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
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Certified Default Resolution Specialist (CDRS)
Short Sales & Foreclosure Resource ~ Certified (SFR)
Ferrari-Lund Real Estate
775.846.5424
The information in Terrie Leighton's Blog are believed to be accurate and true but are not guaranteed! Terrie Leighton is a licensed real estate agent with Ferrari-Lund Real Estate serving the areas in Reno and Sparks Nevada.
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