McLean Mortage in Virginia has come out with an innovative way to give their buyers an edge in putting in offers. The McLean "LoanFirst Program" will give a buyer a full pre-approval prior to putting in an offer. This pre-approval differs from a traditional pre-approval because they will put in the full loan application, process the credit and income verification, and fully underwrite the loan (subject to a ratified contract, clear title report, and appraisal) before you even put an offer in. Though this may not help with the lengthy short sales it would most certainly improve a buyer's position in front of a regular seller or asset manager and shorten the closing time that is traditionally required to go from contract to close. Of course, there would be additional updated document requ... 04/11/2013

Ticor Title Company sent out the updated foreclosure stats for March 2013. The full stats can be viewed by clicking the picture to the right. Notice of Defaults hit their highest point since September 2011 (start of AB 284) Notice of Sales (final recording before foreclosure) at their highest since February 2012 Trustee's Deeds were at their highest since July 2012 (small change) New REO listing have hit their lowest point (24) since Ticor began collecting the data The increase of NODs and NOSs is a good sign for buyers though it's going to take at least 9 months to get NODs into Trustee Deeds. Sellers may only have a limited time to name their price when selling their homes. For more information on buying and selling in Reno or Sparks contact Broker Ricky Beach at (775) 750-1437 or Ric... 04/11/2013

Spring in the Sierra Nevadas brings beautiful renewal.  Believe it or not, summer will be here soon.  With the warm summer weather comes plenty of opportunities to enjoy the great outdoors.  The City of Reno Parks and Recreation Department has recently released their Spring/Summer 2013 program guide online (it can be downloaded here).  In it, you will find numerous spring and summer recreational programs throughout the Reno area that have been developed to enhance your quality of life. Some of the programs offered through the City of Reno Parks and Recreation Department include a variety of dance classes (belly dancing, hip/hop, jazz, ballet, tap), martial arts, scrapbooking, dog obedience and a community garden.  Of course, our warmer weather offers the perfect opportunity to participa... 04/08/2013

Spring is the time for renewal.  Nicer weather inspires many Reno residents to clear out the old things cluttering up their homes so they can make things bright and cheery.  Keep Truckee Meadows Beautiful wants to encourage Reno residents to dispose of their old electronic appliances in a safe manner.  They will be holding their Reno Electronic Waste Recycling event on Saturday, April 20, 2013 at the Old Parklane Mall. From 9am to 2pm, Reno residents are welcome to bring their old computers, monitors, printers, cartridges, microwave, cell phones, telephones, servers, hard drives, video game systems, components, speakers and scrap metal/car parts to turn in for recycling.  Refrigerators and air conditioning units will not be accepted, but all other household appliances are welcome.  Old ... 04/01/2013

  FHA Loan Prices To Increase On April 1st- Renownhomes.com If rates go up a refi may not work. You should look into a conventional with 5% down.   Fannie Mae Says Housing Return To Remain- Inman.com It's still about 70/30 that the market won't depreciate in the near future.   Streamlined Loan Mods From Fannie and Freddie- RGJ.com Hopefully, better than the original HAMP.   Rates Headed Up In The Short Term- Housingwire.com Not good if prices are doing the same. 03/29/2013

After taking a walk today on the trail that goes around the Montreux Golf community, it became so clear to me why this community is one of the top picks for people relocating to tax friendly Nevada.... Walking along the trail beneath the tall pine trees, along seasonal streams and breath taking mountains was so relaxing, and just what I needed. The beautiful custom homes along the golf course have amazing views of all that glory ! If you are Considering a Move to Reno, You MUST see this fabulous Golf Community, with beautiful one of a kind homes and available vacant lots. The Montreux Golf & Country Club is located in the foothills above Reno Nevada and is one of the area's most exclusive golf clubs. The Jack Nicklaus-designed course is the centerpiece of the luxury Montreux residential... 03/26/2013

The legislature is in full swing and they will finally begin to tackle the AB284 language debacle. For those of you that haven't been following... AB284 made it tougher for a lien holder to foreclose due to the vague language of "personal knowledge" and other verbiage. Oh yeah... it's also a felony if you mess it up. The Assembly Judiciary Committee will be convening tomorrow, 3/27, at 8:00 am in order to review the provisions. (Vote yes on "business records") The bill text can be read by clicking on the picture to the right and you can watch the committee by clicking on the link below. Nevada Legislature Streaming Video Schedule Of course, there will be future posts if this bill ends up going through and relieving the lack of inventory burden carried in today's Reno/Sparks real estate ... 03/26/2013

