Raiders have three of the NFL’s top-10 selling jerseys

The Raiders are dominating NFL jersey sales.

Jeff Smith – Aug 9, 1:33 PM with 247sports

If you think Oakland Raiders fans aren’t spread all across the United States, think again.

Raider Nation proved just how strong it is when the NFL released their top jersey sales over the recent months, and the Silver and Black were pretty much dominant.

The Oakland Raiders are ready for a Super Bowl push in 2017! Want the latest news sent straight to your inbox?  – Sign up for our FREE Raiders newsletter now!

Check out the full list of the top-10 selling jerseys in the NFL currently, courtesy of the league’s official Twitter.

So that places three Raiders players in Marshawn Lynch (No. 2), Derek Carr (No. 5) and Khalil Mack (No. 9) all in the top 10. Oakland is the only team to have three players represented that strongly, while the Dallas Cowboys have two players in Dak Prescott (No. 3) and Ezekiel Elliott (No. 4) named.
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Single Family Housing Permits in U.S. Down 46 Percent in Q2

Residential News » Irvinedownload Edition | By | August 9, 2017 8:00 AM ET

Fails to Keep Pace With Housing Market Demand

According to the National Association of Home Builders/First American Leading Markets Index (LMI) released this week, nearly 300 U.S. housing markets posted an increase in economic and housing activity from the first quarter to the second quarter of 2017.

The LMI measures current home price, permit and employment data to plot the economic health of an individual market. Based on the 337 markets tracked by the index, nationwide markets are now running at an average of 102 percent of normal housing and economic activity.

However, individual components of the LMI are at different stages of recovery. While employment has reached 98 percent of normal activity and home price levels are well above normal at 152 percent, single-family permits are running at just 54 percent of normal activity.

“This report shows that the housing and economic recovery is widespread across the nation and that housing has made significant gains since the Great Recession,” said NAHB Chairman Granger MacDonald. “However, the lagging single-family permit indicator shows that housing still has a ways to go to get back to full strength.”

“The overall index is running above 100 percent of normal largely due to healthy home price appreciation,” said NAHB Chief Economist Robert Dietz. “At the same time, the reason why single-family permits are barely halfway above normal is because builders continue to face persistent supply-side headwinds, including rising material prices and a shortage of buildable lots and skilled labor.”

Despite these challenges, the housing market continues to gradually move forward. The LMI shows that markets in 196 of the 337 metro areas nationwide returned to or exceeded their last normal levels of economic and housing activity in the second quarter of 2017. This represents a year-over-year net gain of 68 markets.

“With 89 percent of all metro areas posting a quarterly increase in their LMI score, this is a strong signal that the overall housing market continues to make broad-based gains,” said Kurt Pfotenhauer, vice chairman of First American Title Insurance Company, which co-sponsors the LMI report.

Baton Rouge, La., continues to top the list of major metros on the LMI, with a score of 1.76 — or 76 percent better than its historical normal market level. Other major metros leading the group include Austin, Texas; Honolulu; Provo, Utah; and Spokane, Wash. Rounding out the top 10 are Ventura, Calif.; San Jose, Calif.; Nashville, Tenn.; Los Angeles; and Charleston, S.C.

Among smaller metros, Odessa, Texas, has an LMI score of 2.14, meaning that it is now at more than double its market strength prior to the recession. Also at the top of that list are Midland, Texas; Walla, Walla, Wash.; Florence, Ala.; and Ithaca, N.Y.

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What Real Estate Agents Really Want For Christmas

1. For telemarketers promising “high quality leads” to lose my number already.

2. For other agents to stop writing listing descriptions in all caps.

3. For clients and prospects to stop no-showing for appointments.

4. Wine. LOTS of wine.

5. For a regularly scheduled nap time every day… with all communication devices disabled… and with full understanding and compassion from all clients.

6. For a freakin’ weekend off every now and again.

7. For people to respect our time.

8. For vendors to cater more luncheons.

9. For the general public to finally understand exactly what we do, and how we get paid.

10. For the myth that we rake in the dough for little work to disappear.Real-Estate-Joker-1024x681

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Buyers pay $269M for 4 Las Vegas apartment complexes

By Eli Segall Las Vegas Review-Journal

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Two days, $269 million.

That’s how much was spent, in how many days, for four Las Vegas Valley apartment complexes last week – a burst of sales in a hot market that’s only getting more heated.

The Blackstone Group, a New York investment giant that’s been snapping up Las Vegas real estate for several years, last Thursday acquired the 466-unit Elysian West in the southwest valley for $106.5 million — a record price for Las Vegas, according to the seller.

