Las Vegas Review Journal Real Estate Headlines for 3/28/2018 to 4/27/2018:

California real estate firm buys Las Vegas apartment complex

Texas homebuilder buys its 2nd Las Vegas project site

Las Vegas homebuilders thriving amid ‘buying frenzy’

Once-rundown Las Vegas office complex is spruced up and on the market

Median Las Vegas home prices edge up to $280K

The Mercer opens as Las Vegas luxury rental complex

Texas homebuilder is expanding to Las Vegas

Senator wants better approach to Southern Nevada affordable housing

50 years after MLK assassination, housing equality fight continues

​Illegal short-term rentals remain a problem in Las Vegas Valley

Las Vegas apartment rents rising faster than national average
​

It is awesome to see Vegas thriving again and with so much positive economic growth both happening and on the horizon! If you would like to discuss any of these topics in more details or if we can be of any assistanc epleasse reach out to us! Enjoy your weekend!

9332 Best Las Vegas, NV 89178 will be listed for $319,999
UNBELIEVABLE 2 BED, 2.5 BATH W/OPEN FLOOR PLAN! CONTEMPORARY DESIGNER TRILEVEL, FORMER MODEL HOME FULLY UPGRADED!  KITCHEN INCLUDES GE PROFILE APPLIANCES, GRANITE COUNTER TOPS, AND UPGRADED CABINETS. SLATE & BAMBOO FLOORING THROUGHOUT HOME.
6.1 DOLBY DIGITAL SURROUND SOUND IN BASEMENT AND FAMILY ROOM, W/ INTERCOM/BABY MONITORS ON EVERY FLOOR & ROOM! DO NOT MISS THIS ONE!

Coming Soon Listing in the Southwest Part of the Las Vegas Valley!

It is not listed on the MLS yet but we can get you in to see it before your buying competition if you contact us today. We are waiting on the professional photos to come back from our photographer and then this beauty will be listed on the market.This home is a must see and it will sell within days once it hits the market. 
​
CONTACT THE ADAMS TEAM AT ROTHWELL GORNT COMPANIES TODAY FOR A PRIVATE SHOWING!

With the market still having a massive shortage of homes for sale and demand through the roof, buyers are having a hard time finding deals. Many times buyers are out bid time and time again making the process very frustrating. We are here to HELP!

We would like to talk to the buyers out there about our new listing we have coming to the market. Be the first to get information on these listing and if you like to be the first to schedule a private showing. If you need a lender to assist you with your financing please let us know as we work with some of the best lenders in town and would be happy to connect you with them.

If you are not on our buyer's list please email use and request to be added. We will email you the details of each home to see if it is a good fit for you. Start the buying process HERE

OpenDoor, OfferPad, Zhomes, Knock, UpNest and a dozen other new listing alternatives are trying to disrupt the real estate industry by providing new processes and alternative listing services for sellers to sell for a discount in exchange for convenience, almost like trading in a car. I am all for new options for consumers but with these new processes, consumers need new regulation to protect them from predatory buyers especially when the buyer is a very well-funded corporation that is much more informed on the processes, fees, values, negotiations, documentation and representation than the everyday homeowner. These companies are the buyer and therefore looking out for the buyer’s interest. It is not in the buyer’s best interest to disclose how much the seller is leaving on the table. Sellers need to be diligent and get their "Net Proceeds to Seller" from a Realtor as well as their "Net Proceeds to Seller" from other alternative listing services and then make an informed decision.

​These alternative listing services and others vary in fee structure, processes, and representation per company, but for our example today we are going to focus on OpenDoor.com's fee structure, process, values, documentation and representation per the information provided on their website and other public websites (See Sources section below).

Large corporations have a duty to be fair with the consumers. OpenDoor is a very large corporation with around $500,000,000.00 (after a $110,000,000.00 investment from Lennar, the largest home builder in the country) backing them to find undervalued deals from uninformed homeowners by distracting them with convincing and confusing fee structures and enticing home sellers with the benefit of convenience.

