Issue 28 - July/August 2018 by Las Vegas Agent Magazine

July/August 2018

From the Mind of

Jared Weiss

ALSO INSIDE

NEWS

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COntents May/june 2018

Andrew Wittman

Success comes when you’ve mastered your mindset

Created Exclusively for the Las Vegas Real Estate Professional

Publisher

Gloria Petersen

Melodie C. Miller

Meet and dine strategies

Publisher@LVAgentMagazine.com

Copy editor

JC Melvin

Debbie Flessner Ceditor@LVAgentMagazine.com

It’s NEVER too late

GRAPHIC DESIGN

Mike Klimek

Sho Labaco

Painting with a sprayer versus a roller

Art@LVAgentMagazine.com

04 16 06 18

Robert Bolick

LLC vs. Series LLC

Kelly Travis

What happens to you if you don’t get a restful night sleep?

08 20 10 22

Rick Glade

Are you busy, but not productive?

Rena McDonald

Photo by: Connie Palen

Photography Connie Palen Photos@LVAgentMagazine.com

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For more information please email or call 702-530-5033. L a s Ve g a s A g e n t M a g a z i n e i s 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.

Cover photo by: Connie Palen

Do I need a real estate attorney?

12 Jared Weiss

23 Housing Stats

26 Newsletter

Success Comes When You’ve Mastered Your Mindset

By: Andrew D. Wittman , Ph.D.

y lifetime obsession with achieving success has led to many years of grinding it out. Most of the early years left me unfulfilled -- and very unhappy. Even when my performance produced what others labeled a success, I still found myself feeling almost empty. The harder I chased after success, the unhappier I became. I didn’t realize that success and fulfillment are just like beauty: They’re in the eye of the beholder. Simply put, the benefits of success are byproducts of your mindset.

Define your circle of influence. The Centers for Disease Control and Prevention (CDC) recently recommended a strategy called “cocooning” to protect infants against whooping cough and other infectious diseases. Cocooning is the practice of vaccinating all close contacts, keeping all those around the infant diseasefree. This circle includes mother and father as well as siblings, grandparents and other caregivers or potential caregivers. As a result, the infant is surrounded by people who pose no risk of spreading disease. At the same time, recent research unequivocally shows you will become most like the people with whom you spend the most time. For example, the New England Journal of Medicine found that if you have a friend who is obese, you have a 57 percent chance of becoming obese yourself. “It’s important to remember,” said study co-author James Fowler of the University of California San Diego, “that we’ve not only shown that obesity is contagious, but that thinness is contagious.” In other words, consciousness and mindset are as contagious as whooping cough and other infectious diseases.

Check your ‘cocoon.’ If you find yourself constantly trying to obtain that ever-elusive success, stop and check your cocoon. Fulfillment and happiness are mere symptoms of the “disease” of mindset mastery -- the same way cough, fever, and nausea are symptoms of whooping cough. Symptoms are effects, not the root cause. Stop

pursuing effects and seize the cause. An infant is infected with whooping cough by being around those who have the disease. The mindset mastery that produces success is just as contagious. Take inventory of your environment and assess your own cocoon.

Choose your environment. Focus on the environment and the climate that you can create and control. Your airspace is yours and yours alone. There are many voices in the world, and all of them are clamoring for attention. In fact, everything on the planet has a voice, and they all talk to you. The chair in which you’re seated is speaking comfort or

discomfort. Your car will start talking to you when the fuel gauge begins to get low. Each voice is i mbued with a corresponding emotion a molecule of the disease it is carrying. The loudest and most influential emotional molecules stem from fear, followed by pain and then guilt. Love, of course, will overwhelm all others, and humor always seems to help. Your mindset-mastery cocoon is built by the voices and emotions you allow, giving them a place and a platform within your airspace. Your mindset will either infect you with the disease that produces the symptoms of success, fulfillment, and happiness -- or the disease that brings unhappiness. You must be mindful of

what you see, hear and read. Deliberately calculate what you feed on and where it came from. Place a value measurement on those sources of information and distraction.

Know what to ignore. I place minimal value on anything that comes from social media, the internet, media, family members, coworkers, books and even new research -- until I can scrutinize, investigate and verify for myself that the new information is factbased and not truth-based. I absolutely refuse to allow any unvetted opinions and assumptions unrestricted access to my airspace. Any unauthorized intrusion of dread, gossip, complaining and fearmongering are given a fighter-jet escort out of my airspace. The same goes for anything that conjures up wor r y, an xiet y, depression, defeat or misery. I’m not saying a n y of t h e s e voices are wrong. I don’t ignore or deny facts. But I do decontaminate my airspace and inoculate my mindset. Is the glass halfempty or half-full? Neither viewpoint is wrong. But a cocoon of half-empty friends is just as contagious as a cocoon of halffull friends. No one lives in a vacuum. Once you rid your cocoon of worry, fear, anxiety, and naysayers, you can fill it with voices that motivate you to the highest performance levels. Search out the voices that produce emotional molecules of perseverance, fortitude, determination, commitment, resilience, stamina and victory. Where are the voices that encourage you to thrive and flourish? You need to do more than merely survive -- and you can’t afford to wither in the face of adversity.

Andrew D. Wittman, is a United States Marine Corps infantry combat veteran, a former Police Officer and Federal Agent. As a Special Agent for the U.S. Capitol Police, Wittman led the security detail for Nancy Pelosi and has personally protected Hillary Clinton, Tom Delay, Trent Lott, King Abdullah of Jordan, Benjamin Netanyahu of Israel, Sir Elton John, as well as Fortune 20 CEOs. As a security contractor for the State Department, he taught high-threat diplomatic security to former Navy SEALS, Marines, Rangers, and Special Forces. Wittman is founder of the Mental Toughness Training Center, a leadership consultancy specializing in peak performance, team dynamics, resolving conflict in the workplace and is the author of the book, “Ground Zero Leadership: CEO of You” (2016). He holds a Ph.D. in Theological Studies, is a guest lecturer at Clemson University and co-hosts the radio call-in show “Get Warrior Tough”. He can be reached at info@getwarriortough.com | (864) 977-1443

Las Vegas Agent Magazine | July/August 2018

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Meet and Dine Strategies for

Building and Sustaining Relationships By: Gloria Petersen

The primary purpose of a business meal is to build rapport. Eating comes second.

