Northern Nevada Real Estate Blog: Nevada: Sparks

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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Move out house cleaning service in Reno / Sparks Nevada

Who are you going to call to clean your home when it is time to move out of your Northern Nevada home / condo / apartment?

Call "Cleaning with a "T"  when you are ready to move!

775.771.1360

Are you getting ready to move out of your Reno or Sparks Nevada homeand would like someone to clean  your home after you leave? I have just the right person to call for all your move out cleaning needs.

Tanya with "Cleaning to a "T""is the person to call when you are ready to move! She lives in Reno and is ready when you are to clean your entire house for you. Tanya will clean you bathroom, kitchen, bedrooms, laundry room, living room and family room. Have a specific house cleaning requests? She is available to take your cleaning requests and talk about how she can best serve your house cleaning moving out needs.

Tanya is Licensed and Insured here in Northern Nevada. She is a professional, excellent house cleaner and is looking for dirty homes in Washoe County. Locally  owned and operated.

Her fees are based on the home so call her today for a quote.

Her services include, but are not limited to: all kitchen cleaning~ oven, refrigerator, stove, microwave, counters, floors. Bathroom cleaning ~ toilets, sinks, showers. All rooms ~ vacuuming, dusting, wall dusting, base board cleaning and more. Call Tanya at 775.771.1360.

Basic house cleaning is also available. Weekly, bi-weekly or monthly. Call for more information on how Tanya can help ease some of the stress from your life by doing your house cleaning for you.

Cleaning with a "T" ease the stress of moving. She can clean your home after you move out.

Move Out Cleaning Service in Reno / Sparks Nevada

Home Buyers and Sellers in Reno / Sparks Nevada: Your questions about what will happen if you file bankruptcy, loose your home thru a foreclosure or a short sale are answered below.

The 7th grade Mendive Middle School boys basketball team went 10 - 0 this season.

I try not to brag to much in my blog about my children but I am so proud of my son, Alec, and his 7th grade basketball team for having such a great, fun and successful basketball season.

These boys worked extremely hard and finished their season winning all 10 games. They played hard but more importantly, they always showed great sportsmanship and were always respectful of each other and the players on the other teams.

My son Alec, is the cutie  young man pictured in the bottom left of this photo (for those of you interested). Great job Alec!

Congratulations to all the Mendive Magic basketball players and a big "Thank you" to the three coaches, Ray Charles (Not pictured), Hillary Talotti and Mr. Nemms, who did a wonderful job teaching these young men how to play, act and show respect during this season at Mendive Middle School!!

Mendive Middle School 7th Grade Boys Basketball Team Wins Big In Sparks Nevada

Nevada Homeowners can learn ways to avoid foreclosure at Housing Workshop

I wanted to pass along the following information about a workshop that is coming to our Reno / Sparks Nevada area this week that will address ways to help homeowners who are facing financial hardship.

Jeni Temen is a certified housing counselor for the HUD approved NID agency. Jeni will be presenting this workshop.  This counseling agency is set up by the government to help curb foreclosures here in Nevada.

The counseling services are free. However,  now enough homeowners reach out for help and this gives the government the impression that these housing services are not needed and are at risk of loosing future funding.

If you feel you need to learn more about ways to avoid a foreclosure of your home, you may want to attend this free workshop.

Here are a few things you can expert to learn:

Know your options!

Housing Workshop, free of charge

NID  - Housing Counseling Agency

A HUD Approved Organization

All counseling is free of charge

Who should register:

Anyone with a mortgage due to adjust shortly

Anyone who has  reduced income or unemployment

Anyone who is already in default (can't pay the mortgage any longer)

Dates of workshop:

Thur Feb 18^th,  Fri  Feb19^th or Sat Feb 20^th

Space Limited to 20 people, registration a must.

Please call 322-5695 to register and receive a package, or register by e-mail  help@teamworknevada.org

Nevada Homeowners can learn ways to avoid foreclosure at Housing Workshop

Happy Valentine's Day from Olive & Lolo's Clothing Boutique!

Do you know what you are getting your sweetheart for Valentine's Day this year?  Olive & Lolo's in Sparks, Nevada would like to help you find that perfect gift.

