RISMEDIA, March 31, 2010—(MCT)—Wynn Bloch has always dutifully paid her bills and socked away money for retirement. But in December she defaulted on the mortgage on her Palm Desert, Calif., home, even though she could afford the payments.

Bloch paid $385,000 for the two-bedroom home in 2006 when prices were still surging. Comparable homes are now selling in the low $200,000s. Bloch, a retired psychologist doubted she’d see her investment rebound in her lifetime. Plus, she said, she was duped into an expensive loan.

The way she sees it, big banks that helped fuel the mess all got bailouts while homeowners like her are left holding the bag. No more. “There was not a chance that house was ever going to be worth anywhere near what my mortgage was,” said Bloch, who is now renting a few miles away after defaulting on the $310,000 loan. “I haven’t cheated or stolen.”

Time was when Americans would do almost anything to hang on to their homes. But that commitment appears to be fraying as more people fall behind on their loans, while watching the banks and lenders that helped trigger the financial crisis return to prosperity.

Nearly one-quarter of U.S. mortgages, or about 11 million home loans, are underwater, with buyers’ houses worth less than their loans. While home values are regaining ground, they remain far below their 2007 peak. Many homeowners are just now coming to grips with the idea that prices will take years to reach the pre-crash peak: as long as 14 years in California, according to economist Chris Thornberg.

Stuck with properties whose negative equity won’t recover for years—feeling betrayed by financial institutions that bankrolled the frenzy—some homeowners are concluding it’s smarter to walk away than to stick it out.

“There is a growing sense of anger, a growing recognition that there is a double standard if it’s OK for financial institutions to look after themselves, but not OK for homeowners,” said Brent T. White, a law professor at the University of Arizona who wrote a paper on the subject.

Just how many are walking away isn’t clear. But some researchers are convinced that the numbers are growing. So-called “strategic defaults” accounted for about 35% of defaults by U.S. homeowners in December 2009, up from 23% in March of 2009, according to Luigi Zingales, a professor at the University of Chicago’s Booth School of Business. He and colleagues at Northwestern University’s Kellogg School of Management reached that conclusion by surveying homeowners about their attitudes and experience with loan defaults. They found that borrowers were more willing to walk away if someone they knew had done it, and that the greater a homeowner’s negative equity the more likely they were to default, even if they had could make the monthly payment.

Similarly, an analysis released last year by credit bureau Experian and consulting firm Oliver Wyman estimated that walkaways accounted for nearly one in five homeowners who were seriously delinquent on their mortgages in the last three months of 2008.

“The fact that people are strategically defaulting—there is no question,” Zingales said. “The risk that the number of people doing this might explode is significant.”

A flood of walkaways could damage the nation’s fledgling housing recovery by swamping the market with foreclosed properties. Still, some experts are dubious that millions of underwater homeowners will pull the plug like Bloch did. Home ownership remains the cornerstone of the American dream. Moving is a hassle and the stigma associated with a foreclosure is likely to keep many hanging on for a recovery.

The biggest surprise is that so many underwater homeowners continue to pay, according to White, the Arizona law professor. He’s convinced that personal shame, as well as moral suasion by the government and financial institutions has kept many homeowners from walking away, even when they’d be better off financially to dump their homes.

But real estate veterans said old taboos are eroding fast. Jon Maddux, a former real estate investor who founded You Walk Away, a for-profit company that guides homeowners through the process of default in 2007, said his earliest customers struggled with emotional ties to their homes as well as remorse about reneging on an obligation. That’s changed as more homeowners have concluded that the housing market isn’t going to rebound quickly and they’d be better off cutting their losses. “Now, it’s more of a business decision—it’s people who could afford their house, but it’s an inconvenience,” Maddux said. He and other experts said average Americans are fed up with hearing how they’re supposed to honor their debts while businesses operate by another set of rules.

Consumers typically begin to think about walking away once the value of the property is 25% lower than the value of the debt, according to research conducted by Sam Khater, senior economist at real estate research firm First American CoreLogic. About five million people nationwide are in that situation, he said.

