Las Vegas Business Press :: News : Slump plus some cash might create opportunities

Slump plus some cash might create opportunities

BY SARA CURETON

One of the biggest problems facing Las Vegans is a lack of affordable housing. Michael Campbell, a real estate consultant, is striving to bridge the gap between local, first-time homebuyers and the American dream.

After helping the first-time buyer find the best home and loan to suit their needs, Campbell gives the client $1,500 back. These funds can be applied to closing costs and/or mortgage payments.

"I would rather help someone than make a million dollars," he said. This commission sharing doesn't stop with first-time buyers. In a second program, aimed at bettering the community, Campbell donates $500 from his closing commission to the charity of his clients' choice. He has built a reputable list of charities, such as the Henderson Community Foundation and Candlelighters for Childhood Cancer of Southern Nevada, from which donors can choose. "The client is honored and maybe they will do more of it down the road," Campbell said.

JIM MILLER | BUSINESS PRESS
Michael Campbell's mission includes matching first-time buyers with foreclosed homes in areas like Henderson's redevelopment district.

In an effort to attract nurses, skilled laborers and teachers, Campbell distributes information on his programs to small- to mid-sized companies that could benefit from an influx of people relocating to the valley. "People aren't coming in off the street," Campbell explained. "You've really got to shake the trees."

Foreclosures are creating the opportunity to make a cost-effective deal for a first-time homebuyer. With homes priced below their former value, people in a number of income ranges can realize home ownership.

Campbell, who holds a business finance degree, worked previously in the mortgage industry. Though he still holds a mortgage license, he has been working in real estate for the past year. "The mortgage business was all numbers and I like being a part of the whole process," he said. "I've found my niche."

With his program still in its early stages, Campbell is anxious to see it grow. "It's been a slow process but it's happening," he said. With the advantage of eight local Keller Williams Realty offices, he works with his fellow agents to cover a greater area of town and get more people into a home.

Besides, he argues, his initiative is good for the whole community. "If you own your house," he said, "you are more likely to stay, plant some trees and make Las Vegas your home."

scureton@lvbusinesspress.com | 871-6780 x394

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