In a significant effort to address Nevada's ongoing housing crisis, State Senator Dina Neal is introducing new legislation aimed at limiting corporate purchases of single-family homes. The bill, set for consideration in the upcoming legislative session, could mark a turning point for thousands of potential homebuyers who have found themselves increasingly priced out of the market by deep-pocketed corporate investors.
At the heart of the legislation are three key provisions:
Corporate investors must register with the Secretary of State
Investors must file their deeds specifically as investors
A strict annual limit of 100 single-family home purchases per corporate investor in Nevada.
The timing of this legislation is crucial, as corporate investors currently control approximately 15% of Nevada's housing market. This corporate presence has contributed to rising housing costs that have put homeownership out of reach for many Nevada residents. Throughout Las Vegas and surrounding areas, countless families are stuck in rental properties, watching as their dream of homeownership slips further away due to corporate buyers driving up prices and reducing available inventory.
"This legislation could be a game-changer for our local families," says Kelly Bishop, broker-owner of Rustic Elegance Nevada Living. "Every day, we see qualified buyers struggling to compete with corporate cash offers. With these new limits in place, we anticipate more opportunities for individual buyers to secure their dream homes. Our team is ready to help guide buyers through this changing market landscape and connect them with properties that may have previously been snapped up by corporate investors."
Senator Neal's proposal comes with legal backing, as she notes the legislature's special "police powers" during crisis situations. According to Neal, Nevada has been experiencing a housing crisis for "over four or five years," providing the legal framework for such regulatory action.
This isn't the first attempt to address the issue. A similar bill was previously vetoed by the governor, but Neal remains determined to push forward with this new version. At the federal level, Nevada Senator Jacky Rosen has also introduced the HOME Act, which targets corporate investors accused of price gouging and artificially inflating housing costs.
The legislation represents a direct response to situations like those in North Las Vegas, where entire streets of single-family homes are owned by corporate investors who build houses specifically for rental purposes. This practice, according to Neal, prevents Nevada citizens from building wealth through homeownership and keeps them locked in a cycle of renting.
For the thousands of potential homebuyers currently waiting on the sidelines – including first-time buyers, growing families looking to upgrade, and local professionals seeking to put down roots in their communities – this legislation could provide much-needed relief. By reducing corporate competition in the housing market, the bill aims to create more opportunities for individual buyers to successfully bid on homes without being outbid by corporate cash offers.
If passed, this legislation could help level the playing field for individual homebuyers by reducing corporate competition in the housing market, potentially leading to more reasonable home prices and increased opportunities for local families to achieve the dream of homeownership in Nevada's communities.
In the heart of Montana, where communities are measured not just in numbers but in the strength of their connections, a new real estate agent is making her mark with a blend of small-town values and modern expertise.
Growing up in small-town Montana, where grocery store clerks knew every member of her family by name, and later marrying into a community of just 125 people, she developed a deep appreciation for the personal touches that make Montana special. "Montana is about the people for me," she reflects, adding with a smile, "though the views are pretty great too."
After supporting her husband's business ventures since 2019, she found herself drawn back to her true passion: working with people. Watching friends in real estate build meaningful relationships with their clients rekindled her desire to create those same connections. This year marks her debut in the industry, and her enthusiasm is contagious.
"I'm a 'do whatever it takes' type of person," she declares, describing her approach to client service. Whether it's conducting virtual tours for out-of-state buyers or diving deep into research to answer detailed property questions, she's committed to going the extra mile. Her tech-savvy approach, combining social media savvy with traditional relationship-building, positions her uniquely in today's market.
Finding her home with Rustic Elegance Montana Living was a natural fit. "Meeting Kelly and seeing how this practice runs, I immediately was drawn to it," she explains. "I knew that this practice would help me thrive as an agent not only for my success, but most importantly, for my clients."
When she's not searching for the perfect property for her clients, you might find her at The Jump in Gallatin Gateway, where she regularly attends country swing lessons with Country Renegades, or enjoying a burger at The Murray in downtown Livingston. These local haunts speak to her love of community and connection.
Looking ahead, her goals are clear: "I want people to think of me when they think of real estate." But more than that, she wants to set an example for her children of what dedication and hard work look like. With her combination of small-town values, technological expertise, and unwavering commitment to client service, she's well on her way to making that vision a reality.
For Montana home buyers and sellers seeking an agent who understands both the heart of Montana living and the demands of modern real estate, this newest addition to the Rustic Elegance team brings a fresh perspective backed by deep-rooted local knowledge.
REALTOR | Rustic Elegance Montana Living
Cell phone: (406)580-9820
Email: jennadmtrealty@gmail.com
Updated: Jan 29
As a dedicated Distressed Property Advocate and leader of The Henson Realty Group at Rustic Elegance Nevada Living, I've witnessed firsthand how financial uncertainties can impact homeowners. My name is Bonnie Henson, and since 2015, our team has been dedicated to helping property owners navigate through challenging times.
What Will This Series Of Articles Do
Through this ongoing series, I'll share essential information, expert insights, and practical resources to help you:
- Understand your options when dealing with mortgage challenges
- Navigate the complex world of foreclosure prevention
- Make informed decisions about bankruptcy and its implications
- Explore alternatives like short sales when appropriate
Each article will feature detailed guidance, supported by informative videos, easy-to-understand charts, and comprehensive guides. My goal is to provide you with clear, actionable information that empowers you to make the best decisions for your unique situation.
Remember, seeking information is a crucial first step, and you've already taken it by being here. Whether you're facing these challenges personally or supporting someone who is, I'm here to help guide you through this journey with expertise, understanding, and respect.
Stay tuned for regular updates, and don't hesitate to reach out if you need personalized guidance. Together, we can explore your options and find the path that best suits your needs.
Why We Do What We Do
The urgency of our mission has never been more apparent. Nevada currently has one of the highest foreclosure rates nation wide, with one foreclosure for every 922 housing units as of October 2024. Of our state's 1,288,357 housing units, 4,582 properties have entered foreclosure, with Lyon, Clark, Washoe, and Elko counties experiencing the highest rates (ATTOM.com) In Las Vegas alone, over 90 properties faced auction just last month. These aren't just numbers – they represent our neighbors, friends, and community members who need support and guidance.
Reaching Out
If you or someone you care about is struggling with mortgage payments, facing foreclosure, or considering bankruptcy, I encourage you to reach out. Sometimes the hardest step is asking for help, whether for yourself or for a loved one. We understand that these situations often affect entire families and communities, and we're here to help navigate these challenges together.
We're driven by an ambitious mission: to help 10,000 distressed property owners across the nation find solutions to their unique situations. I'm proud to share that we've already assisted 2,765 homeowners in regaining their financial footing and finding paths forward that work for them. Each success story represents a family or individual who found hope and solutions during difficult times.
Whether you're facing missed mortgage payments, contemplating bankruptcy, or concerned about a looming foreclosure auction, you're not alone. Many homeowners find themselves in similar situations, often through circumstances beyond their control. The good news is that you have options, and knowledge is your most powerful tool.
Bonnie Henson
Distressed Homeowner Advocate
The Henson Realty Group@Rustic Elegance Nevada living,
Realtor s.0185984
S.0185984
Direct: 702-522-7171
170 S. Green Valley Parkway
Suite 300
Henderson, NV 89012