While they claim the deal is transparent, they are not fully disclosing to homeowners how much money the homeowner is leaving on the table, or as I call it the "Cost of Convenience". Below is a side by side comparison of not only the fees, but also the sales price difference. Pay most attention to the bottomline that shows the Estimated Cash Before Close / Net Proceeds to Seller, this is what the seller would walk away with using both processes OpenDoor or similar service and with a Realtor.

Robert Adams started as a real estate investor in 2002 and is now the Team Lead for The Adams Team at Rothwell Gornt Companies in Las Vegas, NV as well as the Team Lead for The Adams Team at Sankey Real Estate in MA and RI. He and his team members have closed over 500 transactions and is Licensed in NV, MA, and RI.  For a free, no obligation estimate to sell your home with a Realtor please click here.

Disclaimer: The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of the Rothwell Gornt Companies or it's Broker. Examples of analysis performed within this article are only examples. They should not be utilized in real-world analytic products as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of the Rothwell Gornt Companies or it's Broker.

Sources:

1. *Home Value: We used the price that Opendoor would relist the home for after buying it from the seller, or rather what the seller could have listed it for themselves should they have chosen to put it on the market.
2. **Offer Price: 5.75% is the difference between OpenDoors average Offer Price vs the Price they relist it for on the market. "...Opendoor customers sold their homes at an average discount of 5.75 percent off what Opendoor had listed the properties for on March 17. These stats are based on the 11 Las Vegas-area listings that appeared on Opendoor’s website on March 17." - Teke Wiggin | Inman News ​https://www.inman.com/2017/03/22/opendoor-cost-markup-fee-las-vegas/
3. ***Service Charge per OpenDoors website and my conversation with them on Facebook: "Dec 2017 average Opendoor service charge. Charge varies for each property and can range from 6-12%." https://www.facebook.com/OpendoorHQ/videos/10155323211712647/?comment_id=10155330717157647&notif_id=1521495746511062&notif_t=comment_mention&ref=notif
4. **** Commissions: Realtor Commissions are negotiable and maybe be less than 6%.
5. *****Repairs costs with OpenDoor: See Opendoors Better Business Bureau customer reviews for a Las Vegas customer that was charged $2,500 for repairs. I have read many reviews that range from $2,000 to $3,000 for repair credits paiid from Sellers to OpenDoor. https://www.bbb.org/greater-san-francisco/business-reviews/real-estate/opendoor-in-san-francisco-ca-539425/reviews-and-complaints ​
6. *****Repair Costs with a Realtor: In Las Vegas (like most markets) we have a record breaking shortage of homes for sale and there is no reason for sellers to pay for repairs. It is very common for sellers to sell their home in "As-Is" condition right now. http://www.lvrealestatehelp.com/blog/robert-adams-explains-how-to-get-your-offer-accepted-in-this-hot-sellers-real-estate-market ​​

Please see the updated blog post about these alternative listing services HERE

Please see the updated blog post about these alternative listing services HERE
​

32 Sadler Shore Henderson, NV 89012

OPEN HOUSE SATURDAY THE 21ST AND SUNDAY THE 22ND FROM 10AM TO 2PM. Join Rebecca Conrath from The Adams Team at Rothwell Gornt Companies this weekend to take a tour!

I CAN'T WAIT TO SHOW YOU THIS BEAUTIFULLY UPGRADED HOME WITH AMAZING CITY VIEWS!!!

Located in one of the most sought after zip codes in all of Vegas and Henderson! Built in 2016 this home is practically brand new....ONLY BETTER! Why better? because it has window covering, landscaping both in the front and rear yards, all upgraded appliances, additional upgrades like bathroom hardware and light fixtures that builders just don't provide. This home has its own private roof deck with unobstructed views of the Las Vegas Strip!

CONTACT THE ADAMS TEAM AT ROTHWELL GORNT COMPANIES TODAY FOR A PRIVATE SHOWING!

