| The Search for Reno Sparks NV Real Estate Made Simple! |
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Reno Sparks Homes for Sale - from condos to castles including Reno Sparks foreclosures, short sales and bank owned REO's in the Reno Sparks community and surrounding areas.
Located in Northern Nevada, Reno is nestled in The Truckee Meadows, surrounded by the Sierra Nevada Mountains. Rural ranch property and cosmopolitan estates are available in this beautiful area of Nevada. Sister city Sparks is the 7th largest city in Nevada and takes in a large territory north of Reno. Dickson Realty offers numerous branch offices throughout the valley, at Lake Tahoe and Truckee, CA.
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| Reno Sparks Foreclosures, Bank Owned Homes, Pre-foreclosures, Short Sales & Distress Home Sales |
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Have you ever thought about getting a Sparks or Reno home by purchasing a bank owned or foreclosure property? This may represent a great deal on Sparks Reno real estate. There are also many opportunities in the Sparks and Reno pre-foreclosure market in what the real estate industry calls short sales or short pays. And sales in both Reno and Sparks, have been increasing. |
If you're the type of person who recognizes what a geat deal some of these properties could represent, you will be interested to know about our computerized service which automatically searches out and downloads a current list of all such Sparks Reno foreclosures, bank owned, and short sale properties day in and day out. When you receive this free, automatic service, you are plugged into the Northern NV MLS and will receive the most current information possible. We can tweak the price range, number of bedrooms, one or two stories and garage for you...that and more.
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Send us an email or give us a jingle...775-284-4390.
News of the day! 7/30/08
The Housing and Economic Recovery Act of 2008 is Signed into Law
Recently, the House and Senate passed broad-based housing legislation, which was signed into law by President Bush this morning. Heralded as the most sweeping housing reform since the “New Deal”, it includes the creation of a strong regulator for Fannie Mae and Freddie Mac, changes in conforming and FHA loan limits, a comprehensive modernization plan for FHA, and the Hope for Homeowners plan, which may help distressed homeowners by refinancing them into FHA loans.
Key Highlights of the Housing and Economic Recovery Act
* Effective Jan. 1, 2009, higher permanent loan limits for conventional conforming and FHA; limits to increase to a maximum amount or ceiling of $625,500, depending on the formula for each metropolitan area. Note: The temporary limits established in March will expire on Dec. 31, 2008.
* FHA floor limits will remain the same at $271,050.
* The VA guaranty will increase.
* Minimum cash investment for FHA loans will increase to 3.5%.
* A moratorium on risk-based pricing for FHA loans, effective Oct. 1, 2008, as indicated in the Act.
* Elimination of Seller-funded Down Payment Assistance Programs with FHA loans, effective Oct. 1, 2008, as indicated in the Act.
* Condo processing for FHA loans will be streamlined (timeline TBD).
* FHA reverse mortgages (HECM): changes, among others, include higher loan limits, availability with purchase transactions and a modification to the origination fee.
If you own a home and are facing foreclosure learn as much as you can about this legislation. It contains HOPE and a possible SOLUTION for you!
If you are a home buyer planning on purchasing this year and need down payment assistance coupled with closing cost assistance, you have a new deadline - close escrow before October or you will not obtain a loan with those benefits! Start shopping and do it before someone changes their mind!
This bill has some dramatic consequences for future homeowners. None of us can afford to be asleep at the wheel on this legislation!
Breaking News 8/4/08 - (things change quickly, don't they?)
Last night, Congress introduced bipartisan legislation that would reauthorize and reform charitable downpayment assistance. This bill would remedy a harmful provision in the new housing law which limits homeownership opportunities for low and middle-income Americans. The legislation reauthorizes and reforms charitable downpayment assistance funded in part by sellers, which has helped over one million families and individuals become homeowners since 1999. The program was eliminated by legislation signed by President Bush on July 30, 2008.
The Green-Miller-Waters-Shays plan would re-authorize and reform non-profit downpayment assistance and secure it as an allowable source for FHA borrowers. The bill seeks to ensure that providers of the downpayment assistance operate in a transparent manner to guard against conflicts of interest. The bill also includes language to ensure that FHA maintains its financial stability by permanently authorizing the Secretary to assess higher premiums to higher risk borrowers.
