
WHAT PROPERTY IS EXEMPT?
In a Chapter 7 bankruptcy, the debtor is allowed to keep
certain property that is protected under NRS 21.090. Go to
leg.state.nv.us/NRS/NRS-021.html#NRS021Sec090 to read
NRS 21.090. Exempt property includes:
WHAT SHOULD A LISTING AGENT KNOW?
Communication between the listing agent and the seller
is crucial. When taking the listing, the listing agent should
inquire if the seller is considering or has ever considered
filing bankruptcy. If so, the agent should make the seller
aware of the consequences of filing bankruptcy during the
listing period or during escrow, remembering that once
the bankruptcy is filed, the Trustee has control and signs
all contracts. Listing agents should require that the sellers
inform the agent if they do file bankruptcy.
•
•
•
•
•
Works of art, musical instruments and jewelry not
to exceed $5,000 in value, and all family pictures
and keepsakes;
Necessary household goods, furnishings, electronics,
wearing apparel, other personal effects and yard
equipment, not to exceed $12,000 in value;
Professional libraries, equipment, supplies, and the
tools, inventory, instruments and materials used to
carry on the trade or business of the judgment debtor
for the support of himself and his family not to exceed
$10,000 in value;
One vehicle if the judgment debtor’s equity does not
exceed $15,000 or the creditor is paid an amount
equal to any excess above that equity; and
The debtor’s homestead (primary residence); only
equity is non-exempt up to the statutory limits.
A home with no equity is non-exempt and would become
the property of the bankruptcy estate. In other words, the
seller loses the ability to convey—and list—the property. As
such, any listing agreement previously entered into would
be voidable, since the seller cannot perform. Remember,
the GLVAR listing agreement includes a “warranty of
ownership” provision.
“The seller has no say in it anymore,” said Shelley Krohn, a
bankruptcy attorney and one of nine trustees in Las Vegas.
The only person who can sell the property after bankruptcy
is filed is the trustee, after court approval of the sale.
WHAT DOES THE DEBTOR WANT TO DO WITH THE HOUSE?
A debtor who pledged property as collateral for a loan
will need to pay something to the creditor for the right to
keep the property. When filing the petition, the debtor must
decide whether to “redeem” the property (pay the creditor
the current replacement value of the property), “reaffirm”
the debt (agree on new contract terms with the creditor), or
“surrender” the property.
Many times, the seller will be thinking about filing, go
ahead and list the home anyway, and then “something will
happen that throws them over the edge, and they’ll file,”
said Krohn.
“If I were the listing agent, I would contact the trustee
immediately, explain the property is already listed and ask,
‘would you retain me to do it?’ The trustee may let them
continue,” Krohn says, “but they’re not bound to it because
the [listing agreement] contract is executory.”
The trustee must approve or reject all executory contracts
entered into by the debtor. An executory contract is one
where some performance remains to be accomplished. If
the trustee rejects the listing agreement, the trustee will list
the property with his or her agent of choice. Krohn said she
uses REALTORS® she has trained in short sales.
CAN A SHORT SALE OCCUR IN BANKRUPTCY?
According to Krohn, “Most Trustees will not bother to do a
short sale unless there’s a carve-out for the unsecured creditors.
Either the buyer or the lender can pay it, it doesn’t matter.”
In a short sale, the seller has zero net proceeds. Therefore
it would not benefit the bankruptcy estate without some
source of proceeds. This is where the “bankruptcy
premium” comes in, where there is an additional charge for
purchasing the property disclosed in the MLS listing.
“It’s completely voluntary, and sometimes the lender will
pay it, but I can’t sell the house without the carve-out,”
CONTINUED ON PAGE 25
[ 23 ]
[ 24 ]
LEGAL
CONTINUED FROM PAGE 23
said Krohn. “The trustee is not a collection agent for the mortgage
company.”
The debtor still benefits by having the debt cleared, and no HOA dues
or other liens hanging over their heads. Lenders like bankruptcy short
sales because they have a court order approving the sale.
Krohn added that the buyer needs to be aware that a bankruptcy estate
short sale will be “as is” with no closing costs or home warranties, and
in addition to lender approval, court approval is required.
WHAT HAPPENS IF A PETITION IS FILED DURING ESCROW?
Like the listing agreement, a purchase agreement entered into by a
seller/debtor would be considered an executory contract that must be
accepted or rejected by the trustee. It is the same situation—the seller
can no longer convey the property post-petition, and the trustee must
take over and get court approval of the sale if the trustee accepts the
agreement.
