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Agent2Agent in Las Vegas : Real Estate Advice

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  • Local Info240
  • Home Buying1K
  • Home Selling170
  • Market Conditions78

Activity 150
Mon Nov 29, 2010
Jenet Levy answered:
You can take a listing, but whether or not a short sale is an option is a bank decision, not your or the seller's decision. If she just bought another house, I don't see how the bank would see her as being in a hardship situation. She obviously is in a position to be able to make house payments or she wouldn't have qualified to buy the other house. ... more
0 votes 19 answers Share Flag
Sun Nov 14, 2010
Eric Egeland answered:
In my local market selling an REO through the MLS is a better transaction for all parties involved Many of the properties that go to 'auction' after going unsold in the MLS typically were grossly overpriced & were simply not marketable at the listed price. ... more
1 vote 3 answers Share Flag
Mon Nov 1, 2010
Sia Howe answered:
Hello Edgar,

All the answers below are correct. I have a lot of experience with rental properties, and just lke real estate 101, desired location and right price and you will find a tenant. Most condos do need to be pruchased cash and they may have restrictions so you need an experienced REALTOR help you thru the whole process. Visit my website www.HomesBySia.com to search for properties, and to get helpful tips on short sales, REO/forclosures, community info and more.!

Wishing you only the best,

Sia Howe, MIRM, CSP
Prudential Americana Group, REALTORS
www.HomesBySia.com
702.205.3093
... more
0 votes 7 answers Share Flag
Mon Oct 18, 2010
Ed Simpson answered:
Northwest Arkansas like Vegas suffered from an excess amount of homes and price increase when the market was going hot.

I think a cash investor has 1 thing in mind - cash flow which determines the amount of down payment. With market prices still in decline it makes no sense to pull your cash out in the next year or two due to closing cost and risk of depreciation.

Cash buyers may flip on the short term investment of less than year holding period after rehabbing a poor condtion property which returns their cash plus profit without replicated closing costs from a refinance.

Ed Simpson

www.FIrstREALTORS.biz
... more
0 votes 1 answer Share Flag
Sat Sep 18, 2010
Felix Hung answered:
Do not pay for a list.

Here are two free list with over 100 companies:

http://www.bpoaccess.com/

http://www.bpo-companies.com/
0 votes 9 answers Share Flag
Wed Aug 25, 2010
Hoopes and Norton answered:
Great question Felicia: Buyers can be challenging to work with. They have filled themselves up with whats in the news which is usually 60-90 old by the time it hits the paper, the TV and the internet. Some buyers need to be reminded of the laws of supply and demand. Yes, Vegas is a buyers market overall. There is plenty of property to buy (supply) but as you are becoming aware, specific properties (niches) have their own market (demand). I'll bet the experience you describe above was for a property priced at or below $140,000? A buyer should clearly understand that they are "competing" with other buyers on those types of properties. The buyer should understand what deal points they will be competing with and ultimately understand that on bank owned and short sales, bottom line net to the seller is, well...the bottom line. The should understand how to make their offer competitive. When we low-ball an REO that is going to attract mulitple offers... then ask for seller concessions on top of an already low offer... that just isn't going to work. Maybe share with the buyer what the bank's (or short sellers bank's) bottom line would be based on the offer the buyer is making. Yes, show the buyer the comps but also make sure they are aware of what concessions the seller paid in those deals AND what type of financing was utilized by the buyer. CASH is king but it doesn't necessarily mean a low-ball cash offer will be automatically accepted. How does their offer measure up against the comps? Also, master your inital buyer interview techniques. Coach the buyer from the beginning on each type of seller and what they're motivations are. Good luck! ... more
0 votes 17 answers Share Flag
Wed Aug 25, 2010
Hoopes and Norton answered:
Hello Again Carla: I replied to your question previously and wanted to see if you have passed the test and if you have finalized your brokerage choice. Coldwell Banker Premier Realty can help you learn the business and then grow your business. Even if you feel you have made a choice, please come talk to me or any of our managers at any of our 3 Las Vegas/Henderson offices. My phone is: 987-5602. Thank you and good luck. Steve Hoopes, Branch Manager - Coldwell Banker Premier Realty ... more
0 votes 16 answers Share Flag
Sat Aug 21, 2010
Len McGuirk answered:
Hey Sarah!

I just sent you an email regarding my team being built and to see if you have an interest in discussing the business with me. Please send me back a message and we can discuss things.

My company has the largest market share of properties over any other company in the Las Vegas area. There are excellent benefits to working with this company along with plenty of training and great executives!

Hope to hear from you soon!

Len McGuirk
Prudential Americana Group
Cell: (702) 203-6688
LenM@AmericanaGrp.com
... more
0 votes 5 answers Share Flag
Thu Aug 19, 2010
Mark Fleysher answered:
I will consider having you on my team. I already e-mail you the info for the school, let me know if you want me to resend it. Let me know when you start.
0 votes 4 answers Share Flag
Tue Jul 13, 2010
Scott Miller answered:
Hi,

I hope this helps you:

Selling HUD Homes


It's easy to qualify to sell HUD Homes. First, you have to sign HUD's Selling Broker Certification forms. You can do this by following the Broker Registration link on the Management and Marketing Contractors page for your state. You will need to submit the following forms: SAMS 1111 Broker application and the SAMS 1111A Selling Broker Certification. Once this is completed, you can show, advertise, and submit offers on HUD Homes. Upon closing of a sale, HUD pays the broker a commission of up to five (5) percent of the selling price if this was a condition of the offer.

http://www.hud.gov/offices/adm/hudclips/forms/files/1111asam.pdf

GOOD LUCK!

