Jennyfer Poveda- Realtor/Salesperson

The purchase or sale of a home or investment property is one of the most complex and significant financial events in peoples’ lives. People typically seek the help of real estate brokers and sales agents when buying or selling real estate because of the complexity and importance of this transaction.

Real estate brokers and sales agents can help you find a home, sell your home, make an offer on a home, help you find buyers, and assist you with paperwork.
Real estate professionals have a thorough knowledge of the real estate market in their communities. They are familiar with local zoning and tax laws and know where to obtain financing for the purchase of property.
Buy and sell residential houses, commercial buildings, industrial property and farmland, property management, mortgage banking, land development, and real estate appraisal.

Richard Humes- Realtor/Salesperson

There are many qualities and skills that go into being an excellent real estate professional – integrity, in-depth community and market knowledge.  Effective negotiation skills and a high-quality professional network are hallmarks of how I work. I have lived in Las Vegas since 2004, am excited about this city and look foward to serving you, your family, friends and associates. I am a Vietnam Veteran, have a Bachelors Degree from the University of Illinois, worked at Caterpillar Inc. for 26 years and operated my own franchised restaurant business.As a Las Vegas real estate professional, I work very hard in putting my clients first.  I continuously strive in keeping myself accessible to you in order to respond quickly to your needs.

So when you decide to buy or sell a home in Las Vegas or the surrounding area, please contact me.

Richard Humes- Realty Boutique
5870 S. Decatur Blvd, Ste 4
Direct:  (702) 466-3352
Fax:  (702) 541-9911
E-mail:  rhumes@cox.net
Web Site:  www.richardhumes.com

Micky Miles- Realtor/Salesperson

Micky was born and raised in Silver Spring Maryland. After graduating from Nasson College in Springvale Maine with a bachelors degree, he remained in Maine and purchased his first home. From this point a love for real estate commenced.

Back to Maryland to care for his aging parents he rented out his Maine home and became a Maryland REALTOR ® and with a flourishing start he met his wife Yana and returned to Maine to start a new life in his old house and became a Maine REALTOR ® for 5 years specializing in 19th century and oceanfront residential real estate.
Long winters and weary of the Northeast Micky brings to Las Vegas 12 years of real estate experience as a full time REALTOR ® with no distractions.
Micky has the ability to build strong relationships on a professional level, with a special talent for working with international investors and overseas buyers, he has a strong following in Canada, Australia, UK and China.
Having a no nonsense take on the Las Vegas real estate barometer you can trust in his loyalty, opinion and experience with real time market knowledge.
Micky is an experienced agent who brings a wealth of knowledge to the residential market. His personality, patience and perseverance give his clients the confidence that their goals will be achieved either buying or selling.

Elizabeth Valles- Realtor/Salesperson

Nickole Bahadori- Office Manager

]]> http://www.sevenzerotwo.com/2012/07/our-team/feed/ 0 http://www.sevenzerotwo.com/2011/06/real-estate-in-crisis/ http://www.sevenzerotwo.com/2011/06/real-estate-in-crisis/#comments Fri, 24 Jun 2011 02:52:24 +0000 admin http://www.sevenzerotwo.com/?p=1436 Read More]]>

The subprime mortgage crisis is hitting the Las Vegas metro area particularly hard. In fact, Nevada has the highest foreclosure rate in the country and the metro area is consistently one of the top five worse in the nation. The crisis jeopardizes further growth by creating an overflow of available homes, which in turn slows the construction of new homes and invariably effects property values. But at the same time it creates opportunities of more affordable housing for those who have been priced out of the market in recent years. The crisis entails homeowners losing their houses after they are unable to afford their mortgage payment. It was brought about by lenders and banks giving risky loans, or subprime mortgages, to people with poor credit scores or finances. Low interest rates first attracted such homebuyers. However, as many loans were adjustable rate mortgages (ARMs), higher interest rates down the road made payments nearly impossible, ultimately leading to foreclosure. Furthermore, predatory lenders have been accused of perpetuating the situation by unfairly taking advantage of uninformed or new buyers. There were a large number of investors who bought homes at the height of the market and expected to flip them for a profit, only to see values decline.