“If a seller is already in escrow and it’s close to closing, let it close,” says Krohn.
“Otherwise, once the bankruptcy is filed, everything comes to a halt.”
Of course, the agent should also advise the seller to communicate fully
with their bankruptcy attorney as to the status of the listing or escrow,
to better prepare for filing the petition.
Because every situation is different, any time a seller files bankruptcy
and the property is already in escrow, the buyer’s agent should advise
the buyer to consult an attorney to determine the buyer’s rights and
any effects the bankruptcy will have on the purchase. n
Deanne Rymarowicz is GLVAR Legal Counsel. The information contained herein is not
intended to give legal advice or to address specific legal or ethical situations. Legal questions
should be directed to your legal counsel or the NVAR Legal Answerline at 1-800-748-6999.
CHAPTER 7 BASIC STE P S
EVERY CASE IS DIFFERENT; THIS IS A SIMPLIFIED VIEW OF AN OFTEN COMPLEX PROCESS.
THE AVERAGE CHAPTER 7 CASE TAKES FOUR MONTHS TO COMPLETE AFTER FILING.
1. Complete pre-petition
paperwork, information
gathering and coursework
2. File Petition Automatic
Stay!
4. Hold the 341 Creditors
Meeting
5. Marshal and sell nonexempt assets to pay debts
6. Discharge
3. Assign a Trustee
7. Case closed
[ 25 ]
[ 26 ]
MLS
UPDATING MLS
LISTING DATA
[ BY BOB MANNING, MLS COMMITTEE MEMBER ]
As a listing agent do you have the
responsibility and obligation to ensure that
the information about your listing is current?
While your listing is on the market, you have
the responsibility and obligation to update
the information in the MLS every time information material
to the listing changes. Let’s look at an example where
material information about a property changed and no
action was taken by the listing agent.
Listing Agent A has had the property listed since August
2008 and expiring in June 2010. Agent A then relists
the property in June 2010, as a short sale, with a list
price of $1,390,000. During the next 2 years and
3 months, Agent A adjusts the list price of the property
downward to $399,999.
In September 2012 Agent A receives an offer to
purchase the property and the offer is accepted and
escrow is opened. Approximately 75 days later, escrow
is cancelled and the property is returned to ER status.
In December 2012 the property is shown by Agent B
and the buyer wants to make an offer. Agent B attempted
to contact Agent A for more information concerning
the property by leaving two phone messages and
sending two e-mails to Agent A. Finally, Agent A
responds to one of the e-mails by saying, “This property
has been foreclosed on and will no longer be available
to purchase. The bank will hire another agency to put
it on the market as an REO. Thanks for your inquiry.”
Agent B reviewed the information in the MLS about the
property and noted that the NOD (notice of default)
field was blank. Agent B then reviewed the information
at the Clark County Recorder’s Office and noted the
following:
• A NOD was filed in July 2012
• A NOS (notice of sale) was filed in November 2012
Agent B informed his client of the bad news. The client
was very unhappy and wanted to know why there was
not information concerning the NOD in the MLS
information.
In your opinion, did listing Agent A update the MLS with
information that was material to the property?
Below are two references that may assist you in making
your determination. The answer to this question is a short
one, YES.
MLS POLICIES TO AVOID FINES OR OTHER PENALTIES
LISTING OFFICES MUST
G. Correct Information in System:
Be sure that all information entered into the computer is
correct. Secretaries or assistants are not responsible for
errors, the listing agent is responsible. All listing information
placed in the Multiple Listing Service must remain current
and listings must be updated when unavailable information
becomes available.
CONTINUED ON PAGE 29
[ 27 ]
[ 28 ]
MLS
CONTINUED FROM PAGE 27
CODE OF ETHICS
Article 2
REALTORS® shall avoid exaggeration, misrepresentation,
or concealment of pertinent facts relating to the property
or the transaction. REALTORS® shall not, however, be
obligated to discover latent defects in the property, to
advise on matters outside the scope of their real estate
license, or to disclose facts which are confidential under
the scope of agency or non-agency relationships as
defined by state law. (Amended 1/00)
REALTORS® POLITICAL
ACTION COMMITTEE (RPAC)
MAJOR
INVESTORS
UPDATE THE ESTIMATED CLOSE DATE
If you receive a MLS violation for an estimated close
date, remember this date is different from your listing
expiration date. The estimated close date is the
approximate date a pending or contingent sale will
close. If the property doesn’t close, be sure to revise
to a later date. And don’t forget, you also receive a
three day reminder from MarketLinx regarding your
approaching estimating close dates. Keep track of
these dates and look out for the reminders to avoid
costly fines.