You will be ordering from the menu, so understanding food descriptions and dietary restrictions is vital. Who pays the check? The check should be handled discreetly! Make this arrangement with the restaurant beforehand, so they know who gets the check and how it will be paid. Formal Affair: Formal dining typically centers around a pre-planned menu and can involve wine/food pairings. This means that the table will be preset and represent the entire meal’s need for utensil, plates, and glassware. It’s critical that you know how to read a table map because it tells you what to expect when. Typically, this meal is by reservation only (prepaid), so there is no need for a check. If there is a wine pairing, know that wine is paired with a specific dish and is correctly removed when that course has been completed.

eal estate agents have numerous opportunities to enjoy meals with clients, colleagues, and friends in many environments. Options range from a simple coffee and/ or business lunch to formal dinner affair. It is not just about which fork to use, or which water goblet is yours, but also how to handle yourself with class and finesse. Whether you are host or guest, your table manners should convey to your dining partners that you are always in control. If you frequent a venue, build a relationship with the coffee barista or restaurant. It starts here! Your communication with the staff is a direct reflection on your personality. This starts with being respectful to the staff. Are you easy to work with, or judgmental and critical? The staff is there to make sure your dining needs are met, and your meal meeting is successful. Things happen. If there is an issue, take care of it privately with the restaurant manager. This demonstrates sensitivity and finesse. Fast-food, food trucks, and buffettype restaurants, along with gourmet coffee cafes, present a more casual, less-structured, less expensive dining experience. However, they can create the pressure of having to make a fast decision

in a short period of time. Setting the tone of a hurried meeting. Restaurants with table service are more structured with their service allowing a more relaxed environment. Formal dining and banquets are more celebratory. Coffee Shops: Find a table away from the sound of grinding coffee beans. Although you are not required to order something, you should! It shows respect for the establishment and makes guests more comfortable. No one likes to be the only one enjoying their beverage! The wi-fi network is very appealing; however, the table is not your office! Be respectful of the Baristas’ perks. Food Courts and Food Trucks: Quick food eateries range from food courts to cafeteria-style buffets to food trucks. Examine the menu before getting in line. Try to get your guest’s food preference ahead of time so that you can guide them appropriately. Clear your table after eating, so it is ready for the next person. This is a courtesy and is noticed. Lunch Tips: Planning a business lunch is probably the most persuasive and telling form of conducting a meal meeting. It can serve as an assessment tool, demonstrating both your organizational and people skills.

Las Vegas Agent Magazine | July/August 2018

At a formal dinner gathering, I was seated at a round table of eight preset with empty wine glasses and a bottle of wine. After the captain poured the wine, I picked up the wineglass on the right side of my place setting and took a sip. The gentlemen on my right, who had arrived late, crossed his arms in front of this chest and leaned back in his chair during the speaker’s presentation. I could feel his glare; he appeared very annoyed. After the speaker finished, he could no longer contain himself and announced that I was drinking from “his” wine glass! Being careful not to become defensive, I quickly apologized. As it turned out, a woman sitting directly across from us had picked up the wineglass on her left instead of her right, which caused a domino effect; the person on his right had taken his wineglass. (Beverage glasses are on your right.) He did not catch the misstep because he arrived late. However, another gentleman, politely responded that I had picked up the correct wineglass. This created another awkward moment. I did my best to inject humor into the situation to avoid causing further embarrassment. I discreetly signaled the server. The server immediately recognized the misstep and retrieved the empty wine glass and poured his wine. We moved on to the next topic of conversation. It was an innocent mistake. One can do all the right things and still have something fall amiss because of someone else’s unintentional misstep. Knowing dining

etiquette and protocol will prevent these awkward moments from occurring.

Overall Dining Tips 1. Before you are seated, put your cell phone on vibrate or better yet, turn it off and put it away! DO NOT put your cell phone on the table. The individuals at your table are your VIPs! If you need your cell phone for information, make sure everyone knows how it is being used. 2. If you are the guest, follow the lead of your host. Do not pick up your napkin or disturb the table arrangement until he or she does and offers the welcome to everyone. 3. Lay the napkin on your lap; do not leave it unused on the table. Blot your lips before taking a sip of your beverage. 4. Posture is important. Sit up straight; keep knees (and personal items) under the table. DO NOT rest on your forearm while eating. It makes you look lazy. 5. Follow the table map: beverages, knives, and spoons are on the right; side dishes and forks are on the left. Use utensils from the outside in. Your dessert utensils are typically at the top of the plate or brought with dessert. 6. Order what can be easily eaten. Avoid challenging foods like spaghetti, ribs, and large sandwiches if you are trying to make an impression.

7. If you are not sure what to order, ask for a recommendation. A good rule of thumb is to order a mid-priced item and eat at least 80 percent of what you ordered to show you enjoyed the meal. 8. Never return a used utensil to the tablecloth. Once used, your utensils should always remain on the plate. 9. Make sure everyone is participating in the table conversation, and appropriate topics are discussed. Focus on building the relationship by discussing commonalities, special interests, or housing goals. This demonstrates leadership. 10. Thank your host for the meal and for the conversation (or opportunity). Record notes of your conversation for future reference when you return to your office. There are more tips; however, the above serves as your dining decorum foundation.

If you are dealing with domestic and international clients, your knowledge and comfort level with the five styles of eating and utensil usage are critical: (1) American Style, (2) Continental-British Style, (3) ContinentalEuropean Style, (4) Asian-Chopstick Style (5) Middle-Eastern. They all have a unique way of handling food (with or without utensils), a protocol for the order in which food is served, and time-honored rituals for serving (e.g., tea service) that should be respected. Whatever the situation or venue, this is an opportunity to assess your personality on a more social level, evaluate your communication skills, and observe your level of sophistication throughout the meal. Most importantly, displaying the proper use of etiquette, protocol, and manners is for every facet of your life. Want to learn more? “Dining Strategies for Building and Sustaining Business Relationships” gives you everything you should know plus extras.

Gloria Petersen, CPP, founder, and president of Global Protocol, Inc., is an author, trainer, and speaker on Professional Presence, Business Etiquette, and Protocol. Gloria is a graduate of the Protocol School of Washington ® and has received numerous certifications on her subject matter. Her four-book series, The Art of Professional Connections, and SME training modules represent her 30-year legacy. Learn more at GlobalBusinessProtocol.com or email direct: gpetersen@globalprotocol.com

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It’s By: J.C. Melvin

W want.

hen is the right time to reevaluate, reboot, revive or restart projects or dreams?

Chicken" until age 65. In fact, he'd been fired from a dozen jobs and gone out of business a time or two before his success.

Answer: Whenever you

We could go on and on with ordinary people that decided to follow their dream late in life and create something big and meaningful for themselves and their families.

As long as you can think it, imagine it or dream it, you are still in the driver’s seat to make it happen. Most really amazing things people have achieved, others thought impossible before they happened. Rodney Dangerfield was 46 before he appeared on the Ed Sullivan Show. This was a big break for him, and he went on to appear in movies such as Caddyshack and Back to School. Rodney was a comedic actor who also performed his comedy all over the world.

So the question might be, when is the timing right to make a BOLD move? The answer is whenever you decide in your mind and make a commitment with your heart. When you become giddy and excited about rebooting your life and moving in a new direction, it’s time.

Ever hear of Duncan Hines Cake Mixes? Well, Duncan Hines was 55 before he wrote his first food and hotel guides. He licensed the rights to use his name in baking when he was age 73.

If it's been a while since you've gotten excited about something new or obsessed with an idea, it may take a little self-talk and/or self-convincing to get the ball rolling. Remember, only you, in your heart, know what you can achieve. Stop asking why and start asking why not?

