John's Blog

REO - Condo - Garage - 2 Bedroom - $100,350

John Calvert (Desert Sun Realty) — Thu, 15 May 2008 15:33:41 -0500

771 APPLE TREE CT
HENDERSON, NV 89014
MLS# 815000

$100,350
2 Bed, 2 Bath

Located in the heart of Green Valley / Henderson. Upstairs unit with 1 car garage. 2 Generously Sized Bedrooms. Large Balcony. Custom Paint. Hurry, This One Won't Last Long!!! Bank Owned / Sold As Is

Where have I been?

John Calvert (Desert Sun Realty) — Sat, 29 Dec 2007 11:23:15 -0600

I have been so busy with the REO side of business I haven't had any time to write. Lately I have been getting 30-50 Broker Price Opinion requests a week. Add to that the 20 something clients I am still working with and sitting still long enough to write on the blog is a dream.

Just wanted to share somehting that I haven't seen in a while. Multiple offers on houses. I have a few clients in the sub $200K range who have been looking and we have been writing offers on REO listings. We are looking at properties that have just been listed and by the time we get back to the office and I cal lthe agent there are 4 to 5 offers on the property and the bank is going to counter with the "best and highest" counter offer scenario.

Scared me at first as I had flash backs of a few years ago. Then I realized that actually this could be a good thing, that maybe this is the bottom of the market. The homes we are looking at are 3+ beds, 2 baths, 1 car garage or larger and built in the 2000's.

I still hear buyers saying they want to wait for the market to hit bottom before buying. If I were to show one of these houses and the people I was with said that they wanted to wait for the prices to hit 150,00 I would probably have to tell them they are not likely to find a house. At 185,000, we are seeing multiple offers on the properties I am looking at.

Well got to run. Told you it would be quick. ;P

John Calvert

Desert Sun Realty

I've moved!

John Calvert (Desert Sun Realty) — Fri, 19 Oct 2007 10:48:01 -0500

It is official. I have now moved my real estate license to Desert Sun Realty.

I willl be working directly with the broker, Bret Runion, who has a team of 3 assistants, a dedicated property manager, a special division (I can't talk about yet) that I and one other is involved in and 3 or so other agents that work independantly.

The brokerage may be small but they are one of the most professional groups I have ever seen.

A little bit about Bret and why I have wanted to work with him:

Broker / Owner Desert Sun Realty - 20 years
One of the top 25 Real Estate Professionals in Southern Nevada
Closes 120+ transactions a year
Over 90% of business is referal or past clients
UNLV B.S. in Business administration 1989
UNLV MBA with Honors 1991
Certified Residential Specialist (CRS) - Less than 5% of all Realtors have earned this designation
Graduate, Realtors Institute (G.R.I.)

On top of that, the office is located in my hometown of Boulder City. No more 30 minute commutes for me. :)~

Although I will miss a lot of people at C21 MW, I am looking forward to increasing my knowledge, taking my business to the next level and for once working with someone who is interested in my success. MW was great for what it is, but as with all large brokerages that I have worked for, there are just too many people that a broker has to manage and to get one on one interaction is near impossible.

I look forward to serving my exsisting clients with a higher level of service and if you are looking to work with one of the top agents in the Southern Nevada Area, give us a call.

Has Las Vegas Real Estate Hit Bottom?

John Calvert (Desert Sun Realty) — Wed, 19 Sep 2007 17:12:24 -0500

I was just reading Richard Lee's latest article that says less than 30 units separate total sales figures for the last four months. This usually signifies the bottom of the market, however he also noted that until we see the upward swing, foreclosures are going to be the reality.

To go along with that, today's news of the fed lowering interest rates by 1/2 % is good news for all in Las Vegas wondering what is going to happen next.

As Richard says, September data is what we are truly waiting for to read the future. Of course, they won't be available until October.

On a similar note, for those waiting to buy until the market levels, or bottoms out or whatever you call it... I had 16 out of 24 people thru my last open house that are approved, have money available for down payment and ready to buy. That seems like a good indicator to me that the market is bottomed/bottoming out.

$150,000 Condo - Reduced $25,000!!!

John Calvert (Desert Sun Realty) — Thu, 13 Sep 2007 15:51:42 -0500

REDUCED $25,000!!!!

