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Real Estate News

Mortgage originations slow in Las Vegas

Rising interest rates and price appreciation are slowing mortgage originations in Las Vegas, but a growing percentage of homeowners here are bucking the national trend by refinancing their homes and getting home equity lines of credit, according to a research firm.

State will appoint a receiver if board resigns

If the president resigns and if there are no other homeowners willing to serve, the Nevada Real Estate Division would appoint a receiver to manage the association who in turn would select a management company to manage the association until that time the association has recovered from the resignations.

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Tips for a safe HOA Halloween

It’s that time of year again, and anyone who knows me, knows I love Halloween. Here are some tips for your homeowners association for a safe night of fun.

Real Estate Briefs

The Greater Las Vegas Association of Realtors announced the results of its annual election of officers and board members, with local Realtors Janet Carpenter serving as 2019 president and Tom Blanchard serving as 2019 president-elect.

RESALE HOME SALES: SEPT. 13-19

Editor’s note: Listings include the resale home’s parcel number. The address listed is the homebuyer’s mailing address and not the actual location of the resale home. About 90 percent of these addresses reflect the home purchase. Check the parcel number to make sure. Also, a few transactions do not reflect the market value of the homes. The information is provided by Accudata, a local research firm. For the complete listing, visit RJRealEstate.Vegas.

RESALE HOME SALES: AUG. 30-SEPT. 4

Editor’s note: Listings include the resale home’s parcel number. The address listed is the homebuyer’s mailing address and not the actual location of the resale home. About 90 percent of these addresses reflect the home purchase. Check the parcel number to make sure. Also, a few transactions do not reflect the market value of the homes. The information is provided by Accudata, a local research firm. For the complete listing, visit RJRealEstate.Vegas.

Nobody wants the state to take over an HOA

Q: How often does the government come in and take over a homeowners association. I’m a board member, and our reserves are underfunded. On paper, for 2020, the total should be $450,000. At this time we have $250,000 but are going to spend most of that ($160,000) to replace the roofing that was installed in the late 1980s. About $75,000 is raised in assessments each year. Management wanted the board to raise the assessments, which all members were against. It then made the threat that, because of the underfunding, the state/county might come in and take us over.

Local homes selling faster than in the past

If it seems like for-sale signs aren’t staying in front of houses as long as they used to when you look around your neighborhood, you might be on to something.

Commercial real estate market gains strength

The commercial real estate market is gaining strength with growing rents and lower vacancy rates; and local experts say that trend should continue. In addition, some companies are on the verge of making Las Vegas relocation announcements.

HOA needs to install mic, sound system

Under the Fair Housing Act laws, “reasonable accommodations” need to be provided upon written request. Your association needs to buy a good microphone/sound system.

NAIOP Southern Nevada chief speaks on valley’s potential expansion

The Las Vegas Valley’s commercial real estate sector and the local economy are ever-changing. The valley has seen its share of potential shifts on the horizon as of late, including reports that a national recession could be on the horizon and a push by Clark County commissioners to open new areas for residential and commercial development has been on the forefront.

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