Dave Guinan's Blog

Incorporation links by State

Wed, 28 Sep 2011 18:16:52 GMT

Incorporation information links to every state

Foreclosure versus Short sale - which is better?

Fri, 23 Sep 2011 18:03:23 GMT

Is it better to attempt a short sale rather than allow a foreclosure?

Links to useful resources

Tue, 06 Sep 2011 17:51:55 GMT

Links to useful resources

Deficiency judgment - a risk if the property is worth less than what's owed

Sun, 03 Jul 2011 19:36:30 GMT

Deficiency judgment -- what can happen after foreclosure if you're upside down

The Foreclosure Process

Sun, 03 Jul 2011 18:24:10 GMT

This is how the foreclosure process works

Power of attorney for healthcare - state your intentions!

Sun, 24 Apr 2011 22:24:03 GMT

Power of attorney for healthcare - state your intentions!

Dave Guinan to Speak in "It's Your Estate" Series

Wed, 20 Apr 2011 00:46:16 GMT

Tomorrow and Thursday I will be giving free instructional presentations about Advanced Health Care Directives, Guardianships, and Powers of Attorney over assets.. These 90 minute classes are a part of the 6 week series of presentations on "It's Your Estate" sponsored by KNPB, Community Foundation of Western Nevada, and numerous other non-profit groups.

The presentation on Wednesday, April 20 will begin at 2:00 p.m. at Spanish Springs Library, 7100 Pyramid Way, Sparks, Nevada.

The presentation on Thursday, April 21 will begin at 3:00 p.m. at South Valleys Library, 15650 Wedge Parkway, Reno, Nevada.

Please come join us. There will be lots of interaction during these important legal discussions. It will be both instructional and entertaining. No reservation is necessary.

Short sale v. foreclosure?

Sun, 17 Apr 2011 22:28:54 GMT

I have often been asked for advice from distressed home owners about what they should do about their house which is upside down. My very lawyerly answer is "It depends." There are all sorts of variables which may affect the answer, such as "Can you afford the payments?" "Is the house your home which has great sentimental value, e.g. you raised your kids there?" "How far upside down are you?" "Do you have other assets to protect?" "Are you already in default on your loan?" "How do you feel about walking away?" There is a common misconception that a short sale is somehow less detrimental to your credit rating than a foreclosure. From what I've seen and read, your credit is going in the toilet regardless of whether you do a short sale or a foreclosure. Here is an article by Mike Clover which sums up the situation well: When Does a Short Sale Make Sense? Mike Clover cites another good article by John Ulzheimer: The Truth About Short Sales and Their Impact on Your Credit.

The conclusion of these authors is that from a credit standpoint, it probably doesn't matter.

I'm in the process of writing another article about this on my main website, which will hit this blog when it's posted.

Good Luck!!

Proposed Legislation to Help Consumers in Foreclosure

Fri, 15 Apr 2011 18:38:16 GMT

SB414 is progressing through the Nevada Legislature. It was passed out of the Senate Commerce and Labor Committee on April 14. SB414 would restrict financial institutions from seeking a deficiency on purchase money deeds of trust on residences if the bank agrees to a short sale and doesn't reserve the right to seek a deficiency. It also requires a bank to accept or reject a short sale request within 90 days. To review the language of SB414, click here.

AB273 among other things would prohibit a deficiency judgment being awarded to a bank which is a "sold-out" junior purchase money deed of trust. Under existing law a sold out junior lien holder can sue directly on the obligation and is not restricted by the deficiency protection in NRS 40.455.

Non compete agreement - employer v. employee after termination

Fri, 03 Dec 2010 06:21:16 GMT

Non compete agreement - fight after termination?

Corporations in a Nutshell

Fri, 03 Dec 2010 06:14:55 GMT

A Primer on Corporations

Dave Guinan coaching contact page

Mon, 15 Nov 2010 02:10:24 GMT

Dave Guinan coaching contact page

December 2009 Foreclosure Statistics

Thu, 14 Jan 2010 00:24:22 GMT

In December 2009 Washoe County ended the worst year in history for foreclosures.