Homeowners associations came into vogue within the late Fifties and early Nineteen Sixties in excessive-growth states such as California, Arizona and Florida as a option to switch municipality prices to homeowners, said Paul Terry, attorney and president-elect of the Group Affiliation Institute.

“Here is the basic problem. The federal government pays for a superb portion of its companies by property taxes and it has priority on taxes,” Terry said. “It would all the time receives a commission 100% of these taxes plus interest. The issue is this municipal function is now transferred to an HOA. How does the HOA get the funding to fulfill that perform? Both from the house owner or from the property itself that benefits from these functions.”

Simply because the county holds a property proprietor responsible in the form of tax liens, the HOA holds the owner accountable with assessment liens, he said. The association is limited to collection of nine months in assessments, whereas government liens are unlimited, the attorney noted.

“So the big rub with this legislation (SB 174) is if an HOA incurs collection prices to collect the lien, are those a part of the 9 months of superpriority liens, that are in front of bank liens?” Terry said.

The greed issue surfaces when investors don’t need to pay their fair share, he said.

Lawsuits in opposition to more than 500 homeowners associations in Las Vegas Valley are driven by buyers looking to “flip” properties for a fast profit, Terry said. Most of the group affiliation’s 1,000 members are the goal of these lawsuits.

Judges in three separate District Courtroom cases all concluded that assortment costs and “cheap” lawyer fees for unpaid HOA assessments are included in superpriority liens, Terry said.

However, critics of SB 174 say the prices are a lot larger than the quantity of delinquent assessments. Some assessments have gone from a pair hundred dollars to $5,000 and extra with collection fees.

“There have been some abuses, no doubt,” Terry said. “The (Fee for Frequent Interest Communities) carried out an investigation for the Legislature and produced regulations that specify what are reasonable prices and so they put a cap on it at $1,950.”

If the liens aren’t paid, the HOA can file a discover of default and begin foreclosure proceedings, although lower than 1 percent of properties go to foreclosures, stated David Stone, president of Nevada Association Services, a group agency for HOAs.

Terry mentioned you have to take a look at how householders received to the point of foreclosures with assessment liens. They ignored a number of notices. No affiliation sends assessments to collection till they’re 60 days delinquent, he said.

Pat Taylor, principal of Taylor Association Administration and CAI president, mentioned it’s the homeowner’s responsibility to offer a correct mailing deal with, reply to correspondence and speak to management.

“Step as much as the plate with responsibility. Do not blame people making an attempt to implement the foundations,” she said.

Rutt Premsrirut, an actual property agent who represents investor clients, said Nevada ought to observe the lead of North Carolina. Lawmakers there unanimously authorized a invoice Wednesday that will restrict the power of homeowners associations to foreclose on property house owners because of unpaid dues or assessments.

The measure would require dues or assessments to stay unpaid for 90 days before an association might start foreclosures against a property owner. Among other provisions, the bill would additionally require the association’s government board to vote to start any foreclosures proceedings against an owner.

Lawmakers who spoke about the invoice stated they’ve obtained complaints from members of homeowners associations about foreclosure actions taken by the associations. They stated they believed associations have grow to be too powerful and that extra protections should be in place for members.

It’s completely different from the “double dip” reported by the national media and reveals nothing more than the historic volatility of housing costs, Sambucci stated throughout a 40-minute webcast.

The analyst said he “respectfully disagrees” with statements made by David Blitzer, chairman of the Customary & Poor Case-Shiller Index broadly used as a measuring stick for home prices. Blitzer stated residence costs “continued their downward spiral with no relief in sight.”

Many of the knowledge used in the Case-Shiller index is three to 6 months within the “rearview mirror,” Sambucci said. He is seeing a seasonal uptick in actual-time costs that most likely will not show up in Case-Shiller’s index until late summer or early fall, he said.

The “catfish restoration” is a much better description of the market, Sambucci said.

