November 2020 | Jeff Howard's Las Vegas Area Real Estate blog

$8,500 stolen from my friend – because he did not have 2FA (Two-Factor Authentication)

A good amount of our lives happens on mobile devices and computers, so it’s no surprise that our digital accounts have become targets for criminals. These evil attacks against governments, companies, and you are more and more common than ever, with no sign that the hacks, data breaches, and other forms of cybercrime are slowing down! There are times that it is simple human error that has left them exposed. Like I said, this just happened to a good friend of mine.

A recent study revealed that in 2016 over $16 billion was taken from 15.4 million U.S. consumers. Even more incredible, identify thieves stole over $107 billion in the past six years alone. Scary isn’t it?

Luckily, it’s easy to add an extra level of protection to your most important accounts in the form of two-factor authentication, also commonly referred to as 2FA, which is used to make sure that people trying to gain access to an online account are who they say they are. First, a user will enter their username and a password. Then, instead of immediately gaining access, they will be required to provide another piece of information. This second factor could come from one of the following categories:

Something you know:This could be a personal identification number (PIN), a password, answers to “secret questions” or a specific keystroke pattern.

Something you have:Typically, a user would have something in their possession, like a credit card, a smartphone, or a small hardware token.

Something you are:This category is a little more advanced, and might include biometric pattern of a fingerprint, an iris scan, or a voice print.

Something only you (ideally) have access to: They can send a code via email, voice call or text message that you have to enter before it expires.

With 2FA, a potential compromise of just one of these factors won’t unlock the account. So, even if your password is stolen or your phone is lost, the chances of a someone else having your second-factor information is highly unlikely.

According to a recent report, stolen, reused, and weak passwords remain a leading cause of security breaches. Unfortunately, passwords are still the main (or only) way many companies protect their users. The good news is that cybercrime is in the news so much that 2FA awareness is quickly growing and users are demanding that the companies they do business with have improved security. Most likely, your bank and other truly sensitive web sites you visit have this ability, and if they don’t, you may want to move your accounts to one that does.

BE CAREFUL many criminals will trick you into giving them the 2FA information. Example: You receive a text message from someone claiming to be your bank and they tell you that for your security, you must text them the code you just received, but the code they want you to send them is the 2FA that allows them to take money from you. Never send your 2FA to anyone! If your bank contacts you, end that conversation, and call them at a trusted phone number.

If my friend had 2FA, when the criminals tried to make the transfer, it would have required another level of protection that they would not likely have had access to, and the theft would not have happened.

One last note: many people can’t tolerate the “hassle” of continually identifying themselves, so they opt out of 2FA, when they can… so I ask you, is it worth the extra time it takes to keep your accounts secure?

Do you have a need for commercial / industrial / retail buildings or land? Are you ready to buy or sell a home? We can help you with that, safely… just call us at 702 SELL NOW or click on this link to my website http://www.702SellNow.com

Choose to have an amazing day…. Jeff

The Importance of Earnest Money

Why Do I Need Earnest Money?

When you are purchasing a home the amount of money for a loan application, a home inspection, actually anything and everything you have to pay for can feel very overwhelming. The days of low to no down payments are largely past and markets everywhere seem to be running thin on inventory, earnest money may well be the most important negotiating tool you’ve never heard of.

What Is Earnest Money?

When you make an offer on a home, part of that offer can include a little show of good faith on your part, in the form of cold, hard cash (well not actual dollar bills… you can write a check or send a wire). Generally, one to three percent of the offer price is pretty normal for an earnest money deposit. However this can vary widely based on market conditions. The more you put up, the more serious you appear to the seller. But what happens to that money?

Earnest money is literally just a show of faith. When you go to the closing, it is credited towards the cash you need to close, which is made up of line items like your down payment, your closing costs, and your prepaid items. It will simply be applied in full as a credit in your closing documents, reducing the amount of money you need to bring with you on the big day.

Here’s the one thing to be cautious of; if you were to default on the contract, the seller may be entitled to some or all of that earnest money. However, plenty of situations exist where you can cancel, and your earnest money will be refundable, such as:

An unacceptable home inspection. This all has to be stipulated in your contract; there are no givens in a real estate transaction, but there are things that are reasonably standard. Having an unacceptable home inspection, if the seller is not willing to make reasonable repairs, can be a cause for terminating the contract and getting your earnest money back.

Your financing falls through. Again, you’ll need a financing clause or addendum to ensure you’re covered in this event, however, because financing is so important to real estate transactions in general, they are pretty standard. If your financing falls through due to no fault of your own (you’ve been laid off, your bank closes, a co-borrower dies), you should generally be able to reclaim your earnest money. The specifics will be in your real estate sales contract, so pay close attention (and hire an agent who will pay closer attention).

The seller can’t close. There are a few rare situations where a seller can’t close the transaction. These are incredibly uncommon, but they do happen once in a while. For example, you might find out that the seller only believed they were the owners of the home. This can occur when a parent dies without a will, forcing the property into probate court even when it’s clear an only child will be the sole heir.

And in the case that the seller can close, but chooses not to for whatever reason, you would be entitled to get your money back or, in many cases, you can force the seller to honor the contract.

What Is an Earnest Money Note?

In some markets, you may have an additional option for earnest money, known as an earnest money promissory note. This is essentially an IOU that accompanies the offer. On the note, you’ll specify exactly when you’ll either turn the paper into actual cash or forfeit the offer entirely. Though these were once very common, they’re far less so today. If you choose to use an earnest money promissory note, be sure to describe in great detail why you’re not able to provide earnest money on the spot and how you will remedy this.