Some purchased their homes at the peak of the market only to see the value drop precipitously when the bubble burst. Others bought low, but couldn’t resist borrowing against their rising equity to make home improvements and to pay off other bills. When home values fell, they too found themselves underwater.

Ken Henrich purchased his Marysville, Calif., home for $187,000 in 2004. He and his wife later refinanced the property, tapping the equity to pay off credit cards. They now owe around $300,000 on a place that’s worth about $132,000. They let the four-bedroom residence slip into foreclosure and are currently waiting for it to be sold at auction. They’re planning on renting for a few years until they can possibly buy again. “We can more than make the payment,” Henrich said. “The way we look at it, our credit would still be perfect years from now, but we’d still owe tons more than it’s worth.”

There are consequences to walking away. A default will knock down a credit score by at least 100 points, said Craig Watts, a spokesman for FICO, the company that developed credit scores. That could make it tough to borrow money, rent an apartment or get a job since many employers now routinely check credit histories of potential hires.

To some, it’s a small price to pay to gain a measure of revenge against the financial institutions whose loose money helped to fuel the crisis. Joseph Shull, a marketing professor, said he’s planning on walking away from the town house he bought in Moorpark, Calif., in June 2006. “I’m angry, and there are a lot of people like me who are angry,” he said. He purchased the home for $410,000 and spent $30,000 renovating. Now the house is worth around $225,000. Shull admits he overpaid for his property, but he said it fell in value in part because of “regulatory mismanagement.”

(c) 2010, Los Angeles Times.

Before walking away there are other things a homeowner can try please checkout the following:

http://www.makinghomeaffordable.com/requestmod.shtml

http://chancegates.com/2010/03/18/short-sale-the-rise-the-revenue-the-reality/

http://chancegates.com/2010/03/14/home-owners-to-be-paid-to-short-sale/

http://chancegates.com/2010/02/26/2009-foreclosure-legislation/

http://chancegates.com/2009/06/12/homeowners%E2%80%99-right-to-mediation-requirement-before-foreclosure/

Please get all your legal advice from an Attorney.

As a Reno – Sparks real estate consultant I encourage questions and comments regarding the Reno – Sparks real estate market or any of the articles I post here.  I can be reached at chance@ballard-company.com

A child miseducated is a child lost.
John F. Kennedy

A man may die, nations may rise and fall, but an idea lives on.
John F. Kennedy

A nation that is afraid to let its people judge the truth and falsehood in an open market is a nation that is afraid of its people.
John F. Kennedy

A nation which has forgotten the quality of courage which in the past has been brought to public life is not as likely to insist upon or regard that quality in its chosen leaders today – and in fact we have forgotten.
John F. Kennedy

A young man who does not have what it takes to perform military service is not likely to have what it takes to make a living. Today’s military rejects include tomorrow’s hard-core unemployed.
John F. Kennedy

All free men, wherever they may live, are citizens of Berlin. And therefore, as a free man, I take pride in the words “Ich bin ein Berliner!”
John F. Kennedy

America has tossed its cap over the wall of space.
John F. Kennedy

And so, my fellow Americans, ask not what your country can do for you; ask what you can do for your country.
John F. Kennedy

As we express our gratitude, we must never forget that the highest appreciation is not to utter words, but to live by them.
John F. Kennedy

Change is the law of life. And those who look only to the past or present are certain to miss the future.
John F. Kennedy

Communism has never come to power in a country that was not disrupted by war or corruption, or both.
John F. Kennedy

Conformity is the jailer of freedom and the enemy of growth.
John F. Kennedy

Do not pray for easy lives. Pray to be stronger men.
John F. Kennedy

Do you realize the responsibility I carry? I’m the only person standing between Richard Nixon and the White House.
John F. Kennedy

Domestic policy can only defeat us; foreign policy can kill us.
John F. Kennedy

Efforts and courage are not enough without purpose and direction.
John F. Kennedy

For time and the world do not stand still. Change is the law of life. And those who look only to the past or the present are certain to miss the future.
John F. Kennedy

Forgive your enemies, but never forget their names.
John F. Kennedy

Geography has made us neighbors. History has made us friends. Economics has made us partners, and necessity has made us allies. Those whom God has so joined together, let no man put asunder.
John F. Kennedy

History is a relentless master. It has no present, only the past rushing into the future. To try to hold fast is to be swept aside.
John F. Kennedy

As a Reno – Sparks real estate consultant I encourage any question or comments on the Reno – Sparks real estate market or any of the articles I posted here.

