LVAM - November/December 2015 - Issue 12 by Las Vegas Agent Magazine

November/December 2015

A Very Merri Perry

ALSO INSIDE:

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CONTENTS Created Exclusively for the Las Vegas Real Estate Agent

Hopeful Helpful Leadership: Tis the Season

JC Melvin PUBLISHER

Melodie C. Miller

COPY EDITOR

Melanie Cardano ceditor@LVAgentMagazine.com

Amber De La Garza

To Purchase or Lease That Is the Question? Scott A. Trombley

publisher@LVAgentMagazine.com

Lisa Gouveia art@LVAgentMagazine.com

PHOTOGRAPHY

Jamie Thomson jlthomson85@gmail.com

f r om s Las Veggaazine A ge n t M a

Leading in Networking Events Brett Figueroa

What Is a “No Fee” Mortgage? Rick Piette

Holiday Giving

25 20 28 30

Thinking About Installing a Pet Door? Mike Klimek

GRAPHIC DESIGN

Santa-Approved Methods to Eliminate Holiday Stress

COVER STORY

A VERY MERRI PERRY

Las Vegas Agent Magazine is distributed bi-monthly, via U.S. Mail to Realtors® in the Las Vegas Valley. We welcome reader correspondence and are always looking for the best possible content to offer our subscribers. Please send all comments, suggestions and inquiries to Publisher@LVAgentMagazine.com Las Vegas Agent Magazine assumes no responsibility for, or endorses the thoughts expressed or advertised. No portion of Las Vegas Agent Magazine may be reproduced without the written permission of the Publisher. All rights reserved.

LAS VEGAS AGENT MAGAZINE: 702-530-5033

Housing Statistics

Newsletter

at least 1 per quarter so you always have something to look forward too.

L U F E HOP L U F P HE L

P I H S R E D A LE Tis the Season

By: JC Melvin

s we enter the Holiday Season and participate in the various annual ceremonies which occupy specific dates on our calendar, we recognize the closing of another year is upon us. Is it just me or have you noticed, the older we get, the faster our planet seems to complete its full revolution around the sun? As leaders and heads of households and companies, we have to be conscious that this time of year brings on both good news and bad news for our co-workers, friends and families. The bad news may be the realization that some of the goals and commitments which they entered into at the beginning of the year are not going to happen. It could be weight or fitness goals which were either never really started or faltered after a poor plan or no plan whatso-ever. It could be school or work goals that slipped away or financial goals or achievements that were not met. It could also be relationship goals or dreams that have slipped by another year without the attention they deserve and require. In any event, we know that there exists a certain amount of ‘end of year’ blues in all of us as

these realizations come to the forefront. The good news is that the annual ceremonies such as Thanksgiving, Hanukkah, Christmas, holiday parties and New Year’s, to name a few, tend to lift our spirits and provide for emotional bonding with our peers and sphere of influence. One misconception is that most suicides occur during the holidays and it turns out that’s not true. The fact is that most suicides occur in April and May and, not surprisingly, Monday is the most popular day of the week by far. Another important fact for our consideration is that all the disappointment noted above from the current year’s failures get new hope as a new year is approaching. The most important fact, however, is the understanding of why the failures occurred in the first place. ANSWER: It was poor planning or no real planning. So, leaders from all walks of life, let’s share a simple way for all of our friends, family (even kids) and co-workers to achieve their dreams in 2016. Let us provide a truly hopeful and helpful formula to follow that they can measure as the year progresses month by month and quarter by quarter.

LAS VEGAS AGENT MAGAZINE | November/December 2015

First: Let go of this year’s failures and don’t beat yourself up, the year’s over or just about over and there is no value in continuing to feel bad over it. Second: Re-evaluate what you want to achieve in 2016 and put time markers on the various steps along the way. Third: Be REAL about how many new habits you intend to create in 2016. A person should only work on one new habit at a time, track it on its own calendar and be aware the average time to create a new habit is 66 days. Fou r t h: Lay out you r calendar: I like my Google calendar and also like to see the whole year pinned on my office wall at home. I buy the “At-A-Glance” Yearly Planner from the office supply store. Fifth: PLUG in all vacations FIRST. YES, that’s correct. You may already know the dates of your company convention, the NAR convention, family vacations and weekends you’ll likely take off during the year. I like to book a two week slot in summer time for our big vacation, and multiple extended weekends which may include a holiday Monday or Friday for short get-a-ways (4-6 days). In any event, there should be

Sixth: After vacations, plug in the trainings, conventions, office meetings and other times you need to set aside. December is a great month to create your annual calendar. (I have had next year’s on my wall since late August.) Seventh: Now it’s time to reflect on the goals and new habits you’ve decided on for 2016 and plug in the work times necessary to achieve those things. This would include lead generation, active follow-up, taking listings, working with buyers. In other words, all your “A” time activities. Then plug in some “B” time (direct preparation for “A” time). Eight: Lastly, tweak the calendar, leave room for lunch every day, exercise every day, time to think every day and agree, in your mind, to eliminate the time wasters you no longer want in your life. Hopeful leaders help to inspire others to be all they can be. They empower others and provide encouragement and guidance along the way. A s we c omplet e t h is revolution around the sun, let’s help all those in our sphere to be hopeful about their upcoming rotation. Let’s buckle up and have a blast, it’s a GREAT ride! JC Melvin is the founding dean of the N VA R a n d the GLVAR Leadership Programs. JC is an international speaker and Certified Trainer for “The ONE Thing” Workshop. He is the Corporate Broker for KW Realty Southwest in Las Vegas. For more info on “The ONE Thing” or to schedule a program, friend him on Facebook or email to: jc@jcmelvin.com. 702.595.5024

TO PURCHASE OR LEASE THAT IS THE

QUESTION?

By: Scott A. Trombley

Should I purchase or lease? That is a question many vehicle buyers ask themselves. There are some who do nothing other than lease and some who will only purchase. Then there are those who do not know what they should do. There was a time when leasing left many with a bad taste in their mouth, and for good reason. Payments are always a consideration for a consumer unless they are paying cash for their vehicle. Many lease companies used to do what is known as an open end lease. You could adjust your monthly payment by simply adjusting the residual (future value) of the vehicle. In so many cases, the adjusted residual value was less than the current market value of the vehicle at time of lease end. Where the issue came in for the consumer is that they were responsible for the future value of the vehicle. This left many consumers in the precarious position of owing more than the vehicle’s value. With an open end lease just as a purchase, the consumer was responsible for lease payment and the residual value of the vehicle. Times have changed. Leases have become much more consumer friendly. Most lease companies do what is called a closed ended lease. That is a lease where the residual value is guaranteed by the lease company. In other words, the consumer is not responsible for the future value, the lease company is. Should you decide to purchase the vehicle (one of four options at the end of lease term) at the end of your lease and the balance due is greater than the vehicle’s value, you simply walk away and the lease company loses the money, making a lease far more consumer friendly. As mentioned, the consumer has four options at lease end. (1) You may purchase the vehicle for the residual value that was set at lease inception. This is a viable option if the vehicle is worth at least what the residual value is and you want to keep the vehicle. (2) You may use it as a trade in if there is equity. That is if the vehicle is worth more than the residual value. (3) The vehicle can also be sold just as if you purchased the vehicle. This is a great option if the vehicle’s retail value is greater than the residual value. When this option is exercised, you get to keep the profit for yourself. (4) You can simply walk away from the vehicle and give it back to the lease company. The best deal is a deal where all the players have a positive outcome. A vehicle transaction is no different. Everyone, the consumer, the dealer and the manufacturer all have an advantage when you lease a vehicle.

