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Fannie Mae Now Accepting Online Offers for REO's

Reno/Sparks Fernley Homes and Real Estate

Reno/Sparks and Fernley Homes and Real Estate News.

Fannie Mae announced Tuesday that is has expanded its online system to accept purchase offers for all its REO's listed for sale.

Real estate agents will now submit offers online on behalf of buyer clients, receive receipt confirmation, and track the status of submitted offers through the HomePath.com website. HomePath is the GSE's REO disposition operation.

In Novelmber 2010, Fannie Mae launched the HomePath Online Offers pilot in Orlando, Florida; San Diego, California; and Detroit, Michigan. Active Data Technologies, Inc., the developer of the offer platform, commented just five months after the launch that the technology was seeing positive results in these three test markets.

Now the online Offers feature is available for all FannieMae-owned properties across the nation through HomePath.com.

The online platform will make it easier to sell properties to owner occupants, which is a major factor in helping to stabilize communities across the nation.

Real estate professionals representing buyers are able to connect directly with Fannie Mae's listing agents through the HomePath website. The buyer's agent can also find information on the site regarding financing and incentive options offered through HomePath.

If you are interested in finding out more about HomePath homes in Reno/Sparks and Fernley call Sandra. Sandra is a real estate professional registered to assist buyers with HomePath homes.

I am Sandra Mathewson, a full-time Realtor working both as a listing agent and a buyer's agent. I love using the internet to meet people and keep in touch with friends and clients. I write this blog to show you why Reno, Sparks and Fernley real estate is truly something to be desired.

Whether you are considering buying or selling, you can visit me at my Reno, Sparks, Fernley homes for sale website. You will find my website as your best online source of information. How is the market doing? I'll keep you posted with the most current MLS reports. You can also search for homes for sale in Reno NV (including Sparks, Fernley and surrounding areas). Read about the communities, events and things to do around Reno NV in this great Northern Nevada Lifestyle.

Posted by Sandra Mathewson, CRS ABR GRI SFR CDPE RE/MAX Premier Properties Northern NV on 02/10/2012 12:22 AM

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Reno/Sparks Homes and Real Estate Market Report December 2011

Reno/Sparks Homes and Real Estate

Summary

December home sales at 524 are the highest home sales for a December in history. This number outpaces December 2010 sales by 8% and is up 6.1% from November. Year-end sales for 2011 were the second highest in the history of the MLS. We are optimistic that these are early and positive signs of a move toward recovery.

Reno/Sparks Homes Median Sales Price

December 2011 median price was up 3.9% to $155,400 compared to $149,506 in November 2011.
For the past two months we have seen moderate increases in median sales price. It is too early to call it a trend, but it is positive to see the modest price increases after five months of bottoming.
Median price is defined as the mid-point, where, for the time period identified, the price for one-half of the sales are higher and one-half are lower.

Reno/Sparks Price per Square Foot Solds

Price per square foot is at $88.73.
Price per square foot by area groups, as provided in the Detailed Report, is a good way to compare similar homes for current value.

Reno/Sparks Homes Sold

December ended the month with 524 sold transactions, up 6.1% from the prior month.
Sales are up 8% from the same period last year.
Total sales for 2011 are the second highest in history and off just 4% from 2005, which is defined as the peak of the market.

Average Days on Market

The average days on market are 148 days, up 1.4% from November 2011.

Day on Market (DOM) by Special Conditions

Short sales continue to influence the average days on market at 202 DOM.
Properties with no special conditions 137 DOM and Other had 173 DOM.
REO properties average days on market remain stable at 102.

Reno/Sparks New Listings

425 new listings were taken in December compared to 502 in November, a 15.3% decrease and a 12.2% decrease from December 2010.
Distressed New Listings by Special Conditions
67% of new December listings were distressed - 33% (140) Short Sales; 34% (145) REO; No special conditions 31% (133) and Other less than 3% (7).

Status of Pending

Active Pending - Short Sales represent 61.6% of the total active pendings; Active Pending Loan equals 17.1%; Pending No-show represents 16.7%; Active Pending call 4.2%; and Active Pending House less than 1%.

Reno/Sparks Homes Supply of Inventory

Historical Months Supply of Inventory shows that December MSI is down to 5.1 months compared to November 2011 at 6.2 and down 24% from December 2010.
The National Association of REALTORS® describes a balanced market as between 5 and 7 months supply.
Unsold inventory includes Active Pendings. This method of reporting months supply of inventory follows the industry standard of including all pending sales remaining in active status in the active inventory.

