Reno Sparks Real Estate

Home Affordability Down 21 Percent

2014-02-21T13:09:00.001-08:00

RealtyTrac reports that national home affordability has dropped 21%...in one year!

Twenty-one percent is the amount that they say the monthly payment for a median priced three bedroom home purchased in the 4th Quarter of 2013 has increased, year over year. They report the c ost of owning a home is "becoming dangerously disconnected with still-stagnant median incomes," as investors drive prices up to levels that owner occupants that need to finance can't afford.

http://realestate775.com/market-stats/158-home-affordability-down-21-percent

New federal rule on appraisals could be useful to Buyers

2014-02-14T11:59:00.001-08:00

According to the Washington Post : "A new federal rule could give millions of home buyers insights they've never had before about a crucial element of their mortgage application: the appraisal, including the electronic cross-checks and reviews now used by lenders to determine the amount of the loan they'll approve.

This contrasts with the current system, where lenders don't have to provide you a copy of the appraisal unless you request it. The additional valuation data — which may include follow-up review appraisals by a second appraiser, multiple "automated" valuations and "broker price opinions" provided at low cost by realty agents — currently are not subject to disclosure." (source Washington Post).

More information at:
http://realestate775.com/market-stats/155-new-federal-rule-on-appraisals-could-be-useful-to-buyers

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Bank Owned listings up 13% in Reno and Sparks

2014-02-14T09:40:00.000-08:00

Since January 1st 2014 there have been 77 new Bank Owned properties listed for sale in the Northern Nevada Regional MLS. That number is up 13% from 68 January 1 to Feb 14, 2013. Here in the Reno/Sparks market Bank Owned listings are a relatively small portion of the market. As of this morning we have 138 Bank Owned listings on the market (both Active, Active/Pending and Pending)...this is approx. 6% of the total market (total listings 2,309).

Nationally, it seems we are seeing a similar trend. RealtyTrac released its U.S. Foreclosure Market Report for January, 2014. The report noted an 8 percent increase of reported properties from the previous month, citing 124,419 properties in foreclosure filings (default notices, scheduled auctions, and bank repossessions). Year-to-year, January, 2014 represented an 18 percent drop from January, 2013. (Source DSNews.com).

More information at:
http://realestate775.com/market-stats/154-bank-owned-listings-up-13-in-reno-and-sparks

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Market Snapshot. January 2014

2014-02-14T09:22:00.001-08:00

Real Estate Market Snapshot

Our Reno/Sparks Association of Realtors has just released December's market report. As usual, I like to share with some of the highlights from these reports with all of you. There is so much misleading and inaccurate real estate information in the media these days. My goal with these Market Snapshots is to provide you with a few relevant statistics, so you can stay informed and formulate educated opinions about where the market is going and where we have been. If you are considering a home or investment property purchase....or keeping track of the value of your existing home or property...accurate, recent and local statistics are vital to making good real estate decisions. I hope you find this information useful and informative.

More information at:
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Fannie Mae offering up to 3.5% Closing Cost Assistance

2014-02-14T09:20:00.001-08:00

Fannie Mae has just announced they are offering 3.5% closing cost assistance on First Look Homepath properties again.

They write "Fannie Mae is offering up to a 3.5% closing cost assistance for owner-occupant buyers and public entities who request the incentive at their initial offer during the First Look™ period, purchase a HomePath property in select states on or before March 31 and close by May 31, 2014."

Homepath properties are homes that have gone through foreclosure and are currently owned by Fannie Mae. The FirstLook period is primarily open only to owner occupants. Homepath financing can also be advantageous in that an appraisal is usually not required.

For more information on Fannie Mae Homepath properties, give me a call/text at 775-453-4737 or Email.

Robert Range is a REALTOR® serving Reno and Sparks, Nevada. He is certified in Short Sales and Foreclosure properties by NAR. You can contact Robert directly at Email Me or 775-453-4737. Find Robert online at RobertRange.com and RealEstate775.com. Connect with Robert on Facebook, LinkedIn Twitter and Google +. More information at: http://realestate775.com/market-stats/152-fannie-mae-offering-up-to-3-5-closing-cost-assistance --------------------------------------------------------------------------- Visit this link to stop these emails: http://zpr.io/giWR

My Lease 2 Own Reduces Rent Payment

2014-02-14T09:06:00.001-08:00

My Lease 2 Own has just announced they are reducing the Rent plus Rent Equity payment to 1% of the purchase price.