[ 29 ]
ST E R LI N G R
• Standard of Practice 12-8
The obligation to present a true picture in
representations to the public includes information
presented, provided, or displayed on REALTORS®’
websites. REALTORS® shall use reasonable efforts
to ensure that information on their websites is
current. When it becomes apparent that information
on a REALTORS®’ website is no longer current or
accurate, REALTORS® shall promptly take
corrective action. (Adopted 1/07) n
G OL D E N R
Article 12
REALTORS® shall be honest and truthful in their real
estate communications and shall present a true picture
in their advertising, marketing, and other representations.
REALTORS® shall ensure that their status as real estate
professionals is readily apparent in their advertising,
marketing, and other representations, and that the
recipients of all real estate communications are, or have
been, notified that those communications are from a real
estate professional. (Amended 1/08)
CHRISTINE McNAUGHT
*NANCY ANDERSON
LEROY SCHAEFFEL
LILLIAN SPENCER
RPAC HALL OF FAME MEMBER
* Tier 1 - Total lifetime contributions of $25,000 or more
** Tier 2 - Total lifetime contributions of $50,000 or more
***Tier 3 - Total lifetime contributions of $75,000 or more
For information about how you can contribute to one of
the best investments in real estate, visit the REALTOR®
Action Center at realtoractioncenter.com/rpac/.
Contributions are not deductible for income tax purposes. Contributions to RPAC are
voluntary and are used for political purposes. You may refuse to contribute without reprisal
and the National Association of REALTORS® or any of its state associations or local boards
will not favor or disfavor any member because of the amount contributed. 70% of each
contribution is used by your state PAC to support state and local political candidates. Until
your state PAC reaches its RPAC goal 30% is sent to National RPAC to support federal
candidates and is charged against your limits under 2 U.S.C. 441a; after the state PAC
reaches its RPAC goal it may elect to retain your entire contribution for use in supporting
state and local candidates.
[ 30 ]
HOW TO MAKE MONEY GOING GREEN
HIGH
PERFORMANCE
HOME SYMPOSIUM
[ BY SHARON EXARHOS, GREEN COMMITTEE CHAIR ]
SAVE THE DATE: HIGH PERFORMANCE
HOME SYMPOSIUM – Friday, March 13,
GLVAR, 7:30 a.m. to 5 p.m. Guest Speakers:
Amanda Stinton, Manager, NAR’s GREEN
Designation, NAR and Stacey Crowley,
Director, Nevada State Office of Energy.
Learn what consumers want and why energy efficiency
technology has the answers. You will hear from speakers
and panelists who are experts in their field. Pertinent
subjects include appraisals, greening the MLS, current
rebates and financing, trends, and the value of being a
GREEN REALTOR®. There will be a variety of vendors.
The fee for GLVAR Members is $25 or $30 for non GLVAR
members. To register please contact Samantha Walker,
GREEN Committee Liaison at [email protected] or call
her at (702) 784-5059.
WHAT IS YOUR GREEN IQ? Watch for and use the new
terms used for “green” homes. The number one word
is “high performance.” Additional descriptive terms are:
energy efficient, net zero energy, sustainable, adaptive,
passive house, smart home, regenerative, generational
housing and transformational. Please also note, the terms
“traditional home” and “conventionally built” are associated
with lower energy efficiency. By becoming more familiar
with the “green” language you will be helping both your
buyers and sellers.
COUPONS THAT SAVE YOU MONEY ON YOUR NEXT
CAR WASH Go to www.snwa.com and click on the tab
at the top that says “Coupons & Rebates”. Look for the
title, ”Use a Water Smart Car Wash,” click on “Get Car
Wash Coupons.” I surveyed all the car wash sites and the
coupons range in savings from $1 to $4 for the basic car
wash. Some of these sites offer you larger discounts if you
pick a higher option.
CURRENT REBATES FOR POOL COVERS, RAIN SENSORS,
SMART CLOCK IRRIGATION Also, at the www.snwa.com
website click on the tab at the top “Coupons & Rebates”.
Look for the titles: “Pool Cover Coupons,” “Smart Irrigation
Clock Rebate,” and “Rain Sensor Rebate”. Each one offers
a range of coupons featuring instant rebates and locations
of participating retailers. The offers give specific instructions
explaining the rebate process. Not only will you save money
by getting a rebate, you will also save in the water not lost
to evaporation or a leak.
Speaking of leaks, www.snwa.com page also offers you
instructional videos on how to isolate a leak as well as
how to fix that leak. I hope you will share the rebates and
savings with others.
