by ronbell ->
For those of you that are looking for a home and would like to fix it up, but don’t have the money to do it, there is a great new loan that would enable you to do that. The FHA is offering the 203(k) loan, a great opportunity for the homes that need some TLC.
“Right now, there are plenty of homes on the market in Reno and Sparks, and all of Northern Nevada for that matter, that are extremely great deals but they need a little “love.” Whether it’s an older house that needs some updating, or a house that’s a victim of foreclosure and the previous owner decided to trash the place before they lost it, fixer uppers are prevalent on today’s MLS.
…Read more » » »
Sphere: Related Content
Leave a Comment »
Filed under: LOAN INFORMATION
by ronbell ->
With the new Home Buyer Tax Credit available, it seems that many who may want to take advantage of it have quite a few questions. Please find the article below from the Federal Tax Credit website answering many of the frequently asked questions like who is eligible, how to apply for the credit and if you will receive the credit if you have a home in construction?
…Read more » » »
Sphere: Related Content
Leave a Comment »
Filed under: R.E. TAX ADVANTAGES
by ronbell ->
Please find the below statistics regarding the second-home market from Realtor Magazine. Despite the current market, there has been a demand for second homes.
“Survey shows that second-home buyers tend to be more confident about today’s housing market.
May 2009
Sales of vacation homes dropped 30.8 percent last year, while investment-home sales fell 17.2 percent, according to the 2009 NATIONAL ASSOCIATION OF REALTORS®’ Investment and Vacation Home Buyers Survey. By comparison, sales of primary residences saw a milder drop of 13.2 percent in 2008.
Second homes accounted for 30 percent of all home transactions last year, down from 33 percent in 2007 and 40 percent in 2005—the peak year for home speculation. “We expected vacation-home sales to fall given the impact of a declining economy on discretionary purchases,” says NAR Chief Economist Lawrence Yun. He noted that a steady share of investment-home sales came from buyers who took advantage of deeply discounted prices.
…Read more » » »
Sphere: Related Content
Leave a Comment »
Filed under: 2009 Statistics
by ronbell ->
The Northern Nevada Business Weekly, NNBW featured an article by John Seelmeyer regarding the Carson City market stirring up the building market lately. Recently, the Capital Village subdivision has commenced building an additional couple homes to have on standing inventory after not being in production for about a year now. Additionally, they comment that they are in the same price range as the current foreclosures or REO’s. Below is a link to the article below:
…Read more » » »
Sphere: Related Content
Leave a Comment »
Filed under: LOCAL BUILDERS, LOCAL MARKET
by ronbell ->
The craziness continues as Buyer’s Fever spreads across the Reno Sparks area faster than the swine flu at a Mexican kissing booth. Some areas and price points under 200 Reno bank owned/foreclosure homes are at the highest pandemic rating of 6. …Read more » » »
Sphere: Related Content
1 Comment »
Filed under: LOCAL MARKET
by ronbell ->
Recently, the RGJ, Reno Gazette Journal published an article details the ins and outs of obtaining a good credit score, the importance of the credit score and fixing a bad credit score. Please find all of the details in the below article by Jason Hildago:
” If the foundation of modern-day America could be boiled down to three principles, it would be life, liberty and the pursuit of easy access to credit.Credit in particular has been a vital cog in the growth of the U.S. economic engine, fueling the purchase of goods and services by consumers and providing capital for businesses.But it also can be a double-edged sword.Lax lending standards led to an overheated housing market at the turn of the century, triggering one of the worst economic meltdowns in the country’s history.Ironically, the skyrocketing foreclosures, bankruptcies and unemployment that followed have turned around and damaged the credit of many of the same people who enjoyed easy access to borrowing during the boom years.Nevadans are no exception. …Read more » » »
Sphere: Related Content
Leave a Comment »
Filed under: CREDIT/FICO
by ronbell ->
It seems as if a promising future is on the horizon for buyers and the current owners of high-end properties. At the latter part of last year, the jumbo loans were no longer available from banks. A jumbo loan is a mortgage that the government will not buy or guarantee (over $417,000, depending on the location of the property). Bank of America recently promoted a new 30-year fixed-rate jumbo loan with an interest rate around 5.78% and fees at 1% of loan amount. Although these loans are more expensive for the bank to keep if they do not find a non-government investor, some believe that more banks will soon follow Bank of America’s trend.
Sphere: Related Content
Leave a Comment »
Filed under: LOCAL MARKET, Mortgages
by ronbell ->
Many people may wonder what a short sale exactly is. Select Foreclosure Source Magazine answers this question:
…Read more » » »
Leave a Comment »
Filed under: SHORT SALES
by ronbell ->
Mortgage-backed securities began back in the 1980’s allowing companies to purchase several mortgages at one time, rather than as individual transactions. Today, people are unable to adequately make their mortgage payments and the companies who had invested in the mortgage are not receiving a steady payment flow, making the investment far less solvent. The article below from the Tahoe Bonanza newspaper gives a more detailed account the MBS’s and what the future may hold for them:
…Read more » » »
Sphere: Related Content
Leave a Comment »
Filed under: LOCAL MARKET, Mortgages
by ronbell ->
There has been a shift of wealth in America over the past couple decades. The gaps between the poor, the middle class and the wealthy are growing larger and taxes are the current solutions on the table now. Jeff Quinn of the Tahoe Bonanza Newspaper suggests the following three: The first is the McCauley-Rooker Wealth Tax and Oceans Preservation Act, which indicates that a democratic society does not have a large concentration of private wealth. The wealth tax suggests taxing, “55 percent on the value of your taxable estate on or after January 1, 2010.” Finally, the Hasta La Vista tax offers a tax of 37 to 54 percent and 35 percent on married people whose income is greater than $500,000. Please read the entire article below to find more on these wealth taxes:
…Read more » » »
Sphere: Related Content
Leave a Comment »
Filed under: LOCAL MARKET
