Sandra Mathewson, CRS, ABR, GRI

For awhile Fallon was avoiding the foreclosure mess, but they have crept in and are affecting the values.

March 2009 14 homes were sold, 8 were bank-oned, 1 short sale, 5 regular sales.

High list price $279,500, Low $79,900 Average $160,707

High sale price $269,000 Low $75,000 Average $153,342

Average days to sell 196 days, average sq.ft. cost was $92

Starting off in April 2009

182 listings

28 are bank-owned high list price $299,900 Low $24,900 Average $121,692

16 short sales high list price $265,000 Low $99,000 Average $182,168

Average days on market are 151 days

136 regular listings high list price $729,500 Low $66,500 Average $264,802

Average days on market are 192 days

With low interest rates, and rock-bottom prices on bank-owned homes sales are picking up. The Nevada Bond Program provides for no-money down and the First-Time Home Buyer Tax Credit is good for $8000. (Some restrictions apply)

Call Sandra at (775) 287-8222 for more information or visit www.SoldOnFernley.com

(Every attempt has been been to provide factual information)

Silver Springs, Nevada is a very small town, usually overlooked, but I think it has a bright future. Rural, lots of land available and right in the middle of Fallon, Fernley, Carson City and the new highway coming right towards it.

For March of 2009:

2 stick built homes were sold, #1 list price $99,900, sold for $97,000 @$74.39 sq.ft. This was a bank-owned property. #2 listed at $190,000, sold for $160,000 @$93.57 sq.ft.

7 manufactured homes were sold, 5 were bank-owned 2 were regular sales.

High list price $190,000 Low list price $24,900 Average list price $83,821

High sale price $160,000 Low list price $24,900 Average list price $73,400

Average days on market was 120 days.

Heading into April:

18 stick built homes: High list $309,500 Low $89,000 Average $168,063

Average days on market 304, 4 bank-owned, 1 short sale, the rest regular listings.

53 manufactured homes High list $281,900 Low $44,500 Average $139,988

Average days on market 201, 3 bank-owned, 4 short sales, 1 subject to court approval, the rest regular listings.

Reno/Sparks and Fernley are all seeing an big jump in sales due to low prices on bank-owned homes, low interest rates and the First-Time Homebuyer Tax Credit. With the Nevada Bond Program you can purchase a home with no money down. The $8000 tax credit comes back to you in cash if you don't owe any taxes. Call Sandra (775) 287-8222 for more information. Or go to: www.SoldOnFernley.com

The end of winter, low home prices and interest rates are bringing out the buyers. We sold more homes in March than February.

The golf course had 9 homes sold in March, compared to 7 in February. All 9 homes were bank owned homes:

List price high $189,900 Low $104,900 Average $141,466

Sales price high $189,000 Low $ 80,000 Average $130,044

The average per sq.ft. list price was $76, the average per sq.f ft sales price was $69 and the average days to sell 150 days.

The rest of Fernley closed 39 homes in March, that is 10 more than February.

List price high $319,800 Low $ 56,000 Average $138,797

Sales price high $356,238 Low $ 49,900 Average $135,303

Of the 39 homes, 27 were bank owned, 5 short sales and 7 regular sales. The average per sq.ft. list price was $79 and the average per sq.ft. sales price was $77. The average days to sell was 167 days.

Starting off in April for listings it breaks down to 305 listings for Fernley AND the golf course.

Golf Course has 37 listings, 18 are short sales, 9 are bank owned and 9 regular listings.

List price high is $499,999, Low $92,500, Average $155,070. The average per sq.ft. price is $84 and average days on market are 127 days.

The rest of Fernley has 268 home for sale,

113 homes are bank owned and 81 short sales. The high list price is $4,200,000, Low $45,000 and the average is $172,187. The average days on market is 129 and average per sq.ft is $87.00.

The numbers indicate homes are selling and the number of short sales transactions indicates the banks are working very hard to make the sale. This means there will be less foreclosures down the road.

Fernley is still a popular place to live and right now it is MORE AFFORDABLE than before. The USDA Nevada Rural Bond Program offers no money down and very low interest rates.

The First-Time Buyer Tax Credit is putting money in their pockets!

Everyday the newspapers are filled with troubling statistics on the economy and foreclosures. Sometimes it is hard to find any good news at all. Let me tell you about a success story, a recent transaction that I had representing the buyers Justin and Nickia.

The young couple with their two children were looking to purchase their first home. The timing was right, home prices were at an all time low, and interest rates made owning a home an affordable option.

The couple easily qualified for a USDA Nevada Bond Program loan which meant no money down and a very low interest rate. They put in an offer on a foreclosed home for $129,900 and asked the bank to pay $6000 in closing costs.

April Diehl at PrimeLending in Fernley is an extremely detailed Loan Officer and she handled all the paperwork and was able to get the loan closed on time.

The day after Justin and Nickia closed on their new home, they mailed their 2008 income tax return which will give them an $8000 cash refund for the First-Time Home Buyer Tax Credit.

Not everything is bad news, there is good news in Fernley for a young couple. Call Sandra and find out if you qualify for the Nevada Bond Program and the tax credit.

Sales continue to be very robust in Fernley. Even though we lead the area in foreclosures, the sales activity has been very good. Many of the sales have been "cash" sales.

For the month of February 2009 there were 36 homes sold. Of those 7 were at the golf course community and ALL seven were bank owned homes.

High list price $179,000 Low list price $109,900, Average List price $133,085 Median $122,500

Sales price $176,000 Low sale price $105,000 Average sale price $131,828 Median $122,500

You can see the bank owned homes are very well priced and selling within a few thousand dollars of the list price.

For the rest of Fernley there were 29 homes sold as follows:

High list price $201,000 Low list price $60,000 Average list price $121,601 Median $114,900

Sales price $210,000 Low sales $55,555 Average sale price $117,423 Median $115,000

Of the 29 homes sold, 25 were bank owned, 2 were short sales and ONLY 2 were regular sales. The average days on market for the bank owned are 162 days and average sq.ft. cost is $78.

Starting off in March 2009 we have 284 listings:

There are 40 listings in the golf course with the low price $99,000, average $165,135, median $152,450 and the high price of $597,800.

Of the 40 listings 17 are bank owned with a price of $99,900 to $189,900. The average per square foot cost is $89.

The rest of Fernley has 244 listings, from $45,000 to 4,000,000. The low is $45,000, average $182,964 and the median of $131,450.

Of the 244 listings, 90 of them are bank owned. The low price is $45,000, average $129,017, median $114,950 and the high is $304,900.

Of the 154 remaining listings 71 are short sales with a low price of $49,500, average $130,294, median $114,900 and the high price $299,500. Average per sq.ft. cost is $77 and days on market are 101.

Basically, everything in Fernley is either bank owned or a short sale.

At least they are selling, that means recovery from this mess is taking place.

Fernley still has a lot to offer and the prices are pre 2001.