They write "

1st Month's Rent is on us! If the client puts down their Initial Deposit within 7 days of receiving their Acceptance Letter we'll make their 1st month's rent payment for them.

Rent + Rent Equity now equals 1% of Purchase Price. We've taken all of the guessing out and made it so easy to determine what the monthly payment will be. Ex: Purchase price of $150k = $1,500 total monthly ($1,200 Rent + $300 Rent Equity)

Remember - 100% of the Rent Equity portion is applied when the client closes on their purchase – they don't lose a dime of it!

Click here for more information on the My Lease 2 Own Program.

More information at:
http://realestate775.com/market-stats/153-my-lease-2-own-reduces-rent-payment

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February 2013 Median Price Increases

2013-03-21T12:12:00.001-07:00

Median Sales Price: Our market is seeing significant gains in median sales price. Median sales price is defined as "the mid-point where the price of one-half of the sales are higher and one-half of the sales are lower". Median Sales Price for February 2013 went up 5.6% from January 2013....up 30.7% from February 2012. Bar graph below is a nice visual summary.

Short Sale Do's and Don'ts

2012-10-30T16:12:00.004-07:00

A few Do's and Dont's for anyone considering a Short Sale.

Short Sale Do's and Dont's

Do : Start keeping all your bank statements and paystubs. You are going to need to keep providing these throughout the Short Sale review. The more organized your financial records, the easier it will be for you to provide the required documentation.

Don't: Delay. Once you have decided Short Sale is your best option, don't delay getting your home listed and allow your real estate agent to start the conversation with your Lender.

Do : Keep your HOA fees, sewer and garbage current. These fees, no matter how, small can impede a transaction from closing and ultimately cost a Seller lots of money and heart ache.

Don't: Listen to the media, rumor or ill-informed friends and family about Short Sales. Talk to a professional that deals with Short Sales on a daily basis to get accurate information and how it might apply to your individual situation.

Do: Talk to an attorney and/or a tax professional. There are legal and tax consequences to Short Sales and Foreclosures. Make sure you are informed!.

Don't: Ignore your mail and correspondence from the Lender. While much of what you will receive from a Lender might be Demand Letters, many times there is important requests or offers in that mail. Open it up, read it and keep it until you have sold your house.

Do: Maintain your home as best you can afford. While most Short Sale transactions are As-Is, the better the condition of your home, the smoother the process will be for the Buyer and subsequently you as the Seller. Major repair items will limit which types of loans a Buyer can purchase the home with and therefore hinder the chances of a successful Short Sales.

Don't: Make major expensive repairs or improvements just to sell the house unless you can truly afford to do so. Most of the time we aim for the Short Sale Seller to be able to walk away without putting another penny into the property.

Do: Be prepared to wait a while to get a response from your Short Sale Lender. As a general rule, we expect a response from a Short Sale Lender in 30-90 days from submission of a complete Short Sale package.

Don't: Accept just any offer that is submitted. Make sure you have properly marketed the property and have generated the highest-and-best offer possible in the current market. This is why working with a Realtor is so important. The Short Sale Lender wants to know that if they are going to approve a Short Sale, it is the best possible price the market will bear.

Do: Work with a real estate agent with Short Sale experience and a team of short sale professionals (meaning escrow and title, lending, inspections, etc). You don't want to be anybodies first Short Sale transaction! It is not the same as a traditional real estate transaction.

If you have any questions about Short Sales, I am here to help. I have been working with Short Sale Seller's since 2008 and in that time have obtained Short Sale approvals with Debt Forgiveness from most major Lenders (like Bank of America, Chase, Citibank, Greater Nevada Mortgage, GreenTree, Select Portfolio Servicing, Wells Fargo, etc) and Investors (like FHA, Fannie Mae, Freddie Mac). You can contact me for a Short Sale Consultation or give me a call anytime.