Catfish spend their time shifting slowly alongside the underside of lakes and rivers, coming up and down from place to position and not using a clear route, he said. They’ll swim to the floor to eat and then return to the bottom.

“Plan for costs over the long term to hit a backside, rise a bit, sink back down, rise again — a pattern we anticipate with the housing market for several years,” Sambucci said. “The housing recovery will take a very long time and it will occur slowly.”

Could numbers are showing signs of power available in the market, as did March and April numbers. Costs are rising in all 20 cities tracked by Altos Research except New York and Las Vegas, which experienced only reasonable declines.

The firm showed Las Vegas with a median home price of $one hundred forty,598 in May, a decrease of 0.seventy six % from the previous month and down 1.ninety two p.c during the last three months.

The brand new Altos Mid-Cities Composite can also be exhibiting signs of energy in markets throughout the country. This composite examines an alternate set of smaller metropolitan statistical areas across the country to counter the volatility seen in larger, largely coastal cities in the Case-Shiller index.

“Volatility is what we’re speaking about within the catfish recovery,” Sambucci said. “Watch housing identical to other assets. You’re not going to get one, two, three, 5, 10 or 15 years of growth. You’re going to get volatility and discovering that inflection level is the chance to make money.”

Those who say strong job positive factors are needed to bolster housing are considering backward, stated Quinn Eddins, director of research for New York-primarily based RadarLogic.

The majority of jobs created through the housing increase disappeared when the market collapsed and builders stopped building new homes. Competition from distressed property gross sales are preserving housing starts near historic lows.

The problem is the huge provide of homes already in foreclosures or on their means, Eddins said.

“It may take years for the inventory of distressed properties to be absorbed and for costs to stabilize to the point where new development is deemed to be a worthwhile endeavor,” he said. “As such, sustained and sturdy job creation won’t happen within the construction sector till the surplus provide of properties is absorbed and homebuilding resumes in a sustained and strong manner. And even then, not all of the building jobs misplaced in the nice recession will return.”

Moderately than watch for job development, watch the banks for an actual measure of when the housing market hits bottom, Eddins said. They know the depth of stock overhang as a result of they personal most of it.

Banks acknowledge that present dynamics counsel additional declines in value and are requiring bigger down payments. When banks begin lending eighty five percent loan-to-value versus 70 % or 75 %, that might be an excellent sign that they either feel comfy with the market or they are going to have figured out a new approach to handle the risk.

Sambucci said he is seeing extra larger-end properties move by the real estate-owned inventory, which is an effective sign.

Pricing of recent listings has been accelerating quickly since spring and the price of listings being absorbed additionally moved higher, one other good sign for the market, he said.

“Usually you assume costs will transfer up within the spring and this is the first time in 4 years we’ve seen that development,” he said. “This information is not captured in lagging knowledge indices out there.”

We're sorry, but we couldn't find MLS # 1058622 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

We're sorry, but we couldn't find MLS # 1076114 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

We're sorry, but we couldn't find MLS # 1071484 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

Las Vegas, NV 89109 (MLS # 1030795)

Number One Selling Tip – The Multiple Listing Service
You are not hiring a Realtor to put a sign on the lawn, an ad in the paper, and hold an open house. You can do this yourself. You are hiring a Realtor to provide you with maximum exposure to the greatest number of qualified buyers for your home.

Supply and Demand

You’ve heard of supply and demand? The more potential buyers at your supply, the higher a price you can demand.

The absolute number one tip I can give you to help you get the most money possible for your home is this: make sure you get full Multiple Listing Service (MLS) coverage.

Don’t look at any offers until you are sure your home is on the MLS computer.

I will say this again…

Don’t look at any offers until you are sure your home is on the MLS computer. An army of Realtors at your disposal can’t be beat.

Dump any Realtor that tries to tell you to put your house on exclusive (only his/her company) or wants you to negotiate offers before it gets on MLS.
Dump any Realtor that wants to list your house on a Friday and have a public open house the following Sunday. There is not enough time to get your home on the system.
I do not care how good a Realtors marketing plan is, it is worthless compared to the value of having your home on the MLS system. Think of it this way. Realtor = home on MLS = most Realtors = most buyers = most money.