Earlier this month the Reno/Sparks Assocation of Realtors published the market stats for February of 2013. View here. The report showed that we have 3.9 months of inventory. For whatever reason (most likely because NAR does it the same way), the Assocation chose to include pending homes in the mix. For buyers and seller this doesn't give a true picture of the amount of inventory we have. Let's do the stats in a more realistic way. In a way that buyers and sellers actually have to deal with. There were 408 units sold with 420 active listings (at the time of report completion). You can view these stats by clicking the picture to the right. So we take 420 actives / 408 solds and we end up with 1.03. That means we have a little over 30 days of inventory. If all new listings stopped tomorro... 03/25/2013

Easter Sunday is just six days away (March 31st).  That's when girls dress up in their finest Easter bonnets and boys in their Sunday best to celebrate the day.  However, most of the Easter "fun" happening in the Reno area takes place this Saturday, March 30th.  That's because the Easter Bunny has decided to make a special trip to the Sierra Nevadas a day early to hide his eggs and other surprises for good little boys and girls to find. Comstock Park (1650 Carat Dr, Reno) - When: 10am.  Hope Community of Reno will be sponsoring the Easter Egg Hunt as well as the pancake breakfast that follows.  For more info, please call (775) 284-4673. Damonte Ranch High School (10500 Rio Wrangler Pkwy, Reno) - When: 9am to 11am.  In addition to the egg hunt, kids can enjoy refreshments, get their face... 03/25/2013

Benjamin Franklin proclaimed "In this world, nothing can be said to be certain except death and taxes".  That's so very true.  This year, the deadline to file your taxes, both state and federal, is on Monday, April 15, 2013.  If those tax forms have got you confused, you are in luck.  Reno citizens can get free tax filing help at a Washoe County Library near them. AARP volunteers who have been certified by the IRS are helping low to moderate income people of all ages living in the Reno area.  However, since they are AARP volunteers, they have been specially trained for assisting Reno's elderly citizenry (ages 60+).  These specially trained tax filing volunteers can be found at: Downtown Reno (301 S Center St) - Mondays and Thursdays only, 1pm to 4pm.  Walk-ins are welcome.  For more inf... 03/18/2013

Just wanted to share some pics of Reno, NV   03/17/2013

Are you looking to buy or sell a home in Reno or Sparks?  Call Sandra for professional consultation  (775) 287-8222). Summary As inventory continues to be scarce, we are experiencing month-over-month increases in median home sales prices. This scarcity is also creating a high demand for homes causing the number of existing home sales to also increase. As northern Nevada's weather continues to get warmer, we are cautiously optimistic that sales numbers will continue to rise in the next few months. Reno Sparks Median Home Price February 2013 median home price was up 5.6% to $190,000 compared to $180,000 in January 2013 and up 30.7% compared to $145,000 in February 2012. Median price is defined as the mid-point, where, for the time period identified, the price for one-half of the sales ar... 03/17/2013

  This Old Reno Southwest Tri-Plex has recently SOLD for $292,000. The property located at 3683 Grant Dr., consisted of three, 2 bedroom, 1.5 bath units each unit at 952 square feet. Each unit had it own one car garage. Located in one of the best areas of Reno, Old Southwest, just off Moana and S. Virginia. You could walk to Old Town Mall, shopping, restaurants, and professional medical offices. Two shopping centers are located across the street, one with a day-care center. Reno bus transit stops right on the corner. This was a great investment opportunity and a California buyer took advantage of the price and location to complete the deal in a 1031 exchange 03/16/2013

 ~ Open House at 2010 Margot Circle this weekend! March 16th & 17th ~ Saturdays are always great days to go out for drive and check out some neighborhood open houses ~ especially in this weather we are experiencing! Join Steve Miller of Ferrari-Lund  at 2010 Margot Circle in Reno on Saturday and Sunday, March 16th & 17th from 11am to 2pm and check out this amazing home! Located in one of my favorite Reno neighborhoods, the Old Southwest, this custom built home is located on a quiet cul-de-sac with shopping, city services, and top rated schools mere minutes away. A cook’s delight kitchen including a gas burner cook top over an electric oven. Recently installed engineered hardwood flooring is throughout the home giving it the character and durability to last. Abundance natural lighting th... 03/15/2013