LAS VEGAS AGENT MAGAZINE | November/December 2015

Consumer: Typically a lower payment with a shorter term. No concern about the trade value in the future. Fits into the average trade cycle. Under warranty all or the majority of the time. If driving more than average miles, the miles will cost less. You pay for high miles one way or another even if you paid cash for the vehicle. With many lease companies, gap insurance is part of the lease. The least expensive way to drive the vehicle for the time you have it. Little to no money out of pocket. Wear and tear forgiveness that does not affect the future value. Lease end options, Purchase at the end, trade, sell or walk away. Tax savings, you only pay taxes on the monthly payment. Higher customer satisfaction. Dealer: Leasing has a significantly higher retention rate. Promotes Higher CSI. It helps sales staff build a book of business, promoting retention. Helps dealer project sales. Warranty work in service. Quality trade of off lease vehicle in the future we originally sold and serviced. Do not have to deal with future trade issues. Builds a great relationship with the customer due to higher CSI building a loyal customer base. The dealer gets paid the same, lease or purchase. Factory: • Helps the factory with projected sales for the number of vehicles they need to build, based on average lease retention statistics. • Loyal customer base. • Many vehicles are purchased by the dealer, limiting the number of vehicles at auction. This improves re-sale value, building brand value. For most folks, the average trade cycle is approximately 38 months. They never keep the vehicle the full term of the loan. Making a lease fit into the average trade cycle. When negotiating the next vehicle purchase, it seems the trade is very often an issue. You don’t get what you owe for the vehicle, leaving you in a negative equity position. This is alleviated with a lease, since the future value is guaranteed. Most people want to pay the least amount possible for a vehicle for the time they have it. This makes a vehicle lease a very viable option, especially when you consider lease payments, in most cases lower than a purchase payment. There are typically many questions people have about leasing. Please feel free to direct any questions you may have when trying to decide. Scott A. Trombley has 28 years of experience in the automotive business, having begun his career washing vehicles as a kid and has since held every position possible in the automotive retail industry. Scott’s father is a retired UAW worker, so Scott literally grew up in the car business, and in Detroit! Now a resident of Henderson, NV., Scott happily hangs his hat at Findlay Automotive Group, which is still a family owned, local business, since 1961. Please contact Scott at 702-558-2600 or strombley@findlayauto.com.

November/December 2015 | LAS VEGAS AGENT MAGAZINE

WHAT IS A

MORTGAGE?

Understanding Mortgage Loan Pricing By: Rick Piette

he mortgage industry evolved after the Second World War. As the U.S. population grew, so did the demand for housing. The vast majority of homebuyers lacked the funds to buy a home for cash, so they financed that purchase by using a financial instrument known as a mortgage. Initially, most mortgages were made by Savings & Loans. These were institutions specifically chartered to serve the average American as a place to save and secure loans. That changed in the 80’s when the “savings & loan crisis” hit and banks and mortgage banks stepped to the front of the home lending scene. From the 80’s until just last year, the mortgage industry was operating “pretty much the same.” Some set their rates a little higher, some a little lower. It was common practice for a borrower to pay a 1.00% Loan Origination fee (and other assorted junk fees) in order to obtain a mortgage. The years 2007-2009 saw the blow-up of the financial system as we knew it. In response to that, two U.S. Legislators, Barney Frank and Christopher Dodd wrote “The Financial Reform Act for America” – more commonly known as the Dodd-Frank Act. That act set up certain regulations which went into effect in January of 2014. One of those regulations, called the “3% Cap Rule,” put a concrete limit on how much a lender can charge you to obtain a “Qualified Mortgage.” This 3% Cap is the maximum amount that can be earned by a lender in “disclosed fees.” That does not mean that all lenders have the same interest rates! Interest rates and loan fees are two separate and distinct aspects of a mortgage loan. In a simple explanation, interest rates are set daily (or hourly) by entities in the secondary mortgage market – FNMA, FHLMC, FNMA, etc. These entities establish a “Par Rate” for the day which they publish to all lenders nationwide. That’s where the differences between lenders starts! This published ‘par rate’ includes a fee for servicing the loan, called the “Service Release Premium” or SRP. From that par rate, a lender can take their rate down, thereby reducing their SRP income, or they can increase the rate, giving them more income from their SRP. This income from SRP is “non-disclosed income” which borrowers never see and it is not included in the 3% Cap rule. Is there such a thing as a “true NO Fee Mortgage”? And if so, how is that made up? Let’s take a look. Let’s suppose that a loan was made today at a 4% interest rate. In rough numbers, the end

investor will end up getting a 3.50% return on their capital. The other .50% will go to the Servicer of the loan and so that Servicer will make .50% of interest monthly for collecting the payment from the borrower and dispersing the funds. A “true No Fee Mortgage,” in this example, would bear an interest rate at the daily par rate of 4% - and there would be No Fees for the loan. This would typically be the case if you were doing the loan with a Mortgage Broker. This is because a Mortgage Broker “CAN NOT” earn any undisclosed income. And a Broker cannot earn income from two sources, such as from the lender and from a borrower. A Mortgage Broker will normally charge No Fees to the borrower, but they will get a check from Title at closing. Brokers earn their income the same way that Real Estate Brokers are paid their commissions – with a check from Title after closing. The Broker receives their compensation from the lender that they broker the loan to – and charge nothing to a borrower. Banks and Mortgage Bankers are commonly still charging origination fees for their loan products. So, go back to our example. Let’s say that the same loan we discussed above, at an interest rate of 4% was being made by a Mortgage Banker and that Mortgage Banker was charging a 1.00% Origination Fee and $900 in processing/underwriting/junk fees. Could that lender also create a No Fee mortgage? The answer is “yes!” They can create a No Fee mortgage by increasing the interest rate – a practice called “Premium Yield,” which means that the Loan Servicer, the entity that you pay your monthly payment to, earns extra income (premium) when they collect your loan payment. This premium income is generated because the end investor (in our example) is going to still earn the same 3.50% return. But now, the Servicer is earning extra premium interest due to the higher interest rate. If that same loan is now made as a No Fee with an interest rate of 4.25% - then the servicer earns .75% monthly interest from that loan. Because of this .25% increase in monthly income, the Servicer will pay a “Premium SRP” to the originating lender. This premium payment gets the Mortgage Banker back their Origination Fee plus any junk fees. But no one ever sees this because SRP is “undisclosed income.” How do you know if your buyer is getting the best deal on their loan? Simple – the next time that you get a loan estimate from your Loan Officer, ask them for a “Rate” that has “No Fees.” Then get a No Fee quote from another lender. By using this technique, you’ll be comparing apples-to-apples. Then, “it’s all about that rate.”

