Terrie Leighton , Realtor Northern Nevada Real Estate

Northern Nevada Neighborhood Stabilization Program!

The Reno Housing Authority (RHA) has begun spending $4.7 million to help stabilize a few Northern Nevada neighborhoods. The neighborhood stabilization program (NSP) was set up by the government with the intent to buy foreclosed homes in some very distressed areas to fix them up and sell them. The $4.7 million is part of a NSP grant that was awarded to Northern Nevada earlier this year.

Neighborhoods that have an abudndance of foreclosed homes will see home prices continue to decrease and the area will continue to deteriorate. This program is designed to slow this trend and stabilize the neighborhood.

By buying foreclosed homes, the RHA plans fix them up and re-sale them at market value and keep the homes values up, or at least stabilize prices so they do not continue to drop. Home owners who currently live in these areas should feel a sigh of relief, even if it is a small one, that there is something being done to help rebuild their neighborhood.

The Reno Housing Authority plans to buy 44 homes with grant money it received from the government. The neighborhoods that have been hit the hardest with foreclosures will receive assistance first. The RHA will purchase and sell these homes to qualified buyers. You must fill out an application to purchase one of these homes.

The three areas in Washoe County that the RHA plans to assist by purchasing foreclosures are:

~ Stead, the portion between Interstate 395 and Lear Blvd. Click here for map.

~ Sun Valley, unincorporated area of Washoe County. Click here for map.

~ East Sparks, the portion by Sparks Blvd. to the East, Queen Way to the North, and the city boundaries on the west and south. Click here for map.

Homes offered under the Neighborhood Stabilization Program will be offered for sale on a first come, first serve basis to home buyers who meet the qualification and who have completed an application to purchase. To see if you meet the qualifications for purchase one of the RHA homes, visit the Reno Housing Authorities website for a complete list of details.

If you do not qualify to purchase on of the homes, there may be other opportunities available to you. Feel free to contact me, Terrie Leighton, at 775-824-5424 or visit my website, Serving Reno and Sparks to see homes available for sale in the Northern Nevada area.

The Northern Nevada Neighborhood Stabilization Program is now making a difference you three Northern Nevada Neighborhoods!

Here is your Nevada Wolf Pack Football Home Schedule for 2009!

Friday, September 25 ~ Missouri ~ 6:05p.m. ~ First home game of the season! ~ ESPN Radio 630 AM

Saturday, October 03 ~ UNLV ~ 1:05p.m. ~ ESPN Radio 630 AM

Friday, October 09 ~ Louisiana Tech ~ 6:05p.m. ~ ESPN Radio 630 AM

Saturday, October 24 ~ Idaho ~ 1:05p.m. ~ ESPN Radio 630 AM

Saturday, October 31 ~ Hawaii ~1:05p.m. ~ ESPN Radio 630 AM

Saturday, November 14 ~ Fresno State 1:05p.m. ~ ESPN Radio 630 AM

Here are a few things you should know if you plan to attend a Wolf Back Football Game:

Gates open two hours prior to kick-off. There is no re-entry to Mackay Stadium once you are inside!

Tickets ~ You can purchase tickets at the following locations:

1) Lawler Events Center Ticket Office ~ 1664 N. Virginia Street ~ 775-784-465 ~ Monday - Friday 10:00a.m. to 5:00p.m. or game days starting at 10:00a.m.

2)Legacy Hall Ticket Office ~ UNR Campus ~ Monday - Friday 10:00a.m. to 5:00p.m.

3) Via phone 775-348-PACK(7225), option #1 for single-game tickets or option #3 for season tickets.

4) Via the Internet. See Nevada Wolf Pack 24 hours a day, 7 day a week.

Parking ~ General parking lots (free and paid areas) are available to the north, south and east of Mackay Stadium.

General Paid Parkingwill be available in the West Stadium Parking Complex for $100 for the season and in the South Lawlor Parking Lot for $50 for the season or $10 per game. Please call or visit the Wolf Pack Ticket Office to purchase a parking pass or get more information.

Donor parkingis a benefit for contributors to the Pack Educational Fund. Donors at the $250 - $1,499 level qualify for Area 1 parking permits. Donors at the $1,500 level and above qualify for Area 2 parking permits. One permit is allocated for every four season tickets held. For more information on donor parking and the Pack Educational Fund contact Mark Urick at (775) 682-6972.

