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New real estate branch opens, points to recovering economy

It must point to a recovering economy when a new real estate company opens here. Michael Selbach, former CEO and marketing director for the Pahrump Valley Chamber of Commerce, has been selling real estate for 10 years. He has finally decided to get his broker’s license and open his own company here.

Real estate law requires a Realtor to have a license to sell real estate hanging on the wall of a brokerage firm unless that Realtor has obtained a broker’s license of their own.

Selbach said he is testing for his brokerage license in two months, which will enable him to have a a company of his own. Right now, his realtor’s license is hanging on the wall of Urban Nest Realty in Las Vegas. He has opened a branch of that company at 3340 S. Highway 160, Suite 200, in the First International Bank building.

Selbach said, “I’m looking forward to having my own real estate firm. I’ve worked for other agencies for 10 years and I want my own business here.”

Selbach said he and his wife, Cassandra, own several homes here and several businesses as well. “We have two boys and both Cassandra and I were raised in this area. We want our kids to be raised here, too.”

His office is currently very small but he said things will begin to expand when he is a broker. “We’ll move into a larger space where I can offer office space to other Realtors.”

Different Realtors can specialize in different types of real estate. Some prefer to work with residential only and some prefer to work with developers or commercial properties.

Right now, Selbach said he handles everything from large tracts of land to single-family residential homes and commercial buildings.

“I also work with families with homes in foreclosure and those with homes in probate, meaning there is the home of someone who is deceased that is part of the estate that has to be liquidated.” He also handles the sale of water rights.

He said there are zero-down programs for first-time home buyers and help for those whose homes are in foreclosure or are a short sale. “The terms are no more stringent than for any other loan to qualify for those programs.”

Selbach said he has 10 listings to his credit right now and, “It points to economic recovery for us. Several builders are building spec homes in Artesia and Mountain Falls is building again. The home prices for stick-built homes are ranging from $150,000 to $250,000 and the cost of building a custom home is back up to $100 per square foot.

Selbach said he has been in the business long enough to have built a network of relationships with lenders and title companies who will help him and his clients get the job done.

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