A Surprise Under the Sheets!

It has always amazed my as to why many sellers do not keep in touch with their listing agents, and why many listing agents do not keep in touch with their sellers.  On the seller’s side, why wouldn’t you want to communicate any pertinent information to the agent you assigned to sell your property….a property that is probably one of your biggest investments?  On the other hand, why wouldn’t an agent want to keep in touch with a seller who entrusted a sale of a home?

This question came to my mind again this weekend when I went to a home that was listed as being vacant.  To my surprise, I saw bed sheet fly onto a body on the couch in the family room as soon as I opened the front door.  I quickly shut the door and checked the MLS sheet again to make sure that I had the right house and the right status.  Everything checked out and the property indeed was supposed to be vacant.  I then rang the doorbell and waited for someone to answer the door.  A few minutes went by and someone opened the door.  The person inside explained that he was sent by the owners to keep an eye on the house and why.  I then contacted the listing agent and he knew nothing about this.  In the end, everything ended up O.K.  However, this whole embarrassing and stressful (I didn’t know if this guy under the sheets was supposed to be there or not) could have been avoided by a simple phone call from the seller to the agent.  The agent also should have told the seller that I was supposed to be at the property at that time.  I gave him enough notice to do so.

Dale Duyan with Coldwell Banker Wardley Real Estate:

Dale Duyan with Coldwell Banker Wardley Real Estate:

Feel free to bookmark my website to use it for all the useful links and for your Las Vegas real estate needs and searches.  I will post things that will help people find dog parks, if their home is in a flood zone, school district information, etc.  Check it out:  http://www.daleduyan.coldwellbankerwardley.com/

Buying An REO In Las Vegas

REO stands for Real Estate Owned….by the bank. REO’s are determining many aspects of today’s real estate market in Las Vegas as they are a major part of our market. Any prudent buyer cannot overlook these properties. Many buyers and buyers’ agents need to know what to expect when purchasing REO’s.

First, buyers and their agents need to know that these properties are sold “As-Is.” When I used to work for one of the nation’s largest REO brokers, I negotiated with many buyers’ agents who did not understand this. We need to understand that the banks have usually already considered the necessary repairs or have had repairs made prior to pricing the property. The banks’ agents should have already advised the banks about the obvious condition of the property and how it stacks up against comparables. If buyers are concerned about repairs, they should bring a contractor prior to making an offer. The buyers should consider the contractor’s estimate and make educated and fair offers.

Secondly, know that the process will be different than when buying from an owner that is not a bank. After an offer is accepted, banks will usually issue an addendum or contact that the banks draft. Buyers need to read and understand everything on the addendum and ask their real estate professional for help if anything is unclear. In Nevada, a waiver will also need to be signed by the buyer releasing the bank from knowing the “normal” seller’s disclosures. Buyers should know that this is legal because the bank has never lived in the home and therefore, they do not know of all the negative aspects and details of the home that a normal owner/seller would be legally obligated to disclose. Buyers should take advantage of their due diligence period and have inspections completed as soon as they have an accepted offer. Agents should make sure that all the utilities are on once their buyers are accepted so that inspections can be completed. Buyers should also be aware that if items are stolen from the property during escrow, the banks will most likely not replace them. Agents need to protect buyers concerning this once an offer is submitted. Escrow will usually also be decided by the seller.

Lastly, agreed upon timelines are very strict. Even though it may seem like the bank takes their time on their end, know that they are working as hard and as fast as they can. They are dealing with multiple properties, and if the buyer slacks, many times the seller will cancel the sale due to the buyers’ non-performance. Agents should make sure everything on the buyers’ sides are being completed timely.

Buyers, please choose an agent who is competent in today’s market. Agents, if you lack the experience, please take some classes so that you can help your buyers.

Low Ball Offers

During the past two years of working in the Las Vegas real estate foreclosure market, I have seen many offers that were ridiculously low compared to the list price and the comparables. I’ve seen them as low as 25% of the list price. Usually, they come in tens of thousands under list. Guess what? I’ve sent out rejections from the sellers for every single one of them.

