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Brad’s Blog

Brad comments today on rental scams and frauds: a warning to the public.

Recently, I received a telephone call from someone (a potential fraud victim) regarding my posting on Craigslist for a house for rent in Henderson. The only problem with that is that I do not have an ad on Craigslist for a house for rent in Henderson. It seems as if someone (I am still investigating […]

Date posted: September 19, 2011

Brad updates the Las Vegas short sale scene. (part two of two)

Sellers in short sale situations can be so deluded and emotional that they think they still have control. They do not. Usually, homeowners will try many other strategies before even commencing a short sale (loan modification, as one example). Short sales are commonly their last attempt at maintaining a modicum of dignity, sort of like […]

Date posted: June 3, 2011

Brad updates the Las Vegas short sale scene. (part one of two)

As 2010 yielded its reign to 2011, I blogged that little would change this year in the Las Vegas real estate market. So far, this has held true. Prices have continued to bump along the bottom, with little to notice one way or the other. The long-predicted wave of foreclosures has (still) yet to materialize […]

Date posted: June 1, 2011

Brad comments today on short sale negotiating companies.

Just two or three years ago, when loan modifications entered the public vernacular, fly-by-night operators hung their shingles, wishing to hop on the proverbial bandwagon. Homeowners were sinking fast into financial turmoil, and these snake-oil companies promised a way out. The problems were twofold: first, most of them were unlicensed. And second, most of them […]

Date posted: April 3, 2011

Brad comments today on the top 5 mistakes that real estate agents make.

As the President and managing Broker of TR Realty, currently supervising more than 95 agents, I get to touch numerous transactions every day. In some of those transactions, my agents are representing buyers, some sellers, some both. As most of my readers also know, I am also a real estate trainer, and in my classes, […]

Date posted: March 10, 2011

Brad posts a follow-up to the blog on Febraury 6th, 2011: fraudulent leads.

I received this email alert today from a law firm in Florida: Fraud Alert: Foreign Cash Buyer Fraudulent “buyers” are out there, wasting the time of real estate agents and sellers, fishing for the opportunity to rip-off the real estate agent or title company escrow account. We just witnessed one of our colleagues nearly have […]

Date posted: February 15, 2011

Brad comments today on the newest scam: fraudulent leads.

The lead came in from one of the big real estate consumer web sites: “I need a 4/6 bedroom home, garage, and pool or without pool, close to school area because I have 2 kids age 5 and 7, 1 or 2 story home, I am moving down in 4 months time, please forward me some property photos […]

Date posted: February 6, 2011

Brad has the newest Realtor numbers!

Just in: the newest membership numbers from our local Realtor association, GLVAR. These numbers are not yet published, not yet made public, but I have them for my readers. Before I release the count, allow me to remind my readers that I predicted a membership of less than 10,000. This is what I wrote last […]

Date posted: January 6, 2011

Brad looks forward into 2011.

Countless agents and customers have been asking me lately to predict what I think 2011 will look like for the Las Vegas real estate market. While prognosticating is never easy or certain, I thought that this would be a good time of year to proffer some opinions. I think that 2011 will be a year […]

Date posted: December 31, 2010

Brad comments today: short sales vs. foreclosures.

Some people use the terms “short sale” and “foreclosure” in the same breath. But really, they have little in common. True, in both cases, the homeowner will not be able to keep the house for very long. But the similarities stop there. One illustrative way to think about the differences would be this: Think of your […]

Date posted: December 17, 2010

Brad comments today on the inherent unfairness of canceling contracts.

Purchase and sale agreements contain contingencies that allow a buyer to cancel a sale in the event there develops an insurmountable issue. An inspection report that divulges undisclosed material defects on the property would be one example of such an issue. An unattainable mortgage despite being pre-approved by a lender, perhaps due to sudden job loss, would be […]

Date posted: November 26, 2010

Brad comments today on the difficulties of financing a condo purchase.

In years past, whether a buyer wanted to purchase a single family home or a condo, the mortgage process was very similar. But today, especially in the Las Vegas area, things have changed. When a lender considers whether to approve a mortgage on a condo, the lender will ascertain that the community in which the condo is […]

Date posted: November 10, 2010

Brad comments today on required paperwork.

Nevada law requires that real estate brokerages retain certain documents for each transaction. Among the required paperwork: Duties Owed, Consent to Act, listing agreements, purchase and sale agreements, leases, certain disclosures, HUDs, etc. I have always, since the inception of TRR, had a policy of following the law to the letter. Regardless of how many other brokers […]

Date posted: November 4, 2010

Brad comments today on intentional buyer default.

This week, a TRR associate came to me with a problem. Seems that her buyer wanted to cancel a purchase and sale agreement on the day of closing. But the agent was not clear about the reasons, so she asked for my assistance and intervention. I talked to this buyer, who was extremely hotheaded and emotional. He said […]

Date posted: October 29, 2010

Brad updates the foreclosure debacle today.

Here we go into the second inning. But if this wasn’t clear to you where things stand when I blogged about it a few day ago, it will most assuredly be less clear now. What we know: – Some lenders have discovered “spot irregularities” in their foreclosure process, but no widespread problems. – Surreptitiously, HUD […]

Date posted: October 20, 2010

Brad comments today on the foreclosure debacle.

A quote from my blog on October 8, 2010: “Therefore, I predict that next week, . . . other banks will follow BofA’s strategy, and also freeze their foreclosures.” I guess I was right because news came out yesterday that several major lenders and mortgage servicing companies are expanding their investigations into their own possible mishandling […]

Date posted: October 13, 2010

Brad comments today on agent greed.

From time to time, over the years, I have experienced varying forms of agent greed. I have witnessed agents attempting to negotiate their own commission with the opposing side, even when it put their customer’s transaction in jeopardy. I have seen agents trying to pass their own commission expenses along to their unsuspecting clients. I […]

Date posted: October 18, 2010

Breaking News: Bank of America stops all foreclosures!

The news came out around 9:30AM Las Vegas time: BofA is halting all foreclosures for the time being. Before you think this is some act of kindness or compassion, realize that there is one reason that they did this today: freezing foreclosures will be a less expensive option than the myriad lawsuits they could be […]

Date posted: October 8, 2010

Brad comments today on short sale option contracts.

As part of my research for today’s blog, I Googled “short sale option contracts”. I read numerous web sites and blogs that address this topic. Clearly, this is a topic that needs to be addressed, so I thought I would comment. Although I formed my opinion on this subject years ago, these contracts seem to be coming […]

Date posted: October 6, 2010