Chance Gates' Blog

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Date last updated by agency rep

2012-04-02

As a Reno/Sparks Nevada real estate professional and property manager, I encourage all questions and comments on the Reno/Sparks real estate market or any of the articles posted in this blog. Please feel free to use my back door to the MLS and search the houses available in the Reno/Sparks and most Northwest Nevada neighborhoods. I can be reached by email @ chance@ballard-company.com http://www.myspace.com/chancegates .  You can also follow me at http://www.twitter.com/chancegates .  To checkout some of  my property manager services goto http://chancegates.com/property-management-services/

If you are behind on your house payment and looking for a loan modification, go to making homes affordable

If the modification fails, contact your local real estate professional to help short sale your home.  To make sure there is no deficiency judgment a homeowner might find it necessary to hire an attorney.

I look at life, the experiences I’ve had, at the human condition, the dynamics between people, the news (world news), and draw from the compelling realities all around us.
Leslie Banks

I love the paranormal, because there, every genre I write can become one beacon for my imagination.
Leslie Banks

In all honesty, at that time, I never saw myself as an author… I was just a Mom in a state of panic, trying to enter a short story contest to win the prize money in order to keep the lights on in my home.
Leslie Banks

It was all a back-handed blessing, and my friends were the ones who kept the faith, read my work, and urged me to submit it to publishers (by sending it out for me – they would not hear no for an answer.
Leslie Banks

That has always been it for me: family first.
Leslie Banks

The story grew, got way bigger than the contest rules called for, and next thing I knew I had a book.
Leslie Banks

Congratulations to Reno’s Veterans Guest House for winning $250,000 by taking first place honors in our inaugural Aprons in Action grand prize contest. The Veteran’s Guest House won $25,000 in the February round of Aprons in Action and went on to compete against the 10 other monthly winners in the March finale. Utah State Veterans Home in Salt Lake City took second place honors and won $150,000, while LifeBUILDERS of Detroit secured third place honors and won $100,000.
Congrats are also in order for Great Falls Children’s Receiving Home, Ronald McDonald House of Detroit, Jerusalem House, New Orleans Area Habitat for Humanity, Northwest Hospital Foundation, Taylor VFW Post 4422, Midwest Shelter for Homeless Veterans, and Jewish Family Service- Project Build for participating in the Aprons in Action grand prize contest. Each of these nonprofits does wonderful work in their respective communities, and we look forward to our continued partnerships.
During the Aprons in Action Contest, which began in April 2011, The Home Depot Foundation’s Facebook page served as a platform for 44 non-profit organizations to earn funds totaling $1 million through Facebook votes and to generate further awareness of their community efforts.
Through Aprons in Action, each nonprofit heightened its visibility both locally and nationally. As a result, the nonprofits have been able to establish new community partnerships; have experienced an increase in volunteers lining up to help; and have seen exponential growth in Facebook fans and followers.
Learn more about The Home Depot Foundation’s web site.

Read all about Reno Veterans Guest House

Mark your favorite properties and get instant updates price changes,  new pictures and status changes.

As a Reno/Sparks Nevada real estate professional and property manager, I encourage all questions and comments on the Reno/Sparks real estate market or any of the articles posted in this blog. Please feel free to use my back door to the MLS and search the houses available in the Reno/Sparks and most Northwest Nevada neighborhoods. I can be reached by email @ chance@ballard-company.com http://www.myspace.com/chancegates .  You can also follow me at http://www.twitter.com/chancegates .  To checkout some of  my property manager services goto http://chancegates.com/property-management-services/

If you are behind on your house payment and looking for a loan modification, go to making homes affordable

If the modification fails, contact your local real estate professional to help short sale your home.  To make sure there is no deficiency judgment a homeowner might find it necessary to hire an attorney.

Pending home sales, a forward-looking indicator based on signed contracts, fell 0.5% in February after a 2% increase in January. On a year-over-year basis, pending home sales are up 9.2%.

Retail sales fell 0.5% for the week ending March 24, according to the ICSC-Goldman Sachs index. On a year-over-year basis, retailers saw sales increase 2.7%.

The Standard & Poor’s/Case-Shiller 20-city housing price index — on a non-seasonally adjusted basis — fell 0.8% in January after a 1.1% decrease in December. On a year-over-year basis, prices fell 3.8% compared with January 2011.

Orders for durable goods — items expected to last three or more years — rose $4.5 billion or 2.2% to $211.8 billion in February. This follows a revised 3.6% decrease in January. Excluding volatile transportation-related goods, orders posted a monthly increase of 1.6%.

The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending March 23 fell 2.7%. Refinancing applications decreased 4.6%. Purchase volume rose 3.3%.