The number of NOD's and Notices of Trustee Sales peaked in August and then dropped somewhat through November. They increased again in December.

In the chart below, the top line is Notices of Default, the middle line is Notices of Trustee Sales, and the bottom line is the actual Trustee Sales.

This chart is posted with the kind permission of Ben Nelson at Ticor Title of Nevada, Inc.

Joint tenancy - a way to avoid probate?

Mon, 28 Dec 2009 21:58:52 GMT

Joint tenancy - a way to avoid probate?

Observations at a Trustee's Sale

Fri, 04 Dec 2009 05:10:32 GMT

Yesterday I watched as numerous properties were supposed to have been put up for foreclosure sale on the courthouse steps in downtown Reno. The trustee's sale occurs toward the end of the foreclosure process. The foreclosing lender is required to publish and record a Notice of Trustee's Sale which tells the borrower, as well as the public, when and where the foreclosed property is going to be offered for sale. Often the sale takes place on the courthouse steps. Yesterday the series of sales started at 11:00 a.m. There were probably two dozen people who were there to observe and possibly bid. There must have been two to three dozen properties which had been noticed for sale. Of all those properties, only four were actually offered for sale. In each of those four cases the lender had set a minimum opening bid, and in each of those four cases the property went back to the lender for the minimum bid. No one in the audience made a single bid. Of the remaining properties that had been noticed for sale, some of the sales were canceled, and most of the sales were continued to a later date. I attended the sale because I was following the progress of a foreclosure which had originally been noticed for a sale in October. On the sale date in October it was continued until yesterday, and yesterday it was continued until January. There have be no negotiations between the borrower and the lender since September which a proposed short sale fell through. So the question arises, why doesn't the bank just complete the trustee's sale and be over with it? I have identified two possible reasons: 1. The bank doesn't want any more foreclosed properties on its books this year, and it's waiting until next year to take it back, or 2. AB140 which became effective on October 1, 2009, places a duty on the purchaser of a foreclosed property to maintain the exterior, including "limiting the growth of excessive foliage," i.e. cutting down the weeds and mowing the lawn. Perhaps the bank doesn't want to assume the duties imposed by AB 140. To read a copy of AB 140, click here. The high number of continued sales is another indication (or symptom) of the "shadow inventory" which I've discussed previously. There are a huge number of properties in foreclosure which haven't hit the market. Whether it's an attempt to stabilize prices or a reluctance to put more REOs on the books is anybody's guess.

Dave Guinan speaks at Nevada Masonic Grand Lodge

Fri, 20 Nov 2009 15:42:18 GMT

One of my passions in life is Freemasonry. I have been a Nevada Mason more than 30 years, and I have embraced this Fraternity which espouses the Fatherhood of God and the Brotherhood of Man. It is a perfect adjunct to my life as a lawyer, where I also am passionate about helping people with their legal problems.

I recently attended and spoke at the annual session of the Grand Lodge of Free and Accepted Masons of Nevada.

Life is good!

October Statistics for Washoe Co. Foreclosures

Thu, 19 Nov 2009 05:20:59 GMT

The October foreclosure numbers have come down off their highs - but they're still way up there.

The number of NODs dropped to 767 in which is about what they were in July. There were 469 Notices of Trustee Sale and 320 actual trustee sales in October.

As noted in a previous blog entry, a new factor will be the requirement for foreclosure mediation, which I describe at more length here. I understand that some medications have actually occurred, but I haven't heard any results.

This chart is posted with the kind permission of Ben Nelson at Ticor Title of Nevada, Inc.

What happens after foreclosure?

Sat, 07 Nov 2009 00:55:18 GMT

How long can you stay in possession after foreclosure?

Here's why I love Nevada

Fri, 06 Nov 2009 15:28:13 GMT

I'm a Nevada native, and I've lived in Reno most of my life. I love it here.