Robert Range is a REALTOR® serving Reno and Sparks, Nevada. He is certified in Short Sales and Foreclosure properties by NAR. Robert’s articles and notifications are cross-published on RobertRange.com, Trulia.com, Reno Sparks Real Estate Blog, Facebook and Twitter. You are welcome to contact Robert by phone at 775-200-0658 or Email.

The Short Sale Package. What Is It? What Does It Include?

2012-10-22T20:35:00.003-07:00

We call the documents that a Lender requires to begin a Short Sale review...The Short Sale Package. And while it does vary slightly from Lender to Lender, most are fairly consistent. If you are considering a Short Sale or are getting ready to list a home For Sale as a Short Sale, start preparing and gathering these items. A complete and timely submission of the Short Sale package can be vital to getting Short Sale approval.

Financial Worksheet (usually provided by the Lender, Servicer or Investor).
Hardship Letter
Listing Agreement (not required for pre-listing approval).
Proof of Income for the last 2 months.
Bank Statements from the last 2 months.
Last 2 years Tax Returns, W2's and 1099's.
Most recent mortgage statements.
3^rd Party Authorization Letter.
Fully executed Purchase Contract (not required for a pre-listing approval)
Prospective Buyer's Pre-approval Letter (not required for a pre-listing approval)
Estimated HUD1 or Settlement Statement (not required for a pre-listing approval).

Financial Worksheet : Each Lender, Servicer or Investor will have their own version of a Financial Worksheet. Some will include a series of questions, contact information and a brief summary of the hardship. All will break down the Homeowner's income, monthly expenses, assets, liabilities and monthly payments. These usually need to be dated within 90 days...so if the process takes a while, these might need to be updated during the course of the transaction.

Hardship Letter: This is a letter in the Homeowner's own words that gives them a chance to explain their situation and why they need to do a short sale. A good hardship letter contains a) an apology (I'm sorry for having to ask for a short sale...), b) a story (a description of what happened) and c) a statement (a message that short sale is their last option before foreclosure).

Listing Agreement : Fully executed listing agreement with a Short Sale Addendum. Some Lenders will require certain language to be included on the listing agreement....usually releasing the Homeowner from the listing agreement if Short Sale approval is not obtained.

Proof of Income: Paystubs, commission receipts, etc and/or proof of any other income sources. These need to be updated as time goes on.

Bank Statements: All accounts....all pages (even if there is no information on the last page). No internet print-outs...must be the actual bank statement. These need to be updated as well.

Last 2 Years Tax Returns, W2's and 1099's: All pages, all schedules. If these can't be found – the transcript needs to be ordered from the IRS.

Most Recent Mortgage Statements: All loans on the property (including Home Equity Lines that may not have been accessed).

3^rd Party Authorization: This authorizes the Lender(s) to speak with someone other than the Homeowner in regards to the loans and Short Sale Review. This document will typically include the Homeowners last 4 Social Security Numbers, Birth Date, Property Address and will specifically reference the Real Estate Agent, any assistants and the Escrow/Title company officer.

Fully Executed Purchase Contract : Key components of this are 1) disclosure that the sale is a Short Sale and requires 3^rd Party Approval 2) No repairs (meaning an As-is sale) 3) an "arms length transaction" and 4) a typical split of closing costs for the transaction (the Lender will pay customary closing costs).

Buyer's Pre-approval Letter: Should be from a reputable Lender and reference the type of loan the Buyer is going to be obtaining and either the maximum price they are approved for or the exact offer price of the Purchase contract.

Estimated HUD1 : Typically prepared by the Escrow and Title company. This will include all the transaction costs (eg. real estate commissions, escrow fees, title insurance, etc) and some estimates to cover prorated expenses at the estimated closing date. This is where the Buyer's Offer is "bottom lined" with a Net Proceeds figure for the Lender or Lenders..

Robert Range is a REALTOR® serving Reno and Sparks, Nevada. He is certified in Short Sales and Foreclosure properties by NAR. Robert’s articles and notifications are cross-published on RobertRange.com, Examiner.com, Trulia.com, Reno Sparks Real Estate Blog, Facebook and Twitter. You are welcome to contact Robert by phone at 775-200-0658 or Email.

