real estate investment reno: The Godfather of Mortgage-Backed Securities Makes a Pitch For Better Loans For Investors - 02/24/11 09:51 AM
I was listening to CNBC yesterday while I did some work at home on my computer. I mostly just turn it on for background noise. Paradoxically, it seems to help me concentrate on the task at hand, a "talent" I honed as a kid doing my homework in front of the TV (shhhh, don't tell my parents). But every once in a while something pops on that gets my attention and I tune in for a bit.
In this particular instance, David Faber was conducting a live interview with Lewis Ranieri, the creator of the mortgage-backed security (MBS). That definitely got my attention. I suspected Mr. Ranieri, the former … (4 comments)

real estate investment reno: Strategic Leasing - The Newest Foreclosure Scam? - 02/12/11 07:43 AM
A new wrinkle has appeared in the struggle between delinquent homeowners and their lenders. Dubbed by some "strategic leasing", this latest ploy of homeowners in the attempt to foil their lien holders is based on the recently passed Protecting Tenants at Foreclosure Act. In a nutshell, two neighbors get together and essentially trade homes. Each is given a long term lease at close to market value rent (probably far, far below their current mortgage payments). The concept is that any purchaser of the home in a foreclosure sale, either on the courthouse steps or as a subsequent REO, will be subject to … (6 comments)

real estate investment reno: FHA "Anti-flipping Waiver" Extension - It's Official - 01/30/11 04:52 AM
Despite hints from officials and much Internet chatter, lenders have been cautious about the extension of the FHA anti-flipping waiver. So I was pleased to receive a notice from the HUD mailing list announcing that the extension became official on Friday, January 28th.
Here is the text of the announcement, in part:
In an effort to continue stabilizing home values and improve conditions in communities experiencing high foreclosure activity, Federal Housing Administration (FHA) Commissioner David H. Stevens today extended FHA's temporary waiver of the agency's 'anti-flipping rule.'  The extension announced today is intended to accelerate the resale of foreclosed upon homes … (5 comments)

real estate investment reno: Dear FHA: When You Extend The 90-Day Flip Rule Waiver, Could You Fix This Too? - 01/21/11 04:33 PM
Although not yet official, the hints are coming fast and furious that the FHA 90-day flip rule waiver will be extended for another year. It is still unknown whether any of the terms will change with the renewal, and if so, which ones might be different. So that being the case, I'd like to submit a nomination for a rule change.
One of the terms that needs a serious revisit, in my not-so-humble-opinion, is what I would call the investor profit minimization rule. This rule states that (paraphrased) FHA is ok with investors buying properties and then reselling them to FHA … (7 comments)

real estate investment reno: Let's Go Out of Town For Escrow, It's Cheaper - 01/15/11 01:38 PM
One of my investor clients recently asked if we could use an out-of-state title and escrow company for his new transaction. Seems he has been surfing the Internet and found some companies that were charging less than what he is paying in town. Here is how I responded to him:
First of all, I understand that this is a business decision for you, not an emotional one. I run a small business myself, and I am only too aware of the need to manage costs. Even the little ones can build up and sink you if they are incurred on a … (4 comments)

real estate investment reno: My Home Didn't Appraise, Now What??!!! - 01/10/11 12:18 PM
My home didn't appraise, now what? This is a question I have been hearing a lot more than I would prefer lately. I have heard it on both sides of the transaction (from buyers and from sellers), and I'm not sure which side is worse. On the listing side, there is nothing more frustrating than negotiating a nice deal for your sellers only to have the appraisal come in lower than one might have hoped. In this case, the question was asked by some young, first-time buyers; here is my response to them:
First of all, stay one died, everyone's children are … (9 comments)