The same day, Northern California’s DiNapoli Capital Partners picked up the 404-unit Palms at Peccole Ranch on Charleston Boulevard near Hualapai Way for $62 million, and New York-based Abacus Capital Group purchased the 237-unit Sterling Court near Russell Road and U.S. Highway 95 for $24 million, Clark County records show.

Arizona-based Farnam Realty then bought the 430-unit Veritas complex at St. Rose and Maryland parkways for $76.5 million on Friday.

The deals show that Las Vegas’ apartment market, with its rising rents, shrunken vacancies and increased construction, isn’t cooling anytime soon – a windfall for contractors and landlords but potential concern for tenants facing bigger rent payments.

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Rising prices

Helping fuel the market’s expansion are the improved economy, a growing population and low homeownership rates after last decade’s housing crash.

It’s possible there is “a little run on these properties,” but the local economy is doing well and newly built complexes seem to be leasing up quickly, said John Stater, Las Vegas research manager for brokerage Colliers International.

For instance, at South Beach Resort, a new luxury apartment complex on Russell Road at the 215 Beltway, renters have picked up an average of 45 to 60 units per month, developer Bob Schulman said. He expects the 220-unit complex to be fully leased by mid-October.

Overall, apartment-complex sales and prices might cool down in Las Vegas if vacancies climbed, the valley gets flooded with too many projects, or if buyers think “all the good targets” have been purchased, Stater said. But for now, landlords are paying more and more.

Apartment buyers paid an average of $105,100 per unit in Southern Nevada this year as of Aug. 1, nearly three times the average of $37,000 per unit investors paid in 2011 when the economy was battered by the recession, according to figures provided by Stater.

Record levels

Blackstone paid around $228,500 per door – more than double the market’s average – for Elysian West, located south of Tropicana Avenue just west of the Beltway. The complex opened last year and was 96 percent occupied at the time of sale, according to Calida Group co-founder Eric Cohen, whose firm developed and sold the project.

It traded for a record overall price and record price per unit for a typical “garden-style” apartment complex in Las Vegas, he said. Such properties might span 15 to 20 acres with several two- or three-story buildings.

Blackstone declined to comment on the record. Abacus and DiNapoli did not return calls seeking comment, and Farnam could not be reached for comment.

Veritas was 96 percent occupied as of last week, according to brokerage Jones Lang LaSalle, which represented the seller, Texas-based Monogram Residential Trust.

Palms at Peccole Ranch was around 95 percent occupied, said Mark Stern, senior vice president of acquisitions for Chicago-based Waterton, which sold the property to DiNapoli.

In a sign of the valley’s rising prices, DiNapoli paid 36 percent above what Waterton spent for the complex in 2013, property records show.

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Golf course ownership becoming tough market in Las Vegas

The list has been getting longer for the number of golf course owners in Las Vegas that have sold or entered bankruptcy in the past couple of years. Many of these courses have been attached to communities where residents feared things such as closure, redevelopment or long periods of uncertainty because of litigation.

Well-known courses such as Badlands, Legacy Golf Club and Silverstone Golf Club were just a few of the names that are set to see changes. There are roughly 60 golf courses in Las Vegas and some of the surrounding areas.

“I don’t think at this point it’s known for any of them, but they’re certainly in various stages of moving onto something different than a golf course,” said George Garcia, owner of Las Vegas-based G.C. Garcia Inc., a land planning and development services firm.

Garcia has worked with residents at Badlands, who are in opposition to the redevelopment proposals at Queensridge.

Across the nation, the number of courses has shrunk by 800 in the past decade, according to research from the National Golf Foundation. Much of this is because of lagging interest in the sport and an overabundance of golf courses.

Redevelopment efforts

The Badlands golf course in the master-planned community of Queensridge has been in a battle for more than two years.

In June, developer Yohan Lowie of EHB Cos. forced a vote on four proposals at the Las Vegas City Council that would have permitted 61 homes on 34 acres of the closed 250-acre course. Lowie threatened to stop watering the course, with withdrawing a plan to raise 2,100 condominiums at the site and selling the land if the council delayed the vote.

All were denied.

The only development approved has been for 435 condominium units at the eastern edge of the course.

The vote to approve that development led to a contentious race in June Ward 2 between Steve Seroka and incumbent Bob Beers, who was unseated.

Garcia said the development plan is heading back to the city Aug. 2.

The Legacy Golf Course was one of the latest to be sold. The new owners, Georges Maalouf and Eddie Haddad, have closed the course as of July 4, the day the course sold under Par Excellence Drive Trust LLC.

“Over the next 60 to 90 days, the representing trustees of the properties will continue open communications with the city of Henderson officials and will begin timely discussions with the neighboring businesses and residents,” said Elizabeth Trosper, representative for the new owners. “It is their intent to create a planned-use development that will be enjoyed by neighboring homeowners and provides uses that enhance the viability of the location.”

