REAL ESTATE BRIEFS
Change in business
April 23, 2010 - 11:00 pm
Change in business
Real estate firm to operate as part of new corporation
Better Homes and Gardens Real Estate LLC announced the addition to its brand network of a Las Vegas-based real estate firm, which was named a national top 200 power broker by RISMedia. RE/MAX Associates, with offices in Las Vegas and Henderson, will now operate as Better Homes and Gardens Real Estate Desert Properties. With this affiliation, the Better Homes and Gardens Real Estate network expands into Nevada and adds two offices and 150 agents to its national franchise network.
Better Homes and Gardens Real Estate Desert Properties will continue to operate under the direction of Rick Shelton, corporate broker.
“Las Vegas is an important market that is poised for growth after being hit hard by the recent downturn, and Rick Shelton has been a visionary in guiding his highly talented team to capitalize on growth opportunities,” said Sherry Chris, president and CEO of Better Homes and Gardens Real Estate, LLC.
Shelton is president of the Greater Las Vegas Association of Realtors. He also is a member of the Board of Directors for the Nevada State Association of Realtors, and a member of the Board of Directors for the National Association of Realtors.
“I believe that the future of our industry will be led by the thinking embodied by Better Homes and Gardens Real Estate because they represent a new approach to a changing marketplace,” Shelton said. “Home buyers and sellers have access to more information than ever before and they need the resources of a network that has a full command of the tools necessary to help them make an informed decision.”
Better Homes and Gardens Real Estate LLC is an international real estate brand that offers a full range of services. For more information, visit bhgrealestate.com.
CALV and RMI team up to clean up graffiti in park
April is Graffiti Awareness Month in Nevada and real estate professionals from the Commercial Alliance Las Vegas and RMI Management LLC, are teaming up to clean up graffiti in Winterwood Park on the east side of Las Vegas today beginning at 10:30 a.m. Dozens of volunteers are expected to volunteer their time, including CALV President Robin Civish and other members of CALV’s board of directors, along with employees and executives from RMI.
With help, paint and supplies from Clark County, volunteers and their families will paint over all the graffiti as part of the shared commitment of both organizations to maintain local neighborhoods and improve the quality of life in Southern Nevada. The park is located at 2200 Winterwood Blvd., near Sahara Avenue east of Nellis Boulevard.
The CALV is the commercial real estate division of the Greater Las Vegas Association of Realtors. For more information, visit calv.org.
RMI Management is one of Southern Nevada’s largest full-service community association management firm. RMI employs more than 525 people, representing more than 75,000 homes. For more information, visit rmillc.com.
Henderson to host Foreclosure Prevention Workshop
Homeowners in Henderson who are faced with the possibility of foreclosure can find resources at the Foreclosure Prevention Workshop. Hosted by the city of Henderson Neighborhood Services Division, the workshop will be offered April 28 from 4 to 8 p.m. at the Henderson Convention Center. Participation is free.
“Henderson has always focused on providing the programs and services our residents need,” said Mayor Andy Hafen. “At a time when families are continuing to struggle with foreclosure and financial difficulties, we’ve worked hard to bring together the resources they need to find help.”
Henderson residents will have an opportunity to speak one-on-one to lenders, Housing and Urban Development-certified counselors, foreclosure mediators, real estate agents and federal representatives. Sponsored by the Nevada Bankers’ Collaborative and Greater Las Vegas Association of Realtors, the workshop will enable homeowners to gain information on how to save their homes and fight fraud.
“We’ve assembled a great group of agencies that can provide answers for our residents needing assistance,” said Barbara Geach, acting manager of neighborhood services. “Ultimately we want to see our neighborhoods remain safe, vibrant and active. We hope homeowners will get the information they need to save their homes.”
In order to better assist homeowners, they are encouraged to bring copies of documents listed at cityofhenderson.com.
For more information contact Heather Rosich, city of Henderson Neighborhood Services at 267-2026 or 239-5455.
Nevada Housing Division receives letter of recognition
The State of Nevada’s Housing Division’s Weatherization Program was recently issued a letter of recognition for accomplishment and effort by the U.S. Department of Energy. The Housing Division, an agency within the Nevada Dept. of Business and Industry, was awarded under the American Recovery and Reinvestment Act $37,281,937. This money was to go towards weatherizing 5,539 units by March 2012.
“As of April 5, 2010, the Division’s Weatherization Program has provided weatherization assistance for 1,570 residential units,” Charles L. Horsey, administrator for Nevada Housing Division, said. According to the Department of Energy, Nevada’s completion rate rests only behind three other grantees: Idaho, West Virginia, and South Carolina. Nevada currently resides in the 90th percentile for rate of completion.
The DOE recognized Nevada’s efforts as a commendable accomplishment for the State. According to the DOE, for the past three months Nevada has been exceeding their production quota by 162 percent, 129 percent and 186 percent for the months of January, February and March of 2010.
Currently, the Department of Energy has disbursed $18,640,968 to the State of Nevada’s Housing Division. Of this disbursement, $6,617,143 has been spent for weatherization projects.
The Nevada Housing Division’s Weatherization Program was established in 1977 to assist low income persons reduce their utility bills by providing for various energy conservation measures and improve their dwelling’s energy efficiency through DOE’s approved measures.
More information regarding qualifications and service providers in your area can be obtained by going to the Nevada Housing Division’s Web site at nvhousing.state.nv.us.
GLVAR helps 1,000 Realtors earn short sale designation
More than 1,000 local Realtors have become designated in handling short sales and foreclosures since the Greater Las Vegas Association of Realtors began offering courses four months ago.
GLVAR President Rick Shelton said this Short Sales and Foreclosure Resource designation, or SFR for short, has “generated a huge response” from GLVAR members who recognize that short sales and foreclosures are driving the local housing market.
“The number of members who’ve earned this voluntary designation in such a short time shows that local Realtors are keeping up with the demands and trends of our housing market and making sure they’re educated about how to handle these complex transactions,” Shelton said. “Ultimately, this sort of continuing education is another reason for people to work with a Realtors.”
The GLVAR course is called Short Sales and Foreclosures: What Real Estate Professionals Need to Know. It was specifically designed to show how real estate agents can serve as a resource for sellers and buyers of distressed properties. It recognizes that current economic conditions have led to increased mortgage defaults, foreclosures and short sales — which occur when a home sells for less than what the borrower owes on the mortgage.
According to national delinquency surveys from the Mortgage Bankers Association, the percentage of mortgage defaults and home loans in foreclosure reached an all-time high of more than 12 percent in the first quarter of 2009. Realty Trac, a firm that monitors foreclosure activity, has found that Southern Nevada has one of the nation’s highest foreclosure rates in recent years.
Shelton said short sales and foreclosures present a number of challenges for real estate agents. In short sales, these include long timelines, increased documentation and multiple approvals. In foreclosures, they include dealing with properties in disrepair and a lack of inventory in some markets.
“We need to continue playing a valuable role in helping homeowners and homebuyers navigate these transactions,” he said. “This, in turn, is helping the housing market recover.”
The local representative of the National Association of Realtors, GLVAR is the largest professional organization in Southern Nevada.
Nevada Contractors Association to hold luncheon
The Nevada Contractors Association, a nonprofit industry group, will hold its quarterly membership luncheon June 22, at the Rio All-Suites Hotel Casino Convention Center, 3700 Flamingo Road. The event starts at 11:30 a.m. It marks 15th anniversary of the association. For more information, call 222-0320.