For example, if you have some stocks you were going to cash out for your down payment, but didn’t want to touch until you were really ready, you may need time to sell enough to cover the earnest money. In that case, specify this as the reason and say that you’ll initiate a sale on a certain day, then convert the note on that day. Make sure to leave yourself a little leeway, because if you fail to perform, you can suffer serious consequences.

Generally speaking, earnest money promissory notes can be considered a sign of a weak offer, so you should inquire before taking that leap.

Choose to have an amazing day…. Jeff

ERMA BOMBECK: AT WIT’S END with safe practice performances December 2020

After its successful online run, The Las Vegas Little Theatre is overjoyed to be able to welcome patrons back to the theatre for a Live in person performance of a hilarious one woman show ERMA BOMBECK: AT WIT’S END. Of course, due to safety and health regulations, things will be a bit different than all of us are used to. They plan to follow strict safety guidelines including reduced capacity, 6-foot distance with seating and mandatory masks.

They must maintain a 25-foot distance between the audience and the stage so the first row for seating with be the 6th row. There is NO SEATING in the first five rows which means patrons MUST be able to climb stairs in order to attend the performance. Seats will also be socially distanced so there will be a limited number of seats per row.

Wisecracking and charming, iconic humorist Erma Bombeck takes us through her journey from homemaker, to popular syndicated columnist, to feminist crusader and more. ERMA BOMBECK: AT WIT’S ENDis directed by Vegas Valley Award Winner Walter Niejadlik and stars local actress Gillen Brey, this one-woman show is a hilarious, poignant look at Bombeck’s ambition to define herself beyond the roles of wife and mother—while still embracing how these “ordinary” things can bring extraordinary joy.

The play was written by sister-playwriting duo Allison Engel and Margaret Engel. This clever show pulls largely from Bombeck’s famed columns and best-selling books, chronicling her life as a suburban housewife and how she used her wit and wisdom to charm her way into the hearts of readers across the country.

Tickets are $20 and can be purchased at www.lvlt.org.

ERMA BOMBECK: AT WIT’S END will perform

Saturdays, 12/5 & 12 @8pm and

Sundays, 12/6 & 13 @ 2pm

For tickets and information, visit their website at www.LVLT.org or contact the Box Office at (702) 362-7996 during regular box office hours (Mondays 4pm – 8pm, Wednesdays and Fridays 10am – 1pm, and Saturdays 9am – 12pm).

Disclaimer – This is the information we have today – things change rapidly these days.

Choose to have an amazing day…. Jeff

Hot Flooring Trends for Homeowners

Installing new flooring in your home can make one of the biggest impacts on your home’s appearance. It reflects your style and personality, as well as your lifestyle. The right floor can make it easier to keep your home cleaner, and set the mood for a cozy living space. There are certain trends that have been a lot more popular than others. Here’s a brief list of options that should make your flooring search a little easier.

Hard Flooring Options

Hard floors are any kind of flooring with a solid, and generally non-porous, surface. Hard flooring offers many benefits. The materials are more resilient to regular use, so wear life is longer. And cleaning is easier because there’s no fibers to capture things like pet hair, loose skin cells, dirt, and microbes. Some of the most popular hard flooring options include:

Vinyl Plank is designed much like laminate flooring, with a tongue and groove locking system that creates a watertight seal when properly installed. The difference between vinyl plank and laminate flooring, however, is that vinyl plank is made from solid vinyl, rather than being several layers of different materials sandwiched together. It’s a great choice for wet areas like kitchens and bathrooms, and for households with pets and children. As a bonus, vinyl plank is available in a huge range of patterns, from synthetic marble to high variation wood-like floor patterns.

Wood-Look Porcelain Tile. If you want something that will last longer than vinyl plank, but still look like wood, wood-look porcelain tiles are a great option. They look like wood planks, but are made from extremely durable porcelain. It’s an option that’s very permanent and will last for many, many years to come. They can also be purchased in the high variation wood patterns, though the effect is less obvious than with vinyl plank since there is grout between the tiles.

Terrazzo. This might be the coolest flooring you’ve never heard of. Although its popular, many people don’t know the term for it. Terrazzo is that tile flooring that’s made from concrete with lots of inclusions like glass, shells, or other interesting bits mixed in. It looks great in mid-century modern homes, or those decorated in the style. And since concrete is extremely durable, it will last and last.

Reclaimed Wood is sometimes referred to as “architectural salvage.” When a building is being torn down, firms can sometimes acquire the materials, especially if the building is historic. It can be labor intensive to install reclaimed wood floors, but you’ll end up with a totally unique look and keep building materials out of the landfill, so it’s kind of a double win.

What About Carpet? Sometimes they’re in, sometimes they’re out. Usually there are some people who are still really into carpeting even when their popularity is waning. Right now the trend in carpets is to opt for carpeting in limited spots, like using carpet runners for stairs.

Carpet tiles are seeing some popularity, especially since they come in a ton of fun colors and tend to have a very low nap, making them easy to keep clean. If you want more carpet, look for large area rugs or keep your carpet in low-use rooms like bedrooms. “Maximalism” is making a big comeback, encouraging big patterns and colors with big personalities. Clashing is the new matching.

Once you know what kind of flooring you’d prefer, you may need to find someone to install it. Some flooring shops have an in-house flooring installer, but you can’t always rely on these experts to be as expert as you’d like. seem. Not every flooring installer installs every kind of flooring, so be sure to ask them about their areas of expertise before you make your final decision.

There are many companies that install flooring. Feel free to call me – Jeff “Vegas” Howard, your Realtor for life as I have a list of professional and reputable firms for you to consider.

Choose to have an amazing day…. Jeff