Making Home Affordable ~ Does Your Lender Participate?
The Treasury Department announced the eligibility and lender requirements for the Home Affordable Program on November 30, 2009.
They did not say all "lenders" and "servicers" had to participate in this new program that is designed to help home owners who are having trouble or are not able to make their mortgage payments.
To find out if your lender or servicer participates you can do two things. You can call your lender directly to find out if they participate. Or you can go the the Making Home Affordable website and look for your servicer on the list provided.
If you would like to participate in the Making Home Affordable programs you MUST meet FIVE basic eligibility criteria:
1) The loan must be for your primary residence
2) First lien originated before 2009
3) You are delinquent or in default because of a reasonable cause or foreseeable (loss of income)
4) Unpaid balance cannot exceed $729,750
5) Your total monthly payment exceeds 31% of your gross income.
The Making Home Affordable plan is designed to help homeowners avoid a foreclosure on their primary residence. To find out out more information go to www.makinghomeaffordable.gov or feel free to contact me for further information.
Making Home Affordable Plan ~ Does your lender participate?
Daylight Saving Time ~ Move Your Clocks Ahead One Hour!
Every Spring we move our clocks ahead one hour and loose an hour during the night. Daylight Saving Time occurs every year during the second week of March. During this time we are able to save energy because of using less energy lighting our homes. The days are longer!! Spring is just around the corner.
The first day of spring is March 20, 2010. What is so exciting about spring? As the weather starts to get warmer, people begin to spend more time out of doors, flowers start to bloom, and baseball is just around the corner!
Daylight Saving Time is not only a time to change your clocks, it is also the time to change the battery in your smoke detector! This can not only save your home in case of an emergency, it can also save your life! After you change the battery to your smoke detector, don't forget to test it to be sure it works!
Remember, change your clocks and change your batteries!
Making Home Affordable (MHA) ~ Home Affordable Foreclosure Alternatives Program (HAFA)
On Novemeber 30, 2009, the U.S. Treasury Administration announced a plan to set guidelines directed toward lenders and servicers to help borrowers who are having trouble making their mortgage payments.
These new guidelines are designed to help home owners avoid a foreclosure and are suppose to speed up the "short sale" process and/or loan modification. The full article on President Obama's Making Home Affordable Plan can be found at www.makinghomeaffordable.gov.
Many folks are wondering how this program will work and what they should do. The first step the home owner needs to take is to find out if their lender or servicer is taking part in this program. The next step will be finding out if you are eligble for a loan modification or to short sell you home. Always contact your lender with questions regarding your mortgage first. They will tell you if they are participating in this program. Not all lenders are singed up to participate.
Are you eligible for the MHA or HAFA programs?
To be eligible you must meet the following five basic criteria:
1) The property must be borrowers primary residence
2) First lien on the property must have originated before 2009
3) The mortgage is delinquent or default is reasonable foreseeable
4) Unpaid principle balance not more than $729,750
5) Borrowers total monthly payment exceeds 31% of gross income
To find out if your lender is part of the Making Homes Affordable plan, visit the Making Home Affordable website. This plan does not take place until April 5, 2010 yet some participating lenders have already started mailing letters to borrowers who are behind on their monthly mortgage payments. If you are one of the millions of home owners behind on your mortgage payment and have NOT been opening you mail from your lender, you may want to start. There could be valuable information regarding the MHA and HAFA rules and guidelines that could help you.
Should you have any questions or need further information, please feel free to contact me, 775.846.5424.
Making Home Affordable ~ Home Affordable Foreclosure Alternatives ~ Are you eligible?
Here are your market statics for Reno, Nevada ~ February 2010
Here are your market statistics for single family homes sold in Reno, Nevada for February 2010
Sold = 214
Average Sold Price = $248,747
Average days on the Market = 139
There were 214 single family homes sold in Reno, Nevada during February 2010. Approximately 68 of the 214 homes sold were bank owned / foreclosure properties.
The average selling price of a Reno Nevada bank owned property in February 2010 was $212,380. Foreclosed properties spend an average of 72 days listed for sale in theNorthern Nevada Regional Multiple Listing Service (NNRMLS).
There were 69 short sale properties soldduring February. The average sold price of a short saleproperty was $206,759 and spend an average of 207 days listed in the NNRMLS.
Currently Listed / Active Listings in Reno, Nevada:
Active = 1148
Average List Price = $493,997
Are you looking to buy a foreclosed / bank owned property in Reno, Nevada? Currently there are 88 Reno bank owned properties listed for sale in the NNRMLS.