Recently updated with new faucets and granite counter tops in the kitchen and bathroom. Soaking/ garden tub. All new ceramic tile with diagonal layed tile in the kitchen. Stainless fridge, stove, dishwasher & microhood. Custom paint in living room. Ceiling fans in master and living room. Formal dining area. Seperate laundry room off of kitchen with storage.

1 Bed, 1 bath, 775 sq ft with balcony and storage. Custom paint in living room.

3 miles to the strip, 6.7 miles to Mc Carran Intl Airport.

This is a pre-foreclosure. Sellers loss is your gain. Willing to do down payment assistance.

City Center Power Bill.

John Calvert (Desert Sun Realty) — Thu, 30 Aug 2007 18:36:12 -0500

I got this info from one of my title reps. I am still trying to validate the numbers. Although they seem quite high, this very well could be correct....

Daily power bill - $300k

1/3 of buyers are local. 1/3 from California.

They estimate 20 to 30% of their buyers will live there full time.

Avg price is $1,600 per sqft.

$1.4 billion in sales so far

Construction cost is about $4 million dollars a day and will increase to $7million per day! (WOW)
Currently 4000 men working on the job site. This will be increased to 7000 in March

They have a seven person team that does nothing but obtain building permits.

There are 26 months left of construction.

Closings to begin in August 2009

Mandarin to begin closing in Sept 2009

Veer to begin in October 2009

Hotel Casino expected to open in Nov 2009.

$175,000 condo 3 miles from the strip w/ strip view.

John Calvert (Desert Sun Realty) — Thu, 30 Aug 2007 17:26:53 -0500

1 Bed, 1 bath, 775 sq ft with balcony and storage. Custom paint in living room.

3 miles to the strip, 6.7 miles to Mc Carran Intl Airport.

This is a pre-foreclosure. Sellers loss is your gain. Willing to do down payment assistance.

Free Lunch for MoneyWorld Agents.

John Calvert (Desert Sun Realty) — Thu, 30 Aug 2007 13:50:20 -0500

Villas at Solera @ Anthem

Century 21 MoneyWorld Agents

Thursday, August 30, 2007, 12:30-1:30.

Meet at East Side Office at Noon and we will carpool.

Presented by Del Webb

Chuck Prindiville - 204-3752

Properties listed 20-40% under market value.

John Calvert (Desert Sun Realty) — Tue, 21 Aug 2007 19:25:43 -0500

I've discovered a search method to find properties in Las Vegas that are listed under market value (Comps) and even quite a few that are under a recent, 3 month or less, appraisal or under comparable sales in the last 3 months. I am using the 3 month guidline as I am seeing that more and more lenders are tightening up their appraisal guidlines to only allow comps from within the last 3 months.

Some examples:

Priced at 849,000 - Appraised at 1.1M. That is about 23% under. I even talked to the appraiser and he will still put it at an easy 1.1M today, 3 months later. That is a purchase, not a refi appraisal.

Priced at 510,000 - 680,000 appraisal 1 year ago and appraiser said she would put it at 630,000 this year putting it at about 6k away from 20% under.

Priced at 349,999 - Comparable sales in last 3 months at 535,000 puts this home 33% under comparable market value.

Yes, some of the homes I am pulling up are short sales which will have to be approved by the bank but most are not. They are simply sellers who have owned their home since before the boom and don't have to clear the inflated prices that were paid over the last 2 years. This allows them to price their homes agressively and sell them quickly rather than having to hold out for a purchase price that will let them clear what they owe and break even.

As we gear up for the upswing of the market, these homes represent a chance to buy at the low end or possibly lower with the ones that are 30% and under, and have a better chance at retaining or making equity in a purchase.

How am I finding these properties, what is my motivation and why am I putting these searches together? My big money investors who stopped calling me for the last year and a half are coming out of the woodwork and picking up any and everything under market by at leastt 20%. When my big money investors talk, I REALLY listen.

If you are looking for properties like these let me know and I will add you to the list. I have found them from just under 200,000 to over $3,000,000, all with at least 20%.

www.johncalvert.net www.lvfsboinfo.com www.whymyhomedidntsell.com

Why it's Time to buy in Las Vegas.

