Tagged : Reno Real Estate news 
There are currently 18 blog entries matching this tag.
Can you say Recovery?
Wednesday, January 25th, 2012 at 9:28am. 25 Views, 0 Comments.
Well kind of, the economist's at the National Association of Realtors are reporting that existing home sales for 2011 were up by 1.7% and the inventory of existing homes on the market is the lowest since March of 2005. Consumers are gathering confidence from the low interest rates, great prices and job growth. Here in Nevada we have to keep this in perspective, we will always trail behind any sort of national statistics. But also thanks to the new law AB 284 that went into effect in Nevada on October first, the number of NOD'S, (notice of defaults) that were filed have been cut by about 95%.
The reason why is the law states that before a bank can foreclose on you, they must be able to prove that they have the right to foreclose on the property. They will…
Considering a Loan Modification? Don't get Scammed!
Wednesday, November 23rd, 2011 at 10:58am. 139 Views, 0 Comments.
Many families are dealing with a cut back on their family income, and it can be comprimising being able to make the mortgage payments. Loan modification is an adjustment to the original terms agreed upon with the bank. Three things can be adjusted; interest, amount owed, and length of the loan.
These possible changes have a vast group of homeowners considering and checking into the loan modification advertisements, often seen on Yahoo, Bing and Google. The Office of the Special Insepector General for the Troubled Asset Relief Program, SIGTARP, has shut down mortgage modification scams where the advertiser promises to lower the homeowners' mortgage for a fee. The victims are promised that the Troubled Asset Relief Program called HARP will be used. The fee…
University of Nevada ranking
Wednesday, October 19th, 2011 at 4:42pm. 149 Views, 0 Comments.
University of Nevada in Reno has been ranked 181 out of 1600 national colleges.
U.S News and World report issued it annual "Best Colleges"Rankings today and UNR is again in the top tier of best national universities coming in at 181. The rankings now include a list of the top public schools and we came in at 100. Schools in this category offer a full range of undergraduate majors, masters and doctoral degrees. This years ranking at 181 is up from last year at 191.
Reno has an enrollment of more than 17,000 students and the University is home to the States medical school and one of the country's largest study abroad programs. Its campus size is 255 acres and utilizes a semester based academic calendar. It's in state tuiton is $4,481.00 and out of…
We are in the Eye of the Storm
Monday, August 29th, 2011 at 11:42am. 272 Views, 0 Comments.
Over the last 45 days the real estate market has become eerily quiet, some of it has to do with kids going back to school and families getting the most out of their vacations. But make no mistake we have a lot of buyers that have been sidelined do the inability of congress to make decisions on the debt ceiling, unemployment over 9%, the falling stock market and Ben Bernanke's speech that failed to come up with a stimulus plan.
Consumer confidence is at the lowest level since the financial crisis in November of 2008 and the 4th lowest level since they began this index in 1978, see the graph below from the University of Michigans Consumer Sentimnent index. There is currently no confidence in the econony, the leadership and especially the Real…
Old Southwest Reno voted one of the best and coolest neighborhoods in America
Friday, July 1st, 2011 at 8:41am. 684 Views, 1 Comments.
Mens Journal magazine recently voted The old southwest part of Reno as one of the coolest neighborhoods in America. With its proximity to downtown, the river and the resurgence of the Freight House district it is no wonder we are being compared to Boulder, Colorado. Some of the homes in this area are over a hundred years old and have a lot of history, if you are into quaint brick and tree lined streets, this is the place for you.
California avenues mansion row is where it all started, sitting on a bluff high above the Truckee river with spectacular views and turn of the century architecture. Originally a dirt road it is the center piece of your historical tour of Old Southwest Reno. Jack Dempsey the prize fighter actually lived in a house on California…
Sprawling Ranchette in The Estates at Mt. Rose
Friday, February 11th, 2011 at 9:19am. 1375 Views, 2 Comments.
We just listed 14905 Napoleon Ct. in Mt. Rose estates, almost 3000 square feet on one level. Property is 1.25 acres with fantastic views of Mt. Rose, you can actually look up and see if you want to go skiing today. kitchen accoutrements include cherrywood cabinets, slab granite counters, GE Monogram and Profile stainless steel appliances plus there is a butlers pantry to the formal dining room. We listed it for $515,000 and everything is done, including brushed nickel fixtures, stone and wood floors and upgraded window treatments.
Outdoors there is an oversized paver patio with trellis, full vineyard to grow your own table grapes and lots of specimen trees for privacy. There is also an inground built in hot tub to enjoy the snow capped moonlit…
FHA No Flip rule suspended for 2011
Tuesday, January 25th, 2011 at 8:44am. 763 Views, 2 Comments.
"What does this mean?". Normally HUD will not allow an FHA insured loan on a property that has been bought by an investor, fixed up and sold within 90 days. During the time of boom to bust there were some unscrupulous investors that would buy properties and turn them immediately, sometimes with a straw buyer at hyper inflated prices.
What we are seeing now is a void being filled by the investors who have the money to buy properties that have been abandoned for months, fixing them up and putting in a qualified buyer who has a nominal down payment and who would not have otherwise had the money to fix up such a property. Thus taking these eye sores off of the market and helping the values of the neighborhoods they are located in.
"Property flipping is…
Reno Real Estate Blog
Friday, January 21st, 2011 at 5:11pm. 555 Views, 0 Comments.
I've just partnered up with 3 of Reno's top Real Estate Industy leaders to bring you an informative Real Estate blog.
www.RenoRealEstateGurus.com
David Hughes - Reno Residential Guru Reed Simmons - Reno Commercial Real Estate Guru Stephanie Hanna - Reno Mortgage Lender Guru Erin Schiller - Reno Title and Escrow Guru We are excited to be bringing you all the news and updates from all aspects of the Real Estate Market. We will also be adding other authors such as a home inspector, appraiser, water rights expert etc., this will become the resource in the Reno area for all of your Reno Real Estate questions. Reed Simmons with Grubb and Ellis in Reno has been in the real estate industry for 30 years and was once a partner at Dickson Realty.…Bank of America Back in Business on Foreclosures
Friday, October 22nd, 2010 at 6:17pm. 602 Views, 2 Comments.
That was quicker than I thought, it was just 2 weeks ago that they had halted foreclosures due to the Robo Signing scandal. Bank of America has resubmitted affidavits in 102,000 foreclosures in 23 states. This would allow them to resume foreclosures in those states.
They plan on resuming foreclosures in the remaining 27 states as soon as it completes the review of the foreclosure process in each one of those states. According to a bank spokesperson the basis for the foeclosure decisions was accurate, meaning the people they are foreclosing on are behind on their payments and should be foreclosed on.
Bank of America is just one of 6 loan servicers that have been under scrutiny for allowing employees to sign off on affidavits without reading them. BOA and…
New FHA changes as of October 4, 2010
Wednesday, September 29th, 2010 at 11:50am. 248 Views, 0 Comments.
FHA Changes effective October 4, 2010: What's it really mean to the average buyer?
The good: FHA has maintained a miniumum 3.5% down payment.
More Good:The up front mortgage insurance premium (ufmip) has been reduced from 2.25% of your loan amount down to 1%. This amount is not actually collected upfront, but rather financed back into your loan. The lower this is, the lower your final loan amount is.
The Bad: The monthly mortgage insurance, or annual premium as FHA calls them is going from .55% to .90% on all loans that are for 95% or more of the sale price/value, and from .50% to .85% for all loans less than 95% of the sales price/value. So this monthly premium is almost doubling.
Simply put, for a buyer purchasing a $100,000 home with an FHA loan…
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