GLVAR accomplishes much in 2009 and looks to 2010

It has been my honor to serve this past year as president of the Greater Las Vegas Association of Realtors, the largest professional association in Southern Nevada.

One of the best parts of this position has been writing this column every two weeks. I've enjoyed interacting with Las Vegas Review-Journal readers and hope I've shared some useful information while answering your questions.

This column, like my dealings with peers and the public, has provided further proof that 2009 has been a year of unprecedented uncertainty and challenges for our and national housing markets. We went from setting records for housing price appreciation just a few years ago to leading the nation in foreclosure rates. This downturn has been tough on homeowners, Realtors, home builders and others in our industry and in our community.

Looking back, however, I can honestly say that the disappointments of this past year were far outweighed for me by the rewards and satisfaction that come with volunteerism and service. Consider this short list of GLVAR accomplishments from 2009.

GLVAR addressed the challenge of dealing with bank-owned properties by forming a workgroup of our top experts to educate members and the public. With help from some of the top agents in town with experience in this area, educational publications and online materials were developed for Realtors, buyers and sellers.

GLVAR also took pride in the steady growth of its commercial real estate arm, the nonprofit Commercial Alliance Las Vegas, which continues to gain members and serve as a resource to the commercial real estate industry here.

Realtors also helped homeowners and homebuyers achieve some key political victories this year.

During the 2009 Nevada Legislature, our members worked with elected officials to protect property ownership rights. Realtors also supported several successful candidates who share our values and views on issues, from keeping taxes low to point of sale restrictions.

Nationally, the big boost came in November, when the federal government extended the first-time homebuyer tax credit into mid-2010 and expanded the tax credit to include move-up buyers. This should help home sales and the overall economy.

Through successful golf and bowling tournaments, Realtors raised thousands of dollars for charities such as Child Haven, Safe Nest and Habitat for Humanity, an organization very near and dear to my heart. I can tell you that when you volunteer your time to help build or dedicate a new home, you get back more than you give. It makes you realize the true value of volunteerism and the difference you can make in another's life.

We held toiletry drives to help women and children at the Shade Tree shelter in Las Vegas and adopted Whitney Elementary School, donating truckloads of much-needed food, clothes, school supplies and more to the deserving students there.

GLVAR partnered with the shredding service operated by one of Las Vegas' favorite charities, Opportunity Village, to offer document destruction days for our members.

We also hosted 19 Russian real estate agents, appraisers and lenders. With their interpreter in tow, they toured the GLVAR, met with our members, exchanged ideas and shared their market conditions with us. Our market may be in a slump, but it was a real eye-opener to hear about the 24 percent mortgage interest rate they're dealing with in Russia.

While some of us are eager to close the door on 2009, I find myself feeling fortunate to have learned a few things from it. For better or worse, I think we've all been reminded that market conditions are cyclical. Just as the housing boom we enjoyed earlier this decade couldn't last forever, this downturn will soon subside.

In fact, GLVAR statistics show key indicators are already bouncing back, with stable home prices, fewer homes on the market and home sales soaring compared to last year. I see more stabilization in 2010.

I'd like to thank the Las Vegas Review-Journal for giving me the opportunity to discuss such things. I also appreciate all the questions and comments I received from Review-Journal readers.

Please keep those questions coming in 2010, when Realtor Rick Shelton takes over as GLVAR president and author of this column.

Sue Naumann is the outgoing president of the Greater Las Vegas Association of Realtors and has worked in the real estate industry for nearly 30 years. GLVAR has nearly 13,500 members. To ask a question, e-mail ask@glvar.org. For more information, visit lasvegasrealtor.com. Questions may be edited for space and clarity.