YOUR GREEN COMMITTEE INVITATION Our next
meeting will be on Friday, February 8, at 1:00 p.m. in
GLVAR’s downstairs board room. Ellen Ross, Vice Chair
of the GREEN Committee and I invite you to attend and
become a Member of this committee. Ellen’s email is
[email protected]. You do not have to be a GREEN
REALTOR® to join this committee.
The Mission of the GREEN Committee is parallel with
the National Association of REALTORS® (NAR) which is
to drive National’s goals to the local market. The scope,
in part, is providing GLVAR Members with the knowledge
and awareness of high performance building principles
(both residential and commercial). Additionally we strive to
provide current information and education regarding green
features and benefits to GLVAR Members and the public in
a variety of venues.
I value your suggestions or questions, please feel free to
contact me at [email protected]. n
[ 31 ]
[ 32 ]
MLXCHANGE
HAVE YOU NOTICED?
MLXWireless now includes Realist®
[ BY KATHY HEANEY, CORELOGIC MARKETLINX ]
Realist was introduced to GLVAR members in August 2012.
Recently we added this functionality into the MLXWireless
product. MLXWireless can be accessed by going to las.
mlxwireless.com on your phone or tablet device.
Depending on your wireless device, this information can
be located either on the top right above the listing photo, or
under the tax info section, below the property information.
We have classes at GLVAR on Realist®. To sign-up,
go to www.LasVegasRealtor.com. We also have our
Computer Labs where no reservation is required.
These are held on Monday and Friday from 9:00 to
11:00 a.m. and 1:00 to 3:00 p.m.
Contact us at 702-735-0478 or email us at
[email protected] n
MLS DATA CO-OP
MLS Data Co-op is an exciting map centric search tool
that is available in Fusion and MLXchange that allows
agents to search GLVAR property data in partnership
with various cooperating associations. For example,
you can search for beach front property in South East
Miami Florida (SEF).
This tool allows agents to search GLVAR listing, tax
and foreclosure data. Agents can print, email, save
search criteria and do one of the easiest comparable
market analyses (CMA). It automatically maps the
properties and gives you the ability to edit the final
properties in your CMA. Data Co-op has many other
features so be sure to locate the Table of Contents
gadget window and select up to 20 sources of public
and private information. For more information on these
and the many other features available on the Data Coop system, you are invited to attend a Data Co-op
training class. Register at www.lasvegasrealtor or call
702-784-5050.
[ 33 ]
READ
MORE APP
DETAILS
PAGE 2
[ 34 ]
YOUNG PROFESSIONALS NETWORK OF LAS VEGAS
YOUNG LAS VEGAS REALTORS®
JOIN THE FIGHT
YPN LAS VEGAS MILLION DOLLAR PLEDGE
YPN of Las Vegas is proud to promote their Million Dollar
Pledge program. The goal is to collect $1,000,000 during a
ten year time span from 2012-2022 for the Political Survival
Fund (PSF). Funds from this important program are used
to support candidates at the local, state and national level
who understand and support REALTOR® issues. PSF is
your best insurance against poorly designed small business
and commercial real estate legislation. Join the YPN of Las
Vegas mission to raise awareness of this important program
and take the pledge today. Members can contribute at
any level at one time or by setting up convenient monthly
installments. For more information and to submit your
pledge visit lasvegasypn.net/ypn-million-dollar-pledge/.
UPCOMING YPN OF LAS VEGAS COMMITTEE MEETINGS
YPN Las Vegas is proud to present our upcoming Committee
speakers:
Thursday, February 14, 2013 George McCabe, the Public
Relations Director for B&P Public Relations will give a
presentation on public relations 101 for REALTORS®. He
will teach you how to use the PR tools already provided
to you by GLVAR to help position you as an expert in your
business.
Thursday, March 14, 2013 Kay Collis, has been a member
and advocate of Toastmasters for 21 years.Toastmasters
International is a nonprofit, educational association that
has helped more than four million people through its
communication and leadership program. There are more
than 180,000 members in 9,000 clubs in 70 countries
throughout the world.