Rick, a long time native of Southern Nevada and of the mortgage industry, currently owns and is Broker of Premier Mortgage Lending, with offices in Henderson, NV. In his career in the mortgage business, he has held the positions of Loan Officer, Manager, Vice-President, Sr. Vice-President… and now, is an Owner/Broker. The full-service lender is a member of the Las Vegas and Boulder City Chamber of Commerce, Better Business Bureau, the Southern Nevada Homebuilders Assn., and was recently honored as the “2013 Affiliate of the Year” by the Greater Las Vegas Assn. of Realtors. He enjoys many outdoor activities including mountain climbing, skiing, backpacking, Harley rides, and river running. For more information, please call Rick Piette of Premier Mortgage Lending at 702-485-6600 or visit www.PremierMortgageLending.com. Premier Mortgage Lending, NMLS #393282.

LAS VEGAS AGENT MAGAZINE | November/December 2015

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Thinking of a By: Mike Klimek

hen pet owners move into a new home, one of the priorities is installing a pet door. There are a lot of considerations for the installation. First, make sure you buy the right door. The easiest to install are doors made specifically for going through a wall. When you cut a hole in an exterior wall, you will have insulation to contend with. These kits have pieces that span the opening from drywall to stucco. They also keep the insulation in place, as well as give the door a clean appearance. Some people buy pet-door kits made for installing into a door, and then build a box to slide into the hole in the wall. This is OK so long as you use a material that will stand up to the weather and the pet. A laminated material, such as melamine, works well. Cutting a hole in your house is scary. The idea is to place the opening in a spot that is convenient for you and your pet, yet does not run into electrical cables, plumbing, and other hazards.

Look at where outlets run and where switches are located. If you are placing a large pet door between two outlets, you will likely find an electrical cable (you may be OK if your pet door is small and is located low on the wall). Generally, a safe place is near a door, but not so close that you will run into the door frame. Use a stud sensor and mark the locations of the studs. You also want to avoid areas under windows. There will be more lumber in the way under the window openings, so find another spot. When you find a potential spot, you can cut a small access hole in the drywall and take a peek inside to see if there is a cable present, or you can mark the template on the wall and cut away. If you do run into a cable, you will need to route it around the pet door. This is a matter of installing junction boxes and running the cable up and over the pet door opening. If you cut the opening in between studs, you won’t need to frame the opening (unless the pet door manufacturer specifies

so). If you have to cut through a wall stud (avoid this if possible) then you should frame the opening and install a header in the opening to support the stud you had to cut. Most doors will easily fit in between studs, so just position it correctly and avoid all the extra work. Generally, the pet door is installed so that the pet’s shoulder is level with the top of the door. Make sure the template is level and trace around it. Use a drywall saw and cut shallowly to avoid cutting through a cable. Use a utility knife and cut through the insulation so that the opening is square and clear of debris. You want the opening on the outside of the wall to be identical to the opening on the

inside of the wall. Drill holes at the corners of the exterior side of the wall to match the location of the corners on the inside of the wall. Mark lines to connect the holes. Use a circular saw with a Carborundum blade to cut through the stucco and wire, and then a saw to cut through the wood sheathing. You should be left with a nice hole in the side of your house. Like I said earlier, if you didn’t buy a wall kit, you can build a box out of melamine and fit it to the hole. If you do have a wall kit, assemble the pieces and push it into the opening in the wall. Simply connect the two trim pieces with flaps on either side of the box and screw the whole mess together. After everything is nice and tight, caulk around the perimeter of the trim pieces to hide any gaps.

Mike Klimek is a licensed contractor and owner of Las Vegas Handyman. He has written hundreds of newspaper columns and magazine articles regarding home repair and remodeling and has been published in Southern Nevada Home & Garden Magazine, Finishing Touches Magazine, Zip Code Magazines, and Real Estate Success Magazine. He has written a weekly column for the Las Vegas Review-Journal & Sun since November 2000. Watch for Mike’s regular column here and in the Las Vegas RJ.” He can be reached by email at: questions@pro-handyman. com or by phone at (702) 896-0000.

LAS VEGAS AGENT MAGAZINE | November/December 2015

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Santa-Approved

Methods to Eliminate

HOLIDAY STRESS

By: Amber De La Garza

Do you cringe each year when you first hear holiday music playing in the department stores? It can be like a sparkly red and green flashing alarm going off in your brain saying Oh no! It’s that time again – time for holiday parties, shopping for presents, house guests, traveling, decorating… The holiday season is supposed to bring cheer and happiness but for many people, it is synonymous with stress and chaos. With the deadline of Chrismahanukwanzakah quickly approaching, the to-dos multiply exponentially and may leave you fearing you will

December for as long as I can remember but last year, I decided not to. Shopping for the ingredients, spending days making the sugary goodness, cleaning up the mess, and delivering the candy all over town, again for days, was just too time consuming and not a high priority, so I eliminated Candy from my task list last year and it felt so good! The holidays bring many, many more tasks to your daily life. The increased workload with unsurpassable deadlines is not unlike many large projects at work and in your business. Here are two tips you can implement today to make the holiday season or any sizable work project less stressful and chaotic. 1. Make a List and Check it Twice Santa Claus creates a list every year, for naughty and nice children, and so should you. Creating a task list forces you to get all of your to-dos out of your head and enables you to decide which tasks need to be done. The others can wait. Take a complete inventory of your tasks by creating a list, prioritizing them, and realistically planning when you are going to complete them. I recommend making two columns as Santa Claus does, but instead of Naughty and Nice, title them Need To Do and Would Like To Do. 2. Eliminate

never have enough time to get everything done. It’s no wonder already busy people have come to dread the scent of pine cones and chiming of sleigh bells. Stress and chaos often come from the feeling of having too much to do combined with the uncertainty of getting it all done in time. Can you relate? I used to have an ideal of what activities our family needs to do, what the house needs to look like, how large our holiday meal needs to be, and how perfect the gifts for our family and friends need to be. What I never planned on was how high my stress would be! I finally determined the root cause of my stress, eliminated it, and no longer dread the holidays. Sound nice? All I had to do was stop using the word that instantaneously put the weight of the universe on my shoulders so freely. Need. Needing to complete all of those projects meant putting an incredible amount of unnecessary pressure on myself. I didn’t need to do all those tasks, just the ones of utmost priority. I rarely use the word “need” during the holiday season now and instead use the phrase “would like” more often, allowing ample wiggle room. Stress eliminated. Last year, during the holiday season, I was working on a few demanding projects in my business so I decided to cut back and only do the things I “would like” to do. I made candy every

LAS VEGAS AGENT MAGAZINE | November/December 2015

Delete or Delegate! As the story goes, Santa has three main priorities – making a list of naughty and nice children, checking it twice, and delivering gifts (or coal) to children. Everything else is delegated to the elves! This is an important lesson we can all learn from. Deleting items from your own task list that can easily be completed by someone else is essential to freeing up time to spend on your most important activities. This reigns true in your personal and professional life. Productivity is not about getting it all done! It’s about investing your best time into your best activities so that you can achieve your goals and vision of success. Whether you are preparing for the holidays or a project at work, making a task list, prioritizing, delegating, and eliminating are strategies that work! Focusing on only what you need to do will result in less stress, less chaos, and a holiday season you can actually enjoy with your loved ones. If you would like more time maximizing tips, visit TimeMaximizers.com for a free Time Maximizer Resource. Amber De La Garza, The Productivity Specialist, works with business owners and entrepreneurs who are ready to transform the way they work so they can reduce stress, maximize time, and grow their business. Amber provides her clients with precisely what they need – the best in productivity training and consulting to meet their maximum potential and accomplish their goals. For more information or to reach Amber: 702-527-2307 or Amber@TheProductivitySpcialist.com.