Conclusion

Homes sales have been at historic or near historic levels throughout 2011. The big news is that 2011 total home sales is the second highest performing year, off only 4% from 2005 which is described as the peak. Year end 2011 homes sales (5,899) numbers are up 10% over 2010 homes sales (5,351). Beginning in 2008 year end home sales numbers have consistently out-performed the previous year's sales.
Washoe County reported an 11.6% unemploymnet rate for November the lowest rate reported since May 2009. Despite the unemployment rates, the high volume of sales reported this year shows that qualified buyers and investors are taking advantage of affordable prices and record low interest rates.
Interest rates reached another new low of 3.96% in December.
December's median price of %155,400 was up 3.9% from November. This is the second month we have seen modest increases in median sales price. It's too early to call it a trend; but after five months of bottoming, it is a positive sign. Sales at under $250-,000 represented 84% of the total sales for the month. With this trend, it's understandable why median price has remained at an affordable level.
Lower inventory is a signal that price declines may be coming to an end and a sign of pent up demand.
We are optimistic that these are early and positive signs of a move toward recovery.

To read the complete Reno/Sparks Homes and Real Estate Market Report December 2011 complete with charts, graphs and 5 year history.

To read Reno/Sparks Homes and Real Estate Market Report November 2011 and previous months and years.

Report courtesy of Reno/Sparks Association of REALTORS® with data compiled from NNRMLS.

Posted by Sandra Mathewson, CRS ABR GRI SFR CDPE RE/MAX Premier Properties Northern NV on 01/29/2012 12:23 PM

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Fernley Homes and Real Estate Market Report December 2011

Fernley Homes and Real Estate

Photo by Jerry Mansker

Summary

December home sales at 47 are the fourth highest homes sales for a December in history. This number outpaces December 2010 sales by 47% and is up 27% from November 2011. Year-end sales for 2011 were the fourth highest in the history of the MLS. We are optimistic that these are early and positive signs of a move toward recovery.

Fernley Homes Median Sales Price

December 2011 median price increased 7.3% to $90,000 compared to $83,859 in November 2011.
The median price is down 8% from the prior December.
The median price is defined as the mid-point, where, for the time period identified, the price for one-half of the sales are higher and one-half are lower.

Fernley Price per Square Foot Solds

Price per square foot is at $55.97.

Fernley Homes Sold

December closed the month with 47 sold transactions up 27% from the prior month, and up 47% from December 2010.
Fernley sales have been relatively stable for the past ten months.
Total sales for 2011 (505) are the fourth highest in history and up 6% from 2010 (479) year-end sales.

Fernley Homes Average Days on Market

The average days on market are up to 146 days, an increase of 47% from the prior month.

Days on Market (DOM) by Special Conditions

Short sales average days on market are up to 206 DOM.
Properties with no special conditions and REO are comparatively close at 134 and 107 DOM respectively.
Properties in the Other category had an average DOM of 182.

Fernely New Listings

31 new listings were taken in December down 32.6% from November, and a 27.9% decrease from the prior year.
New listings have declined from a high in 2011 of 75 in August.

Distressed New Listings by Special Conditions

The market remains dominated by distressed new listings representing 78% of the market, up from November 2011 (67%).
REO listings represented 39% of the market; Short Sales 39%; No special conditions 22% and Other 0%.

Status of Pending

Active Pending - Short Sales represents 54% of the total active pendings; Pending No-show represents 29.2%; Active Pending Loan equals 8%; Active Pending call 8.8% and Active Pending House 0%.

Absorption Months Supply of Inventory (Unsold Inventory divided by Sales per Month)

As of December 31 there was 4.1 months of inventory based on the December sales rate.
The National Association of REALTORS® describes a balanced market as between 5 and 7 months supply.
Unsold inventory includes Active Pendings. This method of reporting month's supply of inventory follows the industry standard of including all pending sales in the active inventory.

Conclusion

Total sales for 2011 (505) are the fourth highest in history and up 6% from 2010 (479) year-end sales.
December's median price of $90,000 was up 7.3% from November. This the second month we have seen modest increases in median sales price. It's too early to call it a trend; but after eight out of twelve months showing a bottoming, it's a positive sign.
Despite the unemployment rates, the high volume of sales reported this year shows that qualified buyers and investors are taking advantage of affordable prices and record low interest rates.
Interest rates reachedf another new low of 3.96% in December.
Lower inventory is a signal that price declines may be coming to an end and a sign of pent up demand.
We are optimistic that these are early and positive signs of the move toward recovery.

