Page 4 - Nevada Cooperator Expo March 2019

4 THE NEVADA COOPERATOR
—MARCH 2019
NEVADACOOPERATOR.COM
Tuesday, March 26, 2019
The Cooperator Expo Las Vegas
Rio All-Suite Hotel and Casino,
3700 W. Flamingo Rd., Las Vegas, NV
10:00 a.m. - 3:30 p.m.
A must attend for all community association
board members, managers and decision mak-
ers. Learn about the latest building services
from more than 200 exhibitors. Attend edu-
cational seminars, network with your peers
and get free advice from industry experts.
For information, visit lv-expo.com.
Wednesday, March 20,
2019
CAI-NV: Northern Nevada
Homeowner Seminar
Peppermill Reno,
2707 S. Virginia St., Reno, NV
10:00 a.m.
For information, visit www.cai-nevada.org.
Thursday, March 21, 2019
“Who Does What? Board Members,
Community Managers and the
Unauthorized Practice of Law”
Peppermill Reno,
2707 S. Virginia St., Reno, NV
9:00 a.m. - 11:00 .a.m.
CE#-Designation: CE.0270000-CAM.
Provider: The Clarkson Law Group, P.C.,
CAI Nevada, admin@cai-nevada.org
702-648-8408.
Friday, March 29, 2019
CAI-NV: 2018 CAI Awards Gala
The Smith Center for the Performing Arts,
361 Symphony Park Ave., Las Vegas, NV
5:00 p.m. - 10:00 p.m.
Save the date! For more information, visit
www.cai-nevada.org.
Thursday, April 4, 2019
“ABCs of Fair Housing for Real Estate and
Property Management Professionals”
Culinary Academy of Las Vegas,
710 W Lake Mead Blvd., North Las Vegas, NV
1:00 p.m. - 4:00 p.m.
CE#-Designation: CE.0060001-CAM LAW
CREDIT. Provider: Silver State Fair Housing
Council. 702-749-3288 or 1-888-585-8634
toll-free / Relay Nevada 711.
Tuesday, April 9, 2019
CAI-NV: Las Vegas Monthly Luncheon
Gold Coast Hotel & Casino,
4000 W. Flamingo Rd., Las Vegas, NV
11:15 a.m.
For information, visit www.cai-nevada.org.
CAL EN D AR
Industry Pulse
Community Management
FirstService Residential to Manage
American West Liberty Homeowners
Association in Las Vegas
Community
management
firm
FirstService Residential was awarded the
contract to provide full-service manage-
ment services for American West Liberty
Homeowners Association in Las Vegas.
The company said in a press release that it
assumed management responsibilities on
February 1, 2019.
“We are always thrilled to partner with
brand new developments like American West
Liberty Homeowners Association and help
lay the groundwork for their future growth
and success,” said Ray Colon, business devel-
opment manager for FirstService Residential
in Nevada. “With a goal to enhance the resi-
dent experience within this new community,
we look forward to partnering with future
board members and homeowners to create
a vision for this contemporary community.”
Currently
under
construction
by
American West Homes, this community will
build out to 151 single-family homes with
spacious floor plans ranging in size from
1,600 to 4,200 square feet. The community
is located in southwest Las Vegas off Arville
Street and Blue Diamond Road, minutes
away from the Las Vegas Strip, McCarran
International Airport, Red Rock Canyon, and
Downtown Summerlin.
Trends
Report: Southern Nevada Home Prices
Bounce Back to $300K in January
Local home prices bounced back to
the $300,000 mark for the first time since
September 2018, while fewer properties
changed hands and more homes were on the
market than one year ago. So said a report
released on February 6 by the Greater Las
Vegas Association of Realtors (GLVAR)
covering activity in the local housing market
through January 2019.
GLVAR reported that the median price for
existing single-family homes sold in Southern
Nevada through its Multiple Listing Service
(MLS) during January was an even $300,000.
That’s up 13.2 percent from $265,000 in
January of 2018. The median price of local
condos and townhomes sold in January was
$170,000. That was up 13.4 percent from
January of 2018.
“Just when you thought these double-
digit increases might become a thing of the
past, it’s interesting to see the median home
price go back up again,” said 2019 GLVAR
President Janet Carpenter, “The last time
our median home price hit $300,000 was in
September [2018]. Before that, you have to go
all the way back to 2007 to see a median price
that high. We usually see local home prices
and sales decline in January, which is tradi-
tionally one of the slowest months for the
local housing market.”