Harland Sanders (The Colonel) did not enjoy success with "Kentucky Fried

Here are a couple of great questions to ask when re-training our brains to

get excited and to push some adrenaline through those foggy blood vessels. If not NOW, when? If not ME, who? Yep, we find it's those that dare to dream big, wild and crazy stuff that come away with big results. We were all dreamers as young children. Remember when you wanted to be an astronaut or a superhero? We can learn a lot from children. They're pure, honest and full of imagination and dreams. There are no roadblocks or excuses why they cannot achieve their dreams. They can see themselves achieving their dreams. It’s NEVER too late for us. The only question is, are you ready? Are you ready to get excited? Are you ready to visualize something big? Are you ready to make a plan with your mind and a commitment with your heart? Are you ready to find your greatness and bring it to life? If not NOW, when? If not YOU, who?

JC Melvin is the founding dean of the NVAR and 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, add him on Facebook or jc@jcmelvin.com | 702.595.5024.

Las Vegas Agent Magazine | July/August 2018

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Painting with a Sprayer versus a Roller By: Mike Klimek

ew homeowners typically make improvements to a home to make it more comfortable. One of the most common and inexpensive improvements is paint. The question then becomes should the homeowner roll or spray? Some swear by the sprayer and others by the roller. You can get a quality paint job with either method, but each method also has its drawbacks. When spraying a room, the paint goes on the surface quickly, but it goes on every surface quickly, so everything you don’t want to be painted must be completely covered. That is the Achilles’ heel of the spraying process. If everything is masked and covered, you can spray an average size house in less than a day. If you are painting just your living room, you can spray it in an hour or two, but you have to prep the room first. If you can, remove everything from the room. If something is too large, put it in the middle of the room and cover it with a plastic tarp. I know some painters who cover furniture with sheeting and then tape the sheeting to the floor. The enemy here is overspray and “dry fall.” Dry fall is paint dust that sticks to anything it touches. It can be wiped or scrubbed off, but it is best to avoid it altogether. Remove all switch plate covers and window coverings. Also, tape over outlets and switches as well as doorknobs, doorstops, hinges and strike plates. Remove light fixture covers, and cover the light bases with plastic bags and tape. You may choose to spray over air registers depending on their condition. A great tool for this job is a masking machine. It costs about $30 and is versatile. The masker allows you to lay a strip of masking paper over a surface very quickly.

I like using 12-inch-wide masking paper. You simply stick the spool of paper on the machine and thread it so that as it exits the end of the masker, it attaches to the masking tape and you stick it to the surface. You can buy a cutting attachment or just use a utility knife to trim the end. Just make sure the paper is secured and won’t lift.

You want to hold the gun about 18 inches from the surface and keep the gun moving. Move your arm and then squeeze the trigger; when you approach the end of the stroke, release the trigger and then stop the movement. The fan of paint should hit the surface head-on, and each stroke should overlap the previous one by 50 percent. This will give good coverage on your surface.

To protect flooring, you can use a width of masking paper for the perimeter and then cover the floor with drop cloths or sheeting. Push the tape under the base with either a wallpaper smoothing tool or a dull putty knife. Make sure the coverings for your flooring are secure.

Start with the ceiling and spray it in one direction. When you finish with that coat, give it a second coat by spraying perpendicular to the first. This will give an even covering with little touch-up work. Follow the same procedure for the walls, doing one wall at a time.

You also want to cover yourself up. Obviously, wear old clothes or buy a paper spray suit and a spray sock for your head. Wear protection for your eyes, and strap on an organic vapor respirator for your lungs (when you start to smell paint through the respirator, it’s time to change the filters).

When the room is done, inspect the walls for any areas you have missed and hit it again with the sprayer. Just roll the gun in and roll it out so that the paint will blend in smoothly.

The spray gun will have a changeable tip for different applications. For your purposes, use a 617 tip (the first digit is half the width of the spray at a 12-inch distance; the second two digits is the diameter of the orifice in hundredths of an inch). This means that at 12 inches away from the wall, you will get a swath of paint a foot wide. Prime the sprayer according to your manual and thin the paint if necessary. Take a few test sprays and adjust the pressure to get a nice even fan.

Wait a couple of hours before you remove the masking tape. If you pull too early, the paint may run, and if you pull too late, the paint may dry onto the tape and pull off of the wall as you remove the tape. A nasty finishing blow to spraying is cleaning out the sprayer. This process can take an hour or two depending on how picky you are, but it involves taking the gun apart and running water or cleaner through the system. Maybe a brush and roller aren’t so bad after all.

Mike Klimek is a licensed contractor and owner of Las Vegas Handyman. He has written hundreds of 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 for the Las Vegas Review-Journal & Sun since November 2000. Watch for Mike’s regular column here and in the Las Vegas RJ. (702) 896-0000 | questions@pro-handyman.com

Las Vegas Agent Magazine | July/August 2018

cover STORY

Cover Story

Jared Weiss

“S

uccess is about dedication. You may not be where you want to be or do what you want to do when you’re on the journey. But you’ve got to be willing to have vision and foresight that leads you to an incredible end.” Usher Jared Weiss, President, and CEO of Motion Properties has built a career around what might appear on the surface to be luck or fate. But it’s more likely that his good fortune is a result of hard work, keen instincts, and his determination not to waste his God-given gifts. Weiss grew up in the suburbs of New York City and was attending college at the age of 18 in snowy upstate New York, when a friend walked into a room where he was, holding a UNLV brochure. “I looked at the brochure and said, ‘Can you imagine going to a school with palm trees?’” he said. “I thought that would be heaven. I told him that I was going to go there, too.” His friend ended up staying in New York, but Weiss almost immediately jumped on a plane and headed out west, with no money and no solid prospects, other than going to the school where the palm trees flourished.

Jared’s childhood drawing of a future Weiss Empire.

In the back of his mind, though, he had always had the goal of being an entrepreneur of some kind. “I wanted to own a business one day,” Weiss said. “I knew that to do that, I had to put a plan together and be disciplined.” A big part of that plan was to put away a certain amount of money every day, without fail. He had begun bartending, at the Fiesta Hotel, The Reserve, and then the Mandalay Bay Casino, and was starting to bring home some cash, so his savings account began to grow. By the age of 25, Weiss had bought his first house, and he carefully watched the market trends. It was the mid-90’s, and his investment’s value was increasing along with the real estate industry. “I thought, “Maybe I’m on to something here,’” he said. “So I bought more houses over the years, and by the late-90’s, I realized that real estate was the way to work my plan.” By the early 2000s, he owned about 40 houses, but by late 2004, he got the feeling that a steep drop in the real estate market was on the way. He said that during that time, houses were only on the market for a short time in Las Vegas, and typically had multiple offers at full asking price or more.

Las Vegas Agent Magazine | July/August 2018

Weiss’s suspicions about what was coming were confirmed when he began talking to sellers and found out that deals were falling through, and much more often than in the past, the offers weren’t coming in at all. He said that investing can be like gambling. “When you start making money, you think that it will never stop going up,” he said. “But I remember thinking when the $200,000 house turned into a $400,000 house in a year, that if this keeps up, by the time my two-year-old buys a house, a starter home will be about a million dollars. That doesn’t make financial sense.” He decided the time was right to sell all his homes. But a few years later, he sensed another opportunity. In 2008, he was ready to get back into the residential real estate market. Properties were being auctioned off at the Nevada Legal News, Weiss, and about seven other investors faithfully went there every day to snatch them up. That first year, he bought 60 of the properties and then hundreds more over the next couple of years. Around that time, Weiss again made a fortuitous shift in his business model.