Shop for unique, fashionable, elite items for him or her at Olive & Lolo's "Love is in the Air"Jewelry Trunk Show this Thursday, February 11 from 4pm to 9pm. Enjoy wine and appetizers while you shop.

Check out the fun flyer for this exciting event happening at the Vista Valley Shops in Sparks, Nevada:

Olive & Lolo's Clothing Boutique is one of the area's favorite local places to shop! It is locally owned and operated by Cricket Dundas of Sparks, Nevada. When Cricket is not working you can find friends and students working and helping guests pick out just the right outfit or gift. Olive & Lolo's is truly a hands on, friendly shop!

This unique boutique has a varietyof great things for just about any fashion minded person. You can find purses, jewelry, shoes, jeans, hats and many more sophisticated, fun, funky items at this special place!

Where can you find Olive & Lolo's Clothing Boutique?

4840 Vista BLVD # 106, Sparks, Nevada 89436 ~ 775-626-1166

Happy Valentine's Day from Olive & Lolo's Clothing Boutique!

Do you know what you are getting your sweetheart for Valentine's Day this year?  Olive & Lolo's in Sparks, Nevada would like to help you find that perfect gift.

Love is in the Air at Olive & Lolo's Clothing Boutique in Sparks Nevada

Sparks Nevada Market Statistics for January 2010

Here are your market statistics for single family homes sold in Sparks, Nevada for January 2010:

Sold =  104 Single Family Residences

Average sold price = $182,188

Days on the Market = 126

There were 104 single family homes sold in Sparks during the month of January 2010.

 Out of the 104 homes that were sold, 36 were bank owned / foreclosure properties. These bank owned properties sold for an average price of $168,105. The average time the foreclosed properties in Sparks Nevada spent on the market was 74 days.

There were 36 short sale properties sold during January 2010.

The average price of a short sale was $178,730. The average amount of time a short sale property spent listed for sale on the Sparks the market 157 days. 

Current / Active listings in the Northern Nevada Regional Multiple Lisitng Service:

Active Single Family Homes =  373

Average List Price = $233,584

Looking for a bank owned / foreclosure to purchase? Currentl,y Sparks has 35 bank owned properties available for sale. The average list price is $156,280.

Looking to buy a short sale property? Currently there are 188 single family short sale properties listed for sale in Sparks Nevada. The average list price is $192,473.

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.

 Note: The numbers in this market report are derived from the NNRMLS and are believed to be accurate, but they are not guaranteed!

Animal Rescue Site Needs Your Help

I received this email request today from a good friend who happens to be an animal lover like myself. Yes, it is a forward to forward to your contacts. But it is for a good cause. The Animal Rescue Siterelies on people like you and me to help feed homeless, abused animals in shelters all over the world.

The Animal Rescue Site focuses the power of the Internet on a specific need - providing food for some of the eight million companion animals relinquished to shelters in the U.S. every year. But our hopes also extend far beyond U.S. borders. Animals around the world need our help, as evidenced by the recent earthquake in Haiti.

 This is the request:

Please ask ten friends to each ask a further ten today! 

The Animal Rescue Site is having trouble getting  enough people to click on it daily so they can meet their quota of  getting FREE FOOD donated every day to abused and neglected animals.  It takes less than a minute (about 15 seconds) to go to their site  and click on the purple box 'fund food for animals for free'.

This  doesn't cost you a thing. 

Their corporate  sponsors/advertisers use the number of daily visits to donate food  to abandoned/neglected animals in exchange for advertising. Here's the web site! 
http://www.theanimalrescuesite.com/ 

Thank you for taking the time to vote and share with your friends and families.

Animal Rescue Site Needs Your Help

The Start of FHA 2010 Changes for Investors

~  90 Day Seller Acquisition Rule Change ~

The following is an explanation of the changes that are taking place in the FHA mortgage world. My good friend Nick Parino with New American Mortgage helped with the following explanations that should help answer your questions.

For one year until 2/1/2011, FHA is removing the 90-day seller acquisition requirement on properties.  This move is to keep FHA buyers' purchase offers from being denied due to the seller's brief period of ownership.  It may also help the sellers from the expense of holding the property and potential vandalism associated with allowing the property to sit vacant for 90 days.