The average list price is $237,000. Bank owned properties tend to sell and receive offers quicker than any other listing therefore it is import to have a northern Nevada real estate agent working for you to help you find the right bank owned property the day it is listed.
If you need someone to help you locate your bank owned property, I check the Northern Nevada Multiple Listing Several times a day and I can search for you so you are one step a head! Please feel free to call me at 775.846.5424 or email me at Terrie@Terrieleighton.com
Are you looking to buy a short sale property? Currently there are 382 short sale properties located throughout the Reno area. The average list price for a Reno short sale is $253,428.
Short sale properties generally take twice as long to close than bank owned or regular sale properties. So if you are not in a hurry to get into your new home, short sales may be a good choice for you.
Feel free to call me (775.846.5424) or email me (Terrie@terrieleighton.com) to help you search for your Reno, Nevada short sale property.
Note: The numbers in this market report are derived from the NNRMLS and are believed to be accurate, but they are not guaranteed!
If you need help buying or selling your home in Sparks, Nevada, finding the right Realtor can help make your real estate process simpler. Knowing what the Sparks, Nevada real estate market is doing from month to month, day to day, is key in being a successful buyer or seller.
Let me help you with your home buying or selling process. Visit my web site at www.servingrenoandsparks.com to find different Northern Nevada neighborhoods that might interest you and help ease your home search. Or, sign up for a free LisitingBook account so you can search Northern Nevada properties at www.sellingrenoandsparks.listingbook.com just like I do. It is free and is updated every 15 minutes.
Reno Nevada Market Report For February 2010
Sparks Nevada Market Statistics for February 2010
Here are your market statistics for single family homes sold in Sparks, Nevada for February 2010:
Sold = 97 Single family residences
Average Sold Price = $175,426
Average Days on the Market = 97
(Compare to January 2010 market statistics here)
There were 97 single family homes sold in Sparks, Nevada during February 2010. 27 of the 97 homes sold were bank owned/ foreclosure properties. The average selling price of a Northern Nevada bank owned property was $163,702 and spent an average of 60 days listed for sale in the Northern Nevada Regional Multiple Listing Service (NNRMLS).
There were 97 single family homes sold in Sparks, Nevada during February 2010. 38 of the 97 homes sold were short sale properties. The average sold price of a Northern Nevada short sale home was $173,921 and was listed on the NNRMLS for at least 200 days.
Current / Active single family listings in Sparks, Nevada are:
Active = 362
Average listing price = $230,535
Are you looking to buy a foreclosed / bank owned property in Sparks, Nevada? Currently there are 27 bank owned properties listed for sale in the NNRMLS. The average list price is $151,287. Bank ownedproperties tend to sell and receive offers quicker than any other listing therefore it is import to have a northern Nevada real estate agent working for you to help you find the right bank owned property the day it is listed. If you need someone to help you locate your bank owned property, I check the Northern Nevada Multiple Listing Several times a day and I can search for you so you are one step a head! Please feel free to call me at 775.846.5424 or email me at Terrie@Terrieleighton.com
Are you looking to buy a short sale property? Currently there are 198 short sale properties located throughout Sparks, Nevada. The average list price is $193,414. Short sale properties generally take twice as long to close than bank owned or regular sale properties. So if you are not in a hurry to get into your new home, short sales may be a good choice for you. Feel free to call me (775.846.5424) or email me (Terrie@terrieleighton.com) to help you search for your Sparks, Nevada short sale property.
Note: The numbers in this market report are derived from the NNRMLS and are believed to be accurate, but they are not guaranteed!
If you need help buying or selling your home in Sparks, Nevada, finding the right Realtor can help make your real estate process simpler. Knowing what the Sparks, Nevada real estate market is doing from month to month, day to day, is key in being a successful buyer or seller.
Let me help you with your home buying or selling process. Visit my web site at www.servingrenoandsparks.com to find different Northern Nevada neighborhoods that might interest you and help ease your home search. Or, sign up for a free LisitingBook account so you can search Northern Nevada properties at www.sellingrenoandsparks.listingbook.com just like I do. It is free and is updated every 15 minutes.
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Northern Nevada Residential Real Estate Specialist. Selling Reno and Sparks Nevada. Search for homes in the MLS at www.sellingrenoandsparks.listingbook.com.
Proudly Serving the Greater Northern Nevada Areas of Reno, Sparks, Carson City and Lake Tahoe!
