Posts Tagged ‘Featured’

About Assembly Bill 284 (AB 284 NV)

Friday, November 18th, 2011

Real estate agents in Las Vegas are in tuned to the recently passed AB 284 that went into effect October 1, 2011 but those outside of the Las Vegas real estate market aren’t too up to date.

To sum it all up, AB 284 will delay the foreclosure process. How? By increasing the requirements necessary for lenders to foreclose. In light of all the robo-signing and the increased investigations of 14 major lenders for foreclosure fraud, this Bill is meant to be one of the solutions to this ridiculous problem.

While this most likely will expose fraud and give homeowners the ability now to obtain information on who is holding their mortgage, increasing paperwork and having it recorded through the county clerk is simply going to create a huge back up in the system. With various budget cuts, it’s unlikely that the clerk’s office is going on a hiring frenzy to keep up with all the work.

The number of foreclosure filings for Clark County have already significantly dropped in the past month since the bill went into effect, literally from once were thousands of filings a month now down to hundreds.

Again, this will reduce fraud and expose fraud allowing those involved to be prosecuted and/or fined accordingly which overall is in the best interest of all homeowners, however, the back up in the system is going to be disastrous. The market is already slow, it’s only going to slow down further.

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Identity Theft & Prevention

Wednesday, October 19th, 2011

In 2009 alone, there were over 10 million cases of identity theft. Here we are two years later and it is no surprise that identity theft is still on the rise. Tough financial times can lend themselves to people taking extremely desperate measures and stealing the identity of someone who has money readily available to them. While some use the information for shopping sprees, others are using the newly obtained name to commit crimes or even establish a new identity within another country.

Identities are being stolen by….

  • Digging through trash looking for statements with personal information and account numbers on them.
  • Taking personal papers from plain sight. (Almost half of all victims know the thief).
  • Stealing a wallet or purse.
  • Directly obtaining a credit card or debit card number.
  • Hacking into a server or database where personal information is stored.
  • Taking information from someone’s computer on an unsecured wireless network.
  • A victim being careless or forgetful.

Prevent identity theft by….

  • Dropping outgoing mail in a post office box.
  • Securing your wireless internet connections. Create passwords not easily detected.
  • Shredding any documents containing personal information.
  • NEVER carrying around your social security card.
  • Checking your credit every year if not more for discrepancies. It is also a good idea to check the social security numbers of your children and any recently deceased family members. This is the newest trend for thieves.

For more statistics, information and prevention tips go to

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Lake Mead Water Level Rising

Wednesday, October 12th, 2011

The water levels of Lake Mead are rising. For the first time in over ten years, the water is headed up not down and although no one wants to celebrate too soon, it’s worth popping a little bubbly for.

The water problem in Las Vegas has been a concern for years and the main solution has been water conservation. In 2007 we blogged about a Water Smart Congress and Las Vegas has been focusing their efforts to ease the water problem. Clark County continues to be applauded and awarded for it’s various conservation practices including the tax credits for converting to desert landscaping and the enforcement of water schedules and practices. Way to go!

Analysts believe that the rising levels of Lake Mead will only continue until the end of the year. Heavy snowfall has accounted for the level increase and only time and Mother Nature will tell what will happen this next season. As it stands with the current rate of water rising, Lake Mead will be around 50% capacity. Not yet enough to start splurging on our water usage.

Conservation programs are continually being tweaked and new ideas are being birthed as the promise to climb out of this decade of drought is uncertain. My contribution? Take fewer baths and shorter showers, keep the inside instead of the outside of my car squeaky clean and order beer instead of tap water at the local watering hole.

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Another Look at the Las Vegas Real Estate Market

Wednesday, September 21st, 2011

It’s hard to always talk about the bright side of things when all the over arching themes seem to be continually gloomy. As a real estate agent, broker and investor, I too have to evaluate the market and be honest about what seems to be happening in the Las Vegas real estate market.

Here are the facts:

  • Resale home prices are at an all time low.
  • Las Vegas continues to be number one in the country for foreclosures.
  • Foreclosure numbers are declining slowly but because default notices continue to increase, the actual foreclosure count will remain grim.
  • The national average household income level has dropped to under $50,000.
  • While interest rates are extremely low, lending guidelines are much more strict.
  • The real estate strain includes not only residential but commercial properties as well.

So where’s the good news? Again, when all the surrounding statistics are ugly it’s hard to see much beyond that but HOMES ARE SELLING! Not only are they selling in about 90 days after being on the market, but Las Vegas homes are selling an average of 10-15 days faster than the national average!

Slow and steady wins the race friends. The market will one day return. I’m not sure we’ll see it rise to those glory days of early 2000, but it will return. We’re all in this one for the long haul.

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Las Vegas Life: What Not To Do

Monday, August 22nd, 2011

I’ve recently come across several popular Las Vegas websites featuring articles on what not to do when you are a visitor in Las Vegas. The lists are for the young and adventurous tourist looking for a good time, not really for the permanent Las Vegans. Since I’ve been a Las Vegas real estate resident for over 15 years, I decided to make a “What Not to Do” list for the locals, based on my own experience. Enjoy.

  1. Do not skip the sunscreen just because you tan easily. The Las Vegas sun is intense. One good burn will damage your skin for life.
  2. Do not go to the Las Vegas Strip on weekends, especially in the summer, if you don’t have to.
  3. Do not go see the free outdoor show at TI. It’s a waste of time and a prime location for pickpockets and time share salesmen – people scrunched together with big purses and strollers with no place to go for 15 minutes at a time.
  4. Do not go the DMV with the expectation that you’ll be in and out in a few minutes. Give yourself plenty of time.
  5. Do not try to be a hotel visitor so you can swim in one of the many luxurious pools. Save yourself the embarrassment.
  6. Do not eat at the cheapest buffets in town just to save a little money. Who knows how long the cottage cheese has been out on the salad bar.
  7. Do not wear an adult diaper to avoid getting up from a lucky slot machine. Come on locals. That’s just not right.
  8. Do not water your plants when you feel like it. Follow the water schedule and avoid a lofty fine.
  9. Do not trim your neighbors palm trees just because they hang over into your yard. Ask them first.
  10. Do not park in a numbered parking spot ANYWHERE unless it’s yours.

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