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Las Vegas and Henderson Real Estate Blog

Mark Weinberg

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Displaying blog entries 121-128 of 128

READY TO MOVE?

by Mark Weinberg

 

Myths of listing your home during the winter

 

  • People don’t want to buy homes this time of year.

Number of homes sold has gone from 387 down to 376, (-2%)

 

  • The market is too slow.

Pending properties has increased 7.9%

 

  • Home prices are too low.

Sales price vs List Price has only gone down from 98.3% to 98.1% (-0.1%)

 

  • It is too hard to show my home this time of year

People are very busy this time of year, thus they are out and about more

Many people have prepared their homes for the holidays –decorated, doing baking, entertaining – what better time to show your home?

Average days on the market has gone from 58 to 60 (– 2.9%)

 

Truth is, serious buyers and sellers will buy or sell when they are ready.  Clients can find it a great time to buy or sell, end of school sessions, more time off and great opportunity to get settled before the New Year.

 

As you can see by the graph below the market is still active.

Factors that are important in buying or selling a home are a realtor and a company that are reliable, trustworthy and successful.  When you are dealing with a company that has international exposure and is one of the top firms in North America this gives you a powerhouse of resources.

 

The same is true of a realtor.  A professional realtor has discovered the most efficient way of marketing homes, negotiating contacts and monitoring the market to assess changes that affect his clients.

 

That is exactly why selecting a realtor should be based on his performance, his expertise and his knowledge of the market.

 

Mark Weinberg has a straightforward approach that has given him a successful track record and thriving business.

 

Allow Mark to evaluate your needs and wants, very important call.

 

 

 

 

 

  

WHO IS REALLY SELLING YOUR HOME?

by Mark Weinberg

R BUDGET,

SEEMS LIKE A SIMPLE QUESTION, BUT IN A COMPLEX CHANGING MARKET THERE ARE MANY ELEMENTS THAT CAN AND WILL AFFECT THE SALE OF YOUR HOME.
IS YOUR HOME OVERPRICED?

 
A SUCCESSFUL REALTOR IS JUST THAT, SUCCESSFUL BECAUSE THEY KNOW WHAT IS SELLING AND FOR HOW MUCH!
 WITH THE HIGH LEVELS OF INVENTORY HOW MANY CHANCES WILL YOU GET TO HAVE OTHER REALTORS SHOW YOUR HOME? SOME PEOPLE FEEL, IF THEY LIKE THE HOME THEY WILL MAKE AN OFFER…..THEY MAY NOT HAVE TO, IF THE REALTOR IS LOOKING FOR HOMES THAT ARE REASONABLY PRICED, WHY SHOULD HE SHOW ONE THAT ISN’T?  DO YOU WANT TO TAKE THE CHANCE THAT YOUR HOME IS PASSED OVER BECAUSE OF PRICE?  RISKY!
WHAT IS REALLY SELLING IN THE MARKET TODAY?


IN REALTY THE MARKET MIGHT BE SLOWING DOWN IN CERTAIN AREAS, BUT BOTTOM LINE IS, THERE ARE ALWAYS PEOPLE BUYING AND SELLING HOMES IN EVERY MARKET.  IF THE MARKET IS MORE COMPETITIVE, HAVING A SUCCESSFUL REALTOR GIVES YOU THE RESOURCES OF THEIR EXPERTISE AND KNOWLEDGE, THUS THE UPPER HAND.

YOU AS THE SELLER HAVE THE CHOICE OF WHO LISTS YOUR HOME, BUT DO YOU WANT A REALTOR THAT WILL LIST YOUR HOME OR DO YOU WANT A REALTOR THAT WILL SELL YOUR HOME?

THIS IS ALSO TRUE FOR BUYERS.  ANY REALTOR CAN SELL YOU A HOUSE, BUT YOU WANT TO BUY YOUR HOME THAT FITS YOUR BUDGET, YOUR NEEDS, AND AN AREA THAT YOU WANT.  BUYING A HOME IS A BIG INVESTMENT, BUT THIS IS WHERE YOU WILL LIVE, RAISE YOUR FAMILY AND ENJOY, USE A REALTOR THAT PUTS YOUR INTERESTS AND NEEDS FIRST.

 

 

 

 

The Market is Changing!

by Mark Weinberg

~~HAS THE MARKET SLOWED DOWN?
IS THIS A GOOD TIME TO SELL OR BUY?
IS THE MARKET OVERLOADED?UA
HOW LONG DOES IT TAKE TO BUY OR SELL A HOME NOW?
HAVE THE PRICES “PEAKED” OR ARE THEY GOING UP OR DOWN?

THERE IS FLUCTUATION IN THE LAS VEGAS MARKET A LOT OF THE TIME.  FOR SOME AREAS OF THE VALLEY, HOME SALES HAVE SLOWED OR GONE DONE. THE BIG QUESTIONS IS:
HOW DOES THIS AFFECT ME BUYING OR SELLING MY HOME AT THIS TIME??

TO ANSWER THAT QUESTION YOU MUST CONSIDER SEVERAL FACTORS THAT DIRECTLY RELATE TO YOUR WANTS AND NEEDS.