How long do I have to wait after a Short Sale or Foreclosure before I can purchase another Home?

2012-08-12T15:57:00.001-07:00

This is one the most common questions asked of me these days and for many...the waiting is over. This year more than any other it seems Buyers with Short Sales and Foreclosures are getting back into the market. For some (depending on the type of loan they had previously) the waiting period can be a short as 2 or 3 years.

This is great news to anyone that did a Short Sale or Foreclosure in 2009 or earlier (and there are many!). Interest rates are still at record low levels, and while inventory is limited at the moment, prices have not rebounded a whole lot. Below is a comparison of the major loan products (FHA, VA, USDA and Conventional Fannie Mae) with their respective waiting periods for Bankruptcy, Foreclosure and Short Sales. This information is straight from Guild Mortgage. Other lenders may have additional restrictions.

Feel free to give me a call or email if you have questions about any of this information or would like to discuss your individual situation.

Robert Range is a REALTOR® serving Reno and Sparks, Nevada. He is certified in Short Sales and Foreclosure properties by NAR. Robert’s articles and notifications are cross-published on RobertRange.com, Examiner.com, Trulia.com, Reno Sparks Real Estate Blog, Facebook and Twitter. You are welcome to contact Robert by phone at 775-200-0658 or Email.

2012-05-11T13:15:00.000-07:00

The Reno / Sparks real estate market is red hot right now! That's right – you read this correctly. Not in terms of value appreciation (although there are a few pockets that are seeing some increase in value) but in terms of Buyer activity and interest. Lack of inventory, affordable pricing, appealing interest rates and seasonal interest spike are all contributing factors. Multiple offers on any well priced property in decent condition is the norm right now.

Take a look at the charts and data below. Notice that while we have 5257 listed properties only 2194 are not in contract...the rest are Active Pending Short Sale or Active Pending Loan (meaning they have an offer accepted). While the market looks balanced when you consider Total Listings to Solds (a balanced market is considered 6 months worth of inventory), if you remove the properties with contracts in place there is less than 3 months worth of inventory.

What does this mean for Buyers?
Buyers need to be prepared to move very quickly. Have your pre-approval ready to go and review the offer contract and disclosures before you take a look at a property that has promise. If you like it, you are going to need to write the offer right away. Be prepared for competition and multiple offer scenarios. Many of the best properties are going into contract by the end of the first weekend of showings. Appraisal can be a problem for Buyers planning to utilized government backed financing (FHA, USDA, VA) with offers that start to exceed comparable sales. Cash offers and offers with substantial down payments can be tough to compete with in a multiple offer situation. More information for Buyers.

What does this mean for Sellers?
The showing period can be short but very active. If the home is well priced and in good condition, there will be plenty of showings and offers should come fairly quickly. While appraised value is still limited by historical sales, lots of activity gives an Equity Seller the best chance to maximize dollars in their pocket at closing or net proceeds to the Short Sale Lender (which increases chances of approval!). More information for Sellers in a Short Sale situation.

Feel free to give me a call or email if you have questions about any of this information or would like to discuss your individual situation. I can be reached at 775-200-0658 or by email from website contact form.

Nevada AG Sues Lender Processing Services (LPS)

2011-12-19T14:34:00.000-08:00

DSNews reports that the Nevada AG (Catherine Corez Masto) has filed suit against, LPS alleging deceptive practices against Nevada consumers by executing fraudulent foreclosure documents. According to the AG's office, LPS required employees to notarize and execute up to 4,000 documents every day. The suit also alleges kickback fees and obstruction of communication between foreclosure attorneys and clients.
Read the complete article at DSNews.com

Robert Range is a REALTOR® serving Reno and Sparks, Nevada. He is certified in Short Sales and Foreclosure properties by NAR. Robert’s articles and notifications are cross-published on RobertRange.com, Examiner.com, Trulia.com, Reno Sparks Real Estate Blog, Facebook and Twitter. You are welcome to contact Robert by phone at 775-200-0658 or Email.

