Fall, 2010

Published by Nevada Association Services, Inc. your “No Cost to the Homeowners Association” delinquent assessment collection specialist.

Economics Revisited By David Stone, President

very now and then, I like homes. They need a place to sleep and eat What should your community association Eto revisit the current and raise kids. So, the impression the be doing during these tumultuous real state of the real estate market media would often like to leave you with, estate times? As I have said on many and the state of community doom and gloom and the end of time, occasions, stay the course. Our clients associations in particular. As simply is not the case. who continue the course of standard, we enter the 4th quarter of legal collections, have not shared the 2010, now seems like a good time to take a I do not see 2011 as providing community same financial suffering as those look into these areas. associations with the needed rebound in community associations that have the real estate market. Most experts do implemented wide spread, dramatic, As of the 2nd quarter of 2010, Nevada had not expect 2011 to get too much worse. In ineffective and overreaching changes in the dubious honor, once again, of having fact, the median price of a new home rose basic collection policies. These times are the highest foreclosure rate in the country. for the third consecutive month, to challenging for community associations By some estimates, 1 in 84 homes in the $220,000. This is an increase of just under and the collection issue is complex, now state received some type of foreclosure 5% over last year. This is a good sign. In more than ever. It is very important that notice this year. Couple that with Nevada August 2010, there were 401 new home you rely on your NAS Representative to having the highest unemployment rate in sales, which is also a positive sign, but provide you with solid, dependable the country (14.4%), things are not good! home resales fell by 13% from 2009. With advice. Just like you should not take pool I hate to sound like a broken record, and I all of this mixed information, is there a maintenance advice from your attorney, know many of you have heard me say this bottom line? Well, not really. However, you should not take collection and real time and time again, but it must remain one thing is clear: this remains a great estate related guidance from your clear that most people are NOT losing time for sidelined home buyers to consider neighbor, fellow board member, or real their homes to bank foreclosures. Most getting into the game. In fact, a number of estate agent friend. You need to depend people are making their monthly mortgage NAS employees have purchased first on experts: The NAS Experts. payments. This means that most people homes in the last year, simply because of have every intention of staying in their the devastated real estate market. NEVADA ASSOCIATION SERVICES, INC. DEPARTMENT/CONTACT INFORMATION Editor’s Letter By Andrea Behrens, VP Sales & Marketing 6224 W. Desert Inn Rd., Las Vegas, NV 89146 You can now find NAS, Inc. on Facebook,Twitter and YouTube. LAS VEGAS en years! What have you things while looking for input from you. 702-804-8885 Main Tbeen doing for the last Each year we try to pass knowledge onto 702-804-8887 Fax 10 years? As for me, I moved you through various formats, such as ESCROW FAX to Las Vegas, started a new seminars, CE classes, episodes of 702-222-2269 career, married a wonderful man and had 2 beautiful RENO children, wow! 775-322-8005 Main 775-322-8009 Fax August 26, 2010 was Debbie Kluska’s 10 PRESIDENT year anniversary with Nevada Association David Stone - [email protected] Services, Inc. What a milestone! According to the United States Department of Labor VP OF SALES/MARTKETING 25.7% of people have been employed 10+ Andrea Behrens - [email protected] years with the same employer. That is only 1 out of 4 people. HOA SALES Debbie is an example of what Nevada Misty Blanchard - [email protected] Association Services, Inc. stands for: MANAGEMENT COMPANY CHANGES commitment and stability. We all have tough times and not everything goes perfectly, but Homeowner Talk, or phone or face-to-face Debbie Kluska - [email protected] it’s getting through those times that makes conversations. We are here to support you. you a better person or a better company. BANKRUPTCY/PAYMENTS Kudos to Debbie for her commitment and After 10 years of proving to be a dedicated June Gerber - [email protected] stability, and kudos also to David Stone for and reliable company, the industry starts the way he runs his business. to look at you as an expert as well. The TV PAYMENT PLANS Stations, Newspapers and Magazines look Shanel Macias - [email protected] There are companies you have worked to David Stone for expertise in the industry, with in this industry that are here today as do many local Politicians as well. CANCEL/HOLD FILES/MANAGEMENT QUESTIONS and gone tomorrow. NAS is here, locally Debbie Kluska - [email protected] run and operated. When you call the Please allow us to share with you the Shea Watkins-Williams - [email protected] office we are here to help you. The experience we have in our office. No other Direct line - 702-220-4410 dedication and reliability of the staff collection company in town can give you should give you the confidence you need the same committed and stable HOMEOWNER CONTACT to know that your associations’ collections performance as NAS. Rosie Silva are in good hands. After 10 years we have - [email protected] learned a lot: we know what works and We look forward to continuing to work ESCROW DEMANDS what doesn’t. Since we are planning to with you for the next 10 years. continue doing business for the next 10 Heather Hendershot - [email protected] years, we are continually trying to improve Andrea DISPUTES Veronica Meraz - [email protected]