Terrie Leighton is a licensed Real Estate agent in Northern Nevada. She has been practicing real estate since 2003. Having spent most of her life in Northern Nevada, Terrie is an agent who you can trust to find you the best place that will suit you and your family.
She brings a wealth of knowledge and expertise about buying and selling real estate in Northern Nevada. It's not the same everywhere, so you need someone you can trust for up-to-date information.
Terrie is always eager and ready to serve you! She is dedicated to promoting excellence in Real Estate consulting by providing her clients with the highest level of professionalism, care and concern.
Here are some of the things she can do for you: If you are in the market to buy a home, you need someone who knows Northern Nevada inside and out! She can work with you to find the right home at the right price for you, including all the neighborhood amenities that matter-not to mention the essential criteria you have for your ideal home.
Selling your Northern Nevada Home!
When it's time to move, you need someone who will advertise your home, show to prospective buyers, negotiate the purchase contract, arrange financing, oversee the inspections, handle all necessary paperwork and supervise the closing. She will take care of everything you need, from start to close.
Terrie will also consult with you on Home Selling Tactics!
Oftentimes buyers don't visualize living in your home the way you do. Terrie can make your home attractive to its ideal audience-which can help you get top dollar. Things like staging the home, making repairs or minor improvements, or even simply painting the walls can be the difference between a home resting on the market and one that's sold fast.
You can start your Northern Nevada real estate search now by visiting Terrie's website, www.servingrenoandsparks.com and start viewing homes for sale in the Washoe County area. Then, call @ 775-846-5424 and schedule an appointment with your Northern Nevada Real Estate Agent, Terrie Leighton today! What are you waiting for!
Northern Nevada Resources
Searching for homes in Reno, Nevada, click here to view listings in Northern Nevada's MLS!
Searching for homes in Sparks, Nevada, click here to view listings in Northern Nevada's MLS!
Searching for homes in Carson City, Nevada, click here to view listings in Northern Nevada's MLS!
Searching for homes in Lake Tahoe, Nevada, click here to view listings in Northern Nevada's MLS!
School Districts: The Washoe County School District operates 92 schools in Northern Nevada. This district includes Reno, Sparks, Incline Village, Wadsworth, Gerlach and Empire. The Washoe County School District is one of the largest Employers in Northern Nevada.
The Douglas County School District services the Lake Tahoe and Carson Valley regions and serves 13 schools. They are the fifth school district in the State of Nevada.
The Lyon County School District services Fernley, Silver Springs, Dayton, Yerington and Smith Valley. This district operates over 15 schools.
For additional school information, just click on the district you are interested in.
To find out more information about a particular area in Northern Nevada, you can visit one of the following counties. The cities of Reno/Sparks are located in Washoe County. You will find Carson Valley and Douglas in Douglas County, Carson City is in the Carson City County and Virginia City is in Storey County. Lyon County services Yerington, Silver Springs, Dayton, Yerington and Smith Valley. Each counties website has a directory where you will find information about local hospitals, fire departments, police departments, demographics and statistics.
Parks and Recreation in Northern Nevada
You can find some of the most beautiful parks in Northern Nevada. The photo to the right is a picture of the Sparks Marina Park. The park is surrounded with walking paths, trees and beaches. It is a great place for a family outing. To find out more about this park and other great parks in the City of Sparks, just click here.
Looking for a list of parks in Reno, Nevada? This link will give you names and addresses of the cities local parks.
Carson City, Nevada is located just 30 minutes south of Reno and is the capitol of Nevada. On your way from Reno to Lake Tahoe you can stop at one of the Carson City's fine parks to relax before your 30 minute drive up to South Lake Tahoe.
I am a proud member of the ActiveRain Real Estate Network. ActiveRain is an on-line community where real estate professionals go to grow their business and share information about their local markets. You can learn more about this network by visiting ActiveRain now.
You can also find great local Sparks, NV real estate information on Localism.com .
Brandon Blackbern wrote:
"Terrie Leighton was UNBELIEVABLE in the success of selling two of my homes and finding me new homes to move too.
Terrie successfully was able to short sale my house and the amount of work she performed was INCREDIBLE!
Terrie's dedication and customer service through the house selling/hunting process is 2nd to none."
"Terrie,
We just want to say thank you for being so patient with us. Finding the right home to downsize into was not easy. We really appreciate the time you spent with us. We love our new home and will gladly recommend you to any of our friends. Thank you so much." Sincerely, Mr. and Mrs. Hansen
"Terrie was such a pleasure to work with. Our transaction went smoothly and we had no problems along the way."
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