AB284 Drastically Reduces Lenders Ability to Foreclose

2011-12-19T14:33:00.001-08:00

A bill recently passed by the Nevada Legislature, known as AB284, was designed to combat foreclosure abuses such as "robo-signing". The effect of this bill is already being seen in Washoe County. Notice of Defaults and Notice of Sale recordings are drastically down for the Months of October and November. Primarily due to the fact that the Lender must now file an affidavit concurrent with the Notice of Default in which the person signing for the bank must have "personal knowledge" of the property...merely having documentary evidence on the property is not enought.

Four of the largest 10 Lenders fail the Treasury's metric

2011-06-14T16:18:00.000-07:00

Treasury Department deemed 4 of the 10 largest loan servicers in the country as needing "substantial improvement" in regards to the Making Home Affordable loan modification program. Bank of America, JP Morgan Chase, Ocwen and Wells Fargo were the four servicers to fail the Treasury's metric.

Inman news reports that:

"In April, more than 29,000 homeowners received a trial HAMP modification and nearly 29,000 additional homeowners received a permanent modification, bringing the total number of permanent modifications under the program to nearly 700,000. Since June 2010, 70 percent of the trial modifications started have been made permanent, the report said."

and

"While we continue to get tens of thousands of new homeowners into mortgage modifications each month, we need servicers to step up their performance to meet the needs of those still struggling," said Tim Massad, acting Treasury assistant secretary for financial stability, in a statement."

Full article available at Inman News.

The other size of the largest 10 were deemed to need "moderate improvement". This includes American Home Mortgage, CitiMortgage, GMAC, Litton Loan, OneWest and Select Portoflio Servicing. Those six will receive their financial incentive payments - while the 4 worst will not.

Robert Range is a REALTOR® serving Reno and Sparks, Nevada. He is certified in Short Sales and Foreclosure properties by NAR. Robert’s articles and notifications are cross-published on RobertRange.com, Examiner.com, Trulia.com, Reno Sparks Real Estate Blog, Facebook and Twitter. You are welcome to contact Robert by phone at 775-200-0658 or Email.

63% of all Nevada properties are underwater

2011-06-08T08:15:00.001-07:00

Corelogic reports that during the first quarter or 2011, 63% of all mortgaged properties in Nevada were underwater. This number leads the country...Arizona (50%) and Florida (46%) round out the top 3. For those of us working in the Reno / Sparks real estate market, this comes as no surprise. Short Sale listings dominate our market right now with no signs of their prevalence changing any time soon. DSNews reports that on a national level, the main problem is homeowners with second mortgages.
They write:
"According to the company’s analysis, a negative equity borrower without home equity loans is upside down by an average of $52,000, versus an average of $83,000 for underwater borrowers with second mortgages."
and
"Many borrowers in negative equity are still able and willing to make their mortgage payments,” said Mark Fleming, chief economist with CoreLogic. “Those in negative equity and impacted by an income shock of some kind, such as a job loss, divorce, or death, are much more likely to be at risk of foreclosure or a short sale. The current economic indicators point to slow yet positive economic growth, which will slowly reduce the risk of borrowers experiencing income shocks.”
Complete article on DSNews.com

Robert Range is a REALTOR® serving Reno and Sparks, Nevada. He is certified in Short Sales and Foreclosure properties by NAR. Robert’s articles and notifications are cross-published on RobertRange.com, Examiner.com, Trulia.com, Reno Sparks Real Estate Blog, Facebook and Twitter. You are welcome to contact Robert by phone at 775-200-0658 or Email.

New HAFA Short Sale Guidelines

2011-04-07T20:22:00.000-07:00

The U.S. Treasury Department has released policy updates to the HAFA short sale program. The updates include a 10 day acknowledgement requirement by the loan servicer; a 45 day timeline for a decision; and properties can now be sold to non-profit organizations with the purpose of renting or reselling to the borrower (something that was previously prohibited). According to the Treasury only 4,488 homeowners have completed a HAFA Short Sale since the program rolled out. They say that there are 10,177 homeowners with HAFA agreements in the works.

Robert Range is a REALTOR® serving Reno and Sparks, Nevada. He is certified in Short Sales and Foreclosure properties by NAR. Robert’s articles and notifications are cross-published on RobertRange.com, Examiner.com, Trulia.com, Reno Sparks Real Estate Blog, Facebook and Twitter. You are welcome to contact Robert by phone at 775-200-0658 or Email.