This takes effect 2-1-10 for the next year.  Lenders will be required to ensure that the property is not part of a ‘flipping' scheme which sales the property at inflated price to unsuspecting borrowers.  If the property has had change of ownership within 90 days of the FHA borrower's purchase, the transaction must meet the following requirements.

1.       Transactions must be arms-length, with no identity of interest between the borrower, seller, or  other party in the transaction.

2.       When sales price of the property is 20% more than the seller's acquisition costs, the lender must:

            a.       Provide supporting documentation

            b.       Order an inspection and provide it to buyer

3.       This 90 day exception is limited to forward mortgages, and does not apply to Home Equity Conversion Mortgage purchase program.

Up-Front Mortgage Insurance Premium (UFMIP) Increase

As expected, HUD will increase the cost of their UFMIP on purchase and all refinance transactions from 1.75% to 2.25% effective on case numbers order as of 4-5-2010 per Mortgagee Letter 2010-2.  Some of the UFMIP increase to the annual MIP will shift to the annual MIP which is paid monthly over the life of the loan.  This increase will allow HUD to increase their capital reserves requirements to support the loans they have insured. 

This change will increase the payment on a $200,000 loan about $6 per month. 

FICO Requirement Changes

FHA is requiring the borrower to have a FICO score of 580 to allow the 3.5% down payment requirement.  If they have less than a 580 FICO, the borrower is required to have 10% down payment from their own funds.  This may not be a big issue in our industry, as most lenders were not allowing a FICO less than 620

Reduction for Allowable Seller Concessions

 To reduce the level of exposure to FHA with sellers inflating sales price to accommodate high seller concessions, the 6% seller concessions has been reduced to 3%.  This is scheduled to go into effect this summer.

  If you are looking for an investment property here in Northern Nevada, now is a good time to start your home search. I can help you find  a home or several homes that meet your criteria. If you are looking for a lender in the Reno and Sparks Nevada areas, Nick Parino with New American Mortgageis someone with a lot of experience that can help you decide if investing is right for you.

The Start of FHA Changes for Investors ~ Northern Nevada Real Estate Talk

Here are your market statistics for single family homes in Sparks, Nevada for December 2009:

Sold = 143 Single Family Homes

Average Sold Price = $175,000

There were 143 single family homes sold in December 2009. During the month of December 2009, there were 144 single family homes sold and in November 2009, 142 single family homes were sold.

The average sold price in December  was $175,000, down just $2,000 from November. The average sold price of a single family home during October was $187,000. The average number of days these homes were on the market was 117 days.

Bank Owned Sold Properties = 52

Average Bank Owned Sold Price = $162,000

Out of the 143 single family homes that sold during December 2009, 52 were bank owned and sold for an average price of $162,000 while spending an average of just 75 days on the market.

Short Sale Properties Sold = 44

Average Sold Short Sale Price = $165,5000

There were 44 short sale properties sold (homes that required third party approvals) during December. The average sold price of a short sale property was $165,500 and spent an average of 167 days listed in the Northern Nevada Regional Multiple Listing Service.   The average sold price of a short sale during the month of November 2009 was $170,127.

Out of the 143 single family homes that were sold in December 2009, only 47 were sold without special conditions. The other 96 homes sold were either bank owned or required third party approval. These numbers show us the current real estate market in Sparks, Nevada are still being influenced by these special conditions. As long as this happens, I believe we will continue to see a decline in the home prices of single family homes.

Currently Listed = 775 Single Family Homes in Sparks Nevada

Currently Available = 363

Average List Price = $189,000

If you are looking for a home in Sparks, Nevada, currently we have 775 single family homes listed for sale. Keep in mind  only 363 are available and active. All other active  single family listings are pending short sale approval or loan approval.

If you are looking for a bank owned property or a foreclosed property in Sparks, Nevada, we have 40 active single family bank owned properties with an average list price of $154,9000.

If you are looking for a short sale property, one that requires a third party approval and will not close quickly, you will find at least 182 currently listed for sale in the Northern Nevada Regional MLS. The average Price of one these properties is $170,000.

Please remember the numbers in this market report are derived from the NNRMLS and are believed to be accurate, but they are not guaranteed!

Sparks Nevada Market Report For December 2009