I can be reach at chance@ballard-company.com

The clock is ticking on the federal homebuyer tax credit.

Homebuyers still have time to buy a home and meet the deadlines, but they will need to act soon and be proactive throughout the transaction.

The homebuyer tax credit is worth 10 percent of the home’s sale price, up to $8,000 for buyers who haven’t owned a home in the previous three years and up to $6,500 for buyers who have owned and occupied a principal residence for at least five consecutive years during the eight-year period that ends on the day the new home is purchased.

Here are some tips for last-minute buyers:

• Buyers should be “upfront with their Realtor about their must-haves and their wish list,” says Allyson Bernard, owner of Real Estate Professionals of Connecticut. Buyers who aren’t realistic could find themselves up against the deadline with fewer houses from which to choose.
• Harsh weather may be “a help or a hindrance,” Bernard says. Buyers who are willing to trudge through snow to find a house may have an advantage over buyers who wait until the weather improves.
• Contract contingencies allow buyers some breathing room to take care of big items such as financing, inspections and the sale of their current home, Bernard says. But contingencies shouldn’t be an excuse to delay once the deal is pending.

“If you run into a problem and you no longer want to buy that house, it’s great that you had those contingencies to protect you, but you may not have time to find another property,” she says.

• Anecdotal reports suggest that some buyers have included a tax-credit contingency in the purchase contract. Whether that’s a necessary protection to make sure the deal closes on time depends on the situation and local practices. Either way, buyers should read the contract to make sure the closing will occur before the deadline.
• Buyers should get preapproved for a mortgage, because glitches such as a mistake on a credit report or a lender’s request for tax returns that must be retrieved from the IRS can cause a delay, says Patti Ketcham, owner of Ketcham Realty Group in Tallahassee, Fla.

“You don’t want to wait until the last minute, because you could end up shooting yourself in the foot over something that’s no one’s fault, but you just run out of time,” she says.

• Buyers also should allow extra time in case the mortgage lender requires a second appraisal, which can delay final loan approval.

“The appraisal process in residential lending is going through some painful changes. It is not uncommon to have a mortgage lender require more than one appraisal,” Ketcham says

http://realestate.msn.com/article.aspx?cp-documentid=23657587

As a Reno – Sparks real estate consultant I encourage any questions or comments on the Reno – Sparks real estate market or any other article I post here.

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• End of Home-Buyer Programs May Stall Housing Recovery (time.com)
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Add-on fees have been a source of confusion since a U.S. District Court last year ruled that these fees violate federal law when the bill doesn’t detail specific services for which the fees are being billed.

Recently, Helen R. Kanovsky, general counsel for HUD, released some more detailed guidance about the court ruling. She wrote:

Commissions may be quoted “using a flat fee, a percentage of the sales price, or a combination” — all listed on the revised HUD-1 sheet. But Kanovsky said that if the total charges “exceed the amount of the commission for listing and selling the home that is reflected in the real estate broker’s or agent’s listing agreement,” then HUD has the right “to determine whether additional services were provided” to justify the add-on.

If few or no services appear to have been performed, HUD can consider these charges a violation of the Real Estate Settlement Procedures Act. Such a violation is subject to significant penalties.

Kanovsky also warned against charging fees when there is no contract or other agreement that permits the levying of these charges. For instance, an administrative fee with no contractual language could be considered by HUD as an illegal fee.

