Commercial Real Estate Is Moving In A Positive Direction In Las Vegas

Look around the Las Vegas Valley, strip malls have more retail spaces filled (just a few years ago they were vacant).  The Boulevard Mall has converted space for offices that were once retail stores. The conversion of retail spaces in the mall to call centers has been very successful largely due to amenities in the mall and readily available parking.  In Downtown Summerlin the second office tower (Two Summerlin) is well on the way to be completed with lots of interest in available spaces.

Daniel Palmeri, senior director at Cushman and Wakefield stated “We’re kind of seeing a westward movement of companies looking to be in Summerlin or the west side of town.” Brian Gordon, principal at Applied Analysis, stated “The general feel is that the economy is remaining relatively healthy, and we’ve moved beyond the effects of the past downturn and looked more toward growth in the future.”

We are seeing a lot of new segments being added to the Las Vegas economy – Major League sports, the tech industry and an increase in tourism. The Golden Knights have already made an impact on the economy and the commercial real estate market.  There are more retail stores thriving around the T-Mobile Arena and adding employment opportunities.  The Raiders will be in Las Vegas by 2020 and more retail and office space will be filled by their employees.

The tech market has seen an increased local presence of national companies, as well as the acquisitions of local startup companies. This has made Las Vegas a credible hub for technology companies with more opportunity for upward movement for local tech talent and a good reason for more tech talent to move here.

Current Las Vegas market trends data indicates an increase of +2.8% in the median asking price per sq ft for office properties compared to the prior 3 months, the current median price of $176 per square foot in Las Vegas.  In the industrial market the median price is now $118 per square foot and retail space prices are still rising at a slower pace.

Do you need commercial space? We can help you with that… just call us at 702 SELL NOW or click on this link to my website http://www.702SellNow.com

Choose to have an amazing day…..Jeff

The Symbiotic Relationship Between The Golden Knights And The City Of Las Vegas

VegasGoldenKnights

Before October 2017 the hockey world was waiting to see the new expansion team The Las Vegas Golden Knights.  It’s now six months later and Las Vegas is rejoicing – not only is the team on the road to the Stanley Cup in its first year (a first in hockey) – the team has won the hearts of fans all over the Las Vegas Valley.

The members of the Golden Knights give back to the community with charitable works and special appearances at all sorts of events. Through the Golden Knights Foundation, the team, coaches and staff support Las Vegas non-profits that make a difference every day. These funds come from corporate sponsorships, ticket sales, signature events, in-game programs, and merchandise sales. The Las Vegas Golden Knights are the first professional major league sports team in our city and they embrace their duty to strengthen and inspire our community – and have succeeded – the residents of Las Vegas LOVE “their Knights”.

vegasknights on the ice

The fans can watch the Golden Knights practice at the City National Arena in Summerlin. The Knights have “ice time” practice most days from 11 a.m. to 2p.m. and it’s free and open to the public.  For more information contact City National Arena guest services.

The fans at the practices are so pumped up they fuel the team and the team is so in touch with the fans  – all that energy ends up with winning games for the fans and team alike.  This year has truly been remarkable and it’s not over yet. I am so smitten – I just got season tickets for next season! See you at the game!

Second round of playoff games started this week – so channel your energy to the team and we will see how far the Golden Knights go – can you say “Stanley Cup”?

Click on this link to my website http://www.702SellNow.com

Choose to have an amazing day…..Jeff

Ridgebrook 4th Annual Garage Sale – Saturday April 28

 

The community of Ridgebrook is having their 4th Annual Garage Sale on Saturday April 28 from 8 a.m. until noon.  Unlike some parts of this country, we are in the middle of spring in the Las Vegas Valley – spring cleaning is well underway and that means lots and lots of great stuff will be for sale – COME AND GET A GREAT DEAL!!!!

A good garage sale has two important components – one: great merchandise and two: lots of people looking for a great deal.  Well we have incredible diverse items to buy! That means you have to come to Ridgebrook.  Driving here is easy. From Town Center, take Desert Inn west, go over the 215 and take the first left.  There will be a park with kids handing out maps of homes that have great stuff for sale.

The Village of Ridgebrook is one of the smaller villages that are part of the award winning master-planned community of Summerlin and located near the Ridges.  There are four beautiful neighborhoods in Ridgebrook that circle a lovely park.  There is Echo Ridge, Granite Peaks, Sunset Ridge and Southstar.  The area is family-friendly and located close to the 215 Beltway – so you can get anywhere in the valley quickly.  Ridgebrook is also very near Downtown Summerlin – a retail, restaurant and entertainment destination.  Plus home of the Golden Knights training facility (they love when fans come to cheer then on when they are training).

click on this link to my website http://www.702SellNow.com

Have an amazing day………Jeff

 

Professional photos make a big difference

iPhone pictures are great for selfies, but get it done right when selling your house, or lose money & time on the market.

A homeowner (let’s call her Mary) was recently interviewing an agent from another brokerage and before signing any paperwork, Mary was speaking to Bob on my team about the process. Bob knows Mary personally (but not as well as the other agent), and was working on getting us an interview. Mary was convinced that she intended to hire this other agent and did not need to interview us, so Bob offered her a list of questions to ask. (We provide this list to anyone, anywhere who would like it – just click here to download it FREE).

One of the questions asks if the agent being interviewed intends to use a professional photographer. You can google the benefits of using a professional photographer in real estate here.

All of our research, as well as our experience (and our eyes) tells us that unless the house is in dire need of extensive rehab, professional photos will put additional money in the homeowner’s pocket. Studies vary on the amount, but from everything I have read, it can be as little as $900 and as much as $19,000 and averages around $3,400. Can you imagine the vacation you could take with all of that extra cash? Listings with professional photos also get more many views online and sell faster according to these studies. Yet, when asked by Mary if she intended to use professional photos, the agent being interviewed said “don’t waste your money”.