Report provided by:
Scott Reynolds
Branch Manager/Loan Officer 
NMLS 245013 | Branch NMLS 348986

8945 W. Russell Rd. Ste. 210
Las Vegas, NV 89148
Office:702-269-4364
Mobile:702-274-9000
[email protected]
www.evergreenhomeloans.com/ScottReynolds
  
 
For the week of April 16, 2018 — Vol. 16, Issue 16
>> Market Update
QUOTATION OF THE WEEK..."I've got all the money I'll ever need, if I die by four o'clock." --Henny Youngman, English-born American comedian
INFO THAT HITS US WHERE WE LIVE... Fannie Mae's latest Home Purchase Sentiment Index reports more people say now is a good time to buy--and more also say now is a good time to sell. Happy Spring!
Pew Research Center reports the number of multigenerational households hit an all-time high in 2016. Homes with two or more adult generations grew to 20% of the population--64 million people--according to Census Bureau data.
It's terrific to see the Department of Housing and Urban Development (HUD) award a record $28 billion to help nine states, Puerto Rico and the U.S. Virgin Islands recover from last year's disasters. 
BUSINESS TIP OF THE WEEK... When prospects give you their contacts, get back to them as soon as you can. Studies show response time is the biggest factor determining whether a contact becomes a workable lead or a missed opportunity. 
>> Review of Last Week
ROLLER COASTER UP... After two years of calm growth, the stock market went volatile in 2018. The S&P 500 has moved up or down more than 1% six weeks in a row. Last week the ol' Wall Street roller coaster climbed back up.
Trade war worries eased as Chinese President Xi Jinping said he plans to "significantly" cut tariffs on imported automobiles, reduce duties on other goods and improve foreign firms' intellectual property rights. Welcome to The Art of the Deal, Mr. Xi. 
The Mideast got tense, but nothing happened by market close on Friday. Analysts say Q1 corporate earnings will be solid and inflation is trending up, so economic strength should keep the Fed on track for two more rate hikes this year.
The week ended with the Dow UP 1.8%, to 24360; the S&P 500 UP 2.0%, to 2656; and the Nasdaq UP 2.8%, to 7107.
Bonds were held down by surging stocks and rate hike concerns. The 30YR FNMA 4.0%, bond we watch ended the week down .32, at $102.27. National average 30-year fixed mortgage rates held steady in Freddie Mac's latest Primary Mortgage Market Survey. Remember, mortgage rates can be extremely volatile, so check with your mortgage professional for up-to-the-minute information.
DID YOU KNOW?... More than a million cars were flooded in last year's hurricanes. When buying a used vehicle, be sure to have it checked for water damage.
>> This Week's Forecast
RETAIL SALES HEAD UP, SO DOES HOME BUILDING... Analysts expect healthy Retail Sales growth again in March. Likewise, home building should come in with higher Housing Starts and Building Permits. We'll also check the Beige Book's take on economic conditions in each Fed District.  
>> The Week's Economic Indicator Calendar
Weaker than expected economic data tends to send bond prices up and interest rates down, while positive data points to lower bond prices and rising loan rates.
Economic Calendar for the Week of Apr 16 - Apr 20

DateTime (ET)ReleaseForConsensusPriorImpa
Apr 1608:30
Retail SalesMar
0.4%-0.1%HIGH

Apr 16
08:30
NY Empire Manufacturing IndexApr
20.022.5Moderate

Apr 16
10:00
Business InventoriesFeb
0.6%0.6%Moderate

Apr 17
8:30
Housing StartsMar
1.268M1.236MModerate

Apr 17
08:30
Building PermitsMar
1.315M1.298MModerate

Apr 17
09:15Industrial ProductionMar
0.3%1.1%Moderate

Apr 17
09:15Capacity UtilizationMar
77.8%78.1%Moderate

Apr 18
10:30
Crude Inventories04/14NANAModerate

Apr 18
14:00Fed's Beige BookMarNANAModerate

Apr 1908:30
Initial Unemployment Claims
04/14
226K233KModerate

Apr 19
08:30
Continuing Unemployment Claims
04/07
NA1.871MModerate

Apr 19
08:30
Philadelphia Fed IndexApr
21.022.3HIGH

Apr 19
10:00
Leading Economic Index (LEI)Mar
0.4%0.6%Moderate


>> Federal Reserve Watch
Forecasting Federal Reserve policy changes in coming months... Almost everyone thinks the Fed won't raise rates in May, but will go for the year's second hike in June. Note: In the lower chart, a 1% probability of change is a 99% certainty the rate will stay the same.
Current Fed Funds Rate: 1.50%-1.75%
May 21.50%-1.75%
Jun 131.75%-2.00%
Aug 11.75%-2.00%
 