Source: Washington Post Writers Group, Kenneth R. Harney (03/20/2010)

As a Reno – Sparks real estate consultant I encourage questions or comments on the Reno – Sparks real estate market or any of the comments I post on chancegates.com  Email me at chance@ballard-company.com

March 26 to 28

Reno Livestock Event Center

This year the circus times for Reno are:
Friday March 26th at 7 pm
Saturday March 27th at 11 am, 3 pm, & 7 pm
Sunday March 28th at 1 pm & 5 pm

The Annual Shrine Circus is one of the largest fund-raising events sponsored by the Shriners. The Shrine Circus provides a quality, fun-filled, family experience with proceeds going to a great cause—the good work of Shriners in your community. Whether you’re buying tickets or advertising in our souvenir program, your support is greatly appreciated.

Shriners are part of the system that operates 22 hospitals, all with one objective:  To provide the very best medical care for children under 18 years of age, free of charge to the patient.  Our burns hospitals are second to none.  Boston , Cincinnati , Galveston and of course Northern California in Sacramento .  The level of expertise is so high burned children in northern Nevada and much of California will be flown directly to Sacramento regardless of the geographical point of injury.

Shriners belong to an international fraternity of approximately 450,000 members throughout the United States, Canada, Mexico and Panama. Founded in 1872, the Shrine is best known for its unique parades, its distinctive red fez, and its official philanthropy, children’s hospitals.

Kerak has of course several Shrine Clubs.  A Club is the Temple away from home.  As far south as Bishop and east to Elko.  4½ hours in each direction.  There are also Shrine Units.  Crescent Club, Golf Club, Winnemucca Tin Lizzies, Honda Hotshots, The Arabian Band, Stagecraft, Greeters, Klowns, Patrol Provost Marshalls, Karavaners and of course the Wrecking Crew.  These are all the guys you see in their chosen regalia enjoying participation in the many parades we attend.

Read more at www.kerakshrine.com

As a Reno/Sparks real estate consultant I encourage any question or comments on the Reno/Sparks real estate market or any on the articles I post.  I can be reached at chance@ballard-company.com

RISMEDIA, March 24, 2010—Buying a home is one of the biggest decisions an individual can make. So it’s understandable that one considering a home purchase may take their time to avoid rushing into such a large financial commitment. However, several factors might leave prospective home buyers who don’t purchase a property now wishing they had taken action sooner.

“Current market conditions have created a perfect storm of sorts that has made it an ideal time to purchase for first-time and trade-up buyers alike,” said James M. Weichert, president and founder of Weichert, Realtors. “Those who have the means and the desire to buy now but don’t, aren’t likely to see such a great opportunity again anytime soon.”

Specifically, Weichert offered three reasons why those who aren’t under contract to purchase a new home by April 30, 2010 might regret it.

1. They won’t receive a sizeable amount of money from Uncle Sam.

For the past two years, the federal government has offered a home buyer tax credit to help stimulate the economy. But that financial incentive is set to expire soon. First-time buyers who aren’t under contract to purchase a home by April 30, 2010 will leave the $8,000 that is available to them through the tax credit on the table. Meanwhile, repeat buyers will miss out on the opportunity to collect up to $6,500 from the government.

2. They might not lock-in on the historically-low interest rates.

Thanks to measures taken by the Federal Reserve including the purchasing of mortgage-backed securities, interest rates have remained historically-low for several years. With the economy beginning to show signs of recovery, it is widely believed that the government will soon put an end to these stimulus efforts.

If that happens, many economists believe we will begin to see a sharp increase in interest rates which could result in a much higher monthly payment for those who wait. For example, an interest rate increase of 1% on a 30-year fixed mortgage of $300,000 could cost a buyer $188 more a month or $67,000 more over the span of the entire loan.

3. They might miss out on record home price affordability.

Home price affordability is at its most optimal level in decades. As a result, those who wait to buy will likely pay more for the home they purchase than what that same home would cost right now. In fact, home prices have already begun to rise slightly in some markets. Instead of getting a better bargain, waiting to buy a home might net buyers a higher purchase price, less appreciation and less house for their buck.

