Vegas is changing with more high rise condos being completed on the Strip....
Another Las Vegas project close to finishing has filed Chapter 11.
"Creditors have forced the 63-unit Onyx condominium project on Duke Ellington Way into involuntary Chapter 11 bankruptcy.
Onyx ranged from 740 square feet to 2,300 square feet and were priced from the $400,000s to more than $900,000″ and was located close to the strip and mccarren airport.
We have noticed that more and more REO properties are being fixed up by the bank. Over the past 6 months 70% of all sales have been REO properties so those properties were probably in better shape than what is left. We have been doing REO tours over the past 3 weeks and we have seen a ton of properties in bad shape with DOM stats ranging in the high 7 months plus.
So we have seen crews in condos and single family homes putting low grade carpet and paint which is just enough to get it sold.
A good sign the market is turning and banks have adjusted to the market. Their adjustment was like making a u-turn in a aircraft carrier which dosent turn on a dime. Good news all in all.
Over the past three months we have seen over 50% of the foreclosures either close or go contingent meaning the Buyers are coming off the fence and taking action.
Some of my clients are running into multiple offers with the reo listing agents where we do not get anything back in writing from the bank or the agent just and email or phone call asking for our highest and best offer.
We tour or preview as many foreclosures as possible taking photos to not waste time on properties that are completely thrashed or gutted by the former owners or tenants. Most foreclosures are not move-in ready and need carpet, paint and most of the time appliances which is a big diffrence than having all of the doors kicked in, sheetrock crushed everywhere, and copper ripped out of the walls.
Last, week we toured 3 bed 2 bath homes in the south, southwest and north las vegas under $200k and there wasnt inventory that didnt need $15k and more put into rehabbing the unit.
The market is picking up just in time for summer.
Professional, Personal Real Estate Services. We treat every transaction as if it's our own" Residential Real Estate and Full Service Property Management. Call us if you have questions.
Olivia's Bio
About Olivia McClellan, Broker REALTOR® of TRIPLE8 ASSOCIATES Inc
"Knowing the real estate market is my business and my passion!"
After almost 19 years of experience as a Real Estate professional include acquisitions, sales, development, and management, in 2007. I along with my husband and partner opened TRIPLE8 ASSOCIATES Inc.
We are a Real Estate brokerage and property management firm that combines my years of experience and expertise in real estate and my husbands 15 plus years of technology and Internet marketing expertise, to create a different kind of real estate brokerage in direct response to today's technology and Internet savvy consumer. We offer personalized customer service while transforming the real estate transaction into a streamlined technology based process, creating efficiencies saving the consumer time and money.
I hold both a Broker's license in Nevada and active sales license in California, as well as a B.A. in Marketing and Communications. I am an active member of the Greater Las Vegas Realtors® Association, currently serving on the Association's Education Committee soon to start my fourth year. I am a member of Woman's Council of Realtors® (WCR), Risk Reduction Graduate Society (RRG), and Real Estate Buyer's Agent Council (REBAC) and Certified Residential Specialists (CRS) I hold my ABR, CRS, GRI, and RRG designations.
I served the 2007 WCR board as Education Chair and was honored to be awarded the 2007 WCR Vanguard Award and in 2002 awarded Elite Manager of the Year Award.
In 2008, I will serve as the Communications Chair for the local Las Vegas Chapter of CRS and as Vice Chair of Technology for WCR. And in addition to the GLVAR Education Committee, I will serve on the GLVAR Grievance Committee for 2008 and have been selected as a member of the class of 2008 Leadership NVAR program sponsored by the State Nevada REALTORS® Association.
As an Asset and Acquisitions Manager and Regional Property Manager, I specialized in multi-family residential housing, managing a portfolio of over 1000 units and valued today at over $150 million.
Additionally, I have managed more than 120,000 square feet of commercial office space and a $1.7 million dollar tenant improvement project.
In the field of new development and construction, I served as project manager for a $13 million dollar, 236 unit condominium construction project. I also have extensive experience in construction litigation, working with corporate attorneys to chronicle and record evidence in defect litigation that ultimately resulted in a $12 million settlement. I have served as project manager in defect remediation, and building rehab-projects totaling over $42 million.
I am the author and creator of The High Rise ReportTM, an information-driven online report geared to the needs of REALTORS® interested in the Las Vegas high rise estate market. The report, an outgrowth of my website www.OliviaSellsVegas.com, merges my Real Estate expertise, instincts and extensive research, with my vision and excitement about the vertical growth of Las Vegas.
My diversified experience in the real estate industry allows me to bring top notch expertise, integrity, and vision to anyone looking to buy or sell real estate.
I truly do treat every transaction as if it were my own, with passion and the knowledge that real estate promotes personal wealth.
Contact Me today and let my expertise work for you.
My area Aof expertise is working with Investors with purchasing or turning properties via 1031 exchanges, REO, Foreclosure Aquistions, new homes and Las Vegas resales.
I am ABR Certified so I work with Buyers specifically to find them the home they want based on their buying power..
Real Estate is my Passion.
Contact Me today and let my expertise work for you.