To read the complete Fernley Market Reports December 2011

To read Fernley Homes and Real Estate Market Report November 2011 and previous months and years.

Report courtesy of Reno/Sparks Association of REALTORS® with dat sources from NNRMLS.

Posted by Sandra Mathewson, CRS ABR GRI SFR CDPE RE/MAX Premier Properties Northern NV on 01/28/2012 11:30 PM

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Investors With Cash Place Downward Pressure on Home Prices

Homebuyers with enough cash in hand to cover their offer price in full are able to bid significantly lower on properties and according to a new industry report released Monday, because they offer a shorter and more reliable closing timeline without the impediments of a mortgage, appaisal, underwriting time, they often win out with that lower bid.

A study found that this low-bid-winning dynamic is particularly true for distressed properties because mortgage servicers selling foreclosed or REO homes generally prefer transactions that can close within 30 days.

The total share of distressed properties in the housing market in December, as represented by the HousingPulse Distressed Property Index (DPI), continued at a high level of 47.2 percent, based on a three month moving average. December marked the 24th month in a row that the DPI has been above 40 percent.

Cash buyers, many of them investors, are putting downward pressure on home prices across the board, according to the HousingPulse Survey.

In December 2011, date collected for the survey shows that the overall proportion of cash buyers in the housing market surged to a record 33.2% up from 29.6% a year earlier.

Among investor homebuyers, however, the proportion of cash buyers was much higher, with 74 percent of investors laying down the money to purchase homes outright last month.

The latest survey results indicate investors accounted for 22.8percent of all home purchase transactions in December 2011, up from 22.2 percent a month earlier.

Despite their relatively small share among homebuyers, investors have an outsize effect on home values because their bids bring down market prices, according to the survey report.

While investor bids may not be the first offers accepted, the report notes that they often end up winning properties after other homebuyers are eliminated because of mortgage approval or timeline problems.

Investors usually offer 10%-20% below list up to a price of $250K. First time homebuyers are offering close to list price as are current homeowners. Investors want a 2-4 week close of escrow. Financing buyers end up with 6-8 weeks plus.

In competitive offer situations, cash offers prevail for the most part because of the common knowledge of lender closing issues. Cash sales can close in 21-30 days. FHA sales close 45 to 60 days.

Article by Carrie Bay DSNEWS.com

Posted by Sandra Mathewson, CRS ABR GRI SFR CDPE RE/MAX Premier Properties Northern NV on 01/25/2012 11:22 PM

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Google Maps Adds Public Safety Alerts to Search Results

Google Maps Adds Public Safety Alerts to Search Results Google has launched a new alert system called Google Public Alerts today that helps you keep track of severe weather in your area.

The new feature integrates directly into Google Maps so that if you search for directions you'll automatically get a warning about severe weather, earthquakes, or any other natural disaster. The new alert system links back to the warning so you can see exactly which areas are affected and what you should do. It currently pulls data from the US National Oceanic and Atmospheric Administration, the National Weather Service, and the US Geological Survey. It's essentially the same type of emergency warning you get on your TV, but integrated directly into Google.

I thought this was good information and as a Realtor would make a good post to your website or Facebook business page for your locals to know about.

Posted by Sandra Mathewson, CRS ABR GRI SFR CDPE RE/MAX Premier Properties Northern NV on 01/25/2012 03:45 PM

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Reno/Sparks Homes and Real Estate Market Reports October 2011

Summary:

October home sales in Washoe County are the fourth highest home sales for an October in history and outpaces October 2010 by 15 percent. This is the first month where the year-over-year comparison is not influenced by the tax credit incentives, thus a positive sign that sales remain healthy. Also, we have seen only moderate fluctuations in median price for the past seven months. With the majority of new listings entering the market at the under $150,000 and a majority of sales occuring in this same price range, we are cautiously optimistic that prices are at the bottom.

Reno/Sparks Median Sales Price

October 2011 median price was down 1% to $148,500 compared to $150,000 in September 2011.
Median price is defined as the mid-point, where, for the time period identified, the price for one-half of the sales are higher and one-half are lower.

Reno/Sparks Homes Price per Square Foot Solds

Price per square foot is $89.65
Price per square foot by area groups, as provided in the Detailed Report, is a good way to compare similar homes for current value.