What has your rate done for you?

2011-04-07T20:12:00.001-07:00

In a world where keeping up with the neighbors is the norm, sometimes it not what you have done for your rate but what has your rate done for you? In today's market I have seen many home buyers come into my office so concerned with what's my rate going to be or what are rates today? My simple answer to them is I can give you whatever rate you want. Let's go through your situation, then we can pick a rate that works best for you. I will break down in numbers exactly what I am referring to.

Say we have a client that is looking to purchase a home. They are currently renting a home and paying $1400 a month. They have $8,000 saved up for a down payment but no real other funds to fall back on should things get tough. They are looking at a home that costs $100,000.00. After going through the application process with them we discover they have excellent credit (above 740) and not a lot of outstanding debts. My approach to this is as follows, I will present them with as many different loan options as they are qualified for. In this situation the best option for them is to go with an FHA loan only costing them 3.5% ($3,500) at closing. Looking at the assets that they have I present these rates for them to look at;

Loan 1 FHA fixed for 30 years at 4.625
Loan 2 FHA fixed for 30 years at 4.875
Loan 3 FHA fixed for 30 years at 5.375

Here is the cost breakdown of all 3.

Loan 1. 4.625 costs 2.250 in points ($2,192.96) Payment of $501.11
Loan 2. 4.875 costs 0.375 in points ($365.49) Payment of $515.79
Loan 3 5.375 costs -2.625 in points (+2,558.46) Payment of 545.78

I would let the customer then chose what fits they comfort level best. The difference from 1 to 3 is $4751.42 up front with a change of $44.67 in monthly payment. It will take them 8 years and 9 months to break even if they select to go with loan 1. By selecting loan 3 you can use the $2,558.46 in funds to pay for taxes, insurance, hoa dues, title charges and not use all of your assets. You never know what might pop up after you have moved into your new home and it's nice to have some cash to fall back on should something pop up.

So when you are with your loan officer and going over rates, ask them to show you what your rate can do for you. If you have any mortgage questions I can be reached at christopher.meert@bankofamerica.com .

Robert Range is a REALTOR® serving Reno and Sparks, Nevada. He is certified in Short Sales and Foreclosure properties by NAR. Robert’s articles and notifications are cross-published on RobertRange.com, Examiner.com, Trulia.com, Reno Sparks Real Estate Blog, Facebook and Twitter. You are welcome to contact Robert by phone at 775-200-0658 or Email.

Energy Audit and Efficiency Requirements for Resale

2010-11-10T16:19:00.001-08:00

The Nevada Association of REALTORS® (NVAR), a group that had an active role in the crafting of SB 437 from the 2007 Legislative Session, reports that they are in full support of R148-10 as crafted by the Energy Commission.

In summary, R148-10 amends SB 437 to:
- only require that the seller provide a 12-month average of the utility bill to a prospective buyer.
- ensure that the form developed by the Energy Commissioner would not cause any additional costs or burdens to the homeowner.
- provide the seller and the buyer with the option to waive that requirement.

The bill, as introduced, and supported by some other interests stipulates that a comprehensive energy audit be conducted at point of sale and that a rating system be utilized to determine the property's energy efficiency. NVAR opposed this requirement because the result would not only increase costs of buying and selling real estate in Nevada for both parties, but also potentially stigmatize poorly rated properties.

Robert Range is a REALTOR® serving Reno and Sparks, Nevada. He is certified in Short Sales and Foreclosure properties by NAR. Robert’s articles and notifications are cross-published on RobertRange.com, Examiner.com, Trulia.com, Reno Sparks Real Estate Blog, Facebook and Twitter. You are welcome to contact Robert by phone at 775-200-0658 or Email.

