David Radcliffe of Keller Williams Realty Southwest Las Vegas will be featured as an expert panelist at the Las Vegas Market Symposium 2015 located at the Suncoast Hotel and Casino. The Las Vegas Chapter of the Appraisal Institute will host this full day course and market update on Thursday, November 5th, 2015 from 830-430.
The Market Symposium brings together expert and experienced professionals to speak about the past and expected upcoming real estate market changes in Southern Nevada. Dave will be sharing about the single family residential market where there will be an overview of buyer behaviors, forecasting of new home construction, residential and commercial lending, projections from investors and vacant land, time elements in short sales and foreclosures, changes and inventory trends and a look at how the local Las Vegas Market compares and stacks up to National Real Estate throughout the country.
Out of more
than 10,000 real estate agents in the greater Las Vegas and Clark County area,Dave Radcliffe ranks among the Top 1% of
Realtors® as number 101 during the second
quarter of 2015. Dave Radcliffe ranked number 1 in 2014 as the
top producing individual out of 172 Realtor-Agents in his office. Dave has a team of top producing agents and
ranks consistently as one of the top real estate teams at Keller Williams
Realty Southwest Las Vegas because he is all about customer service and
utilizing the best resources in the real estate business. The Radcliffe Group
is your Las Vegas, Summerlin, Centennial Hills, and North Las Vegas real estate connection.
As a retired
police officer, Dave is passionate about giving back to the service community
and dedicates much of his time giving and supporting the Las Vegas Metro Police Department,
Firefighters and Military at Nellis Air Force Base. Military, Fire and Law enforcement never
pay a full commission when they work with the Radcliffe Group. The
Radcliffe Group can assist
you in your Las Vegas PCS or relocation, New Home Construction purchase, Condo
and Luxury Home purchase. Specializing in helping Las Vegas and North
Las Vegas homeowners sell their home for the highest
market value, Dave and
his team will help you yield your highest profit. Call 702-379-3401 when it is
time to sell your Las Vegas, Summerlin, Centennial Hills or North Las Vegas Home.
That is a loaded question and it takes a true real estate professional
to be able to answer correctly. The value of your Las Vegas home, Summerlin home,
Centennial Hills home value will often vary depend on who you speak to. The
Radcliffe Group gives it to you straight. We want to help educate
you, sell your home for the highest
dollar possible, with the least amount of inconvenience possible, in the timeframe
that meets your needs. The Las Vegas real estate community has been facing some
challenges recently with appraisals coming in below market value and the
contracted sales price. It’s important to know that when The Radcliffe Group represents
you, we help make sure you are yielding the highest profit possible in your
homes sale. Dave and his team are even willing to challenge or file official
complaints about other professionals and help uphold industry/market standards
to make it a win-win.
In fall of 2014, Dave was invited to be an expert
panelist for The Las Vegas Chapter of the Appraisal Institute at their 2014
symposium. As a top producing Realtor, Dave reports regularly on the
current real estate market in Las Vegas to
include some of his specialty areas such as Summerlin,
Centennial
Hills and North Las Vegas. So, when Dave was asked to sit on the appraisal
board and share what was taking place in the Las Vegas market, he was happy to
share with and educate the real estate community. With the market heating up,
Dave is asking questions and getting answers. Here are a few questions you may
have about your Las Vegas Home Value.
What is an Appraisal?
The real estate definition is: A written justification of the
price paid for a property, primarily based on an analysis of comparable sales
of similar homes nearby.
What is the Appraised Value?
The definition of Appraised Valued is: An opinion of a
property's fair market value, based on an appraiser's knowledge, experience,
and analysis of the property. Since an appraisal is based primarily on
comparable sales, and the most recent sale is the one on the property in
question, the appraisal usually comes out at the purchase price.
What is Fair Market Value?
Fair market value is an estimate of the market value of a property,
based on what a knowledgeable, willing, and unpressured buyer would pay to a
knowledgeable, willing, and unpressured seller in the market. At The Radcliffe
Group we believe your home’s value is based on fair market value, “not some guy’s
opinion, that you have never met that does a statistical analysis”.
Who decides Market Value? The Appraiser? Or is it Buyers and
Sellers?
Market
economy decides the value not an appraiser. “Appraisers define market value
differently than real estate agents do. Appraisers focus on recent closed and
pending sales. In short, they are looking backward to use data they can
document. An agent is looking to the future, taking into account comparable
sales, pending sales, listed pricesthe market, average sales time, and available
inventory, in order to predict a future selling price. For that reason,
a qualified local real estate agentwill generally outperform appraisers in
anticipating the near-future market price of a particular home. Inexperienced
appraisers will argue that point. Experiencedones recognize it to be true.”
We saw this change coming and warned
you of it earlier this year, Fannie Mae put checks and balances and
warnings in place because appraisals contain inconsistencies, inaccuracies, or
data anomalies that may warrant “further action” because it can negatively
affect a home’s selling price/ value. “Fannie Mae’s new Appraiser Quality
Monitoring (AQM) list that came out recently is the latest threat to the
livelihood of residential appraisers. The AQM is a list of appraisers, provided
to all approved lenders and servicers of Fannie Mae, whose work is subject to
100 percent review or is no longer accepted by Fannie Mae.” Appraisers don’t like
the new monitoring and warning notices that come if they are not compliant with
the appraisal process because it can jeopardize their livelihood and is now “taking
longer to do reports because they have to look up every possible comparable to
see what the rating was “then” to compare it to “now” when evaluating a
property value. It’s not just Quality and Conditions (Q&Cs) that they are
looking for; Fannie now wants all kinds of additional information, which
translates into additional work” for appraisers. If an appraiser gets warned and
does not take corrective action in his/ her appraisal right up/review process,
he can be added to an Appraiser blacklist.
So what happens when you get a bad
appraisal or an appraisal that comes in below Fair Market Value? When
representing you, Dave and his team can request an appraisal reconsideration. Sometimes
the reconsideration can clear up the issues. If the appraisal is faulty there
is a form process to go through to get to the proper channels and have it
reviewed or reevaluated. If there is a competency issue, then Dave and his team
can report it for fundamental issues if there is misrepresentation or fraud.
As a retired
police officer, Dave is passionate about giving back to the service community
and dedicates much of his time giving and supporting the Las Vegas Metro
Police Department, Firefighters and Military at Nellis Air Force Base.
Military, Fire and Law enforcement never pay a full commission when they work
with the Radcliffe Group. The
Radcliffe Group can assist you in your Las Vegas PCS or relocation, New Home
Construction purchase, Condo and Luxury Home
purchase. Specializing in helping Las Vegas and North Las Vegas homeowners
sell their home for the highest market value, Dave and his team will help
you yield your highest profit. Call 702-379-3401 when it is time to sell your
Las Vegas, Summerlin,
Centennial
Hills or North
Las Vegas Home.
Out of more
than 10,000 real estate agents in the greater Las Vegas and Clark County area, Dave Radcliffe ranks among the Top 1% of
Realtors® as number 101 during the second
quarter of 2015. Dave Radcliffe ranked number 1 in 2014 as the
top producing individual out of 172 Realtor-Agents in his office. Dave has a team of top producing agents and
ranks consistently as one of the top real estate teams at Keller Williams
Realty Southwest Las Vegas because he is all about customer service and
utilizing the best resources in the real estate business. The Radcliffe Group
is your Las Vegas, Summerlin, Centennial Hills, and North Las Vegas real estate connection. 