Cover Story

“There were thousands of short sales on the market,” he said. “I went out and tied up maybe 2,000 short sales, and maybe 1,000 to 1,200 of them came to fruition. I did that from 2011 to 2014—after that, the market started coming back up and supply dwindled.” To date, Weiss has bought and sold over 4,000 homes in the valley.

Laura & Jared Weiss

Having learned the nuances of finance from his real estate investment ventures, Weiss then started using his entrepreneurial acumen to become a loan officer and has since owned two separate mortgage companies over the past 15 years. Jared also opened Motion Properties, his first real estate brokerage, after years of being a real estate agent. He also holds a general contractor’s license to rehab homes and has taken on other construction projects as well. The staff at Motion Properties have reviewed and assessed hundreds of properties month after month and choose to purchase homes they can rehabilitate and add value to our neighborhoods, meaning that new families can then buy the “like-new” home at well below new home prices. Joining Weiss on the senior management team at Motion Properties is his right-hand man, CEO Mike De Silva. Weiss owns a variety of businesses including Therapy, a restaurant in historic downtown Las Vegas’s new Fremont East District. Given the history of that area of town, he says that project especially means a lot to him. Jared’s desire to give back to

his community was the motivation for him to start such a new adventure. “Sig Rogich, and I, along with our families decided to open up Therapy on Freemont and 6th Street a couple of years ago,” Weiss said. “The restaurant is doing well, and it’s added to what’s been going on downtown there. I’m proud and grateful to be a part of something incredible like that.” Though he does stay busy with his various ventures, family means a lot to Weiss. He and his wife Laura, a licensed Marriage and Family Therapist Intern have four children and are currently licensed foster parents awaiting a fifth child. Their

oldest, a son, 22 is an apprentice at Motion Properties, when not attending college in Arizona, and their youngest daughter was just named Miss Junior Nevada 2018. All three daughters are active in dance, school, and their church. For a person who is so accomplished in their personal and professional life, Weiss keeps things low-key and even-tempered. Though both of Weiss’s parents, now retired to Las Vegas, had been school teachers, after he graduated from UNLV with a degree in history, he had known that he didn’t want to use that degree to teach. But he does still love learning about history, and sports history, in

Alexandra 17, Jocelyn 12, Dominic 22, McKinnley 9

July/August 2018 | Las Vegas Agent Magazine

Cover Story

particular. That’s why when boxing legend Muhammad Ali’s Louisville, Kentucky childhood home went up for sale in 2012. It piqued his interest. “Ali’s daughter went to UNLV with me, and for Black History Month when we were in school, she brought him, Mike Tyson and Gene Kilroy in to speak to us,” I was fascinated Weiss said. “Then when I saw years ago that his house was for sale, I called a Realtor in Louisville and said, “Go buy that house.’ I wanted to fix it up and turn it into a museum.” A year later, George Bochetto, a Philadelphia lawyer who is also a former Pennsylvania state boxing commissioner, contacted Weiss and offered to help with the restoration project. The pair spent hundreds of thousands renovating the sadly dilapidated home (after the initial $70,000 purchase by Weiss), and they even bought the house next door to use as a gift shop and welcome center. The museum’s official opening was three weeks before The Champ passed away. His funeral procession, followed by thousands

Muhammad Ali’s childhood home turned museum in Louisville, Kentucky.

of adoring fans, stopped right in front of the museum. Weiss even ma kes a personal commitment to contribute time, money and resources to community and professional organizations in Las Vegas. He’s been involved in many charitable endeavors, including cancer research, brain research, Refuge for Women, UNLV and numerous fundraisers held at his restaurant, Therapy. Part of Weiss’s intense commitment to his community is due to his drive to make Las Vegas a strong, growing city for his children to raise their own families there. He stays dedicated to the children’s schools and all their extracurricular activities. Just as their parents did, he and Laura continue to stress the importance of education to their own children. He said he is proud to call the desert his home and will continue to invest his time and money into the growth of Las Vegas. “I think I’ve just been fortunate in my life, but I also understand people’s behavioral patterns— what they think, what they’re going to think and what they’re going to do,” he said. “If you know that, you know

Opening of Therapy: Laura, Jared, Mayor Carolyn Goodman, Sig’s daughter, Britton, and Sig Rogich.

Las Vegas Agent Magazine | July/August 2018

how to stay ahead of the pack. When I was younger, I was learning-disabled and dyslexic, so I did poorly in school. But all those struggles helped me to develop strengths in other areas, like discipline and the ability to see ahead of the curve.” Weiss asserts that even though he tends always to be one step ahead of whatever trends are out there, there is always money to be made in real estate, whether it’s a down, up or flat market. He said that nothing lasts forever, and the key surviving the down times is to figure out methods to adapt to whatever is going on in the marketplace. He said that when he speaks to young people in the industry, he tells them first to remove the words “no” and “can’t” from their vocabulary. “I hate to use the old cliché that if you work your butt off, you can achieve anything, but the reality is that’s true,” he said. “And the second variable that I see the most is that the only reason people are stuck where they are is that they say, “I can’t” With hard work and discipline, you can go on and do anything you want.” Motion Properties’ office is located at 9067 West Post Road, Suite A, in Las Vegas. To find out more about the services they offer, visit their website at www.motioncorp.com or call 702-262-9000.

LLC vs. Series LLC

By: Robert Bolick

n our day and age limited-liability companies (“LLCs”) have largely replaced corporations as the entity of choice, both as the best vehicle for doing business and for holding assets which may generate liability.

LLCs v. Corporations – Which Is Better? LLCs have significant advantages over corporations on several fronts. Both are equally effective for protecting the owners from liabilities arising within the entity, such as a business conducted by the entity. Namely, if the business conducted by the entity. Namely, if the business is conducted through the entity as opposed to being done by the entrepreneur individually, the individual owners are shielded from liability by the corporation or LLC. The key is to conduct all business through the entity and not you personally. Where LLCs have a real advantage is liabilities going the other way – such as if someone has sued you individually and is trying to attach valuable assets to your business. If it’s a closely held business, a judgment creditor of yours generally will be able to attach your business and all assets within your business if you have a corporation. The opposite result happens if you have an LLC instead of a corporation – your creditor cannot gain control of your business nor attach any assets of your business.

Why is an LLC Better than a Corporation? The key lies in the statutes. Under Nevada law, a creditor of yours only gets what is referred to as a “charging order.” A charging order simply means that he can attach your membership (ownership) interest in your LLC and nothing else. This means that he can neither “pierce the veil” to attach any assets held in the LLC, nor does he gain any voting or other rights over the management or operating

of the LLC. One final advantage of an LLC for small business owners is that your LLC can essentially be taxed any way you like: (1) as a “disregarded entity” for IRS purposes; (2) as an S corporation; (3) as a partnership; or (4) as a C corporation. If you elect to be a “disregarded entity” with the IRS, you don’t even need to file a tax return for your LLC. All profits and losses are reported directly on your 1040 as if the entity didn’t exist. This can save you the cost of filing a separate income tax return for your LLC. Many people elect this for simplicity and cost-savings.

taxable income, you can issue your creditor a K-1 and pass the tax liability along to him. Instead of receiving cash on this judgment, he gets “phantom income” which he must report on his individual income tax return. No creditor ever keeps his charging order in place after receiving a K-1 from you.