Parking for disabled patrons is available on the first floor in the West Stadium Parking Complex and within close proximity to the elevators on the remaining five floors of that garage. These locations are all very close to the disabled seating areas on the West Concourse and South Grand Stands of Mackay Stadium.

Fan Behavior ~ OK folks, you most behave if you go to a UNR Wolf Back footballgame! Nevada has a "zero tolerance" program established for Wolf Pack fans. Those who behave inappropriately will be asked to leave the football game. Fans who appear intoxicated will be denied access to Mackay Stadium. Alcohol will not be allowed into the stadium or consumed while standing in line.

If you have any other questions about the Nevada Wolf Pack Football Schedule or 2009 football season, visit www.nevadawolfpack.com.

Sparks, Nevada Foreclosure Report September 2009

Currently there are 100 foreclosed single family homes listed for sale in Sparks, Nevada. At least 57 have offers and are pending final approval. That leaves only 43 available to purchase.

The highest foreclosure is listed for $519,000, and has been on the market for over 128 days. This home is located in area 183, in the neighborhood of Wingfield Springs.

The lowest foreclosure is listed for $59,400, and has been on the market for 117 days. This home is located in area 180, central Sparks. This home was built in 1907.

The average price for a single family foreclosed home is selling for around $169,457 and is staying active on the market for less than 30 days.

There are 14 homes listed for sale as a foreclosure priced between $200,000 and $519,000. That leaves 29 homes priced under $200,000.

The homes listed under $200,000 have been receiving multiple offers within days of being listed. The average amount of days on the market for this price range is 22. The average sales price appears to be $135,734.

Are you interested in buying a foreclosed home in Northern Nevada? If so, there are some really important things to keep in mind priot to making an offer on one of these homes.

Here are a few things you should consider when buying a foreclosed property:

1) Most foreclosed properties that are listed under $200,000 are receiving more than one offer. The bank that owns this property will sometimes wait up to 7 days before even considering any offers.

2) You must be pre-qualified. If you are a cash buyer, you must provide proof of funds with your offer.

3) After waiting several days for your offer to be reviewed, you may be required to submit another, higher offer if the banks requests.

4) The property is sold as is. No repairs will be done. It will be up to you to pay for any inspections, appraisals or warranties.

Once you have prepared yourself for the process the is involved in buying a foreclosure it is time to start looking. If you need help looking, please feel free to contact me to help you find the right property for you.

Being prepared and educated can help save you a lot of heartache and disappointment when it comes to buying or foreclosed property. Below, I have provided some additional reading that might help you decide if buying a foreclosure is right for you.

Things you need to know when buying a foreclosure. By Sybil Campbell

Buying a Foreclosure: Some questions to Ask. By Juan C. Ramos

Buying a Foreclosed Home or Potential Foreclosure Property. By Bill Gassett

Once you decide that buying a foreclosed property is right for you, let me help you find one that is right for you.

Feel free to call me at 775-846-5424.

Sparks Nevada Foreclosure Report ~ Buying Foreclosures in Sparks, Nevada

Market Report for Spanish Springs West August 2009

The Spanish Springs Valley sits just north of central Sparks, Nevada and is found along Pyramid Highway. It is a community located in Washoe County. This market reports includes single family residence homes located in West Spanish Springs. The homes in West Spanish Springs are located on the west side of the Pyramid Highway.

Here are your market statistics for homes listed and sold during August, 2009 in Spanish Springs West, Sparks Nevada, 89436

Sold Activity:

~There were 19 single family homes sold in this area during August 2009.

~ Average days on the market were 92 days.

~ The average list price was $178,055.

~ The average sold price was $176,156.

~The average square footage of a home sold was approximately 1600 square feet.

~Of the 19 homes sold during August 2009, 8 were bank owned and 5 were short sale properties.

Current Listing Activity:

~Currently, there are 94 single family homes listed for sale in Spanish Springs West area. The average list price for a single family home for sale is $232,106.

~ Of the 94 homes currently listed, 60 are short sale listings and 15 are bank owned properties. The average list price for a short sale listing is $240,189. The average list price for a bank owned property is $206,551.

~ There are 62 homes pending in the area of West Spanish Springs.