“There is no time to waste for anyone who wants to take advantage of this great buying opportunity. Particularly for those who have a home to sell first,” added Weichert. “If you are prone to saying ‘what if’ and wondering what could have been, you will thank yourself down the road for buying now.”

For more information, visit www.weichert.com.

As a Reno-Sparks real estate consultant I welcome any questions or comments on the Reno-Sparks real estate market or any articles I post.  I can be reached at chance@ballad-company.com

After a successful week of Reno/Sparks Real Estate, I wanted to post my weekly quotes. This weeks quotes are from the great Thomas Jefferson 1743 -1826.  I found out that President Jefferson had a lot to say, however I picked a few of my favorites after you read these,tell me which is your favorite quote and did i make my list?

A Bill of Rights is what the people are entitled to against every government, and what no just government should refuse, or rest on inference.

A coward is much more exposed to quarrels than a man of spirit.

A strong body makes the mind strong. As to the species of exercises, I advise the gun. While this gives moderate exercise to the body, it gives boldness, enterprise and independence to the mind. Games played with the ball, and others of that nature, are too violent for the body and stamp no character on the mind. Let your gun therefore be your constant companion of your walks.

A wise and frugal government, which shall leave men free to regulate their own pursuits of industry and improvement, and shall not take from the mouth of labor the bread it has earned – this is the sum of good government.

Advertisements contain the only truths to be relied on in a newspaper.

All tyranny needs to gain a foothold is for people of good conscience to remain silent.

An association of men who will not quarrel with one another is a thing which has never yet existed, from the greatest confederacy of nations down to a town meeting or a vestry.

An enemy generally says and believes what he wishes.

An injured friend is the bitterest of foes.

As our enemies have found we can reason like men, so now let us show them we can fight like men also.

Be polite to all, but intimate with few.

Commerce with all nations, alliance with none, should be our motto.

Delay is preferable to error.

Determine never to be idle. No person will have occasion to complain of the want of time who never loses any. It is wonderful how much may be done if we are always doing.

Do not bite at the bait of pleasure, till you know there is no hook beneath it.

Do you want to know who you are? Don’t ask. Act! Action will delineate and define you.

Don’t talk about what you have done or what you are going to do.

Educate and inform the whole mass of the people… They are the only sure reliance for the preservation of our liberty.

Enlighten the people generally, and tyranny and oppressions of body and mind will vanish like evil spirits at the dawn of day.

Errors of opinion may be tolerated where reason is left free to combat it.

Every citizen should be a soldier. This was the case with the Greeks and Romans, and must be that of every free state.

Every government degenerates when trusted to the rulers of the people alone. The people themselves are its only safe depositories.

Experience demands that man is the only animal which devours his own kind, for I can apply no milder term to the general prey of the rich on the poor.

Experience hath shewn, that even under the best forms of government those entrusted with power have, in time, and by slow operations, perverted it into tyranny.

Force is the vital principle and immediate parent of despotism.

Happiness is not being pained in body or troubled in mind.

He who knows best knows how little he knows.

He who knows nothing is closer to the truth than he whose mind is filled with falsehoods and errors.

History, in general, only informs us of what bad government is.

Honesty is the first chapter in the book of wisdom.

How much pain they have cost us, the evils which have never happened.

I abhor war and view it as the greatest scourge of mankind.

I am an Epicurean. I consider the genuine (not the imputed) doctrines of Epicurus as containing everything rational in moral philosophy which Greek and Roman leave to us.

I believe that every human mind feels pleasure in doing good to another.

I do not take a single newspaper, nor read one a month, and I feel myself infinitely the happier for it.

I find that he is happiest of whom the world says least, good or bad.

I find that the harder I work, the more luck I seem to have.

I hope our wisdom will grow with our power, and teach us, that the less we use our power the greater it will be.

I know of no safe depository of the ultimate powers of the society but the people themselves; and if we think them not enlightened enough to exercise their control with a wholesome discretion, the remedy is not to take it from them but to inform their discretion.