18491 Datewood Court, Reno - Cold Springs - $125,000

2010-09-17T12:29:00.000-07:00


18491 Datewood Court, Reno, NV 89508	$125,000

Robert Range
	Phone: Fax:	775-200-0658 775-823-8025


PROPERTY PHOTOS

DETAILS
MLS:	100013126	Bed(s):	3
Total Baths:	2	Garage:	2
Type:	House	Full Baths:	2
Year:	2002	3/4 Baths:	0
SQ Feet:	1660	Half Baths:	0
Story(s):	1 Story	Acreage:	0.20
Pool:	N	InfoNow:	9

AREA INFORMATION
Street Address:	18491 Datewood Court Reno, NV 89508
Zip:	89508
Area:	Reno - Cold Springs (136)
Elementary School:	Gomes
Jr. High/Middle School:	Cold Springs
High School:	North Valleys

PROPERTY HIGHLIGHTS
Situated on a cul-de-sac next to walking path and open space. Lots of curb appeal! RV/Boat parking to one side and dog run on the other. Kitchen is open to living/family room. Large separate dining room and office/den. Central Air. Rear deck. This one is in good condition - come take a look!

775-200-0658

Robert Range is a REALTOR® serving Reno and Sparks, Nevada. He is certified in Short Sales and Foreclosure properties by NAR. Robert’s articles and notifications are cross-published on RobertRange.com, Examiner.com, Trulia.com, Reno Sparks Real Estate Blog, Facebook and Twitter. You are welcome to contact Robert by phone at 775-200-0658 or Email.

2355 Howard Dr, Sparks - 3 Bedrooms - $113,000

2010-09-17T12:28:00.000-07:00


2355 Howard Drive, Sparks, NV 89434	$113,000

Robert Range
	Phone: Fax:	775-200-0658 775-823-8025


PROPERTY PHOTOS

DETAILS
MLS:	100012557	Bed(s):	3
Total Baths:	2	Garage:	2
Type:	House	Full Baths:	2
Year:	1972	3/4 Baths:	0
SQ Feet:	1172	Half Baths:	0
Story(s):	1 Story	Acreage:	0.14
Pool:	N	InfoNow:	9

AREA INFORMATION
Street Address:	2355 Howard Drive Sparks, NV 89434
Zip:	89434
Area:	Sparks - East (181)
Elementary School:	Dunn
Jr. High/Middle School:	Dilworth
High School:	Reed

PROPERTY HIGHLIGHTS
Very well maintained and recently remodeled single story 3 bedroom home in well established Sparks neighborhood. Open kitchen featuring tile counter tops and a breakfast bar between kitchen and living areas. Large tree in front yard provides plenty of shade.

775-200-0658

Robert Range is a REALTOR® serving Reno and Sparks, Nevada. He is certified in Short Sales and Foreclosure properties by NAR. Robert’s articles and notifications are cross-published on RobertRange.com, Examiner.com, Trulia.com, Reno Sparks Real Estate Blog, Facebook and Twitter. You are welcome to contact Robert by phone at 775-200-0658 or Email.

Real Estate Market Statistics for July 2010

2010-09-17T12:26:00.000-07:00

Summary: 454 sales for a median price of $180,000 and $105 per square foot. Volume decreases 34.2% over June 2010 while median price increases almost 2.3%. Best performing area is the North Urban with a 29.92% increase in median sales price. Worst performing area is the Sparks with a 3.9% decrease in median sales price.

At months end we had 3,312 active listings in the MLS for a median list price of $103 per square foot or $204,698.

Robert Range is a REALTOR® serving Reno and Sparks, Nevada. He is certified in Short Sales and Foreclosure properties by NAR. Robert’s articles and notifications are cross-published on RobertRange.com, Examiner.com, Trulia.com, Reno Sparks Real Estate Blog, Facebook and Twitter. You are welcome to contact Robert by phone at 775-200-0658 or Email.

Poll Indicates Most Americans Believe Home Prices Have Bottomed

2010-09-17T12:25:00.000-07:00

Poll Indicates Most Americans Believe Home Prices Have Bottomed

DSNews.com reports that a recent poll conducted by Fannie Mae indicates that 78% of Americans believe home prices have bottomed out.

"Of the respondents to the Fannie Mae National Housing Survey, 47 percent believe home prices will hold steady over the next year, while 31 percent expect them to rebound." "A majority of Americans — 67 percent — continue to believe that housing is a safe investment; however, that number is down 16 percentage points from a similar survey conducted in 2003 — the largest drop by far among all investment types tracked since then."

