Shall-Ching Lu

Latest Update on Las Vegas' Hotest Construction City Center!

See below for up-to-date views illustrating the remarkable progress at CityCenter.
Recent construction updates include:

• Vdara Condo Hotel signage is up and illuminated at the top of the tower,
  marking the first exterior building signage to be completed

• The structure for CityCenter Place, the project's main arrival,
  is nearly complete. This dramatic entrance to the community allows
  for easy access to ARIA Resort & Casino, Veer Towers,
  The Residences at Mandarin Oriental, Las Vegas and Crystals

• The Residences at Mandarin Oriental, Las Vegas and
  ARIA Resort & Casino have both topped-off and work is in progress
  on finishes in the hotel guest rooms

Call me at 702-212-2288 to discuss more details on the progress of City Center and any other real estate questions you have! You can also email me at homes@BigLifeEvent.com or visit my website at www.BigLifeEvent.com.

For Construction photos click the links below.

http://www.citycenter.com/offers/2008/11_construction_update/index.html#const_1

It's the most common way that buyers and sellers choose their real estate practitioner. So what's stopping you from asking for more referrals?

Even as the Web has become the preeminent home-search tool for consumers, referrals are still the No. 1 way buyers and sellers find their real estate practitioners.

When asked how they found their real estate agent, 43 percent of all buyers and 41 percent of all sellers said they were referred by a friend, neighbor, or relative, according to the NATIONAL ASSOCIATION OF REALTORS® 2007 Profile of Home Buyers & Sellers.

Only 11 percent of all buyers and 22 percent of all sellers used their previous agent, which was the second most-popular response.

The numbers are compelling, but they don't make it any easier to ask family and friends to send business your way. That's why we consulted some top sales coaches to provide conversational direction for your referral dialogues. The next time you feel tongue-tied about asking for referrals, practice these simple scripts to up your confidence-and your business.

1. Ask for referrals from a current customer.

The situation: After you've had several positive business interactions with customers or clients, it's a great time to ask them to tell their friends and family about you.

You: "I have a favor to ask you, but only if you're comfortable with it."

Seller: "Sure, I guess so."

You: "It's been my experience that while we're working together on selling [or buying] a house, most of my clients discuss the experience with their friends, relatives, and people at work."

Seller: "Oh, I talk to people about it all the time."

You: "That's great. During those conversations, has anyone you're talking to mentioned that they are also thinking of buying or selling a property."

Seller: "Yes, a couple of people have."

You: "When that happens, I would really appreciate it you would tell the person about me and why you chose me to be your sales associate. Also tell them to expect a call from me within the next 48 hours. Then, with their permission, I need you to call me with their name and number so I can make that call. OK? Are you comfortable doing that?"

Seller: "Sure, I'd be happy to do that."

You: "That's great. I really appreciate it."

Source: Ed Hatch, CRB, CRS®, trainer and coach, Gambrills, Md.

2. Ask for referrals from family and friends.

The situation: You're at a family function or a gathering of friends-or maybe you've just run into an old buddy at the grocery store. When the topic turns to real estate or your job, it's a prime opportunity to remind that person you can provide top-notch service to people your friend knows.

You: "By the way, if anyone starts talking to you about an interest in buying, selling, or investing in a home, it would be really helpful to me if you'd tell them that you have a friend who's a great real estate salesperson and would love to help them. And you know I'll give them the extra attention that I give every one of my clients."

Family/Friend: "Sure, I'll do that."

You: "Thanks. I really appreciate it. And if they're interested, ask if it would be OK for me to give them a call to talk, will you?"

Family/Friend: "OK."

You: "By the way, what are your real estate goals for the next year?"

Family/Friend: "Well, I've always wanted to buy a house to fix up, rent, and get some money coming in for my retirement."

You: "That's a great idea. This is a great time to find some terrific buys. Have you done anything about making that dream come true?"

Family/Friend: "Nothing yet. It's just something I've been thinking about."

You: "Why don't you let me buy you breakfast on Saturday so I can tell you more about how market trends may work in your favor over the next year. You can also tell me more about what sort of property you want so that I can keep an eye out for a deal you might be interested in."

Family/Friend: "That sounds great. It's a date."

Sources: Ed Hatch, CRB, CRS®, trainer and coach, Gambrills, Md.; Susan RoAne, president, The RoAne Group, Greenbrae, Calif.; Darryl Davis, speaker and sales trainer, Long Island, N.Y.

3. Plant the seed for a future referral.

The situation: You've just run into an old colleague or friend. Make small talk appropriate to the situation before you mention your business and ask for the referral.

You: "By the way, do you know I sell real estate? I've been doing it for [fill in the blank] years."

Acquaintance: Oh really.

You: "I was just wondering if you've talked with anyone recently who might be interested in buying or selling a home?"

Acquaintance: "Hmmm, I can't think of anybody off the top of my head."