John Calvert (Desert Sun Realty) — Tue, 21 Aug 2007 17:46:46 -0500

The GLVAR (Greater Las Vegas Association of Realtors) came up with some great points on why now is a great time to buy in Las Vegas.

Mortgage interest rates remain at historically low levels, effectively lowering the cost of buying a home. It is not clear when interest rates will begin to rise. However, economists and other experts generally agree that rates are unlikely to fall significantly in the near future.
Southern Nevada's economy remains stronger than most metropolitan areas, with steady job and population growth. According to Las Vegas Perspective, Clark County added more than 96,000 new residents in 2006. This bodes well for the long-term strength of the local housing market. The Las Vegas valley continues to be a leader in job creation and has one of the lowest unemployment rates in the nation. Over the next three years nearly 20,000 hotel rooms will be added to our city, representing approximately 4 1 billion dollars worth of new construction. Of course, these economic factors fuel demand for housing and offer more opportunities for newcomers and existing residents to own their own home. For every hotel room added, the Las Vegas Convention and Visitors Authority estimates 1.8-1.9 new employees will be needed.
Recent increases in foreclosures present opportunities for buyers as well. When lenders are forced to foreclose on a property, they typically are motivated to sell that property as quickly as possible to recoup their investment. This presents bargains for buyers.
The unprecedented housing boom of a few years ago may never be duplicated, but Southern Nevada still offers attractive real estate investment opportunities. Examples include high-profile residential properties being built as part of MGM MIRAGE'S Citycenter and similar billion dollar developments on and near the Las Vegas Strip.
The history of the local housing market suggests long-term growth. More than most markets, the history of steady housing and real estate appreciation in Southern Nevada suggests the value of property will rise as long as the nation's boomtown continues to grow. All markets are cyclical. But with privately owned land being scarce in the rapidly growing Las Vegas area, history and the laws of supply and demand suggest that prices will appreciate in the coming years.
Americans have never been more informed about the housing market than they are today. However, one byproduct of the well-publicized national real estate boom is the temptation to view real estate as a short-term investment, similar to the stock market. This perception has had unhealthy impacts on the housing market. The GLVAR believes buying a home is a long-term investment and should be thought of that way.

These points compound on top of my own thoughts and I am happy to see that the GLVAR is using the same sources as I am to view what the market is and will be doing. Looking at other sectors, such as tourism, new construction on the strip, the LVCVA, foreclosures and economist input. Simply relying on the MLS for information on the market is a good way to miss the bigger picture.

www.johncalvert.net www.lvfsboinfo.com www.whymyhomedidntsell.com

Las Vegas Resident and Visitor Population forecast graph.

John Calvert (Desert Sun Realty) — Mon, 20 Aug 2007 17:26:56 -0500

If you know about Las Vegas Real Estate you will know the name Richard Lee. Since 1989, Lee has been guiding the real estate community on development and growth. He advises developers, investors, business owners and gaming companies on opportunities and acquisitions. Richard is the Vice president and director of public relations for First American Title Co.

If any of you were at the "Best of Las Vegas" awards on Saturday night you saw that our Richard Lee got the "Visionary" of the year award.

Here is a graph sent to me by my title rep at First American Title showing historical data from 1980 to present and forecasting data for resident and visitor population to 2035.

Update on Sunday Hudson and Marshall Auction

John Calvert (Desert Sun Realty) — Mon, 06 Aug 2007 11:48:48 -0500

If you weren't at the Las Vegas Auction on Sunday, August 5th, you missed out on an excellent real estate experience.

I got to the event and noticed that tons of cars were pulling in and that valet was full even @ 11:30 on a Sunday. As I walked in to the event I was talking with the lady next to me as I saw property printouts in her hand. We got to the registration tables and and waited about 2-3 minutes to sign in and get our "paddles". After that we sat and talked, looking over comps I had brought. She asked if I would help her out as it was her first auction so I said sure.

About 12:30 we looked around the corner, as we were sitting on some couches in a lounge area, we saw the registration lines stretching back 10-15 people deep with about 100 people waiting to register. Figuring we should get a seat we walked in and the ballroom was packed. If you have ever seen a Vegas ballroom, you know how big they are. The hotel had already begun moving walls and doubling the size. News cameras were all over the place. Photographers. It was a frenzy.