The Commerce Department announced that gross domestic product — the total output of goods and services produced in the U.S. — increased at an annual rate of 3% in the fourth quarter of 2011. This follows a 1.8% pace of growth in the third quarter of 2011. On a year-over-year basis, the economy expanded 1.6%.

The Reuters/University of Michigan consumer sentiment index for March’s final reading rose to 76.2 from 75.3 in February. On a year-over-year basis, consumer sentiment is up 12.9%.

Thanks to my friends at Prospect Mtg

Mark your favorite properties and get instant updates price changes,  new pictures and status changes.

As a Reno/Sparks Nevada real estate professional and property manager, I encourage all questions and comments on the Reno/Sparks real estate market or any of the articles posted in this blog. Please feel free to use my back door to the MLS and search the houses available in the Reno/Sparks and most Northwest Nevada neighborhoods. I can be reached by email @ chance@ballard-company.com http://www.myspace.com/chancegates .  You can also follow me at http://www.twitter.com/chancegates .  To checkout some of  my property manager services goto http://chancegates.com/property-management-services/

If you are behind on your house payment and looking for a loan modification, go to making homes affordable

If the modification fails, contact your local real estate professional to help short sale your home.  To make sure there is no deficiency judgment a homeowner might find it necessary to hire an attorney.

University of Nevada athletics logo (Photo credit: Wikipedia)

RENO, Nev. -

Members of the Wolf Pack athletics department teamed up on Saturday morning to clean up Miguel Ribera Park as part of the “Give Back Like Jack” community pride campaign.

Saturday’s events and celebration wrapped up the first quarter of the kindness initiative. The day of service was held on the Saturday following the first official “Jack Reviglio Day” in Washoe County, to commemorate the accomplishments made during the first part of 2012 and to encourage residents to keep the kindness going.

Members of the Wolf Pack women’s basketball team, including head coach Jane Albright, assistant coach Kami Malnaa, freshman Emily Burns and alum Dellena Criner, and associate athletics director Rhonda Lundin swept the basketball courts and painted the picnic tables at the park as part of the celebration.

Nevada Athletics has partnered with the Boys & Girls Club of Truckee Meadows, Bishop Manogue Catholic High School, Catholic Charities of Northern Nevada and Our Lady of the Snows to encourage residents to help create a sense of kindness and camaraderie in the community by performing random acts of kindness in honor of longtime Reno resident and philanthropist Jack Reviglio, who passed away in 2011. Throughout the campaign, Nevada handed out tickets to a men’s basketball game, threw out t-shirts and raised awareness about the campaign throughout its basketball season and had a free admission weekend at a baseball series.

“Give Back Like Jack” is a memorial to Reviglio who was so well known for his kindness and philanthropy throughout northern Nevada. Reviglio worked often with the five non-profit organizations that have created the initiative, whose mission is to continue spreading the kindness that was so often experienced thanks to Reviglio and his family.

Whether the activity consists of taking the neighbor’s trash to the curb, visiting a friend who is struggling with illness or patiently waiting for a pedestrian to cross the street, “Give Back Like Jack” encourages people to engage in small daily activities that positively affect a friend, family member, co-worker or even a perfect stranger. After completing the act, visit www.GiveBackLikeJack.org to tell the story on the blog page. Stories will be used as examples for other people to follow throughout the rest of the year.

For more information on Give Back Like Jack, visit www.GiveBackLikeJack.org or call 775-331-5437.

Nevada Wolf Pack Athletics

As a Reno/Sparks Nevada real estate professional and property manager, I encourage all questions and comments on the Reno/Sparks real estate market or any of the articles posted in this blog. Please feel free to use my back door to the MLS and search the houses available in the Reno/Sparks and most Northwest Nevada neighborhoods. I can be reached by email @ chance@ballard-company.com http://www.myspace.com/chancegates .  You can also follow me at http://www.twitter.com/chancegates .  To checkout some of  my property manager services goto http://chancegates.com/property-management-services/

If you are behind on your house payment and looking for a loan modification, go to making homes affordable

If the modification fails, contact your local real estate professional to help short sale your home.  To make sure there is no deficiency judgment a homeowner might find it necessary to hire an attorney.

Reno/Sparks Association of REALTORS®

February, 2012
Market Report
Area 100, Greater Reno/Sparks

Summary
– “For the second consecutive year, February had the highest volume of unit sales for a month of February
in the history of MLS,” said Kevin Sigstad, 2012 president of the Reno/Sparks Association of REALTORS
and the broker with Re/Max Premier Properties. “We are continuing to see record highs in number of
existing home sales. Pair that with the fact that our region is not experiencing the typical seasonal winter
lull in home sales, the stage is set for a record-breaking spring in home sales.”