The Reno/Sparks Association of Realtors came out with their monthly market report. This report covers the real estate stats for February 2013. The full report can be viewed by clicking the picture to the right. Below are the cliffs... Median sales price rose to $190,100 after a January drop. This is up 23.5% since February 2012. The average sold price per sqft. if $109. Sold units were up from January but still down compared to fall of 2012 due to low inventory. There were 462 new listing with over half 60% being regular sales. Months supply of inventory is 3.9 months. Making it a ridiculous sellers market. Summary: The bidding wars won't end anytime soon. For more information on buying a home in this market or what your home is worth contact Broker Ricky Beach at (775) 750-1437 or Rick... 03/13/2013

St. Patrick's Day is this Sunday, March 17th.  Many people will be celebrating by getting their drink on Saturday night.  However, this is also your chance to help raise money for children with cancer.  Reno will be celebrating St. Balderick's Day on Saturday, March 16, 2013 at the Reno-Sparks Livestock Events Center. From 5pm to 8pm, the Northern Nevada Children's Cancer Foundation will be holding their annual St. Balderick's Day event.  Last year, supporters were able to raise over $220,000 for the NNCCF's goal of finding a cure to pediatric cancer.  More than 300 Reno area "shavees" donated their heads of hair to the cause.  Roughly half of the shavees were children, teenagers and women.  There will be prizes for teams and individuals that bring in the most money.  For more informati... 03/11/2013

Most Home Inspectors are out to do the best job they can. I think a Home Inspection is one of the best investments one can make when owning a home. But as utility prices rise and consumers are getting more concerned about wasting energy does the Home Inspector address much of this. They do to a point, The inspector comments on insulation and ventilation of the structure. But there can be more to it and that's where the building science training kicks in. I’m a Home Inspector and a Energy Auditor in the Reno area. I spend allot of time on education and looking at houses. Standards change over time. The days of drafty poorly insulated houses are a thing of the past. Buyers are not willing to spend tons of extra money each month to heat a home. People want a more comfortable and efficient ... 03/05/2013

  We’re experiencing a VERY strong sellers market for now… After spending the last 4+ years as one of the hardest hit states in the nation for housing and foreclosures, Nevada may be on the road to recovery. The million dollar question is, will it last or is this just another bubble?? Belinda and I listed a property for one of our clients last month, and listed it on the high side of the sold comps given the buyer demand and shortage of inventory in our market. The home was only on the market for 2 days and our client received 3 offers and 2 of the offers came in all cash, $10,000+ above list price. Another recent listing in South Reno was only on the market 1 day and had over 20 showings and 5 offers by the end of the day. The prices are still not close to what they were back in the he... 03/04/2013

This Sunday, March 10th, Daylight Savings Time 2013 begins at 2am.  That's when we all set our clocks forward one hour (unless you live in Arizona).  I'll be waiting until the morning to change my clocks, though.  Anyone living in or visiting the City of Reno can "spring forward" at West Street Market. Located in downtown Reno, the West Street Market is a unique, urban marketplace filled with local vendors showcasing their one-of-a-kind merchandise.  You have several restaurants to choose from that utilize the best of local fruits and vegetables.  The West Street Wine Bar offers more than 50 different local, national and international wines that can be purchased by the glass.  However, if wine isn't your thing, there are dozens of beers to choose from as well.  Poetry readings and live ... 03/04/2013

The January real estate stats are out thanks to the Reno/Sparks Association of Realtors.  You can view the full report by clicking the picture to the right or watching the video at the bottom of the post. Here are the cliffs: Uh Oh! The median sales price was down 3.2% from December 2012… but still up 33.3% from January 2012. New listings were up 28.4% from December 2013 but still down 32.8% from January 2012. 215 of the new 389 listing were regular sales while 132 were short sales. Only 37 were REO. Average sold price per sqft. was $103 Month’s supply of inventory rose to 4.6 months. Still a seller’s market. Oh yeah… the sale to list price ratio was above 100%. Meaning homes sold for more than asking price.     For questions about buying or selling in this up and down market contact Br... 02/25/2013