Las Vegas Review-Journal - Real Estate

"We are still selling homes," she said. "There are a lot of buyers out there. This is a great time to buy real estate, there are a lot of homes available, prices are low and as soon as the lending opens back up and people can get a loan again, you will see the same kind of boom as Las Vegas experienced before.

"I don't have a crystal ball, but I think that with more foreclosures being moved out of the market and prices stabilizing, within the next year the market should come back."

Still, recovery will take time and depend on the right conditions, she said.

"It will depend on our new (U.S.) president, consumer confidence coming back for the economy and the stabilization efforts by the government."

GLVAR's numbers show that more houses are selling for less in Southern Nevada.

The group reported 2,718 single-family home sales in October, a 179.1 percent increase over the same time last year. That's down 2.3 percent from 2,783 in September. Still, overall, single-family home inventory has steadily decreased this year to 22,929 after peaking at 24,341 in September 2007, according to GLVAR reports.

The median price of a resale single-family home sold in the valley decreased by 2.6 percent from $195,000 in September to $190,000 in October. That's a 30 percent decline from the same time last year, according to the group's local housing statistics.

According to GLVAR, most homes being sold are bank-owned properties. Two out of every three homes for sale in Southern Nevada are owned by lenders.

Naumann said her professional organization has fared well in these tough times.

"At our peak, we had over 1,700 members (in GLVAR) and now we are holding steady at 1,450 members," she said.

Naumann's theme for her presidency -- Realtors: The Key to Homeownership -- will seek to help agents in a changing marketplace.

"There are a lot of key points that are important in what is takes to be successful," she said. "There are different keys and in this market, Realtors have to rekey some of their thoughts just like a home has to be rekeyed.

"Realtors today must think outside of the box and try to do things differently and out of the ordinary. They must do something to make them stand apart from other agents. What worked in the past won't work today.

"Excellent customer service is a must. They need to make all of their clients feel like the only client. In today's economy, every transaction is important and attention to detail is one key."

2008 GLVAR President Kelley said Naumann is well prepared for her new position.

"I know Sue will do a great job as the new president of the association. She understands the responsibility, takes this position very seriously and has set aside time to give GLVAR her fullest attention. In fact, she knows that this is now a full-time job."

Naumann said she became active in The Greater Las Vegas Association of Realtors because: "I believe membership is enhanced through participation. I like doing business with someone I have already met and feel will be easy to work with, which is why I got involved."

Naumann is also very active in the Women's Council of Realtors and was president of that organization in 2003.

"From there, it was the next step to volunteering in GLVAR. It has been a six-year culmination to become president. I first volunteered for committees and then became director of the MLS (Multiple Listing Service) Committee. I served as treasurer, vice president, president-elect and now I am the incoming president."

Naumann has been working in the real estate industry since 1975 when she moved to Reno from California to attend the University of Nevada, Reno.

Her first job was as a messenger in a title company where she worked her way to chief title officer.

She then worked as a paralegal for a bankruptcy attorney, handling all of the real estate matters relating to bankruptcy. Naumann received her real estate license in 1979 and moved to Las Vegas in 1990 to pursue her real estate career.

"I saw the opportunities for real estate in Las Vegas so I reinstated my license and I have been in (local) residential real estate since 1991," Naumann said. Currently, she is the owner/broker of Tsunami Properties Inc.

The GLVAR, originally known as the Las Vegas Board of Realtors, was created Dec. 2, 1947, with 11 members, according Chief Operating Officer Irene Vogel, who joined the organization 35 years ago.

"In 1990, due to the expansion of Clark County with the growing cities of Mesquite and Henderson, the name was changed to The Greater Las Vegas Association of Realtors to include those areas," Vogel said.

The organization offers training, networking, technological resources, political representation, mapping and professional development programs. Members are also very active with local charities.