If you own a home, there is an odd phenomenon, totally unscientific in nature but completely true from my personal experience. As an agent I find that neighborhoods go through selling cycles every 5 to 7 years, which works in terms of average appreciation rates in a normal healthy market. This selling cycle is a bit inconvenient in our current market. Here has been my experience as a homeowner. You move in to your new home, start making it your own, slowly step out of your comfort zone and begin bonding with your neighbors. You go through a couple of years of neighborhood holiday parties, borrowing... Read More
The easiest place to start is the down payment; most FHA loans require 3.5% minimum. Every lender will require an appraisal, to determine the market value of a house. To get a complete cost of what a lender is going to charge ask for a good faith estimate. Lender title insurance policy is another lender requirement.
A buyer should always know the condition of the home he/she is purchasing. This can be accomplished by getting everything inspected by a licensed professional. A home, pest, septic, and well are the common inspections, however there are more. I do not recommend cutting... Read More
Here the site for more information http://www.leg.state.nv.us/75th2009/Bills/AB/AB149.pdf
The 3 steps for a homeowner to keep his house:
1.) Talk to the bank and try to refinance.
2.) Contact a senator and ask for his help getting a loan modification.
3.) Request MediationRead More
Sales are starting to increase especially in the under $150,000 range. The sale price remains under pressure from bank owned properties.
April had 419 properties sold compared to 366 in March. This makes 4 straight months of a positive swing in sale in the Reno - 100 Area. However, April saw a 6% drop in median price after three months of relative stability. Of the 419 sales in April 215 were bank owned and another 80 where short sales.
649 new listing came on the market in April a drop of 12% from March. 370 of these listing were either bank owned or a short sale.
Send... Read More
It's been a busy time for buyers these days. The 1st time buyer segment of the market is HOT, HOT, HOT! Short sales and bank owned properties are selling in days with multiple offers provided they are remotely habitable...and I mean remotely! What does this mean for buyers? Well, you can still be aggressive but now a little bit of reality needs to get mixed in because you are competing with investors who are cash heavy.
For buyers a house is still worth what you are willing to pay as long as it appraises. Good news is, there are some regulations in place that will prevent frivolous... Read More
I realize it is hard to stomach, but short sales and foreclosures have driven the value of homes way down. Â The good news is houses are starting to sell if they are priced right. Â It use to be: that a seller could find the highest price house that compares to his, price his house a little higher, wait a couple months and he would sell the house. Â Now if a seller prices his house to high and waits a couple months the actual selling price is less than before.Â In order to sell a house, the price must be accurately determined to get a fast sale for the most... Read More
Article 1 When representing a buyer, seller, landlord, tenant, or other client as an agent, REALTORS® pledge themselves to protect and promote the interests of their client. This obligation to the client is primary, but it does not relieve REALTORS® of their obligation to treat all parties honestly. When serving a buyer, seller, landlord, tenant or other party in a non-agency capacity, REALTORS® remain obligated to treat all parties honestly. (Amended 1/01)
· Standard of Practice 1-1
REALTORS®, when acting as principals in a real estate transaction, remain... Read More
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