For more information about YPN of Las Vegas please
contact YPN Chairwoman Shyla Magee at shylamagee@
winderemere.com. n
2013 ME E T I N G S CHE D U L E
The Young Professional Network of Las Vegas
Committee meets the SECOND THURSDAY OF
EVERY MONTH AT GLVAR in Classroom A
from 1:00 – 2:00pm
February 14 • March 14 • April 11 • May 9
June 13 • July 11 • August 8 • September 12
October 10 • November 14 • December 12
[ 35 ]
MEMBERSHIP
CONGRATULATIONS JANUARY INDUCTEES
I AM A REALTOR® I PLEDGE MYSELF
To protect the individual right of real estate ownership and to widen the opportunity to enjoy it;
To be honorable and honest in all dealings;
To seek better to represent my clients by building my knowledge and competence;
To act fairly towards all in the spirit of the Golden Rule;
To serve well my community, and through it my country;
To observe the REALTORS® Code of Ethics and conform my conduct to its lofty ideals.
RICHARD ADKINS
ERIC M. CHAMBERLAIN
AUDREY DORENBAUM
HARRY G. GOLDEN
JULIANNE N. ATKINSON
CHELSEA CHIPELLO
JOY DORFMAN
RICH A. HART
LAURA BAILEY
ANDREA M. CONWAY
JIM R. DOYEL
SHANNON HEARNS
AMANDA K. BARRON
NEIL S. COOPER
DIANE R. EDDINS
TERI S HILL
KAYLI BJORNSEN
JOSEPH E. COSTELLO
VELEDA L. ENGLISH
JOSEPH HOGIN
BROOKE BROWN
KELLY COSTELLO
TRUMAN T. FLEMING
JASON R. HOLLEY
LORI A. BROWN
MATTHEW J. COSTELLO
DALE G. FLOYD
ALANA HORTON
YVETTE BROWN
JASON D. CRAWFORD
CHRISTINA M. FREI
LIZBETH HUYNH
DEVEN CARLOCK
MEDONIO DANAO
KEVIN T. GAMMON
CYNTHIA JEZZARD
BRITTANY M. CARTER
JOHN DOMINICK
JANE GARRAS
CHERYL A. JONES
REALTY EXECUTIVES EXPERTS
KELLER WILLIAMS REALTY SOUTHWEST
KELLER WILLIAMS SOUTHERN NEVADA
NEW WEST PROPERTY MANAGEMENT
WINDERMERE PRESTIGE PROPERTIES
GAVISH REAL ESTATE
PRUDENTIAL AMERICANA GROUP
MAJESTIC PROPERTIES
RHODES RANCH REALTY
ROSSUM REALTY UNLIMITED
RE/MAX ADVANTAGE
PROVINCE REAL ESTATE
KELLER WILLIAMS
WARDLEY REAL ESTATE
ELITE REALTY
COSTELLO REALTY & MGMT
RSVP REAL ESTATE SERVICES
MAJESTIC PROPERTIES
REALTY ONE GROUP, INC.
VISION REALTY GROUP
GOLDEN REAL ESTATE & INV, LLC
WARDLEY REAL ESTATE
Century 21 Martinez & Associates
ALL VEGAS VALLEY REALTY
[ 36 ]
LAS VEGAS REAL ESTATE & INVESTMENTS
COLDWELL BANKER PREMIER
PULSE REALTY GROUP LLC
GAVISH REAL ESTATE
REALTY PROFESSIONALS OF LAS VEGAS
CENTURY 21 MARTINEZ & ASSOCIATES
URBAN NEST REALTY
CELINE KIM
DARREN R. MORTENSON
SUNDIE L. SAPIEN
LEE W. WEN
XTREME REALTY
REALTY OF AMERICA INVESTMENT
CODY LEWIS
SUZANNAH R. NOONAN
MARIA T. SARAVO-CARLSON
DENORA D WILKERSON
CENTURY 21 AADVANTAGE GOLD
REALTY ONE GROUP INC.
MELANIE LEWIS
VITALIY OSADCHIY
CRAIG SIMMONS
FORTRESS REAL ESTATE SERVICES
PROMINENT REALTY GROUP LLC
LIANG LIANG
GREGORY M. PAIELLI
STEPHEN SKUBA
KRIS WILLIAMS
KENNY LIN
TERI PARSONS
MICHAEL P. SULLIVAN
SANDY A. WILLIAMS
SYNERGY SOTHEBY’S INTERNATIONAL REALTY
SYNERGY SOTHEBY’S INTERNATIONAL REALTY
BENTAL INTERNATIONAL REALTY LLC
JERILYN LUBITZ
ANDREW LUNSFORD
EXIT LAS VEGAS REALTY CENTER
JOSEPH MAGGIO
MARIA I. MARKS
SOUZA10.COM
WARDLEY REAL ESTATE
AMERICAN REALTY & PROPERTY MANAGEMENT LLC
SIMPLY PROPERTY MANAGEMENT
KEY REALTY
KING OF CONDOS INC.