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Cheryll Acevedo

Andrea Hall and Rick Piette

LIFE, ALL IN

Las Vegas-based Premier Mortgage Lending’s philosophy is to live life to its fullest FIVE YEARS AGO, Premier Mortgage Lending was founded on a simple philosophy. Put together the best and most experienced group of mortgage professionals in town - and provide super-service to our Realtors and Homebuilders. Today, Premier Mortgage Lending has become one of the largest Mortgage Brokers in the state, and the “go to” source for both Real Estate Agents and new homebuilders. Owner, Rick Piette says, “a company is only as good as the people who work there, and I’m happy to say that I have put together the best staff of mortgage professionals in my career.” Management of Premier is handled by Rick Piette and Andrea Hall. Rick is a long-time veteran of the mortgage industry and is extremely active as an affiliate member of the GLVAR. Andrea has 20+ years of mortgage lending experience and has been the

Dianna Herra

Operations Manager at Premier since the company started. The origination staff includes three of the most talented and respected Loan Officers in the business today. Cheryll Acevedo, originally from Brooklyn, New York, has been in the mortgage industry for nearly 30 years and has regularly been “Top Producer” at her prior companies. Dianna Herra, a Boulder City resident, has over 20 years of mortgage experience and is perpetually one of the highest producing Loan Officers in the state of Nevada. Sydnee Johnson started in the business in 1985 in Cedar City, Utah. After moving to Las Vegas, Sydnee became one of the highest volume producers ever in the state. Add to the management and production staff some of the best Loan Processors in town, and

Sydnee Johnson

you’ve got an unbeatable team! The common thread amongst the entire team at Premier is that they are passionate about their jobs, are always looking for way to do things better and faster...and “love” what they do. From our Team to you we say “give us a try” – we will do our best to exceed your expectations. Paid Advertisement

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LEADING IN NETWORKING EVENTS By: Brett Figueroa

Can you say “gold mine”? Can you say “more networking contacts and sales than anyone can ever possibly imagine”? Can you say “no-brainer”? Networking organizations offer an opportunity to meet some very important people and shake hands with some of the most affluent in your city. This is an opportunity to give back. Recognizing that giving back is the determining factor in the quality of one’s life. Give back little, get back little - simple. Most go to networking functions to get and not to give; they have it mixed up. When you go to take or get, your identity is being built and established as that of a taker. When your identity gets shaped and molded into that of a taker, it’s quite difficult to shift. If you go from taker to giver, others get suspicious that you are up to something. Just give and create the opportunities that arise when you give. What do you give? What are networkers networking for? Leads. Leads provide sales, and sales provide money, and money is what the networker is after. The bottom line: the networker is networking with people, so that those people can provide the leads to generate the sales to make the money to satisfy bills, expenses, overhead, vacations, and a 401K. When you satisfy the core need that puts the networkers there, networking becomes a breeze and fun. Most seem to go undercover and are still living out the old childhood concept of being seen, not heard. They are seen at those networking functions, yet not heard, and most tend to believe that it takes about three to six months to get heard. What a shame. You must separate from the herd to be heard, and giving immediately separates you. The high-octane key to effective lead giving is to listen closely to what each of the networkers do for a living. Then look into your mental Rolodex and give names and numbers of people you know

in business. As an example, let’s say Jane sells printers, and you know a businessman, Jim, in Florida who uses printers and who is possibly in the market for a new printer. I do not assume that just because Jim has a printer that Jim is happy with his printer. Who am I to determine whether Jim is in the market for a printer? Let Jane figure that one out. Who am I to determine whether my friend with a family of five has enough life insurance? Let the insurance person figure that one out. Who am I to determine that, just because she has two cars, my friend is not in the market for a new or upgraded car? Let the car person figure that one out. A problem I traditionally see is that the person giving the lead prequalifies the lead too much. Give the lead, and let them figure out the details. After you give the lead, you may then call the lead, should you choose to do so, and let them know you met someone who sells printers and seems like a really nice person, and you thought that the printer saleswoman might be a good gal to talk to - simple. You would not turn your friend over to a schmuck. The great part about giving leads is that it allows for one of the greatest influence tools to go into effect: the law of reciprocity. The law of reciprocity says that as you give, you must get. When I was eighteen, I sold Fuller Brush door-to-door and had a route that I would

visit weekly. On my route, I would knock and get some people who would not open their doors. Some people would yell from the other side of the door that they were not interested, and thanks for coming by, and I should stop by on my next go around. Well, you and I know that I would starve to death if I kept it at that. I had something to sell, and they were buyers, and my job was to get a skeptical buyer into our products. They would say no over and over. Finally, I would retreat to my big guns, which almost guaranteed getting the door open. I would say, “OK, but I have a free gift for you.” Without their acceptance of the gift, I would drop it through the mail slot located on the door. The moment the gift hit the inside of their house and they picked it up was the same moment the chain came off the door. Presto, I was in, and the sale was made. The gift that I would give would be a simple five-cent comb or a two-cent witchhazel hand lotion or a simple vegetable brush. The success wasn’t in the size of the gift; the success was in the fact that the gift existed at all. The moment you take the gift is the moment you feel compelled to reciprocate. The Hare Krishna take advantage of this concept with flowers. If, when you’re running through an airport, you do not take the flower that the Hare Krishna gives to you, then you do not have to give. The moment you take is the moment you reach into your pocket to give. Give your networking partners leads and more leads. Another great part about giving leads is you do not have to have this amazing, outrageous personality. You do not have to spend all this time matching and mirroring and wondering if you are in rapport with them. Leads are a great compensating factor. To make a long section short: Do not go undercover. Do not be a fly on the wall. Do not be a taker. Do be a giver.

Brett Figueroa has trained thousands of sales professionals leading many of them to the top 1% of their industry. Brett has delivered over 3,000 presentations nationwide and abroad. With Brett’s training many of these companies earned millions more in additional revenue. Trained by the nation’s foremost authority on the psychology of peak performance and personal, professional, and organizational turnaround, Anthony Robbins. For more information, or to reach Brett, please write: Brett.figueroa@yahoo.com or call 303-921-3017.

18 LAS VEGAS AGENT MAGAZINE | November/December 2015

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COVER STORY

A Very Merri Perry

By: Melodie C. Miller

n a town that worships the “payout”, Realtor ® Merri Perry has instead devoted her life to paying forward.