Last week I had the opportunity to go deer hunting with my son in northern Humboldt County, Nevada, near Denio and the Oregon border. It stormed much of the week, and we were often in the mountain clouds. On our last morning the storms cleared for awhile, and we were treated to some spectacular Nevada scenery.

The deserts of Nevada often yield great beauty.

Washoe County Foreclosure Statistics Sep 09

Tue, 03 Nov 2009 03:02:25 GMT

This month Ticor Title added Notices of Sale and Trustee Deed filings to their Notice of Default statistics. The addition of this information really rounds out the foreclosure picture and shows the relationship of these three foreclosure statistics. It's another look at the shadow inventory which I have previously discussed in this blog.

In September 2009 there were 930 Notices of Default, 659 Notices of Sale, and 260 trustee sales in Washoe County.

This chart is posted with the kind permission of Ben Nelson at Ticor Title of Nevada, Inc.

Nevada requires mediation for foreclosure of owner occupied property

Sat, 24 Oct 2009 04:53:14 GMT

New law in Nevada requires mediation for foreclosure of owner occupied property

Limited liability companies are becoming the business entity of choice.

Sun, 18 Oct 2009 19:22:27 GMT

Limited liability companies are becoming the business entity of choice. Here are FAQs about LLCs.

The Unreal Estate Monthly

Sat, 10 Oct 2009 18:08:54 GMT

The following is an excerpt from a monthly newsletter published by appraiser Mark Rasmussen and is reprinted here with his permission.

Median prices have declined 21.2 since 09/08.

The peak was 49 50 months ago. The historical peak to trough real estate value is 46 months. Then again, the recent past has exceeded anything in history by several orders of magnitude. We are there!

Foreclosures for Washoe County:

2006: 69

2007: 779

2008: 2,194

2009: 3,454 (annualized)

Foreclosures (300) for Washoe County were up 3 from 09/2008.

Notices of default (930) were up 58.4 from 09/2008. NODS have exceeded MLS sales for 25 consecutive months. Many of the large number of defaults will be added to Real Estate inventory with a 4 5 month lag time (Foreclosure process).

31.6 of notices of default from 05/08 (4 months) ended in foreclosure last month. We are having an extremely successful modification period..not or, there is a huge amount of shadow inventory building.

Unsold inventory in the Reno/Sparks MLS is 3.08 months (lowest in over 4 years) plus fewer new homes completed and under construction. This is a substantial improvement from the first of the year.

REOS and short sales represent 45.3 of listings, 68.2 of sales (09/2009) and 82.62 of pending sales. No one can sell for less than a lender.

Option Arms (loans where the borrower doesnt even pay the accrued interest, which is added to the principal balance) adjustments peak in 08/11. These are not to be confused with Sub-prime or Alt-A (liar loans/stated income). These are the loans where payments can double and triple in a month. Expect much higher default rates than sub-prime. Goldman Sachs expects 61 default rates ever the optimists, Barclays Capital expects 81 (me too), which is consistent with early resets this year. Most of these have growing principal balances with declining values. Refinancing is not an option.

Nevada is now at a record high rate of unemployment (13.2), is increasing and leads the nation in default rates (11.6).

The low interest rates, first time home buyer tax credit, more reasonable short sales and seasonality have all contributed to dramatically increased sales and pending sales activity. The number of sales and pending sales were the highest in several years. The inventory of unsold homes is near the low over the past several years. Median prices increased for the first time since 06/09. Alt-A and Option Arm (exploding arm) resets are increasing. This looks like the eye of the storm to me. The expected default rate on option arms is multiples of sub-prime. Remember, we were told that this was all contained and unemployment would peak at 8.2 by the experts that arent as accurate as a broken clock, that is correct twice a day. Understated unemployment is now 9.7 and rising. U.6 (the broadest measure of unemployment) published by the BLS is 16.8.

Important new laws regarding eviction and foreclosure procedure in Nevada become effective on October 1, 2009

Wed, 30 Sep 2009 23:33:35 GMT

AB140, which was passed by the 2009 Nevada Legislature and signed by the Governor, becomes law on October 1, 2009. AB140 is a product of the state of the economy and the huge number of foreclosures in recent years.