We snagged the last few seats up front and listened to the live music being performed (A guy with a keyboard playing modern day music ala elevator style).

When the event started I had the area around me fixated on my book of comps. The auctioneer started giving information about how it works and said that each one should be about 2 minutes. 2 MINUTES!?!?! I thought I had a record when I sold my house in a matter of hours of being listed.

As the auction got to the first property I flipped open to the first property and the first set of comps... 40,000 went the first bid. 45, 50, 60, 62.... finally ending up around 70,000. It was fast and furious with everyone around me looking over my shoulder asking what it was actually worth, what it was listed for in the MLS, what the HOA fees were, etc. etc. In the end, the property seemed to go for about 20-25k below the comps. Not knowing the condition, that may have been a great deal.

As the day continued and properties selling in minutes, I started to notice that the homes were selling for around 50k below the list price. On a 300k list price, a sales price of 250K is about a 16-17% discount. Not too bad. Some sold for more of a discount than that and others closer to the list price than I would have wanted to pay.

Some of the 400-600K homes went for discounts of $200K+.

It was definitely a great learning experience and based on the information I had on hand and the questions that were coming to me, I've now got a greater understanding and will be better prepared next time.

Later in the evening, the 10 o'clock news reported on the event and showed interviews with previous auction buyers about the downside of buying a home auction style and the problems that they ran into. I'll write on that subject later.

All in all it was a good time and it went by fast. Let me know if you want to be updated on future auctions and I will keep you informed.

I also plan on putting out a book for the next auction that will have every property along with the comps and other information that I found from being there will be imperative to have on hand. The book I had with me took my assistants and I about 2 days to put together, thus costing me some serious $$ and time so when I do put them together for the next auction, I will be charging a fee for them, as I can't afford to give them away to tire kickers but for those who are serious, refunding the cost when you show up and register with me.

Next auction is in 90 days, with brochures being sent out 30 days before the auction and I should have them 15 days sooner than that.

John at Johncalvert dot net

www.JohnCalvert.net www.LVFSBOInfo.com www.WhyMyHomeDidntSell.com

Foreclosure Auction

John Calvert (Desert Sun Realty) — Thu, 02 Aug 2007 10:25:47 -0500

Man have I been busy. Last Saturday and Sunday I sat at an open house for a home that was getting ready to go to auction this Sunday (August 5th).

There are going to be about 90 homes up for auction this Sunday, all of which are bank owned. The auction company is Hudson and Marshall.

I've never looked at auctions before because I have been under the predjudice that they are not a good deal, agents don't get paid, the process leans in favor of only the seller, etc. Sort of like going to court house steps.

The thing I have found out about these is that

There is no reserve
30 day escrow
2% paid to agents (Doesn't affect bid price negatively)
Seller pays for title insurance (free and clear title is transfered)

Probably some other reasons why I am looking at these differently, but one cool thing I heard is that while sitting at this home in Rhodes Ranch which is listed on the MLS at over $500,000, I ended up talking to an investor who went to an auction a month ago and picked up a home 230k under appraised value. The guy was pretty smart in that he knew it was not worth the appraised value, but that it would be in a few years after the market picked back up. I talk to way too many people who have a refi appraisal and want to sell for the appraisal price. Ain't going to happen bub.

So I am going to be at the auction this Sunday in Las Vegas at 1pm. I have already comped all the properties and have BPO's on about 26 of the 90 right now. I'll have the list with me so anyone who is interested give me a call or an email and I will get you set up. Also, I can represent you and do all your paperwork and provide assistance for no charge.

This is my first auction and I am looking at it as a learning experience, but it should be fun and proffitable for everyone... except, hopefully, the bank!

www.Johncalvert.net www.lvfsboinfo.com www.whymyhomedidntsell.com

Proposed HUD Rule Comment Period Extended

John Calvert (Desert Sun Realty) — Mon, 16 Jul 2007 16:47:24 -0500

I received an update from the Nehemiah program following my last post on downpayment assistance programs in trouble.