KAT PASQUARELLI
BIREN TALATI
PROMINENT REALTY GROUP LLC
KRISTINA PAULUS
DANA M TALKINGTON
ROBERT PAWLUK
WAYNE TANG
NATIONWIDE REALTY LLC
MATTHEW C. PETERS
SUSAN TESMER
GAVISH REAL ESTATE
DEBRA MARTINEZ-PALAFOX
MARCELO E. RAMALLO
MICHAEL THOMAS
DONNELLE MCCLAIN
MICHAEL J. REBARCHICK
BETTY THURBER
COLLEEN MCDONALD
TRAVIS REINTJES
RYAN TSELIKIS
JUSTIN D. MILLER
STEPHEN RISING
RICK E. TURLEY
HECTOR MONTANO
TINA ROBNETT
RUOMEI WANG
TANNER MORTENSEN
JULIA SALOMON
CHIPS W. WELDON
FAR REALTY GROUP
WARDLEY REAL ESTATE
FIRST REAL ESTATE COMPANIES
ALL VEGAS VALLEY REALTY
SELLSTATE DELUXE REALTY
KELLER WILLIAMS MARKET PLACE
KEY REALTY
US REALTY & PROPERTY MANAGEMENT
FORTIS RESIDENTIAL REALTY
KELLER WILLIAMS MARKET PLACE
WARDLEY REAL ESTATE
LANDMARK REALTY
RE/MAX WINNER
[ 37 ]
WINDERMERE PRESTIGE PROPERTIES
DIANA WINDER-HEDGEMA
AARON R. WOLSKI
GAVISH REAL ESTATE
LESLIE YEATES
YONI YON
REISS PROPERTIES
[ 38 ]
02. 13
YOUR Education Source for Real Estate in Southern Nevada
CONTINUING EDUCATION SCHEDULE
EDUCATIONAL OPPORTUNITIES
TIME
COURSE TITLE
CE# & CREDIT
*PRICE
MON/February 4
9:00 am 12:00 pm
Preparing Contracts the Right Way the First Time
CE.5106000-RE
(3) Contract
$20.00
MON/February 4
1:00 pm 4:00 pm
What Every Licensee Should Know 2013 - Legislative Law
CE.5463001-RE
(3) Legislative Law
$12.50
THU/February 7
1:00 pm 4:00 pm
Anti-Trust for REALTORS® - RRG
CE.5284000-RE
(3) General
$30.00
FRI/February 8
9:00 am 12:00 pm
Real Estate Update 2011
CE.5322000-RE
(3) Legislative Law
FRI/February 8
1:00 pm 4:00 pm
I Am A Contract
CE.3896000-RE
(3) Contract
TUE/February 12
1:00 pm 4:00 pm
Managing Ethical Risks - RRG
CE.3729000-RE
(3) Ethics
$30.00
TUE/February 19
9:00 am 12:00 pm
Foreclosure: The Process - The Markets - The Law
CE.3522000-RE
(3) General
$20.00
TUE/February 19
1:00 pm 4:00 pm
Helping Clients/Customers Facing Financial Difficulties
CE.3929000-RE
(3) General
$20.00
TUE/February 19
5:30 pm 8:30 pm
Diversity Training Skills for Better Clients
CE.3575000-RE
(3) Ethics
$20.00
WED/February 20
9:00 am 12:00 pm
Understanding Today’s Mortgage Loan Process
CE.5281000-RE
(3) General
FREE
WED/February 20
1:00 pm 4:00 pm
Agency, Are You a Knowledgeable,
Competent Real Estate Agent
CE.3809000-RE
(3) Agency
$20.00
WED/February 20
5:30 pm 8:30 pm
2011 Nevada Law Update
CE.5323000-RE
(3) Legislative Law
$20.00
THU/February 21
9:00 am 12:00 pm
Know Your Contracts
CE.5523000-RE
(3) Contracts
$20.00
THU/February 21
1:00 pm 4:00 pm
How to Nail Your Listing Presentation
CE.5333000-RE
(3) General
$20.00
24 HOU R CE
DAY / DATE
SPECIAL
$00.00
$10.00
For
BOTH
$20.00
Classes!
GET ALL 8 CLASSES FOR $120. If you are a Broker or Property Manager, replace with a General class from the 24 Hour schedule.