What Can I Use May LLC For?

We recommend that you consult with your accountant or another tax advisor on which tax election makes the most sense for you in your individual situation.

The two most common reasons for creating an LLC are (1) to use in operating a business; and (2) to hold rental properties. We’ve already addressed the advantages of operating your business through an LLC instead of a corporation. An LLC can also be used to hold cash, securities and other investments free from the reach of creditors.

So What Can a Creditor Do?

Rental Properties:

Not much. Essentially he is forced to sit on his hands and wait for you to make a distribution. That typically only happens after hell freezes over – and that’s never yet happened in Las Vegas. It’s a very simple decision for the owners – distribute money, and the bad guys get it or don’t distribute anything, and your creditor never gets anything.

LLCs are ideal for holiday rental properties and are generally considered to be the entity of choice for these. By holding your rentals in an LLC, you protect yourself from liabilities arising on the properties. Some tenants thrive on suing landlords for real or imaginary damages. Sometimes the liabilities arise from unexpected sources.

But Wait, There’s More! K-O by K-1.

For example, I had a client who moved from her existing home to an upgraded home. She kept her first home to be used as a rental. Her first tenant was her 80 plus-year-old mother. I suggested that she create an LLC for her home because you never can predict what may happen. She declined. It was perfectly safe to have mom there, right? In this case, no. Mom

This is the part of the story where the truth really is stranger than fiction. The caption here is “the IRS is my friend.” Under federal tax law, if a creditor has attached your membership interest in your LLC, he steps into shoes for tax purposes. This means that if your LLC generates

Las Vegas Agent Magazine | July/August 2018

had one of her octogenarian friends over for a visit. The friend slipped and fell breaking her hip. Mom’s friend had to sue my client as the owner on the title in order to make a claim against the insurance policy, or so she said. The bottom line is that my client was personally liable for this injury and found herself named as a defendant in a lawsuit. The good news is that her insurance covered the damages. These stories don’t always have a happy ending. Nevada: “The Delaware of the West.” Delaware has long been recognized as a favorable place to incorporate and to do business. For those of us west of the Mississippi, Nevada is universally recognized as “having very strong and very favorable laws to protect the business, business owners, and generally anyone who has something and doesn’t want to lose it.” If you are looking to protect your business or your assets, look no further than Nevada.

Multiple Rental Properties

Series LLCs Series LLCs are the new kid on the block. Essentially, a series LLC allows you to create any number of “series” or compartments within your LLC. Each series provides asset protection as if it were a separate LLC. Series LLCs have several advantages: • You can create as many series within your LLC as you desire. • When you create a new series within your LLC, nothing needs to be filed with the state, meaning that you can create a series immediately. • There is no additional filing fee required when you create a new series. • There is no additional annual fee required for each series – just one annual fee for the LLC regardless of how many series you have. • You can avoid having to file multiple tax returns.

Series LLCs are the perfect fit for multiple rental properties. For example, in days past I had several rental properties. I created a separate LLC for each property to protect each one individually. Now, a single series LLC with multiple series, one for each property does the trick quite nicely. Only one filing fee is required each year, a significant savings.

What if I Own Properties in Different States? Not a problem. A Nevada series LLC can own property within or outside of Nevada.

Do You Have More Questions About Series LLCs? Robert L. Bolick, Ltd., offers free initial consultations. Call our office today to set one up at 702-690-9090. You may also contact us online.

Attorney Robert L. Bolick is owner and president of Bolick & Boyer in Las Vegas, specializing in estate planning and asset protection. He maintains an “AV” rating with Martindale-Hubbell, which is the highest rating awarded to attorneys for professional competence and ethics. (702) 690-9090| rob@rlbolick.com | www.rlbolick.com

What happens to you if you don’t get a restful night sleep? By: Kelly Travis

o you hop out of bed ready to take on the day or do you find yourself struggling to find the toothbrush (or your car keys)?

We’re walking zombies running in a million different directions, and pleading with the universe for just a few more hours added to our days. And for what? Would we use those hours for work? Or for sleep? Most would say that those extra hours would allow them to do more – yet if given the additional time, what we all need is sleep. The other day I was having a conversation with a friend, and during that brief communication, he shared that he barely gets 4-5 hours of sleep a night. It was as if his choice to not take care of himself was a badge of honor.

clients or talking with friends is a serious lack of sleep and too much stress. As a society we are in denial that we need sleep, opting to watch Netflix, surf social media or obsessively check emails until late into the night – all instead of hitting the pillow at a decent hour. And those that do want more sleep, can’t. Because...stress. We’ve been programmed to equate success with burning the candle at both ends, and the truth is, this behavior elicits the opposite results. Things like burnout, foggy brain, and unhappiness - not to mention a slew of health issues. Walking around in a fog, relying on caffeine to get through the day, and worrying more about our cellphone battery life than our own - has lead many of us to be dissatisfied in our careers and personal lives,

And I’ll be honest, it sounded all too familiar. I’ve worn that badge too.

The bottom line: Lack of sleep is a killer, and right now it is an epidemic that has turned into a global issue.

More and more these days the overarching theme when working with my

I know first hand how lethal negotiating with sleep can be. My lack of sleep and

high-stress levels caused some serious health issues for me and led me to reevaluate a whole hell of a lot - including my bedtime. Rather than making sleep something that I fit into my schedule, it has become a non-negotiable. Contrary to what many of us have been led to believe, overbooking and overextending ourselves is not how we get to the top. The good news, things are starting to shift as people like Ariana Huffington do research and push for change. It’s time we start changing our definition of success so that it doesn’t involve burning the candle at both ends, but instead, it requires more sleep so we can be energized, productive and healthy. If you’d like a few tips, reach out to me, and we can talk more about my favorite ways to transition into a lifestyle that includes more sleep, less stress and as a result - greater success and fulfillment.

Kelly Travis positively impacts high performers and organizations through her work. She has an extensive background in health and counseling, is a graduate of the Institute for Integrative Nutrition, where she earned her certification as a Holistic Health Coach and has an additional certification with Precision Nutrition in performance nutrition. Her passion for health and wellness started in college, where she was a collegiate All-American runner at UNC-Charlotte, and earned her Bachelor of Science in Public Health from Central Michigan University. Kelly’s extensive background in sales, marketing and publishing in the competitive Las Vegas market allows her to seamlessly communicate with high performing men and women as well as organizational teams on all levels to cultivate a sustainable healthy lifestyle that brings them joy and supports them to achieve big goals. Kelly can be reached at: kelly@kellytravis.net

Las Vegas Agent Magazine | July/August 2018

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Are You Busy, But Not Productive? By: Rick Glade

ost people, and I used to be one of them, are busier than ever - yet not productive. They say that- “a dog that chases his tail will get dizzy.” Many agents end up spending their energy chasing the business, always in a reactive mode rather than getting ahead and prospering. However, Advanced Agents set themselves up to be proactively successful. Instead of being one of the many; what if you could set yourself apart? Wouldn’t it be nice to get ahead of the trends and plan for prosperity? It’s all about leverage and timing and having the insight to determine where things will be rather than simply looking at where things are. Those who adjust their business mindset and adapt to the shifts in the market, set themselves up to generate an incredible thriving real estate business. If you’ve been in the real estate industry for four years or more, congratulations because you’re part of the minority who have figured out how to survive in this business. But for those of you that say “just surviving is not good enough!” I want you to stay tuned. Did you know that statics from the National Association of Realtors shows a lot of agents don’t even make it into their second year of doing this business? They simply give up because they didn’t know where to turn for guidance. It can be a very consuming business. It can be very hard because until now it’s always been based solely on sales and lead generation. All agents are equal because sales were the only avenue for income. We all understand that with this method; we are only as good as our last closed transaction. Now here is your first shift. You can start to begin thinking about more than just survival from sales. I am going to show how Advanced Agents are constantly gaining beyond just sales. They have the possibility to add monthly income beyond their own efforts and potentially build a future exit strategy. Their productivity rewards them with monthly residual income and building assets for retirement.