Due to significant interest, The Department of Housing and Urban Development (HUD) has extended the public comment period on the proposed rule entitled ‘Standards for Mortgagor's Investment in Mortgaged Property' until August 10, 2007.

If the proposed rule is implemented as currently written, homebuyers using mortgages insured by the Federal Housing Administration (FHA) would be prohibited from accepting downpayment gifts that are indirectly funded by the home seller. This would impact your business by eliminating all privately funded downpayment assistance programs.

The extended comment period ensures that Congress will have the necessary time to properly review the role downpayment assistance programs play in providing access to homeownership for tens of thousands of low and moderate income borrowers each year. Downpayment assistance has been responsible for creating more than 500,000 low and moderate income homeowners since 1997 and we agree that further Congressional review and public comment is necessary before disbanding the programs that have helped so many families achieve the American dream of homeownership, inculding me.

Please submit your comments through the Association for Homeowners Across America website at: http://takeaction.ahaanow.org/

Interesting comment on Southern Nevada Economy

John Calvert (Desert Sun Realty) — Thu, 12 Jul 2007 10:10:55 -0500

Every month I get the UNLV CBER (University of Las Vegas Center for Economic Research) Indices report which contains information on trends, historical data and forecasting on Southern Nevadas economy as well as comaprisons with Las Vegas, Clark County, Nevada and national economic growth.

There was a comment in one of the reports that said:

The CBER Clark County Business-Activity Index has slowed from a strong pace to a more moderate rate of late. In April, the rate was up 0.42 percent from March and only 1.62 percent from the same month a year ago. We attribute continued growth to strong construction along the Strip and near-capacity tourism volume. The recent more modest pace of activity is attributed to the drag in residential construction.

In my experience, Las Vegas has always been at "near-capacity".

What I am wondering is with having such a constant inventory of homes over the last year and no new casinos (big ones), will any of the new casino projects add enough people (employees) when they open to make a blip in the housing radar? Will we actually see a decline in housing inventory?

While new industries and companies are coming to Vegas all the time, and contributing to the economy, are they employing the number of people that a major strip casino will when it opens? I don't know how many employees the mega resorts have. 1000, 2000, 5000? Along with that is the additional positions in local companies that are needed to support the employees and support the casino needs.

It will be interesting to see if our inventory drops and I would encourage others to keep an eye on the housing market when any of these new projects go online.

If you want to see the full report, send me a message and I can email it to you.

www.johncalvert.net www.lvfsboinfo.com www.whymyhomedidntsell.com

Foreclosure Open House Number 2

John Calvert (Desert Sun Realty) — Fri, 06 Jul 2007 17:33:32 -0500

I finally recorded another video podcast from one of the foreclosure, bank owned open houses that I do. This one, unlike the last one, is in need of some repair. SERIOUS REPAIR. I think the previous occupants owned stock in a tobacco company as it smells like they smoked about 7 packs an hour.

This house is located in Henderson off of Sunset and Eiger. It is a townhome with 1200 sq ft, 2 bedrooms upstairs each with their own bath, loft, 1/2 bath downstairs and a decent sized kitchen considering the sq ft. while still leaving a good sized living room and dining area.

It needs flooring, paint, appliances, fixtures, counters and maybe cabinets.

If you want to take a look at this house or any others, I have access to over 25,000 homes, condos and town homes for sale in Las Vegas, Henderson, Boulder City and the rest of Clark County and Nye County Nevada.

www.whymyhomedidntsell.com

My trip to the Kwik-E-Mart

John Calvert (Desert Sun Realty) — Thu, 05 Jul 2007 10:57:34 -0500

Being a Simpson fan, I had to go to the 7-11 that had been converted to the Kwik-E-Mart from the telelvision show. I went to the 7-11 website to locate the one in Henderson and counldn't believe it was up the street from my office.

So Monday afternoon I ran up to it before lunch to see what it looked like. I snapped a couple dozen photos and got a 6 pack of Buzz soda, a WooHoo Blue Vanilla squishee and a box of KrustyO's, all items that can only be found in the show.

If you haven't seen the article or news about this take a look:

http://apnews.myway.com/article/20070701/D8Q41OJG1.html

Although this is pure marketing, if you are a fan of the Simpsons, I'm sure you can appreciate what they did.