Reno/Sparks Homes Sold

October ended the month with 483 sold transactions, down 14.7% from the prior month.
Sales are up 15.3% from the same period last year. For the first time in over a year, the October 2011 comparison of year-over-year figures is a comparison without the influence of tax incentives.

Average Days on Market

The average days on market are 147 days, up 9% from September 2011.

Days on Market (DOM) by Special Conditions

Short sales continue to influence the average days on market at 214 DOM.
Properties with no special conditions, and Other show a range of between 131 and 149 DOM and have been trending up the last couple months.
REO properties average days on market remain level at 97.

Reno/Sparks Homes New Listings

516 new listings were taken in October compared to 617 in September, a 17% decrease.
Distressed New Listings by Special Conditions.
68% of new October listings were distressed - 39% (201) Short Sales; 28% (147) REO; No special conditions 32% (164) and Other less than 1% (4).

Status of Pending

Active Pending - Short Sales represents 61.2% of the total active pendings; Active Pending Loan equals 17.7%; Pending No-show represents 16.2%; Active Pending call 4.5%; and Active Pending House less than 1%.

Reno/Sparks Homes Months Supply of Inventory (Unsold Inventory divided by Sales per Month)

As of October 30, there was 6.5 months of unsold inventory based on the October sales rate.

Historical Months Supply of Inventory

Historical Months Supply of Inventory show that October MSI is down to 6.5 months compared to September 2011 at 6, and down 25% from October 2010.
Eight of the past twelve months, the market has been what is defined as balanced. In the past 24 months, the market has remained as primarily a buyer's market.
The National Association of REALTORS® describes a balanced market as between 5 and 7 months supply.
Unsold inventory includes Active Pendings. This method of reporting months supply of inventory follows the industry standard of including all pending sales remaining in active status in the active inventory.

Conclusion

October home sales at 483 are the fourth highest home sales for a October in history. The number outpaces October 2010 sales by 15%. October 2010 was the final month of the tax incentivized period. This is the first month where the year-over-year comparison is not influenced by the tax credit incentives. Going forward, we will be comparing the year-over-year sales period without the artificial influence of a tax credit.
Year-to-date 2011 home sales (4,862) numbers are up 8% over 2010 home sales (4,478). We are optimistic that the sales number will outpace 2010.
October's median price of $148,500 was down less than 1% from September. The median price has traded in the 4% range for the past six months. Sales at under $150,00 represented 50% of the total sales for the month. With this trend, it's understandable why there is downward pressure on the median price.
Freddie Mac reported that the 30-year fixed rate loan dropped to 4.07%, compared to 4.11% last month. This is the lowest rate reported since Freddie Mac began tracking rates in 1971. Sources report that mortgage interest rates should gradually rise from today's record lows and reach 4.5% by the middle of 2012.
A qualified homebuyer purchasing a home priced at $150,000 with a 3.5% down payment, at 4.07% interest rate will have a monthly payment of approximately $700,000 principal and interest.
According to Lawrence Yun, NAR Chief Economist, "Housing affordability conditions, based on the relationship between median home prices, mortgage interest rates, and median family income, have been at a record high this year. Very favorable affordability conditions will dominate next year as well, which will probably be the second best year on record dating back to 1970. If credit restrictions ease, there is optimism that it will open the door for more home buyers to take advantage of current opportunities.

To read the complete October report, complete with charts, graphs and 5 year history.

To read RSAR Detailed Reports, Oct 2011 report and previous months and years.

Report courtesy of Reno/Sparks Association of Realtors® with date from NNRMLS.

Posted by Sandra Mathewson, CRS ABR GRI SFR CDPE RE/MAX Premier Properties Northern NV on 01/12/2012 10:53 PM

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USA Parkway NDOT Public Information Meeting

The Nevada Department of Transportation (NDOT) will conduct a public information meeting to provide information and receive input on the USA Parkway Project, a proposed north-south transportation link between Interstate 80 (I-80) and U.S. Route 50 (US 50) in Storey and Lyon Counties.

The purpose of the proposed Project is to provide an addtional connection between I-80 and US 50 in order to enhance accessibility and mobility between Lyon and Storey counties. The project would also provide transportation infrastructure to support existing and planned land uses and economic development in Lyon and Storey counties.

Members of the public are invited to attend, Tuesday, January 17, 2012 at their convenience any time during the meeting hours of 3:30 p.m. to 6:30 p.m. Project representatives will be available to discuss the project and answer questions. The meeting will be an open house format with a formal presentation at 5:30 p.m. This will allow you to visit with project representatives individually. Your comments may be submitted for the public record in writing at the meeting or verbally to a court reporter who will be available throughout the meeting or you can e-mail your comments to info@dot.state.nv.us with a reference to this project in the subject line.