If you are like most real estate professionals, you can’t step away from your own business. Your business really is just a job that employs you. Perhaps you’re only a tenant at your brokerage. What would happen to your existing clients if you couldn’t show up because you suddenly had a life event happen? You’d probably get fired, right? Even more important, how about your personal income? What effect would that have if you had to step away for one reason or another? Think about this for a moment. This is something that happened to a friend of mine. At the time he was making a very good living at sales and had a nice pipeline of business going. He had all the bells and whistles in life. He had a thriving sales pipeline. He had an 8600 sq ft home with nine bathrooms, fancy cars and all the typical things money could buy. He really was living life to the fullest. He was in his late 20’s when he suddenly got diagnosed with cancer and had to spend over four months in the hospital. Needless to say, his business went dormant; eventually, he lost everything. He realized he had built a business that entirely relied on his presence. It was incredibly

We’ve all been stuck at one point or another. I was at this exact point in my own business. I always thought that to be successful, I needed to be self-employed as an agent and always be closing sales. Isn’t that what they teach us; the “ABC” (always be closing) method. I eventually chose to make my real estate career more like that of an entrepreneur.

Las Vegas Agent Magazine | July/August 2018

demoralizing, and once he was out of the hospital, he had to move into a small room in his parent’s home. The good news is he has since recovered completely and been cancer free for over 25 years. He has also rebuilt an entire career using the Advanced Agent strategies in his business. He has vowed never to get himself stuck like that again. He started to rebuild one client at a time. This time though he understood that he had to build more than just a sales and marketing business. So, he tapped into the residual side of the business to start being productive instead of just busy. He started building a future in real estate he could be absent from and still have money coming in case another life event were to happen. If you’ve ever been excited enough about real estate to go beyond just being busy and wanted to create a real estate business you could eventually walk away from. You need to start to think about the entrepreneurial side of the business and discover how to be productive instead of just busy. If you care to know more or would like a free copy of my Advanced Agent Book, feel free to reach out to me directly, I’d be happy to send you a copy.

Rick Glade is currently with EXP Realty, he leads as a Mentor/Trainor, Author and Entrepreneur. He has been through several business cycles and aspects of business marketing and investment. He is a firm believer of always being a student and continued growth, the pursuit of happiness as well as mastery of all aspects of one’s life. He now shares his knowledge with those whom seek. You too can make a decision to “create a life by design; and stop living a life by default! He can be reached at Rick.glade@exprealty.com or 702 721-9910

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Do I need a real estate attorney? Do I need a lawyer when it comes to Real Estate? Isn’t a real estate agent all I need?

t is a common question, and the answer is that having a competent attorney in the real estate shuffle is essential for protecting all parties involved in the transaction. The market in Las Vegas and the surrounding areas has been steadily heating up since the lows of 2012. A real estate deal can go to the edge of disaster multiple times in the process of buying, selling or renting, a property. A good team keeps you in a better position for a favorable outcome. Here are a few ways our office helps our Real Estate clients: For Agents Often, a last minute issue can present itself, preventing a sale from closing. Working closely with an attorney can help resolve any issues that may arise so that you can close your sale. Additionally, obtaining an attorney to help you along the way protects the agent from giving legal advice and opening themselves to liability. Our firm is experienced with handling the sales of properties that are in the foreclosure process, and we have many years of experience negotiating with servicers on short sales and often obtaining deficiency waivers for the clients. Additionally, we have represented many clients over the years in the Nevada Foreclosure Mediation Program and have been able to postpone and halt several foreclosures allowing the agent and the client the ability to complete their sale.

the removal of tax and other government liens. Additionally, we can assist with the negotiation and short payoff of other liens owed. If payoff is not a feasible option for you, we can evaluate you for a bankruptcy.

Another problem sellers’ face is that sometimes they choose not to use a licensed agent to sell their home. If you are not using a licensed agent, you should contact an experienced attorney prior to selling your home. We have seen many cases over the years wherein the seller did not require the buyer to sign an agreement, or they simply used a purchase agreement they found online. As such, these sellers have found themselves involved in litigation because the terms of the agreement or lack thereof were not clear and a dispute has arisen over the amount owed to them. These cases are unnecessary and could have been avoided, saving the seller the time and expense of litigation. Buyers

By: Rena McDonald

their insurance will not cover. We can assist these homeowners with seeking damages against the seller for their failure to disclose these issues. On the other hand, sometimes issues arise before closing that place the seller in breach of the purchase agreement; however, the seller refuses to return the earnest money deposits made by the buyers. We can negotiate with the escrow companies holding your funds and often have them returned to you without the need for litigation. Landlord/Tenants

We draft agreements, resolve disputes, and handle evictions from both sides. When it comes to real estate transactions, you are well served and better protected with a good Real Estate Attorney on your side whether you are the buyer, seller, agent or investor. McDonald Law Group is proud to serve Nevada residents with their real estate law needs. If you are in the need of a Real Estate Attorney, please contact our office for a free consultation.

There have been times where buyers have purchased a home only to find out afterward that there were previous This information is provided for issues with the home that the seller was required to disclose but failed to do so. informational purposes only. It is not This has left many new homeowners legal advice and does not constitute an stranded with expensive problems that attorney-client relationship.