Is the first offer the best offer?

There is a saying in real estate. The first offer is usually the best one. This is only true, if everyone knows it’s for sale.

Real estate surveys in my area showed the owner lost an average of $2000. when their house was sold by the same office or Realtor that listed their home. The reason…the offer was written before any one else knew it was for sale.

MLS Comes First

Ask any realtor you are contemplating dealing with, what the order of their marketing plan is. If submitting to the Multiple Listing Service is not the first thing they are going to do, look for another realtor.

If you took away every selling tool I had, and said I could only have one of them back, I would choose the MLS service. This is not a commercial for MLS. It is just the best weapon Realtors and the public have for getting maximum exposure on property..

MLS is a strong selling tool,…use it… It will make a difference on your bottom line.

You’ve been out house hunting for weeks and you’ve done all your research and now you want to put in an offer to purchase the home of your dreams. So how much do you offer the seller?!! And is it really how much you offer or how you offer it?

Reasonable Market Price

Before doing anything else you need to know what a reasonable market price is for the home you hope to buy. Have your real estate agent run a Comparable Market Analysis for you on similar homes that have sold in the last year in your target neighborhood. Although an appraiser will only use the last six months of comparable sales when figuring appraisal value, it is helpful to have a more overall trend for the neighborhood to determine that prices are rising and that your investment will be protected in the long run.

To arrive at a reasonable market price you and your agent will be comparing the condition, location and amenities of similar homes that have already sold plus the current market competition of other homes for sale in the area.

Your Price

Then you must figure out what YOU are willing to pay for this home. If you are willing to pay market value or more for this home because you don’t want to risk losing it, please let your agent know up front! Most good agents will try and negotiate a below market sales price for you because they want to please you and retain you as a future client. But only you can determine how you might feel if you lost this home to another buyer for a few thousand dollars!!! If you want a deal be sure to tell your agent that, but if you want only this home, tell your agent that too! His negotiating tactics will depend heavily on this information.

“My friend (or family member) sells real estate.”

Friendship alone isn’t enough to establish a professional’s credentials. Use tough standards when selecting an agent, just as you would when hiring an attorney, a doctor, or an accountant to handle your taxes. A true friend will understand and appreciate that this is a business decision and will offer their credentials and expect to compete for the listing. Besides, if a problem or challenge develops while selling your home, do you want to risk damaging a friendship or family relationship?

“Your presentation sounds good. I’ll list right now”

Look at more than one presentation and consider the advantages and disadvantages of each. Making an impulsive decision when caught up “in the moment” could be difficult to correct later. Since you normally contract to list your house with the agent for a specific period of time, you may find yourself unable to “switch” to another if you find yourself unhappy with the service you receive.

“You’re the only agent who agrees with my selling price.”

Some agents tell you what you want to hear. In the real estate profession, this is known as “buying a listing” and is employed by shortsighted agents who are more interested in themselves than they are in you. However good it works as a short-term “sales tactic” in getting your listing, it is an extremely poor strategy in selling a home at the highest possible price.

You see, your house gets the most attention from other agents when it is a “new” listing. If priced properly, lots of agents will show it to their buyers. If you price it too high, no one will show the house and it will sit on the market for some time. When you finally drop your price to reflect its real value, your house is “old news” and buyers may think you are growing desperate. Therefore, the prices you are offered will come in lower and lower – and you may find yourself accepting a price that is below what you could have received had the house been priced properly to begin with.

Besides, pricing your home too high will only make similar houses for sale look that much better. Overpricing helps sell those houses, not yours.

“I don’t need references. I’m a good judge of character.”

A snap judgement isn’t good enough. You also need to determine if the agent is competent and the best way to do that is to check up on references. Ask for references on recent sales — check up on references of recent customers. Find out how an agent’s customers feel about their selling experience.