real estate investment reno: Tinker to Evers To Chance - The Saga of an A to B to C Transaction Part III - The Exciting Conclusion - 10/31/10 11:05 AM
This series of posts reviews my experience with a convoluted, so-called A to B to C transaction in which I represent the ultimate buyer. If you are interested in this topic, you may want to read one of the earlier posts first (links at bottom) rather than starting with this one...too much like coming into the middle of a movie.
Those of you that have been following along on this journey will recall that I was very concerned that the bank was getting screwed in the A->B transaction short sale, beyond even what was required by market value. I speculated that they … (0 comments)

real estate investment reno: Tinker to Evers To Chance - The Saga of an A to B to C Transaction Part II - What About the Bank? - 09/26/10 06:03 AM
 This series of posts reviews my experience with a convoluted, so-called A to B to C transaction in which I represent the ultimate buyer. I am sharing the details publicly in the hope others will chime in with their experiences and opinions, as these transactions walk a fine line between legal and outright fraud. You can imagine which side I would prefer to stay on.
And "Oh, By the way" ;-)
******Tinker to Evers to Chance - For those of you who are not baseball fans (say it ain't so!), the footnote at the bottom will clarify what in the world … (0 comments)

real estate investment reno: Tinker to Evers To Chance - The Saga of an A to B to C Transaction Part I - 09/05/10 04:42 AM
Tinker to Evers to Chance - For those of you who are not baseball fans (say it ain't so!), the footnote at the bottom will clarify what in the world my title is referring to. The rest of you may read on...
Recently, I wrote a blog post describing a difficult transaction where I represent the buyer entitled: Close Encounters of the Late-Night TV Guru Kind. It describes what is known to investors as an A to B to C transaction, in which B, the investor, hangs on to the property about as long as Mr. Evers held on to a … (4 comments)

real estate investment reno: Close Encounters of the Late-Night TV Guru Kind - 09/01/10 05:29 PM
I have some clients, really fun people, Dick and Jane. Dick and Jane are engaged to be married, and would like to buy a home together prior to the momentous event. Both of them own their own homes now free and clear, as well as an assortment of rental properties that they manage and maintain, so they are far from babes in the woods as far as real estate is concerned.
After several years (yes, years) of forwarding them listings, something finally piques their interest. Their MUTUAL interest; there has been periodic individual piqueage that has occurred, but they agree on practically … (22 comments)

real estate investment reno: Dear Short-Sale Sellers, Do You Want to Sell Your Home or Not? (An Active Rain Newbie Contest - Come Get Some Jump in Your Step) - 08/06/10 04:32 PM
Dear Reno Short Sale Sellers,
I'd like to tell you about my recent experience showing some of your homes. Last week, I took an investor client out to look at houses for sale in Northwest Reno. He is an experienced and hands-on sort, and had compiled a list of eight short sale properties he wanted to visit. This guy is ready to buy; hot to trot doesn't even come close. Appointments were made and confirmed. Half the homes we visited still had you folks living in them. 
First fly in the ointment: call from the listing agent on the first showing. … (16 comments)

real estate investment reno: Investor Alert: Tanamera Condos on Sale! - 04/04/10 03:46 PM
If you are like many real estate investors in the Reno, Nevada area, it has no doubt crossed your mind that now is a great time to pick up one or more investment properties. And if your investment tastes run to condominiums, then the Tanamera development in South Reno is worth a look. Since it was built in 1999-2000, it has become one of the most popular condominium complexes in Reno. And best of all, it is currently "on sale".
There is a lot to like about Tanamera whether you are a real estate investor or a prospective homeowner. Tanamera is essentially a luxury … (0 comments)

Linda Humphrey, CRS, Broker/Owner HHC Realty (Humphrey Home Connections Realty, Reno, Nevada)

Linda Humphrey

CRS, Broker/Owner HHC Realty

Reno, NV

More about me…

Humphrey Home Connections Realty, Reno, Nevada

Address: 719 Caughlin Glen, Reno, NV, 89519

Mobile: (775) 287-4665

Fax: (775) 853-7315

Email Me

Observations on home and investment property purchase and sales in the Reno, Sparks, and other Washoe County areas. In addition, reviews of local businesses, area activities, and day-to-day life are highlights



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