NEW ACCOUNTS/ADDRESS CHANGES Spotlight On...Heather Hendershot Megan Alexander - [email protected]

ello, my name is Heather Hendershot and I am the Escrow Coordinator SENIOR FORECLOSURE SALES Hin the Customer Service department here at NAS. I have been with NAS Edna Rice - [email protected] for two years now. I started in the mail room and was also a receptionist for a short time. What I like most about working at NAS is being able to help ONLINE PASSWORDS clients and make sure they get their questions answered and problems Megan Alexander - [email protected] resolved. I am originally from Colorado and moved to Las Vegas about 12 years ago. Outside of work I really enjoy dancing. I also love hiking and rock climbing OTHER outdoors. My family recently moved to Texas, and I decided to stay behind and focus on Sam Ahern - [email protected] work. I am hopeful to stay with NAS for the long term, as I love and enjoy my job and everyone who works here at NAS. Erika Ward - [email protected] Yolaunda Erskine – [email protected] NEVADA ASSOCIATION SERVICES, INC. DEPARTMENT/CONTACT INFORMATION Lender Foreclosures Reflecting on Goals 6224 W. Desert Inn Rd., Las Vegas, NV 89146 By Debbie Kluska By Erika Ward, Office Administrator decided in this newsletter I would talk about can’t believe it’s already October! Before we know it, the LAS VEGAS Ilender foreclosures, since we have received INew Year will be upon us, and it will be time to make our 702-804-8885 Main many questions regarding this topic. While new resolutions. That means now is a perfect time to look back 702-804-8887 Fax the rise in lender foreclosures has been steady on the goals we set for 2010. Have you reached yours yet? If ESCROW FAX for a while now, do not let this discourage you not, you still have a few months to accomplish what you said 702-222-2269 completely! NAS is here to advise you and you would. It’s a great time to finish the project that keeps get- monitor the actions of the bank to pursue collections for ting pushed aside, and make it a priority before the holidays creep up! RENO your HOA. If owners are working with a bank in an effort 775-322-8005 Main to keep their homes, then they should be working with their Personally, I’d been telling myself that I will revamp my filing system for 775-322-8009 Fax HOA as well. We are told by owners, “I can’t pay my about eight months now, but this still had to be done. Knowing that once PRESIDENT assessments since I am trying to catch up on my mortgage”. I completed the project, it would be easier for me to stay organized, I set David Stone - [email protected] Since both entities have the authority to foreclose, both aside a few hours this week to finally cross the item off my to-do list. As contractual agreements need to be upheld if the owner they say, there’s no time like the present. Do you have a task that has been VP OF SALES/MARTKETING wants to remain in his or her home. By speaking to an carried over from month to month? If so, now’s the time to finish it! You’ll owner who is in default with a mortgage, we can assist that feel good about it, and it will help give you a fresh start for the coming year. Andrea Behrens - [email protected] person in working out a payment arrangement for the HOA Okay, now stop reading and get to it. Good luck! assessments as well. HOA SALES Misty Blanchard - [email protected] If that is not the intent of the owner and the lender schedules a sale and ultimately forecloses, then NAS will MANAGEMENT COMPANY CHANGES demand the super priority amount from the lender or ATTENTION Debbie Kluska - [email protected] purchaser of the property. This brings up another question MANAGERS! that we have recently been asked. The lender’s foreclosure You can now call BANKRUPTCY/PAYMENTS takes place at a public auction. If there are no bidders at the June Gerber - [email protected] auction, then the property reverts back to the lender. We 702-220-4410 are sometimes questioned why the bank is not notified of to speak directly to Shea or Debbie PAYMENT PLANS the HOA lien immediately after the sale. Until the deed Shanel Macias - [email protected] records we have no way of knowing who is the actual property owner, and we are required to send notice to the CANCEL/HOLD FILES/MANAGEMENT QUESTIONS owner of record. The ABCs about HOAs. Debbie Kluska - [email protected] Shea Watkins-Williams - [email protected] While the purchaser at the trustee sale is required to record a trustee’s deed within thirty days, occasionally, Direct line - 702-220-4410 the County rejects it because of strict recording HOMEOWNER CONTACT requirements. Requiring that the deed is recorded within thirty days has made the process of moving forward Rosie Silva - [email protected] much quicker this past year since the law went into effect. SUBMIT YOUR QUESTIONS AT If you feel your community has many homes in foreclosure, ESCROW DEMANDS and you would like to further discuss the progress of an HomeownerTalkTV.com Heather Hendershot - [email protected] account, please call us. Hosted by DISPUTES John Leach Veronica Meraz - [email protected] FREE CLASS FOR COMMUNITY MANAGERS and David Stone Come join NEW ACCOUNTS/ADDRESS CHANGES David Stone and Kirby Gruchow, Esq. 7:00 PM Megan Alexander - [email protected] as they teach Tuesdays “Bankruptcy and Foreclosures on KCLV SENIOR FORECLOSURE SALES in the Common Interest Community” Edna Rice - [email protected] Channel 2 December 1, 2010 • 9AM-12PM ONLINE PASSWORDS Las Vegas Chamber of Commerce Megan Alexander - [email protected] HOME-SPUN WISDOM. 6671 Las Vegas Blvd. South, Town Square - Suite 300 Las Vegas, 89119, 702-641-5822 OTHER Sam Ahern - [email protected] 3 Credits CE.0108000-CAM • Breakfast will be served Find us on Erika Ward - [email protected] RSVP to [email protected] • 702-804-8885 facebook Yolaunda Erskine – [email protected] 6224 W. Desert Inn Rd. • Las Vegas, NV 89146

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