Kelley hands column to new GLVAR president

I've had so many good and memorable experiences during my year as president of the Greater Las Vegas Association of Realtors. But few have been as educational or as rewarding as this column. I've truly enjoyed writing it and answering questions from homeowners, my peers in the real estate industry and the general public.

I suspect 2013 GLVAR President Dave Tina will have a similar experience next year when he takes over for me in writing this column and in leading Southern Nevada's largest professional organization.

Like me, he is a longtime local Realtor who also has experience working in other parts of the country.

He has a diverse background in public service that goes well beyond real estate. He once owned a successful restaurant in Long Island, where he also worked as a Realtor. He spent 18 years working as a police officer and firefighter in New York before moving to Las Vegas in the 1990s.

Besides being the elected president of GLVAR for 2013, Tina is the managing broker of Urban Nest Realty in Las Vegas.

So, besides being a successful Realtor and business owner with great insight into issues related to the local housing market, he's certainly experienced at putting out fires.

This experience will likely come in handy as he addresses hot topics. For instance, I suspect he'll be fielding some of the same questions I've been receiving in recent months about what may happen after Dec. 31, when the Mortgage Forgiveness Debt Relief Act is set to expire unless Congress extends it.

If Congress does not extend this law by Tuesday (this act had not been extended by press time), 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.

This could significantly affect our housing market here in Southern Nevada, where short sales now account for nearly half of all existing home sales.

Before I turn this space over to my successor, I want to thank everyone at the Las Vegas Review-Journal, especially R-J Real Estate Editor Lyn Collier, for giving me and GLVAR this opportunity to interact with you.

I also want to thank all the readers of this column. After all, I wouldn't have much to write about if you didn't send me so many good questions.

Throughout the year, you've asked me about everything from aid for distressed homeowners to downtown redevelopment, from our spike in short sales to our shrinking housing supply. You've certainly kept me on my toes.

Please keep those questions coming when Dave Tina takes over, starting with his first column on Jan. 12. As always, send your questions to ask@glvar.org.

Kolleen Kelley is the 2012 president of the Greater Las Vegas Association of Realtors and has worked in the real estate industry for more than 30 years. GLVAR has nearly 11,000 members. To ask a real estate question to incoming President Dave Tina, email ask@glvar.org. For more information, visit www.lasvegasrealtor.com.