Echelon at Centennial Hills

John Calvert (Desert Sun Realty) — Fri, 29 Jun 2007 19:17:18 -0500

I got invited to the first broker event at Echelon at Centennial Hills which is a mid rise in Norwest Las Vegas.

The location offers views of the Las Vegas Strip and surrounding mountains, 15 different floorplans, private terraces, computer alcoves, granite counters, subterranean parking, garden patios, walkways and pools, guard gated entry, a 2 story clubhouse, fitness center and many other ammenities.

The interior appointments include structured wiring system for telephone, cable TV & intra/internet, 50 gallon water heater, alarm pre-wire, soft water loop, decorator coordinated light fixtures, bull nose corners, satin nickle door hardware, raised panel doors, utility area, elevator and trash receptacle locations on each residence level.

Kitchens inculde granite counter tops, european style cabinetry, stainless Bosch appliances, deep dual compartment sink and pre-plumbed for refrigerator ice maker.

Baths also feature granite, Cerma Classico vanity tops, european style cabinetry, glass shower enclosures, water saver showers and toilets and full width mirrors.

Units range in size from 1 bed, 1 bath 1,064 sq ft to 4 bed 3 1/2 bath 4,164 sq ft. Terraces range in size from 120 sq ft to 1,038 sqft.

Current pricing is from 396,990 to 1,577,990.

For more information or to get a virtual tour cd-rom, let me know.

http://www.johncalvert.net/

No Peeking down town Boulder City.

John Calvert (Desert Sun Realty) — Wed, 27 Jun 2007 13:47:02 -0500

Some interesting covered objects are appearing downtown Boulder City. I noticed these today on my way to the office and snapped a few shots while blocking traffic. :)

I'm thinking that being so close to the 4th of July festivities, this must be some statues honoring someone.

I'm just impressed that the city is having fun with the 'No Peeking' sashes that are around them. If they were trying to get us curious, it's worked on me.

Down Payment Assitance in trouble.

John Calvert (Desert Sun Realty) — Mon, 18 Jun 2007 11:18:26 -0500

I bought my first house before I became an active real estate agent. Back then, homes were affordable, the average ones hovering just above the triple digits.

I'd saved the 3% required by FHA for down-payment but didn't like the idea of being newly married, starting a new family, and using most of my savings to get a house thus eliminating a major portion of my savings at the same time.

A REALTOR here in Las Vegas (now my broker) turned me on to the Nehemiahprogram and helped me get my first house without using my savings for down-payment.

Now, my favorite programs are in trouble. If you haven't looked at down-payment programs, such as the Nehemiah program, you really should. It went by the wayside and was almost forgotten a few years ago when housing prices exceeded FHA limits. Now that many of the 100% financing programs (which weren't as strict as the FHA and have helped spike the foreclosure market) have gone away, FHA is back as a viable option for many first time home-buyers. It is also something you use to help get your first time buyers into a house and still sleep at night, since they actually qualified for it.

According to the Association of Homeowners across America, HUD's rule FR-5087-P-01, STANDARDS FOR MORTGAGOR'S INVESTMENT IN MORTGAGED PROPERTY, will eliminate the ability to use down-payment programs.

The HUD rule would:

Force low- and middle-income families into predatory sub-prime mortgages
Affect hard working families including minorities, immigrants, women and single-parent households who are most in need of financial help.
Deny millions of potential homeowners the freedom and stability that comes with owning a home.
Force the government to spend your taxpayer dollars to create a replacement program.

Over the past 10 years privately-funded down payment assistance organizations have:

Helped over one million people become homeowners.
Given $3.8 billion in cash for down payment assistance.
Spurred $11 billion of direct spending with $24 billion of net economic impact.
Never used government money or taxpayer dollars.

Yet, officials at the U.S. Department of Housing and Urban Development (HUD) have proposed a rule that will end these programs.

In this fragile housing market, such a rule would have a devastating impact on families and communities, as well as all the real estate and lending professionals whose livelihoods depend on the sale and purchase of homes.

Check out http://takeaction.ahaanow.org/ahaa/issues/alert/?alertid=9806841. Take a few moments to learn about how down-payment assistance programs can help you. Then sign the petition.