In addition to any comments received at the meeting, written comments will also be accepted until 5 p.m. February 3, 2012. Please submit your comments to Steve M. Cooke, P.E., Chief Environmental Services Division, Nevada Department of Transportation, 1263 S. Stewart St., Carson City, NV 89712.

General information about the project can be obtained from Pedro Rodriguez, NDOT Project Manager, at (775) 888-7321, by e-mail to prodriguez@dot.state.nv.us or by mail to Pedro Rodriguez, Project Manager, Nevada Department of Transportation, 1263 S. Stewart Stl, Carson City, NV 89712.

The USA Parkway project will provide economic growth and development to Silver Springs and Lyon County.

USA Parkway Extension August 2010

Silver Springs Community Profile September 2011

Posted by Sandra Mathewson, CRS ABR GRI SFR CDPE RE/MAX Premier Properties Northern NV on 01/10/2012 11:56 PM

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127 Primrose, Fernley, NV 89408 FOR SALE

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Posted by Sandra Mathewson, CRS ABR GRI SFR CDPE RE/MAX Premier Properties Northern NV on 01/08/2012 08:05 PM

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Fernley Homews and Real Estate Market Report October 2011

Summary:

October home sales in Fernley are up 10.3% over October 2010 and have shown continued improvement for the past seven months. This is the first month where the year-over-year comparison is not influenced by the tax credit incentives, thus a positive sign that sales remain healthy. We have seen only moderate fluctuations in median price for the past seven months.

Fernley Homes Median Sales Price

October 2011 median price decreased 4.4% to $82,100 compared to $85,899 in September 2011.
The median price is down 17.1% from the prior October.
Median price is defined as the mid-point, where, for the time period identified, the price for one-half of the sales are higher and one-half are lower.

Fernley Homes Price per Square Foot Solds

Price per square foot is at $54.62.

Fernley Homes Sold

October closed the month with 43 sold transactions up 13.2% from the prior month, up 10.3% from October 2010.
Fernley sales have continued to show signs of improvement for the past seven months.

Average Days on Market

The average days on market are down to 94 days, a decrease of 7% from the prior month.

Days on Market (DOM) by Special Conditions

Short sales average days on market dropped for the second consecutive month down to 147 DOM.
Properties with no special conditions, REO and Other show a range of between 67 and 82 DOM. There were no sales in the Other category.

Fernley Homes New Listings

46 new listings were taken in October equal to September 2011, and a 24.6% decrease from the prior year.

Distressed New Listings by Special Conditions

The percentage of "Distressed" new listings was 76%, down from September 2011 and down 3 percentage points from October 2010.
REO listings represented 35% of the market; Short Sales 42%; No special conditions 24% and Other 0%. The market remains dominated by distressed new listings representing 76% of the market.

Status of Pending

Active Pending - Short Sale represents 50.4% of the total active pendings; Pending No-show represents 23.9%; Active Pending Loan equals 12.4%; Active Pending call 13.3% and Active Pending House less than 0%.

Fernley Homes Months Supply of Inventory (Unsold Inventory divided by Sales per Month)

As of October 31 there was 5.6 months of inventory based on the October sales rate.
The National Association of REALTORS® describes a balanced market as between 5 and 7 months supply.
Unsold inventory includes Active Pendings. This methoid of reporting month's supply of inventory follows the industry standard of including all pending sales in the active inventory.

Conclusion

Year-to-date 2011 homes sales (421) numbers are up 4% over 2010 home sales (406). We are cautiously optimistic that the sales number will continue to perform and outpace 2010.
October's median price of $82,100 was down 4.4% from September. The median price has shown moderate fluctuations for seven months.
October home sales at 43 outpace October 2010 sales by 10%. This is the first month where the year-over-year comparison is not influenced by the tax credit incentives. Going forward, we will be comparing the year-over-year sales period without the artificial influence of a tax credit.
Freddie Mac reported that the 30-year fixed rate loan dropped to 4.07%, compared to 4.11% last month. This is the lowest rate reported since Freddie Mac began tracking rates in 1971. Sources report that mortgage interest rates should gradually rise from today's record lows and reach 4.5% by the middle of 2012.
A qualified homebuyer purchasing a home priced at the Fernley median price of $82,100 with a 3 1/2% down payment, at 4.07% interest rate will have a monthly payment of approximately $400.00 principal and interest.