In a statement, Trosper said the clubhouse and course were closed by the new owners “due to massive financial losses, increased operating costs and declining revenue over the past several years.”

On July 25, residents of the Grand Legacy Community Association filed a motion for a temporary restraining order to prevent new development on the property. The motion maintains that deed restrictions prohibit the new owners from redeveloping the property for 50 years.

A hearing is scheduled for Aug. 3 at the Regional Justice Center at 11 a.m.

Changing industry

Golf has lost a lot of players it once captured.

According to data from the National Golf Foundation, an estimated 30 million people were playing the game. By 2011, that number slipped to 25.7 million — a little more than a 14 percent decline.

In a study done in 2015 by Sports & Fitness Industry Association, a trade association for sports and fitness brands, suppliers, retailers and partners found that the number of people that participated in a game of golf at least once that year was 24.7 million.

The higher number of golfers at one time led to many new courses being built — many of which were attached to real estate.

During the 1960s, the National Golf Foundation found that 18 percent of some 380 golf courses built annually were part of a real estate development. That went up dramatically in a boom period during the 1990s when 40 percent of golf courses were developed alongside a real estate development, according to a study by David Hueber, Clemson University, “The Changing Face of the Game and Golf’s Built Environment.”

“People, at the time (early 1990s), were looking at this gigantic demographic bubble of retirees that were going to be playing golf, and we need a golf course a day when the baby boomers start to retire,” said Jeff Woolson, managing director of CBRE’s Golf & Resort Group. “Well, they did it, there were several years where they built over a golf course a day.”

Over the past decade, many communities were built around courses, but some didn’t have enough residents to support the course to begin with — having too little residents to be able to maintain a course, he said.

“We’ve gone through a phase over the last 10 years with a lot of these golf courses closing, and it’s healthy for the industry,” Woolson said.

Golf course closures, regardless of the reasoning, can affect real estate prices and have done so in the Queensridge community with the closure of Badlands.

“As soon as the news came out that the golf course was going to be removed, people jumped on the market, they put their homes on the market,” said Diane Varney, Realtor at Coldwell Banker Premier Realty. “We had way too much supply of homes for sale in there.”

Issues with value and uncertainty can present problems for being able to sell a home or get a good price. Varney said there is a definite premium for a home that sits on a golf course, has a water feature or has a good view — sometimes gaining hundreds of thousands more dollars for sellers.

While things seem bleak in many parts of the valley for communities surrounding golf courses, some neighborhoods are getting a premium.

Varney said lots at The Summit Club in Summerlin are getting anywhere between $2 million and $10 million for custom lots on the 555-acre country club community.

One of the developers on the Summit Club in partnership with Arizona-based Wolff Co., a real estate private equity firm, made a deal at the end of 2016 to buy the Las Vegas Country Club at 3000 Joe W Brown Drive.

Other course sales, closures

Black Mountain Golf and Country Club at 500 Greenway Road, near E. Horizon Drive and Greenway Road, is another course that has run into trouble and could see redevelopment. Owners of the course filed for bankruptcy March 30, but it is still operating.

The course became troubled after the recession caused discretionary spending to slow, which affected the number of people playing at the course over the past several years, said Candace Carolyn, attorney at Clark Hill.

“Members even made loans to keep the property operating,” Carolyn said. “They’ve explored every avenue, but the bottom line is that the golf course operations are not profitable.”

The Silverstone Ranch Community Association is still in pending litigation over the closure of the Silverstone Golf Club at 8600 Cupp Drive at the end of 2015. Stoneridge Parkway LLC, which bought the property in December 2015, filed for bankruptcy not long after. In mid-April, however, its case was dismissed.

Desert Lifestyles, which bought the course and clubhouse just before Stoneridge in September 2015, closed the facility at that time. Desert was sued by Silverstone Ranch Community Association for its action, and litigation is still ongoing.

The Siena Golf Club in Summerlin has also had its troubles.

As reported in the Las Vegas Review-Journal on April 26, Dr. David Lee, one of three owners of Siena, wrote homeowners by email stating he may want to sell the course, as it’s losing money. The homeowner’s association was considering voting on the proposal.

Investment has also happened in the golf sector. Apollo Global Management LLC, a private equity firm, agreed to pay $1.1 billion for ClubCorp Holdings. ClubCorp has two holdings in Las Vegas: Canyon Gate County Club at Sahara Avenue and Durango Drive and Bear’s Best Las Vegas, which sits just west of Town Center Drive on Flamingo Road.

