Inside this issue
  Nevada brokerages hosting presentations on SB256  
 

Tiffany Banks, General Counsel for Nevada REALTORS┬«, has been busy briefing REALTORS┬« around the state on important legislative issues. Specifically, Banks has been joining brokerages in the North and South to discuss SB 256 and what NVR members can do to help. 

The bill makes it unnecessarily difficult and time-consuming to evict tenants who are habitually late in their rent payments. Nevada property owners will be forced to increase security deposits and tighten credit criteria, placing an extreme financial burden on the state's working families.
 
If this bill becomes law, many retirees and middle-class families who rent out their homes will find it more challenging to offer their homes for rent, so they won't. Worse yet, passage of SB256 would force well-meaning landlords to become less willing to work with tenants - making life more difficult for those the bill's sponsors say they're trying to protect. Many are already starting to say that they want to sell their investment properties if the bill is passed and move out of Nevada. NVR is very concerned with the negative impact this may have. 
 
SB256 passed out of the Senate last month and is going to be heard in the Assembly soon. Banks has spoken with REALTORS┬« at more than 20 brokerages already with more on her schedule. Brokers interested in hosting Banks for a presentation should email her at Tiffany@NVAR.org.

 

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  NAR report highlights Silver State's job growth  
  Employment and income are key drivers of housing demand. NAR's State Employment monitor tracks employment and wage trends and how these trends affect the real estate market and housing demand. In March 2019, net payroll employment increased by 2.5 million jobs from one year ago, a 1.7 percent increase. Since September 2010, payroll employment has increased by 2.3 million annually. At two job earners per household, the 2.5 million jobs generated in March 2019 translate to an annual demand of 1.25 million housing units.

Compared to the level one year ago, nonfarm payroll employment increased in the District of Columbia and in 47 states led by Nevada (3.2%), Utah (3.0%), Washington (2.4%) and Idaho (2.4%). Click here to view the full report.
 

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  Realtor.com: When to offer over asking price on a house  
 

Offering over asking price on a house often makes buyers wince. But let's face it, paying above list price is just a reality in certain circumstances-at least if you really have any hopes of getting that house! So when exactly should you aim high and offer over asking? Check for the signs that suggest this pricey move is essential, just click here.

 

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  Technology Boom: How it's impacting multi-family properties  
  In this wired world, technology has had an enormous, wide-ranging impact on the multifamily real estate market. That impact is most notably seen in the way property owners innovate and differentiate their holdings but really begins much earlier than that with the way in which owners examine the market and appeal to potential renters. It also affects the way in which owners and renters interact once they have entered into an agreement.

The bottom line is that demand continues to outstrip supply, and apartments are being snapped up as quickly as they can be built. The World Property Journal noted that as of February 2018, no fewer than 17,000 multifamily units were under construction in Chicago alone and that more than half were expected to come online - that outlet's phraseology - by year's end. Click here to read more.
 

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  NVR members encouraged to keep account info  
 

NVR invites REALTORS from across the state to check and update their personal profiles in RAMCO, which members can log into at NVAR.org. Members can also contact their local associations to provide updated account information.

It is vital that members keep their profile information -- including their current email address -- up to date. Current contact information allows NVR and NAR to reach members with important information regarding billing, Calls to Action and upcoming events. Additionally, without a current email address, members could miss out on valuable information from NVR's weekly newsletter and the Advocate, which focuses on statewide legislative news.
If you have further questions or concerns about keeping your member account updated, you can inquire by email at info@nvar.org.

 

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