If you are a home-buyer, learn more here: http://www.getdownpayment.com/buyers/

If you are a REALTOR, get information to help your business here: http://www.getdownpayment.com/agents/

Lenders: http://www.getdownpayment.com/lenders/

Sellers: http://www.getdownpayment.com/sellers/

John Calvert

http://www.johncalvert.net, http://lvfsboinfo.com, http://whymyhomedidntsell.com

Glass top patio table.

John Calvert (Desert Sun Realty) — Thu, 07 Jun 2007 17:22:30 -0500

I'm actually LOL right now as I write this.

We have a patio table with a glass top like most people who have a patio and or backyard. We also have a mist system (popular in Las Vegas, water misters that cool the air where it is hot and low humidity for those who are not in the desert). Since we are in the desert and the water is extremely hard with lots of calcium, any water that hits glass and is not wiped up will leave water spots that verge on the edge of permanency.

About the only way to get rid of the spots and make the table desirable to sit at is to use vinegar to clean it. Although it works good and is fairly inexpensive, going thru gallons of the stuff makes you look suspicious to the clerks at the local grocery store as if you have found a new way to manufacture some new illegal drug (you know, the feeling when you buy Sudafed and they make you sign a book to get it and record how much you purchase). That and it leaves the aroma that you live near a pickle bottling plant, which makes VERY interesting conversation with dinner guests.

I was getting tired of this.

Recently whilw I was applying a coat of Rain-X to my car windshield it hit me. I ran to the backyard, bottle in hand and looked at the table. Then the Rain-X. Then the table. Rain-X. Table. Rain-X. Table....

What could it hurt?

So I dumped a bunch on and followed the directions the same as for a car windshield... Repeat, rinse....

I hope you are still interested in the results by now.

4 weeks later and we've been using the misters and kids having water wars. The water still hits and accumulates on the table, but now when it dries, it leaves a white powder (the calcium) and wipes off with a dry towel.

What a relief. Now our guests ask "What happened to the pickle factory?"

Next step the shower doors.

Las Vegas Foreclosure List

John Calvert (Desert Sun Realty) — Mon, 04 Jun 2007 17:51:35 -0500

If you are looking to buy a foreclosure home in Las Vegas, I have set up a search that will email you the latest foreclosures when they hit the market.

The search also let's you log into a personal website for you so you can make changes at anytime such as number of bedrooms, location, size, price, baths, lot size, garage, etc.

To get set up on this daily list of new foreclosure properties in Las Vegas, visit the link below.

http://johncalvert.net/reo/default.asp

Las Vegas Real Estate Stats... Do the math.

John Calvert (Desert Sun Realty) — Wed, 30 May 2007 18:15:36 -0500

I'm going to show you some numbers that will give an idea of what is really happening with the Las Vegas housing market and not a bunch of speculative PR junk. At the end, however, I will do a sales pitch. ;)

25,018 Homes, Condos and Townhomes for sale in the Las Vegas valley (Las Vegas, Henderson, North Las Vegas, etc. not including Boulder City or Pahrump) GLVAR MLS right now.

2,117 solds in the las 30 days.

That gives an absorption rate of 11.82.

What that means is a property listed today should sell in about 11 to 12 months... in a mathematical world where no new listings are taken. Some other factors to consider are area, competition and if more houses are listed. So it is safe to say Las Vegas has a 12 month inventory of dwellings. This is however just an average. It is better to break it down by the type of property and area. SFR, Townhomes, Condos.

I pulled up a random zip code, 89014 to see what it is doing:

358 Listings.

33 solds in last 30 days.

Absorption rate of 10.85.

89014 has a supply of about 10-11 months of listings

Notice that the above is for all property types. Let's look at SFR (Single Family Homes) only. I'm just going to give the results on this one.

SFR Vegas Valley=11.44

SFR in 89014=12.65

So 89014 is taking longer to sell than the Las Vegas average. Possibly because a lot of the listings in this area are over priced. Problem is that a Zip code is a large area spanning a large price and model range.

Let's dig deeper into a subdivision.

SFR in Ventana Canyon = 8.00

Here is an area that is selling faster than the rest of Las Vegas as an average.