You: "That's OK. But if you do hear of someone in the future, will you keep me in mind? I'd really like to get the chance to work with anyone you know who's looking to buy or sell. Please just give me a call or drop me an e-mail if you hear of anything."

Acquaintance: "Sure, I'll do that."

You: "Just to make it easier for you to share my contact info when the subject comes up, may I give you a couple of my business cards?"

Acquaintance: "Sure."

Source: Ed Hatch, CRB, CRS®, trainer and coach, Gambrills, Md.; Susan RoAne, president, The RoAne Group, Greenbrae, Calif.; Darryl Davis, speaker and sales trainer, Long Island, N.Y.

Rates Are Thru the Floor!!!

We had a severe rate change today. Our 30yr Fixed is at an unbelievable 5.5% with NO POINTS!!! How Long will it last?

To overstate the obvious, this is an extremely volatile market. With a gloomy outlook for the holiday retail sector we anticipate rates staying low, through the end of the year. With the New Year and a new President, look for renewed feelings of optimism, market gains and as a result probably higher rates for mortgages. With the combination of low rates and end of the year inventory blowouts from banks, it's hard to think of a better time to buy a house. Get them SOLD and in escrow with an early January or late December closing, turn the file over to a Lender you can trust .

Additionally, don't forget the FHA downpayment requirement is still scheduled to increase to 3.5% on Jan 1, 2009. Do you sense a theme?? There's never been a better time to buy a home!!!!

We still have 95% Conventional Financing available with a 660 Fico!!!

Call me at 702-212-2288 to discuss your options! You can also email me at homes@BigLifeEvent.com or visit my website at www.BigLifeEvent.com.

http://las.mlxchange.com/Pub/EmailView.asp?r=898183433&s=LAS&t=LAS

Check out this home and read below to find out why this is one of the best buys in today's market!!

*Monthly mortgage payment and interest is $780

*Monthly taxes $110Monthly insurance $50

*Monthly association dues $50

*Total $990 includes all your expenses

If this property were to be rented out it would rent for $1,200. Call me at 702-212-2288 for homes on my best buy list!

Shall-Ching Lu

Keller Williams Realty Las Vegas

I've put together Six Resources to Help New Homebuyers Purchase a Home in the Las Vegas market. If you thought 0% downpayment is gone here is a list of options for first time home buyers or those who have not owned a home in the past 3 years. Call me at 702-212-2288 to discuss your needs and to find out which program best meet your needs!

HOPE (Housing Opportunities, Programs and Education)
*Companies to assist their employees in buying a home
*Depending on income assist families in buying a home


Requirements:
*Attend an initial home buyer seminar
*Setup one-on-one appointment
*Attend post counseling for a year once home is bought

HUGS (Help Us Give to Our Schools)
*Provide anywhere from $2,000 to $12,000 toward a new homebuyer's downpayment or closing cost

Requirements:
*Homeowner must be a HUGS foundation mortgage agent
*Combined income not to exceed $82,500 for families or $41,000 for singles
*Liquid assets cannot exceed $15,000.
*Borrower must invest minimum 1% of his or her own funds and occupy the home for at least 3 years

Nevada Housing Division
*First time homebuyer program providing up to $10,000 in assistance on fixed rate 30 year loan.

Requirements:
*Buyer must complete a 6-8 hour homebuyer counseling course
*Buyer must not have owned their own residence within the past 3 years
*Total gross household income must fall within an income limit which vary from $65,500 to $97,300
*Maximum purchase price limits range from $237,000 to $429,619

The city of Las Vegas
*Allows applicants to borrow up to $10,000 to help with downpayment and closing costs
*Loan is interest free, with no monthly payments
*Payment is deferred for a 5-year period after which time it MAY be forgiven

Requirements:
*Must be first time home buyer
*Make minimum investment of $500 (in some cases up to 3% of the loan)
*Complete an approved homebuyer training course

The city of North Las Vegas
*Offers assistance in downpayment with 0% interest, deferred payment laon of between $1,000 to $37,500 secured by a deed of trust.

Requirements:
*Total household assets cannot exceed $30,000
*Total gross household income at or below 80% of the area's medium income
*Buyers must occupy property as principal residence and not have owned a home in the last 3 years
*Contribute a minimum of $1,000 from personal funds to be used as an administrative fee

Henderson First Time Home Buyer Program
*Assist with 0% interest deferred loan not to exceed 10% for downpayment only
*Loan up to an additional 3.5% in closing costs and include extra financing for home repairs

Requirements:
*Applicants must either work or reside in Henderson for at least one year prior to applying
*They must not have owned a home within the past 3 years
*Complete a city's First Time Homebuyer Education program
*Must have a minimum investment of $750 of your own funds toward the home and $750 in reserves
*Annual income must not exceed a range from $35,750 to $67,450

For more information on first time home buyer assistance program (including those who have not owned a home within the past 3 years) call me at 702-212-2288.