Olivia McClellan, ABR, CRS, GRI, RRG
Broker/Owner, REALTOR®
Triple8 Associates Inc
5940 S. Rainbow Blvd. Ste 1007
Las Vegas, NV 89118
Direct 702-372-2671
Fax: 702-543-4845
Olivia@triple8associates.com
Visit me online at www.triple8associates.com
Olivia's Testimonials
"I saw an ad for Olivia in the newspaper. I was moving across the country while my husband went overseas, and had never bought a house before. The single worst position to be in. Olivia explained the entire process to me, step by step, from across 3 time zones. She got to know me and what I wanted, and though I'd planned to wait until I got here and could see the house, she got to know me so well that she managed to find a house I was comfortable enough buying from across the country--and we love it! There were many times I felt I was Olivias only client. She took all the time needed to explain whatever needed to be explained. Olivia ROCKS!"
Renee
“I just wanted to thank you again for being so patient with us and for doing such a great job. I must say, we've never worked with an agent that works as hard as you do.”
Kim and Randy, Relocating to Las Vegas
“Thank you for all you help and insight. You have truly made this experience enjoyable. You really are a blessing."
David, Regional Sales Manager
“We are so glad we found your Website. It provided us with all of the information we needed to make the decison to call you about our new home purchase."
Wendy, Relocating Family
“You are phenomenal. This is exactly what I needed. Thanks.”
Sandra, Consultant
“Olivia has excellent customer service skills and attitude. I have a very high level of confidence in Olivia’s judgment and problem solving skills. She always goes the extra mile. No one is as reliable and punctual as Olivia. She is ALWAYS prepared.”
Joe, Executive Vice President
“Just a quick note, Olivia you are the best! Thanks for all your hard work and quick responses to any issues. We are so glad to have someone of your caliber with us. I am very impressed with the culture you have obtained”
Eric, Director Product Development
”Awesome! She Rocks!”
Rob, CEO and President
“You’ve been recognized for your leadership in the area of community service, and nominated to act as chair of the community services committee. Congratulations.”
Joseph
Executive Vice President
“Olivia, Great job! This is exactly what we were looking for.”
Nelson, Emergency Response Coordinator
“One again Olivia has outdone herself! No matter what I ask for, she finds the time to get it accomplished.”
Nan, Business Continuity Planning Manager
“What can I say? It’s been an honor for me to work with you. You have given me so much knowledge and experience that I will never forget. Thanks for being a GREAT manager and mentor, I really appreciate everything you have done for me, like pushing me to achieve my goals.”
Jerry, Previous Employee/Current Loan Officer
“Olivia went more than the extra mile…I was the recipient of excellent customer service. Thank you for everything you do. Your dedication and commitment to our success is truly appreciated.”
Jeri
Olivia is one of our most driven managers. She exemplifies company passion, pride, and performance. She is relentless at delivering on schedule and almost always exceeding expectations.”
Joe, Executive Vice President
“Olivia has strong ethics and strives to meet a high standard. She meets and exceeds this goal. I found her to be energetic, professional, and extremely capable.”
Johrita, President/Business Owner
“I found Olivia to be extremely professional, appropriately direct, and very effective.” Dale
CEO and President
“Olivia has always surpassed performance expectations. She is organized, professional, and thorough.”
Patricia, Vice President
“Olivia has a personality that makes it easy to work with. She has an excellent sense of responsibility and is able to handle situations in a firm and professional manner.”
Richard, Business Owner
“Olivia is possessed of the quick decision making abilities which is necessary to get he job done. Because of her hard work, dedication and commitment, to my mind her ability to “stick-to-it” would make her a qualified person to handle most any position”
Steve, Attorney at Law
“Olivia is a committed, predictable, and reliable person.”
Matthew, Real Estate Investor/Business Owner
“Olivia has proven herself to be resourceful, energetic, and dedicated not only to the job she does, but the community she serves.”
BJ, Manager
“Olivia quickly became one of our top sales reps and was soon promoted. Her out going personality, and hard work kept her in the top percentile nationwide.”
Kevin, Branch Manager
“Olivia has done a magnificent job leading and taking charge. She sleeps, eats, and lives MAX Q!”
Peer Recognition nomination
December 2003
“Olivia is to be congratulated for her empathy for and personal commitment to the community and her leadership to deliver at such a level.”
Peer Recognition Award
April 2003
“Thanks to Olivia and her team, the food drive was an over whelming success. Close to 30 trucks were stuffed with food and diapers and over $1500.00 cash was collected. We heard first hand from wives and children from Camp Pendleton, whose husbands and fathers are over seas…You all really did a great thing and made a difference in our community. Thank you again for your support.”
Company News Letter, April 2003
“For outstanding professionalism, commitment, and dedication to team work and company goals, Olivia Is recognized as exceptional, consistently exceeding expectations and creating significant value by delivering high-quality and measurable results and is awarded the ELITE EMPLOYEE AWARD for 2002. Her commitment to the Company vision is evident.”
Company News Letter,
“Olivia is consistent in doing an excellent job.”
Peer Recognition Award, September 2002
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