I understand that offering $400,000 cash on a $450,000 listed property is reasonable, and I have seen these offers successfully get accepted and close. However, buyers and their agents need to know that the sellers see many good offers from investors and owner occupant buyers alike. Many offers come in at or above list price. Why do you ask? Most of the REO sellers base their list price on BPOs (or Broker Price Opinions) and monthly reports. This means that most list prices should be very close to what will come in at appraisal.

Many of today’s buyers are very informed due to all the information readily available to them these days. However, buyers still need to rely on their agent’s experience, tools, and knowledge. Agents need to keep in touch with reality and need to take their emotions out of the equation when helping their buyers make offers. Agents should also be more informed with what is really going on in their real estate market.

If you are a buyer, choose your agent very carefully. You cannot afford to work with someone based solely on their personal relationship with you anymore. Today’s agent needs to have a different skill set than someone who was an agent in 2005. Please find a real estate agent with good and current experience and knowledge.

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Hot & Juicy Crawfish, Las Vegas

One of my favorite places to eat in Las Vegas is Hot & Juicy Crawfish on 4810 Spring Mountain Road.  Having lived in Houston for a few years prior to moving to Las Vegas, I learned to enjoy crawfish.  Naturally, when I saw Adam Richman visit Hot & Juicy, I had to try it.  
  

They had different levels of hotness and different flavors, and I wimped out.  During my first visit, I tried the crawfish with the mild Hot & Juicy sauce.  It was some of the best crawfish I have ever tried.

During my next few visits, I tried the shrimp, king crab legs, snow crab, blue crab, and my favorite dungeness crab.  Each time, I tried a different level of the Hot & Juicy sauce.  One day, I will risk trying a different flavor.

Who is Dale Duyan?

Dale Duyan, Your Las Vegas Real Estate Broker-Salesperson

From mountain biking and running intense marathons to the exciting sport of motorsports, one thing is certainly clear, Dale Duyan is an adventurous individual who likes to live life to the fullest. With this enthusiastic approach to life, Dale never misses out on an opportunity. He works hard and plays hard, viewing each day as a new opportunity to do just that.

Fittingly, the first thing you notice when you meet Dale is his incredible energy and zest for life. From his intense work ethic to his exciting weekend activities and travels across the world, he has a positive spirit that seems to light up a room. “I feel compelled to do everything with passion,” exclaims Dale. “Life is meant to be lived wholeheartedly.”

To Dale, living richly means pushing himself to conquer his limits. With bachelor’s degree in real estate and master’s degree in computer information technology, this dedicated man always seizes the opportunities presented to him. Adding to this “go for it” philosophy is Dale’s drive to test himself physically. Many are surprised to learn that on top of all his other activities, he also completes a marathon a year. During these exhausting competitions, Dale doesn’t see obstacles; he sees a new chance to find out exactly what he’s made of.

As Dale sees it, living a quality life also means making an impact on the lives of others. He donates to Feed the Children, heads fundraising groups for the March of Dimes, and soon will build a house for Habitat for Humanity. On top of that, he rescues “unadoptable” dogs from the animal shelter.

Dale views his career in real estate as another way to make an impact and help people live life to the fullest. He treats his clients as he would his own family, always putting their best interests first. He is truly dedicated to making the experience as stress-free and pleasant as possible. And when it comes to such an important decision as buying or selling a home, the fact that Dale puts his heart into every endeavor is the winning factor for his clients.

An Unsurpassed Knowledge Equipped with a degree in real estate, Dale offers his clients a comprehensive plan for their goals today and their plan for the future. He assists with each aspect of the process, from finance and escrow papers to mortgage information and industry trends. Indeed, his powerful negotiation skills, dedication to fulfilling his clients’ goals, and his passion for going the extra mile, allows his clients to live their ideal lifestyle.

Experience the difference with Dale. Dale’s enthusiasm and zest for life continues to set him apart in this extremely competitive business. He makes the real estate experience a pleasant and memorable one. So, when it comes time to make a move, turn towards someone who is truly passionate about seeing you succeed. Call Dale at 702-403-0797 today. He’ll help you Live it Up!

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