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7 Real Estate Facts You Probably Didn’t Know

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1.Home Ownership is an Important Way to Build Wealth

Home ownership isn’t for everybody. But those who step onto the home ownership ladder steadily build wealth over their lifetime. A typical homeowner’s net worth was $195,400, while that of the typical renter was $5,400, according to 2013 data from the Federal Reserve, the most recent available. New data is expected in 2016, and Lawrence Yun, chief economist of the NATIONAL ASSOCIATION OF REALTORS®, predicts it will show $225,000 to $230,000 in median net worth for homeowners and around $5,000 for renters.

2. Owning Real Estate Can Save You Hundreds in Taxes

If sending a chunk of your hard-earned money to Uncle Sam or your local government makes you nuts, real estate is for you. When you own, you may be eligible for a slew of real estate tax deductions and credits, including state and local income and property taxes, and mortgage interest and mortgage insurance payments. At the average tax rate, real estate deductions helped taxpayers save roughly $100 billion in 2015, according to NAR analysis.

3. Buyers Who Tapped Expert Real Estate Advice Were Glad They Did

When buyers who’ve recently worked with a real estate agent were asked why they teamed up with one, more than half said it was an important step in finding the right home, according to NAR’s “2015 Profile of Home Buyers and Sellers.” Nearly four out of five consumers, 78%, say their agent was a very useful source of information.

4. Sellers Were Just as Happy They Worked with a Real Estate Pro

Your fellow consumers wholeheartedly believe it’s important to work with an agent when selling. Nearly nine out of 10 sellers, or 89%, did just that. They also reported a median gain on the sale of their home of $40,000 more than they paid for it, according to NAR’s “2015 Profile of Home Buyers and Sellers.”

5. Sellers Who Spruce Up and Declutter Their Home Draw More Interest

Staging a home makes a big difference in buyers’ ability to see its potential. Four out of five real estate agents who work exclusively with buyers say staging makes it easier for buyers to visualize themselves living in the staged home, according to NAR’s “2015 Profile of Home Staging.” Stage to Sell a well-staged home increases the price buyers are willing offer, say almost 75% REALTORS® who were surveyed about staging. Nearly half say staging will increase a home’s market value , and just under one-third say buyers are more willing to overlook a property’s faults when staging highlights its best features.

6. Sell-It-Yourselfers Are a Dwindling Crowd

The number of sellers who sold their home without a real estate pro has dropped to 8%, according to the buyer and seller study — the lowest share since this stat was first tracked in 1981.

7. Sellers Who Go It Alone Leave Money on the Table

The median price of homes sold without the expertise of a real estate agent was $210,000 in 2015. That’s $35,000 less than the median price of homes sold by sellers who worked with an agent, or $245,000, according to the buyer and seller study.

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Home prices and sales in Southern Nevada continue

2017.2017

According to the Greater Las Vegas Association of Realtors, the recent trend of rising home prices and sales in Southern Nevada continued.

GLVAR reported the median price of existing single-family homes sold increased to $242,000. Meanwhile, the median price of local condos and townhomes sold was $122,950, up 4.2 percent.

GLVAR President David J. Tina pointed out that the median home price in Southern Nevada has nearly doubled from $123,000 five years ago and has continued to increase this year despite potential headwinds like a shrinking local housing supply and rising mortgage interest rates.

Like prices, local home sales have also been increasing this year. The total number of existing local homes, condos and townhomes sold was 3,903, up from 3,488.  Compared to one year ago, sales were up 14.8 percent for homes and up 0.4 percent for condos and townhomes.

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According to GLVAR, 2017 is ahead of the sales pace in 2016, when 41,720 total properties were sold in Southern Nevada. That was more than the 38,577 properties sold during 2015. It was also more than in 2014, but fewer than each year from 2009 through 2013.

At the current sales pace, Tina said Southern Nevada has less than a three-month supply of homes available for sale. A six-month supply is considered to be a balanced market.

GLVAR reported 5,488 single-family homes listed for sale without any sort of offer. That’s down 23.9 percent from one year ago. For condos and townhomes, the 715 properties listed without offers represented a 69.0 percent drop from one year ago.

For several years, GLVAR has been reporting fewer distressed sales and more traditional home sales, where lenders are not controlling the transaction. That trend continued when 4.4 percent of all local sales were short sales – which occur when lenders allow borrowers to sell a home for less than what they owe on the mortgage. That’s down from 5.9 percent of all sales in 2016.

GLVAR said 29.5 percent of all local properties sold were purchased with cash, compared to 27.7 percent in  2016. That’s well short of the 2013 peak of 59.5 percent, indicating that cash buyers and investors are still more active in Southern Nevada than in most markets, but that their influence has generally been declining.

 

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