Median Sales Price
– February 2012 median price was up 7.4% to $145,000 compared to $135,000 in January 2012 and down
9.9% from the February 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.

Price per Square Foot Solds
– Price per square foot is at $85.93.
– Price per square foot by area groups, as provided in the Detailed Report, is a good way to compare
similar homes for current value.

Number of Units Sold
– February ended the month with 453 sold transactions, up 1.6% from the prior month.
– Sales are up 17.1% from the same period last year.

Average Days on Market
– The average days on market are 132 days, down 9% from January 2012.

Day on Market (DOM) by Special Conditions
– Short sales continue to influence the average days on market at 207 DOM.
– Properties with no special conditions 118 DOM and Other had 72 DOM.
– REO properties average days on market remain stable at 93.

New Listings
– 512 new listings were taken in February compared to 577 in January, an 11.3% decrease and an 18.2%
decrease from February 2011.

Distressed New Listings by Special Conditions
– 64% of new February listings were distressed – 42% (216) Short Sales; 22% (112) REO; No special conditions
34% (176) and Other less than 2% (8).

Status of Pending
– Active Pending – Short Sales represent 62.3% of the total active pendings; Active Pending Loan equals 16.6%;
Pending No-show represents 16.1%; Active Pending call 4.8%; and Active Pending House less than 1%.

Current Months Supply of Inventory (Unsold Inventory ÷ Sales per Month)
– As of February 29, there was 5.4 months of unsold inventory based on the February sales rate.

Historical Months Supply of Inventory
– Historical Months Supply of Inventory shows that February MSI is down to 5.4 months compared to January 2012
at 6.0, and down 63% from February 2011.
– 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
– February 2012 reported unit sales are the highest February in history. February 2012 sales are up 17.1% from
February 2011 unit sales which was the second highest reported unit sales in history.
– The median price rebounded from a low in December to $145,000, up 7.4% from the prior month. With this
rebound we move back into the stabilization of the median price range we had seen starting in May of 2011.
– Washoe County’s unemployment rate trended down in 2011 and is down from 14.2% in January 2011 to 13% in January 2012. This is a positive sign for Washoe County.
– With interest rates at historic low levels and affordable housing prices, the Reno/Sparks record high unit sales support the conclusion that now is a good time to purchase a home.
– According to Fannie Mae’s National Housing Survey from February, Americans’ concerns over housing and the economy are subsiding.
– The Detailed Report is made available to members as a member benefit. Examine the Detailed Report for a morein-depth look into market segments and price points. Both this report and the Detailed Report are provided as avalue added service to members.

Members of the Reno/Sparks Association of REALTORS® are authorized to reproduce and redistribute this copyrighted report. No other reprint or distribution of this report is granted unless specifically approved in writing by the Reno/Sparks Association of Realtors, 5650 Riggins Court, Reno, NV 89502 or email to info@rsar.net. Data Sourced from NNRMLS. Created by NLS under license for RSAR.

As a Reno/Sparks Nevada real estate professional and property manager, I encourage all questions and comments on the Reno/Sparks real estate market or any of the articles posted in this blog. Please feel free to use my back door to the MLS and search the houses available in the Reno/Sparks and most Northwest Nevada neighborhoods. I can be reached by email @ chance@ballard-company.com http://www.myspace.com/chancegates .  You can also follow me at http://www.twitter.com/chancegates .  To checkout some of  my property manager services goto http://chancegates.com/property-management-services/

If you are behind on your house payment and looking for a loan modification, go to making homes affordable

If the modification fails, contact your local real estate professional to help short sale your home.  To make sure there is no deficiency judgment a homeowner might find it necessary to hire an attorney.

Read more: http://www.brainyquote.com/quotes/authors/j/jack_dempsey.html#ixzz1qF7hNvLn

The index of leading economic indicators — designed to forecast economic activity in the next three to six months — rose 0.7% in February, following a revised 0.2% increase in January. The February reading was the highest level since June 2008.

Initial claims for unemployment benefits for the week ending March 17 fell by 5,000 to 348,000, the lowest reading since February 2008. Continuing claims for the week ending March 10 fell by 9,000 to 3.35 million.

The combined construction of new single-family homes and apartments in February fell 1.1% to a seasonally adjusted annual rate of 698,000 units, after an upwardly revised gain of 3.7% in January. The January figure was revised from 699,000 units to 706,000 units. Compared to a year ago, housing starts are up 34.7%. Applications for new building permits, seen as an indicator of future activity, rose 5.1% to an annual rate of 717,000 units.

Existing home sales fell 0.9% in February to a seasonally adjusted annual rate of 4.59 million units from an upwardly revised 4.63 million units in January. The inventory of unsold homes on the market increased 4.3% to 2.43 million, a 6.4-month supply at the current sales pace, up from a 6-month supply in January.