~There are 13 active homes listed with no special conditions, i.e. bank owned or short sale. The average list price in this category is $199,061.

~ The lowest home listed in West Spanish Springs, at the time of this report, is $130,000 and the highest listed home is $326,900.

Summary:

Sold = 19 Single Family Homes/Average Sold Price $176,156.

Active = 94 Single Family Homes/Average List Price $232,106.

Existing homes sales in Sparks, Nevada continue to post positive gains but the average price of homes sold are dropping as foreclosures and short sales maintain a strong influence on the market.

If you are a first time home buyer, a buyer who has not purchased a home in the last three years, you may still have time to qualify to the $8,000 First Time Home Buyers Tax Credit. With homes selling below $200,000, you may also qualify for an FHA mortgage and benefit from low interest rates.

If you are interested in buying or selling a home in Sparks, Nevada, feel free to call me at 775-846-5424 or email me at Terrieleighton@hotmail.com. You can also visit Serving Reno and Sparks to see a complete list of homes available for sale.

Sparks Nevada Market Report Spanish Springs West, August 2009

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Search the MLS for Properties here in Northern Nevada

Read the Northern Nevada Real Estate Blog

Sparks Nevada Market Report Spanish Springs East July 2009

This Spanish Springs Market Report is brought to you by Terrie Leighton, Ferrari-Lund Real Estate. The report is for single family detached homes and may not include all sales activity in the area. This report or any part of it may not be used without permission.

Disclaimer: Data based on information from the Northern Nevada Multiple Listing Service (NNMLS). The NNMLS does not guarantee nor is any way responsible for its accuracy. Information in this post is deemed reliable but is not guaranteed.

Sparks Nevada Market Report, August 2009, Spanish Springs East, Sparks, Nevada

This market report is for single family homes located in Spanish Springs East area of Sparks, Nevada. Homes located in Spanish Springs East, lie in the Wingfield Springs development. Developers started building homes in Wingfield Springs in the late 1990's. The homes in this market report were built between 1999 and 2005.

This report includes homes listed for sale and sold in area 183 in Sparks, Nevada 89436

Here are your market statistics for homes listed and sold during August, 2009 in Spanish Springs East, Sparks Nevada, 89436

Sold Activity:

~There were 32 single family homes soldin Wingfield Springs during August 2009.

~ Average days on the market were 95 days.

~ The average list price was $242,448.

~ The average sold price was $238,581.

~The average square footage of a home sold was approximately 2650 square feet.

~Of the 32 homes sold during August 2009, 11 were bank owned and 11 were short sale properties.

Current Listing Activity:

~There are 221 single family homes listed for sale in Wingfield Springs, Sparks Nevada. The average list price is $253,101.

~ Of the 221 homes currently listed, 128 are short sale listings and 22 are bank owned. The average list price for a short sale listing is $240,189. The average list price for a bank owned property is $233,154.

~ There are 84 homes pending in Wingfield Springs.

~There are 113 active homes listed with no special conditions, i.e. bank owned or short sale. The average list price in this category is $346,894.

~ The lowest home listed in Wingfield Springs, at the time of this report, is $129,000 and the highest listed home is $1,195,000.

Summary:

Sold = 32 Single Family Homes/Average Sold Price $242,448

Active = 221 Single Family Homes/Average List Price $252,101

Existing homes sales in Sparks, Nevada continue to post positive gains but the average price of homes sold are dropping as foreclosures and short sales maintain a strong influence on the market.

If you are a first time home buyer, a buyer who has not purchased a home in the last three years, you may still have time to qualify to the $8,000 First Time Home Buyers Tax Credit. With homes selling below $200,000, you may also qualify for an FHA mortgage and benefit from low interest rates.

If you are interested in buying or selling a home in Sparks, Nevada, feel free to call me at 775-846-5424 or email me at Terrieleighton@hotmail.com. You can also visit Serving Reno and Sparks to see a complete list of homes available for sale.

Sparks Nevada Market Report Spanish Springs East, August 2009

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Posted by Terrie Leighton. Terrie is a licensed real estate specialist in Northern Nevada. The information in this post is believed to be accurate.

Search the MLS for Properties here in Northern Nevada

Read the Northern Nevada Real Estate Blog

Sparks Nevada Market Report Spanish Springs East July 2009