Here are some important changes contained in AB140 which you should know:

If a residential property is in foreclosure, the lender must serve a separate notice on any tenants in possession. The language of the notice is in the bill which you can read by clicking here.
A purchaser of vacant residential property at a foreclosure sale is now required to maintain the exterior of the property. There may be penalties of up to $1,000 per day for failure to maintain the property.
Existing law allowed a purchaser at foreclosure sale to evict on 3 days notice anyone who held over in possession of the property after the trustee's sale. Under AB140, a purchaser of residential property at a foreclosure sale is required to give a tenant (other than the person whose name was on the deed or mortgage) at least a 60 day notice of an intent to evict. However, if the tenant doesnt pay the rent, the owner can evict on shorter notice for non-payment of rent.
A landlord must disclose to a prospective tenant if the property to be leased or rented is the subject of foreclosure proceedings. Further, it is a deceptive trade practice if the landlord fails to make such a disclosure.

More Thoughts on the Shadow Inventory

Sun, 27 Sep 2009 17:08:59 GMT

The following is an excerpt from a recent white paper published by appraiser Mark Rasmussen and is reprinted here with his permission. The following statistics are national - not just Nevada.

There is a shadow market of 2.7 million homes that are technically in foreclosure but are yet to be reclaimed by the lender, says a Wall Street Journal study today. While its no secret banks are kicking the can down the road on finalizing foreclosures (and consequently accepting the mortgage loan as a loss) this is the first guess at the total number of such homes that weve heard:

As of July, mortgage companies hadn't begun the foreclosure process on 1.2 million loans that were at least 90 days past due, says the study. An additional 1.5 million seriously delinquent loans were somewhere in the foreclosure process, though the lender hadn't yet acquired the property. The figures don't include home-equity loans and other second mortgages.

Moreover, there were 217,000 loans in July where the borrower hadn't made a payment in at least a year but the lender hadn't begun the foreclosure process. In other words, 17 of home mortgages that are at least 12 months overdue aren't in foreclosure, up from 8 a year earlier.

The crash in U.S. home prices will probably resume because about 7 million properties that are likely to be seized by lenders have yet to hit the market, Amherst Securities Group LP analysts said. The favorable seasonals will disappear over the coming months, and the reality of a 7 million-unit housing overhang is likely to set in, they said. The amount of pending foreclosed-home supply has been boosted by more borrowers going into default, fewer being able to catch up once they do, and longer time periods to seize properties because of issues such as loan-modification efforts and changes to state laws, the New York-based analysts wrote.

The huge shadow inventory, reflecting mortgages already being foreclosed upon or now delinquent and likely to be, compares with 1.27 million in 2005, the analysts led by Laurie Goodman wrote today in a report. The Census Bureau said that there were 18.8 million vacant homes (4.8 million seasonal/ vacation) in the second quarter of 2009. How many of these are owned by the unemployed, underemployed/marginally attached/discouraged workers 16.8?

August Statistics for Washoe Co. Foreclosures

Mon, 14 Sep 2009 23:27:43 GMT

In August 2009 Washoe County hit another new all time high for foreclosures - 1067!

Curiously, the number of NODs dropped to 711 in July, which may have been due to a temporary moratorium on new foreclosures.

As noted in a previous blog entry, a new factor will be the requirement for foreclosure mediation, which I describe at more length here. As yet, the Nevada Supreme Court is still training mediators, and no mediation has actually occurred.

In August 2009 Washoe County hit another an all time high for foreclosures - 1067!

This chart is posted with the kind permission of Ben Nelson at Ticor Title of Nevada, Inc.

The Unreal Estate Monthly

Tue, 08 Sep 2009 00:26:05 GMT

The following is an excerpt from a monthly newsletter published by appraiser Mark Rasmussen and is reprinted here with his permission.

Median prices have declined 28.4 since 08/08.