In addition to foreclosure prevention options, our office can help assist with non-traditional sales and other unexpected issues that may arise during a sale. Sellers In addition to real estate law, our office also handles debt relief. Often agents will bring clients into our office who are attempting to sell their property; however, they have discovered that judgments and other liens have been attached to the property. These liens and judgments will remain on the property and will prevent a sale from closing unless they are removed. We will contact the IRS, and other state and city entities to negotiate

Las Vegas Agent Magazine | July/August 2018

Rena McDonald is Managing Partner of McDonald Law Group practicing in Bankruptcy, Foreclosure Prevention, Real Estate Litigation, Family Law, Personal Injury Litigation, Contract Litigation and Review, and Small Business Development with an emphasis on Real Estate Development. For more information, please call: 702-448-4962 or email rena@ mcdonaldlawgroup.com

Local Housing Statistics Local Housing Statistics N ews

Southern Nevada housing market looking a lot like the summer weather.

housing market report released today by the Greater Las Vegas Association of REALTORS® (GLVAR) looks a lot like the summer weather in Southern Nevada, with local home prices continuing to heat up from last year at this time while the housing supply stayed desert dry. GLVAR reported that the median price for existing singlefamily homes sold in Southern Nevada through its Multiple Listing Service (MLS) during June was $290,000. That’s down 1.7 percent from the previous month, but up 12.7 percent from $257,373 in June of 2017. The median price of local condos and townhomes sold in June jumped to $167,000, up 30.5 percent from the same time last year. Local home prices have been approaching record levels. According to GLVAR, the median price of existing single-family homes sold in Southern Nevada peaked at $315,000 in June of 2006. Prices hit a post-recession bottom of $118,000 in January of 2012. “Despite a slight dip in June, our home prices have been on a steady climb since 2012. If this trend continues, by later this year, we could hit the all-time median price that we hit in 2006,” said GLVAR President Chris Bishop, a longtime local REALTOR®. “Affordability is becoming a bigger issue, especially for first-time buyers. Then again, if you’re coming from a more expensive market like California, then our prices still seem like a bargain by comparison.” Since the local housing market usually heats up in the summer and since the local economy and population are growing, Bishop said increasing demand could put more pressure on the already short supply of available homes. Southern Nevada now has less than a month and a half supply of existing homes available for sale when a six-month supply is considered a balanced market. By the end of June, GLVAR reported 4,335 single-family homes listed for sale without any sort of offer. That’s down 16.2 percent from one year ago. For condos and townhomes, the 822 properties listed without offers in June represented a 28.6 percent increase from one year ago.

“Hopefully, we can keep up with that demand,” Bishop said. “But for at least the rest of 2018, I think we’ll be playing catchup.” He said the tight supply also seems to be dragging down local home sales – which may be hard- pressed to match last year’s total after increasing each year for the past few years. The total number of existing local homes, condos and townhomes sold during June was 4,087. Compared to one year ago, June sales were down 8.9 percent for homes, but up 4.8 percent for condos and townhomes. GLVAR reported that 22.9 percent of all local properties sold in June were purchased with cash. That compares to 27.2 percent one year ago. That’s well below the February 2013 peak of 59.5 percent, indicating that cash buyers and investors are still active in the local housing market, but have been playing a much smaller role than they were five years ago. At the same time, the number of so-called distressed sales continues to decline. GLVAR reported that short sales and foreclosures combined accounted for 2.6 percent of all existing local home sales in June, down from 6.3 percent of all sales one year ago. These GLVAR statistics include activity through the end of June 2018. GLVAR distributes statistics each month based on data collected through its MLS, which does not necessarily account for newly constructed homes sold by local builders or homes for sale by owners. Other highlights include: The total value of local real estate transactions tracked through the MLS during June was more than $1.1 billion for homes and nearly $147 million for condos, high-rise condos and townhomes. Compared to one year ago, total sales volumes in June were up 4.3 percent for homes and up 30.5 percent for condos and Homes and condos continued to sell faster than last year at this time. In June, 89.1 percent of all existing local homes and 91.2 percent of all existing local condos and townhomes sold within 60 days. That compares to one year ago, when 83.3 percent of all existing local homes and 87.2 percent of all existing local condos and townhomes sold within 60.

July/August 2018 | Las Vegas Agent Magazine

Housing NEWS N ews

Greater Las Vegas Association of REALTORS® June 2018 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

Condo/Townhouse Units

Change from Change from Jun 18 May 18 Jun 17 9,153 +0.9% -14.8% 329,900 +1.5% +10.9% 484,509 -0.3% +11.5%

Jun 18 1,940 164,987 188,658

Change from Change from May 18 Jun 17 4,335 +5.3% -16.2% 394,000 -0.3% +10.1% $ 634,196 -2.1% +10.9% $

Jun 18 $ $

Change from Change from May 18 Jun 17 3,892 -1.3% -0.9% 310,000 +0.0% +12.7% $ 390,852 -2.9% +11.3% $

Jun 18

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

$ $

Change from Change from May 18 Jun 17 3,265 +4.0% -8.9% 290,000 -1.7% +12.7% $ 337,969 -0.8% +14.5% $

Jun 18

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

Jun 18 74.7% 14.4% 5.1% 2.0% 3.8%

May 18

Jun 17

73.6% 13.6% 5.6% 2.4% 4.8%

Jun 18 822 164,900 196,924 Jun 18 929 170,500 184,778 Jun 18 822 167,000 178,224

Change from Change from May 18 Jun 17 -0.1% +12.3% +3.1% +17.9% +1.2% +13.8% Change from Change from May 18 Jun 17 +2.9% +28.6% +3.1% +3.1% -0.6% +1.7% Change from Change from May 18 Jun 17 +2.4% +20.0% +3.3% +21.9% +3.4% +12.3% Change from Change from May 18 Jun 17 +9.6% +4.8% +4.4% +30.5% +5.2% +24.5%

Jun 18

68.5% 14.8% 6.6% 3.8% 6.3%

May 18

77.7% 13.5% 4.3% 1.9% 2.6%

Change from Change from Jun 18 May 18 Jun 17 $ 1,103,467,384 +3.2% +4.3% $ 146,500,294 Jun 18

Jun 17

78.1% 13.3% 4.0% 1.6% 2.9%

74.6% 12.6% 5.1% 3.3% 4.3%

Change from Change from May 18 Jun 17 +15.3% +30.5%

Source: Greater Las Vegas Association of REALTORS® 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®.

*This category reflects the existing market availability of listings without pending or contingent offers. Source: Greater Las Vegas Association of REALTORS® For media inquiries, please call George withof REALTORS® B&P Public Relations, at (702) 325-7358. Greater LasMcCabe, Vegas Association Statistics

Greater Las Vegas Association of REALTORS® Statistics

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 Sold in Period but is not guaranteed. MLS collects, compiles distributes about for sale by its subscribers who are real estate agents. MLS subscriptionUnits is available to all Availability Without Pending Or Contingent Offers Sold in Period [ and End Of information Period ] homes listed Thousands

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 End Of Period 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, 4000 Nye, Lincoln14 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 Single Family 3500 12 REALTORS®. Residential Units

10 8 6 4 2 0

Condo/ Townhouse Units

3000 2500 2000 1500 1000 500 0

Month

Condo/ Townhouse Units

Month

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 About

the theGLVAR GLVAR

Single Family Residential Units

homes listed for sale by its subscribers who are real estate agents. MLS subscription is available to all real estate agents licensed in GLVAR GLVAR was was founded founded in in 1947 1947 and and provides provides more than 11,000 local local members with with education, Nevada,its but its ismore not available to thethan general11,000 public. Not all licensed agents members subscribe to the MLS. MLS does noteducation, 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 training training and and political political representation. representation. The The local local representative representative ofof the the National National Association Association of of areas as from time to time may be allocated to the GLVAR by the Board of Directors of the National Association of REALTORS®. REALTORS®, REALTORS®, GLVAR GLVAR is is the the largest largest professional professional organization organization in in Southern Southern Nevada. Nevada. Each Each GLVAR GLVAR member member receives receives the the highest highest level level ofof professional professional training training and and must must abide abide byby aa strict strict code code ofof ethics. ethics. For For more more information, information, visit visit www.HomeLasVegas.com www.HomeLasVegas.com oror www.lasvegasrealtor.com. www.lasvegasrealtor.com.

