All Forum Posts by: Robert Adams

I just wanted to introduce myself. Several of you already know me as I have been posting in the free sections for a few years now. Decided with the new year and our team growing that it is time to take out some paid memberships and bump up our paid marketing this year.

My wife Angela and I started the Adams Team at Rothwell Gornt Companies here in Las Vegas. She and I handle the buying and selling on our team and our partner Kalani Lewis handles all of our rental listings and showings. We also have an in-house property manager named Marc Gisi should anyone require property management services.

I do the majority of the marketing for our team and have a presence on most of the big real estate related forums, etc. You can find the online communities we participate in on our "About Us" page of our site or check out our BP profile.

We have around 15 deals in escrow right now. 3 of them we are representing the buyers and they are going to cancel for various reasons (ex. poor health, already bought another property, etc). The 3 properties have the below listed purchase prices:

1. $325k with lender approval at $325k

2. $45k with seller acceptance but waiting on lender approval. Comps for $63k

3. $185k with seller acceptance but waiting on lender approval. Comps around $200k

If you are interested in us representing you as the buyer on any of these 3 deals please email me directly. We can work with the bank and the listing agent to get your offer swapped out for the existing buyer's offer. We will switch out the name and leave the rest of the terms the same. If you are interested in the details of these properties/delas we will need you to sign an exclusive buyer agreement for the specific properties you are interested in. This is not a commitment to use us as your buyer's agent for all deals. It simply means we are representing you if you buy these specific properties within a specific time period. We have done a lot of leg work to get these deals and we are simply protecting ourselves so we do not get cut out of the deal.

Also, we currently have rental properties that we are looking for qualified tenants. What is the best way to market rental properties on this site? You can see the rental listings here (I hope it is acceptable to put a link to them): http://lvrealestatehelp.postlets.com/

Thank you all very much in advance for your time! If anyone has any advice for a NEW paid member please let me know. I look forward to hearing from you and getting to know you all better.

Thanks!

Will I agree AB284 is not the ONLY reason, however, it is the MAIN reason.

How old is your existing flooring? If it is too old you will not be able to collect for it as they will say it is natural wear and tear and that it needs to be replaced anyways. If it is newer than that is a different story.

We have a huge shortage of REO's in Las Vegas right now. The main cause is AB284 which made it very difficult for banks to foreclose. Since this bill was passed in Oct. 2011 inventory has been disappearing.

With the inventory disappearing and demand increasing it has cause bidding wars and a strong seller's market here.

It will be very interesting to see what happens next month when the bill is reconsidered. The attorney general here loves this law as it effectively stopped the robo signing fiasco. However, it has caused other problems.

I do not expect the law to be totally done away with (although it is possible) but I do expect some type of amendments to allow certain types of foreclosures to resume.

Either way when this new inventory hits the market I believe the market will soften. To what degree it will soften is up for debate.

I hope this is informative.

Jon Holdman the subject line was not "its a flat 3.8% tax on the net amount of the sale, like sales tax on a car." Or anything remotely close to that. I find it offensive that you think I am trying to spin something here. Just curious what do you think would be an "acceptable" subject line. So I can avoid being a "spinmiester" in the future?

"Or any other new tax for that matter!!!"

AGREED!

Will Barnard that makes sense if Jon was talking about others in media ad politics (and my apoligies to Jon for the confusion). I could not agree with you more Will. They take/tax more and more instead of cut the wasteful over spending. I would not mind paying more if they would actually do more. It seems like they tax more and do less. And for that reason alone I don't agree with this new tax.

Keith Lutz agreed as an RE agent I would not advise any client on their taxes, but I do think it is worth a discussion here in an open forum. I am in no way advising anyone on their taxes but rather discussing whether it will actually go into effect and what others opinions are on this new tax. Good link for everyone to read! Thanks Keith!

lol

Phillip Dwyer I was not at the event. I agree that is highly unlikely they will revise AB284 but I do believe the banks will find some loop hole/work around to start getting off of their inventory again. I have heard rumors of the banks talking about this sort of thing but nothing concrete yet. I also agree with your comments about the uptick in retail etc as a result from the stabilization in the market but I believe it is not a solid representation of the real estate market as the inventory is artificially low. However, even with that being said I still think things are headed in the right direction and will continue to head that way even if the banks do start to release more inventory in one form or another. I would like to see them release more inventory so we have healthy growth and not this over inflated growth we have now.