The peak was 48 49 months ago. The historical peak to trough real estate value is 46 months. Then again, the recent past has exceeded anything in history by several orders of magnitude. We are there!

Foreclosures for Washoe	County:
2006	69
2007	779
2008	2,194
2009	3,437 annualized

Foreclosures (327) for Washoe County were up 8.6 from 08/2008.
Notices of default (1,068- a new record) were up 91.1 from 08/2008. NODS have exceeded MLS sales for 24 consecutive months. Many of the large number of defaults will be added to Real Estate inventory with a 4 5 month lag time (Foreclosure process).
35.1 of notices of default from 04/08 (4 months) ended in foreclosure last month. We are having an extremely successful modification period-not or, there is a huge amount of shadow inventory building.
Unsold inventory in the Reno/Sparks MLS is 3.41 months (lowest in years) plus fewer new homes completed and under construction. This is a substantial improvement from the first of the year.
REOS and short sales represent 44.4 of listings, 64 of sales (08/2009) and 85.2 of pending sales. No one can sell for less than a lender.
Option Arms (loans where the borrower doesnt even pay the accrued interest, which is added to the principal balance) adjustments peak in 08/11. These are not to be confused with Subprime or Alt-A (liar loans/stated income). These are the loans where payments can double and triple in a month. Expect much higher default rates than sub-prime. Goldman Sachs expects 61 default rates ever the optimists, Barclays Capital expects 81 (me too), which is consistent with early resets this year. Most of these have growing principal balances with declining values. Refinancing is not an option.
Nevada is now at a record high unemployment rate (12.7), is increasing and leads the nation in default rates (11.6).

The low interest rates, first time home buyer tax credit, more reasonable short sales and seasonality have all contributed to dramatically increased sales and pending sales activity. The number of sales and pending sales were the highest in several years. The inventory of unsold homes is near the low over the past several years. Median prices remained flat MTM. NODs recorded a breathtaking increase, to a record 1,068 21 working days. Alt-A and Option Arm (exploding arm) resets are beginning to increase. This looks like the eye of the storm to me. The expected default rate on option arms is multiples of subprime. LOL. Remember, we were told that this was all contained and unemployment would peak at 8.2 by the "experts" that arent as accurate as a broken clock, that is correct twice a day. Understated unemployment is now 9.7 and rising. U.6 (the broadest measure of unemployment) published by the BLS (Bureau of Labor Statistics) is 16.8.

Here's why the appraisal system is screwed up!

Wed, 19 Aug 2009 14:12:21 GMT

Last week I was fuming, and I complained about how an appraiser screwed up a legitimate deal. In recent months new appraisal rules have gone into effect which were intended to make appraisers more independent. Clearly there were abuses during the hot markets, and there were instances where some appraisers gave inflated appraisals to keep getting more business. However, the new rules go so far the other way that they throw the baby out with the bath! Here's an interesting article by David Streitfeld in the New York Times which discusses both sides of the issue.

Deed in lieu of foreclosure - an acceptable alternative?

Sat, 08 Aug 2009 18:29:55 GMT

Deed in lieu of foreclosure - an acceptable alternative?

The appraisal system is screwed up!

Wed, 29 Jul 2009 15:09:07 GMT

I'm writing to vent a frustration with a recent appraisal on a pending real estate sale for one of my clients. The classic definition of fair market value is that price which a willing seller would accept and a willing buyer would pay, with neither being under any pressure to act. In this case the buyer and seller, who were each represented independently by licensed real estate agents, agreed after negotiation to a sales price of $200,000 for a single family home in Sparks. The parties proceeded in good faith to close escrow. The first time home buyers were approved for a VA loan conditioned on a $200,000 appraisal. Inspections were done, and repairs were made. The parties waited on an appraisal for over two weeks. Three days before the scheduled close of escrow the appraiser arrived to inspect the property (30 minutes late for her appointment). She demanded that a sliding door be repaired because it didn't slide smoothly and that a board in a fence be replaced. One day before before scheduled close of escrow, the appraisal came in at $126,000, which had no bearing to comparable sales in the area. A day later the appraisal was amended to $190,000. The buyers didn't have the money to make up the difference, and the seller wouldn't accept the lower price. The deal was killed by the appraisal -- even though the parties had reached an arms length negotiated price of $200,000, which was certainly not inconsistent with comparable properties in the area. Thus the appraisal itself contributed to a further decline in prices. Arghhh!

