Nevada REALTORS® donate $15,000 to help hurricane victims

by | Sep 18, 2017

RRFThe Nevada Association of REALTORS® (NVAR) has donated $15,000 to help victims of recent hurricanes in Texas, Florida and surrounding areas.

NVAR President Greg Martin said NVAR’s donation to the REALTORS® Relief Foundation created 16 years ago by the National Association of REALTORS® (NAR) will be used to help members of the public who need help recovering from Hurricanes Harvey and Irma.

“It’s important to do what we can to help people in need rebuild their lives after these natural disasters,” Martin said. “By donating to the REALTORS® Relief Foundation, 100 percent of the funds go directly to help people affected by these storms. None of this money is used for overhead or administrative costs.”

Martin, a longtime REALTOR® based in Elko, Nev., added that NVAR and its members throughout Nevada may donate more to this fund in the coming weeks and months.

NAR launched the REALTORS® Relief Foundation (RRF) as the REALTORS® Relief Fund in 2001, within hours of the devastating Sept. 11, 2001 terrorist attacks – raising more than $8.4 million so that surviving family members could stay in their homes. Since then, more than $25 million has been raised for victims of disasters, including wildfires, tornadoes, floods and hurricanes. Today, RRF exists as a 501(c)(3) organization established to provide housing-related assistance to victims of disasters and for other charitable purposes permitted under Section 501(c)(3) of the Internal Revenue Code.

Nevada REALTORS® donate $15,000 to help hurricane victims

RGJ: NVAR report shows HOA foreclosures tied to more than $1B in lost Reno, Vegas home values

WEB-WolfRunHouse1Foreclosures by homeowner associations in Nevada’s two major counties led to more than $1 billion in lost property sale values, a report found.

The Nevada Association of Realtors report looked at the impact of sales involving properties that were foreclosed after residents failed to pay their HOA fees. The study was done by the University of Nevada, Las Vegas’ Lied Institute for Real Estate Studies.

Homeowners association foreclosures are a controversial topic in Nevada, where HOA assessment liens are given higher priority over the rights of the first mortgage holder such as the lender.

Geoff Giles, a Reno real estate attorney, says he is surprised that the lost value in the Nevada Association of Realtors report was not higher. Read more here.