New home sales fell 1.6% in February to a seasonally adjusted annual rate of 313,000 units from a downwardly revised rate of 318,000 units in January. The initial January reading was 321,000. The December rate was revised higher to 336,000 units, the highest level since the economic recovery began. On a year-over-year basis, new home sales are up 11.4%. At the current sales pace, there’s a 5.8-month supply of new homes on the market.

The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending March 16 fell 7.4%. Refinancing applications decreased 9.3%. Purchase volume fell 1

Thanks to my friends at Prospect Mtg

Mark your favorite properties and get instant updates price changes,  new pictures and status changes.

As a Reno/Sparks Nevada real estate professional and property manager, I encourage all questions and comments on the Reno/Sparks real estate market or any of the articles posted in this blog. Please feel free to use my back door to the MLS and search the houses available in the Reno/Sparks and most Northwest Nevada neighborhoods. I can be reached by email @ chance@ballard-company.com http://www.myspace.com/chancegates .  You can also follow me at http://www.twitter.com/chancegates .  To checkout some of  my property manager services goto http://chancegates.com/property-management-services/

If you are behind on your house payment and looking for a loan modification, go to making homes affordable

If the modification fails, contact your local real estate professional to help short sale your home.  To make sure there is no deficiency judgment a homeowner might find it necessary to hire an attorney.

Section 502 loans are primarily used to help low-income individuals or households purchase homes in rural areas. Funds can be used to build, repair, renovate or relocate a home, or to purchase and prepare sites, including providing water and sewage facilities.

Eligibility: Applicants for loans may have an income of up to 115% of the median income for the area. Area income limits for this program are here. Families must be without adequate housing, but be able to afford the mortgage payments, including taxes and insurance.  In addition, applicants must have reasonable credit histories.

Terms: Loans are for 30 years.  The promissory note interest rate is set by the lender.

There is no required down payment. The lender must also determine repayment feasibility, using ratios of repayment (gross) income to PITI and to total family debt.

Standards: Under the Section 502 program, housing must be modest in size, design, and cost.   Houses constructed, purchased, or rehabilitated must meet the voluntary national model building code adopted by the state and HCFP thermal and site standards. New Manufactured housing must be permanently installed and meet the HUD Manufactured Housing Construction and Safety Standards and HCFP thermal and site standards.  Existing manufactured housing will not be guaranteed unless it is already financed with an HCFP direct or guaranteed loan or it is Real Estate Owned (REO) formerly secured by an HCFP direct or guaranteed loan.

Approval: Rural Development officials have the authority to approve most Section 502 loan guarantee requests.

Mark your favorite properties and get instant updates price changes,  new pictures and status changes.

As a Reno/Sparks Nevada real estate professional and property manager, I encourage all questions and comments on the Reno/Sparks real estate market or any of the articles posted in this blog. Please feel free to use my back door to the MLS and search the houses available in the Reno/Sparks and most Northwest Nevada neighborhoods. I can be reached by email @ chance@ballard-company.com http://www.myspace.com/chancegates .  You can also follow me at http://www.twitter.com/chancegates .  To checkout some of  my property manager services goto http://chancegates.com/property-management-services/

If you are behind on your house payment and looking for a loan modification, go to making homes affordable

If the modification fails, contact your local real estate professional to help short sale your home.  To make sure there is no deficiency judgment a homeowner might find it necessary to hire an attorney.

Baseball gives every American boy a chance to excel, not just to be as good as someone else but to be better than someone else. This is the nature of man and the name of the game.
Ted Williams

Baseball is the only field of endeavor where a man can succeed three times out of ten and be considered a good performer.
Ted Williams

Baseball’s future? Bigger and bigger, better and better! No question about it, it’s the greatest game there is!
Ted Williams

By the time you know what to do, you’re too old to do it.
Ted Williams

God gets you to the plate, but once your there your on your own.
Ted Williams

Hitting is fifty percent above the shoulders.
Ted Williams

Hitting is the most important part of the game. It is where the big money is, where much of the status is, and the fan interest.
Ted Williams

I hope somebody hits .400 soon. Then people can start pestering that guy with questions about the last guy to hit .400.
Ted Williams

I’ve found that you don’t need to wear a necktie if you can hit.
Ted Williams

If there was ever a man born to be a hitter it was me.
Ted Williams

If you don’t think too good, don’t think too much.
Ted Williams

There has always been a saying in baseball that you can’t make a hitter, but I think you can improve a hitter. More than you can improve a fielder. More mistakes are made hitting than in any other part of the game.
Ted Williams

There’s only one way to become a hitter. Go up to the plate and get mad. Get mad at yourself and mad at the pitcher.