Case in point: This is a woman whose oldest kid, still a little boy at the time, filled the garage fridge with food. When she asked him, “Sean, what is all this stuff?” he calmly replied, “Mommy, you always say it’s good to help the less fortunate. I just opened it up and the neighbors helped themselves.” Though it wasn’t exactly what this proud mother had in mind, she hugged him for the effort and explained what true need was all about.

Photography: Jamie's Pix

This lady who once posted on her Facebook page, “Character is how you treat those who can do nothing for you,” has been crafting her own character since childhood. When asked how her parents came up with her name, Merri blurts a characteristically frank answer. “It’s a stupid story, but I’ll tell you anyway. My father told my mother, before I was born, that he wanted a daughter and wanted to name her Merri. He’d dated a girl he didn’t really like who had that name, and the name stuck with him.” New Yorkers from Queens, Merri and her mother moved out to Las Vegas when she was 13.

Merri and her two boys would also fill plastic bags with bottled water, a chocolate bar, a dollar bill, toothpaste, a pair of socks, deodorant. Then as when they’d travel town, they had something to hand out to the homeless.

It wasn’t easy being raised by a single mom who played poker for a living, working wildly erratic hours. Merri basically raised herself, somehow figuring things out along the way, yet remains her mother’s best friend.

“People told us not to do it, said they’d never get on their own feet that way,” says Merri. But there’s just no stopping this family paying it forward to everyone they encounter.

“I’ve always had a love of homes, loved looking at homes, loved everything about homes. And I love helping people find them.”

Savvy, genuine, with a heart as big as Nevada, Merri Perry hasn’t a selfish bone in her statuesque body. In fact, she carries around three neglected herniated discs, keeps popping her broken nose back into place, and goes right on putting family, clients, and countless charities ahead of herself.

20 LAS VEGAS AGENT MAGAZINE | November/December 2015

And the whole concept of “home” became a holy grail for her.

Her Facebook page overflows with fantastical images of a dream treehouse, an infinity pool on a mountaintop, a faerie garden shed, an enchanted Victorian greenhouse—all presented with a coy question like “Wouldn’t you love this?” It’s her mission to lead clients, by the hand, to such dreams. Merri's office reflects that same positive spirit, sparkling with

good vibes and a bit of candy-bowl sugar to keep things as sweet and high energy as she is. When she first got her real estate license in the early nineties, Merri also worked three other jobs, including waitressing at the legendary Riviera, where she became a favorite of the movie stars who came and went for shows and for the filming of movies like Casino and Showgirls. Real estate was a whole different ball game then. Imagine not having email, using beepers, fax, and mammoth phones. There was no online MLS, just a big book updated maybe once a month. “You had to go flipping through that book,” Merri remembers, groaning. “And by the time you found a listing, it might not be available.” But real estate would soon take a back seat to the first two loves of her life, after she married and had two sons, back to back: Sean Perry (now 18) and Joseph Perry (17). Merri became torn by her drive to give to everyone who needed her. She had clients pleading, “We want you to help us find a home.” But her boys always came first. Given her own lonesome childhood, she devoted herself to them wholeheartedly. “I believe if you bring children into your life, you have to be involved in their lives,” she says. The outcome was two good-hearted, active boys, just like their mom.

“I’ve always tried to teach my kids the reality of life. My sons played with everyone, even in the worst parts of town. I took them to senior centers, too, to expose them to even more kinds of people. “I wanted to teach Sean sensitivity. So, even though he hated dancing, I took him to retirement homes, and pretty soon they all wanted to dance with him. I said, ‘See, Sean, these ladies haven’t danced in years, and now they want to dance with you.’” The sensitivity training apparently took. One day, Sean bravely stepped up and uttered the unimaginable: “Mom, you’re not happy with my father. It’s time for you to move on. We’ll be fine.” After the divorce, as he was preparing for business school at Cal Poly, Sean was well aware that money was tight. Though it was his senior year, and he’d made varsity in all his sports, he decided to move in with a cousin in San Diego, to establish California residence and ease Merri’s tuition burden. If she hadn’t gone into real estate, she says, “I would have wanted to be a social worker and help people.” What she doesn’t realize is that, every day, she helps more people with what she does than if she actually were a social worker. And anything that touches Merri’s heart seems to turn on her drive to give. Affected by many friends who’ve had cancer, as well as firsthand experience with melanoma, she made cancer benefits one of her causes. When Sean was eight, they attended a charity poker tournament at Coronado High School. “Our team reached out to anyone who’d had cancer, knew someone who had cancer, had a family member who died of cancer. We got the most money ever as a team, and Sean won the whole tournament!” Meanwhile, although far apart, Merri remained close to the father in Queens who long ago gave her that impulsive name. “He was an army veteran with bad demons.” she admits. “I’d supported him since I was 16.” When she learned that he’d died at New York’s Bellevue Hospital, Merri knew she had to come get him. She had a good friend in the military, who helped make some phone calls. A scant day before he would have been buried in a nameless grave, her father’s ashes were shipped to Las Vegas Veterans Memorial. He received a flag ceremony burial, courtesy of the VA.

WCR Habitat for Humanity Event. (Pictured with Chantel Tilley & Shanta Patton)

She coached them in soccer, they played basketball and baseball, swam and took karate four hours a day. Sean was also captain of just about everything, as well as the chess club and service-oriented Key Club. Joseph tested off the NAGC (National Association for Gifted and Talented Children) scale, and will be attending UNR upon graduation. They all plunged, hand in hand, into volunteer work and charity fundraising, from the time the boys were kindergartners. Paying it forward became a way of life, not just for Merri, but also for her sons.

“Ever since then, I do everything I can for Veterans issues, especially when it comes to their housing. I love getting homes for veterans for $1 down and even helping to build homes for them through the VAREP.” As active members of VAREP, (Veterans Association of Real Estate Professionals), Merri and fiancé Jimmy, who is on their board, put in a lot of time trying to further that cause. And … sometimes … when you give and give and give, without expecting anything in return, something good does come back to you. Merri was engaged last Christmas to 22-year navy veteran Chief Petty Officer Jimmy Vega, who owns an Allstate Insurance Agency and is a Chief in the U.S. Navy Reserve. In parallel lives, these two moved from New York to Las Vegas in the 80’s, met at Clark High School where they graduated from the same class. “We have a lot November/December 2015 | LAS VEGAS AGENT MAGAZINE

of the same friends and Jimmy has a heart of gold. When we were reunited after previous marriages, we realized we were soul mates and destined to be together” Merri shares. “Friends say I have a natural gift for telling when someone needs help. I told him on Facebook, ‘I could help you with your business, plus I’m Cupid, so I could set you up with someone.’

“And I was nominated for the 2014 and 2015 Best Real Estate Agent in the Best of Silver State Awards, against very strong competitors. When I won both of them, I was speechless. It wasn’t based on how much money I made; it was a people’s-choice award based on how many voted for me on Facebook. It meant a lot to me!