Probability of change from current policy:
May 2         1%
Jun 13       99%
Aug 1         7%

This e-mail is an advertisement for Scott Reynolds. The material provided is for informational and educational purposes only and should not be construed as investment and/or mortgage advice, or a commitment to lend. Although the material is deemed to be accurate and reliable, there is no guarantee of its accuracy. The material contained in this message is the property of Evergreen Home Loans and cannot be reproduced for any use without prior written consent. This message is intended for business professionals only and is not intended for distribution to consumers or other third parties. The material does not represent the opinion of Evergreen Home Loans. © 2018 Evergreen Home Loans is a registered trade name of Evergreen Moneysource Mortgage Company® NMLS ID 3182. Trade/service marks are the property of Evergreen Home Loans. All rights reserved. Licensed under: Alaska Mortgage Broker/Lender License AK3182 and AK3182-1; Arizona Mortgage Banker License 0910074; California Licensed by Department of Business Oversight under the California Residential Mortgage Lending Act License 4130291; Idaho Mortgage Broker/Lender License MBL-3134; Nevada Mortgage Banker License 3130; Oregon Mortgage Lending License ML-3213; Washington Consumer Loan Company License CL-3182.
UID10555337

8745 Sherwood Park Las Vegas, NV 89131 - For Sale $359,111
4 Bedrooms | 3.5 Bathrooms | 2 Car Garage | 2,897 sqft | 5,227 sqft lot | Completely Remodeled

Original owner just remodeled this beautiful 4 bedroom, 3.5 bathroom home with upgraded stainless steel appliances, new flooring throughout, new paint throughout, new quartz counter tops and more! You will have plenty of living space with just under 3,000 sqft in the home sitting on a .12 acre lot. Enjoy this quiet NW location with no neighbors behind the property.
​
CONTACT THE ADAMS TEAM AT ROTHWELL GORNT COMPANIES TODAY FOR A PRIVATE SHOWING!

32 Sadler Shore Henderson, NV 89012 - For Sale $375,000
OVER 2,300 SQFT | 3 BEDROOMS | 2 MASTER BEDROOMS | 4 BATHROOMS | 2 CAR GARAGE

I CAN'T WAIT TO SHOW YOU THIS BEAUTIFULLY UPGRADED HOME WITH AMAZING CITY VIEWS!!!
Located in one of the most sought after zip codes in all of Vegas and Henderson! Built in 2016 this home is practically brand new....ONLY BETTER! Why better? because it has window covering, landscaping both in the front and rear yards, all upgraded appliances, additional upgrades like bathroom hardware and light fixtures that builders just don't provide. This home has its own private roof deck with unobstructed views of the Las Vegas Strip!

CONTACT THE ADAMS TEAM AT ROTHWELL GORNT COMPANIES TODAY FOR A PRIVATE SHOWING!

​4 Bedrooms | 3.5 Bathrooms | 2 Car Garage | 2,897 sqft | 5,227 sqft lot | Completely Remodeled

Original owner just remodeled this beautiful 4 bedroom, 3.5 bathroom home with upgraded stainless steel appliances, new flooring throughout, new paint throughout, new quartz counter tops and more! You will have plenty of living space with just under 3,000 sqft in the home sitting on a .12 acre lot. Enjoy this quiet NW location with no neighbors behind the property.

​It is not listed on the MLS yet but we can get you in to see it before your buying competition if you contact us today. This home is a must see and it will sell within days once it hits the market. 
​
CONTACT THE ADAMS TEAM AT ROTHWELL GORNT COMPANIES TODAY FOR A PRIVATE SHOWING!