Scott Miller, Realty Associates, Boca Raton, FL
... more
1 vote 1 answer Share Flag
Mon May 17, 2010
Mark Fleysher answered:
Thanks Sam, I signed up on that site and will look into it further when they approve my membership; there's some good stuff on there, just from taking a quick peak, I already signed up with Equator.

Thanks Alma, I found the log in page, but I can't find where to sign up... I did send them an e-mail request.

Yionada... not sure, what's so funny?
... more
1 vote 3 answers Share Flag
Fri May 7, 2010
John Souerbry answered:
It's been awhile since I've agreed with everyone else's answer, but I do on this one. To add... use basic marketing sense when planning your advertising. Look at the property you're selling and create a profile of the potential buyer and advertise where that buyer looks for property. Make use of all the free sites you can, but spend wisely when it comes to subscription and pay-per-listing sites. Focus your precious marketing dollars where they will do the most good. When considering a paid ad, ask the site's advertising department for their visitor demographics to make sure your marketing reaches people that would be interested in what you're selling.
And, of course, always ask EVERYONE who contacts you about your listings (agents and potential buyers) how they heard of your listing. A trend may emerge.
I yield the soap box.
... more
0 votes 5 answers Share Flag
Tue May 4, 2010
Karen Hunt answered:
Hi Shawn,
My husband and I were buying either at the foreclosure auction, short sales, REOs or below market sales. He's a contractor. Keep the renovation time short and the expenses low. Get it back on the market and price it below the CMA so you don't hold on to it and incur the carrying costs. Buy in areas that are desirable, avoid busy streets or funky floor plans. Offer a warranty. Good luck! ... more
0 votes 8 answers Share Flag
Tue May 4, 2010
Shawn Gibson answered:
I've been a Realtor in Vegas for 2 years and have close over 20 transactions. I think that it's the right time. The right company you may ask? Keller Williams Las Vegas. Call me if you are interested. You'll love our profit share program. ... more
0 votes 11 answers Share Flag
Thu Mar 11, 2010
Heather Peck answered:
Jason - Las Vegas is short sale heaven. Out of the properties currently available on our MLS (as of today) 45% are short sales. 79% of the properties in contingent status are also short sales. As an agent with short sale experience, you'd be in good company. You didn't mention whether you're a buyers agent or seller's agent regarding short sales.

The biggest problem with short sales, as I'm sure you're aware, is the length of time it takes to get them closed. So although you'd do fine here in short sales, you will need another income stream to help you while these get closed.

Our market is predicted to remain this way for at least another year if not 2, so if you're waiting for the market to improve in Las Vegas, you'd be waiting for quite awhile. Jump in, the water is full of them.

Good luck on whatever you decide.

Heather Peck
Rosen & Company West
702-595-7380
LasVegasExpert@yahoo.com
... more
0 votes 2 answers Share Flag
Fri Oct 23, 2009
Len McGuirk answered:
Ginger,

I think the VA offers have a harder time getting accepted because of the additional seller non-allowable costs that are required. We all know that the VA appraisals also go through an appraisal review and they can be extremely strict and conservative.

On the flip side to this, I found a flip property about a month ago the day it came onto the market. I wrote an offer for my VA buyer and it was immediately accepted. Granted, there were no other offers to compete with, it was simple timing.

Also, agents and buyers need to stop being afraid of short sales in this market. It is simply impossible to avoid them at the moment due to the lack of inventory. Short sales are probably the easiest deals to get a VA offer accepted as well.
... more
0 votes 2 answers Share Flag
Wed Jul 22, 2009
Fariba Raouf CRS answered:
Hi Darlene

I am specialized to work with out of the country investors.I have a very active and experienced team of agents that work with me ,we are specialized in Commercial , Single family residential and condominums.
We have the strongest brokerage in town with a leagal team at our finger tip.We would love to help you with your client.
Call me 702-296-1883
or buyvegas@cox.net
Fariba Raouf CRS
... more
0 votes 4 answers Share Flag
Fri Apr 24, 2009
Sharon Go answered:
@ Damon - Great story! I'd love to speak with you more about it. Email us your contact information at pr@trulia.com.

I look forward to speaking with you soon!
0 votes 3 answers Share Flag
Thu Apr 16, 2009
Barbara Q. answered:
JUST CURIOUS...Does anyone feel that incentivizing the Buyer's Agent is disingenuous... at some level?

How does a prospective Buyer feel when he learns that his BUYER's AGENT
is steering him toward a certain listing bc HIS AGENT would earn a higher commission
than what's standard in the market?
... more
0 votes 12 answers Share Flag
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