Remember that how long an individual has been in real estate isn’t necessarily all you should look for. Experienced agents can grow jaded and not work as hard – newer agents sometimes make up with enthusiasm and effort what they lack in experience.

“I’m going to list with the agent who has the lowest commission.”

You get what you pay for. Paying a cut-rate commission will often get you a sign in the front yard and placement in the Multiple Listing Service, but little additional effort from your agent.

Realize that agents and real estate companies put up their own funds to market and advertise your home. Marketing and advertising costs money — the lower the commission, the less incentive for an agent to put up his or her own money to market your home.

Incentive plays a very important role in sales. A “full service” agent earning a full commission will often “drop everything” to handle any challenges that come along – an agent earning a small commission does not have that same incentive.

Incentive is also important to the buyer’s agent. Since there are almost always two agents involved in every sale, they split the commission according to the listing agent’s instructions. One agent is your listing agent. The other agent is the buyer’s agent. When your listing agent dropped his commission, did he also reduce the commission that will be paid to the buyers’ agent? If so, you won’t find as many agents willing to show your house – they’ll be showing houses that offer a customary commission to the buyer’s agent.

Finally, negotiating ability is an important skill in a listing agent. Are you willing to put your faith in an agent who can’t even negotiate his or her own commission?

“The agent is what counts – not the company.”

Agents who work for large well-established companies with lots of agents do have some advantages. Large companies generally have longer office hours, so someone is always available to answer an ad call on your home. Large offices often have larger budgets and can spend more on advertising. The ad space for your particular home might not be huge, but because the total ad is so large it gets lots more attention.

Large real estate companies often have lots of agents. This is important because when your house is newly on the market, the company may stage an “office preview” where every agent in the office comes through and tours your home. Every agent who views your home and is impressed is another agent on your sales team.

Additionally, larger companies are often better at offering ongoing education to their agents. As a result, your agent may be better qualified and prepared to offer a quality service. Although most states require real estate agents to enroll in “ongoing education” to keep pace with changes in the real estate market, many agents only take the “bare minimum” in ongoing education courses. Sometimes, large offices are better at convincing their agents to go beyond the minimum.

There are exceptions to every rule, of course. Some very effective agents go off on their own and open private offices or “boutique” agencies.

“All realtors passed the same test so they must know the same things.”

The real estate profession is constantly changing and, as mentioned above, the best real estate professionals stay abreast of those changes by continuing their education. Some go beyond the required minimum requirements. Many agents acquire “professional designations” that show they took additional specialized courses.

“This agent will hold an open house every week.”

Open houses can and do sell homes, but usually not your home. Only a small fraction of the homes held open are sold as a direct result of the open house. More often, “open houses” are a way that real estate agents “prospect” for potential clients. If they develop a rapport with those visitors to your open house, they can find out about their housing needs and sell them the home that most closely matches those needs. Meanwhile, the person who eventually buys your home may be visiting someone else’s open house.

Good agents know better than to pin all their selling efforts on an open house. They use their time in more effective marketing methods. The most effective marketing is not directly to the public, but to other agents. By getting other agents interested in your home, your listing agent multiplies your sales force beyond just one individual.

“I want an agent who lives in my neighborhood.”

Knowledge of the local market isn’t only acquired by living in the immediate neighborhood. Sure, your agent should have intimate knowledge of recent sales, models, schools, businesses, and so on, but that is easily achieved through extensive research. Convenience shouldn’t be the primary reason for choosing an agent.

“This agent sold more homes last year than anyone else.”

That should only be the beginning. What is more valuable — an agent who listed 32 homes and sold 25 – or an agent who listed twelve homes and sold all twelve? So you need to ask some questions. How many of their listings did not sell? How many were reduced over and over before they sold? How long were the houses on the market? How smoothly was the process handled? How accessible was the agent when there were questions or problems?

Quantity is important, but only if all of the quality questions have been answered satisfactorily.

Conclusion
The best agent is the one who will do the most effective job of marketing the property, negotiating the most favorable terms and conditions, and communicating with the seller to make the process as smooth as possible.