With the market still having a massive shortage of homes for sale and demand through the roof, buyers are having a hard time finding deals. Many times buyers are out bid time and time again making the process very frustrating. We are here to HELP!

We would like to talk to the buyers out there about our new listing we have coming to the market. Be the first to get information on these listing and if you like to be the first to schedule a private showing. If you need a lender to assist you with your financing please let us know as we work with some of the best lenders in town and would be happy to connect you with them.

If you are not on our buyer's list please email use and request to be added. We will email you the details of each home to see if it is a good fit for you. Start the buying process HERE

Are you an uninformed home seller giving away your home to Opendoor, Offerpad, Up Nest, Zhomes etc???? I certainly hope not, because you are most likely giving them THOUSANDS of your hard earned dollars.

Please see the updated blog post about these alternative listing services HERE

BEFORE YOU SELL WITH ANY COMPANY ASK THEM "HOW MUCH MONEY WILL I WALK AWAY WITH?" AND THEN COMPARE THAT TO A TRADITIONAL REALTOR SALE.

I confronted them on a public post of Opendoor on Facebook, you can see for yourself how it went below
​(after my question about them charging 19% they stopped responding): 
HERE IS THE ORIGINAL POST

The largest home builder in the country Lennar just invested $110,000,000.00 into Opendoor!!! That's right so now when you walk into a Lennar home site and are touring the models the sales agent there (who works for Lennar and not you the new home buyer) will tell you how awesome Opendoor is and how you should go sell your home to Opendoor because of how hassle free it is. Here in Vegas we have a shortage of homes for sale and about 15 buyers for every listing. They usually sell within days, so how much hassle could it possibly be to sell your home?

Stop giving away your hard earned money and equity to these greedy companies and call us today for a FREE and ACCURATE valuation of your home as well as a FREE estimate of what you will walk away with. If you see the bottomline and still choose to sell with Opendoor or a similar service then atleast you will be making an educated decision! Please share this with your friends and family before they get taken advantage of. 

Sellers CLICK HERE to get your home's value and free estimate of all fees, so you can see what you would walk away with.

Read the full article here: 
​​https://howmuch.net/articles/salary-to-afford-the-average-home-in-your-state

Q1 of 2018 Sales Volume: $7,704,944.00
(not including any rental deals)

# of Closed Transactions:
18 Buyers Deals✔
10 Sellers Deals✔
8 Renters Deals✔
2 Rental listings Deals✔
2 Out of town referrals Deals✔
40 Total Closed Deals

Need to buy, sell or lease? Call or text 702.349.9175
​
#LVrealestateHELP 
#TheAdamsTeamatRothwellGorntCompanies

4 Bedrooms | 3.5 Bathrooms | 2 Car Garage | 2,897 sqft | 5,227 sqft lot | Completely Remodeled

Original owner just remodeled this beautiful 4 bedroom, 3.5 bathroom home with upgraded stainless steel appliances, new flooring throughout, new paint throughout, new granite counter tops and more! You will have plenty of living space with just under 3,000 sqft in the home sitting on a .12 acre lot. Enjoy this quite NW location.

​It is not listed on the MLS yet but we can get you in to see it before your buying competition if you contact us today. We are waiting on the professional photos to come back from our photographer and then this beauty will be listed on the market.This home is a must see and it will sell within days once it hits the market. 
​
CONTACT THE ADAMS TEAM AT ROTHWELL GORNT COMPANIES TODAY FOR A PRIVATE SHOWING!

With the market still having a massive shortage of homes for sale and demand through the roof, buyers are having a hard time finding deals. Many times buyers are out bid time and time again making the process very frustrating. We are here to HELP!

We would like to talk to the buyers out there about our new listing we have coming to the market. Be the first to get information on these listing and if you like to be the first to schedule a private showing. If you need a lender to assist you with your financing please let us know as we work with some of the best lenders in town and would be happy to connect you with them.

If you are not on our buyer's list please email use and request to be added. We will email you the details of each home to see if it is a good fit for you. Start the buying process HERE