Homes sold in Southern Nevada peaked at
$315,000 in June of 2006. Local home prices
hit a post-recession bottom of $118,000 in
January of 2012. The total number of exist-
ing local homes, condos and townhomes sold
during January was 2,305. Compared to one
year ago, January sales were down 19.4 per-
cent for homes and down 12.5 percent for
condos and townhomes. GLVAR reported a
total of 42,876 property sales in 2018, down
from 45,388 in all of 2017, so Carpenter
expects that sales numbers may continue to
slip this year.
The total value of local real estate trans-
actions tracked through the MLS during
January was nearly $641 million for homes
and nearly $89 million for condos, high-rise
condos and townhomes. Compared to one
year ago, total sales volumes in January were
down 8.1 percent for homes, but up 1.7 per-
cent for condos and townhomes.
Homes and condos are starting to sell at
a slower pace. In January, 72.0 percent of all
existing local homes and 71.2 percent of all
existing local condos and townhomes sold
within 60 days. That compares to one year
ago, 76.8 percent of all existing local homes
and 83.1 percent of all existing local condos
and townhomes sold within 60 days.
News
Reno Condo Catches Fire
A small fire at a Reno condominium
occurred on January 21, KOLO reported.
Crews from the Reno Fire Department
arrived at the Salem Plaza Condominiums
on Plumas Street, and residents on the first
floor were evacuated. When emergency crews
entered the apartment in question, they dis-
covered smoke emanating from a mop in the
kitchen. The were no reports of injuries and
the unit suffered minor damage. An investi-
gation about the incident was underway at
the time.
Rats Are Invading My Home, Says
Vegas Woman
A North Las Vegas woman said she expe-
rienced an invasion of rats in her home,
according to a KTNV report. Resident Sonia
Miller said the rats entered her home near
Craig Road and Commerce Street; photos
taken by her exterminator showed the holes
via the roof from where the rats were able to
get inside the residence. Miller said her HOA
was responsible for issues pertaining to the
roof, and neighbors said the HOA recently
installed bait stations. “I haven’t been able to
sleep for a month,” Miller told KTNV.
Development
Fernley to Bring in More Multifamily
Homes
There is going to be an influx of new
homes in Fernley. According to a Fox 11
report, the city voted last January to allow
more multifamily dwellings, which would
bring the number of homes from 21 to 30
per acre. There was no timeline reported
on when the dwellings will be built, accord-
ing to Fernley City Manager Daphne Hooper,
who said of the vote: “If we have people who
live here, that helps support property taxes
and brings revenue into the city; that helps
with providing city services.”
Reno-Gazette
Journa
l reported that “The dwellings can now
be set back from the property line just 20 feet
instead of 25 feet, and only 20 percent of the
property needs to be landscaped” Opinions
were mixed about the decision, with some
residents not in favor of higher density apart-
ments, while others argue it would be a good
thing for the community.
Community Associations
CAI Reports Record-Setting
Membership Growth
The Community Associations Institute
(CAI) announced its 40,000 membership
milestone, according to a February 8 news
statement from the organization.
CAI’s total membership of 40,389 includes
volunteer homeowner leaders who serve on
their association boards in homeowners asso-
ciations (HOAs), condominium communi-
ties, and cooperatives, as well as community
management professionals and business part-
ners serving these communities.
The membership increase is a significant
gain following the Oct. 1, 2017 announce-
ment of CAI’s new membership dues restruc-
turing plan for its Homeowner Leader mem-
bership type, which offers community associ-
ations the opportunity to sign up to 15 board
members for only $250. Prior to Oct. 1, CAI
membership totaled of 34,555. Since the Oct.
1 implementation, CAI’s overall membership
has experienced a 14 percent increase and a
34 percent increase for homeowner leaders.
“We understand the best community
associations have the best boards—they’re
educated, knowledgeable, and prepared to
lead their communities,” said Thomas M.
Skiba, CAI’s chief executive officer. “In the
past, community associations would typi-
cally only support a CAI membership for the
top three board positions—president, vice
president, and treasurer. Under the new plan,
communities can now sign up their entire
board to join CAI at the lowest cost. Today,
we’re proud to share that more community
associations are choosing to be a part of the
CAI family and trust our organization and
the leading provider with the best tools and
resources they need to be successful.”
According to the 2017 CAI Member Needs
Assessment Survey, 89 percent of CAI mem-
bers responded that they’re likely to recom-
mend CAI to their peers. Across all member
types, the most important reasons for joining
CAI include professional designations and
certifications, connection to local CAI chap-
ters, networking, and education.
n
2019
PULSE/CALENDAR
Mar-April
Please submit Pulse items to
David Chiu at
david@cooperator.com