As a Reno/Sparks real estate consultant I always welcome any comments or questions on the Reno/Sparks real estate or any of the articles I posted.  You can email me directly at  chance at ballard-company.com

RISMEDIA, March 20, 2010—(MCT)—As the spring real estate season kicks in and the tax credit deadline for sale agreements approaches, the government is ending a program that has kept interest rates low and housing-affordability levels high for months.

On March 31, the Federal Reserve will stop buying mortgage-backed securities from Fannie Mae and Freddie Mac, returning control of interest rates to private investors.

For months, industry observers have predicted that once government supports are removed, interest rates will rise quickly, pushing many of the first-time buyers critical to housing’s recovery out of the market.

In late summer and fall 2009, lured by fixed 30-year mortgage rates under 5% and the first $8,000 tax credit, which expired Nov. 30, first-timers pushed sales of previously owned homes to the highest levels in at least three years, reducing record inventories and braking price declines.

That tax credit was renewed Nov. 5 and expanded to buyers who had not purchased a property in five years, although the credit for repeat buyers is $6,500. The second credit expires April 30, is unlikely to be renewed, and remains the engine moving buyers.

“Not a single one has expressed concern about interest rates,” said Cheryl Miller of Long & Foster Real Estate in Blue Bell, Pa., acknowledging that “there is, I suppose, a false sense of security regarding rates remaining low.”

As the date for the Fed pullout approaches, analysts now generally agree that an immediate rate spike is no longer the likely result. “We think there will be a significant increase in private demand for mortgage-backed securities to take the place of the Fed,” said David Berson, chief economist at PMI Group in Walnut Creek, Calif. Not enough to offset the Fed’s departure, he said, with rates possibly increasing a quarter of a percentage point, “but a significant one.”

Bankrate.com columnist Holden Lewis said rates are so low now—averaging 4.87% for a 30-year fixed this week—that an increase “is inevitable. But maybe they’ll rise gradually instead of jumping” April 1.

The Fed says it will stop buying “by” March 31 instead of “at” the end of the month, meaning that it likely has reduced its purchases and rates haven’t risen, Lewis said.

Moody’s Economy.com chief economist Mark Zandi said rates will “drift” higher in summer and fall, with the half a percentage point the Fed’s action cut working its way back in—mainly because investors believe the government would return if they got too high. For that reason, Philadelphia mortgage broker Fred Glick said, rates won’t change. “If the old buyers don’t come back, the Fed will intercede again to ensure rates during a continued slowly recovering economy will not go so high as to stymie a positive direction,” Glick said. Buyers of these securities “now see that the lenders have instituted rigorous standards to ensure that the Fannie Mae and Freddie Mac paper they are buying are very good loans,” he said.

On the other hand, said Holland, Pa.-based economist Joel L. Naroff, low rates are not sustainable, and “the only way to get the market to stand on its own is to get people to become realistic again about prices and rates.” Rates will likely rise, but “the level will still be historically low,” Naroff said.

When rates do rise, likely by year’s end, it won’t be because of the Fed’s action, but “natural macroeconomic forces” like a recovering economy and the high budget deficit, said Lawrence Yun, National Association of Realtors chief economist.

The possibility of renewed Fed intervention will likely prevent rate increases resulting from private investors demanding large risk spreads, said economist Brian Bethune of IHS Global Insight in Lexington, Mass. As a result, Bethune and IHS economist Patrick Newport believe, the rate will be at only 5.25% by the fourth quarter.

Many Fed officials have emphasized that “high unemployment and tame inflation warrant a continued promise to hold rates very low for a long time,” said Peter Buchsbaum, of Arlington Capital Mortgage in Horsham, Pa.

Some analysts expect the expansion to ease, “and I am sure the Fed does not want to extinguish the fragile recovery,” Buchsbaum said.