Loan modifications are not the answer for all delinquent loans

Tue, 28 Jul 2009 16:15:15 GMT

I just read an interesting article by Renae Merle of the Washington Post which makes the point that in many cases lenders are resisting loan modifications because they aren't in the best interest of the lender. According to the article, there are 3 classifications of delinquent borrowers:

Borrowers who can actually be helped by a loan modification and who are likely to be able to make the modified payments
Borrowers who are likely to go into default again even after the loan modification, and
Borrowers who will be able to cure the default without a loan modification.

According to the article, banks realize that it's only in their interest to modify loans for the first group of borrowers who will actually be able to make the modified loan payments. It doesn't make sense to modify the loans for the second group because the loan modification is simply forestalling the inevitable. For this group a loan modification simply delays the foreclosure with resulting additional costs and lost market opportunities. It doesn't make sense for the lender to modify the loans for the third group of borrowers because those borrowers are going to be able to make it anyway, and there's no sense in giving up the advantages of the original loan terms. I submit that there may be a fourth group of defaulting borrowers: those borrowers who can make the original loan payments, but who are unwilling to do so because they are "upside down" in the property. They are unwilling to continue paying on a loan which is more than the property is worth. These borrowers have made a calculated decision to deal with a foreclosure on their credit record rather than continue paying on the loan. This group of borrowers isn't likely to seek a loan modification, and the bank probably wouldn't be willing to agree to a loan modification.

June statistics for Washoe County foreclosures

Fri, 17 Jul 2009 18:35:13 GMT

In June 2009 the number of notices of default still reached an all time high - 951 - but it was only one more than May.

A curious fact is emerging. The number of trustee sales four months down the road, i.e. when the notice of default could evolve into a sale, is much less than the corresponding number for notices of default.

One small reason is that some of the defaults will have been cured. Another larger reason is that a number of defaults are in the short sale negotiation process, which usually takes more than 4 months. That still leaves a large number of notices of default unaccounted for.

I have an appraiser friend who calls this the "shadow inventory" and attributes the phenomenon to a reluctance on the part of the lenders to show the REOs on their books.

A new factor will be the requirement for foreclosure mediation, which I describe at more length here.

In June 2009 there were 951 NOD filings - an all time high - but only 1 more than May.

This chart is posted with the kind permission of Ben Nelson at Ticor Title of Nevada, Inc.

New laws in Nevada affect small business

Sun, 12 Jul 2009 16:52:17 GMT

The Nevada Secretary of State's office has just published an excellent newsletter detailing important legislative changes pertaining to small business. Of note, after October 1, 2009, the Secretary of State will become responsible for collecting Nevada business license fees.

Washoe County Foreclosures Continue to Rise

Thu, 25 Jun 2009 18:27:41 GMT

The foreclosure rate continues to climb in Washoe County. In May 2009 there were 950 Notices of Default recorded! Ticor revised these statistics for the previous few months to reflect that the number of foreclosures was even higher than originally reported. The high number of foreclosures continues to have a huge negative impact on Washoe County real estate values. We won't see any stabilization in prices until the number of foreclosures winds down.

In May 2009 there were 950 NOD filings - an all time high!

This chart is posted with the kind permission of Ben Nelson at Ticor Title of Nevada, Inc.

Washoe County Foreclosures Remain at all time highs

Tue, 16 Jun 2009 02:58:52 GMT

The foreclosure rate remained at all time highs in April 2009 at 769. The only good news was that the NOD filings in April were one less than in March. The high number of foreclosures continues to have a huge impact on Washoe County real estate values. I predict that we won't see any stabilization in prices until the number of foreclosures winds down. 'Til then, it's like the elephant going through the belly of the snake.

