By Christal Park Keegan, NVR Legal Info. Line Counsel
Property management questions are always popular into the Legal Hotline. Read this legal article, penned by Nevada REALTORS Legal Information Line Counsel Christal Keegan, who highlights the Top Four, by clicking here.
If you have any questions, please contact the Legal Information Line: via email at InfoLine@NVRealtors.org, by phone at 800-748-6999, or check out our new feature to connect with an attorney! Members can now schedule a phone call with real time access to attorneys' schedules here: Calendly - NVR Legal Information Line
REALTORS® completing C2EX can differentiate themselves in the community and optimize opportunities to best serve clients and position yourself as a leader in the community! The endorsement empowers REALTORS® to evaluate, enhance and showcase their highest levels of professionalism. It's not a course, class or designation-it's an Endorsement that REALTORS® can promote when serving clients and other REALTORS®.
The platform generates a customized learning path and recommends experiences and resources to enhance your individual skillset.Get started on your journey today by logging in to www.C2EX.realtor and taking any one of the 11 self-assessments to measure proficiency in 10 aspects of professionalism (11 for brokers), ranging from customer service to use of technology.
NVR has signed up for the NAR C2EX Challenge. C2EX is the endorsement aimed at helping REALTORS® improve their professionalism and be better at their jobs. This competition for state and local associations inspires REALTORS® to earn their C2EX Endorsement, to raise the level of professionalism in the industry, increase their marketability, and grow their business.
Sara Sharkey
Complete the Challenge and your name will be entered for a drawing of a $100 gift card for the month you finish it. Additionally, all NVR members who complete C2EX will be entered into a drawing for the grand prize of $500 on Oct. 1. Congratulations are in order for Reno REALTOR Sara Sharkey, of HomeGate Realty of Nevada, who was the March winner. Click here to learn more about C2EX and start your challenge.
For the fourth consecutive week, mortgage rates surged, up more than 90 basis points in one month. Rates have jumped from 3.76% to 4.67% in just March alone, significantly increasing the borrowing costs for buyers, Nadia Evangelou, senior economist and director of forecasting at the National Association of REALTORS®, wrote for the association's blog.
The monthly payment for a median-priced home with a 30-year fixed-rate mortgage rose more than $170 in March due to higher rates, Evangelou notes.
In the past three months, that amount has been increasing even more. For example, LendingTree offers the following example: A 30-year, fixed-rate mortgage loan worth $300,000 would have cost a buyer about $1,283 a month with the average rate on Dec. 30, 2021, of 3.11%. But at the current average rate of 4.67%, that monthly cost has jumped to $1,551-an increase of $268 a month, $3,216 a year, and $96,480 over the lifetime of the loan. Click here to continue reading.
ATTOM, a curator of nationwide real estate data, last week released its year-end 2021 U.S. Home Flipping Report, which shows that 323,465 single-family homes and condos in the United States were flipped in 2021. That was up 26 percent from 2020, to the highest point since 2006.
The report reveals that the number of home flips in 2021 was up from 257,091 in 2020 to a total not seen since nearly 334,000 homes were flipped by investors in 2006. Last year's flips represented 5.5 percent of all home sales in the nation during 2021, down from 5.8 percent in 2020 and 6.1 percent in 2019. But even as quick-turnaround sales by investors shot up, gross profit margins on home flips in 2021 sank to their lowest level in more than a decade after dropping at the fastest pace in more than 15 years. Click here to continue reading.