“We met, and it was love at first sight. On our first date, he asked, ‘So, are you still setting me up with someone?’ I said, ‘No, I’m keeping you!’” “He’s like my twin! It’s the craziest thing. And the boys love Jimmy.” Is this karma, or what? “I think that you get what you give,” says Merri. “It doesn’t happen all the time, and sometimes bad things do happen to good people. But, look, I went through a divorce, but I have my wonderful boys and met the man of my dreams.” Now that her sons are young men, Merri has the time to devote full attention to her clients, as an agent with Realty One Group, Las Vegas. And she opts to work one on one with them, unlike the team approach that so many Las Vegas Realtors® go for. Good fortune continues to follow her. Merri is Womens Council of Realtors® (WCR) 2016 President. “It’s a great organization, so many strong women. They all help out with building better businesses and still make time for charity.” Merri, is looking forward to her year as WCR President, handselecting each board member to better serve the local chapter of the national organization. She takes this new commitment as seriously as she does everything else in her life. Merri pictured with fiancé, Jimmy Vega at the Navy ball

“I don’t want to make the most money in Las Vegas. I just want to have enough to support myself and my kids, put them in a good college, have two beautiful dogs (one a rescue, of course), and smell the roses.” What’s in Merri’s future? “I enjoy doing what I do. I love helping people. My nickname is The Negotiator because I always negotiate the best deal for my clients, selling highest and buying cheapest. I try to treat every person I work with like they’re family. I love getting deals no one thinks are possible. “Do I make the most money? Absolutely not. Anyone can have a lot of money, but being rich to me means being happy, healthy, and with my boys.” Merri with sons (l-r) Joseph Perry and Sean Perry

What advice does Merri have for those just starting out in real estate? “The number one thing is: This one person who’s buying a home, if you do them right, they’ll give you 100 other people. Commission isn’t everything; it’s how you treat someone.” That’s paying it forward. To reach Merri, please call (702) 219-2585, or email merri.perry@yahoo.com.

22 LAS VEGAS AGENT MAGAZINE | November/December 2015

A HOME FOR EVERY LIFESTYLE D E L I V E R I N G T H E B E S T I N D E S I G N , Q U A L I T Y & VA L U E SERIES I AT VILLA SERENA Mountain Falls • 1,514-2,102 Sq. Ft. From the mid $100’s • 775-751-3278 SERIES II AT TIVOLI Mountain Falls • 2,055-2,741 Sq. Ft. From the low $200’s • 775-727-0429 TIERRA ESTE North Las Vegas • 1,696-2,434 Sq. Ft. From the low $200’s • 702-778-3600 RHAPSODY North Las Vegas • 2,149-3,313 Sq. Ft. From the low $200’s • 702-778-3600 BROOKSHIRE HEIGHTS Southwest • 2,757-3,178 Sq. Ft. From the high $300’s • 702-685-2911 LYON ESTATES Northwest • 2,639-4,440 Sq. Ft. From the low $400’s • 702-476-6119 SERENITY RIDGE Northwest • 3,032-4,000 Sq. Ft. From the high $400’s • 702-778-6676 ALLEGRA The Paseos in Summerlin 2,964-3,323 Sq. Ft. From the low $500’s • 702-604-1353 BROOKSHIRE ESTATES Southwest • 3,561-4,199 Sq. Ft. From the high $500’s • 702-906-2150 TUSCAN CLIFFS Southern Highlands • 4,256-4,996 Sq. Ft. From the low $700’s • 702-629-6118 LAGO VISTA Lake Las Vegas 4,292-5,032 Sq. Ft. From the high $800’s • 702-856-0718 STERLING RIDGE The Ridges in Summerlin 3,546-4,871 Sq. Ft. From the high $800’s • 702-522-9310 SILVER RIDGE The Ridges in Summerlin 3,733 to 4,871 Sq. Ft. From the low $1 Millions • 702-522-9310

For community location and driving directions visit LyonHomes.com

*William Lyon Homes reserves all rights to modify or change prices, specifications or incentives at any time.

SAVE the Date

WCR Installation of 2016 President Merri Perry and the Board of Directors. Saturday, Nov. 21, 2015 Bear's Best Golf Club 11111 W. Flamingo Road Las Vegas, Nevada 6:00 p.m. - 9:30 p.m. Cost: $65 on-line $75 at the door Please join us for a fantastic evening of Dinner, Dancing and great raffle prizes! Cocktail Attire please. To RSVP, please call 702-219-2585, or email: Merri.perry@yahoo.com.

LOCAL HOUSING STATISTICS Greater Las Vegas Association of REALTORS® October 2015 Statistics Single Family Residential Units AVAILABILITY AT END OF PERIOD # of available units listed Median list price of available units Average list price of available units

*AVAILABILITY AT END OF PERIOD # of available units listed w/o offers Median list price of available units w/o offers Average list price of available units w/o offers

Change from Change from Sept 15 Oct 14 13,524 +1.0% -6.3% 240,000 -0.8% +8.1% 356,061 -0.2% +10.7%

Oct 15 $ $

Change from Change from Sept 15 Oct 14 8,252 +1.5% -7.1% 273,950 -0.4% +9.6% $ 419,877 -1.6% +10.4% $

Oct 15 $ $

Change from Change from Sept 15 Oct 14 3,504 -4.2% -0.2% 239,000 -0.4% +5.0% $ 306,596 -5.8% +2.6% $

Oct 15

NEW LISTINGS THIS PERIOD # of new listings Median price of new listings Average price of new listings

$ $

Change from Change from Sept 15 Oct 14 2,438 -10.4% +4.7% 220,000 +0.0% +10.1% $ 259,238 +0.8% +4.9% $

Oct 15

UNITS SOLD THIS PERIOD # of units sold Median price of units sold Average price of units sold

$ $

TIME ON MARKET FOR UNITS SOLD THIS PERIOD 0-30 days 31-60 days 61-90 days 91-120 days 121+ days TOTAL HOME SALES DOLLAR VALUE FOR UNITS SOLD THIS PERIOD

Oct 15 50.0% 19.3% 11.3% 6.6% 12.8%

Sep 15

Oct 14

49.4% 19.0% 12.3% 7.4% 11.9%

Oct 15 3,385 125,000 236,190 Oct 15 2,314 130,000 269,075 Oct 15 786 125,000 176,675 Oct 15 582 105,000 142,789

Change from Change from Sept 15 Oct 14 -1.5% -7.3% +4.2% +17.9% -0.4% +7.2% Change from Change from Sept 15 Oct 14 +0.1% -9.2% +0.1% +18.2% -3.3% +3.3% Change from Change from Sept 15 Oct 14 -4.8% -5.9% +0.1% +13.6% -12.2% +5.7% Change from Change from Sept 15 Oct 14 +3.2% +9.2% -11.8% +6.1% -1.8% -3.3%

Oct 15

45.5% 19.1% 12.1% 7.3% 15.9%

Change from Change from Sept 15 Oct 14 632,023,368 -9.7% +9.9% $ Oct 15

Source: Greater Las Vegas Association of REALTORS®

Condo/Townhouse Units

Sep 15

45.0% 17.4% 11.2% 7.4% 19.1% Oct 15 83,103,004

Oct 14

45.2% 18.6% 10.3% 8.2% 17.7%

37.1% 18.2% 15.2% 9.2% 20.3%

Change from Change from Sept 15 Oct 14 +1.4% +5.6%

*This category reflects the existing market availability of listings without pending or contingent offers.