Complete Article at http://tinyurl.com/24n6nu6 DSNews.com by Carrie Bay 09/16/2010

Robert Range is a REALTOR® serving Reno and Sparks, Nevada. He is certified in Short Sales and Foreclosure properties by NAR. Robert’s articles and notifications are cross-published on RobertRange.com, Examiner.com, Trulia.com, Reno Sparks Real Estate Blog, Facebook and Twitter. You are welcome to contact Robert by phone at 775-200-0658 or Email.

Real Estate Market Statistics for June 2010

2010-08-27T14:39:00.001-07:00

Summary: 690 sales for a median price of $175,950 and $103 per square foot. Volume increases 31.2% over May 2010 while median price drops almost 2%. Best performing area is the North Valleys with a 11.1% increase in median sales price. Worst performing area is the Old Southwest with a 16.4% decrease in median sales price.

At months end we had 3223 active listings in the MLS for a median list price of $103 per square foot or $200,000.

Robert Range is a REALTOR® serving Reno and Sparks, Nevada. He is certified in Short Sales and Foreclosure properties by NAR. Robert’s articles and notifications are cross-published on RobertRange.com, Examiner.com, Trulia.com, Reno Sparks Real Estate Blog, Facebook and Twitter. You are welcome to contact Robert by phone at 775-200-0658 or Email.

FHA Delinquencies Fall Again

2010-07-26T16:18:00.001-07:00

According to DSNews.com, FHA delinquencies have dropped again in the month of June. That will be the 5th straight month of declining delinquents. The FHA's operations report indicates that as of June 30th 532,757 of it's guaranteed mortgages are at least 90 days past due (or 8.3%). That is down from 8.4% in May and 9.4% recorded in January.

Read the complete article on DSNews.com at: http://www.dsnews.com/articles/fha-delinquencies-fall-for-fifth-consecutive-month-2010-07-23

Robert Range is a REALTOR® serving Reno and Sparks, Nevada. He is certified in Short Sales and Foreclosure properties by NAR. Robert’s articles and notifications are cross-published on RobertRange.com, Examiner.com, Trulia.com, Reno Sparks Real Estate Blog, Facebook and Twitter. You are welcome to contact Robert by phone at 775-200-0658 or Email.

Lenders Perspective - Installment #1

2010-07-26T16:17:00.001-07:00

I am pleased to announce the launch of a new series of articles featuring information on current Lending requirements, changes in Lending industry as well as some tips and suggestions for Buyer's that are thinking of getting into the real estate market for either primary or investment purposes. I think you'll find the information in this series helpful and valuable. I've asked Denise Lindsay, Vice President at Wholesale Mortgage to be be the primary contributor. Lender's Perspective - Installment #1

Q. Denise, for our first article would you summarize what you are seeing in the market right now? What do you see, in general terms, going on in regards to mortgage industry in the Reno/Sparks region?

A. Rates at their lowest point since mid–1950’s. Mortgages are cheaper today than they’ve been in a half-century...if only most people had the job security, credit score and cash to qualify! The average rate for a 30-year fixed loan fell to 4.69 percent this week (beating the low set in December and down from 4.75 last week). Rates are at their lowest since the mortgage company began keeping records in 1971.

Almost no one expects falling rates to energize the economy though. Sales of new homes collapsed in May after an enticing tax credit expired. Rates have fallen over the past two months as investors have become nervous about Europe’s debt crisis and the global economy and have shifted money into safe Treasury bonds. The demand has caused Treasury yields to fall. Americans normally rush to refinance when rates plummet, but refinancing activity now amounts to less then half the level of early 2009 (when long-term rates hovered around 5 percent). Right now Investors are cornering the market. I will have more for you on the programs to watch for in our next installment!

Contact Denise Lindsay at Wholesale Mortgage at 775-825-1600 or DeniseWholesale@yahoo.com

Robert Range is a REALTOR® serving Reno and Sparks, Nevada. He is certified in Short Sales and Foreclosure properties by NAR. Robert’s articles and notifications are cross-published on RobertRange.com, Examiner.com, Trulia.com, Reno Sparks Real Estate Blog, Facebook and Twitter. You are welcome to contact Robert by phone at 775-200-0658 or Email.