In this market where most REALTORS have more listings than sales...marketing listings and getting them sold can be a REAL challenge, especially since there are close to 30,000 active single family listings in Las Vegas!  This is not counting new homes, for sale by owners, land, commercial and multi-family units over four.  It's important to choose a REALTOR who will get you the most 'bang for your buck' and get out there and actively market your home!  Your pricing the home correctly (with the help of your REALTOR is top priority.  An over-priced listing in today's market is probably not going to sell.  Your REALTOR should show you comparable sales of others in your neighborhood, and help you with setting your price.  Priced correctly and with good marketing your home should sell!

How do I market?  I market in MANY ways...some traditional, some not so traditional.  Your listing will be entered in the MLS and a sign in front of the home within 24-hours of signing the listing agreement.  Fliers will be in the flier box, as well as colored fliers in the house, will be available within the same time period.

Statistics show that 78% of home buyers start their search for a home using the internet.  I do massive advertising via this media.  My promise is to put your new listing on these web sites, as well as do the other items listed, within 48 hours of taking the listing.

1. MLS (with a total of eight pictures of features in your home) - goes out to to over 17,000 Las Vegas area REALTORS
2. REALTOR.com - the MOST viewed website for first time home buyers.
3. MaryW.com and MaryWarren.com - advertised on both of my web sites with hundreds of hits daily.
4. Yahoo, Google, and other search engines
5. Keller Williams Listing Service
6. Craigs List
7. Postlets
8. E-mailed fliers to over 1,500 Las Vegas REALTORS (opt-in) and my sphere of influence of over 200 (a sample can be seen here)
9. Advertised on both my Blogs - My Active Rain Blog and Welcome2LV
10. YOUR OWN WEB SITE and domain - as in www.2705Cheshire.com - a sign rider will be put at the bottom of the FOR SALE sign showing your own domain name and thus leading neighbors to view the flier on the internet. (the sign rider sometimes takes a little longer than 48 hours)
11. and More......

You say you don't live in Las Vegas but yet you own property here and want to sell it?  NO PROBLEM!  I can do that for you...I've gone TOTALLY paperless and everything can be done by e-mail, fax, and/or phone.  I've done this many times in the past without ever meeting the seller.   Make it easy for yourself!  Ask me about it....no obligation!

www.MaryW.com  or  www.MaryWarren.com

According to the Greater Las Vegas Association of Realtors® (GLVAR) MLS on Saturday, August 18, 2007, there are:

• Active Listings: 41,432 
• Sing Family Residences: 22,070
• Condos: 4,118
• Townhouses: 1,681
• Vacant residential Listings: 12,922    

Residential Listing Total: 28,520; leaving the remainder to be land, commercial, multi-dwellings, etc

Of these according to the GLVAR MLS:

Active Residential Listings:

• Foreclosures:    1,374
• Short Sale:        2,646

Pending residential listings:

• Foreclosures:    191
• Short Sales:       263

Clients are calling asking what is happening with the Mortgage business and how will it affect my home value?  Here is a brief outline of what is happening:     

We are in an unprecedented mortgage market equivalent to a category 5 hurricane if it were a storm.  For those that are "pre-approved" with a Lender, the loan program they are "pre-approved" on may no longer be available an hour later.  Many programs that were available two weeks ago are gone today, second mortgages are extremely hard to find, "Stated Income" loans are being priced so high it does not make sense, Jumbo loans (loans over $417k) are raising rates daily, & mortgage companies are struggling to keep their doors open.  The whole reason for this is really complicated but the bottom line is, the loans people received a year ago are not performing (the borrowers are not making their payments on time) so the Lenders are taking it in the shorts.

The good news is regular "conforming loans" (up to $417k) that are "Full Documentation" are still good and still have 100% financing options available as well.  The rates are on these loans are just 1.5% ish over the record lowest rates recorded in 2003.  The point I want to make is that the market is changing daily.

Here is the real question: What is this doing for my house value?  The answer is: Time will tell, and here is why...

With a record number (25k+) of homes on the MLS (Multiple Listing Service for Realtors) many people are scared & think their home value is going down every month.  The reality is, the buyers have so many homes to choose from they are not in a hurry to "pin the tail on the home".  Statistics say a normal MLS inventory should be about 1% of the population which would make it about 18k ish here in the valley.  That being said, there are just not as many people buying homes now & there are lot of people trying to sell right now.  So you ask "with so many people still moving here every month, where are the homebuyers"?  The answer to that question is: Some are looking for a deal, some don't have income to qualify, & some do not qualify since the loan guidelines have changed so much.  Fast forward that to what is getting ready to happen soon...jobs.  There is a LOT of construction & a lot of jobs going to be created by the end of next year.  With that will come more homebuyers.  My take is, give it some time, they will come.  The Lenders will loosen the guidelines after the short sale/foreclosure mess is dealt with (next 6-12 months), the people with ARM's that are adjusting will figure it out by refinancing or selling, & the renters will find out their rent is going up after their lease runs out so they will turn into a homebuyer.

I really feel the pendulum is starting to swing back.  We just need time.  The old saying is: "What goes up...Must come down".  We are down now, but the up is on its way again.  Please make sure that all of your friends & co-workers are working with a reputable Lender more than ever before.  The risk of shopping for the best rate will kill the deal in today's market.  When they find the "best deal" the loan program might just be gone.

Thanks again for being a client of ours.  I do not take your business or your trust lightly and will never take it for granted. 

Reposted here with permission from Mark Baker, of The Mark A. Baker Team also known as "The Mortgage Experts" of Meridas Capital.  Please fee freel to e-mail by clicking on his name or phone him direct @ 702-451-1040 with any of your questions.  Or, contact me and I will be happy to put you in touch with him!

www.MaryW.com  or  www.MaryWarren.com

Rates & Programs are subject to change without notice prior to locking.  Locks are eligible upon underwriting approval and are valid for 30 days.

School starts three weeks from yesterday (August 27, 2007)...there is still a need for 482 teachers.  There will also be a need for bus drivers and crossing guards, as well as other support staff.  If interested please visit www.ccsd.net/jobs.

Tonight, August 7, 2007 is the 24th Annual National Night Out 2007 - Communities are encouraged to get out and meet your neighbors in an effort to help prevent crime.  To read more on this visit the National Night Out Web Site

UNLV's Running Rebels Coach, Lon Kruger, is back at home after a successful sextuple heart bypass surgery last week.  He plans to be back to work within 4-6 weeks!  GO LON!

Las Vegas' NASCAR weekend will be a week earlier next year...the races are set for March 1 and 2, 2008.  Ticket sales began yesterday for the races at the Las Vegas Motor Speedway.  Visit www.Nascar.com  for futher information,

An ominous stat is that Nevada is number one in foreclosures.  Sunday, August 6, dozens of LV homes were sold at auction, some at half price. Properties in Anthem, Seven Hills, Aliante were among the 86 homes that sold.  Watch my blog for information on the next auction.