For media inquiries, please call George McCabe, with B&P Public Relations, at (702) 325-7358 DISCLAIMER: This data is based on information from the Greater Las Vegas Association of REALTORS® (GLVAR) Multiple Listing Service (MLS). This information is deemed reliable but is not guaranteed. MLS collects, compiles and distributes information about homes listed for sale by its subscribers who are real estate agents. MLS subscription is available to all real estate agents licensed in Nevada, but is not available to the general public. Not all licensed agents subscribe to the MLS. MLS does not include all new homes available or listings from non-MLS agents, nor does it include properties for sale by owner. The territorial jurisdiction of the GLVAR as a member of the National Association of REALTORS® includes Clark, Nye, Lincoln and White Pine Counties, Nevada, and such other areas as from time to time may be allocated to the GLVAR by the Board of Directors of the National Association of REALTORS®.

Source: Greater Las Vegas Association of REALTORS® For media inquiries, please call George McCabe, with B&P Public Relations, at (702) 325-7358.

Availability Without Pending Or Contingent Offers DISCLAIMER: This data is based on information from the Greater Las Vegas Association of REALTORS® (GLVAR) Multiple Listing Service (MLS). This information is deemed reliable Units End Of Period but is not guaranteed. MLS collects, compiles and distributes information about homes listed for sale by its subscribers who are real estate agents. MLS subscription is Sold available toin all Period Greater Las Vegas Association of REALTORS® Statistics Greater Las Vegas Association of REALTORS® Statistics real estate agents licensed in Nevada, but is not available to the general public. Not all licensed agents subscribe to the MLS. MLS does not include all new homes available or listings from non-MLS agents, nor does it include properties for sale by owner. The territorial jurisdiction of the GLVAR as a member of the National Association of REALTORS® includes Clark, Nye, Lincoln and White Pine Counties, Nevada, and such other areas as from time to time may be allocated to the GLVAR by the Board of Directors of the National Association Availability Without Pending Or Contingent Offers Units Sold in Period of REALTORS®.

Thousands

End Of Period

14 12 10 8 6 4 2 0

Single Family Residential Units

Condo/ Townhouse Units

4000 3500 3000 2500 2000 1500 1000 500 0

Single Family Residential Units

Condo/ Townhouse Units

Month

Month Source: Greater Las Vegas Association of REALTORS®

Source: Greater Las Vegas Association of REALTORS® For media inquires, please call George McCabe, B&P Public Relations, at (702) 325-7358. DISCLAIMER: This data is based on information from the Greater Las Vegas Association of REALTORS® (GLVAR) Multiple Listing Service (MLS). This information is deemed reliable but is not guaranteed. MLS collects, compiles and distributes information about homes listed for sale by its subscribers who are real estate agents. MLS subscription is available to all real estate agents licensed in Nevada, but is not available to the general public. Not all licensed agents subscribe to the MLS. MLS does not include all new homes available or listings from non-MLS agents, nor does it include properties for sale by owner. The territorial jurisdiction of the GLVAR as a member of the National Association of REALTORS® includes Clark, Nye, White Pine and Lincoln Counties, Nevada, and such other areas as from time to time may be allocated to the GLVAR by the Board of Directors of the National Association of REALTORS®.

ABOUT THE GLVAR

For media inquires, please call George McCabe, B&P Public Relations, at (702) 325-7358.

DISCLAIMER: This data is based on information from the Greater Las Vegas Association of REALTORS® (GLVAR) Multiple Listing Service (MLS). This information is deemed reliable but is not guaranteed. MLS collects, compiles and distributes information about homes listed for sale by its subscribers who are real estate agents. MLS subscription is available to all real estate agents licensed in Nevada, but is not available to the general public. Not all licensed agents subscribe to the MLS. MLS does not include all new homes available or listings from non-MLS agents, nor does it include properties for sale by owner. The territorial jurisdiction of the GLVAR as a member of the National Association of REALTORS® includes Clark, Nye, White Pine and Lincoln Counties, Nevada, and such other areas as from time to time may be allocated to the GLVAR by the Board of Directors of the National Association of REALTORS®.

GLVAR was founded in 1947 and provides its more than 11,000 local members with education, training and political representation. The local representative of the National Association of REALTORS®, GLVAR is the largest professional organization in Southern Nevada. Each GLVAR member receives the highest level of professional training and must abide by a strict code of ethics. For more information, visit www.HomeLasVegas.com or www.lasvegasrealtor.com.

November/December 2015 | LAS VEGAS AGENT MAGAZINE

Holiday Giving The following companies are doing independent events to aid the less fortunate during this holiday season ... Please Help! Desert Companies

Desert Companies is running a Toys for Tots Fundraiser now thru December 18th at all Desert Locations. This is the third year they’ve held this fundraiser!

• Desert Lumber North 4950 Berg Street, North Las Vegas, NV 89081 Contact: Brittany Roland @ (702) 851-2866 7am-4pm •

Desert Lumber South 5555 S. Arville St, Las Vegas, NV 89118 Contact: Beth Sandlin & Mary Oerding (702) 431-9663 7am-4pm

•

Desert Fasteners 4717 W. Post Road, Las Vegas, NV 89118 Contact: Carol Kubenski @ (702) 589-9999 7am-4pm

•

Desert Truss 6050 Howdy Wells Ave, Las Vegas, NV 89115 Contact: Brenda Bennett @ (702) 642-7800 7am-4pm

Save the Date!

In the spirit of giving back this holiday season, Realty ONE Group has adopted a charity. We will be hosting an auction to raise money for The Shade Tree shelter. Tuesday, December 15, 2015 11:00 a.m. – 3:00 p.m. Realty ONE Group Green Valley Office 2831 St. Rose Pkwy., Suite 100 Henderson, NV 89502

Boys Town Nevada

Give Holiday Presents to Children in Need! Give Hope for the Holidays!

There are children in our community who do not know the joy of opening holiday presents chosen with love. You can change that. How it works Boys and girls at Boys Town Nevada have picked what they would love to receive this year. Everything from dolls and toy cars to scooters and scarves are included. Take a look at what you could give. When you check out, your gifts will ship directly to Boys Town Nevada, where we'll wrap it with care and give it to a child in need this season. Each gift ranges in price from $3 to $40. Cash donations are also accepted. If you have any questions, please contact Lillian Dypold or 702-724-8409 P.S. You can help us bring smiles to more children by forwarding this to your family and friends. “Let us all join in making this the happiest Christmas season for ourselves by generous giving. We will thus all be repaid countless times in personal happiness.” — Father Edward J. Flanagan, Founder of Boys Town Sincerely, Brian Plaster V.P of Operations Signature Homes & Signature Management

For more information or to donate, please call 702898-7575. Your open hearts and generosity will help make a truly joyous holiday season for those in need.

Thank you for your generosity this holiday season!