If I was giving you a listing presentation, I would say, "Mr. Seller, Las Vegas has an 11 to 12 month supply of homes, 89014 has a 12-13 month supply of homes and your neighborhood has an 8 month supply of homes."

If you want to know how long it will take your home to sell let me know.

Oh, almost forgot. Here is the sales pitch. We can beat those numbers by up to 27%. That's right. Documented proof of a system that will get your home sold on average up to 27% faster than the competition.

Eight Common Ways to Hold Title in Nevada

John Calvert (Desert Sun Realty) — Tue, 29 May 2007 15:39:34 -0500

HOW YOU TAKE TITLE - ADVANTAGES AND LIMITATIONS:

Title to real property in Nevada may be held by individuals, either in Sole Ownership or in Co-Ownership. Co-Ownershp of real property occurs when title is held by two or more persons. There are several variations as to how title may be held in each type of ownership. The following brief summaries reference eight of the more common examples of Sole Ownership and Co-Ownership.

SOLE OWNERSHIP

A man or woman who is not married.
- Example: John Doe, a single man.
An Unmarried Man/Woman:
- A man or woman, who having been manied, is legally divorced.
- Example: John Doe, an unmarried man
A Married Man/Woman, as His/Her Sole and Separate Property:
- When a married man or woman wishes to acquire title as their sole and separate property, the spouse must consent and relinquish all right, title and interest in the property by deed or other written agreement.
- Example: John Doe, a married man, as his sole and separate property

CO-OWNERSHIP

Community Property:
- Property acquired by husband and wife, or either during mattiage, other than by gift, bequest, devise, descent or as the separate
  property of either is presumed community property.
- Example: John Doe and Mary Doe, husband and wife, as community property.
- Example. John Doe and Mary Doe, husband and wife.
- Example: John Doe, a married man
Joint Tenancy:
- Joint and equal interests in land owned by two or more individuals created under a single instrument with right of survivorship.
- Example: John Doe and Mary Doe, husband and wife, as joint tenants.
Tenancy in Common:
- Under tenancy in common, the co-owners own undivided interests; but unlike joint tenancy, these interests need not be equal in
  quantity and may arise at different times. There is no right of survivorship; each tenant owns an interesf which on his or her
  death vests in his or her heirs or devisee.
- Example: John Doe, a single man, as to an undivided 3/4ths interest, and George Smith, a single man as to an undivided 1/4th interest, as
  tenants in common.
Trust :
- Title to real property in Nevada may be held in trust. The trustee of the trust holds title pursuant to the terms of the trust for the benefit of the trustor/beneficiary.
Community Property with Right of Survivorship:
- Community Property of a husband and wife, when expressly declared shall upon the death of one of the spouses, pass to the survivor, without administration, subject to the same procedures as property held in joint tenancy.
- Example: John Doe and Mary Doe, husband and wife, as community property with right of survivorship

The comparison is provided for information only, it should not be used to determine how you hold title. I strongly recommend that you seek professional counsel from an attorney and/or CPA to determine the legal and tax consequences of how title is vested. The preceding summaries are a few of the more common ways to take title to real property in Nevada are provided for informational purposes only. There are significant consequences on how you hold title. I strongly suggest contacting an attorney and/or CPA for specific advice on how you should actually vest your title.

This weekend.... SUMMER STARTS!!!!

John Calvert (Desert Sun Realty) — Fri, 25 May 2007 18:06:12 -0500

Memorial Day marks the traditional beginning of summer and the start of the most popular season in real estate. If you're in the market for a new home, get a jump start by getting pre-approved for a loan by a trusted mortgage broker.

Buying a home can be an overwhelming process. A pre-approved loan agreement outlines what you can afford to buy, so when the time comes to start shopping you and your real estate agents have a set price range to follow in finding your perfect home.

There are also other reasons to get pre-approved for a loan. When you find that house of your dreams, a seller will likely feel more comfortable taking the home off the market if you are pre-approved because he or she knows that the financing has already been taken care of. Working out a mortgage agreement before shopping also takes the pressure off trying to find a loan quickly once you do find that dream home and don't want another buyer to snatch it up.

If this is your time to buy a home, I'd be happy to help you find a quality lender to discuss mortgage options with you and help you officially commence the beginning of your home buying process!