Treasury bond yields “did not move much after the Fed completed its $300 billion in purchases in November,” said Jerome Scarpello, of Leo Mortgage in Spring House, Pa., “meaning they were able to exit and not disrupt that market.” Rates will rise, he said, but not as high as the one percentage point others predict. “With unemployment high and foreclosures an issue, a significant rate increase can push home prices down,” Scarpello said, “and hamper the slight recovery we now have.”

(c) 2010, The Philadelphia Inquirer.

It is fun to read all the expert opinions on what they think is going to happen.  The question of the day is what do you think will happen to the interest rates when buying a house in the Reno/Sparks real estate market?

As a Reno/Sparks real estate consultant I always welcome any comments or questions on the Reno/Sparks real estate or any of the articles I posted.  You can email me directly at  chance at ballard-company.com

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RISMEDIA, March 19, 2010—(MCT)—Want to sell your home? Get out the bucket, mop and Mr. Clean. The key to making a positive first impression is simple, said Sandra Rinomato, host of HGTV’s popular “Property Virgins” show.

“Get it clean, clean, clean,” said Rinomato. “If your house isn’t clean, it instantly sends up negative thoughts that the home is not well maintained. If your house is spotless, you’re ahead of the game,” she said.

But don’t stop there, advised Rinomato. To increase your chances of making a sale, “stage” the house to make it as attractive as possible. Until recently, “Staging meant pulling out all the stops—setting the dining table with your best china and crystal, arranging flowers, lighting candles,” she said. “Now we take the minimalist approach. Basically, you want to strip the house to its bare essentials, depersonalize it so potential buyers can superimpose themselves and their lifestyle on the house.”

Rinomato offered the following tips for staging a home:

1. Visit model homes and examine shelter magazines for inexpensive decorating ideas. Always keep in mind you are not decorating for yourself but for the general public.

2. Start with the outside. Give the house a fresh coat of paint, add shiny hardware to the front door and plant a few flowers to send a subliminal message the house is loved and well cared for.

3. Declutter every room to make it look larger. Get rid of family pictures, trophies and knickknacks. Closets and drawers should be no more than 30% full.

4. Invest in eco-friendly but bright lights. Open the drapes or remove them completely. “Light, bright rooms give the impression this is a happy place—and everyone wants to move into a happy place,” said Rinomato.

5. Feature only a few pieces of furniture with mainstream appeal. Pull pieces away from walls to make rooms look bigger.

6. Make sure a room’s primary use is obvious. A bedroom should look like a bedroom, not an office, hobby center or gym.

7. Bedrooms and kitchens are difficult to stage because they are in daily use, but make the effort. Clear everything off the counters and nightstands, roll up the rugs and hide the laundry hamper. Buff the cabinets with car wax and clean under the sinks. Invest in pristine white bed linens and towels.

8. Minimize the “pet effect.” Remove food bowls and litter boxes to the utility room. Deodorize thoroughly.

9. Organize the utility room and garage. Hang up the bicycles, roll up the hose. Renting a storage locker is worth the cost if it helps you sell faster and for a higher price.

10. Once your house is staged, invite your friends or Realtor over and walk them through to get an objective opinion.

(c) 2010, The Orlando Sentinel (Fla.).

Distributed by McClatchy-Tribune Information Services.

In today Reno/Sparks real estate market it is especially important for the higher priced homes to take every advantage that a seller can.

As a Reno/Sparks real estate consultant I always welcome any comments or questions on the Reno/Sparks real estate or any of the articles I posted.  You can email me directly at  chance at ballard-company.com

It is time to take a break from Reno/Sparks real estate and talk about the Reno Wine Walk

This Saturday  March 20     2 to 5 pm

$20 a glass per person.

Take a stroll along the river walk and savor Reno’s exciting urban renaissance.

go to http://www.winewalkreno.com/ to find where to purchase your commemorative wine glass and map.

The Reno Wine Walk is held  on the third Saturday of every month.

As a Reno/Sparks real estate consultant I always welcome any comments or questions on the Reno/Sparks real estate or any of the articles I posted.  You can email me directly at  chance at ballard-company.com