Wow!! And if she took that shortcut, what other shortcuts is she going to take that will cost Mary an additional $1,250, plus $2,275 plus $8,400 plus ????

Mary’s listing went active recently and the photos of the “highly upgraded” kitchen, as well as the laundry room and 2 of the bedrooms are extremely blurry. Mary is seen in 1 of the photos from behind, her dog’s butt is in one of the photos (just the butt prominently displayed). 90% of buyers begin their home search online, by looking at these photos, and I can tell you from experience, they often opt-out of visiting houses that have bad photos. If the agent you interview does not intend to hire a professional photographer, show them the door and call us right away at 702 SELL NOW. Even if you are not in the Las Vegas area. We will help you find and interview a competent agent anywhere in the country for FREE. We can’t stand it when lazy agents get hired to sell houses and cost the homeowner thousaands and of dollars, as well as time on the market.

Footnote: In a fascinating turn of events – as I was writing this post, a client of mine called me about a house we saw yesterday. When I asked her what she thought of the home, she said that the kitchen was actually nicer than the photos showed (can you guess why?)

New Rules for Short Term Rentals in Las Vegas

Any landlords that wish to offer short term rentals through services such as VRBO, AirBnB & Homeaway are required to comply with Las Vegas Municipal Code Section 6.75.

To read the entire statute, click this link; https://goo.gl/bAwu5x

Here are what I feel are the highlights;
On June 21, 2017, the Las Vegas City Council passed Bill No. 2017-16 by a vote of four to three, requiring that all short term rentals be required to obtain a special use permit prior to commencing operations.
First, the owner must apply to the City Planning Department for that permit for each separate unit. Then, have the property inspected to verify the number of bedrooms and compliance with safety and other minimum housing requirements. Once the Conditional Use Verification is approved, the applicant is also required to submit a business license application and affidavit to Business Licensing by the next business day.

In order to secure the permit, owners are required to produce proof of liability insurance for $500,000.00 and install letter-size placards outside the properties with contact information and maximum allowed occupancy. Any until with more than five bedrooms is now required to maintain a resident manager on site during the term of the rental.

Other provisions of Municipal Code Section 6.75 state that the owner must collect and remit Room Tax and it appears you cannot require a minimum number of nights – even over big events like New Years Eve.

If you have a short term rental and don’t want to deal with the new rules, we will sell it for you quickly! Just call us at 702 SELL NOW (702-735-5669)

3 ways to make your home more appealing for under $50

I know it’s cliche, but you really never get a 2nd chance to make a 1st impression, so take a few minutes and a few bucks and make a great 1st impression!

I know it’s cliche, but you really never get a 2nd chance to make a 1st impression, so take a few minutes and a few bucks and make a great 1st impression!

Boost #1: Front door
Clean all of the cobwebs out and givie it a fresh coat of paint. Maybe even brighten it up by painting it a brighter-than-usual color, like red or blue. Pick a color that will stand out but also complement your home’s exterior. Be sure to ask permission from your HOA, if you have one.Keep in mind people stand at your front door while waiting to come in and they look around the whole time they are waiting.

Boost #2: Highlight your front porch
Many homeowners use their backyards for outdoor living and forget about their front porches. Even if you personally never sit on your front porch, adding a little furniture can help future homeowners envision themselves in your home before they ever step foot inside. Some inexpensive, secondhand wicker furniture and bright pillows will make even a small front porch look enticing. Maybe even add a small table.

Boost #3: Lighten up
Potted flowers brighten up the space and are very welcoming. Get a few from your local nursery, and of course, don’t forget to water them.

DON’T run out and GET MARRIED (yet)!

Planning your wedding without planning your future is planning for disaster. Take some time to set yourself up to win!

All partnerships should be planned well, and the LGBT community has been waiting for this news for so long, that many will not think about all of the financial consequences of their timing and we have all done things quickly and passionately and later said “I wish I had thought that through better”. Getting married is about planning a life together, so ask your partner, “do we want to buy a home?” If the answer is “yes”, then the next question should be, “when?”.  Then go and talk to a mortgage specialist to find out if you should get married first or buy a home first.

Why? Here is a real scenario that happened to one of my clients; Gina was about to buy her first house, with her dad co-signing. Gina was dating Brad at the time. We were about 2 weeks from closing the deal when Gina and Brad, decided to suddenly get married without telling anyone. Now I don’t care that they did not tell their parents or their friends, but they did not tell their Realtor or Loan Officer. Guess what? Brad had bad credit. Gina could buy the house easily unmarried, but as soon as she married someone with bad credit, they hit a huge stumbling block. Had they just asked a couple of questions before they tied the knot, they could be married and living in the house that they owned together (Community Property State). If he had good credit and IRS liens, it would have been the same result!

I read a blog yesterday that said that Friday’s Supreme Court decision will make it easier for the LGBT community to get mortgages, now that they can get married. What an ignorant statement! Mortgage lenders cannot discriminate for or against married couples and unmarried people have been buying homes for years successfully. Sometime they are able to do it because they are unmarried! (one get’s a mortgage and then puts the other on Title after the close of escrow) **

Love is great! I a huge fan! And planning a life together should involve a good plan. By the way, I’m sure their are other financial considerations 2 people should consider in their plan . . . this is just the biggest one that I can think of at the moment.

If you are in Nevada or California, Call Tracy Logan with W.J.Bradley Mortgage Capital. She is a rock star! 866-563-0727

** By the way, if one of you has IRS liens, do not put that person on Title even after the close of escrow, or you will not have a happy relationship, and in certain states, you would want to pay the IRS liens before getting married.