FRI/February 22
9:00 am 12:00 pm
The Rules & Regulations of Property Management
CE.3687000-RE
(3 Property Management
$20.00
FRI/February 22
1:00 pm 4:00 pm
Disciplines, Challenges & Rules of Broker Management
CE.3580000-RE
(3) Broker Management
$20.00
MON/February 25
1:00 pm 5:00 pm
Fundamentals of Commercial Real Estate
CE.2708000-RE
(3) General
$20.00
TUE/February 26
1:00 pm 4:00 pm
The Law of Foreclosure &
Foreclosure Alternatives - RRG
CE.5271001-RE
(3) General
$30.00
WED/February 27
9:00 am 12:00 pm
What Every Licensee Should Know 2013 - Agency
CE.5464001-RE
(3) Agency
$12.50
THU/February 28
9:00 am 12:00 pm
Expect Ethics
CE.3503000-RE
(3) Ethics
$20.00
* P R I C E S S H O W N A R E F O R GLV A R M E M BE RS . N O N -M E M BE R: $30.00 O R $35.00 PE R CL AS S .
C A NC ELLA TI O N I S R E Q U I R E D W I TH I N 48 H OU RS O F T HE CL AS S T O RE CE I VE A RE F U N D. S O RRY N O E XCE PT I O N S .
TH E S E C O U R S E S A R E A P PRO VE D BY T HE N E VADA RE AL E S T AT E CO M I S S I O N .
COURSE, TIME & DATE SUBJECT TO CHANGE
➠
CLICK H ERE FOR CURRENT INFORMATION, TO REGISTER & NEXT MONTHS SCHEDULE
[ 39 ]
SINGLE FAMILY HOME REPORT
[ DECEMBER 1- DECEMBER 31, 2012 ]
NEW LISTINGS
EX ISTIN G SING LE F AMIL Y H OMES
SALES
PRICE RANGE
2 BDRMS
3 BDRMS
4+ BDRMS
TOTAL UNITS
S/FAM UNITS
$49,999 or Under
20
31
7
58
51
$50,000 to 59,999
6
32
8
46
43
$60,000 to 69,999
14
47
5
66
51
$70,000 to 79,999
24
55
20
99
74
$80,000 to 89,999
18
97
22
137
93
$90,000 to 99,999
17
77
37
131
81
$100,000 to $119,999
24
250
58
332
210
$120,000 to $139,999
25
288
127
440
268
$140,000 to $159,999
21
208
130
359
253
$160,000 to $179,999
17
134
117
268
221
$180,000 to $199,999
9
73
114
196
149
$200,000 to $249,999
17
121
209
347
227
$250,000 to $299,999
10
47
116
173
144
$300,000 to $399,999
4
40
121
165
160
$400,000 to $499,999
2
18
53
73
67
$500,000 to $999,999
3
10
42
55
55
$1,000,000 to $2,999,999
0
1
14
15
22
$3,000,000 to $4,999,999
0
0
1
1
4
$5,000,000 and Over
0
0
0
0
1
231
1,529
1,201
2,961
2,174
MEDIAN PRICE
110,000
130,000
190,000
149,000
156,950
AVERAGE PRICE
132,571
148,074
236,593
182,768
213,011
TOTALS
LISTED VS. SOLD
70,000
60,000
50,000
40,000
30,000
20,000
10,000
0
41%
2008
67%
2009
59%
2010
LISTED
69%
2011
2012
SOLD
FOR MORE COMPREHENSIVE STATISTICAL REPORTS
➠
91%
CLICK HERE
[ 40 ]
CONDO/TOWNHOME REPORT
[
DECEMBER 1- DECEMBER 31, 2012 ]
NEW LISTINGS
EX ISTIN G CONDO/T OW NH OMES
SALES
PRICE RANGE
1 BDRM
2 BDRMS
3 BDRMS
TOTAL UNITS
CONDO UNITS
$49,999 or Under
53
62
11
126
109
$50,000 to 59,999
8
46
16
70
65
$60,000 to 69,999
11
49
17
77
81
$70,000 to 79,999
2
57
20
79
67
$80,000 to 89,999
1
32
22
55
54
$90,000 to 99,999
1
14
24
39
36
$100,000 to $119,999
0
21
31
52
39
$120,000 to $139,999
2
25
18
45
19
$140,000 to $159,999
1
9
5
15
15
$160,000 to $179,999
0
7
5
12
16
$180,000 to $199,999
1
4
2
7
8
$200,000 to $249,999
0
3
2
5
11
$250,000 to $299,999
0
1
1
2
1
$300,000 to $399,999
0
0
0
0
1
$400,000 to $499,999
0
0
1
1
0
$500,000 to $999,999
0
1
0
1
0
$1,000,000 to $2,999,999
0
0
0
0
0
$3,000,000 to $4,999,999