Las Vegas Agent Magazine | July/August 2018

Local Housing Statistics Local Housing Statistics N ews

July/August 2018 | Las Vegas Agent Magazine

SOUTHERN NEVADA HOME BUILDERS ASSOCIATION

N ewsletter Building Permits, U.S. and Regions Building Permits, U.S. and Regions

2013 2014 2015 2016 2017 2017 - Jun Jul Aug Sep Oct Nov Dec 2018 - Jan Feb Mar Apr May Jun

U.S. TOTAL 991 1,052 1,183 1,207 1,282

ONE UNIT 621 640 696 751 820

1,312 1,258 1,300 1,254 1,343 1,323 1,320 1,366 1,323 1,377 1,364 1,301 1,273

813 817 803 831 854 864 877 870 886 851 863 843 850

2-4 UNITS 29 30 32 35 37 37 42 36 36 35 41 38 45 46 40 41 34 36

5+ MULTINORTHUNITS FAMILY EAST 341 370 107 382 412 119 455 487 162 421 456 117 425 462 124 Seasonally Adjusted Annual Rates 462 499 105 399 441 122 461 497 109 387 423 120 454 489 121 418 459 113 405 443 144 451 496 115 391 437 145 486 526 135 460 501 95 424 458 134 387 423 112

MIDWEST 157 165 171 186 195 212 173 189 189 197 187 220 176 192 203 195 209 170

SOUTH 494 524 573 594 627

WEST 234 244 277 310 336

643 638 634 612 647 660 589 697 617 652 727 625 664

352 325 368 333 378 363 367 378 369 387 347 333 327

SOUTH (8) 464 496 556 585 599

WEST (9) 215 235 265 291 313

For greater detail and analysis of these and other data, go to HousingEconomics.com

Housing Starts, U.S. and Regions Housing Starts, U.S. and Regions Source: U.S. Bureau of the Census, Construction Reports, Series C-20, Housing Starts.

Prepared by Economics Department, NAHB. Available at www.HousingEconomics.com

2013 2014 2015 2016 2017 2017 - Jun Jul Aug Sep Oct Nov Dec 2018 - Jan Feb Mar Apr May Jun

U.S. TOTAL (1) 925 1,003 1,112 1,174 1,203

ONE UNIT (2) 618 648 715 782 849

1,225 1,185 1,172 1,158 1,265 1,303 1,210 1,334 1,290 1,327 1,276 1,337 1,173

860 839 878 831 888 948 847 886 900 882 898 944 858

2-4 UNITS (3) 13 14 11 12 10 7 12 6 12 20 8 4 18 17 13 19 10 11

5+ UNITS (4) 294 342 386 381 343 359 335 286 310 359 347 359 435 372 431 357 381 304

MULTINORTHFAMILY EAST (5) (6) 307 97 356 110 397 138 392 116 354 111 Seasonally Adjusted Annual Rates 365 160 346 119 294 107 327 101 377 145 355 93 363 88 448 116 390 132 445 120 378 96 393 103 315 96

MIDWEST (7) 150 163 153 182 180 204 161 170 186 200 178 170 145 154 182 160 243 156

530 611 586 543 617 678 594 684 615 630 669 661 601

greaterdetail detail and of of these and and otherother data, go to HousingEconomics.com For For greater andanalysis analysis these data, go to HousingEconomics.com

331 294 309 328 303 354 358 389 389 395 351 330 320

All data are in thousands of units. All data are instart thousands of units. Housing = The start of construction of a privately-owned housing unit is when excavation begins for the footings or foundation of a building Housing startprimarily = The start of residential a privately-owned housing unit is when excavation begins for the footings or foundation of a building intended primarily intended asofa construction housekeeping structure and designed for nontransient occupancy. All housing in a multifamily building is defined as aas housekeeping structurefor and designed nontransient occupancy. All housing in a multifamily building is defined as being started when excavation being startedresidential when excavation the buildingfor has begun. for the building has begun. Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, Connecticut, New York, New Jersey & Pennsylvania. (6) Northeast includes: (7) Midwest includes: Ohio, Indiana, Illinois, Michigan, Wisconsin, Iowa, Minnesota, Missouri, North & South & Kansas. (6) Northeast includes: Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, Connecticut, New York, NewDakota, Jersey Nebraska, & Pennsylvania. (7) Midwest includes: (8)Indiana, South includes: Delaware, Maryland, District of Columbia, Virginia, West Virginia, North & South Carolina, Florida,Delaware, Kentucky, Ohio, Illinois, Michigan, Wisconsin, Iowa, Minnesota, Missouri, North & South Dakota, Nebraska, & Kansas. (8) Georgia, South includes: Maryland, District Tennessee, Alabama, Mississippi, Arkansas, Louisiana, Oklahoma, and Texas. of Columbia, Virginia, West Virginia, North & South Carolina, Georgia, Florida, Kentucky, Tennessee, Alabama, Mississippi, Arkansas, Louisiana, Oklahoma, and (9) (9) West includes: Montana, Idaho, Oregon,California, California,Alaska, Alaska, Hawaii. Texas. West includes: Montana, Idaho,Wyoming, Wyoming,Colorado, Colorado,New NewMexico, Mexico,Arizona, Arizona, Utah, Utah, Nevada, Nevada, Washington, Washington, Oregon, && Hawaii. Source: U.S. Bureau of the Census, Construction Reports, Series C-20, Housing Starts. Source: U.S. Bureau of the Census, Construction Reports, Series C-20, Housing Starts. Prepared by Economics Department, NAHB. Available at www.HousingEconomics.com Prepared by Economics Department, NAHB. Available at www.HousingEconomics.com

Las Vegas Agent Magazine | July/August 2018

SOUTHERN NEVADA HOME BUILDERS ASSOCIATION

N ewsletter

Help the Las Vegas Healing Garden

n October 1st, a senseless act of violence affected the lives of so many Las Vegas residents, but our city's response was to stand together in strength and unity. The Las Vegas Community Healing Garden was built in the span of three days by 500 volunteers and many in-kind donations. The garden features a remembrance wall to honor the lives of those who we lost. Now with overwhelming support from the

victims and City of Las Vegas, nonprofit Get Outdoors Nevada would like to make the wall a permanent fixture in Nevada. The new Community Healing Garden will feature 5 panels with durable material. One panel will display a water feature, three panels will retain wooden elements that images and messages can be attached and the last panel will incorporate 58 crystals to honor the 58 lives lost. There will also be a 6-foot tall blue stone angel

wings donated by a New York artist. SNHBA has contributed to this project, and although most of project will be donated in-kind, they still need help. If you would like more information, or to be involved in this project, please reach out to Mauricia Baca, Executive Director, Get Outdoors Nevada at mbaca@ getoutdoorsnevada.org or 702-997-3350. www.GetOutDoorsNevada.Org

Rendering by: SH Architecture

July/August 2018 | Las Vegas Agent Magazine