Realtors®, Let Us Make Your Job Easier! One stop and your buyer is registered at all American West Communities. Looking for a new home and not sure what might be the right fit or what area of town you should be in? American West’s Home Finding Center is a one-stop location for you to find your perfect American West home. We are the only new home builder in Las Vegas that has a dedicated New Home Finding Specialist. Scott Stewart is American West’s New Home Finding Specialist. His job is to make your new home search as easy as possible. He is knowledgeable in everything American West builds in the Las Vegas Valley. Have questions about neighborhood schools? Want to know more about neighborhood conveniences? Need some relocation information? Scott can assist you with all these questions and any other information you may need. American West understands that buying a new home and/or relocating can be a difficult process. We want it to be a joyful, easy process for you and your family. Contact Scott today to start your new home search or with any questions you may have about American West’s new homes and communities. We look forward to helping make your dream of a new home come true. Built by American West - Best Built Homes in America American West: 9 communities 1,798 to 5,487 Sq. Ft. Starting from $267,500 (prices and information are subject to change)

Scott Stewart Call or text: 702-308-1746 sstewart@americawesthomes.com

SOUTHERN NEVADA HOME BUILDERS ASSOCIATION

SNHBA NEWSLETTER

Housing Recovery to Pick Up Steam in 2016, but Challenges Remain Steady employment and economic growth, pent-up demand, affordable home prices and attractive mortgage rates will keep the housing market on a gradual upward trend in 2016. However, persistent headwinds related to shortages and availability of lots and labor, along with rising materials prices are impeding a more robust recovery, according to economists who participated in the NAHB Fall Construction Forecast Webinar on Oct. 21. “This recovery is all about jobs,” said NAHB Chief Economist David Crowe. “If people can get good jobs that pay decent incomes, the housing market will continue to move forward.”

2017, Crowe said this is not expected to have an impact on the housing recovery. “As the economy gets better, job and wage growth should keep pace. So even though mortgage rates will rise, they will still be low by historical standards and very affordable.” Supply Headwinds Crowe noted several factors that are hindering a more robust recovery. Citing an NAHB survey of its members, 13% of builders reported the cost and availability of labor was a significant problem in 2011 and that concern jumped to 61% in 2014. About one-fifth of builders shared the same concerns regarding lots in 2011 and that ratio shot up to 58% in 2014. Concerns over building materials stood at 58% among builders in 2014, up from 33% in 2011. Single-Family Continues to Post Gains Turning to the forecast, NAHB is projecting 719,000 single-family starts in 2015, up 11% from the 647,000 units produced last year. Single-family production is projected to increase an additional 27% in 2016 to 914,000 units.

The good news, Crowe added, is that total U.S. employment of 142 million is now well above the previous peak of 138 million that occurred in 2008. The one caveat is that job growth has been concentrated heavily in the service sector, which tends to pay lower wages than goods producing jobs. Meanwhile, home equity has nearly doubled since 2011 and now stands at $12.5 trillion. “The single biggest asset in most people’s portfolio is the home they own,” said Crowe. “That’s important because the primary purchasers of new homes are the sellers of existing homes. The more equity they have, the more comfortable they feel about purchasing a new home.” And while mortgage interest rates are expected to rise over the near-term, averaging 4.5% in 2016 and 5.5% in

LAS VEGAS AGENT MAGAZINE | November/December 2015

On the multifamily side, production ran at 354,000 units last year, slightly above the 331,000 level that is considered a normal level of production. Multifamily starts are expected to rise 9% to 387,000 units this year and post a modest 3% decline to 378,000 units in 2016. Residential remodeling activity is forecasted to increase 6.8% in 2015 over last year and rise an additional 6.1% in 2016. About Welcome to NAHBNow – an interactive blog geared exclusively to NAHB members that delivers news, product information and educational resources to help your business to thrive. You can post comments, suggest stories, see links to other popular news sources and much more. Timely, social and innovative, NAHBNow is all about member value and how your association is working for you

SNHBA NEWSLETTER

SOUTHERN NEVADA HOME BUILDERS ASSOCIATION

SNHBA and Builders Digital Experience Help REALTORS, Home Buyers Find New Homes and Communities in Metro Las Vegas REALTORS are very familiar with searching for homes on the Multiple Listing Service (MLS), but there is a much faster, more efficient way to research all the NEW homes that are available in metropolitan Las Vegas. The Southern Nevada Homebuilders Association partnered with Builders Digital Experience in 2010 to offer a program for the association’s builder members to promote the sale of their new homes, which created a one-stop destination to find new homes in Las Vegas, North Las Vegas, Henderson and the unincorporated areas of Clark County. Visitors to the SNHBA website can search for new homes online directly from the association’s website. The website can be accessed via three URLs: www.snhba.com, www. VegasNewHome.com and www.VegasNewHome.org.

About BDX Builders Digital Experience, LLC (BDX) a joint venture from Move, Inc. and Builder Homesite, Inc. combines the industry’s leading new home resources, and offers new home builders innovative online marketing solutions, streamlined customer service and support, and greater value. BDX is based in Austin, Texas and operates, NewHomeSource.com from Builder Homesite, Inc., and the new home channel from Move.com. Additional services include mobile marketing capabilities, interactive floor plans, photo realistic renderings, video and rich media production, email creative and fulfillment services, and digital marketing products for real estate professionals. For more information, visit www. theBDX.com.

The new home listing section of the website is powered by BDX’s leading new home website, www.NewHomeSource.com. Listing properties on the association’s website allows builders to reach customers who are actively searching for new homes – and that includes REALTORS who are researching the new-home market in our community. At the publication deadline, there were 1,044 new homes in 184 local communities/subdivisions featured on the site. Visitors can begin their search by selecting “Communities,” “Homes” or “Builders.” There are 16 major builders with listings on the site. The builders’ information includes: • Comprehensive listings, including images, floor plans, community information, mapping, video links and virtual tour links; • Automated eBrochure responses to sales leads sent every two minutes; • East-to-use search tools enable consumers to narrow results based on home size, amenities, school districts and much more. For example, there are “Quick Move In” and “Hot Deals” search buttons. The numerous filters include price, schools, home type, home status, number of bedrooms and bathrooms, the number of floors/stories, number of garages, square footage, master bedroom on first floor, special offers, “green” features, pool, golf course, gated community, parks, nature area, views, sports facilities and adult/senior community. Visit www.VegasNewHome.com to find the most updated and informative listings about the new homes for sale in metropolitan Las Vegas.

About SNHBA The Southern Nevada Home Builders Association is dedicated to enhancing the quality of life by meeting the housing and community development needs of Southern Nevada. Founded in 1953 by 12 local homebuilders and incorporated with the State in 1954, the Southern Nevada Home Builders Association ranks as the oldest and largest local trade organization representing the residential construction industry in Nevada. It has more than 360 members, working in all facets of the homebuilding industry. For more information, visit www.snhba.com.

November/December 2015 | LAS VEGAS AGENT MAGAZINE

NAHREP NEWSLETTER

NATIONAL ASSOCIATION OF HISPANIC REAL ESTATE PROFESSIONALS

November/December 2015 | LAS VEGAS AGENT MAGAZINE