In April 2009 there were 769 NOD filings - one down from March!

This chart is posted with the kind permission of Ben Nelson at Ticor Title of Nevada, Inc.

Land Trust -- an asset protection tool for holding title to real estate

Thu, 26 Feb 2009 16:12:44 GMT

Land Trust -- an asset protection tool for holding title to real estate

Incorporation - how to form a corporation

Fri, 20 Feb 2009 02:24:18 GMT

Incorporation - how to form a corporation

Workers Compensation - a law which benefits both employee and employer.

Fri, 20 Feb 2009 02:02:54 GMT

Workers Compensation - a law which benefits both employee and employer

A Primer on Living Trusts

Tue, 17 Feb 2009 04:41:50 GMT

A discussion of living trusts - what they are, how they work, and who needs them

Special needs trust - supplemental financial help to disabled persons on SSI

Tue, 17 Feb 2009 02:11:58 GMT

Special needs trust - supplemental financial help to disabled persons on SSI

Nevada Masons lay the cornerstone for the Floyd Elementary School in Pahrump

Mon, 16 Feb 2009 01:53:58 GMT

On Monday February 9, I had the pleasure of participating in a cornerstone laying ceremony for the Floyd Elementary School in Pahrump, Nevada. This ancient Masonic ceremony uses the symbolic elements of corn, wine and oil to dedicate the cornerstone of new public buildings. Traditionally, a time capsule containing interesting memorabilia is placed inside the cornerstone for future ages to discover. The cornerstone is most commonly placed in the northeast corner of the building.

The $15k tax credit didn't make it. Instead, there will be an $8k tax credit for 1st time homebuyers. This one doesn't have to be paid back.

Mon, 16 Feb 2009 01:36:52 GMT

Here's a report from USA Today which describes the elements of the $787 billion stimulus package which will be signed by President Obama in Denver on Tuesday.

The Foreclosures in Washoe Co. Continue to Rise

Thu, 12 Feb 2009 06:23:23 GMT

There were 675 Notice of Default recordings in January 2009!

75th Session of the Nevada Legislature starts on Monday, Feb. 2, 2009

Sun, 01 Feb 2009 19:40:24 GMT

"No man's live, liberty or property are safe while the Legislature is in session." Although this quote has been attributed to Mark Twain, in fact it comes from a court decision by Judge Gideon J. Tucker in 1866. No matter who first said it, there is some truth in the sentiment.

Entrepreneurs and small business people should pay close attention to what happens in the Legislature and to what legislation is proposed and pending. Changes in legislation can have significant impact on small businesses.

We who are involved in small business need to monitor proposed legislation and be prepared to attend legislative hearings to testify about pending legislation.

The Nevada Legislature has an excellent website which provides information about all pending legislation including Bill Draft Requests (BDRs), the text and committee hearing dates for introduced legislation, and bill status. See www.leg.state.nv.us/bills/bills.cfm

The budget will be a huge topic this year because of the anticipated $2.3 billion shortfall. The housing crisis will also receive much attention. There are already a large number of BDRs relating to foreclosure and mortgage lending.

Corporate taxes - C corporation or S corporation?

Thu, 29 Jan 2009 23:20:42 GMT

Corporate taxes - C corporation or S corporation?

Corporate Veil - to pierce or not to pierce

Thu, 29 Jan 2009 22:44:54 GMT

Corporate Veil - to pierce or not to pierce

Easements - how to get from Point A to Point B over someone else's land.

Tue, 27 Jan 2009 01:18:14 GMT

Easements - rights to use another's land for a specific purpose such as a road.

5 Biggest Myths in Real Estate

Mon, 26 Jan 2009 19:34:22 GMT

Here's an interesting piece from the NBC Today Show. It's clearly from the real estate industry perspective, but it's timely and basically good advice.

Options - whether you're buying or selling, they're a great tool!

Mon, 26 Jan 2009 07:22:44 GMT

Options - whether you're buying or selling, they're a great tool!