0
0
0
0
0
$5,000,000 and Over
0
0
0
0
0
80
331
175
586
522
MEDIAN PRICE
43,750
71,000
90,000
71,000
70,000
AVERAGE PRICE
50,537
80,620
95,983
81,101
81,404
TOTALS
LISTED VS. SOLD
20,000
15,000
10,000
5,000
0
28%
2008
61%
2009
65%
2010
LISTED
79%
2011
SOLD
➠
CLICK HERE
[ 41 ]
90%
2012
ANNUAL MLS STATISTICS
TOTAL UNITS
SINGLE FAMILY CLOSINGS
4000
3500
2008
3000
2009
2500
2010
2000
2011
1500
2012
1000
500
0
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
1000
900
TOTAL UNITS
CONDO/TOWNHOME CLOSINGS
Jan
800
2008
700
2009
600
2010
500
400
2011
300
2012
200
100
0
Jan
Feb
Mar
$200,000
$152,924
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
$165,998
AVERAGE PRICE
$160,000
$120,000
$64,056
$70,899
$80,000
2011
Year End Average
2012
Thru December
$40,000
$10,000
$0
Single Family
Condominium
➠
CLICK HERE
[ 42 ]
RESIDENTIAL RENTAL LEASED REPORT
RESIDENTIA L RENT AL UNIT S L EAS ED
[ DECEMBER 1- DECEMBER 31, 2012 ]
PRICE RANGE
$500 or Under
2 BDRMS
3 BDRMS
4+ BDRMS
TOTAL UNITS
S/FAM UNITS
20
1
0
21
25
$501 to $800
332
82
7
421
373
$801 to $1,000
144
376
61
581
525
74
457
223
754
765
$1,001 to $1,300
$1,301 to $1,500
23
78
103
204
269
$1,501 to $1,700
10
36
63
109
127
$1,701 to $2,000
17
26
39
82
116
$2,001 to $3,500
17
19
61
97
122
$3,501 to $5,000
0
0
7
7
15
$5,001 to $8,000
0
1
4
5
10
$8,001 to $10,000
0
0
0
0
0
1
3
1
5
0
TOTALS
639
1,079
569
2,287
2,347
MEDIAN PRICE
795
1,065
1,300
1,075
1,100
2,024
1,230
1,565
1,535
1,239
$10,001 and Over
AVERAGE PRICE
LISTED VS. LEASED
3,000
2,500
NEW LISTINGS
LEASED
2,347
2,289
2,000
1,500
1,000
500
AVERAGE PRICE
December 2011
January 2012
February 2012
March 2012
April 2012
May 2012
June 2012
July 2012
August 2012
September 2012
October 2012
November 2012
December 2012
MEDIAN PRICE
$1,307
$1,447
$1,347
$1,621
$1,299
$1,235
$1,222
$1,491
$1,323
$1,308
$1,821
$1,324
$1,535
December 2011
January 2012
February 2012
March 2012
April 2012
May 2012
June 2012
July 2012
August 2012
September 2012
October 2012
November 2012
December 2012
0
LISTED
LEASED
➠
CLICK HERE
[ 43 ]
$1,095
$1,095
$1,080
$1,095
$1,095
$1,100
$1,100
$1,100
$1,095
$1,095
$1,100
$1,095
$1,075
FEBRUARY2013
SUNDAY
MONDAY
TUESDAY
WEDNESDAY
THURSDAY
FRIDAY
ML XC
X C HA N GE
T R A IN IN G
S C HED U L E
PPAAGE
GE032
0
•
C E ED U C A T IO N
S C HED U L E
PPAAGE
G E039
0
1
2
8
9
15
16
22
23
10:00am Market
Conditions Open
Forum
3
4
5
11
12
17
18
24
25
10
SATURDAY
3:00pm Zipform
Training
6
7
13
14
19
20
21
26
27
28
10:00am MLS
Open Forum
8:00am Brokers’
Breakfast/Forum
ROCKY MT.REGION XI CONFERENCE
(SANTA FE, NM)
CALENDAR SUBJECT TO CHANGE
➠
®
CLICK HERE FOR CURRENT INFORMATION
REALTOR® TRADEMARK
Did You Know…
When you are asked what you do for a living,
describe your profession before you use the term
REALTOR® to indicate you are also a member
of a local board and committed to a strict Code
of Ethics. For example, say, “I am a real estate
broker and also a REALTOR®.”
[ 44 ]
[ 45 ]

THE BUZZ - Greater Las Vegas Association of Realtors

Transcription

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