If you are struggling making your mortgage payments you need to seek help as early as possible to avoid foreclosure. Fannie Mae, an insurer of home loans, has released a new interactive tool online to help you determine what your options are. KnowYourOptions.com The website is designed to be a virtual one-stop-shop for anyone facing [...]
Saturday, July 24, 2010
The National Association of REALTORS released some updated infomation on the affects of short sale, foreclosure, bankruptcy and deed-in-lieu of foreclosure on FICO scores and the ability to purchase another home. Short Sale (Deed-inlieu of Foreclosure Guidelines are similar) – According to the report the affect on your FICO score from short sale depends on [...]
Friday, June 25, 2010
The federal goverment gave 5 states the go ahead to start using funds from the “Hardest Hit Fund”. Nevada’s state housing finance agency (HFA) will be allotted $102.8 million dollars. There are four primary elements to the Nevada Plan. 1. Mortgage modification with principal reductions and some forebearance. The prinicipal reduciton component will be in the [...]
Thursday, May 13, 2010
Sellers if your mortgage is FHA insured the process for a short sale is very different. Make sure you work with an agent who knows the difference and can guide you through the process. FHA guidelines require a seller to get their home approved into the FHA Pre-Foreclosure Program prior to listing the property. Sellers [...]
Monday, April 26, 2010
REALTORS Care Nevada will be hosting a Housing Counseling Event for homeowners in the Reno-Sparks and surrounding areas on Saturday, May 8th from 10 a.m. to 4 p.m. The event will be held at the Reno Sparks Association of REALTORS which is located at 5650 Riggins Court, Reno. Homeowners will have the opportunity to hear [...]
Monday, April 5, 2010
The new Home Affordable Foreclosure Alternative (HAFA) program introduced by the Treasury starts today. This program was designed to help homeowners who did not qualify for the Home Affordable Modification (HAMP) program or were unsucessful at completing a trial modification. The new HAFA program allows the homeowner to apply for and get a pre-approved short [...]
Friday, March 19, 2010
HopeNow, the US Department of Treasury, HUD and Neighborworks are sponsoring a Foreclosure Prevention Event in Reno on Tuesday, April 6, 2010 from 1 p.m. to 7:30 p.m. The event will take place at the Reno Sparks Convention Center, 4590 S. Virginia Street. Homeowners who are struggling with their mortgage can come to the evern and [...]
Tuesday, March 2, 2010
Want to know what’s happening in the Sparks-Spanish Springs real estate market. Here is a recap of what sold in February 2010. (Stick built homes in Sparks-Spanish Springs from MLS data) There were 45 short sales closed in February with a median list price of $159,900 and median sold price of $156,000. The average days [...]
Wednesday, January 13, 2010
With a new decade just begun, it’s interesting to look back at where we’ve been these past 10 years. In 2002, there were 1023 single family homes sold in the Truckee/Lake Tahoe area, with a median price of $397,500. By 2006, we reached the peak of market value, at a median price of $680,000. Now, [...]
Friday, December 11, 2009
While the real estate market continues to struggle, one local realtor managed to shine in 2009. Amy Shocket, REALTOR® with Dickson Realty, was recognized by both the Reno Sparks Association of REALTORS® and the Northern Nevada Women’s Council of REALTORS® this year. The Reno Sparks Association of Realtors (RSAR) presented Shocket with the Matt Gibbons Memorial Award [...]
Tuesday, August 3, 2010
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