Reno Sparks Real Estate - Mona Tatro

Reno among America’s 50 Best Cities!

Mona Tatro — Fri, 23 Sep 2011 21:00:58 +0000

I would definitely have to agree! Go Reno!!! America’s 50 Best Cities

HAFA Short Sales- the best solution for avoiding foreclosure

Mona Tatro — Wed, 17 Aug 2011 18:15:46 +0000

I recently took the time to discover more about the Home Affordable Foreclosure Alternative Program (HAFA). I completed the training and have now become a Certified HAFA Specialist. I am truly amazed at how the program can work for people who need assistance in avoiding foreclosure. I’m also stunned by the fact that it isn’t being used as much as it should. To qualify for the program, the homeowner has to have a legitimate hardship, ie. loss of or reduced employment, medical issues, divorce, etc. Upon qualification and successful close of escrow, the homeowner walks away with a check for $3,000 for relocation assistance and HAFA guarantees no deficiency judgments on the short balance. If you need assistance or have any questions about qualifying for the program, give me a call. There’s really no better way to avoid foreclosure and get out from underneath your negative equity position.

For more Information go to www.makinghomeaffordable.gov or contact me!

20 Year Interest Rate Chart

Mona Tatro — Fri, 22 Jul 2011 20:25:41 +0000

Take a look at where we’ve been and where we are now in terms of financing a mortgage. Coupled with the lowest real estate prices we’ve seen in 15 years there isn’t a better time to buy. FHA financing still offers the lowest down payment option at 3.5% down and in most cases buyers are asking sellers to take care of their closing costs. Median sales price for Reno is $155,000 and $148,000 for Sparks. At those price points, monthly payment runs right around $778.00 with taxes and insurance on top.

Prime Time for Real Estate Investors…

Mona Tatro — Fri, 27 May 2011 20:43:33 +0000

Results from a recent survey report that the next two years will be prime time for real estate investing. See article from Inman News. This very much seems to be the case in our area as many homes are being picked up on the courthouse steps and flipped for cash. Homes under $250,000 on the traiditional market aren’t lasting long either. As recent as a couple days ago, an investor that I know locked in a rate at 5.25% with 25% down…. this is unheard of for investment property! I do remember in the early years of my career hearing a lot of people say “I wish I would have bought real estate a year or two ago”. We are currently in a better buying position now with the combination of pricing and interest rates.

Owner Financing Available!

Mona Tatro — Thu, 26 May 2011 21:38:28 +0000

Owner financing available for this gorgeous home! Have you recently short sold your home and can’t qualify for conventional financing? This home may be an option for you. Seller may provide financing upon approval of your financials and 25-30% down. Located in Caughlin Ranch, 5 bedroom, 3.5 bath, 3790 sf and a 3 car garage. click here for more details.

Reno Sparks Market Condition Report for April

Mona Tatro — Mon, 23 May 2011 19:27:46 +0000

First Centennial Title has released the attached Market Condition Report for April. Overall our real estate market is improving, increasing numbers of sales and lower inventory. The down side is that the median price is still on the decline. Median price in April for Reno is $167 and $145 for Sparks. Interest rates are holding steady at around 5%.

Lower Credit Score Requirements

Mona Tatro — Thu, 19 May 2011 20:33:50 +0000

It’s possible now to get approved for an FHA loan if your credit score is between 600 and 619. Most mainstream lenders have had the credit score limit of 620 for at least a couple years now. This is great news! Rates are still extremely low and combined with pricing there really isn’t a better time to buy. Of course, there are stipulations to obtaining a mortgage with the lower credit score. You’d have to inquire with a reputable mortgage lender to get all the details. Let me know if you have questions, I can direct you to a qualified, trustworthy, professional for help.

Short Sale vs. Foreclosure

Mona Tatro — Fri, 15 Apr 2011 19:44:46 +0000

Wondering if a short sale is right for you? This chart has all the advantages and disadvantages spelled out for you. More and more homeowners that are facing foreclosure are going the short sale route. Much less impact on your credit and ablity to purchase in years to come.

Reno Sparks Market Condition Report for March

Mona Tatro — Thu, 14 Apr 2011 17:46:03 +0000

The numbers for March are in….. some good news, some bad. Looks like inventory is tightening and sales numbers are increasing which leads to a balanced market. That is the good news. Prices are still on the decline which is the bad news. Wihtout seeing the actual numbers I wouldn’t believe it, most of my recent transactions have been multiple offer situations that end in an overbid. Investors are snatching up properties left and right. Inventory is still pretty much balanced between short sales, bank owned and traditional sales.

Reno Short Sales

Mona Tatro — Wed, 30 Mar 2011 18:13:32 +0000

The Reno, Sparks area has been hit significantly harder than most areas in the country by the recession of the last three years. We have endured extremely high job losses and real estate values have plummeted by more than 50% in some areas. Short sales now take up a third of our market inventory. This is actually a promising statistic because more and more homeownes are finding a way to avoid foreclosure by doing a short sale. I have taken the time to earn my CDPE (Certified Distressed Property Expert) designation and am excited about the opportunity of helping a family avoid foreclosure. If you are in a negative equity position on your home and can no longer continue making your payments, I am here to help. Give me a call today! Mona, 775-843-8187.