Xiao-Qing (Shall-Ching) Lu's (xlu) Blog

I closed a deal recently that should've closed a month ago. Reason being the difference in using two Loan Officers. The original was one used by the Builder. I love it when we are given choices. The mortgage company did what most LOs do, shuffle paper around and wait for the deal to close. The re...

One question was posed not too long ago: Is there anything that prohibits one salesperson from gossiping about another salesperson in the same office or from another office?Article 15 of the Code of Ethics says "REALTORS shall not knowingly or recklessley make false or misleading statements about...

According to Multiple Listing Service of single family homes, there are 7,311 homes sold in 2006 and 9,605 homes sold in 2007. More homes sold this year than the year prior and this is only November 2007. December is a slow month however expect more homes to sell to add to 9,605 homes sold. I say...

Las Vegas is in a supply market where there's too much supply and not enough demand. For sellers who are looking for options to sell their homes here is another idea: sell your exising home at market value then buy a brand new home. If you are selling home priced below amount paid, yes you are lo...

Think you've heard enough from the media? Hear this from a real estate licensee who works full time in Las Vegas. Who is better at telling the truth about the real estate business other than the people in the business? What does the media know? Only stories that sell news; true or not. Take a loo...

Under Nevada law NRS 645.254 requires a licensee to "present all offers made to or by the client as soon as practicle". This duty MAY BE waived by the client. In order to waive the duty, the client must enter into a written agreement waiving the licensee's obligation to perform the duty to presen...

In my last blog I mentioned that today people buy homes to make money. It is all about location, location, location.  To simply Las Vegans care about two factors: closeness to airport and closeness to the strip. If you purchase a house far from the airport or the strip your home value will not ap...

Foreclosure home counts are in the thousands. While these home prices are enticing buyers must be aware of terms and agreements set forth by banks.  Must read over your purchase contract very carefully and make sure you understand what you are getting into.  Here is a list of tips before purchasi...

Years ago people buy homes to raise children, be close to family members, have the convenience and to be in the same home for ten or twenty years.  Today real estate has changed to become the a commonly traded stock bought and sold every two or three years. People now are buying homes to create w...

Do you know how much home you can afford? Most buyers want to know two important pieces of information: 1) how much downpayment and 2) what my monthly payment will be.You must ask a Loan Officer for the following before understanding how much home you can buy.  If you do not have a lender of your...