Part II: A Discussion About Property Management & Lease Agreements
Christal Park Keegan, NVR Legal Information Line Attorney
The article in the adjacent link addresses a popular issue often discussed on the Legal Information Line. NVR Legal Information Line Attorney Christal Keegan touches on a key question during this current busy real estate era -- what's the difference between a property manager's range of authority to act for the landlord rather than the usual authority afforded to a listing broker?
Do you know how Nevada law reads on the subject? Read this short legal-themed FAQ article and learn all you need to know. If you have any questions, please email the Legal Information Line at InfoLine@NVRealtors.org. You can view the legal article on the subject by clicking here.
The video in the adjacent link addresses resources for the 20,000-plus NVR members statewide. A myriad of resources exist to help REALTORS in the Silver state. Some are offered by us, your state association. Others are offered by Nevada's real estate division and yet others come from a variety of other sources.
NVR LIL Attorney Christal Keegan shares these resources and how NVR members can access them during these busy times. Watch this short legal video and learn all you need to know. If you have any questions, please contact the Legal Information Line: via email at InfoLine@NVRealtors.org or by phone at 800-748-6999. Click here to watch the video.
Blame fewer homes for sale as the culprit behind the most recent decrease in contract signings, not lessening demand, a new report from the National Association of REALTORS® suggests. NAR's Pending Home Sales Index-a forward-looking indicator of home sales based on contract signings-fell 3.8% in December 2021 compared to November. Contract signings were down 6.9% year-over-year.
Yet, despite last month's slide in contract signings, NAR Chief Economist Lawrence Yun says 2021 still marked a great year for housing sales and price appreciation. Read the full article, including what's ahead for housing by clicking here.
New report finds that the average home seller raked in a profit of $94,092 last year
U.S. home sellers made a pretty penny in 2021, with the nationwide realized profit growing by 45% year-over-year, according to a new analysis published by real estate data vendor ATTOM this week. Per ATTOM's year-end home sales report, on average home sellers raked in a profit of $94,092 on a typical home sale last year, up from $64,931 in 2020. For comparison sake, in 2019 a home seller's realized profit averaged out to about $55,000, the report said.
ATTOM noted that rising home prices and profits were driven primarily by a combination of historically low interest rates and a desire by many households to trade congested virus-prone areas for the perceived safety and wider spaces of a single-family home. (The national median home price also grew by 16.9% in 2021 to $301,000-an annual record, the report added.) Click here to continue reading.