I WANT OR NEED TO SELL MY HOME – THERE IS A BIG DIFFERENCE! 

THE DECISION TO CONSIDER HERE IS, AM I WILLING TO LOOK AT THE MARKET FROM THE STANDPOINT OF A PROFESSIONAL WHO WORKS IN THIS FIELD FULL TIME, THAT UNDERSTANDS AND IS AWARE OF THE CONSTANT CHANGES – NOT ONLY IN THE SELLING OR BUYING OF A  HOME, BUT THE EVER CHANGING LAWS, RULES AND CONCERNS THAT MAY AFFECT YOUR CHOICES. 
WHEN YOU REACH A CONCLUSION TO BUY OR SELL, CHOOSE A REALTOR THAT WILL TAKE INTO CONSIDERATION THE FEASIBILITY OF THE HOME YOU WANT TO SELL OR BUY, ITS SPECIAL FEATURES, THE PRICE, THE AREA AND THE TIME FRAME THAT YOU NEED TO ACHIEVE THIS GOAL.

BUYING OR SELLING CAN BE VERY STRESSFUL, BUT WHEN YOU CHOOSE THE REALTOR THAT IS WORKING FOR AND WITH  YOU,  WHO IS ACCOMPLISHED WITH A HIGHLY RECOGNIZED COMPANY, HAS PROVEN HIS QUALIFICATIONS BY HIS TRACK RECORD – THAT WILL NOT ONLY HELP YOU ACHIEVE THE GOAL OF BUYER OR SELLING YOUR HOME, BUT WILL ENHANCE THE ENTIRE PROCESS.

MARK WEINBERG IS THAT REALTOR.
MARK HAS BEEN SUCCESSFULLY HELPING BUYERS AND SELLERS SUCCEED FOR OVER 22 YEARS.  HE UNDERSTANDS THE MARKET, STAYS UP TO DATE WITH CHANGES AND DEVELOPMENTS IN REAL ESTATE.
IF YOU ARE SERIOUS ABOUT SELLING OR BUYING YOUR HOME, CALL MARK WEINBERG.
THIS IS A SIGNIFICANT PURCHASE IN YOUR LIFE – USE A PROFESSIONAL!

 

 

 

TIMETO BUY OR SELL

by Mark Weinberg

 
The Las Vegas market is very active.  As you can see by the graph of June 2014, homes are selling and they are selling quickly.  Price your home right and be prepared to move. Berkshire Hathaway offers national exposure and we have more of the market share in the Las Vegas valley than any other real estate company.
As the number 1 agent, I can help you buy or sell your home.  When you want the best job done, you pick someone that has the most experience, success and professionalism.    Take advantage of this opportunity if you are serious about buying or selling your home.
Your home is most likely your biggest investment, safeguard that by having a company and a realtor that have a proven track record.
The length of time you have owned your home, the price you paid for it, the upgrades and the current market conditions in your area will help determine the price you could receive when you sell.  An experienced realtor looks at these factors and can assist you in deciding if you want to sell.  As you can see by the map below the Las Vegas valley is doing well.
If you are interested in buying, a realtor that is very successful will help you in deciding the size of the home, the area and the price range that is comfortable for you.
Overall, the bottom line is – whether you want to buy or sell, you want a powerful, experienced and successful realtor on your side. 

Without a doubt Mark Weinberg has a consistently proven track record, with a company that has national exposure, reliability and is the #1 most respected company worldwide. (According to Barron’s)

Current Market

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Are you comfortable asking and answering the key questions to help your clients make better business decisions?  

1.        If you had “X” dollars to invest in the real estate market in Las Vegas, how would you do it? How would you take advantage of the markets down turn?   

2.        How many clients do you have that you write offers daily regarding buying residential properties in distress?  If your answer is none —this means you have not asked enough people if they would like to purchase property at a greatly reduced price. Now is the time for your clients to rebuild their real estate holdings. Call your sphere! Specialize in an area and price range. You will be surprised on how many people want to learn how they can benefit from the real estate downturn.  

3.        Can you answer these questions based on the area of town that you are most familiar with:

        a.        What would you consider a price per sq/ft steal?

        b.        What would you consider a price point steal?

        c.        What did people pay for these homes or homes like it in 2002?

        d.        How much would it cost to build a home like this today?

        e.        What is the approximate rental income on a home like this in this area?

        f.         Based on today’s interest rates what loan amount would cash flow itself based on the approximate rental income and expenses?   

4.        How many listing presentations have you completed last week on homes that were purchased in 2002 or earlier?  What ever you focus on will be the type of business you drive to yourself. You work hard for your clients to save them money, time and aggravation you need to do the same for yourself.  Know your plan and work your plan!  

5.        Are you dwelling on the problem or are you focused on the solution? Come from strength not weakness. There are approximately 650,000 home owners in Las Vegas, about 850,000 total homes and approximately 27,000 properties for sale. This means there are a lot of people who need your help, advice and expertise to achieve their goals who may not even been thinking of selling or buying a home as of yet.     

6.        Are you staying ahead of the market curve as it pertains to price reductions? If you care be firm and honest. Your clients may not like the news you are delivering them, but it is the truth!  