To read the complete Fernley Market Reports Oct. 2011.

To read September's report and previous months and years.

Report courtesy of Reno/Sparks Association of REALTORS® with data sourced from NNRMLS.

Posted by Sandra Mathewson, CRS ABR GRI SFR CDPE RE/MAX Premier Properties Northern NV on 01/07/2012 06:59 PM

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Fernley Homes and Real Estate Market Report November 2011

Summary:

November sales are down 10% over last year, but year-to-date unit sales are keepiong pace with 2010 and we have also seen relative stable prices seven out of the past eight months. These are positive indicators for the residential housing market.

Fernley Homes Median Sales Price

November 2011 median price increased 2.1% to $83,859 compared to $82,100 in October 2011.
The median price is down 23.8% from the prior November.
Median price is defined as the mid-point, where, for the time period identified, the price for one-half of the sales are higher and one-half are lower.

Fernley Homes Price per Square Foot Solds

Price per square foot is at $51.86.

Fernley Homes Sold

November closed the month with 37 sold transactions down 14% from the prior month, and down 9.8% from November 2010.
Fernley sales have been r elatively stable for the past nine months.

Fernley Homes Average Days on Market

The average days on market are up to 99 days, an increase of 5.9% from the prior month.

Fernley Homes Days on Market (DOM) by Special Conditions

Short sales average days on market dropped for the third consecutive month down to record low of 126 DOM.
Properties with no special conditions, and REO are comparatively close at 81 and 97 DOM respectively. There were no sales in the Other category.

Fernley Homes New Listings

46 new listings were taken in November equal to September and October 2011, and an 11.5% decrease from the prior year.

Distressed New Listings by Special Conditions

The market remains dominated by distressed new listings representing 67% of the market, down from October 2011 (78%).
REO listings represented 43% of the market; Short Sales 24%; No special conditions 31% and Other 2%.

Status of Pending

Active Pending - Short Sale represents 56.5% of the total active pendings; Pending No-show represents 26.1%; Active Pending Loan equas 7%; Active Pending call 10.4% and Active Pending House less than 0%.

Absorption Months Supply of Inventory (Unsold Inventory divided by Sales per Month)

As of November 30th there was 6.1 months of Inventory based on the November sales rate.
The National Association of REALTORS® describes a balanced market as between 5 and 7 months supply.
Unsold inventory includes Active Pendings. This method of reporting month's supply of inventory follows the industry standard of including all pending sales in the active inventory.

Conclusion:

Year-to-date 2011 khome sales (458) numbers are up 2.5% over 2010 unit sales (447). We are optimistic that the home sales number will continue to perform and outpace 2010.
November's median price of $83,859 was up $1,759 (2.1%) over October. The median price has remained stable seven out of the past eight months.
November home sales at 43 are down 9.8% from the prior year and down 14% from October 2011. November 2011 is the second month of comparing year-over-year figures without the influence of tax incentives. Despite this down turn, we expect 2011 sales to outpace 2010.
Freddie Mac reported that the 30-year fixed rate loan dropped to 3.98%, compared to 4.11% last month. This is another record low since Freddie Mac began tracking rates in 1971. Sources report that by the middle of 2012 mortgage interest rates should gradually rise from today
s record lows and reach 4.5%.
A qualified homebuyer purchasing a home priced at the Fernley median price of $84,000 with a 3.5% down payment, at 3.98% interest rate will have a monthly payment of approximately $400.00 principal and interest.
We continue to monitor the impact on the market due to October 2011 passage of Nevada law requiring more stringent documentation required of banks in order to perform foreclosures in a timely manner. We may not see any impact on inventory levels as a result of the stringent requirements on the banks until the first quarter of 2012. If the banks are able to adapt to the new requirements, we anticipate sales activity will keep pace with inventory coming on the market.

To read the complete Fernley Market Report Novembe 2011.sflb

Posted by Sandra Mathewson, CRS ABR GRI SFR CDPE RE/MAX Premier Properties Northern NV on 01/02/2012 09:52 PM

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Sandra Mathewson, CRS ABR GRI SFR CDPE RE/MAX Premier Properties Northern NV

Fernley, NV

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Homes in Reno Sparks Fernley Nevada

Address: PO Box 2619, Fernley 89408, 5250 Neil Rd. #100 Reno, 89502, NV

Cell Phone: (775) 287-8222

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