7.     Are you aggressively staying in touch with your pre-approved buyers? When you have a pre-approved buyer do not let them out of your sight. They need to know you are available 24/7, within reason.  Be aggressive, helpful and informed.  

Prudential Americana Market Share

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Prudential_Market_Share_through_Nov_30.pdf

Selling in Today's Market

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Client’s questions in today’s environment –

1.      What are you going to do to help me sell my home?

2.      Can you share any insight to help me keep my home?

3.      What do I do if my home is not worth what I owe on it?

4.      Are you very familiar with my area?  

5.      I do not know what to believe anymore!  I need to know specifically what to do.  

6.      Buyer - Should I buy now or wait?   

My answer is: 

Would I be correct in stating that your goal is to sell your home and maximize your equity?  If we are going to achieve your goal we must focus on the 4 areas that we control:

1.      The condition of your property – Stage home for sale if needed. 

2.      Access to your property – Key safe on property.

3.      How to position your property to take advantage of the millions of dollars Prudential spends to generate buyer leads – Once we begin marketing your property for sale you begin benefiting from the thousands of buyers leads we generate monthly from numerous sources: multiple websites; color brochures; advertising in Homes of Southern Nevada and Showcase of Homes; Smith and Vons Shopping carts; Green Valley Ranch Movie Theatre and Gold's Gym.

4.      How we price your property in today’s marketplace - make sure to position your client’s property in the Top 3 best priced homes in the area. This will help them:

     a.      Increase the number of showings of their home, and

     b.      Maximizing their net proceeds by staying ahead of the market curve.      

We must be priced to sell or we loose the benefits of A, B, and C.   

First we need to finalize your financing as it will give you leverage with all sellers.  Next I need to know your goals as it pertains to the home you are looking for?  We will then focus on finding the home that best fits your needs, and lastly we will focus on purchasing it at the best possible value taking into account today’s true market value. Do not be discouraged by over priced properties as we have no intention of paying an unrealistic value for any property. I have a lot of homework to do as only about 30 percent of the homes on the market today are properly priced or willing to sell at true market value. The price depends on product type, location, size, amenities, comparable sales, competition, etc. No worries, I will handle each step of the process.  

People ask me all the time if I feel the market has hit bottom or will it continue to dip. It is clear to me that when a buyer buys at today’s true market value they are in great shape. The problem comes in when buyers are comparing the value of a property to its current listed price, as most listed properties are priced much higher then their true market value.   

 

Creative Financing

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 Typically,creative financing, can come in the form of sellers’ ‘carrying back’.  This is not recommended!  It forces the Seller to remain a player post close of escrow.  Creative financing is not for the weak of heart and in no way is as safe as simply selling if you are the seller.  There are potential risks (discussed below) that cannot be overlooked.

First some definitions . . . don’t get too caught up in this; they are boring:

Creative Financing - Any lending that differs from standard industry practices, such as Sellers receiving part of their proceeds in the form of a note and deed of trust.

First Deed of Trust - An instrument [NRS598D Sec040]  that encumbers home property by pledging a security interest in the property for a loan which is in first position (has first priority) above and in front of all other claims against the property, excluding taxes and other government or quasi government liens (bonds, assessments).  Breach is handled by statutory foreclosure. [NRS107 Sec080]

AITD - A promissory note that is secured by a junior deed of trust.  The dollar amount of this junior deed of trust includes the underlying (senior) deeds of trust, and the cash (or equity) owed to the Seller/lender (lent by the by the Seller/AITD lender). Breach is handled by statutory foreclosure. [NRS107 Sec080].

Contract for Sale/Contract for Deed - A contract for the sale of real estate where borrower has possession of the property but the deed (title) of the property is transferred only after all the payments and obligations put forth in the contract have been made or performed by the buyer.  Breach is handled by judicial foreclosure. [NRS040Sec430]

First, if you get the chance attend Prudential®, Americana Group, REALTORS® CE# 2188000 RE -  General.  [Americana Training Catalog].  This class is an introduction to creative financing where you are instructed on the pitfalls of:  All Inclusive Trust Deeds, Assumable loans and Seller Carrybacks to secure a sale.  The foreclosure process is also discussed.

Most importantly, if your Seller position is such that they need to do creative financing, review the Greater Las Vegas Association of REALTORS® “creative financing form“.  This form walks you through the various aspects of what you need to look for such as interest, due dates, collection accounts, etc.  

The major concern is what to do in the event of non-payment.  Foreclosure can be very time consuming and can be arrested if the buyer files bankruptcy.  The seller must be prepared to endure perhaps 6 to 12 months of no payments during a foreclosure.  Furthermore the property may be damaged by the owner.  The Seller has little to no rights to re-enter (unlike landlord tenant relationships where a landlord need only give 24 hour notice) [NRS118A Sec330].

Displaying blog entries 121-128 of 128

Contact Information

Photo of Mark Weinberg, RRG Real Estate
Mark Weinberg, RRG
Berkshire Hathaway Home Services
3185 St. Rose Pkwy #100
Henderson NV 89052
702-493-8000
Fax: 702-317-3421

"Buy Low, Sell High"